)‫ انتساب‬+ ‫عام (انتظام‬
2022/2021
‫كلية التجارة‬
:‫الشعبة‬
:‫العام اجلامعي‬
:‫الفرقة‬
‫منتصف الفصل‬
‫الدراسي الثاني‬
:‫اختبار‬
:‫اسم املقرر‬
Tax accounting (2)
Answer the following questions:
QUESTION one
State whether the following statements is true(√ ) or(× ) false
The following is the income statement for an
Egyptian joint stock company for the year ended
31/12/2021:
the sales
Subtract: cost of
goods sold
Begging inventory
+ Purchases
(-)ending inventory
cost of goods sold
gross profit
Subtract:
miscellaneous
expenses
administrative
expenses
Depreciation of fixed
1000000
400000
700000
1100000
800000
300000
700000
30000
70000
‫جامعة سوهاج‬
assets
Miscellaneous general
expenses
allotments
Add: other income
Securities income
bad debts collected
Miscellaneous other
income
Net profit
50000
30000
180000
520000
20000
5000
50000
75000
445000
By examining the tax revealed the following:
1- The company valued the goods at the end of the
period at the cost price, but this year its valuation at
the cost or market price, whichever is lower, and
because decrease in the market price than the cost, it
made a provision for the decrease in the prices of
goods by the difference of 8000 pounds.
2- Securities income 2000 includes bond income
owned by the company, while the rest represents
stock income in another joint stock company.
3- Administrative expenses include
24000
employees’ annual salaries, and the rest are bonuses
to employees.
4- The depreciation item includes an amount of 7000
pounds to depreciate real estate owned by the
company and leased to others at a rate of 5%, and an
amount of 6000 pounds to depreciate furniture at a
rate of 12.5% annually, purchased at the beginning of
the previous year.
5- The miscellaneous expenses item includes the
following:
A- 500, the royalties and fees of real estate owned by
the company and in which it conducts its activities.
B - 900 the royalties and fees of the property leased
to others.
C- Donations of 35,000 pounds, including 25,000
pounds to the Ministry of Health, 5,000 pounds to the
Misr El Khair Association, and the rest to the poor.
D - 18,000 EGP, an advertising campaign for 3 years.
E - 5000 paid insurance of participating in auctions
and tenders.
6- The provisions include EGP 9,000 provision for
bad debts, and EGP 6,000 as a reserve for the
increase in prices of fixed assets.
Choose the best answer according to the pervious exercise
1. With regard to the ending inventory the amount of the provision that has
been created , the tax officer must……..
A- added to profit 8000
B- deduct from profit 8000
C- revaluate the cost using FIFO
D –No amendments
2. Securities return is considered one of the income exempted from tax,
assuming that it is listed in the stock exchange, and since it is listed it
should be ………
A- deduct only Securities income 2000
B- deducted from profit
C- added to profit
D- No amendments
3. Salaries and bonuses for employees, assuming that they are specific to
the year and since they are included, should….
A- add 6000 bonuses
B- deduct 6000 bounses
C- deduct 30000 salaries sand bonus
D- No amendments
4. Depreciation for furniture should be……
A- depreciation base less than 10000 , so B- must deduct 3000
must deduct 4000
C-depreciation base is negative , so must D- No amendments
add 6000
5. For leased property royalties and fees (building tax), since it is included ,
it ……
A- must be deducted from profit
B- must be added to profit
C- must deduct only 90 %
D-.No amendments
6. donations to the Ministry of Health, they are considered among the costs
that must be……
A- added temporarily to profit
B- added to profit
C- deducted from profit
D- No amendments
7. donations to the Misr El Khair Association, and assuming that they are
publicized, they are considered among the costs that must be
A- added temporarily to profit
B- added to profit
C- deducted from profit
D- No amendments
8. The advertising campaign is one of the costs that must be deducted for
the year , so
A- 6000 must be added
B- 12000 must be deducted
C- 12000 must be added
D- No amendments
9. provisions and reserves since they are included, they must
A- added temporarily to profit
B- added to profit
C- deducted from profit
D- No amendments
10. net taxable profit is…….
A- 474900
B- 494900
C- 500900
D-490900
‫برجاء اإلجابة على األسئلة السابقة وإعادة رفع اإلجابة على املنصة وأن تكون اإلجابة على‬
‫شكل النموذج املوضح يف الصفحة التالية‬
‫اسم الطالب‪......................................:‬‬
‫الفرقة‪.................................................:‬‬
‫اسم املقرر‪ .........................................:‬الشعبة‪(..............................:‬انتظام‪/‬انتساب)‬
‫‪QUESTION (1) answer‬‬
‫‪Answer‬‬
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