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Question 1: Venus Ltd has acquired machinery worth of Rs. 1000 million. The company provides 10% depreciation under straight-line-method of depreciation for preparing Income Statement. For computing tax, it provides 15% depreciation under Written-down-value (WDV) method. If tax rate is 30%, the deferred tax amount in the first year is equal to:
A. Rs. 15 million
B. Rs. 45 million
C. Rs. 50 million
D. Rs. 30 million
What is the break-even point in passengers and revenues per month and what is the break-even point in number of passenger train cars per month?
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the Mar..
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Prepare all journal entries necessary to account for the acquisition of the aircraft, and its depreciation, for the year ending 30 June 2014 - Determine the rate of interest implicit in the lease and calculate the present value of the minimum lease ..
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Increase in assets-Increase in liabilities.
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Hopeful company issued $1,000,000, five year bonds and agreed to make quarterly deposits of $20,000 to support repayment of the bonds. The deposits are made at the end of each year to a fund paying 16% interest compounded quarterly. What amount will ..
If the dividend payout is only 25 percent, what effect will the growth have on funds? What effect will the growth have on funds?
Evaluate the amount of gross profit or loss to be recognized in each of the three years using the completed contract technique.
Enter the transactions in appropriate general ledger using T-accounts. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value. Do not use a drawing account. Prepare a trial balance. Prepare an income ..
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