Find how much final tax must rbc corporation withhold

Assignment Help Accounting Basics
Reference no: EM132726320

Problem 1: Roy invested P1,000,000in the "tax free" corporate bonds pf RBC Corporation. The bond pays 8. 75% interest annually net of any taxes. How much final tax must RBC Corporation withhold from the annual interest payment to Roy?

a. P 36, 000

b. P 16, 800

c. P 37, 500

d. P 0

Problem 2: A taxpayer wants to manually file his Monthly Remittance Return of Final Income Tax Withheld for the month of February 2017. What is the deadline for the return?

a. February 14, 2017

b. February 28, 2017

c. March 10, 2017

d. April 15, 2017

Reference no: EM132726320

Questions Cloud

Explain the nature of the loan and measurement : Explain the nature of this loan, its measurement and if it should be disclosed as equity. A parent company has extended financial help as a low interest loan
What is the Depreciation Expense Value for year : Acme Corp purchased a new machine that is expected to be used in manufacturing for 5 years for $60,000. What is the Depreciation Expense Value for year 2
Determine the surcharge and interest penalty due : Depositors in the month of April 2016. It wants to settle the unpaid final withholding tax on June 10, 2017. Compute the surcharge and interest penalty due.
Record the transactions and events in the journal entry : During 2018, Thomson Inc. had several transactions relating to common stock. Record the transactions and events in the journal entry
Find how much final tax must rbc corporation withhold : Find How much final tax must RBC Corporation withhold from annual interest payment to Roy? Roy invested P1,000,000in the "tax free" corporate bonds pf RBC Corp.
Compute how much informer tax reward after tax released : Compute How much informer's tax reward after tax shall be released to information? The information was instrumental to the collection of P500,000 tax.
What is the earnings per share : Wonderful had the following profits after tax: P2,400,000 in 2020 and P2,000,000 in 2019. What is the earnings per share in year 2019
What the lottery winning is : Tacurong, a resident citizen, won $1,000,000 from the US lottery. The lottery winning is? How much shall Tiong Sang withhold from the grand prize?
Compute how much final tax should withheld from the prize : Compute How much final tax should be withheld from the prize? Ms. Matti won a gold medal and P50, 000 cash prize for chess competition in the Palarong Pambansa.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Suggest how each weakness could be addresses or fixed

The following day Roger closed the bank account, which had $250 in it. Suggest how each weakness could be addresses/fixed

  Solve the variable selling and administration expenses

Solve the Variable selling and administration expenses and Factory cost of goods sold and Contribution margin in in shillings and Variable factory overhead

  On january 1 2011 charlie corporation acquired all of the

on january 1 2011 charlie corporation acquired all of the net assets of rocky corporation for 2000000. the following

  Selbe inc is a retailer operating in edmonton alberta selbe

selbe inc. is a retailer operating in edmonton alberta. selbe uses the perpetual inventory method. all sales returns

  What were the standard hours allowed for the units produced

Kansas Company uses a standard cost accounting system. In 2017, the company produced 28,400 units. What were the standard hours allowed for the units produced

  What is samantha adjusted basis in new truck she receieves

Samantha exchanges a truck used in her business with Phyllis for another truck. The basis of Samantha's old truck is $25,000, FMV is $33,000, and she gives Phyllis cash of $7,000. Phyllis's basis in her truck is $35,000 and its FMV is $40,000. Wha..

  What is the amount that someone should offer you

If you were to sell your bond today, what is the amount that someone should offer you (in other words, the market value of your bond!)

  Deer corporation was acquired last year by lobo corporation

deer corporation was acquired last year by lobo corporation in a transaction causing an ownership change. at the time

  How much of the net income is allocated to xavier

Xavier and Yolonda have original investments of $50,000 and $100,000 respectively. How much of the net income of $90,000 is allocated to Xavier

  Must the accounting equation always balance

Must the accounting equation always balance? Why?

  Why should not be dropped since the lost contribution margin

Why should not be dropped since the lost contribution margin is $10,000 greater than the avoided fixed expenses.

  Problem - Earnings Management

Problem - Earnings Management - Assume income before warranty expense is $43,000, What is the effect of the proposed accounting in 2017? In 2018

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