Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question
Requirement:
Calculate income tax payable at 30 June 2020 and provide the jounral
Caluculate the deferred tax at 30 June 2020 and provide jounrals
Statement of comprehensive income for the year ended 30 June 2020
Gross profit
420 000
Expenses
Administration expenses
65
000
Entertainment expenses
35
Salaries
55
Long-service leave expense
10
Doubtful debt expense
Warranty expenses
20
Depreciation expense-plant
75
Insurance expense
280 000
Profit before tax
140 000
Statement of financial position as at 30 June 2020
Assets
Cash
70
Inventory
80
Accounts receivable
110
Less: Allowance for doubtful debts
100
Prepaid insurance
4
Plant-cost
250
less Accumulated depreciation
175
Total assets
429
Liabilities
Accounts payable
50
Provision for warranty expenses
15
Loan payable
154
Provision for long service leave expenses
Total liabilities
229
Net assets
200
Other information
• There are no accruals or prepayments of administration and salaries expenses at year end.
• Long-service leave have not been paid to any employee.
• Warranty expenses were accrued according to company policy and payments of $5 000 were made by 30 June 2020.
• Insurance was initially prepaid to the amount of $14 000.
• The tax depreciation for the plant is $50 000.
• The tax rate is 30 per cent.
Consider non-dividend-paying stock whose current price S(0) = S is $40. Construct three-period binomial lattice tree to calculate stock price after three months
The Heuser Company's currently outstanding bonds have a 9% coupon and a 13% yield to maturity. what is Heuser's after-tax cost of debt?
Compaq Computer has a £1 million receivable that is expects to collect in one year. Suppose the interest rate on the pound is 2.0% and the interest rate on the US dollar is 4%. If the currency exchange rate is $1.50/£, what value could Compaq lock in..
What is the origin of catastrophe bonds? What activities does the SPV perform for a catastrophe bond?
A company is deciding which of two processes to implement. Both processes will satisfy the same requirement for the next five years.
Shall sales rep should have authority to decide discrepancy's amount either collectable or requests the billing team to issue a credit note?
how do you differentiate between payments received at the beginning of a year, and payments received at the end of a year?
The market risk premium is 7 percent, and the risk free rate is 5 percent. What is the estimated price of this stock?
An investor purchases a stock for $52 and a put for $.60 with a strike price of $50. The investor sells a call for $.60 with a strike price of $58. What is the maximum profit and loss for this position?
Two bonds have 10 years to maturity. Bond A has a coupon rate of 2.45% and a price of 99.805 (% of FV). Bond B has a coupon rate of 5.90% and a price of 105.214 (% of FV). The bonds make semi-annual coupon payments. Which bond is selling at a premium..
Buddy owns 100 of the outstanding shares of Binder Corporation stock. Buddy's basis in his Binder Corporation stock is $100,000. Binder Corporation is merged with Clipper Corporation in a tax-free reorganization. Buddy receives 50 shares of Clipper S..
The entrepreneurial capacity of managers is a building block of industry analysis. The results from an industry analysis can be used indefinitely.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd