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Question - Kim Jin Woo Company reported post-tax profit of P491,400 for the year ended December 31, 2020. Cost of goods sold amounted to P2,108,000 which is P270300 greater than the net purchases during the year. Operating expenses amounted three times the peso amount of income tax expense. Beginning inventory is three times the amount of ending inventory. Income tax rate is 30%. How much were the total operating alarm during the year 2020?
Describe the reporting of pension plans for a company with multiple plans, some of which are underfunded and some of which are overfunded.
The taxi was repaired at a cost of $2,975 and insurance reimbursed Don $757 of this cost. What is the amount of Don's casualty loss deduction
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Consider a 20-year term insurance issued, Determine the policy value at time 19.3 and comment on whether you expect to get the same numerical results.
Calculate the nominal annual yield compounded half-yearly that Biti Bank realised. You may give your answer as a percentage per annum to the nearest percent
The Jacksons incurred $16,500 of itemized deductions, What is the Jacksons' taxable income, and what is their tax liability or (refund)
Sparrow Co. is currently operating at 80% of capacity and is currently purchasing a part used in its manufacturing operations for $8.00 a unit. The unit cost for Sparrow Co.
1.the balance in accounts receivable at the beginning of 2011 was 600. during 2011 3200 of credit sales were recorded.
background understanding accounting information goes far beyond the ability to record correct journal entries. it is
Compute Sales Revenue, Net Sales, and Gross Profit for LBS. Compute the gross profit percentage (using the formula shown in this chapter and rounding to one decimal place). Prepare journal entries to record transactions (a) and (e). LBS is considerin..
Prepare the tax effect Journal Entries for the independent situations and explain why each gives rise to a Deferred Tax Asset or a Deferred
On January 1, 2010, Gant Corporation had $1,500,000 of common stock outstanding that was issued at par and retained earnings of $750,000. The company issued 30,000 shares of common stock at par on July 1 and earned net income of $400,000 for the y..
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