TXF6 UK

Section A: Q14

Specimen exam

Q14 Section A

2 marks

Moon Ltd has had the following results:

Period Profit/(loss)
£
Year ended 31 December 2018 (105,000)
Four-month period ended 31 December 2017 43,000
Year ended 31 August 2017 96,000

The company does not have any other income.

How much of Moon Ltd's trading loss for the year ended 31 December 2018 can be relieved against its total profits of £96,000 for the year ended 31 August 2017?

Pick 1 option