Tutorial 2 - ACc3
Tutorial 2 - ACc3
KSB, Accounting 3
The partnership’s adjusted profit for tax purposes were reported as follows:
GH¢
Year to 31/12/19 250,000
Year to 31/12/20 320,000
Year to 31/12/21 385,000
During the year, she received dividend from Pacific Bank (Net of 10%) - GHS400. The following
personal expenses were incurred during the year:
GHS
• Gifts to fiancée 1,956
• Average spending on food 12 per day
• Cash to mother 300 per month
• Rent paid 120 per month
• Utilities 102 per month
• Funerals & Entertainment 200 per month
Required: Compute Aisha’s Assessable Income for 2020 Year of Assessment