Balance Sheet as on 31 July, 2015 Particulars Amount Particulars Amount Capital 39960 Non- Current assets- Non Current Liabilities- Office Equipment 84000 Long Term Notes Payable Less: Accumulated 52000 (20000) Dep. 64000 Current Liabilities- Current Assets- Accounts payable 10000 Cash 34000 Interest Payable Salaries Payable 1000 Accounts Receivable 22000 7000 Office Supplies 2000 Unearned Consulting 15000 Prepaid Insurance 2960 Fees 129960 129960

Q: The answer is somewhat close. The correct answer is 6.8810.

A: Given: Value of call = $1.44 Strike price = $25.60 Value of shares = $20 Interest rate = 2.5%…

Q: What is full form of GAAP? Describe about it.

A: Generally Accepted Accounting Principles, are commonly known as GAAP

Q: What is IFRS 9, why do we use IFRS 9 and provide some example were do we use IFRS 9.

A: When a company becomes a participant in the contractual requirements of an instrument, IFRS 9…

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A: Intangible assets are non-physical assets that have no inherent value and cannot be touched or seen.…

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A: Reclassification is a journal entry which includes transfer from one general ledger to another. It…

Q: where do all of the nonseparately stated items go on the form 1065?where is the net of all those…

A: Form 1065 is an informational type of return need to be filed by the partnership to the IRS.IRS…

Q: get all answer

A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: What is simple interest

A: SOLUTION:   Simple interest is the method of calculating interest on a loan. It is calculated only…

Q: What do you mean by Count Data? When it arises?

A: Count data:  Count data is a kind of statistical data, in which the observations might only consider…

Q: I don't understand where the number 19.88798 comes from

A: In this question we are provided with the factor table. Hence we will have to use the values in the…

Q: What are some of the major requirements introduced by the Sarbanes-Oxley Act and the Cadbury Code

A: The Sarbanes-Oxley Act (SOX) and the Cadbury Code are both regulatory frameworks that aim to enhance…

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A: This question seems incomplete with a lot of missing information. I am trying my best to answer this…

Q: Discuss the key features of Section 302 of SOX.

A:

Q: Explanation 1031 like-kind exchange

A:

Q: what is iso9000:2015

A: 1) ISO 9000:2015 Ans) ISO 9000:2015 defines the concepts and phrases that relate to all efficiency…

Q: Please assist, the answer of 230292 is not correct.

A: Income Statement - Income Statement includes income earned and expenses incurred during the…

Q: Briefly discuss the main provisions of the SOX, and then explain Section 404 in detail.

A: SOX stands for Sarbanes-Oxley Act and it established protocols related to the assessment of internal…

Q: SE13-1, SE13-2, SE13-4 were answered in a previous question. Please look at SE13-4, SE13-5, SE13-6.

A: Since, you have specifically asked for 4, 5 and 6 part. So, we have solved the same for you.

Q: Explain two similarities and three differences between IFRS and US GAAP with respect to accounting…

A: Companies in the United States operate under the generally accepted accounting principles (GAAP),…

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A: Bad debt is calculated on the value of sales receivable during the period.Bad debt is an expense…

Q: 582068

A: Accumulation of total output Vat  shall consist of VAT on Sales made and excess tax paid on purchase…

Q: what formula did you use to calculate PVIFA?

A: The acronym PVIFA stands for the present value interest factor. The present value interest factor is…

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A: CDO is the abbreviation used for collateralized debt obligation. It is corporate based funanacial…

Q: Describe the ways and the extent to which IFRS are used around the world.

A:

Q: How to calculate the mark up

A: The markup is calculated with the following formula:

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A: Definition: PFRS 15 - Philippine Financial Reporting Standards. It includes Philippine Accounting…

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A: IAS-10 "Events after the reporting period" prescribes :-  (i) when an entity should adjust its…

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A: IFRS 16 and IAS 17 are accounting standards related with leases. On January 2016, IASB issued a…

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A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

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A: NYSE is the New York Stock Exchange.

Q: or working for NPV and EAA calculation?

A: EAA is calculated as shown below. EAA=NPV×r1-11+rnHere,Cost of capital/ WACC=rLife of project=n

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A: Carriage and Insurance Paid to is the full form of CIP

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A: Part a. WACC is defined as the calculation of the cost of capital of the company, where the each and…

Q: How are IFRS currently used in the United States?

A: International Financial Reporting Standards:   They are commonly known as IFRS. It is a set of…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.