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!
(a) The following is an extract from KM's income statement for the year ended 31 March 2011:$Revenue 966,000Cost of salesGross profit 446,000(520,000)Administrative expenses (174,000)Distribution costs 232,000(40,000)Finance costProfit before tax(67,000)165,000Cost of sales includes depreciation charges of $42,000 for property, plant andequipment. Distribution costs include a depreciation charge for a new vehicle (seebelow). Included in administrative expenses are entertainment costs of $9,800.KM had been selling through retail outlets, but from1 April 2010 began selling on theinternet and delivering to customers as well. KM purchased its first delivery vehicle on 1April 2010 for $18,000. The vehicle qualifies for a first year tax allowance and isdepreciated on a straight line basis over six years.The property, plant and equipment (excluding the delivery vehicle) qualified for taxdepreciation allowance of $65,000 in the year ended 31 March 2011.
Required:
(i) Calculate the estimated amount of corporate income tax that KM is due to payfor the year ended 31 March 2011.
(ii) Calculate the income tax expense charged to the statement ofcomprehensive income for the year ended 31 March 2011.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?
Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..
Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.
Question based on Derive and compare demand curve, Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?
Problem based on Utility Function - Problem, Answer and explain the following using a diagram which is completely labeled.
Question based on Laffer Curve : Tax Rate and Tax Revenue, Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?
Problem - Income Elasticity of Demand, Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5
Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."
Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.
How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.
Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?
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