Sir i dont understand one question in kaplan revision kit Norma who had been in business since 1 may 2012 , disposed business and retired on 31st May 2016 . She does not intend to start any other business but will be employed part time from june 1 2016 on an annual salary of $11400 Her trading profits losses as adjusted for taxation were : period ended 31-12-12 21000 profit Year ended 31-12-13 17000 profit Year ended 31-12-14 16900 profit Year ended 31-12-15 8835 profit period ended 31-5-16 (11000) losses
Norma has received interest of 24oo each year since april2012. in addition she realised a taxable gain of $ 35000 (after annual exempt amount) in june 2015