Reference no: EM132887271
Question - On January 1, 20x1, ABC Co. sold machinery costing 1,750,000 with accumulated depreciation of 1,100,000 in exchange for a 3-year, 900,000 noninterest-bearing note receivable due as follows:
Date & Amount of installment
December 31, 20x1 400,000
December 31, 20x2 300,000
December 31, 20x3 200,000
The prevailing rate of interest for this type of note is 10%. How much is the total income to be recognized for the year 20x1 in relation to the sale of the machinery?
|
What is the total reportable gross income
: What is the total reportable gross income? Lexie registered his business as a BMBE. He made a total sales of P500,000 and incurred cost of sales of P400,000.
|
|
What is total amount to be included in sloan gross income
: What is the total amount to be included in Sloan's gross income? Sloan received a total P200,000. Sloan also received P150,000
|
|
Compute allowable deduction for ear expense for abcde corp
: Compute the allowable deduction for EAR expense for ABCDE Corporation. ABCDE Corporation has a gross receipts of P2,000,000 and direct cost of services.
|
|
Homeland security recommendations
: Describe and evaluate the value of Joint Terrorism Task Forces. Select one particular JTTF to serve as an example.
|
|
How much is the total income to be recognized for the year
: The prevailing rate of interest for this type of note is 10%. How much is the total income to be recognized for the year 20x1 in relation to sale of machinery
|
|
How much is billie income tax due for the year
: How much is Billie' income tax due for the year? Billie operates a 24/7 convenience store. On the side, he also offers accounting services to his clients.
|
|
How much is graham income tax due for the year
: He already signified his intention to be taxed at 8% income tax rate in her 1st quarter return. How much is Graham' income tax due for the year?
|
|
Hand coding versus qualitative data analysis software
: Develop a paper describing considerations for choosing to use QDA software.
|
|
How much is molly income tax due
: Philhealth, and HDMF amounting to P5,000. She also received 13th month pay of P11,000.00. How much is Molly's income tax due?
|