(Answered) Paye of sh130000 was deducted from matatas pay but due to

Finance

PAYE of Sh.130,000 was deducted from Matata's pay but due to an oversight in the part of the Chief Accountant the tax was not paid to the Collector of Income tax. His wife's PAYE was Sh.180,000 in the year.

Required:

(i) Compute total income chargeable to tax and show the tax payable thereon.

(ii) Comment on any information not used for computing taxable income above.

(iii) Is Matata to blame for failure of the company to pay his PAYE? Explain.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91946154
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Valentinos maintains a constant debt-to-assets ratio of 072

Valentino's maintains a constant debt-to-assets ratio of 0.72, with total assets of $59986. Its plowback ratio is 0.21, and net income is $7130. What is the sustainable growth rate? Input your answer as a decimal rounded ...

The inside door has total debt of 76662 total equity of

The Inside Door has total debt of $76662, total equity of $224477, and a return on equity of 12.7 percent. What is the return on assets? Input your answer as a decimal rounded to 4 places (i.e., 1% = 0.0100).

What is the future value of a 9 5 year annuity due that

What is the future value of a 9%, 5 year annuity due that pays 300 each year?

Exerciseto hedge a short share position one can short the

Exercise To hedge a short share position, one can short the put option on the share. • What is the investor's intention in selling the put option? • What does the strike indicate when the trader has zero risk tolerance? ...

Xyz stock price and dividend history are as

XYZ stock price and dividend history are as follows: Year Beginning-of-Year Price Dividend Paid at Year-End 2010 $ 122 $ 5 2011 132 $ 5 2012 $ 110 ...

How do i calculate equity valuation-gordon growth model on

How do I calculate Equity Valuation-Gordon growth Model on TI-BA II Plus calculator. A company just paid a dividend of 2.30 to its shareholder. It estimates that future growth will be at 2%. What is the value of the stoc ...

A project has an initial outlay of 4623 it has a single

A project has an initial outlay of $4,623. It has a single payoff at the end of year 3 of $8,869. What is the net present value (NPV) of the project if the company's cost of capital is 12.43 percent?

What is the relation between a corporate bonds expected

What is the relation between a corporate bond's expected return and the yield to maturity? definition of default risk and explanation of how these rates incorporate default risk.

Industries recently commissioned management consultants to

Industries recently commissioned management consultants to estimate an appropriate rate for investment projects with the same risk as the firm. Unfortunately, part of the report was lost, and you have been asked to calcu ...

A new computer system will require an initial outlay of

A new computer system will require an initial outlay of $19,000, but it will increase the firm's cash flows by $3,800 a year for each of the next 8 years. a. Calculate the NPV and decide if the system is worth installin ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert