loan interest received

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  • Avatar of sab
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    In yesterdays exam question
    there was a question to correct the information given below and take the right figures to calculate taxable income
    the Que was like this:
    Loan interest received
    loan interest receivable: 32000
    accrued at 1.apr.2011 10100
    accrued at 31. mar.2012 (11600)
    total 30 500

    this was asked as part of investment income to find the corporate taxable income and then to find the tax liability
    actually what figure should be taken into account??
    isn’t 32000-11600= 20400??

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