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Question 2 Carry forward losses John has the following income and expenditure. Business Income Army reserve Income Superannuation Deductions (Self-employed) Other Allowable deductions $30,000 $4,000 $7,000 $20,000 John has a carried forward loss of $9,000.

Question 2 Carry forward losses John has the following income and expenditure. Business Income Army reserve Income Superannuation Deductions (Self-employed) Other Allowable deductions $30,000 $4,000 $7,000 $20,000 John has a carried forward loss of $9,000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 2 Carry forward losses John has the following income and expenditure. Business Income Army reserve Income Superannuation Deductions (Self-employed) Other Allowable deductions $30,000 $4,000 $7,000 $20,000 John has a carried forward loss of $9,000. Calculate John's taxable income.
Transcribed Image Text:Question 2 Carry forward losses John has the following income and expenditure. Business Income Army reserve Income Superannuation Deductions (Self-employed) Other Allowable deductions $30,000 $4,000 $7,000 $20,000 John has a carried forward loss of $9,000. Calculate John's taxable income.
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