User Account

All Pages

What is the taxable income of Mr Pamplona

Assignment Help Accounting Basics
Reference no: EM132522959

Question - Mr. Pamplona earned total gross receipts of P800,000 and paid P300,000 in expenses in his accounting practice. During the same year, he also earned a total of P60,000 net gain from the sale of domestic stocks directly to a buyer. He also disposed a vacant lot at a net gain of P140,000. What is the taxable income of Mr. Pamplona?

Reference no: EM132522959

Questions Cloud

Provide the entries for lease in the books of xfisher ltd : Prove that interest rate implicit in lease is 10 per cent. Provide the entries for the lease in the books of XFinance Ltd as at 1 July 2019, and 30 June 2020.
Predict the number of defective games : A computer game company makes random checks of its games. Of 200 games, 4 are found to be defective. Find P(defective)
Case study analysis and report - amcor company : Describe their strategic plan and they how did they perform in the past 3 years? Please refer to the Chairman's and CEO's Reports. Give your opinion
Explain the basic elements of public finance : Explain the basic elements of public finance and how the idea of branding can be an important aspect of budgeting for law enforcement and corrections agencies.
What is the taxable income of Mr Pamplona : Mr. Pamplona earned total gross receipts of P800,000 and paid P300,000 in expenses in his accounting practice. What is the taxable income of Mr Pamplona
What is all included on the income statement : What is all included on the income statement? rent expense, is income tax expense another and how about cost of good sold? Provide the suitable example
Calculate that the sample mean numbers of hours : A sociology professor is interested in studying the mean number of hours,that a day student spends per week studying.This number is believed
Four types of criminal justice systems : Compare and contrast the four types of criminal justice systems. Identify the type in which you would be most comfortable working in, and explain why.
Find the project coefficient of variation : Find the project's coefficient of variation. A project's base case or most likely NPV is $50,000, and assume its probability of occurrence is 60%.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Pelusos plant manager is considering making the headlights

pelusos plant manager is considering making the headlights now being purchased from outside supplier for 11.00 each.the

  Suppose that the annual rates of growth of real gdp of

suppose that the annual rates of growth of real gdp of econoland over a five-year period were sequentially as follows 3

  Discuss the potential costs and changes

Assume that IFRS is adopted and GAAP is replaced. Discuss the potential costs and changes that will be experienced by US companies.

  Compute the equivalent units of direct materials

Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method.

  Determine the amount of sedato company inventory

Lower-of-Cost-or-Market Sedato Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

  The corporate scandals that led to its creation

What were the corporate scandals that led to its creation

  Calculation of predetermined indirect cost rate for year

Harris Fabrics calculates its indirect cost rate each year based on the hours of direct labor. Calculation of the predetermined indirect cost rate for the year

  Consider the financial performance before the audit

What plans should the hospital Board make for next year and the next five years?

  Write paper analyzing the disclosures contained

Write a 700- to 1,050-word paper analyzing the disclosures contained within the notes to the financial statements related to cash and cash equivalents

  Project operating cash flow for the first year

The company faces a 40% tax rate. What is the project's operating cash flow for the first year (t = 1)?

  Compute the simple rate of return expected from water slide

Sharkey's Fun Center contains a number of electronic games as well as a miniature golf course and various rides located outside the building.

  What is the internal rate of return

Keita Knightly Company buys a piece of equipment for $36,442 that will last for 7 years. What is the internal rate of return

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd