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What is yankers enterprises assessable income

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Reference no: EM133090631

Question - Yankers Enterprises Pty Ltd sells training course materials to organisations. The materials are imported from a United States-based course developer and on-sold for a profit. Yankers provides you with the following information for the purposes of preparing its income tax return for the CIY:

Sales $90,000

Less; Cost of goods sold

Opening stock $10,000

Plus: purchases $60,000

Less: closing stock $40,000 $30,000

Gross profit $60,000

Required - What is Yankers Enterprises' assessable income for the current income tax year?

Reference no: EM133090631

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