Reference no: EM133138091
Question 1 - The company Techito S.A. presents this information about this year's activities.
|
Cost of sales
|
¢46,551,000
|
|
Returns on sales
|
¢225,600
|
|
Other expenses
|
¢210,300
|
|
Administrative expenses
|
¢2,106,000
|
|
Sales
|
¢69,611,000
|
|
Selling expenses
|
¢2,887,500
|
|
Sales discounts
|
¢218,400
|
Required -
1. Prepare the Income Statement as seen in this module.
2. Perform the calculation and indicate the amount of the ISR.
Question 2 - The company Techito, S.A. has 10 employees, all with different gross monthly salaries. These salaries are for the following amounts:
|
Name of the official
|
Gross monthly salary
|
Married
|
Minor children
|
|
Daniela
|
¢1,500,000
|
Yes
|
3
|
|
Denia
|
¢6,520,000
|
No
|
1
|
|
Douglas
|
¢600,000
|
Yes
|
2
|
|
Henry
|
¢1,100,000
|
No
|
1
|
|
Kattia
|
¢2,250,000
|
Yes
|
1
|
|
Natalia
|
¢5,241,000
|
No
|
2
|
|
Roberto
|
¢4,650,000
|
No
|
0
|
|
Dew
|
¢8,000,000
|
Yes
|
4
|
|
Rose
|
¢950,000
|
No
|
0
|
|
Teresita
|
¢3,950,000
|
Yes
|
2
|
Required -
1. Calculate how much the ISR should be withheld from the ISR (considering the family credits) to each of them.
2. Calculate how much each of them should be withheld from the ISR (without considering family credits).
Question 3 - You have the information of different professionals who work independently, they present the necessary vouchers for the accountant Andrews Montes to present the declaration and they can know how much they will pay for ISR.
After an exhaustive review, Mr. Montes determines that these are the final data with which he will be able to calculate the ISR of each of his clients:
|
Customer Name
|
Gross income received
|
Costs and expenses
|
|
Adriana
|
¢12,503,000
|
¢1,875,450
|
|
Carlos
|
¢18,250,000
|
¢2,737,500
|
|
Cristian
|
¢36,985,000
|
¢5,547,750
|
|
Ernesto
|
¢25,000,000
|
¢3,750,000
|
|
Fabiola
|
¢8,547,100
|
¢1,282,065
|
|
Ingrid
|
¢48,542,100
|
¢7,281,315
|
|
July
|
¢15,852,400
|
¢2,377,860
|
|
Monica
|
¢4,060,000
|
¢609,000
|
|
Patricia
|
¢63,582,410
|
¢9,537,362
|
|
Sonia
|
¢5,650,000
|
¢847,500
|
Required - Calculate the ISR that each of Mr. Montes' clients will have to pay, consider that they are all single and without children.
Question 4 - Mr. Andrews Montes carries out the accounting of different small companies that are dedicated to providing various services, under the figure of legal entity.
After an exhaustive review, Mr. Montes determines that these are the final data with which he will be able to calculate the ISR of each of his clients:
|
Gross income received
|
Expense
|
|
BULL S.A.
|
¢44,719,360
|
¢8,943,872
|
|
CHICKEN S.A.
|
¢35,650,000
|
¢7,130,000
|
|
COW S.A.
|
¢164,658,262
|
¢32,931,652
|
|
DOLPHIN S.A.
|
¢72,924,755
|
¢14,584,951
|
|
DONKEY S.A.
|
¢184,417,254
|
¢36,883,451
|
|
GOAT S.A.
|
¢91,476,812
|
¢18,295,362
|
|
RABBIT S.A.
|
¢81,675,725
|
¢16,335,145
|
|
ROOSTER S.A.
|
¢65,111,388
|
¢7,813,367
|
|
SHEEP S.A.
|
¢50,085,683
|
¢10,017,137
|
|
TURKEY S.A.
|
¢39,928,000
|
¢7,985,600
|
Required - Calculate the ISR to be paid by each of Mr. Montes' clients.
Question 5 - Mr. Andrews Montes carries out the accounting of different small companies that are dedicated to providing various services, under the figure of legal entity.
As every year, Mr. Montes determines the amounts of advance of the ISR of each of his clients, to inform them and that they proceed to make the payment to the Ministry of Finance:
The data for the last three years are presented in the table below, with them Mr. Montes will proceed to calculate the advance payments for this year (Year 4)
|
Customer:
|
YEAR 1
|
YEAR 2
|
YEAR 3
|
|
HONEYSUCKLE S.A.
|
¢1,588,560
|
¢1,750,000
|
¢1,957,440
|
|
DELPHINIUM S.A.
|
¢42,541,000
|
¢43,520,410
|
¢41,254,135
|
|
CHERRY BLOSSOM S.A.
|
¢521,436,520
|
¢504,821,402
|
¢522,012,412
|
|
GLADIOLUS S.A.
|
¢6,358,143
|
¢6,958,712
|
¢5,845,214
|
|
FREESIA S.A.
|
¢69,854,012
|
¢66,525,413
|
¢70,841,251
|
Required - Calculate the amount of the partial payment of the ISR that each of Mr. Montes' clients must pay during Year 4.