888 Canning Company produces canned sardines but sells raw excess fishduring peak fishing seasons or preserves them by sun-drying and sells themto the local market.den nesortThe following were the sales in January 2020:unimol besHags blodseuoHCanned sardines850,000130,00040.000 isdeP 1,020.000Excess fresh sardinesDried fish291Total sales000,0SSdWhat is the amount of taxable sales?c. P820,000nok aoqmi now.nM SId. P850,000femoben naOl Tola.РОb. P130,000

Answer - In order to Calculate Taxable Sales we need to first of all find which products are taxable…

Answered: 888 Canning Company produces canned…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem 6. Highland Coffee Company is concerned with its gross profit negating the increase of its sales. It presents the following data for two species of coffee, Arabica and Robusta, for 2020 and 2019: 2020 2019 Kilos Price/Kg. Amount Kilos Price/Kg. Amount Net sales Arabica 12,000 P390 P4,680,000 10,500 P400 P4,200,000 3,600,000 8,280,000 Robusta 10,000 360 11,000 330 3.630,000 Totals 7,830,000 Cost of goods sold Arabica 320 3,840,000 3,000,000 350 3,675,000 Robusta 300 240 2,640,000 Totals 6,840,000 6,315,000 P1,440.000 Required: Calculate and analyze the gross profit variance. Gross profit P1,515.000
keAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inprogress%3false Update 44 Rockhill Corporation operates a women's clothing boutique. Its taxable income for the current year is $60,000. What is Rockhill's income tax liability? Oa. $12,600 Ob. $15,000 Oc. $6,000 Od. S-0- Oe. $9,000 Previous Next 1:56 5/11/
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Saved Help Save & Exit Submit TB MC Qu. 07-124 (Algo) Valley Spa purchased... Valley Spa purchased $11,200 in plumbing components from Tubman Company. Valley Spa signed a 90-day, 7% promissory note for $11,200. If the note is dishonored, what is the amount due on the note? (Use 360 days a year.) Multiple Choice $11,200 $11,450 $196 $11.396 1,069 15 étv MacBook Air 80 888 DII DE F3 F4 F5 F6 F7 F8 %23 24 2 3 7 8 W E R
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Problem 2-13 (IAA) Clam Company offers customers a pottery cereal bowl if they send in three boxtops from its products and P10. The entity estimated that 60% of the boxtops will be redeemed. During the current year, the entity sold 675,000 boxes and customers redeemed 330,000 boxtops receiving 110,000 bowls. The cost of each bowl is P25. 1. What is the premium expense for the current year? a. 2,025,000 b. 6,075,000 c. 4,550,000 d. 1,650,000 2. What is the liability for outstanding premiums at year-end? a. 250,000 b. 375,000 c. 625,000 d. 875,000
Information we know about a company Cleaning company Ltd is that the price of their cleaning service is: 45 €/hour + 50 €/case. In 2022 Cleaning company Ltd has had 70 cleaning cases and in those they have cleaned totally 480 hours. According to this information, what is their sales revenue in 2022? a) 21600 €, b) 25600 €, c) 45600 €, d) none of the choices is correct 21600 € 25600 € 45600 € none of the choices is correct
34 ABC Corporation has the following sales during the 1st quarter of 2021: Sale to private entities subject to 12% Php 1,000,000 Sale to private entities subject to 0% 1,000,000 Sale exempt from VAT 1,000,000 Sale to government 1,000,000 The following input taxes were passed on by ABC Corp.'s VAT suppliers: Input tax on taxable goods 50,000 Input tax on zero-rated sale 30,000 Input tax on sale of exempt goods…
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A 27. Subject:- accounting

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