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Problem 1: A concerned government employee furnished the BIR a statemet detailing the improper tax practices of a corporate taxpayer. The information was instrumental to the collection of P500,000 tax. How much informer's tax reward after tax shall be released to the information?
a. P 0
b. P 40, 000
c. P 45, 000
d. P 50, 000
Assume Simple Co. had credit sales of $245,000 and cost of goods sold of $145,000 for the period. Simple uses the percentage of credit sales method and estimates that 2 percent of credit sales would result in uncollectible accounts. What amount of Ba..
The corporate return is filed on Form 1120S. Corporations can receive an automatic extension of nine months for filing the corporate return by filing Form 7004 by the due date for the return.
Prepare the journal entry to record the purchase of the bonds by Saxton-Bose on January 1, 2011. Enter your answers in dollars not in millions. Round "PV Factor" to 5 decimal places andfinal answers to the nearest whole dollar amount.
Actual output was 1,000 units flags. The company's per unit standards call for 15 yards of direct material at $10.00 per yard and 4 hours of direct labor.
The total-cost approach and the incremental-cost approach to evaluating two competing investment opportunities:
FIN201 - Total risk can be decomposed into systematic and unsystematic risk. Explain each component of risk and how each is affected by increasing the number
Shannon Company segments its income statement into its North and South Divisions. The company’s overall sales, contribution margin ratio, and net operating income are $620,000, 50%, and $49,600, respectively. Prepare an income statement for Shannon ..
Which organizational form allows the business to be a separate, distinct entity from the owners
Prepare general journal entries to record the purchase and payment for inventory purchased from its Japanese vendor.
Develop a pro forma balance sheet and income statement. Assume that Gainesville cannot sell any fixed assets and that Gainesville
Crane Company had the following two transactions related to its delivery truck.
Purpose a schedule that converts Dr. Accord's excess of cash collected over cash disbursed for the year 2007 to total income on an accrual basis for the year 2007.
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