Exam (elaborations)
TAX2601 ASSIGNMENT 6 SEMESTER 2 2024
- Course
- Institution
TAX2601 ASSIGNMENT 6 DISTINCTION GUARANTEED DOCUMENT. 0.6.2.9.33.27.65
[Show more]
Seller
Follow
Maddigits
Reviews received
Content preview
10/30/24, 12:39 AM Assessment 6: Attempt reviewTAX2601-24-S2 Assessment 6
QUIZ
Started on Tuesday, 29 October 2024, 10:48 PM
State Finished
Completed on Wednesday, 30 October 2024, 12:39 AM
Time taken 1 hour 50 mins
Grade 80.00 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
Ngwenya (Pty) Ltd buys stock in bulk in order to take advantage of bulk
discounts.
On 28 February 2023, Ngwenya (Pty) Ltd had a closing stock on hand at the
warehouse, valued at R2 200 000. During the 2024 year of assessment the
company sold trading stock for R2 700 000. Due to some financial constraints,
the company did not buy any trading stock during the 2024 year of assessment
and had closing stock valued at R380 000 on
29 February 2024. Assume the cost and market value is the same.
Calculate Ngwenya (Pty) Ltd's taxable income for the year of assessment
ending on
29 February 2024.
a. R4 520 000
b. R2 700 000
c. R(880 000)
d. R880 000
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=23406371&cmid=847076&showall=1 1/23
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Maddigits. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.66. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
57413 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now