Solution-What the net income for current year on the basis

What the net income for current year on the basis of data

Reference no: EM132767208

Problem 1: ABC Company had total revenue and expense numbers of Rs.14,00,000 and Rs.11,00,000, respectively, in the current year. In addition, the company had a gain of Rs.230,000 that resulted from the passage of new legislation, which is considered unusual and infrequent for financial reporting purposes. The gain is expected to be subject to a 40 percent income tax rate. The net income for the current year on the basis of above given data is:

Option 1: Rs. 5,38000

Option 2: Rs. 5,30000

Option 3: Rs. 6,22000

Option 4: Rs. 4,38000

Reference no: EM132767208

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What the net income for current year on the basis of data

Reference no: EM132767208

Reference no: EM132767208

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