ISSUE 1 (2 signs)
The subjoined happened during the 2015-16 financial year
o Cash accepted from clients in 2015-16 sumed to $420,000
o Trading supply on artisan at 1 July 2015 was $80,000 valued at ‘cost’
o Trading supply on artisan at 30 June 2016 was $100,000 valued at ‘cost'
o On 31 May 2016 Naalti accepted $5,000 gradation fees for services not yet rendered to a point client at the end of the 2015-16 financial year
Calculate Naalti’s assessable allowance, and produce your reasons if you revolve any sums should be embracing from assessable allowance.
ISSUE 2 ( 2 sign)
The subjoined happened during the 2015-16 financial year:
o On 1 April 2016 Naalti accepted a $28,000 dividend franked to 50% from ANZ Bank Ltd.
o On 1 April 2016 Naalti accepted a $14,000 amply franked dividend from Tabcorp
Calculate the completion sum of assessable allowance Naalti acquired from her bombardment activities during the 2014-15 financial year.