What is the amount paid for VAT in Feb? (VAT payable)
Q: White purchased 10% of an investee’s 100,000 outstanding ordinary shares on January 1, 2022 for P1,0...
A: Investors's stake while holding 1,00,000 ordinary shares 10% Investors's stake while holding add...
Q: ompkins Company reports the following inventory record for November: INVENTORY Date Activity # o...
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...
Q: A resident citizen taxpayer sold share of stock of a domestic corporation directly to the buyer at i...
A: Capital gain = Sales amount of shares - Cost of shares sold Capital gain tax = Capital gain * Tax r...
Q: elax Spa Company is engaged in providing facial and body treatment in a spa centre. Customers are r...
A: A financial statement is the written records of the company that coveys business activity and shows ...
Q: Rick Rambis operates a ski lodge center at Bull Mountain in Alaska. He has just received the monthly...
A: Bank reconciliation is the process of comparing the balances in an entity's accounting records for a...
Q: Russia Company provided the following information on December 31, 2021: Jan. 15, 2022 - P3,000,000 o...
A: A company prepares its financial statements showing profitability...
Q: Partners A and B receive a salary allowance of $35,000 and $45,000, respectively, and share the rema...
A: Salary allowance : Partners A = $ 35000 Partners B = $ 45000 Share = Equally Company earned = $ 5000...
Q: produces and sells lumber that can be sold to outside customers or within the company to the Constru...
A: Internal transfer means where one independent department is transferring the goods to another indepe...
Q: Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit va...
A: (a) 1. Total Material Variance = (Standard Quantity for Actual Output x Standard Price) - (Actual Qu...
Q: a) Statement of Retained Earnings for the year ending December 31, 2020 b) Statement of Cash Flows f...
A: Statement of Cash Flow Cash flow statement which is consist of three main parts. The details are gi...
Q: comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the bas...
A: Comparative statement is the statement of comparison between the two financials. it is the statement...
Q: Lukas Douglas' filing status is married filing separately, and he has earned gross pay of $2,100. Ea...
A: Earned gross pay = $2100 Contribution = 11% x 2100 = $231 Flexible pay spending = $80 Gross pay af...
Q: Feal-Goode Inc. purchased a patent on a new drug. The patent cost S12,000. The patent has a life of ...
A: Formula: Amortization expense per year = Patent cost / Useful life years
Q: .. Comparative balance sheet accounts of Blue Inc. are presented below
A: In this question, we have to make a cash flow by direct method and by the indirect method Cash flow...
Q: Question 29, P1-10 (similar to) Part 1 of 2 Interest versus dividend expense Michaels Corporation ex...
A: It is pertinent to note that dividends are paid to shareholders/owners of an entity whereas interest...
Q: The first day of the fiscal year, a company issues a $700,000, 6%, 10-year bond that pays semiannual...
A: Bonds are issued by the company because it is it cheaper source of finance. It is because tax expens...
Q: PLEASE ANSWER THIS QUESTION ASAP. THANK YOU SO MUCH. In connection with your audit of the financial...
A: Solution Ordinary shares are the stocks sold on a public exchange . Each share of a stock generally ...
Q: Activity 1- ACCHT 221 - RECORDING TRANSACTIONS ; POSTING TO LEDGER AND PREPARATION OF TRIAL BALANCI ...
A:
Q: Course Name: Principles of Finance Assignment Questions: Q1. Rami deposits $60,000 today in an accou...
A: Returns on Investment: A return, in any case, called a money-related return, in its least demanding ...
Q: RUSS corporation was organized May 1, 2020 with authorized 120,000 ordinary shares of P15 stated val...
A: * As per the bartleby guidelines, in case of interlinked question answer first 3 only 1. Subscriptio...
Q: Illustration 2. Non-Controlling Interest On January 1, 2021, Inahan Co. acquired 75% of the voting s...
A: 1. Previously held equity untereat in the aquiree is a 0.00 since Inhaan Co. acquired 75% share on ...
Q: In its first year of business, Miss Take, the bookkeeper, erroneously recorded $10,000 of product co...
A: Period costs are not manufacturing costs and are fully expensed in the period which they are incurre...
Q: A resident citizen taxpayer sold share of stock of a domestic corporation directly to the buyer at i...
A: Capital gain = Fair market value on date of sale – Cost of the shares sold = P...
Q: |Assume that Monsanto Coporation is considering the replacement of some of its older and outdated ca...
A: The marginal cost benefit analysis takes into account the incremental costs and benefits associated ...
Q: James Company purchased 900 shares of POP Company's stock as a long-term investment for $57,600. Fou...
A: Formula: Purchase price per share = Total purchase value / Number of shares purchased
Q: Lucus Laboratories' last dividend was $1.50. Its current equilibriuem st- expected to grow at a cons...
A: The dividend yield is a kind of financial ratio that tells about the shares price percentage of a co...
Q: verage corporate tax rates Ordinary income in 2017 was taxed subject to the rates shown in the accom...
A: Total tax liability = Base tax + Marginal tax Marginal tax = Marginal rate * amount over bracket low...
Q: Periodic: Computing cost of goods sold Chazen Company's inventory balance at the beginning of the ye...
A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory Net purchases = Gross purcha...
Q: Slow Running Shoes uses the Aging of receivables method to account for uncollectible accounts. The ...
A: The balance sheet represents the financial position of the company that includes the assets, liabili...
Q: Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate ...
A: Time value of money is the concept that is widely used by the management to determine the actual wor...
Q: he following CVP income statements are available for Cullumber Corp. and Ivanhoe Cullumber Ivanhoe, ...
A: COST VOLUME ANANLYSIS is used to do analysis of how changes that has took place in cost and volume a...
Q: Remy opened her Tours4Fun business. During the first month, January, she completed the following tra...
A: Pencil footing the ledger means the total balance of both side of ledger. After pencil footing balan...
Q: Illustration 1. Measuring Goodwill/Gain on Bargain Purchase On January 1, 2021, Amahan Co. acquired ...
A: Business acquisition is an act of buying the business of another company either way full interest or...
Q: ed on giving them a significant cash bonus in the following month. The chief financial officer (CFO)...
A: The following are resons for the having high profit with insufficient cash 1) Credit sales: If credi...
Q: Satellite Corporation has the following investments at December 31, 2020: E (Click the lcon to view ...
A: Lets understand the basics. When investment is valued at fair value through OCI then if there is cha...
Q: (ii) The company has two deliver trucks and uses the units of production method to compute the depre...
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-part...
Q: Compute total current liabilities on December 31, 2021.
A: Current Liabilities are the liabilities which are expected to be paid next 12 months or which are sh...
Q: How are the Income Statement and Balance Sheet linked when closing accounts?
A: Introduction: Any account that has been deactivated or canceled, whether by the client, custodian, o...
Q: In 2020, Dare Company began selling a new calculator that carried a two-year warranty against defec...
A: A warranty liability is a liability account in which a company records the amount of the repair or r...
Q: Q.1 A) A Company need Rs. 31,25,000 for the construction for new plant the following three plans are...
A: The capital structure of a company states how much capital is invested in the different types of fin...
Q: Adelphia Brokers, a full service brokerage house, brought in William N. Thomas, a specialist in fina...
A: Lets understand with the basic. Here in this case, we are required to calculate the total cost of th...
Q: B. CAPITAL BUDGETING Situation: Assume that you are planning to invest for the expansion of your bus...
A: NPV : Net present value, or NPV, is used to calculate the current total value of a future stream of ...
Q: Journal entries a. $30,000 cash was borrowed on a five-year 10% note payable, dated 5/1/2021. b. $...
A: Solution A journal is the company's official book in which all business transactions are recorded in...
Q: The total assets and the total liabilities of Paragon Services are shown below. During the year, no ...
A: Formula: Drawings = Beginning equity + Net income - Ending equity
Q: n 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clar...
A: As per the guidelines we can solve the 3 parts of any question (first 3 ). so answer for remaining p...
Q: Kequired ImomatioIn • Selling price per unit $ 7 per unit • Accounts receivable, beginning balance 6...
A: A cash payment budget is prepared to forecast the future expected payments to be made by the company...
Q: is to be for 3 years ning of each year. inoy has a fair volu
A: C) Journal entries in the books of Garcia for the year 2017 Date Particulars Debit ($) Credit ($)...
Q: ASSIGNMENT #3 – Determine the missing amounts in cells numbered 1– 12. Ensure equality of the First ...
A: The accounting equation states that assets equal to sum of liabilities and equity. Every transaction...
Q: a. Identify the type of lease involved and give reasons for your classification. Discuss the account...
A: The type of lease involved is an operating lease because the asset is not a specialised asset and th...
Q: On January 1, 2020, Jam Company reported as investmonts the following unquoted equity shares: long t...
A: Journal entry refers to the process of recording business transactions for the first time in the boo...
Step by step
Solved in 2 steps
- How much is the VAT Payable in April? Given the following data during the 2nd quarter of 2022 Month Output Tax Input Tax April May 12,000.00 18,000.00 24,000.00 7,000.00 15,000.00 June 10,000.00 In the books, there was a debit balance of input tax amounting to 6,000 from preceding quarter. 1,000 5,000A VAT taxpayer had the following data on its operations for he month of January 2018:Sales, total invoice price P 592,480Purchases of goods, VAT not included:From VAT registered persons 100,000From nonVAT registered persons 8,000From persons subject to percentage taxes 10,000Salaries of employees 60,000Other operating expenses 12,000This is the first month of being liable to value added tax. Data in inventories at the beginning of the period bought from VAT registeredpersons follow:Inventory at cost P 44,800Inventory at realizable value 49,000Value added tax paid on beginning inventory 4,80016. How much is the input tax?17. How much is the value added tax payable?1. How many units of Product Very Good would have to be sold in October 2021 in order to generate an net income after tax of P22,500?
- Oakdale Fashions, Inc. had $245.000 in 2018 taxable income. Using the tax schedule in Table 23 to calculate the company's 2018 income taxes. (Round your answer to the nearest dollar amount.) Income taxes What is the average tax rate? (Round your answer to2 declmal places.) Average tax rate What is the marginal tax rate? Marginal tax rateThe following transactions have been processed on the VAT control account in October: Balance b/f Output tax Input tax Payments to tax authority £ 21,850CR Answer: 132,430 109,110 25,000 What is the value of the balance carried forward into November? Enter your answer as a value with no E sign, commas or decimal places.A VAT-taxpayer made the following sales during the year:Domestic Sales P100,000Export Sales P120,0001. What is the amount subject to business tax?2. Compute the Output VAT.what is the formula of input and output tax? how tp compute? example is this : The transactions for ABC Company for the month of April, 2015 are shown below. (Assume the company is a vat registered business and assume 12% VAT is inclusive in the amounts in the transactions.) April 3 Sold merchandise to Mr. Santos on account, P280,000, FOB shipping point, terms: 2/10, n/30.A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be the companys pre-tax income in order to have $60,000 after-taxes? A. $88,235 B. $19,200 C. $79,200 D. $143,00029. A VAT-taxpayer made the following sales during the year: P 100,000 Domestic Sales Export Sales 120,000 What is the amount subject to business tax? 30. In the immediately preceding problem, compute the Output VAT.The following information relates to Eva Co's sales tax for the month of March 20X3:$Sales (including sales tax) 109,250Purchases (net of sales tax) 64,000Sales tax is charged at a flat rate of 15%. Eva Co's sales tax account showed an opening credit balanceof $4,540 at the beginning of the month and a closing debit balance of $2,720 at the end of themonth.What was the total sales tax paid to regulatory authorities during the month of March 20X3?1. 2. 3. 4. 5. 6. 7. search Swifty's cash register showed the following totals at the end of the day on March 17: pre-tax sales $56,000, GST $2,800, and PST $3,920. Swifty remitted $49,000 of sales taxes owing from March to the government on April 30. Swifty received its property tax bill for the calendar year for $55,200 on March 31, payable May 31. Swifty recorded no entries pertaining to property tax during the current year prior to the receipt of this bill. Swifty paid its employees for the week of August 15 on August 20. The gross pay was $83,000. The company deducted $4,128 for CPP, $1,312 for El, $6,400 for pension, and $16,020 for income tax from the employees' pay. Swifty recorded the employer portions of CPP and El for the week of August 15 on August 20 for $4,128 and $1,837, respectively. On September 15, all amounts owing for employee income taxes, CPP, and El pertaining to the payroll transactions above were paid. On December 31, Swifty's legal counsel believes that the…Dakdale Fashions, Inc. had $245,000 in 2018 taxable income. Using the tax schedule in Table 23 to calculate the company's 2018 income taxes. (Round your answer to the nearest dollar amount.) Income taxes What is the average tax rate? (Round your answer to 2 declmal places.) Average tax rate What is the marginal tax rate? Marginal tax rate ( Prev 12 of 40 E Type here to search 中 DELL F2 F4 F5 F7 F8 F10 F11 F12 PrtScr Insert Coca 24 4 V 23 ) %3D 5. 9. 8. R { } P.SEE MORE QUESTIONS