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Cavaliers Corporation made an accounting profit before tax of P 40,000 for the year ended June 2009. Includedin the accounting profit were the following items of revenue and expenses. Donations to political parties ( non deductible)   P 5,000 Depreciation machinery ( 20%) 15,000 Annual leave expense 5,600 Rent revenue 12,000 For the tax purposes the following applied: Annual leave paid P 6,500 Rent receive  10,000 Depreciation rate for machinery 25% Income tax rate 35% Calculate the current tax liability for the year ended 30 June 2009



A. 13423

This question is part of practical accounting 1
Asked by John_allen, Last updated: Jan 14, 2020

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John Smith

John Smith

Answered Nov 02, 2016

13423
 

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