ABKA151 - Fundamentals of Income Tax Assessment v eva hulstein

1. How should the $25 Referral Credit be recorded in Runway’s incomestatement?2. When would Runway record the $25 Referral Credit? What are the journalentries Runway would record when the $25 Referral Credit is earned bythe Existing Customer? What are the journal entries Runway would recordwhen the $25 Referral Credit is redeemed against a $100 purchase madeby the Existing Customer?3. Runway is planning to adopt IFRSs in the near future. What is the relevantaccounting guidance it would follow under IFRSs?

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Search (Alt + Q) sert Layout References Review View Help O Editing Calibri (Body) A A Ap V 11 A BIU クv ニvニv P4-11B. LO 4-1, 4-2, 4-3, 4-5 Silly Lemon Films. Based on the following benefits in which she is interested, classify them as pre-tax or Kerry Palmer is reviewing benefits with you, the payroll accountant for post-tax deductions and if they are taxable or tax exempt for federal income tax. image K. Palmer Benefits Benefit Pre-Tax Post-Tax Тахable Tax Exempt Medical insurance FSA AFLAC Graduate School Tuition at $11,000 annually On-site meals

When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?   A. Create Bill B. Sales Tax Center C. Create Check D. Pay Bills

Research Problem 1. Lopez always had taken his Form 1040 data to the national brand tax preparers in a local mall, but this year, his friend Cheryl asked to prepare his return. Cheryl quoted a reasonable fee, and Lopez reasoned that, with finances especially tight in Cheryl's household, she could use the money. Lopez delivered his Forms W-2, 1099, and other documentation and said, "I'll pick up the finished return from you on Monday." Cheryl completed the return by that deadline, and without signing and reviewing the forms, Lopez allowed Cheryl to e-file it that day. The arrangement was that Cheryl would receive the refund through a special bank account and write Lopez a check for that amount, minus her fee. When the refund came through about three weeks later, Cheryl wrote Lopez a check for $2,400, and all parties were satisfied. Lopez gladly used Cheryl to e-file the next year's return using the same procedures. To his surprise, Lopez received a letter from the IRS about 18 months…

please answer part b.

Transactions for you to complete 1) Create A Supplier Account. Supplier: Ink Inspector Address: Oakville, ON Terms: N30 Exp acct: 5250 Licenses Tax Code: HI (HST @ 13%, included) 2) Create A Customer Account. Client: Noya Modeling Agency Terms: 1/15, N30 Address: Hamilton, ON Tax Code: H (HST @13%) Rev acct: 4050 Rev from services Credit Limit: $10,000 Change the Session Date to April 8, 2022 3) Enter the following transactions into Sage. Purchase Invoice #GB-806 Dated April 4 from Germ Busters; $3,750, plus HST for new sterilization equipment (add freight charges of $225 + HST). (Pay attention to the words! This is not sterilized needles; this is for sterilization equipment. You need to change the account number.) Sales Invoice Dated April 4 to Noya Modeling Agency $8,000, plus HST for laser treatments to remove tattoos on new models hired in the agency. Credit Card Sales Invoice Dated April 4 to One-Time walk-in clients. Sales Summary: $1,420, plus HST for laser treatments. Payment…

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Academic access to the FASB Codification is available through university subscriptions, obtained from the American Accounting Association. This subscription covers an unlimited number of students within a single institution. Once this access has been obtained by your school, you should log in to prepare responses to the following exercises. CE1.1 Describe the main elements of the link labeled “Help, FAQ, Learning Guide, and About the Codification.” CE1.2 Describe the procedures for providing feedback. CE1.3 Briefly describe the purpose and content of the “What’s New” link.

PLEASE ANSWER THEM ALL CORRECTLY FOR AN UPVOTE AND POSITIVE RATINGS.

Insert a pie chart with a 2-D visual effect for 2018 using all expense items in a new worksheet called, “Comparing Expenses”. Include all relevant labels, titles (not shown) and legends while changing the default colors. Thom-Pierre Consultants (TPC)       Tax Rate COMPARITIVE INCOME STATEMENT     30% for years ended 31 December               2018 2019     Revenues and gains           *Sales revenue           *Interest revenue           *Investment Income         *Other revenue           Total revenue and gains                       Expenses and losses         **Cost of goods sold          460,000       **Selling and admin administrative          195,000       ***Computer (operating)         **Depreciation             55,000       **Interest expense             25,200       Total expenses and losses         Income before taxes           Income tax expense (30%)         Net Income

. Download Target’s 2021 annual report. Do this in one of two ways: Go to the Target.com website: Annual Reports and Archive (target.com). Make sure you use the 2021 report. Or use the Mergent Online library database: https://guides.rasmussen.edu/mergent.   2. Using Target’s annual report, record your findings in a written report. Use complete sentences in a report format. Double-space your report. The report should be 5 paragraphs. Include a brief introduction, report the requested information from the three paragraphs below, and write a summary paragraph. Include in-text citations and an APA format reference page. There should be at least one reference given for the 2021 annual report. FAQ citing an annual report from Mergent Online FAQ citing an annual report from a website. Paragraph one: The statements start on about page 38. Use the 2021 numbers. Using a table, record the total revenue, operating income, and net earnings for 2021. Using sentences, explain what these numbers…

You have established your performance materiality for accounts payable and revenue; now you must determine the posting materiality for individual items. The materiality judgement is at 4%. What is the posting materiality? Show your work.   Your work should look like: APPROPRIATE AMOUNT x MATERIALITY JUDGEMENT = POSTING MATERIALITY

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