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Question 2Note 4
Tax rates
Tax rates 2013
Softapp Ltd is a software developer. The company’s summarised statement of profit or loss for the year ended 31 March 2013 is as follows:
Note | £ | |
---|---|---|
Operating profit | 1 & 2 | 519,300 |
Other income | ||
Income from property | 3 | 36,700 |
Loan interest receivable | 4 | 8,100 |
Profit on disposal of shares | 5 | 64,900 |
Finance costs | ||
Interest payable | 6 | (67,200) |
Profit before taxation | 561,800 |
Note 4 – Loan interest receivable
The loan was made for non-trading purposes on 1 July 2012. Loan interest of £5,600 was received on 31 December 2012, and interest of £2,500 was accrued at 31 March 2013.
Required:
What is the loan interest receivable for the year ended 31/03/2013?