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School
City University of Hong Kong *
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Course
4251
Subject
Accounting
Date
Nov 24, 2024
Type
PNG
Pages
1
Uploaded by BrigadierJellyfishMaster2135
17:04
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Q3
Mr.
Lam
is
the
chief
accountant
of
a
Hong
Kong
company,
and
he
received
an
annual
remuneration
of
$1,500,000
and
a
refund
of rent of
$30,000
each
month
from
employer.
Each month,
he
paid
rent
of
$36,000
and
building
management
fee
of
$4,000.
Each
quarter,
he
pays
rates
of
$6,000.
Compute
Mr.
Lam’s
assessable
income
for
the
year.
Salaries
$1,500,000
Rental
Value
(10%
x
$1,500,000)
$150,000
Less:
Rent
paid
by
employee
504,000
*
Less:
Rent
refunded ($30,000
x
12)
360,000
144,000
__6,000
—
—————
Assessable
income
$1,506,000
*$(36,000
+
4,000
+
)
x
12
=
$504,000
Q4
Mr.
Pak
is
the
regional
sales
manager
of
an
American
company.
His
employment
is
sourced
outside
Hong
Kong.
He
received
an
annual
remuneration
of
$2,000,000
and
a
monthly
refund
of rent of
$50,000
from
his
employer.
Each
month,
he
paid
rent of
$60,000.
During
the
year
of
assessment,
he
stayed
in
Hong
Kong
for
292
days.
Compute
Mr.
Pak’s
assessable
income
for
the
year.
Salaries($2,000,000
x
)
$1,600,000
Rental
value
($1,600,000
x
10%)
$160,000
Less:
Rent
paid
by
employee
720,000
Less:
Rent
refunded
600,000
120,000
_40,000
($50,000
x
12)
Assessable
income
$1,640,000
Note:
Although
the
rental
value
is
calculated
on
the
10%
of
the
reduced
time-
apportioned
income,
the
rent
suffered
for
the
whole
year
is
deductible
from
the
—
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sh5
please helm me
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! Question 18
B is a builder with a staff of ten employees. In April 2000 he paid the following amounts:
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Tax and employees' national insurance for March 2000
Employer's national insurance for March 2000
$7,000
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First City Bank pays 6 percent simple interest on its savings account balances, whereas
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c. $43,426.30
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Financial Accounting
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which one is correct please confirm?
QUESTION 36
What is the value in 10 years of $10,000 deposited in an account earning 8% compounded monthly?
a.
$102,530
b.
$33,004
c.
$22,285
d.
$21,589
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Financial Accounting Question provide correct solution
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14-17
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CHAT
Question
Carlos is a resident citizen. He maintains a savings account deposit with the BPI-Baguio City Branch. For the current year, his savings earned a total of P6,000 interest. How much is the final tax on said income?
a. P300
b. P720
c. P1,200
d. P1,500
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70252Fwebapps%252Fportal%252Fframeset.jsp%253Ftab_tab_gr...
Sam Monte deposits $21,500 into Legal Bank, which pays 6% interest that is compounded semiannually. Using the table in the handbook, what will Sam have in his
account at the end of six years?
Multiple Choice
$30,654.70
$30,456.07
$29,760.30
() $29,670.03
None of these
vi 7:13
Tote
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7
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Using the tables found in the textbook, determine the difference between the monthly payments on a $120,000 home at 6½% and at 8% for 25 years.
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O B. $34.32
O C. $343.23
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