读趣百科

17 A company sublets part of its office accommodation. In the year ended 30 June 2005 cash received from tenants

was $83,700.

Details of rent in arrears and in advance at the beginning and end of the year were:

In arrears In advance

$ $

30 June 2004 3,800 2,400

30 June 2005 4,700 3,000

What figure for rental income should be included in the company’s income statement for the year ended 30 June

2005?

10 Which of the following factors would cause a company’s gearing ratio to fall?

1 A bonus issue of ordinary shares.

2 A rights issue of ordinary shares.

3 An issue of loan notes.

4 An upward revaluation of non-current assets.

A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority with committing an act of tax evasion in 2002.

Which of the following statements is correct?

Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000 in June 2014 and the balance of RMB2,000 in August 2014. The same photos were republished by the government in a promotion brochure in August 2014 and Mr Li was paid a further fee of RMB3,000 by the government.

What is the total amount of individual income tax (IIT) which Mr Li will pay on the above incomes?

In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.

What is the correct treatment of the estate income for individual income tax purposes?