Ne In Net Acc Francis Co 720,000 a and owne
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A: Formula: Total liabilities = Current liabilities + Non current liabilities
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A: Formula for sales difference; Difference in Sales=2018 Sales-2017 Sales
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A: Entries in trial balance helps in preparing financial Statements.
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A: Owner's equity refers to the rights of the owners within the assets of the business. Owner's equity…
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A: ROA = Net income / total assets
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A: Formula: Net pay = Total earnings - Deductions
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A: Assets = Owner's equity + liabilities
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A: Owner’s equity is the difference between the Total assets and total liabilities.
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A: There are mainly two methods of finding Income from Operation: Direct Method Indirect Method
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Q: Bal. Bal. Net Sales 16880.6 16,880.6 Bal. Bal. Retained Earnings 10797.1 12,117.8 3136.6 16,880.6…
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Q: e compan
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A: Given:
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A: EBIDTA stands for Earnings before Interest, Depreciation, Tax expense and Amortization. Formula:…
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- For income tax purposes, what is the amount of gross income given the following amounts? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Group of answer choices P3,900,000.00 P1,600,000.00 P2,400,000.00 P1,700,000.00For income tax purposes, what is the amount of gross income given the following amounts? Gross sales 4,000,000.00 Sales discounts, returns and allowances 100,000.00 Cost of sales 1,500,000.00 Itemized deductions 800,000.00 Given the amount, how much is the minimum corporate income tax? Group of answer choices P78,000.00 P34,000.00 P32,000.00 P48,000.00Simple Accounting - Property Tax. Market Value Tax Policy Rate Property Tax $1,370,980.00 50.75% 4.39571 a. $3,058,413.48 O b. $29,680.17 O c. $30,584.13 d. $60,264.30
- WhyRU Company usually depreciates its equipment using straight line method for accounting purposes, but for tax purposes its sum-of-the-years method. WhyRU Company acquired the equipment through purchase amounting to P2,400,000 on January 1,2018. Assume a tax rate of 30%. Useful life is 4 years. WhyRU Company made the following income in its income tax return available through reports for 2018 – P800,000; 2019 – P890,0000; 2020 – P1,200,000; 2021 – P1,500,000 There is no other differences between WhyRU's accounting income and taxable income for years 2018, 2019, 2020 and 2021 other than for the difference in depreciation for the equipment described.What is the corrected net income before tax for the current year? A. 4,450,000B. 5,000,000C. 5,150,000D. 5,700,000NOPAT 8250000 EBITDA 17725000 Net Income 5050000 Capital Expenditures 6820000 After tax capital costs 6820000 Tax rate 40%Calculate the interest expense and EVA
- How much of the following is gross income subject to income tax? P2,410,000 P2,210,000 P2,160,000 P1,710,000 P450,000Lourse Hero FFacebook AlpQLSemRocZTySC1Qmxn3WNrCDDNEqZOcNLOvBFeteSg98lhAYbXw/formResponse The following income relates to a proprietorship registered as a BMBE: Gross income from sales P400,000 Dividend income – domestic corporation 9,000 Interest on bank deposits 6,800 Compute the total exclusion from gross income. O 415,800 O 400,000 O 15,800 O ZeroINCOME STATEMENT Year ended June 30 2022 2021 $'000 $'000Revenue 22450 18675Cost of sales 8475 8055Gross Profit 13975 10620Distribution costs 4245 3120Administrative expenses 1276 2134Selling expenses…
- 38. What is the total tax expense? A. P750,000 B. P600,000 C. P2,550,000 D. P300,000A Non-VAT business reported the following:Sales P2,500,000Cost of Sales P1,000,000Purchases, inclusive of VAT P560,000How much is the amount of business tax payable?7. What amount of current income tax liability should be reported at year end? ₱ 2,880,000 ₱ 2,280,000 ₱ 1,780,000 ₱ 2,580,000 8. How much is the total income tax expense for the year? ₱ 3,120,000 ₱ 2,100,000 ₱ 3,300,000 ₱ 2,280,000