Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time.
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Below are the restated amounts of net income and retained earnings for Volunteers Incorporated and Raiders Incorporated for the period 2015 to 2024. Volunteers began operations in 2016, while Raiders began several years earlier.
Required:
Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign.)
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- 5. Lia is a cash basis self-employed air-conditioning repairman with 2022 gross business receipts of P2,000,000. Lia's cash disbursement were as follows: Air conditioning parts 250,000 Facebook Advertisement 20,000 Estimated national income taxes on self-employment income 10,000 Internet bill 34,000 Allowed charitable contribution 170,000 What amount should Lia declare as taxable income? A. P1,516,000 B. P1,526,000 C. P1,526,400 D. P1,686,0001. soru At the end of 2019, The Business with 20% Corporate tax rate has Expenses: TL3.150.000 and Revenues: TL3.375.000. How much is the Tax Payable if the business prepaid income tax of TL15.000 during the accounting period? a.TL30.000 b.TL15.000 c.TL45.000 d.TL60.000Accounting 1. In 2022, a corporation earns $65,000 from its business operations and has $10,000 of dividend income. It donates $12,000 to charity. Show how you determine taxable income.
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- A derived its income from its self-operated talpakan business. The details of his business for 2021 are as follows: Gross Receipts - P100,000.00 Operating Expenses - P50,000.00 Income taxes withheld in general - P10,000.00 Question: What is A's taxable income? Group of answer choices P40,000.00 P50,000.00 P90,000.00 P100,000.001- Afifi sole proprietorship provides his tax report for 2012 to tax department; they suffered loss as 330,000 NIS. The following 6 years, he provides tax reports with an income as the following: {130,000 / 60,000 / 120,000 / 60,000 / 120,000 / 62,000}. Required: calculate the income tax for each year according income tax law 8/2011:May I ask for an explanation and solution to the question for a better understanding. Thank you! 11. What is the amount of Sculler's working capital at December 31, 2021? a. P41,000 b. P45,000 c. P50,000 d. P91,000
- A derived its income from its self-operated talpakan business. The details of his business for 2021 are as follows: Gross Receipts - P100,000.00 Operating Expenses - P50,000.00 Income taxes withheld in general - P10,000.00 Question: Assuming that the tax rate is 25%, what is the income tax payable of A? Group of answer choices P2,500.00 P12,500.00 P25,000.00 P15,000.00Accounting income or loss for Brock Corporation follows: 2017 $240,000 2018 375,000 2019 120,000 2020 (240,000) 2021 (570,000) 2022 195,000 2023 217,500 For all years above, the accounting income was the same as the taxable income. The tax rate for 2017 and 2018 was 30%. The tax rate for 2019 to 2023 was 25%. Instructions Prepare the tax-related journal entries for 2019 to 2023. Brock Corp. believes that it will be able to use any loss carryforward in future years. Brock will use the available carryback provisions to the earliest years first. Include your calculations.Paolo Corp generated the following income/(loss) since it's inception in 2017: YearIncome/(loss) 2017 (5,000) 2018 7,000 2019 14,000 2020 (20,000) If Paolo generates $4,000 of income in 2021, what is the NOL carryforward to 2022? a.$3,200 b.$20,000 c.$800 d.$0 e.$4,000