Assume the partnership is a General professional partnership, compute for the total tax due (basic tax and final tax) by Martis.

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A: Retained Earnings The calculation of retained earnings is added the net earning which are incurred i...

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A: Total amount payable to Fernetti = $14, 900×2 partners = $29, 800  

Q: The Maggie Company has a defined benefit pension plan for its employees. The following information p...

A: Ending projected benefit obligation = Beginning Projected benefit obligation + Service cost + Intere...

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A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

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A: A special order refers to the special one-time order made by a customer where the management has to ...

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A: Formula: Predetermined overhead rate = ( Variable + Fixed overhead ) / direct labor hours

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A: These are the accounting transactions that are having a monetary impact on the financial statement o...

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A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net...

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A: calculation of above requirement are as follows.

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A: Dollar base lifo method of inventory valuation is the method which consider dollar value in valuatio...

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A:   Category of Asset Date Acquired Historical Cost Accumulated Dep Use Full Life Original  Use Ful...

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Q: Silver Ltd. has 35 employees who work 8-hour days and are paid hourly. On January 1, 2020, the compa...

A: the liability to be provided on 2020 is35×8×10×12.90=$36120

Q: Part 1 Kelly Consulting Post-Closing Trial Balance April 30, 20Y8   Account No. Debit Credit C...

A: Journal entries are the recording of financial transactions of the business in accordance with the g...

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A: Formula: Sales revenue = Sales units x sales price per unit

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A: The adjusted journal entries are passed for the month ended, quarter ended or year ended. According ...

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Q: 22. It uses the physical inventory system of accounting for your examination, you discovered that th...

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Q: Jen Corporation retires its P 500,000 face value bonds at 105 on January 1, following the payment of...

A: Bonds when redeemed at more than the carrying value of the bonds they record loss .

Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and...

A: The variable cost per unit remains constant at every level of production. 

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Q: Question 3: Property tax Aamir owns property with an assessed value of $500,000. Khaled’s property ...

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Q: The outside basis is defined in the internal revenue code as a partner's basis in the partnership in...

A: True

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A: Spending variance = $60000 U Volume variance = $260000 U

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Q: On January 1, 2015, Visaries Corporation was established. On that day, it issued 200,000 shares at a...

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Q: Any-How Restaurant sells grilled chicken at P350.00 each and incurs a variable cost per unit of P300...

A: Contribution margin per unit = Selling price - Variable cost            = 350 - 300            = 50 ...

Q: Ocean Company recently acquired several items of property, plant and equipment. The transactions are...

A: Fixed assets are those assets which are held by the business for longer period of time and business ...

Q: Rebecca and Gregory, a married couple filing a joint return, reported adjusted gross income of $70,0...

A: ANSWER Amount $ 500 of state income tax refund will be included in gross income of 2020.   Working S...