Acct422

• Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
• All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.

Assignment Question(s): (Marks 15)

Q1.Tax accounting differs from financial accounting in calculating depreciation expenses for depreciable assets, as the article no. 17 of the income tax law in Saudi Arabia set rules regarding the calculation of the depreciation expenses for the depreciable assets.

Required:

• Summarize the article 17.

Give a numerical example to explain how depreciation expense is calculated

Answer (5 Marks)

2. Give a numerical example on the Tax Base, Article 6 of the law

Answer: (5 Marks)

3. Give a numerical example on Losses Carried Forward, Article 21 of the Law, and Article 11 of the Executive Regulations

Answer: (5 Marks)