Professional Documents
Culture Documents
1. The closing stock on 31 December 2019 was valued at a cost plus a mark up of twenty
per cent.
Legal expenses related to: Ksh.
Preparation of the Memorandum of Association 150,000
Conveyance fees on purchase of land 60,000
Renewal of 89 years lease 90,000
Settling customer disputes 100,000
Acquisition of a bank loan 20,000
420,000
a. Adjusted taxable profit or loss for Matunda Matamu Limited for the year ended 31
December 2019.
b. The tax payable by Matunda Matamu Limited (if any) for the year ended 31 December
2019
c. Determine the dates when tax computed in (b) above is payable given that the taxable
profits for the year ended 31 December 2018 was sh.3,200,000