Financial Accounting and Reporting - Question 1
Bellago Ltd made an accounting profit before tax of $75,000 for the year ended 30 June 2020.The following items were included in the accounts:
Donations to political parties , non-deductible 4,000
Depreciation machinery ,20% 15,000
Annual leave expense 5,800
Rent revenue 8,000
Goodwill amortised , non-deductible 12,000
For tax purposes the following applied :
Depreciatio…
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