Part Il: ProbleHS 1. If the salary of an employee is 2,000 Birr and the tax Rate 15% and deduction = 142.50. Instruction: a. Calculate the income tax Income Tax (2,000 Birr x 15%)- 142.50 Birr= 157.50 Birr b. Record the payment of salary to the employee Salary expense 2000 Employment income tax 157.50 Cash 1842.5 C Record the payment of withholding tax to the tax authority Employment income tax 157.50 Cash 157.50 Assume that the revenue from Karamara Share Company is Br 2,000,000 during Tax Year ended Sene 30, 2012. Cost and Expense were Br 1,000,000 and Br S60,000, respectively. Determine the Taxable Business Profit and Compute the Business Profit Tax Liability of this Share Company. Mr. Ayub has a building that is available for rent The following are the details of the property let out He has let out for twelve months. Actual rent for a month is birr 2000, He paid 15% of the 2. 3. 1

Part Il: ProbleHS 1. If the salary of an employee is 2,000 Birr and the tax Rate 15% and deduction = 142.50. Instruction: a. Calculate the income tax Income Tax (2,000 Birr x 15%)- 142.50 Birr= 157.50 Birr b. Record the payment of salary to the employee Salary expense 2000 Employment income tax 157.50 Cash 1842.5 C Record the payment of withholding tax to the tax authority Employment income tax 157.50 Cash 157.50 Assume that the revenue from Karamara Share Company is Br 2,000,000 during Tax Year ended Sene 30, 2012. Cost and Expense were Br 1,000,000 and Br S60,000, respectively. Determine the Taxable Business Profit and Compute the Business Profit Tax Liability of this Share Company. Mr. Ayub has a building that is available for rent The following are the details of the property let out He has let out for twelve months. Actual rent for a month is birr 2000, He paid 15% of the 2. 3. 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Question D is incorrect. Can you check the answer
How do I do number 2 ?
how do you calculate the answers for question a
please help me
Can you answer part 4
Problem 9-25 Fudge factors An oil company executive is considering investing $10.1 million in one or both of two wells: well 1 is expected to produce oil worth $3.01 million a year for 10 years; well 2 is expected to produce $2.01 million for 15 years. These are real (inflation-adjusted) cash flows. The beta for producing wells is 0.91. The market risk premium is 9%, the nominal risk-free interest rate is 7%, and expected inflation is 3%. The two wells are intended to develop a previously discovered oil field. Unfortunately there is still a 21% chance of a dry hole in each case. A dry hole means zero cash flows and a complete loss of the $10.1 million investment. Ignore taxes and make further assumptions as necessary. a. What is the correct real discount rate for cash flows from developed wells? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Real discount rate b. The oil company executive proposes to add 20 percentage points to the…
Please provide answer to questions a to c
This is a two part question
Question No 01 What is a difference between “Musharaka and Mudaraba”? What are the common basic rules between them to be followed? What are the uncommon rules between them?
Answer question 1 and 2
I need help with questions 1 and 2
i did ask for a certain question to be resolved question 2b