Which is not a feature of final tax? A. Covers certain passive income B. Covers all capital gains C. Withholding at source D. None of these

Q: asset value not given

A: Acquisition goodwill is the difference between the consideration paid and the fair value of the net ...

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A: Biological assets on December 31, 2021: Animals available on January 1, 2021 – animals sold during t...

Q: Part B Required 6. Prepare journal entries to record each of the following November transactions. 7....

A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit t...

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A: Introduction:- The break-even point is the moment at which a company's revenues equal its costs. The...

Q: ow much were the discounts lost? epson Company is specializing on sale of printers and related gadge...

A: Solution Concept Discount term 3/10 net 30 means that if the payment is made within 10 days of invoi...

Q: April маy June Manufacturing costs* $156,800 $195,200 $217,600 1,000 Insurance expense** Depreciatio...

A: The cash expenses are the expenses that are paid in cash during the current period. 

Q: You are assigned to prepare the financial statements of LIVA Company for the year 2021. The followin...

A: Average Cost Approach: This approach allocates a cost to inventory items based on the overall cost o...

Q: Department W had 2,940 units, one-third completed at the beginning of the period; 13,800 units were ...

A: Formula: The Total number of units to be assigned cost = Beginning units + Units completed and start...

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A: The economic order quantity (EOQ) is a quantity that a company should buy to minimize its cost of ho...

Q: Ayo Company started 2022 with P94,000 of merchandise inventory on hand. During 2022, P400,000 in mer...

A: Note: 1/15, n/45: Here, 1 represent the discount rate if payment is made within 15 days. And if paym...

Q: anti-monopoly law

A: Upon entry of a competitor in which only one company previously had access to, the lwready existing ...

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A: Highest and best use is a valuation concept that is used to value non financial assets . Highest and...

Q: Thank you, but now, the total current assets is incorrect..

A: Solution Concept In a balance sheet there are two sides assets and liabilities+ equity Balance sheet...

Q: Epon Corporation uses a process costing system based on the weighted average method. The production ...

A: Equivalent units concept is used when opening or ending work in progress is not 100% complete but pa...

Q: HANDOUT PROBLEM for CURRENT LIABILITIES I. Prepare journal entries for the following transactions wh...

A: To keep records of cash transactions, journal entries are used. To create a journal entry, you join ...

Q: Compare and contrast the built-in loss duplication rule as it relates to §351 with the built-in loss...

A: The term "complete liquidation" refers to the situation in which a company is unable to continue ope...

Q: Calculate F's basis for each asset received in the distribution.

A:

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Q: Rental Income and

A:

Q: lexible Budget for Assembly Department Cabinaire Inc. is one of the largest manufacturers of office...

A: Solution Concept Flexible budget is a budget which is prepared by adjusting the variable cost as per...

Q: Gordon Company was started on January 1, 2010 and has two temporary differences between its income t...

A: Journal entry refers to the first step in the accounting process, which signifies recording of finan...

Q: D. Information concerning Zian Company's manufacturing activities for November follows: Inventories ...

A:

Q: 1. What is the average capital of Fred ? 2. What is the average capital of Gemmo?

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Q: MHM Bank currently has $750 million in transaction deposits on its balance sheet. The current reserv...

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Q: Provide solution and explanation how work its excel   The following transactions occurred during 2...

A: Shareholder's Equity Shareholder's Equity which is comprises of both Preference and Common stock iss...

Q: How much of the following is gross income subject to income tax?

A: Answer: Calculation of gross income: Particulars   Amount Cancellation of indebtness of service...

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A: The answer is stated below:

Q: E4.3 E4.4 E4.8 E4.9 E4.13 Titles 4(10AP Werksheet data for DeSousa Cempany are presented in EA2 truc...

A: Journal entries are used to keep track of financial transactions. To create a journal entry, you ent...

Q: How do I identify and explain the classic budgeting error that Harlow apparently incorporated into h...

A: Total Cost=Direct material+Direct labor+Variable Overhead+Fixed Overhead

Q: Jones Corporation borrowed P80,000 from Brown Corporation on Jan 1,1993 and P12,000 on Jan 1, 1995. ...

A: The answer is stated below:

Q: To eliminated the deficit, ABC should reduce the ordinary share capital by

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Q: Several items are omitted from the income statement and cost of goods manufactured statement data fo...

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Q: Zephyr sales company has sales of 1.125 million. If the company's management expects sales to grow 6...

A: Lets understand the basics. For answering this question we are required to use below formula. = (100...

Q: P21.6 (LO 2, 3) (Lessee-Lessor Entries, Lease with a Guaranteed Residual Value) Glaus Leasing AG agr...

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Q: 4. A company had supplies worth P15,000 in its unadjusted trial balance at the end of the year which...

A: Adjusting entries are prepared by management to ensure the accrual basis accounting system. It is pr...

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Q: On January 1, 2022. TGIG sold equipment with historical cost of P10,000,000 and accumulated deprecia...

A: Carrying amount of the Note = Present value of the annual instalments where, Present value of the an...

Q: 16 Hurawalhi Company uses machine-hours (MHs) to allocate their manufacturing overhead (MOH) cost wi...

A: Solution Formula used Plant wide overhead rate   is denoted by (POHR) POHR using traditional method ...

Q: retained earnings statement, a balance statement, a comprehensive income statement and calculate the...

A: Note: Preparation of balance sheet requires the trial balance or previous year balances and their ad...

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Q: April Manufacturing costs* $156,800 $195,200 $217,600 May June Insurance expense** 1,000 1,000 1,000...

A: Formula Used: Manufacturing costs = Total manufacturing cost  x ( 3 / 4 belongs to current month )

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A: Capital expenditure: It implies to the purchase of capital assets or the expenditure incurred on fix...

Q: From pages 5-1 and 5-2 of the VLN, which statement is FALSE as it relates to a trade discount? Group...

A: Trade discount refers to the discount which is a deduction from the list price of the goods that are...

Q: The rate of interest actually earned by bondholders is called the Select one: O a. effective rate. O...

A: Solution Concept If the coupon rate of bond is greater than the market rate of interest , bond is pr...

Q: ABC company are involved with the following transactions for 2021 from the books of the business. Th...

A: Solution A Journal is the company's official book in which all business transaction are recorded in ...

Q: Compute for the net sales that would be reported in LIVA company's Income Statement. You are to be a...

A: Calculation of Gross Sales Gross Sales = Goods available for Sale at retail – Ending Inventory at Re...

Q: O c. callable bom O d. debenture E

A:

Q: Good Manufacturing Company applies manufacturing overhead at the rate of 150% of direct labor hour. ...

A: Manufacturing overhead is the cost that is associated with making the product. Generally, these are ...

Q: 825.000 1.050 000 1.400 000

A: In the lower of cost and net realizable value which can be treated in the inventory price fluctuatio...

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.