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Calculate income tax payable by awash bank

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Reference no: EM132736209

Question: Assume DKY Company has opened and maintained current account (Checking account) On Awash International Bank S.C. The company has borrowed a Loan amount of Birr 2,000,000,000 that will be paid in lump sum after one year at interest rate of 12% per annual.

Task 1: Calculate total amount of cash Collected by Awash International Bank after a year?

Task 2: Calculate Income tax payable by Awash Bank to ERCA on interest Income earned?

Task 3: Discuss the importance of setting financial goals & developing a saving plan?

Reference no: EM132736209

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