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Question - Chris a CPA and a resident citizen owns an Accounting firm as a sole proprietor with Gross Receipts of P 6,700,000 and cost of direct services of P 4,400,00. The total assets of the partnership is P 30,000,000 excluding land value. Aside from that he also earned P 2,400,000 from his full-time job as a Tax Manager in TUV Corp. How much is his income tax due if he signified his intention to be taxed at 8%?
James Bond Pty Ltd uses 960 tonnes of a particular chemical each year. Monthly usage fluctuates between 70 tonnes and 90 tonnes. The lead time for each order.
Prepare a partial work sheet consisting of the first six columns (similar to the one shown in Exhibit 5B.1) that includes the unadjusted trial balance
At December 31, 2010 and 2009, Glass Corp, had 120,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2010 or 2009. Net i..
Why is a stable dividend payout policy popular from the viewpoint of the corporation? Is it also popular with investors? Why? Briefly explain your answer
Report the following ratios, using the text material for the Village of Elizabeth as a guide.
Prepare the journal entry to apply factory overhead to both jobs in April according to the predetermined overhead rate
A company buys a machine for $61,700 on January 1, 2010. The maintenance costs for the years 2010-2013 are as follows: 2010, $4,900; 2011, $4,700; 2012, $12,400 (includes $7,800 for cost of a new motor installed in December 2012); 2013, $4,800.
Sunshine Service Center received a 120-day, 6% note for $40,000,dated April 12 from a customer on account. Assume a 360 day year. Journalize the entry to record the receipt of the payment of the note at maturity.
what is eusociality? what characteristics of hymenopterans favor the evolution and maintenance of eusocial behavior?no
Calculate the asset turnover ratio and return on assets ratio - Its balance sheet also showed total assets at the beginning of the year of $25,633 and total assets at the end of the year of $24,244.
How much gross income must Cheryl report as a result of the dividend and what is her stock basis after the dividend
On January 1, 2003, Buster Corporation issued 100 bonds with a par value of $ 1,000 each. Compute the issue price of the bonds on January 1, 2003
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