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Question 1 - The net income of Herbert Co. for the year 2022 was P50,000. Selling expenses were equal to 16% of sales and 20% of the cost of sales. All other expenses were 3% of sales. The cost of sales of Herbert Co. for the year 2022 was?
Question 2 - Honasan Co. reported profit after tax of P420,000. Honasan's income tax rate is 25%. Operating expenses for the year is 20% of sales and 50% of cost of sales. Other expenses were 5% of sales. How much is the total sales?
Compile detailed report on nature of an excess, how it should accounted for and effects of its reconigition on subsequent consolidated financial statements
If the common stock had a market price of $540 per share before the stock split, what would be an approximate market price per share after the split
Required: Prepare the consolidated income statement, consolidated statement of changes in equity, and consolidated balance sheet of the Bon Ltd
Explain the elements of negligence. Who is negligent in this case and why? Explain the possible defenses, if any, the train company could use if the owner.
mr. larry leininger donated 3000000 to a nongovernment vhwo on june 17 20x8.1. assume that no restrictions are placed
Thomas Corporation is evaluating whether to lease or purchase equipment. Its tax rate is 30 percent. Calculate the cost of leasing the equipment
What The entity that was sued should at year end? A competitor has sued an entity for unauthorized use of its patented technology
The probabilities of an economic boom, normal state or recession are 30%, 50% and 20%, respectively. What is the expected rate of return on this share
If the labor supply curve shifts to the left and the labor demand curve remains unchanged, what will happen to the equilibrium wage and the equilibrium level of employment? Illustrate your answer with a graph.
Briefly explain the provisions relating to the carry forward of business losses by an assessee that enjoys tax holiday U/S 46B of ITO 1984.
payne company purchased a new machine on january 1 2005 for 678000. the machine was assigned a 10-year life and a
During 2007, Colorado Company stock was sold for $9,400. Prepare the adjusting journal entry needed on December 31, 2006
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