Use the information below to answer question
Turnover........................N120,000 Net profit before tax.........N40,000 Net profit b/f.....................N68,000 Proposed dividends: Ordinary shares....................N8,000 Preference shares................N6,000 Corporate tax is 30%........N10,000
What is the tax charged to profit and loss account?
A.
N14,000
B.
N60,000
C.
N34,000
D.
N20,000
Correct answer is D
No explanation has been provided for this answer.
