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(Solved): Johnson University has the following transactions in Financial Year 2020/21Number of Students 30 ...



Johnson University has the following transactions in Financial Year 2020/21

Number of Students – 300

Tuition – 1,000,000 per semester

Vice Chancellor's salary – 5 million per month

Lecturer’s salary – 1 Million per month

Support staff salary – 200,000 per month

Expenses on education – 30 million

Extra information:

  • 30 students dropped out after the first semester and ten didn’t pay even for the first semester
  • The University has 10 lecturers, a cleaner, and a gatekeeper
  • The University’s Vice Chancellor, Prof. Mukasa resigned in March 2021 and Prof. Mungai, a Kenyan Vice-Chancellor was appointed for a three months period for April to June 2021.

Required:

  1. What will be the tax remittance schedule for Johnson University for FY 2020/21:

  1. Would it have made a difference if the Prof. Mungai had been Vice Chancellor for the whole year?



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To determine the tax remittance schedule for Johnson University for the FY 2020/21, we need to consi...
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