Thanks

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What of if there was net profit would we add proceeds from sale of old machinery

@patrickmark8178

3 ай бұрын

we would less the proceeds since they have made our profit to increase.

Shouldn't we deduct the Sale proceeds of disposal of old machinery as it was already added when calculating net loss?

@patrickmark8178

3 ай бұрын

I believe we should add them back to offset the net loss we made, since it was added in the assessment of profit/loss hence the loss had reduced which should not be the case.

@jeremiahdani9610

2 ай бұрын

Fact

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The proceeds from the sale of old machinery should be deducted to reduce the profit,.....you shou

An ordinary resident in kenya have been studying in the US. On completion of his studies he was employed there for four years at the end of which he was recruited from the USA by multinational company in Kenya. He started his employment in Kenya on January 2020 and the details of his remuneration package was as follows; Annual income 2,400,000 Company car rating 1320 use for official and private use 960,000 Accommodation company own house 25,000 p.m. deducted from salary 45,000 p.m Let to third party previously Package to and from US once a year 120,000 Daughter school fee fully paid and no deduction is claimed by the company 10,000 per term Entertainment allowance spend on entertaining clients 5,000 p.m Contribute 2% his basic salary and equal amount to retirement benefit by the company 4000 p.m. Addition information. His wife a fashion designer, had started a boutique and gift shop in may 2020 and the end of the year made a loss ksh.203,000 Required; Calculate monthly PAYE giving details required by the tax authorities Kindly someone to help me calculate this