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Question - Mr. Abbas is a sales tax registered person and is a supplier of Tiles,he purchased tiles from Best Tiles PvtLtd. Which is a manufacturer of tiles, for the sum of Rs.1,000,000/- and paid 17% sales tax on the said purchases. Further, during the month, Mr. Abbas also purchased by- products, which include chemicals from the same manufacturer for the sum of Rs.100,000 plus 17% . Mr. Abbas also paid K Electric Bill for the sum of Rs.10,000/-during the same month, which includes sales tax for the sum of Rs.2,000/- Subsequently, Mr. Abbassold/supplied goods to Mr. Hamza for the sum of Rs.1,200,000 and charged sales tax at the rate of 17%. Compute Sales tax liability of Mr. Abbas?
2018 March 1 Paid the first instalment on the note. December 31 Accrued interest on the note payable. Journalise the transactions for the business
Explain how the company's equity section changes after the October 11 treasury stock purchase, and prepare the revised equity section of its balance sheet.
Compute working capital and the current ratio, If answer is negative enter it with a negative sign preceding the number e.g. -15.2 or in parentheses e.g.
What was the company's break-even point in sales dollars in 2008? How many additional units would the company have had to sell in 2009
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Make the adjusting entry to shift the current installment of the long-term note payable to a current liability. Also accrue interest expense at year end.
1. Compute the manufacturing product cost per unit for each type of bookcase.
olbeat Corp. shows the following information on its 2015 income statement: sales = $251,000; costs = $156,000; other expenses = $7,900; depreciation expense = $18,400; interest expense = $14,400; taxes = $19,005; dividends = $11,500. In addition, ..
What was the company's inventory turnover for the most recent year reported? Is the company's operating cycle influenced significantly
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