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Tax Law - Question 1 Tax Law - Part 1 Statement of Assessable Income For the year ending June 30, 2019 All Amounts in $000 Salaries From: Local college 31000 Less standard Deduction 0 Income from house property 0 Profits and gains of business *(W1) 1233 …
Accounting Theory and Contemporary Issues Role of Conceptual Framework In financial statements various parts are based on the judgment and estimates rather than the exact figures or positions. The conceptual framework helps in providing the concepts that are underlying in respect of the judgments or the estimates that are made (Potschin-Yound et. al., 2018). The conceptual framework assists in developing the future standards of accounting a…
Case Study: Michael Answer to Question- 1 :- ASSESSABLE INCOME FOR THE YEAR ENDED 30.06.2019 PARTICULARS AMOUNT($) PROFIT FROM OPERATION $ 640,000.00 (915000-275000) ADD:RENTAL FROM PROPERTY $ 95,000.00 ADD:EXCESS PAYMENT…
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