Taxation | Accounting homework help


  1. Street Cred Limited (SCL) operates a business selling streetwear clothing.  

During the year ended 31 March 2022, SCL invoiced customers for $426,000, of which $46,000 had yet to be received from its customers at balance date. On 19 February 2022, an amount of $3,190 was written off as a bad debt in SCL’s accounting system. The amount was for clothing supplied to another business that was invoiced in September 2021.

On 31 October 2021, SCL received a fully imputed net dividend of $8,700 from Cool Caps Limited (CCL), a wholly owned subsidiary of SCL. CCL is a New Zealand tax resident company that is in the business of manufacturing snapback caps.

SCL’s deductible expenditure was $245,000 for the year ended 31 March 2022.

All amounts are GST-exclusive where applicable.

What is SCL’s taxable income for the income year ended 31 March 2022?





Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount