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Calculate the taxable profit and accounting profit for year

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Reference no: EM132837412

You are provided with the following information from the accounts of KPM Ltd for the year ending 30 June 2019

Cash Sales 500 000 Cost of Goods Sold 45 000

mount received in advance for services to be performed in August 2019 9 500

Rent expenses for year ended 30 June 2019 9 000

Rent Prepaid for two months to 31 August 2019 1 200

Doubtful debts expenses 1 200

Amount provided in 2019 for employees' long-service leave entitlements 5 000

Goodwill impairment expenses 3 000

Required:

Problem A. Calculate the taxable profit and accounting profit for the year ending 30 June 2019.

Reference no: EM132837412

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