a. Calculate the Net profit after tax of Al Musona LLC for the year ended OMR 1,365,000 OMR 1.065,000 None of the listed choices OMR 1.425,000

Q: Company A is preparing its financial statements as at 31 December 20X3. On 31 December 20X3, Company…

A: DTL refers to the Deferred tax liability which is reported on the balance sheet of company and it…

Q: The Johnson's Company had net income(after tax) = 500,000 USD, Johnson's Company's income statement…

A: Times Interest Earned is the ratio that depicts how many times the organization can cover its…

Q: A company had a gross income of $7.5 million for the year in 2019. Depreciation in the year is…

A: The question is based on the calculation of tax amount for a firm, tax amount  is charged on the…

Q: The Johnson's Company had net income (after tax) = 500,000 USD, Johnson's Company's income statement…

A: Times interest earned ratio is a ratio calculated to determine how many times the earnings available…

Q: The reported pretax financial income of Luciano Company is P1,800,000 and current income tax rate is…

A: Financial Income 1800000

Q: Gina Company reported income before tax of P3,500,000 for 2020 which included the following amounts:…

A: Net income is calculated by deducting all expense from the total revenue. It includes operating as…

Q: P5 Pre-tax profit Items not recognized at year-end were as follows: Prepaid insurance Accrued wages…

A: Pretax profit =5000000 Prepaid insurance =250000 Accrued wages =200000 Rent revenue collected in…

Q: Given the following information, compute Peach Company’s income taxes paid Decrease in income taxes…

A: Since, income tax payable has reduced by 600, it means that out of total payment of taxes, $600 is…

Q: come tax.   Please consider the following information: Rent income received in advance P150,000…

A: Solution: The permanent difference "Interest income on time deposit  200,000".

Q: Undaunted Company failed to recognize accruals and prepayments since the inception of business three…

A: The income statement should consider all accrued expenses incurred but not the advance payment made…

Q: The accounting profit before tax of Cherry Ltd for the year ended 31 December 2012 amounted to…

A: Accrued Interest Payable Accrued interest payable is the provision which are made by the entity at…

Q: A company reports 2021 pretax accounting income of $38 million, but because of a single temporary…

A: Introduction: Taxable Income is the Income earned and received during the tax year on which…

Q: 1st statement: Taxable income from self-employment (business and profession0 is reported on a…

A: BIR Form 1701: Annual Filing of Income Tax Return shall be filled by For Self-Employed Individuals,…

Q: Data for item nos. 24 & 25 Di Ka Na Mahal Company reported the following information during the…

A: Pretax financial income P90,00,000 Less: Nontaxable interest received -P10,00,000 Add: Long-term…

Q: Principal Services Group had a 2021 Net Loss of $460,000. The company tax rate is 27% and pre-tax…

A: Lets understand the basics. When there is temporary taxable difference arise between the book profit…

Q: 2. Debtor Corporation shows the following data during taxable year: Sales P 500,000 Interest Income,…

A: Deductions means those items that are deducted from the gross income of the company. The deductions…

Q: pretax profit of P2,000,000. The income tax rate 2 Bus Co. has a The only temporary differences at…

A: Deferred Tax Liability: Deferred tax liability  is a liability  that  is created  due to a…

Q: M&M Company's income statement for the year ended December 31, 2020 (considered as the fifth of…

A: Solution: taxable income = pretax financial income - excess revenue under accounting records -…

Q: The SGS Co. had $227,000 in taxable income. Use the rates from Table 2.3. (Do not round intermediate…

A: Given:

Q: Vhembe Limited manufactures and sells lawnmowers online to the public. The company produced a profit…

A: Tax accounting is the branch of accounting that deals with preparing and paying taxes. Individuals,…

Q: For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income…

A: Solution: Taxable income = $265,000 Taxable temporary differences = $20,000 Tax rate = 25%

Q: Flip's Pizzeria Inc. has the following financial items for the current year: Adjusted Taxable Income…

A: SOLUTION- INTEREST EXPENSE DEDUCTION= [(30% * ADJUSTED TAXABLE INCOME BEFORE INTEREST) + BUSINESS…

Q: Concord Corporation had income before income taxes of $205,200 in 2020. Concord’s current income tax…

A: Deferred  taxes if it is expense it should  be reduced from income

Q: The SGS Co. had $215,000 in taxable income. Use the rates from Table 2.3. (Enter your answer as…

A: Taxable income = $ 215,000The question necessitates usage of table 2.3, which obviously doesn't form…

Q: he pretax financial income (or loss) figures for Tamarisk Company are as follows. 2017   78,000…

A: The process of recording business transactions in the books of accounts for the first time is known…

Q: The Stone Inn earned $167,284 in taxable income for the year. How much tax does the company owe on…

A: The tax owed by the company can be calculated as per the tax slab.

Q: An entity reported the following information during the first year of operations: Pretax financial…

A: When a tax obligation is accumulated in one financial year but not paid until the following year, a…

Q: Undaunted Company failed to recognize accruals and prepayments since the inception of business three…

A: To arrive at corrected net income, various adjustments of prepayments and accrued expenses and…

Q: A mixed income earner realized P920,000 from compensation, P2,000,000 in sales, P100,000 other…

A: Income tax is levied by the central and state government on the income earned by the firm in the…

Q: The pre-tax income statements for Moonstone Ltd. for two years (summarized) wer 20X8 20X9 Revenues…

A: The answer is stated below:

Q: A domestic corporation had the following cumulative data in a year:     1st Qtr 2nd Qtr 3rd Qtr…

A: An itemised deduction seems to be a cost that may be subtracted from your adjusted gross income…

Q: Misty Company reported the following before-tax items during the current year: Sales revenue $950…

A: Net income is computed by subtracting the taxes from the income from all operations before tax. Data…

Q: Assume that Shoreline Hotel Inc., (SHI) decides to make the following entry on December 31, 2018.…

A: Lets understand the basics. When current tax expense is same as income tax payable then accounting…

Q: Antignolo Enterprises, Inc. (a corporation) reported the following information for 2020. Don't…

A: Net income is calculated by deducting the operating expenses from operating revenues of the company.

Q: 21. A non-VAT business reported the following: Sales P 2,500,000 Cost of Sales 1,000,000 Purchases,…

A: Value-added tax is an indirect tax charged on the value of goods or services at each stage of supply…

Q: Poe Company failed to recognize accruals and prepayments since the inception of business three years…

A: Accrual of expenses and income reduces the profit, while prepayment of expenses increases the profit…

Q: BDO Company reported the following on December 31, 2015: Income before tax for accounting purposes…

A: Taxable temporary difference arises when the current period's taxable income is lower than the…

Q: Question 1 Toodles Inc. had sales of $1,840,000. Cost of goods sold, administrative and selling…

A: Operating cash flows (OCF) = EBIT - tax + Depreciation

Q: WEB Company had pretax financial income of P 2,500,000 in the current year. The entity made…

A: Interest received is subject to final witholding tax. It will be treated as permanent difference…

Q: Pecorino Company had pretax financial income of P2,500,000 in the current year. The entity made…

A: Solution: Amount of total tax expense = (Pretax financial income - Interest income) * tax rate

Q: 34. Thinker Corporation's income statement for the year ended December 31, 2022, shows pretax income…

A: Introduction: Income tax payable is the amount due on the taxable income of the business earned by…

Q: For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income…

A: Income tax payable is the Amount of tax liability on taxable income which is to be paid.

Real Estate

Real estate means ownership of land along with the assets and natural resources that exist on the land. These properties are in real/physical form which is tangible. Real estate simply means land or addition made to land permanently like constructing a residence or different buildings. People invest in real estate to either reside or for wealth creation. Many people investing in real estate further lend the place for occupation or businesses in return for a monthly payment.