computing the taxable income of a compensation income earner, what is deducted from his total (overall) compensation to derive at the taxable compensation income?

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A: Right issue gives right to the existing shareholders for purchase of shares at a discounted price or...

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A:                               Patent is an intangible fixed asset.  It is amortised every year as pe...

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A: Straight line method is a method for charging depreciation in which depreciation is charged at a uni...

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A: Under straight line depreciation method, annual depreciation is based on useful life in years. Book ...

Q: Burris Corporation is authorized to issue $720,000 of 7% bonds. Interest on the bonds is payable sem...

A: Accrued interest = Face value of bonds x rate of interest x no. of months / 12 months 

Q: 3) Misnap is a manufacturing firm. In April, it had a beginning inventory balance in its raw materia...

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Q: On January 1, 2021, Mirakulo Company acquired P4,000,000 of 12% face amount bonds for P3,767,000 to ...

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A: a) The procedures used to calculate unit costs in manufacturing industries are not applicable to ser...

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A: Balance-sheet is an important part of Accounting.Also it is the base of basic accounting.Financials ...

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A: Restoration cost shall be capitalized. And also depreciation shall be deductible on such cost. Resto...

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A: GIVEN   The direct materials are used in the production of gummy bears is

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A: In case of multiple subpart question first three subparts are solved. To start a new business, one n...

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A: The significant tax implication for the year are summarized by calculating the Adjusted tax basis of...

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A:  

Q: On January 1, 2020, Soledad Company purchased 10% bonds with face amount of P3,000,000. The bonds ma...

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Q: 1

A: Given : The Initial cost of the machine is $300,000. The New machine depreciates in 5 years MACRS ra...

Q: DEFINE AND INDICATE TYPES OF DUMPING.

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A: the constant cost are those cost and industry where is firm cost are not impected by entry or exit o...

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A: Labour efficiency variance is the variation in the standard hours required for actual production and...

Q: Citricacid plc budgets during its first year of operations to produce and sell 38,160 litres of prod...

A: Solution...     Total production cost per unit  = Variable production cost + fixed production cost  ...

Q: QUESTION 1 The financial statements identify financial position, performance and changes in cash flo...

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A: Introduction;- Calculation of Break-even sales as follows under:- Break-even sales =Fixed cost / Con...

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A: Journal is the book of original entry in which all the transactions of the business are recorded ini...

Q: DS Unlimited has the following transactions during August. August 6 Purchases 78 handheld game ...

A: Periodic Inventory System - Under periodic inventory system cost of goods sold will be calculated at...

Q: What is the process of developing a strength/weakness balance sheet?

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Q: On January 1, 2021, Illuminati Company purchased 10% bonds with a face amount of P3,000,000. Th bond...

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Q: Citricacid plc budgets during its first year of operations to produce and sell 38,160 litres of prod...

A: Total Units Produced = 38400 + 960 = 39360 units Total Budgeted Variable Cost of Production = 3.54*3...

Q: Required: 1-a. Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing m...

A: Under FIFO Method, units which comes in first will be sold first and the inventory will be out of th...

Q: Govender Wholesalers entered into the following transactions during February 2016 (IGNORE VAT). They...

A:       Date Asset Liability Equity 01-02-16 +640000   +640000 08-02-16 +153...

Q: Please solve it ASAP with all requirements Q.7. Toews Ltd has prepared the following flexible budget...

A: A planned cost is a prediction of what a company will spend in the future. To put it another way, it...

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A: 1. Simple Average of Price Relative Method is the relevant method as multiple products are involved ...

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A: The term "gross-up payroll" indicates a rise in basic pay that is done on purpose in order to lower ...

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A: Depreciation expense is the amount which shows the decrease in the value of asset over its useful li...

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A: Cost refers to the amount incurred in return for goods or services. 

Q: I need

A: In this question, we have to compute financial advantage / disadvantage.

Q: per unit, fixed manufacturing overhead costs total $185,000 per month, and fixed selling costs total...

A: The impact on income from closing the plant would be the loss in contribution margin for the 9,000 u...

Q: Blossom Corp.’s sales slumped badly in 2020. For the first time in its history, it operated at a los...

A: The question is based on the concept of Cost Accounting.

Q: X derived the following income in 2020, shade A if the income is subject to regular income tax, B if...

A: Answer 1. Capital gain on the sale of stock directly to buyer = C. It is subject to Capital gain tax...

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A: Capitalized cost of the equipment = Down payment + Present value of Note + Shipping charges + Instal...

Q: Budgets identify, gather, summarise, and communicate: a)  Financial data only. b)  Financial and n...

A: A budget is a prediction of taxes and expenditure for a certain future time period that is frequentl...

Q: PLEASE don't use excel for this. Show the solution with formula needed. SIMPLE INTEREST 1. You owe P...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: On January 1. 2021, Family Company purchased 10% of San Company's 100,000 outstanding ordinary share...

A: An increase in fair value of 10% interest which is acquired on January 1, 2021 is not reported as in...