What form of business pays personal income tax?

Q: shares of ordinary share capital. Subsequently, 250,000 shares were issued at P25 per The Security C...

A: Share capital is the capital raised by the issue of shares. it is the amount invested by the shareho...

Q: Using the information below from Planters, Inc., what is the cost per un under both variable and abs...

A: Using absorption costing, the product cost comprises of fixed and variable cost. Using variable cost...

Q: losing entries prepare the general ledger for use during the next accounting period.   Select one: T...

A: Solution Concept Ledger is a book of accounting where the transaction balance are posted on debit an...

Q: Exercise 3.4 · Balance Sheet Based on the following information, prepare a balance sheet. Note: Some...

A: Financial statement means the statement including income statement , balance sheet , cash flow state...

Q: ABC Ltd enters into a five-year lease agreement with Legal Ltd on 1 July 2023 for an item of machine...

A: Amount to be paid as insurance and maintenance of the equipment shall be accounted separately and sh...

Q: eld Company

A: Answer: The correct answer is d. (i.e.$ 46,500) Workings: Total Manufacturing Cost for Job No.825 ...

Q: hich of the following accounts is a contra account?   Select one: a. Drawing b. Transportation In c....

A: Solution: A contra account is related to a main account and used in a general ledger to reduce the v...

Q: Computing Retained Earnings and Net Income The following selected balance sheet amounts are from Aer...

A: The Closing Retained earnings is the balancing figure for this balance sheet. 

Q: A. On January 1, 2021, Bradley Company issued $100,000, 9%, 4-year bonds. Interest is paid sem...

A:

Q: AB Company had 11,000, par P20 shares issued and outstanding on January 1, 2021. On March 15, the en...

A: A Stock Split takes place  when the Companies want their shares to be more tradeable as well as affo...

Q: Record the purchase on account of $500 of office supplies and $5,400 of merchandise for resale in th...

A: Office supplies. Dr.        $500       To Cash.                                       $500  

Q: a) Calculate the contribution margin per unit. b) Calculate the number of units Beauty Supplies Comp...

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Q: • Fair value of the asset: $400,000. • Useful life of the asset: 6 years with no salvage value. • Le...

A: Introduction:- Leasing is an agreement between parties in which the right to use the asset is trans...

Q: COCO Inc. has a credit agreement which is revolving fund with its bank under which it can borrow up ...

A: THe question is based on the concept of the Financial Management.

Q: E13-2 Accounting for partner investments [10 min] Nan Ferdinand has been operating a student apartme...

A: GIVEN   Cash 6000 Accounts receivable 13000  Office Furniture 15000 Building 51000 Loan Payable  220...

Q: When net profit margin is low, must be high in order to achieve on acceptable return on assets.*

A: In accounting we know that ROA = net income/total assets

Q: ys operated it as a C corporation. However, at the beginning of this year, Connor made a qualifyin o...

A: b. It is required to compute the amount and nature gain that C would recognize if he received $60,00...

Q: The qualitative characteristics of relevance, reliability and comparability identified in the IASB’s...

A: financial statement should have sufficient information in relation to quality and quantity so as to ...

Q: 2. Mala-Inse Company needs P5,000,000 short-term credit for 90 days. To produce the amount, the comp...

A: The fees and other expenses spent by the Corporation when borrowing funds are referred to as financi...

Q: Current accounting standards require that the discount rate used for pension plans be:   Multiple ...

A: As per IAS 19 discount rate used for pension plans be considered as following 

Q: Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than $150 for a comfor...

A: Price = Cost + Markup where, Markup = Cost x Markup %

Q: The following information is collected for Hilarious Ltd, a listed company in ...

A: Current Share Price: The current price of a stock that is traded on a stock exchange is the most rec...

Q: a) Prepare the entries in a journal and then post to the T accounts. b) Total the T accounts and pre...

A: As per our protocol we provide solution to the first three sub-parts only but you have asked multipl...

Q: How much is overstatement(understatement) of the retained earnings by the end of 2019? (if UNDER, pu...

A: Intangible Assets Intangible assets is considered to be one of the important part in the non current...

Q: Anita and Duncan had been partners for many years in a mercantile business. Their relationship deter...

A: After many years of mercantile partnership, AN and DN's relationship deteriorated, leading to the fi...

Q: The stockholders’ equity of Cyclone Corporation at January 1 follows: 6 Percent preferred stock, $1...

A: Requirement a.General journal Date Description ...

Q: 3. Consider the following two statements concerning share issues: Statement (1): Retained profits a...

A: Retained earnings is the profit retained in the company after paying dividend to its shareholders. I...

Q: This ratio is used to reflect t profit earning performance firm's assets return on assets net profit...

A: Solution: Profit earnings performance of the company's assets means that how much of the company's a...

Q: On January 1, 2019, Israel Corp. has equipment having a useful life of 10 years with the following  ...

A: The amount by which an asset's carrying value exceeds its recoverable value is known as an impairmen...

Q: Fields Finance Ltd. (FFL), a leasing company that reports under ASPE, is in the process of preparing...

A: (A) To be classified as capital lease any one of below conditions should be met : transfer of owner...

Q: Presented below is selected data from the financial statements of Vert, Inc. for the current and pri...

A: Vertical analysis: It is a method of analyzing the financial statement in which each item is shown a...

Q: Accounting Quake Corporation paid $1,680,000 for a 30% interest in Tremor Corporation's outstanding ...

A: A business combination is a transaction or agreement in which the acquirer obtains a stake in the ac...

Q: Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry |(a) cash ...

A: All 11 transactions denoted by their sequence no.s are explained in Step 2 that in which Cash Flow t...

Q: Win Corporation is considering replacing a machine with a book value of P400,000, a remaining useful...

A: The net investment required to replace the existing machine will be difference of value of new machi...

Q: Estrada V. Escritor sells on terms 3/10, net 30. Total sales for the year are ₱2,539,130.  Forty per...

A: The average amount of receivable can be calculated by multiplying the average receivable per day by ...

Q: Jaguar Plastics Company has been operating for three years. At December 31 of last year, the account...

A: 1. Balance Sheet - This Statement shows the balance of assets liabilities and Equity as at the balan...

Q: GRADED: Recording transactions in t-accounts THE SMITH COMPANY Using the business transactions below...

A: A t-account is a log or list of accounts that keeps track of account transfers

Q: COMPLETE THE FOLLOWING JOURNAL ENTERIES FOR SAFETY HOSPITAL FOR 2021   a.      January 31 -  Purch...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: A bond is sold at $98 of its face value ($100). Therefore, the bonds are: A) Sold at a discount beca...

A: The Bonds are source of financing which can be issued at discount or par or at premium. When Issue p...

Q: prepare a cost of goods manufactured statement and an income statement.

A: Statement of cost of goods manufactured used to compute cost finished goods manufactured  

Q: Complete the following table (assume the overtime for each employee is a time-and-a-half rate after ...

A: Solution: Total time worked in the week = 12 + 8 + 10 + 8 + 6 + 3 = 47 hours Regular time = 40 hours...

Q: After the closing entries have been posted, all temporary accounts should have ____.   Select one: a...

A: Answer) The correct answer in the given question is (B) a Zero balance.   Justification Temporary a...

Q: Question #7: FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item we...

A: Lets understand the basics. In FIFO basis, company assumes that goods comes first in the inventory i...

Q: Required: Calculate the basic EPS for Pearson Ltd for the year ending 30 June 2023.

A: Earnings per shares refers to the profit earned by each shareholder after paying all the expenses of...

Q: Assume markup is based on cost. Find the dollar markup and selling price for the following problem. ...

A: Sale price means the price at which an item is sold out. It can be found out by adding markup or pro...

Q: what is inside money transfers? Please give examples of inside money transfers here in the Philippin...

A: Inside money transfers refer to the transfer of money from one account to another where the account ...

Q: Subject- Audit SUMMARIZE THE CORE ISSUES for the following topic:- • ISA 805, Special Considerations...

A: An auditor is a person with the authority to examine and verify financial documents for authenticity...

Q: A responsibility center's contribution margin ratio is 40%, and its common fixed costs are currently...

A: Increase in margin = Increase in contribution margin - Increase in fixed costs where, Increase in co...

Q: the cash interest paid is:

A: Bonds are issued by company to raise funds for running business. Bonds are issued either at par valu...

Q: Use the following information for the Exercises below. Textra produces parts for a machine manufact...

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing over...