The Following Information Was Extracted from the Accounting Records of Penguin

question 17

Multiple Choice

The following information was extracted from the accounting records of Penguin Pty Ltd for the year ended 30 June 20X9:
$\begin{array} { l r } &\$\\\text { Interest revenue } & 500000 \\\text { Sales revenue } & 5000000 \\\text { Dividend revenue } & 1500000 \\\text { Depreciation expense } & 700000 \\\text { Wages and annual leave expense } & 1500000 \\\text { Other expense } & 3000000\end{array}$
The company income tax rate is 30%.
The annual leave expense totaled $300 000, and $100 000 of annual leave was paid during the year.
The dividend revenue is not assessable income.
-What is Penguin Ltd's assessable income?

• A)$7 000 000
• B)$5 500 000
• C)$5 000 000
• D)$300 000

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Definitions:

Polymerization Mechanism

A process by which monomer units are chemically bonded together to form polymer chains, governed by various types of reactions such as addition or condensation.

Monomer Structure

The basic unit or building block that can be repeated to form polymers through chemical bonds.

Polyurethane

A polymer composed of organic units joined by carbamate (urethane) links, used in foams, elastomers, and coatings.

Monomer Units

Small molecules that can be bonded together to form polymers.