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Question - Cherry Cosmetics is a cosmetic company and has provided the following fringe benefits to its employees during the year ended 31 March 2019:
Entertainment food and drinks $13,200 (including GST).
A statutory interest amount of $10,000 on free loans provided to employees.
Required -
i. Identify the benefits as Type 1 or Type 2.
ii. Calculate Cherry's FBT liability for the 2019 FBT year (show your workings).
According to the U.S. Centers for Disease Control and Prevention, Americans 85 years of age and older experience flu-associated respiratory and circulatory illness at an annual rate of approximately 1200 cases per 100,000 persons.
Suppose that if the carburetors were purchased, Troy Engines, Ltd., could use the freed capacity to launch a new product.
Journalize the subsequent transactions in the books of Mr. Walter - Paid fire insurance of the above building in advance $ 1,000.
Calculate the retained earnings balance in the adjusted trial balance. Net income for the period was $8,000, dividends declared were $2,000
On January 1, 2011, Riney Co. owned 80% of the common stock of Garvin Co. What is the balance in Investment in Garvin Co.
Payment on application - $0.50 per share. Would the accountant be dealing with a receivable (asset) or payable (liability) when finalising the forfeiture
Provide an example that shows variable costing is divided among different activities, and that each activity has its own predetermined variable overhead
Use this information to prepare the General Journal entries (without explanation) for the July 15 sales & the July 21 collections
Determine the unrealized profit in Salt's inventory at December 31, 2004. Compute Petrel's income from Salt for 2005.
Determine the total cost of borrowing over the life of the bond. What amount of interest expense is reported for 2018
Question - EPS with Convertible Bonds. On June 1, 2012, Bluhm Company and Amanar Company merged to form Davenport Inc
Finished goods at year end amounted to 20% goods manufactured. What is is the amount of direct labor cost incurred? PhilCPA Adapted
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