final tax and income tax

Q: Last month, Laredo Company sold 450 units for $25 each. During the month, fixed costs were $2,520…

A: Lets understand the basics. Break even point is a point at which no profit no loss condition arise.…

Q: Advise on what you consider would be the appropriate       business structure, and why, for Peter…

A: The answer for the practical question on advising Peter and Melina an appropriate business structure…

Q: Consider the following transactions that take place in 2021. A rancher in Alberta takes $100 worth…

A: GDP is a common indicator of the cost added created by a country's output of goods and services over…

Q: Choose the appropriate letter to match the term and the definition.   Question 2 options:   Income…

A: The balance sheet shows the financial position that includes the assets, liabilities, and…

Q: Cash. Accounts Receivable Inventory Land. Buildings and Equipment.. Less: Accumulated Depreciation.…

A: Given that, Accounts payable of ; Baby corporation = 75,000  Mommy enterprises = 55,000  Common…

Q: Cblue Company owned 900,000 shares of Flight Company. On December 31, 2004, when the investment had…

A: The share means the smallest unit of the company's ownership. The shares are issued by the company…

Q: Journalize the following transaction: Mining corporation is authorized to issue 50,000 shares of…

A: A journal entry is a branch of accounting entry used to document a commercial transactions in a…

Q: Pair Company has two products named X and Y. The firm had the following master budget for the year…

A: Contribution margin is similar to the gross margin in that the calculation subtracts sales from…

Q: Statement 1: Upon expiry or lapse of stock rights, a necessary Journal Entry is required to…

A: Here discuss about the details Shares and stock right issue and dividend distribution and its…

Q: The following statement of financial position account balances for the partnership of Pierce.…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Ablue Company had 50,000 shares of P100 par authorized. During 2004, first year of operations, the…

A: The contributed capital includes the total capital value from the issuance of common stock and…

Q: Please solve in a quarter of an hour please If the independent costs of each product The Special…

A: Independent cost is the  cost which is prepare by an organization independently as the sponsor of…

Q: Compute the net profit if, Service Revenue OMR 110,000; Other income OMR12,000; salary Expenses OMR…

A: Theory concept: Net profit: Net profit is a income statement item. In income statement all the items…

Q: The following information is available for Grace Company for 2020:  Disbursements for purchases…

A: Every business purchases goods and services for use in its business or operations. These can be cash…

Q: Response containing written narrative, figures, and charts.   Milano Co. manufactures and sells…

A: The breakeven point is the amount of production at which a product's expenses equal its revenues.…

Q: Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost…

A: Formula: Material price variance = (Actual price per micron - Standard price per micron) x Actual…

Q: Wait time Process time Inspection time Move time Queue time Hours 19.5 2.3 1.3 3.2 10.3

A: Formula used: Delivery cycle time = Wait time + Through put time

Q: Partners Bruce, Charlie, and Demi share profits and losses in the ratio of 5:3:2, respectively. At…

A: Partnership means the agreement between the two or more person to do the business together and share…

Q: On January 1, 2022, Tamarisk, Inc. purchased 1,500 shares of treasury stock. Other information…

A: Return on stockholders equity = (Net income - Preferred dividends) /Average common stockholders…

Q: You are currently the accountant of KCF Pty Ltd, a fast food company in the Karoo. The owner of KCF,…

A: It is an identifiable non-monetary item with no physical substance is known as an intangible asset.…

Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…

A: 4800 Hours are available  Minimum demand is 3000 units for Shorts and Pants  We need to find out…

Q: Compute for the Fixed Cost Rhea Company manufacture laptops, preparing the next year budget the…

A: High low method: In this method variable and fixed are segre gated by using the following formulas:…

Q: variance  iv. Direct labour efficiency variance  v. Direct labour rate variance  vi. Direct labour…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: A certain machining job for a machine shop in Davao can be done on six existing lathes, on which the…

A: The size of order will be determined by calculating the per unit cost of each given order size on…

Q: Financial Statements of a Manufacturing Firm The following events took place for Rushmore Biking…

A: The material to be used in the production during the period becomes part of work-in-process besides…

Q: Question 6, P1-1 (book/static) Part 1 of 3 Liability comparisons John Bailey invested $50,000 in The…

A: The corporation, partnership firm, and sole proprietorship are the different forms of business. Ina…

Q: P25,000 for Vicky and P18,000 for Cynthia, with the remainder divided 60% to Vicky and 40% to…

A: Partnership Net Income before giving salary       = P 68000 (-) salary to Vickey…

Q: On November 1, 20x1, ABC discounted a P1,000,000, 90-day note, received from a customer on September…

A: Introduction: Accounts payable are a company's liabilities to its suppliers or other third parties.…

Q: Account Balances Cash at Bank Accounts Receivable GST Collected Inventory as at 30 June, 2014 Motor…

A: The income statement is an essential part of the financial statements of the company. It is prepared…

Q: On January 1, 2022, Company A acquired 90% of outstanding ordinary shares of Company B at a price of…

A: The requirement is to compute the investment value under the cost method and the fair value method…

Q: Roots — Launch a new on-line customizable winter T-shirt to your summer customers.

A: A digital marketing agency is a business that offers a wide range of marketing services in one…

Q: issued 2,000 shares of preferred stock at $ 105 per share. Sep. 3 issued 80,000 share of common…

A: A journal entry is a branch of accounting entry used to document a commercial transactions in a…

Q: XYZ Corporation is authorized to issue 150,000 ordinary shares with par of P150. On June 1 eight…

A:

Q: Activity 2 Directions/Instructions: Journalize the business transactions of Coco Repair Shop and…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: Fblue acquired land with a fair value of P10,500,000 and paid for it in full by issuing P50 par…

A: The par value of shares means the value that is stated by the company at the time of the issue. The…

Q: PB16. 5.4 From the following Company S adjusted trial balance, prepare the following: A. Income…

A: Since you have posted a question with multiple sub-parts, we will do the first three sub-parts for…

Q: Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 7,100…

A: Work in process is the incomplete or semi-furnished goods. It required more material, labor, or…

Q: A scheduled payment of $5,500 due in one year is to be replaced with two payments: the first due in…

A: Time value of money shows that the money available today is worth than the money in the future.

Q: On March 1, Wayne Michaels bought 10 bonds from a particular company with a coupon rate of 9.725%.…

A: Current yield=Annual interestCurrent market price×100 Total purchase price=Price per bond×Number of…

Q: Martinez Co. borrowed $69,589 on March 1 of the current year by signing a 60-day, 6%,…

A: A journal entry is a type of accounting entry that is used to record commercial transactions in a…

Q: Lorna, Aida, and Fe decided to liquidate their partnership on August 2pm 31, 2020. They have been…

A: Non cash assets means the assets other than cash and bank balances. Any amount received more or less…

Q: Given data:             Sales  $2,000.000             OpCap  $1,120,000             Wacc 9%…

A: We can calculate the value to operation for year 0 by taking the cash flows and discounting them…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined Overhead Rate = Estimated factory overhead costs / Estimated direct labor hours =…

Q: Kroger, the country’s leading grocery-only chain, added a line of private-label organic and natural…

A: The selling price is the price at which a seller sells his offering to the customers. The selling…

Q: Why did the solvency status of Mia did not affect the cash distributed to Kia? Why no.26 & no.27…

A: Solvency refers to the company ability for meeting the financial obligations as well as the long…

Q: Brier Company, manufacturer of car seat covers, provided the following standard costs for its…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Compute the net income for the year.   24,000 11,000 37,000

A: Stockholders' Equity at January 01 = January 01 Asset — January 01 Liabilities = P240,000 —…

Q: B. In deciding a transfer pricing method, advise management on: i. negotiated transfer pricing ii.…

A: Transfer price can be defined as the price charged for  products exchanged in internal transactions…

Q: Fiona purchased 200 shares of Oxygon stock for $11 a share on August 11, 2020. On July 28, 2021, the…

A: Answer:-  Capital gain meaning:- The profit earned on the sale of an asset for example, stock, bonds…

Q: discounted payback method.

A: The payback period method is used to appraise various capital investment projects. It uses the cash…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.