Determine the fbt in respect of the benefits

Assignment Help Accounting Basics
Reference no: EM133174689

Question - John Holmes, who is employed by Locksmith Pty Ltd, received the following benefits as part of his salary package:

A company car valued at $30,000 was provided for John's private use on 1 April and was garaged at his home every night. There was no logbook maintained of its actual use.

He received a travel allowance of $10,000.

He also received a trip to London valued at $2,500. He used the trip wholly to attend an advanced locksmith engineering course.

Required - Determine the FBT in respect of the above benefits?

Reference no: EM133174689

Questions Cloud

What you would you do to combat the ethical lapses : Understand how Cherrington and Cherrington's (1992) typology of ethical lapses applies to the modern workplace
What were the underlying corporate governance : What were the underlying corporate Governance, legal and ethical issues that led to its demise? What was the nature of the business the directors of One.Tel
Elaborate on any five of the barriers to critical thinking : Do you agree or disagree with the statement, 'Good thinkers are born rather than made? Justify your argument
Explain the concept of managing up : Explain the concept of managing up and the tactics that could be used to accomplish this (short and simple please)
Determine the fbt in respect of the benefits : A company car valued at $30,000 was provided for John's private use on 1 April. Determine the FBT in respect of the benefits
Calculate the npv for each proposed project : Calculate the NPV for each proposed project. If the company was able to undertake all positive NPV projects, what level of NPV could be achieved
Discuss ethical areas in modern business : Discuss ethical areas in modern business. How would you apply the definition of ethics to these articles
Replenish inventory faster and save employees : Walmart first announced the use of shelf-scanning robots in 2017, aiming to replenish inventory faster and save employees time when products run out.
How much of his payments would be able to be included : He pays $1,400 monthly on it. How much of his payments would be able to be included in business overhead insurance coverage

Reviews

Write a Review

Accounting Basics Questions & Answers

  Widget inventory at the end of year using variable costing

What is the dollar value of the widget inventory at the end of the year using variable costing?

  What is the yearly side effect for introducing new product

Suppose that Coca-Cola decides introduce a new diet soft drink in the market. What is the yearly side effect for introducing new product

  Determine the number of new customer accounts

Break-even analysis - Determine the number of new customer accounts needed to break even on the cost of the promotional campaign

  Calculate lost profit damages on convoyed sales

Calculate lost profit damages on convoyed sales,Calculate the total value of all the damages as of June 30, year 6, which is the estimated date

  Calculate the incremental allowance for sampling risk

If a risk of incorrect acceptance of 15% is specified in the sample design, the sampling interval is $2,000. Calculate incremental allowance for sampling risk

  Calculate the late filing penalty

Calculate the late filing penalty for missing the filing deadline and explain any possible additional costs to the employer related to this oversight

  What overall net income would be produced

What overall net income would be produced if the admission rate of the capitated group were reduced from the commercial level by 10 percent

  1nbspnbspnbspnbspnbsp danton company manufactures two

1.nbspnbspnbspnbspnbsp danton company manufactures two products product f and product g. the company expects to produce

  Describe the different kinds of fraud andthe fraud triangle

Describe the different kinds of fraud andthe Fraud Triangle, an auditor's responsibility to identify and assess fraud.Describe the specific risks

  Compute the sales required to realize income

For the current year ended October 31, Yentling Company expects fixed costs of $14,000,000, Compute the sales required to realize income

  What the february expected cash receipts

A company's history indicates that 20% of its sales are for cash and the rest are on credit. What the February expected cash receipts

  What is the net cost of the merchandise

Assuming no returns were made and that payment was made within the discount period, what is the net cost of the merchandise

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd