Which of the following compensation will be subject to graduated rates?
Q: Use the cash flow statement provided below to comment c the company's cash flows provided (used) by ...
A: The cash flow statement shows inflows of cash/ outflows of cash, on account of operating activities,...
Q: $10,000 $12,000 Service Revenue Cash Accounts Receivable $3,000 Office Supplies Rent Expense Salarie...
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net...
Q: An adverse labour efficiency variance together with a favourable labour rate variance could suggest ...
A: Labour Efficiency Variance = Labour efficiency relates to the hours worked. If hours worked are mor...
Q: lease help solve ste
A: Direct material are those material that are consumed during manufacturing process and directly ident...
Q: 11 Apple and Green started a business as a partnership on January 1 200A. Apple contributed P 36.000...
A: In this question, we will make statement of partner's Equity for both years.
Q: ABC Juice Limited manufactures and sells juice locally in Trinidad and in the Caribbean. The busines...
A: Value-added tax: Value-added tax or VAT refers to the indirect tax which is levied on the consumptio...
Q: The second year (2021) of depreciation on a computer that cost $5,000 purchased in May 2020, using t...
A: The modified accelerated cost recovery system (MACRS) allows a business to recover the cost basis of...
Q: Sheffield Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning De...
A: PV table for 9% Period Discount Rate @9% 0 1.0000 1 0.9174 2 0.8417 3 0.7722 4 0....
Q: On January 1, 2020, Soledad Company purchased 10% bonds with face amount of P3,000,000. The bonds ma...
A: Profit or loss on reclassification is the difference between the revised carrying value and amortiz...
Q: X derived the following income in 2020, choose A if the income is subject to regular income tax, B i...
A: Capital Gain on the Sale of stocks directly to Buyer : p 30000 Ordinary gain on sale of old of...
Q: *see attached What is the total unearned interest income? a. 3,052,705 b. 2,652,705 c. 2,252,705 d...
A: Lease means giving out the assets by lessor to lessee to use that assets in return of rent. Financia...
Q: Given the building layout for Store A, Store B, Store C, and Store D, what portion of the shared $75...
A: when the a person meant of cost is done then the distribution of cost items in proportion to the cos...
Q: insurance company pays its employees a commission of 6 percent on each sale. What is the proper clas...
A: Solution: As commission is 6% of sales, therefore cost of sales commision will vary with increase or...
Q: BE5-3 Prepare the journal entries to record the following transactions on Graff Com- pany's books us...
A: Under perpetual inventory system, Cost is transferred to COGS account as and when sale is recorded.
Q: A 12% P1,000,000 face value bond with interest payable June 30 and December 31, which matures on Jun...
A: Total cash received by June 30, 2022 = Redemption value of the bonds + Semi-annual interest on the b...
Q: The Board of Directors were worried over the dwindling financial performance and precarious financi...
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or str...
Q: Blossom Leasing Company agrees to lease equipment to Blue Corporation on January 1, 2020. The follow...
A: Calculation of Lease Liability :- Lease Liability = Cost of machinery + Residual Value Guaranteed - ...
Q: Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods.
A:
Q: The company reports the following balances: Other Revenue $180,000 General and Administrative Expens...
A: Dividends paid do not affect the net income as the dividends are paid after the computation of the n...
Q: What is the process for developing a budgeted balance sheet?
A: The budgeted balance sheet is a report that a firm uses to examine the estimation of assets, liabili...
Q: Citricacid plc budgets during its first year of operations to produce and sell 38,160 litres of prod...
A: Total Units Produced = 38400 + 960 = 39360 units Total Budgeted Variable Cost of Production = 3.54*3...
Q: QUESTION 4 The difference between debt and equity in an entity's statement of Financial position is ...
A: Equity holders are owners of the company and dividend is paid to them. They are to be repaid only at...
Q: . How much money would have to be raised to put a new plant costing $ 250972, if a fund reserve was ...
A: Sum of years depreciation is a method of depreciation amount which is charged on the asset during th...
Q: Un Deux Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 3...
A: Preference shares are the class of shares who are given priority over common shares with respect to ...
Q: On January 1, 2021, Mirakulo Company acquired P4,000,000 of 12% face amount bonds for P3,767,000 to ...
A: Carrying amount of the bond = Present value of principal + Present value of interest payments where,...
Q: The company provides for an allowance for bad debts equivalent to 3% of total receivables. Receivabl...
A: Provision of bad debts not allowed for taxation purpose. Following is the condition of bed debts al...
Q: . Slip Heel Ltd manufactures two types of shoes in its factory. A typical monthly budget is as foll...
A: In this question, we have to compute the monthly cost of operative wages in the factory.
Q: "The valuation of real estate is based on a cobination of facts, assumptions and judgement" critical...
A: Investment Valuation is a method which has been adopted by the company or the investor to value the ...
Q: The following cost details relate to one unit of product Alphatron. Variable materials Variable labo...
A: The ending inventory is the inventory left in stock that are not sold yet at year end.
Q: Finished goods inventory, beginning Finished goods inventory, ending Depreciation, factory Administr...
A: Cost of goods manufactured: The cost of goods manufactured is the cost incurred by the company in ...
Q: 7. Toews Ltd has prepared the following flexible budget for the coming year. The Budgeted level of a...
A: The variable cost changes with level of production but fixed cost remains constant at every level of...
Q: Suppose Columbia Sportswear Company (USA) had accounts receivable of $205.025,000 at the beginning o...
A: Cash Receipts from Customers - It is the calculation from the previous years receivables and current...
Q: Nancy and Betty enter into a partnership agreement whereby they undertake to share profits according...
A: Solution Partnership is an agreement between two or more persons who agreed to share profit and carr...
Q: In 2010 Casey made a taxable gift of $5.7 million to both Stephanie and Linda (a total of $11.4 mill...
A: Introduction Gift tax is tax on transfer of property by one individual to anther without considerat...
Q: On May 1, 2016, Bench Co. issued 11% bonds in the face amount of P 1,000,000 that mature on May 1, 2...
A: Solution: Face amount of bond= P1,000,000 Premium on issue of bond = P62,000 Issue price of bond = P...
Q: Suppose Columbia Sportswear Company (USA) had accounts receivable of $205,025,000 at the beginning o...
A: whenever good is sold to the customer on credit then whatever will be received from the customer in ...
Q: 1) A corporation may choose to use debt financing because a) it has an income tax advantage. b) it...
A: In case of multiple questions, we are allowed to solve only the first question. In case if you want ...
Q: Jefferson Inc. has the following information for the month of September. The company applies OH cost...
A: Solution... Actual manufacturing overhead costs = Variable overhead + fixed overhead = $2,320 ...
Q: own individual lightsaber that they special order to fit their needs. Skywalke based off direct labo...
A: Predetermined overhead rate: Divide the predicted (budgeted) overhead costs for the year by the esti...
Q: r each transaction in the books of anuary, 20-.
A: Given: $75.00; cash sales slip no. 4923.$120.00; cash sales slip no. 4924.$58.60; invoice 7822$98.00...
Q: Ben Company has the following sales forecast for the next quarter: April, 20,000 units; May, 24,000 ...
A: Information given in the above question is as follows: Sale forecast for the next quarter are given ...
Q: 12. Which TWO of the following would be regarded as cost objects
A: Cost object is item for which cost is comploed. Following is the cost objects.
Q: A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $950,000. ...
A: Introduction:- The following formula used to calculate straight line method of depreciation as follo...
Q: Please solve it ASAP with all requirements Q.7. Toews Ltd has prepared the following flexible budget...
A: A planned cost is a prediction of what a company will spend in the future. To put it another way, it...
Q: Problem 10-1 On January 1, 2019 Crampton Company acquired land on which to construct a new distribut...
A: PPE ie. Property, Plant, and equipment is the name changed for assets by IFRS 16. As per this IFRS a...
Q: Required: 1-a. Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing m...
A: Under FIFO Method, units which comes in first will be sold first and the inventory will be out of th...
Q: A supervisory employee is a recipient of a stock option which vested during the year. The following ...
A: ESOP Is employee benefits plan that gives worker and employees ownership in the company. Generally E...
Q: Barker Inc. uses the weighted-average method in its process costing system. The following data conce...
A: a)Equivalent units of material Particulars actual units Equivalent units Units completed and t...
Q: Which TWO of the following would be regarded as cost objects? a) A branch of a high street chemists ...
A: The cost object is used to assigned overhead to manufacturing process.
Q: A company accounts for possible bad debts using the allowance method. When an actual bad debt occurs...
A: Introduction:- A company accounts for possible bad debts using the allowance method. When an actual ...
Step by step
Solved in 2 steps
- A managerial employee has the following benefits: 13th month pay and other benefits - P50,000; De minimis within their limits - P30,000; Excess de minimis benefits P6,000; Other fringe benefits - P35,000; Compute the fringe benefit tax.In 2020, Schedule 1 of Form 1040 is used to report: a.Salary income. b.Unemployment compensation. c.Capital gains and losses. d.Withholding on wages.According to PAS 19, short-term employee benefits are recognized a. at each year-end b. at each month-end c. on a semi-monthly basis d. when an employee has rendered service in exchange for those benefits.
- The wage base for unemployment compensation taxes are: a. all wages paid but not including those that have been set aside for the employee to draw upon at his/her discretion. b. all wages actually paid or constructively paid. c. all wages paid or payable for the period. d. all wages that are considered to be constructively paid plus wages payable.An employee receives the following compensation and benefits during the year while working:Annual Basic Salary Php 245,000.0013th Month Pay Php 20,416.67Company Bonuses Php 5,500.00Rice Subsidy Php 1,800.00/yearClothing Allowance Php 5,000.00/yearMedical benefits Php 9,500.00/yearLaundry allowance Php 2,400.00/year Present the computation of the taxable and non-taxable compensation income of the employee.AJ, a rank-and-file employee received the following compensation and benefits received during 2021: Basic compensation income 540,000; 13th month pay 45,000; Mid-year bonus 22,500; Christmas gift 10,000; Uniform allowance 7,500; Actual medical allowance 15,000; Medical allowance to dependents 2,000; Rice subsidy 18,000; Monetized vacation leave for 12 days (2,000/day) 24,000. Determine the employee's taxable net income.
- The manager of X Corp has the following benefits: 13th month pay and other benefits - P100,000; De minimis within their limits - P30,000; Excess de minimis benefits P7,500; Other fringe benefits - P30,000. Compute the fringe benefit tax. Compute the amount of fringe benefits actually received by the employee subject to fringe benefit tax.A managerial employee has the following benefits: 13th month pay and other benefits - P50,000; De minimis within their limits - P30,000; Excess de minimis benefits P6,000; Other fringe benefits - P35,000; Compute the fringe benefit tax- P63,076 P14,350 P22,076 P18,846 Compute the grossed-up monetary value of the fringe benefits P63,076 P41,000 P53,846 P9,230 Compute the amount of fringe benefits actually received by the employee subject to fringe benefit tax P63,076 P41,000 P53,846 P9,230In the case where an employer is delinquent in paying contributions to the state for SUTA: a. experience ratings may be decreased. b. their employees may not be eligible to collect unemployment benefits. c. the employer may be required to contribute monthly rather than quarterly. d. a 100% penalty may be imposed.
- From an employee perspective, how would you handle salary negotiations where you are offered options with a 4 year vesting period and a 2 year cliff?The employees are entitled to 10 days holiday leave per calendar year. Unused holiday leave may be carried forward until the employee leaves the employment of the entity, at which time the entity will pay the employee for all unused holiday leave. The holiday leave is. a termination benefit a postemployment benefit a short-term employee benefit other long-term employee benefitH, a minimum-wage worker, got the following in 2018: a basic income of P 140,000, a 20,000-peso overtime bonus, a 10,000-peso night shift difference, and a 100,000-peso 13-month compensation. Z's taxable net profit is.