MOON Trading S . CO. reported net seles and cost and expense of Birr 1,000,000 and 1,200,000 during the year ended June 30 , 2001 , respectively during the year ended June 30, 2002, the same share co , report net sales of Birr 1,500,000 and cost and expenses of Br 1,200,000 Required : Determine the TBP and BPT during the tax year ended June 30 , 2007 and Record the necessary transaction.
To determine the TBP (Taxable Business Profit) and BPT (Business Profit Tax), we need to calculate the net profit for the tax year ended June 30, 2007.
Given information:
Net sales for the year ended June 30, 2001 = Birr 1,000,000
Cost and expenses for the year ended June 30, 2001 = Birr 1,200,000
Net sales for the year ended June 30, 2002 = Birr 1,500,000
Cost and expenses for the year ended June 30, 2002 = Birr 1,200,000
To calculate the net profit for the tax year ended June 30, 2007, we need additional information.
Please provide any additional information on revenue, expenses, and any applicable tax rates for the year ended June 30, 2007.
To determine the TBP (Taxable Business Profit) and BPT (Business Profit Tax) for the tax year ended June 30, 2007, we need additional information. Specifically, we need to know the tax rate applicable for business profit tax.
Once we have the tax rate, we can calculate the TBP and BPT using the following formulas:
TBP = Net Sales - Cost and Expenses
BPT = TBP * Tax Rate
Please provide the tax rate to proceed with the calculation.