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Unformatted text preview: $ Gross profit 8,576,000 Dividend (Note a) 30,000 Rental income (Note b) 240,000 Compensation received (Note c) 70,000 Bank interest (Note d) 134,000 Exchange gain (Note e) 15,000 Profit on sale of fixed assets (Note f) 3,000 Notes: (a) Dividend from the company's subsidiary in Hong Kong. (b) Property A in Hong Kong 180,000 Property B in Mainland China 60,000 240,000 (c) Compensation for loss of motor vehicles 50,000 Compensation for loss of trading stock 20,000 70,000 (d) Interest on the company's fixed deposit with a bank in Hong Kong 80,000 Interest paid by overseas customers on overdue accounts 54,000 134,000 (e) This was arising from the settlement of trade debts with the overseas suppliers. (f) The income represents profits on sale of office equipment. Explain the tax treatments of the income of RS Ltd. ***END*** Data file: ch/ ACCT3161_ass3_1011_2nd Page 1...
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This note was uploaded on 02/04/2012 for the course ACCT 3161 taught by Professor Kwong during the Spring '11 term at CUHK.
- Spring '11