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Question - In the current year, Mr. Nguyen is provided with a vehicle owned by his employer, Translux Inc. The vehicle was originally purchased by Translux Inc. five years ago for $29,500 (including HST). Nguyen provides you with the following information:
Days the vehicle was available for use by Mr. Nguyen: 275
Months the vehicle was owned by Translux Inc.: 12
Fair market value of the vehicle in the current year: $12,500
Total kilometres driven in the current year: 32,000
Personal kilometres driven in the current year: 12,000
Find the minimum standby charge arising from the employer owned vehicle for Mr. Nguyen in the current year?
The current Income Statement also reports the company paid out $550,000 in cash dividends, What was the cash flow to stockholders for the year
For the fiscal year ended December 31, 2018, Charlotte Co. reported Net Income of $400,000. What will the company report for basic EPS
The following data was extracted from the records of Winsam Company Sales Revenue 450 units @ $35 per unit. What is the gross profit using the FIFO method
On 1 July 2019, Quick Buck Ltd took control of the assets and liabilities of Eldorado Ltd. Make the journal entries in the records of Quick Buck Ltd
Describe the relative effects on Income from Operations as demonstrated by requirement 1 when costs are rising and when costs are falling. Describe the relative effects on Income Tax Expense for each situation.
Using Palisades PrecisionTree software create a tree that graphically shows the various options open to customers of the Prescott Furniture Company . You must import your PrecisionTree into a Word document that contains the NSU/SBE front page
Preferred shares, no par value, 8% cumulative, 1,000 issued and outstanding $100,000. Prepare all journal entries for the transactions
hayase corporation processes sugar beets that it purchases from farmers. sugar beets are processed in batches. a batch
1. what is the impact on the founders and round one investors final ownership assuming the second round is funded by outsiders?
Should the company follow the controller's recommendations? Compute the amount of the total overhead allocated to each of the products under activity based costing.
On April 1, it established a petty cash fund in the amount of $253. Prepare journal entries to record transactions related to petty cash for the month of April
ow is the beginning-of-period noncontrolling interest balance determined? Which of the subsidiary's account balances must always be eliminated? Why?
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