B Ltd purchased stock on 30 October 2022 for R138 000 (including VAT). Handling costs of R6 500 (excluding VAT) and transportation costs of R4 025 (including VAT) were incurred? What will be the COST PRICE of the stock for taxation purposes? OA. R148 525 O B. R130 000 OC. R138 000

B Ltd purchased stock on 30 October 2022 for R138 000 (including VAT). Handling costs of R6 500 (excluding VAT) and transportation costs of R4 025 (including VAT) were incurred? What will be the COST PRICE of the stock for taxation purposes? OA. R148 525 O B. R130 000 OC. R138 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 7) What is an ESOP? What are the characteristics and rules of an ESOP plan?

A: ESOP stands for Employee Stock Ownership Plan. It is a kind of employee benefit plan that gives the…

Q: 71,000X6 x- 100 12

A: First take out, 78000 x 6/100= 4680

Q: 10. What are documentation types for internal control

A: Internal control documentation can take various forms, including flowcharts, policy and procedure…

Q: Bnmm

A: Accounting system refers to the set of the processes of accounting which is integrated with the…

Q: What is the cash impact from OWC during Year 2? If the change releases cash use a positive sign, if…

A: To calculate the change in Operating Working Capital (OWC) during Year 2, you need to consider…

Q: Identify the break-even point in the chart below: a. The yellow point b. None are the break-even…

A: The Break-even point is the level of sales at which Fixed Cost is equal to Contribution. In other…

Q: The force of interest delta(t) is given by 1/(1+2t) for all non-negative values of t. Find a(3).

A: The pace at which money grows instantly or over an incredibly short period of time is known as the…

Q: THE SMITH COMPANY Using the business transactions below, complete T-accounts for the Smith Company.…

A: T Accounts 1. Cash Account Particular Debit Particular Credit To capital A/c…

Q: Using the information below, compute the raw materials inventory turnover Raw materials used…

A: An inventory turnover ratio is a type of financial ratio that shows the efficiency of a company in…

Q: Question 25

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: section 1231 summary

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: 4- What's the problem with seasonality and what function is used to remove this problem?

A: Seasonality is defined as a pattern of demand that changes with the seasons. The most common form of…

Q: y"+4y'+4y=D0, y(0)=0, y'(O)=1

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Answer no.26 and 27 thank you

A: Cost recovery method: In construction contracts, revenues and expenses are recognized only when the…

Q: Item Classification 1. Sales taxes payable. 2. Pension liability (to be fully paid to retired…

A: Current liabilities are the obligations that are required to be paid of within a year. Whereas, long…

Q: pls hlp

A: Given, Market Price = $21

Q: Question 8

A: When net credit sales is divided with average accounts receivable it results in receivable turnover…

Q: In 4: 7: :16: 28, 7 and 16 ar a. Common factor. b. Mean terms.

A: Answer for the above question is option b

Q: What is the binary representation for 13 in decimal? a. 1110 b. 1111 c. 1100 d. 1101

A: Binary representation is a base 2 number system that uses two numbers 0 and 1 to represent a number.…

Q: Queston 14 yhd t 1. 12

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Explanation 1031 like-kind exchange

Q: 16. Training opportunities fall under which category of returns for work? O A. Total compensation O…

A: All forms of salary and perks are included in an employee's total compensation. In addition to basic…

Q: whats 1100+90

A: The question was a simple arithmetic problem that required adding two numbers together. In this…

Q: 1.02 1.02 1.02 1.02 7T-. .T 1.0200

A: Formula for PV calculation is given below:PV= CF/(1+i)^nBelow is the question asked which is till…

Q: Muscat securities exchange is a place where: 1. Equity shares are bought and sold 2. Forward…

A: Muscat securities exchange is the financial market which is established in order to develop the…

Q: . What does "ADR" stand for? (just the full name-no explanation needed)

A: There are many investors in the US who wants to invest in the companies that are outside US…

Q: Topic is Interests If A(t) = 100(1.1)t Find: a. i5 b. i10 Show complete solution with explanatio

Q: Accrual basis m

A: Accrual basis is a method of accounting under which income is recognized when earned and expense is…

Q: The correct answer is 9.1978 Please explain

A: The provided solution is correct. But the expert rounded the final answer to two decimals.

Q: provide a benefit of $30. In 5 years, there will be no salvage value for the equipment. T company's…

Q: For what values of x is f(x) NOI differentidue:

A: At x=1 the given function is NOT DIFFERENTIABLE. Because, at x=1 the value of the function is…

Q: r

A: To calculate the overall cost of capital for Humble Manufacturing, we need to calculate the cost of…

Q: Q u e s t i o n A . C a l c u l a t e t h e i n d i v i d u a l c o s t o f e a c h s…

A: Rd= (100+(50/10))/((950+1000)/2) Rd=105/975 =10.76% Cost of preference stock = 11% Cost of…

Q: An example of an appraisal cost would be: O Scrap O Process or product design O Product recalls O…

A: Cost of Good Quality is incurred in order to reduce the Cost of Poor Quality, so that overall Cost…

Q: Answer to Part C = 42250

A: Given, Maturity =10 Years Market interest rate: 6% Stated interest rate = 5% Price of the bond is…

Q: explain in details the scope, obectives

A: IAS / IFRS 33 deals with the calculation and presentation of earnings per share (EPS). It applies to…

Q: 11 keeps getting wrong, even I put 1.3

A: The ratio is the technique used by the prospective investor or an individual or strategist to read…

Q: Question 6 Listen Which of the following sets represent an intersection, union, subset, and com-…

A: From the Venn diagram :A contains: {2,3,5,7}B contains: {2,4,6,8,10}The universal set S contains:…

Q: Complete requirement 1

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: Section 1250 summary

A: Section 1250 of the United States Internal Revenue Code is a rule wherein IRS will tax a gain from…

Q: Based on the following information, what is the expected return? State of Economy Recession Normal…

A: In the given case, we have given the rate of return of each state of economy and their respective…

Q: E12.4

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Problem 9-12 (IAA)

A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: What is the value of (A/P, i, N) if (P/A, i, N) = 7.7721? a. 0.1287 b. 9.7151 c. 6.9949 d: 1.0000,…

A: (P/A,i,N) is the present worth of series of payment. Formula for present worth of series of payment…

Q: it say 1.33 is incorrect

Question

B Ltd purchased stock on 30 October 2022 for R138 000 (including VAT). Handling costs of R6 500 (excluding VAT) and transportation costs of
R4 025 (including VAT) were incurred? What will be the COST PRICE of the stock for taxation purposes?
OA R148 525
OB. R130 000
O C. R138 000
OD. R130 525

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction:

VIEW

Step 2: Determine the cost price of the stock for taxation purposes:

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Q.47 Using the repeatability assumption, what is the PW of Alternative Y? O. $22,436 O. $58,192 O. $7,740 O. $12,385 Q. 48 Using coterminated assumption, what is the FW of Alternative X? O. $12,385 O. $7.740 O. $22,436 O. $58,192 Q. 49 Using the coterminated assumption, what is the FW of Alternative Y? O. $22,436 O. $58,192 O. $12,385 O. $7,740 Q. 50 Which alternative is selected? O. Alternatíve X O. Alternative Y O. neither X nor Y is economically attractive O. X and Y are equally attractive
P10.5
7.Explain briefly on the misconception about Riba
8. Transform 2 into an improper fraction. 10 a. 28/5 b. 5/14 C. 14/5 d. 14/10
What is the difference between a Form 10–K and a Form 10–Q?
1 . S u p p o s e t h a t s o m e o n e s t o l e y o u r A T M c a r d a n d w i t h d r e w P 5 0 , 0 0 0 . 0 0 f r o m y o u r c h e c k i n g a c c o u n t . H o w m u c h m o n e y c o u l d y o u l o s e i f y o u r e p o r t e d t h e s t o l e n c a r d t o t h e b a n k : a ) T h e d a y t h e c a r d w a s st o l e n b ) 6 d a y s a f t e r t h e t h e f t c ) 7 5 d a y s a f t e r r e c e i v i n g y o u r p e r i o d i c s t a t e m e n t 2 . Y o u ' r e g e t t i n g m a r r i e d a n d a r e u n h a p p y w i t h y o u r p r e s e n t b a n k . D i s c u s s y o u r s t r a t e g y f o r c h o o s i n g a n e w b a n k a n d o p e n i n g a n a c c o u n t . C o n s i d e r t h e f a c t o r s t h a t a r e i m p o r t a n t t o y o u i n s e l e c t i n g a b a n k - s u c h a s t h e t y p e a n d o w n…
Only EX 13-11 please and thank you?
37. Choices: a. P7,092,000, P1,110,130, and P756,130 b. P9,616,000, P1,791,610, and P1,437,610 c. P9,616,000, P1,653,370, and P756,130 d. P9,104,000, P1,653,370, and P1,299,370
7-3 A
18 pts Multiple Functions 88 MULTIPLE CHOICE Question 2 ◄ Listen When f(x)=-3x-6 and g(x) = x²-x-6, what is ? A B C f 54 g = 3 fg = -3 x-3x=3 f 51 g = -2x+2; x=1
Kingcade Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours 18.3 Wait time Process time Move time Queue time 1. 1 Inspection time 0.1 2.0 9.1 The manufacturing cycle efficiency (MCE) was closest to: (Round your intermediate calculations to 1 decimal place.)
#11 only