99 Tax Rate 6.0% 5.25% 8.0% Rate 5.0% 0.0% 0.0% Purc Tax Pr $0.00 $18, $0.00
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- For income tax purposes, what is the amount of gross income given the following amounts? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Group of answer choices P3,900,000.00 P1,600,000.00 P2,400,000.00 P1,700,000.00Calculate (A) actual sales and (B) sales tax liability:Total sales: $23,152.81 (includes a 5% tax.) (Round your answers to the nearest cent.) A. Actual sales B. Sales tax liabilityGiven the following information :sales R10 000 000,calculated gross profit R7 000 000 ,operating expenses R3 200 000,Interest income R60 000,Interest expense R250 000 and income tax 28% of profit before tax . Net profit after tax is ?
- A Non-VAT business reported the following:Sales P2,500,000Cost of Sales P1,000,000Purchases, inclusive of VAT P560,000How much is the amount of business tax payable?Calculate the following: Retail selling price Sales tax (6%) Excise tax (10%) Total price including taxes $1,200Sales (including sales tax) amounted to $27,612.50, and purchases (excluding sales tax) amounted to $18,000. What is the balance on the sales tax account, assuming all items are subject to sales tax at 17.5%?
- Calculate the actual sales since the sales and sales tax rung up together; assume a 6% sales tax. (Sales including sales tax were - $26,000)choose the letter of the correct answer Fara Corporation has accounts receivable of P400,000. Its manufacturing cost approximates 35 percent of selling price. The before-tax profit margin is 16 percent, and the inventory carrying cost is 4 percent of the selling price. Sales commissions are 7 percent of sales. What is Fara's average investment in accounts receivable? a. P64,000.00b. P84,000.00c. P164,000.00d. P184,000.00e. P284,000.00Revenue and expense data for Rogan Technologies Co. are as follows: 20Y8 20Y7 Sales $701,000 $610,000 Cost of goods sold 434,620 347,700 Selling expenses 105,150 103,700 Administrative expenses 119,170 122,000 Income tax expense 21,030 12,200 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Rogan Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent $fill in the blank 6de34503cfdf061_2 fill in the blank 6de34503cfdf061_3% $fill in the blank 6de34503cfdf061_4 fill in the blank 6de34503cfdf061_5% fill in the blank 6de34503cfdf061_7 fill in the blank 6de34503cfdf061_8% fill in the blank 6de34503cfdf061_9 fill in the blank 6de34503cfdf061_10% Gross profit $fill in the blank…
- Consider the following income statement: Sales $ 383,208Costs 249,312Depreciation 56,700Taxes 25% Calculate the EBIT. Calculate the net income. Calculate the OCF. What is the depreciation tax shield? Pls fastA VAT registered trader had the following transactions: Sales of good to private entities, net of VAT 2,500,000 Purchases of goods sold to private entities, gross of 12% VAT 896,000 Sales to GOCC, net of VAT 1,000,000 Purchases of goods sold to GOCC net of VAT 700,000 How much is the output tax?Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0