[thirteenth item] true or false Instructions: Write “true" if the statement is true and “false" ifotherwise.13. $For$ $a$ $corporation$, $a$ $fraction$ $of P 5,000 of$Sassessed$ $value$ $of$ $a$ $real$ $property$ $or$ $gross$ $receipts$$from$ $business$, $is$ $not$ $subject$ $to$ $tax$.

Tax refers to the amount charged by the government from the individual and organizations on the…

Instructions: Write “true" if the statement is true and "false" if otherwise. 13. $For$ $a$ $corporationS, Sa$ $fraction$ $ofP 5,000 ofs Sassessed$ $value$ $of$ $a$ $real$ $property$ $or$ $gross$ $receipts $from$ $business$, Sis$ $not$ $subject$ $to$ $tax$.

Instructions: Write “true" if the statement is true and "false" if otherwise. 13. $For$ $a$ $corporationS, Sa$ $fraction$ $ofP 5,000 ofs Sassessed$ $value$ $of$ $a$ $real$ $property$ $or$ $gross$ $receipts $from$ $business$, Sis$ $not$ $subject$ $to$ $tax$.

Financial & Managerial Accounting

14th Edition

ISBN:9781337119207

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

Problem 1.20EX: Missing amounts from balance sheet and income statement data One item is omitted in each of the...

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Question 1: Please tell me what type of account, if it's a Real or Nominal, and if it's a DR or CR1) Accounts Payable2) Service fees avenue3) Tax expense4) Cash5) Interest Receivable6) Accounts Receivable7) Smith, Drawings8) Retained Earnings9) Depreciation Expense10) Interest IncomeQuestion 2: Are the following accounts Assets, Liabilities, or Equity?1) Accounts Receivable2) Smith, Capital3) Wages Payable4) Cash5) Inventory6) Taxes Payable7) Additional Paid-in-Capital8) Retained Earnings9)Buildings10)LandQuestion 3: For each please provide type of account as either Asset, Liability, Equity. Also if they are Real or Nominal1) Inventory2) Bonds Payable3) Common Stock4) Prepaid Insurance5) Sales6) Cost of Goods Sold7) Supplies Expense8) Supplies on hand9) Wages payable10) Mortgage Payable
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