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Problem 1: Billie operates a 24/7 convenience store. On the side, he also offers accounting services to his clients. In 2021, his gross sales amounted to P800,000.Billie also earned P300,000 from his accounting services of P300,000.00. Billie failed to signify his intention to be taxed at 8% income tax rate on gross sales in his initial Quarterly Income Tax Return. He incurred cost of sales and operating expenses amounting to P600,000.00 and P200,000.00, respectively. How much is Billie' income tax due for the year?
Why do firms need to invest in net working capital? Calculate simple interest on a bank loan of $200,000 for a month, with a quoted rate of 6% simple interest.
What is the size of the annual scholarships that can be paid out of a $500,000 fund invested at 14.25%, compounded semi-annually
Ralph Inc. manufactures desks. The following data was given for production in February: How many units were completed in February?
At the end of the first quarter, Entity A has handled a total of 360,000 service center calls. It recognizes revenue based on the proportion of calls completed relative to the total number of calls expected. How much revenue will Entity A recognize a..
Find How much is the budgeted manufacturing cost for a month when 600 units are produced? Bramble Corporation's manufacturing costs for August
The debt has semi-annual coupons, the next coupon is due in six months, If Avicorp faces a 40% tax rate, what is its after-tax cost of debt?
The expected rate of return on his savings is 7 percent per annum. How much does Sam needs to save each year to achieve his goal?
What are some implications when a organisation has a wide range (brand and model) of peripherals? Explain in detail and provide the specific example.
On December 31, 2020, when the carrying amount of the loan is determined, How much impairment loss should the bank recognize on December 31, 2020?
The interest rate in the eurozone is 3.0% per year, then how many euros will you have in your eurozone bank account at the end of one year?
If the T-bill rate is 3%, what does the CAPM say about the fair expected rate of return on the two stocks? (Do not round intermediate calculations.)
Prepare the journal entry that was made to record the admission of Shaw into the partnership - shaw purchased 20 percent of the respective capital balances of Miller and Davis, paying $20,000 cash directly to each of them.
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