fringe benefit tax

Q: A company’s share capital consists of 2,800,000 ordinary shares of 25 pence each. During its last…

A: Dividend yield is one of the ratio which is used for calculating and analysing how much dividends…

Q: LeRoy has the following capital gains and losses for the current year: Short-term capital gain…

A: Capital gain: - Capital gain is the total gain comes from the short-term capitals and long-term…

Q: 5. Which of the pairings below related to measurement focus and basis of accounting IS correct for…

A: Measurement focus is on financial resources  and correct basis of accounting is accrual.

Q: The firm's average accounts receivable balance is P2.5 million, and they are financed by a bank loan…

A: In the given question, the annual savings in interest cost will be compared with the annual cost of…

Q: Exercise F The luggage department of Sampson Company has revenues of $1,000,000; variable expenses…

A: Interest expense in accounting pertains to the cost of borrowing of a certain amount of money from a…

Q: Provide the answers to the following questions. (1) What amount of interest expense is reported for…

A: Interest expenditure refers to the cost of borrowing money. A lender will charge a borrower a fee…

Q: In looking over last year’s sales figures, Audio-2-Go’s sales budgeting team recalled…

A: Sales forecasting is the process of predicting future earnings by calculating how much service or…

Q: EX 10-9 Depreciation by two methods OBJ.2 A computer system acquired on January 1 at a cost of…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

Q: Use the information in Scenario 9.15. What is the target inventory level needed to achieve a 90%…

A: A distributor of computer monitor purchases monitor from an overseas supplier. The distributor want…

Q: B. The Art Institute of Chicago received a contribution of art from a wealthy Chicago in 2021. The…

A: Accounting policies are the set of rules or standards which a company applies for recording…

Q: Under a qualified pension plan, I. the yearly earnings on the pension plan assets are taxable income…

A: Introduction Pension plan assets are defined as the assets bought using contributions from pension…

Q: Explain in your own words the key objective of IAS36 – Impairment of assets.

A: An impaired asset is one with a market worth less than the value shown on the balance sheet. When an…

Q: A. True or False: ________ 1. Depreciation is the decline in the market value of tangible fixed…

A: Introduction:- Depreciation is a non cash expenditure. It is charged on fixed assets over estimated…

Q: Under a nonqualified pension plan, I. the yearly earnings on the pension plan assets are taxable…

A: Non qualified  Pension Plan are Non qualified because it does not comply with Employee Retirement…

Q: John's Market is assessed for $99,314. The current tax rate is 85.96 per $1426 of assessed value.…

A: Tax due:   = Tax rate × (Assessed amount ÷ Rate per Assessed Amount)

Q: Your consulting firm was recently hired to improve the performance of RP Inc, which is highly…

A: Receivable Days: Receivable Days Average Accounts Receivable / Sales     = Receivable Days…

Q: EX 11-20 Accrued product warranty OBJ. 5 Logan Manufacturing Co. warrants its products for one year.…

A: A journal entry is the act of keeping records of any transaction either economic or non economic.…

Q: Which of th

A: This is a multiple-choice question in which we have to select the correct option

Q: The net change in Total Assets as a result of the three transactions in December is: Cics to select)…

A: As we know, we follow double entry system of accounting where one journal entry effects two ledger…

Q: Damon Corporation, a sports equipment manufacturer, has a machine currently in use that was…

A: NOTE: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: Prepare the journal entries to record the exchange on the books of both companies. Assume that the…

A: Journal entries should not be used to record routine transactions such as customer billings and…

Q: nVoker-&itakeAssignmentSessionLocator=&inprogress%3Dfalse Joline operates Adventure Tours as a sole…

A: Particulars  Amount ($) Short term capital gain 5000 Short term capital loss (9000) Net Short…

Q: f money is worth 5% compounded annually, what payment 10 years from now is equivalent to a payment…

A: This is a question of compound interest Compound interest (or compounding interest) is the interest…

Q: Grouper Dairy leases its milking equipment from Monty Finance Company under the following lease…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: interest on the convertible loan is allowable for a tax relief The No conversion had taken place…

A: Earnings per Share The Calculation of earning per share is important for the business entity which…

Q: The following information pertains to Diane Company. Assume that all balance sheet amounts represent…

A: Introduction:- Return on total assets indicates earnings before interest and taxes relative to its…

Q: Question B4 The data below are taken from the financial statements of First Mobile Company: Income…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Net pay is the amount of compensation that remains available for distribution to an employee after…

Q: Accounting Sandhill Company, a machinery dealer, leased a machine to Dexter Corporation on January…

A: Lease: - A lease is an agreement between two parties i.e., a lessor and a lessee. Lessor allows…

Q: A unit of cake uses various direct materials, direct labor and indirect manufacturing costs.…

A: Budget means the expected value of future. Budget is not affected by the actual value as it is…

Q: The issued share capital of a company consists of 840,000 ordinary shares of £1 each. Half way…

A: The calculation of Weighted average number of shares which will be used in the calculation of…

Q: Requirements 1. What is Doggie's operating income for Apri? 2. What is the cost of service to goom…

A: Operating income indicated to the evaluation of income related to the core business operations of…

Q: Recognize the link between money and credit? Explain

A: Money is defined as the financial medium used to facilitate transactions between parties. Money…

Q: Danube Corporation operates a theatrical costume shop. Taxable income for the current year is…

A: The answer for the multiple choice question and relevant working are presented hereunder : Taxable…

Q: e amount of tax due to the IRS

A: A federal income tax is the total tax on annual earnings. Individuals, businesses, and other similar…

Q: ASSIMILATION You and your two friends have put up a small editorial service company. As the only…

A: Trial balance means the statement prepared from ledger account where all debit and credit balance…

Q: The following information is available about electricity costs for the first six months of the year.…

A: High low method Formula: Variable cost per unit = (Highest activity cost - Lowest activity cost) /…

Q: What is the quantity of units available for sale for the year?

A: Units available for sale is the number of units which the company is having or had available for the…

Q: You have recently been named the chief accountant for Stop Smog Now (SSN), a not-for-profit…

A: Restricted contribution is that contribution which can only be used for some restricted purposes,…

Q: Problem 1: The initial cost of a paint sand mill, including its installation is P 800,000. The…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: Jose receives a commission of 2.4% on his monthly sales up to $3,100. The rate then increases to…

A: Lets understand the basics. For calculating commission on sales, we need to use below formula.…

Q: On January 1, 2016, a company issued $400,000 of 10-year, 12% bonds. The interest is payable…

A: The expense of borrowing money is known as interest expense. It appears on the income statement as a…

Q: A Keogh plan is a type of qualified pension plan for self-employed individuals. An individual or…

A: A Keogh plan is a type of retirement plan for self employed individuals and those who work for…

Q: 6. Which of the following service contributions would enhance a nonfinancial asset? A. A roofing…

A: A nonfinancial asset is one whose value is derived from its physical characteristics. Property…

Q: Orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade…

A: A joint cost is an expense that benefits and over one product and for which the contribution to each…

Q: Using the facts from #7, please do the three journal entries from Problem #5, but now using the…

A: Note: Information for preparing journal entries is missing and therefore, we will not answer that.…

Q: On December 31, 2021, an entity has a building with cost of Rp500 million and accumulated…

A: Depreciation means the amount of expenses written off from the value of fixed assets used in…

Q: Twitter is an online news and social networking company. In its 2021 annual report, the company…

A: Here discuss about the details of valuation allowance which are created into the business entity…

Q: P8.6 (LO 3)  (Compute FIFO, LIFO, Average-Cost—Periodic and Perpetual) Ehlo Company is a multi…

A: Periodic inventory system means where day to day in or out of goods is not recorded and value of…

Q: El1.5 (LO 2) The following section is taken from Ohlman Ltd.'s. statement of financial positi…

A: Introduction:- Journal entries used to record monetary or business transactions. which plays vital…