Brown Ltd, an unquoted trading company, prepares accounts to 31 March and has no related 51% group companies. The draft accounting profits of the year ended
31 March 2020 are £1,300,000. The following items have been added or deducted in arriving at
the draft accounting profit:
Note £
Depreciation X
Property income 1 X
Exempt dividends received 2 X
Bank interest receivable X
Entertaining 3 X
Requirements:
i. Giving necessary detailed figures and information of the table in order to compute Brown
Ltd's taxable total profits for the year ended 31 March 2020. Notes given that:
1) Property income relates to rental of land
2) Exempt dividends received from unrelated UK companies.
3) Entertaining costs includes both deductible and non- deductible item.
4) Company Marda is a very large company.
ii. Computing the corporation tax payable by Brown Ltd for the tax year ended 31 March
2020 basing on figures and information supposed.
iii. When will Brown Ltd be required to pay instalments of CIT for the tax year ended 31
March 2020?

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.