You must calculate the accrual fund, tax and profit for the year for a limited company that started operations on 1 January 2020. The limited company wants to make a maximum provision for accruals for the year 2020. The tax rate for the year 2020 is 21.4%. Assume the following conditions: Reported profit before appropriations and tax SEK 50,000 Non-deductible expenses SEK 5,000 Non-taxable income SEK 15,000 Enter amount (in SEK) for the following items in the income statement for the year 2020:
You must calculate the accrual fund, tax and profit for the year for a limited company that started operations on 1 January 2020. The limited company wants to make a maximum provision for accruals for the year 2020. The tax rate for the year 2020 is 21.4%. Assume the following conditions: Reported profit before appropriations and tax SEK 50,000 Non-deductible expenses SEK 5,000 Non-taxable income SEK 15,000 Enter amount (in SEK) for the following items in the income statement for the year 2020:
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 56P
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You must calculate the accrual fund, tax and profit for the year for a limited company that started operations on 1 January 2020. The limited company wants to make a maximum provision for accruals for the year 2020. The tax rate for the year 2020 is 21.4%.
Assume the following conditions:
Reported profit before appropriations and tax SEK 50,000
Non-deductible expenses SEK 5,000
Non-taxable income SEK 15,000
Enter amount (in SEK) for the following items in the income statement for the year 2020:
a. Accruals *
kr
b. Tax cost *
kr
c. Profit for the year
kr
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