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FK Insurance Brokers Limited was incorporated on 1 July 2004. The Managing Director has kept all his transaction vouchers in good order and also maintains proper registers for the premiums received, premiums paid, commissions received, etc. He has approached you to advise him on the tax payable for the eighteen months ended on 31 December 2005. From your detailed enquiry you have obtained the following information:Sh.Premiums received from clientsPremiums paid to insurance companiesCommissions received (Net)Rent paidSalaries and wagesSubscriptions to the Insurance InstituteWithholding Tax PaidInstalment Tax paid in September 2005DonationsAnnual charges by Commissioner of InsuranceBank chargesBank interest earnedIncome from Bearer and Treasury BondsDepreciation Office stationery Office maintenance Equipment purchases Auditors remuneration Directors fees Entertainment Business travel Provision for bad debts: Specific General Architects fees on office partitioning30,000,00025,000,0008,500,000422,440979,9806,5001,500,0001,125,00050,00015,0003,3368,972965,000223,500123,40097,00092,000100,000108,000180,00068,00045,00050,00055,000NB: Wear and Tear allowances as agreed with the Commissioner for Income Tax (for 2005)232,500Required:(a) Compute the Profit chargeable to Income Tax for the 18 months ended 31 December 2005. (12 marks)(b) Show tax payable and the dates payable. ( 4 marks)(c) Explain why you may not have used all the information provided to you. ( 4 marks) Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount! Use Discount Code “Newclient” for a 15% Discount!NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you. The post Advanced-Taxation-accounting-homework-help appeared first on Nursing Writers Hub.”Do you need a similar assignment done for you from scratch? We have qualified writers to help you with a guaranteed plagiarism-free A+ quality paper.
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