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Calculate Mr. Mambo's total annual income from rent, commissions, and dividends.
Accounting
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Step-by-step solution
2 stepsHere's how to calculate Mr. Mambo's total income:
Identify all sources of income.
Mr. Mambo's income sources are:
- Rent from his houses: Sh 150 000
- Commissions: Sh 48 000
- Dividends on shares: Sh 210 000
Calculate the total annual income.
Total income is the sum of all these sources.
To calculate the income tax Mr. Mambo should pay, the specific income tax rates or tax brackets are required, which are not provided in the question. Assuming these rates would be necessary to determine the final tax amount.
The total annual income for Mr. Mambo is .
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