Reference no: EM132996711
Questions -
Q1. A company has an after-tax profit of P780,000 with the following transactions:
a) Unearned income of P600,000 and P400,000 as of April 1 and December 31, respectively
b) Prepaid expense of P800,000 and P500,000 as June 30, and December 31, respectively.
c) Interest from bank deposit amounting to P100,000
d) The company has no estimated income tax payment made during the year
e) Income tax rate is 35%
How much is the deferred tax asset?
Q2. A company has an after-tax profit of P780,000 with the following transactions:
a) Unearned income of P600,000 and P400,000 as of April 1 and December 31, respectively
b) Prepaid expense of P800,000 and P500,000 as June 30, and December 31, respectively.
c) Interest from bank deposit amounting to P100,000
d) The company has no estimated income tax payment made during the year
e) Income tax rate is 35%
How much is the deferred tax liability?
|
How does Paty Pets account for this receipt
: Patty's Pets had good second quarter (April, May, June) and will receive a check for 3% of their purchases in July. How does Paty Pets account for this receipt
|
|
How much is the adjusted capital of Y after the formation
: If the goodwill method is to be used in determining the capital of each partner, how much is the adjusted capital of Y after the formation
|
|
Find the value of ending inventory under absorption costing
: During 2016, it produced 20,000 units and sold 15,000 units (there was no beginning inventory). Find the value of ending inventory under absorption costing
|
|
Calculate the price paid by Khalil Ltd
: On 1 January 20X8, Khalil Ltd. purchased $2,800,000 of six-year, Harvest Ltd. 14.4% bonds. Calculate the price paid by Khalil Ltd
|
|
How much is the deferred tax liability
: Unearned income of P600,000 and P400,000 as of April 1 and December 31, respectively. How much is the deferred tax liability
|
|
How does one input this into a BAII Plus calculator
: How does one input this into a BAII Plus calculator? "A couple would like to know what sum of money is needed today, in order to fund their child's education
|
|
What is the journal entry to record the deferral
: During current period Nangka has accrued RM250,000 in long-service leave expense and paid none. The tax rate is 28%. What is journal entry to record deferral
|
|
What is the minimum cash inflow
: What is the minimum cash inflow that must be realized each year to justify the acquisition? The cost of capital is 8 percent
|
|
Briefly explain the income tax advantage of raising capital
: Question - Briefly explain the income tax advantage of raising capital by issuing bonds rather than by selling capital stock
|