Bank 51
Accounts receivable 110
Inventory 669
Prepayments 45
Plant and equipment (net book value) 2350
Furniture and fittings (net book value) 1949
Computer system (net book value) 441
Goodwill 204
Bank Overdraft 209
Accounts payable 1257
Debentures 750
Sales revenue 4180
Accountancy and audit fees 30
Administrative salaries 216
Advertising and promotion 135
Cost of goods sold 1725
Distribution costs 162
Interest paid 120
Office electricity 66
Office rent 165
Sales salaries 350
Telephone expenses 87
Discount allowed 72
Share Capital ?

Company Income tax rate is 30%. <-??

First determine your net taxable income, which is calculated directly from the given balances of the income statement accounts.

Then your income tax expense will be 30% of the net taxable income.

This assumes that
• Among the accounts you've listed, all of the income statement accounts are included.
• All of the listed expense accounts are deductible in full, for tax purposes.

as I recall income tax is a percentage of net profit so apply the percentage to the calculated profit. If you can't separate revenue items from capital you need to go back to your text books let me give you a clue, everything above a certain line is capital and what is below is revenue and the equation assets - liabilities = equity still works