Chapter 5, Problem 21E

The Massoud Consulting Group reported net income of $1,354,000 for its fiscal year ended December 31, 2018.In addition, during the year the company experienced a positive foreign currency translation adjustment of$240,000 and had unrealized losses on investment securities of $80,000. The company’s effective tax rate on allitems affecting comprehensive income is 30%. Each component of other comprehensive income is displayed netof tax.Required:Prepare a separate statement of comprehensive income for 2018.

From the following information, furnished by Ms. Anucampa pertaining to the financial year ended as on 31st march 2022, Short term capital gains on sale of shares in an Indian company received in Japan - 10000 Dividend from a Chinese company received in China - 3000 Agricultural income from land in Madhya Pradesh - 5000 Dividend from PJV Ltd an Indian Company- 4745 Gross Rent from a residential property located at Singapore, later on remitted to the saving account in Bank of Maharashtra, Mumbai using the approved channels - 600000   Compute the total income and give reason for considering/ not considering these specific items for the relevant assessment year 2022-23, if she is a. Resident and ordinary resident b. Non resident   1) please first tell the formula and understanding of the question 2) second what are the steps to be followed to get the answer 3) please write the answer in 3 option and what can we clarify from this option 1,2 and 3 is to be followed in A and B both

How much is the income from sources within?Gross Income from the practice of profession as CPA in the Philippines, P220,000;Rent on a building located in Makati, net of 5% withholding tax, P95,000;Rent on a commercial building located in USA, P70,000;Interest income, debtor resides in Hongkong, P10,000;Dividends from Ford Motors, a foreign company, declared in 2020 (its total worldwide income for three years is P2,000,000; income within, P1,200,000), P50,000;Royalties received from Ford Motors for use of patents in the USA, P30,000;Dividend from Walmart Corp., USA, declared in 2020 (its total worldwide income for three years is P1,800,000; its income from the Philippines is P800,000), P80,000;Gain on sale of land. The contract of sale was entered in the Philippines. The land was located in Japan, P300,000;Gain on sale of car in the Philippines. The taxpayer purchased the car directly from Toyota, which manufactured the car in Japan, P50,000;

Revenue and expense data for Searle Technologies Co. are as follows:     20Y8   20Y7   Sales   $900,000   $725,000   Cost of goods sold   558,000   435,000   Selling expenses   117,000   116,000   Administrative expenses   63,000   65,250   Income tax expense   76,500   58,000   a.  Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. Round to one decimal place. Searle Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7   20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent   $fill in the blank 9441f0095009007_2 fill in the blank 9441f0095009007_3% $fill in the blank 9441f0095009007_4 fill in the blank 9441f0095009007_5%   fill in the blank 9441f0095009007_7 fill in the blank 9441f0095009007_8% fill in the blank 9441f0095009007_9 fill in the blank 9441f0095009007_10% Gross profit $fill in the blank 9441f0095009007_11 fill in the blank…

Khan, Inc. a domestic corporation, reports $650,000 of gross income and an $80,000 expense, all related to real estate activities. Determine the expense allocation and apportionment using gross income as a basis. When required, round any division to three decimal places. Use rounded amounts in subsequent computations. ForeignGross Income U.S.Gross Income Allocation ApportionmentForeign ApportionmentU.S. Sales income $500,000 $85,000 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Rental Income 50,000 15,000 fill in the blank 4   fill in the blank 5   fill in the blank 6     $550,000 $100,000 $80,000 $fill in the blank 7 $fill in the blank 8

Here is some financial statement data for Nestlé (in millions of Swiss francs): After reviewing the information, calculate the following ratios for Nestlé for 2021:1) Inventory turnover2) Profit margin3) Return on assets4) Free cash flowRound all answers to two decimal places. Do not include dollar signs because Nestlé's accounting information is in Swiss francs. Show the calculations for each answer.