Find how much final tax will be withheld

Assignment Help Financial Accounting
Reference no: EM132711323

Problem 1: Mr. Conrado won the P50,000,000 6/49 Superlotto Jackpot of the Philippine Charity Sweepstakes Office. How much final tax will be withheld?

a. P 500, 000

b. P 200, 000

c. P 100, 000

d. P 0

Reference no: EM132711323

Questions Cloud

Therapy available for treatment of the disorder : Discuss therapy available for treatment of the disorder. Does the therapy treat the symptoms or the metabolic nature of the disease? Explain
Analyzing the data to your future professional practice : How you plan to apply what you learned about administering the assessment and analyzing the data to your future professional practice.
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. How much final tax should be withheld from the prize?
How much is the capital gains tax on the sale : The par value of stocks is P30 per share. Thirty days after, Mitch sold the stocks at P65 per share. How much is the capital gains tax on the sale
Find how much final tax will be withheld : Mr. Conrado won the P50,000,000 6/49 Superlotto Jackpot of the Philippine Charity Sweepstakes Office. How much final tax will be withheld?
Which reptile subgroup is considered extinct : Which reptile subgroup is considered extinct?
What is the phenotype ratio of the offspring : What is the genotypic ratio of the offspring? What is the phenotype ratio of the offspring?
Compute the total final tax that should have been withheld : Ang Mahiwagang Boses Singing, Sexy Body Foundation Dancing. Compute the total final tax that should have been withheld from the above prizes.
Compute the Anthony gross profit ratio : Anthony Corporation reported the following amounts for the year: Net sales $296,000. Compute the Anthony's gross profit ratio

Reviews

Write a Review

Financial Accounting Questions & Answers

  Ending inventory and cost of goods sold

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.

  How long will it take for investment to double in value

If you invest $2,000 today in a money market account that earns 2.5% per year, how long will it take for your investment to double in value?

  Journal entry to record the issuance of the bonds

A Salon issued $500,000, 6%, 5-year bonds on 1/1/18. The bonds pay interest every December 31.

  Cash basis to the accrual basis

A company switched from the cash basis to the accrual basis for recognizing warranty expense. The unrecorded liability for warranties was $2.1 million at the beginning of the year. Its tax rate is 35%. The company booked a year-end warranty liability..

  Prepare an exchange rate forecast for the Zonolian ecru

As one of your first assignments as a new hire on the corporate treasurer’s staff of Global Enterprises, Ltd., you are asked to prepare an exchange rate forecast for the Zonolian ecru (ZOE). Specifically, you are expected to forecast what the spot ra..

  Find the amount of accounts receivable reported

Find the amount of accounts receivable reported on the company's budgeted balance sheet for June 30. Memphis company anticipates total sales

  What is the total amount invested by all stockholders

On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of $45 par common stock at $54, and on August 7, it issued for cash 20,000 shares of preferred stock, #10 par at $12. Journalize the entries for April 20 and ..

  FIN 3302 - Business Finance Assignment

FIN 3302 - Business Finance Assignment Help and Solution - University of Houston-Downtown, USA. What is the breakeven point of the firm

  Create a balanced scorecard for the organization

Create a balanced scorecard for the organization based on the information that you have researched and analyzed for the organization.

  Standard deduction-no of exemptions and deduction in dollar

Ryan 66 old and bella 54 old married. 2 kids 18 years and britany 23 graduated 2014 may. During year matt earn $4940 part time and britany $ 12500 in job start in October. Both live with parent. gross income both parent 147000. Bella parent also livi..

  Journalize the withdrawal of rice

B. Higgins, J. Mayo, and N. Rice have capital balances of $95,000, $75,000, and $60,000, respectively - Journalize the withdrawal of Rice under each of the assumptions

  Prepare budgets-budget figures are often biased

Because people prepare budgets, budget figures are often biased. Which is true?

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