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Tramont dec 2011

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Tramont dec 2011

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by Unpredictable soul.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • December 2, 2015 at 6:01 pm #287045
    Unpredictable soul
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    Hi may I know how to get taxable profits of 38,470 in the year 3? I can’t seem to figure it out. Thanks

    December 3, 2015 at 12:56 am #287105
    Unpredictable soul
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    Hi sir any update? Thanks

    December 3, 2015 at 7:53 am #287145
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    Sorry – I must have accidentally missed your question last night 🙁

    I assume that you are happy with the 60,664 (profit after depreciation).

    There was a loss of 22,201 in year 1, which will have been carried forward. 7 of it was used in year 2 to reduce that years taxable profit to 0.
    That leaves 22,201 – 7 = 22,194 loss carried forward to year 3.

    So the taxable profit in year 3 = 60,664 – 22,194 = 38,470

    December 3, 2015 at 8:20 am #287156
    Unpredictable soul
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    It’s ok…thanks sir for the detailed explaination

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