E.x.c.l.u.s.i.o.n. .f.r.o.m. .G.r.o.s.s. .I.n.c.o.m.e. N.o.t.e.:. .I.n.c.o.m.e. .t.a.x.a.t.i.o.n. .-. .P.h.i.l.i.p.p.i.n.e.s. .b.a.s.e.d W.h.e.n. .i.s. .a..n .e.d.u.c.a.t.i.o.n.a.l. .i.n.s.t.i.t.u.t.i.o.n. .e.x.e.m.p.t. .f.r.o.m. .i.n.c.o.m.e. .t.a.x.? S.t.a.t.e. .t.h.e. .r.u.l.e.s. .w.h.e.n. .a. .s.e.n.i.o.r. .c.i.t.i.z.e.n.'.s. .i.n.c.o.m.e. .i.s. .n.o.t. .s.u.b.j.e.c.t. .t.o. .i.n.c.o.m.e. .t.a.x. A.r.e. .p.r.i.z.e.s. .t.o. .b.e. ..a.w.a.r.d.e.d. .t.o. .i.n.d.i.v.i.d.u.a.l. .i.n.v.e.n.t.o.r. .s.u.b.j.e.c.t. .t.o. .t.a.x.?. .W.h.y.? W.h.a.t. .i.s. .a. .B.a.r.a.n.g.a.y. .M.i.c.r.o. .B.u.s.i.n.e.s.s. .E.n.t.e.r.p.r.i.s..e?. G.i.v.e. ..e.x.a.m.p.l.e.s. .o.f. .t.h.e. .t.a.x.a.b.l.e. .i.n.c.o.m.e. .o.f. .a. .c.o.o.p.e.r.a.t.i.v.e.

E.x.c.l.u.s.i.o.n. .f.r.o.m. .G.r.o.s.s. .I.n.c.o.m.e. N.o.t.e.:. .I.n.c.o.m.e. .t.a.x.a.t.i.o.n. .-. .P.h.i.l.i.p.p.i.n.e.s. .b.a.s.e.d W.h.e.n. .i.s. .a..n .e.d.u.c.a.t.i.o.n.a.l. .i.n.s.t.i.t.u.t.i.o.n. .e.x.e.m.p.t. .f.r.o.m. .i.n.c.o.m.e. .t.a.x.? S.t.a.t.e. .t.h.e. .r.u.l.e.s. .w.h.e.n. .a. .s.e.n.i.o.r. .c.i.t.i.z.e.n.'.s. .i.n.c.o.m.e. .i.s. .n.o.t. .s.u.b.j.e.c.t. .t.o. .i.n.c.o.m.e. .t.a.x. A.r.e. .p.r.i.z.e.s. .t.o. .b.e. ..a.w.a.r.d.e.d. .t.o. .i.n.d.i.v.i.d.u.a.l. .i.n.v.e.n.t.o.r. .s.u.b.j.e.c.t. .t.o. .t.a.x.?. .W.h.y.? W.h.a.t. .i.s. .a. .B.a.r.a.n.g.a.y. .M.i.c.r.o. .B.u.s.i.n.e.s.s. .E.n.t.e.r.p.r.i.s..e?. G.i.v.e. ..e.x.a.m.p.l.e.s. .o.f. .t.h.e. .t.a.x.a.b.l.e. .i.n.c.o.m.e. .o.f. .a. .c.o.o.p.e.r.a.t.i.v.e.

Accounting Information Systems

11th Edition

ISBN:9781337552127

Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Chapter13: The Accounts Payable/cash Disbursements (ap/cd) Process

Section: Chapter Questions

Problem 2DQ: This chapter discusses both fraud and non-fraudulent losses in the AP/CD process. Describe any...

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G-i-v-e- -a- -s-i-m-p-l-e- -e-x-p-l-a-n-a-t-i-o-n- -w-i-t-h- -e-x-a-m-p-l-e- -o-f- -t-h-e- -f-o-l-l-o-w-i-n-g-: T-o-p-i-c-:- -I-n-t-r-o-d-u-c-t-i-o-n- -t-o- -F-i-n-a-n-c-i-a-l- -M-a-r-k-e-t-s R-o-l-e-s- -a-n-d- -i-m-p-o-r-t-a-n-c-e- -o-f-: M-o-n-ey- -M-a-r-k-e-t- -a-n-d- -C-a-p-i-t-a-l- -M-a-r-k-e-t B-r-o-k-e-r -M-a-r-k-e-t-s- -a-n-d- -D-e-a-l-e-r- -M-a-r-k-e-t-s I-n-t-e-r-n-a-t-io-n-a-l- C-a-p-i-t-a-l- M-a-r-k-e-t- -a-n-d- - R-e-g-u-l-at-i-o-n-s- -G-o-n-e-r-n-i-n-g- -F-i-n-a-n-c-i-a-l- -M-a-r-k-e-t-s
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M-a-k-e- -a- -u-n-d-e-r-s-t-a-n-d-i-n-g- -o-f- -a-l-l- -t-h-e- -t-o-p-i-c- -m-e-n-t-i-o-n-s- -b-e-l-o-w-,- -i-t- -s-h-o-u-l-d- -b-e- -u-p-d-a-t-e-d- -w-i-t-h- -T-R-A-I-N- -L-A-W- -A-N-D- -C-R-E-A-T-E- -L-A-W- -a-m-e-n-d-e-d-.- -N-o-t-e-:- -t--h-i-s- -i-s- -b-a-s-e- -o-n- -P-h-i-l-i-p-p-i-n-e- -I-n-c-o-m-e- -T-a-x-a-t-i-o-n- I-N-C-O-M-E- -T-A-X- -O-F- -C-O-R-P-O-R-A-T-I-O-N-S: C-o-n-c-e-p-t- -o-f- -C-o-r-p-o-r-a-t-i-o-n-s- C-l-a-s-s-i-f-i-c-a-t-i-o-n- -o-f- -C-o-r-p-o-r-a-t-e- -T-a-x-p-a-y-e-r-s- D-o-m-e-s-t-i-c- -c-o-r-p-o-r-a-t-i-o-n- F-o-r-e-i-g-n- -c-o-r-p-o-r-a-t-i-o-n-s- T-a-x---E-x-e-m-p-t- -C-o-r-p-o-r-a-t-i-o-n-s I-n-c-o-m-e- -T-a-x-e-s- -o-f- -C-o-r-p-o-r-a-t-i-o-n-s- T-h-e- -N-o-r-m-a-l- -C-o-r-p-o-r-a-t-e- -I-n-c-o-m-e- -T-a-x- M-i-n-i-m-u-m- -C-o-r-p-o-r-a-t-e- -I-n-c-o-m-e- -T-a-x- -(-M-C-I-T-)- C-a-p-i-t-a-l- -G-a-i-n-s- -T-a-x- P-a-s-s-i-v-e- -I-n-c-o-m-e- -T-a-x- S-p-e-c-i-a-l- -C-o-r-p-o-r-a-t-i-o-n-s-
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M-a-k-e- -a- -d-e-t-a-i-l-e-d- -s-o-l-u-t-i-o-n- -a-n-d- -e-x-p-l-a-n-a-t-i-o-n- -o-f- -h-o-w- -e-v-e-r-y- -o-f- -t-h-a-t- -a-m-o-u-n-t- -g-o-t-
R-e-a-d- -a-l-l- -t-h-e- -i-n-f-o-r-m-a-t-i-o-n- -b-e-l-o-w- -a-n-d- -p-l-e-a-s-e- -h-e-l-p- -m-e- -m-a-k-e- -a- -s-c-i-p-t- -o-f- -h-o-w- -I- -g-o-n-n-a- -p-r-e-s-e-n-t- -i-t-.- -J-u-s-t- -u-s-e- -s-i-m-p-l-e- -e-n-g-l-i-s-h- -w-o-r-d-s-.- -I- -j-u-s-t- -n-e-e-d- -t-o- -p-r-o-p-e-r-l-y- -e-x-p-l-a-i-n-e-d- -i-t-. I-t- -a-n-s-w-e-r- -t-h-e- -q-u-e-s-t-i-o-n- -o-f- -W-h-e-r-e- -d-o- -y-o-u- -p-i-c-t-u-r-e- -t-h-e- -c-o-m-p-a-n-y- -i-n- -t-h-r-e-e- -y-e-a-r-s-,- -a-s-s-u-m-i-n-g- -t-h-e- -c-u-r-r-e-n-t- -t-r-a-j-e-c-t-o-r-y- -c-o-n-t-i-n-u-e-s-?- A-s-s-e-t-s-: Have continuously increased throughout the years, demonstrating the growth of its businesses and the solidity of its balance sheet. In 2020, the assets were at 100%. In 2021, the assets increased to 108.45% of the base. In 2022, the assets further increased to 135.05% of the base. T-h-i-s- -i-n-d-i-c-a-t-e-s- -a-n- -i-n-c-r-e-a-s-i-n-g- -t-r-e-n-d- -i-n- -t-h-e- -a-s-s-e-t-s- -o-f- -M-e-t-r-o- -B-a-n-k- -o-v-e-r- -t-h-e-…
R-e-a-d- -a-l-l- -t-h-e- -i-n-f-o-r-m-a-t-i-o-n- -b-e-l-o-w- -a-n-d- -p-l-e-a-s-e- -h-e-l-p- -m-e- -m-a-k-e- -a- -s-c-i-p-t- -o-f- -h-o-w- -I- -g-o-n-n-a- -p-r-e-s-e-n-t- -i-t-.- -J-u-s-t- -u-s-e- -s-i-m-p-l-e- -e-n-g-l-i-s-h- -w-o-r-d-s-.- -I- -j-u-s-t- -n-e-e-d- -t-o- -p-r-o-p-e-r-l-y- -e-x-p-l-a-i-n-e-d- -i-t-. I-t- -a-n-s-w-e-r- -t-h-e- -q-u-e-s-t-i-o-n- -o-f- -W-h-e-r-e- -d-o- -y-o-u- -p-i-c-t-u-r-e- -t-h-e- -c-o-m-p-a-n-y- -i-n- -t-h-r-e-e- -y-e-a-r-s-,- -a-s-s-u-m-i-n-g- -t-h-e- -c-u-r-r-e-n-t- -t-r-a-j-e-c-t-o-r-y- -c-o-n-t-i-n-u-e-s-?- F-O-R-E-C-A-S-T- 2022: Interest income on loans and receivables: Approximately P25,000,000 Total operating income: Projected to increase gradually Total operating expenses: Estimated to increase, requiring effective cost management Net income: Projected to increase but subject to changes in revenue and expenses 2023-2025: Interest income on loans and receivables: Expected to show gradual growth Total operating income: Forecasted to…
D-e-s-c-r-i-b-e- -t-h-e- -f-r-e-e- -c-a-s-h- -f-l-o-w- -v-a-l-u-a-t-i-o-n- -m-o--d-e-l- -a-n-d- -e-x-p-l-a-i-n- -h-o-w- -i-t-- d-i-f-f-e-r-s- -f-r-o-m- -t-h--e -d-i-v-i-d-e-n-d- -v-a-l-u-a-t-i-o-n- -m-o-d-e-l-s--. -W--h-a-t- -i-s- --t-h-e- -a-p-p-e--a-l- -o-f- -t-h-i-s- -m-o-d-e-l-? M-a-k-e- -a- -r-e-f-l-e-c-i-v-e- -j-o-u-r-n-a-l- -a-b-o-u-t- -t-h-e- -t-o-p-i-c- -o-f- -m-a-n-a-g-i-n-g- -c-r-e-d-i-t- -c-a-r-d-s-,- -a-n-d- -m-a-n-a-g-i-n-g- -i-n-s-u-r-a-n-c-e- -n-e-e-d- -(-l-i-f-e-,- -h-e-a-l-t-h- -a-n-d- -p-r-o-p-e-r-t-y-)