093 682 682 | 078 868 848 | info@pp-hr.com | Join Discussion | ខ្មែរ | English  | 日本語 | 中文  | ไทย한국어Tiếng Việt

Practical Question 9- Tax On Profit for Trading Company

Gold Trading Company is a merchandising company incorporated in Cambodia in 2014. Gold Trading Company purchases and sells phones, LCD and computers to local customers and distributers.  Under the tax regulations, Gold Trading Company is required to calculate and pay annual Tax on Profit. The following extracts for provisions have been provided by Gold Trading Company’s accountant in relation to the tax year ended 31 December 2016.

  • Beginning provision for warranty expense of $2,000 of sold products.
  • During December 2016, company has re-assessed the provision for sold product warranty and has decided that the provision should be $3,000.
  • One customer of customers purchased products from company during year filed bankruptcy, this client owed company $5,000, so Gold Trading Company decided to write off this trade receivable.
  • Beginning doubtful trade receivables of $1,000, and total trade receivables (excluding trade receivable of $5,000) of $100,000 are estimated 2% is irrecoverable debt.

Required:

  1. Define any expenses according to accounting policy, and complete relevant financial figures accordance with tax form requirement from page 3/16 to 13/16 if any.
  2. Define any expenses according which are allowed by tax law, and complete relevant financial figures accordance with tax form requirement from page 3/16 to 13/16 if any.
  3. Complete any financial figures in Provision Calculation Table page 16/16 according to tax form requirement.

Find Jobs Here !

Featured Jobs

Salary 600$ – 700$ Requirement Have experience with sale 3 year Language English Honest If Foreigner Priority Computer word and excel
Salary Range: 400$-600$ JOB Responsible Make account payable (A/P) and account receivable (A/R) Manage petty cash monthly and reports to GM Manage bank reconciliation and cash flow. Maintain invoices to be expended. Checking market supplies of advance request Verifying accounting report in weekly and monthly   JOB Requirements High school or above in related field At least 1 year of Professional
Salary Range: 300$ Up REQUIREMENT • Language English & Chinese • Computer Word and Excel   Contact : 093 682 682 / 078 868 848 Email : cv@pp-hr.com Address: Sangkat Chatomuk, Khan Chamkar Morn, Phnom Penh, Cambodia.
Salary Range: 350$ Up REQUIREMENT • Language English & Chinese • Computer: Word and Excel Contact : 093 682 682 / 078 868 848 Email : cv@pp-hr.com Address: Sangkat Chatomuk, Khan Chamkar Morn, Phnom Penh, Cambodia.
 លក្ខខ័ណ្ឌជ្រើសរើស 1. ត្រូវចេះភាសាចិន 2. អាចប្រើប្រាស់ភាសារអង់គ្លេស (និយាយ និង សរសេរក្នុងការទំនាក់ទំនងអតិជន) • Contact : 093 682 682 / 078 868 848 • Email : cv@pp-hr.com • Address: Sangkat Chatomuk, Khan Chamkar Morn, Phnom Penh, Cambodia.
Loading...