You should indicate by the use of zero any items in the accounts for which no adjustment is required. £ £ Gross profit from trading
25,620
Profit on sale of business premises (1)
1,750
27,370
Advertising
642
Irrecoverable Debts
75
Depreciation
2,381
Light and heat
372
Miscellaneous expenses (2)
347
Motor car expenses (3)
555
Rates
1,057
Repairs and renewals (4)
2,598
Sta
ff
wages (5)
12,124
Telephone
351
20,502
Profit before tax
6,868
£ Subscription to Printers’ Association
45
Contribution to local Enterprise Agency
50
Gifts to customers:
Company calendars costing £7.50 each
75
Two food hampers
95
£ Refurbishing second hand press before it could be used in the business
522
Redecorating administration o
ffi
ces
429
Building extension to enlarge paper store in February 2022
1,647
2,598
306
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20. Sail Ltd Sail Ltd has the following results for the year ended 31 March 2023. It has one wholly owned
subsidiary company.
Calculate the amount of corporation tax payable by Sail Ltd for the year ended 31 March 2023 and state giving reasons the due date for payment. £ Trading profit
380,000
Interest receivable
9,000
Property Income
12,000
Chargeable gains
21,000
Dividends received from non subsidiary UK companies
50,000
Qualifying charitable donations
22,000
307
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