Solution-Calculate taxable profit and accounting profit for

Calculate taxable profit and accounting profit for the year

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Reference no: EM133162325

Question - You are provided with the following information from the accounts of Patrick Limited for the year ending 30 June 2019:

Cash sales	$300,000
Cost of goods sold	$140,000
Amounts received in advance for services to be performed in August 2019	$15,000
Rent expense paid for year ended 30 June 2019	$10,000
Rent prepaid for two months to 31 August 2019	$1,000
Doubtful debts expenses	$1,000
Annual leave expense (not paid)	$3,000

Required - Calculate taxable profit and accounting profit for the year ending 30 June 2019.

Reference no: EM133162325

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Calculate taxable profit and accounting profit for the year

Reference no: EM133162325

Reference no: EM133162325

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