May-6th-Tax.xlsx - Exhibit 1 PURPOSE To compute FFI's...

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Exhibit 1PURPOSETo compute FFI's taxable income and tax payable.ANALYSISwhen calculating business income always start with net income bef($000s)Net income before tax110allocation for LHT head office100210AddDepreciation270 acost incurred in inventory80unrecorded mark up sales15professional fees20 bAFDA95 cshare-based compensation25LessCCA150Bad debt write of45 cCCA: professional fee1.5 btaxable income518.5tax (20%)103.7CONCLUSION(make sure your conclusion answer the question in purpose)
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Term
Fall
Professor
N/A
Tags
Depreciation, Revenue, Taxation in the United States, Generally Accepted Accounting Principles

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