Solution-Compute the taxable profit and accounting profit

Compute the taxable profit and accounting profit

Reference no: EM132563166

Question - You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019

Cash Sales 950,000

Cost of Goods Sold 35,000

Amount 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 7,000

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

Reference no: EM132563166

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Compute the taxable profit and accounting profit

Reference no: EM132563166

Reference no: EM132563166

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