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Problem - An Ontario Sport Store selling Taxable Products provides you that the following HST Included Financial information for this month:
Retail Store in Toronto, Shirts and shorts - $1,200
Sale to Bloomingdale's in New York, USA, shirts - $2,000
Bad debt Recovery-Ontario retail customer sales last month shirts - 50% of $1,000 of Revenue including HST sold last month and recognized as bad debt for HST purposes.
Telephone Expense - $50
Required - What will be The Bad Debt Recovery Journal Entry dollar Amount to HST Payable, rounded to the nearest dollar for this month?
the stock price has risen to $30 per share. Corky continues to own the stock. Corky must currently recognize taxable income
A department has budgeted monthly manufacturing overhead cost of $270,000 plus $3 per direct labor hour. If a flexible budget report reflects $522,000 for total budgeted manufacturing cost for the month, the actual level of activity achieved durin..
Peter, Paul, and Simon are partners in an accounting firm. If the profits of P66,000 in 2018, compute the total profit share of Simon
Consider the basic EOQ model. We want to know the sensitivity of (1) the optimal order quantity, (2) the sum of the annual order cost and the annual holding cost (not including the annual purchase cost cD), and (3) the time between orders to vario..
Determine the amount for which the partnership must sell the other assets to ensure that Zed receives $3,000 from the liquidation
Estimated taxable income for Judy and Walter (please show computations). Summary of tax return, including any suggestions or tax planning considerations.
The mountain cabin is sold on March 3, 2019, for $540,000. Calculate Lloyd's least allowable recognized gain on the sale of the two residences
Bertone Inc., which produces a single product, has provided the following data for its most recent month of operation:
Make an adjusting entry for balance sheet
Question - What factors create a foreign exchange gain on a foreign currency transaction? What factors create a foreign exchange loss
Assuming that a prevailing interest rate of 8% applies to this contract, how much should Teal record as the cost of the machine?
Compute the amount of revenue and gross profit or loss to be recognized in 2016 and 2017
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