osidiary for 2021?b. P6,000P5,000d. P6,100с.3. Phantom Corp. has a 70% interest in the outstanding shares of ShalomCo. On January 1, 2022, Shalom Co. sold to Phantom a machinery forP360,000. The machinery was acquired by Shalom four years ago atP500,000, estimated life of 10 years. In 2022, Phantom and Shalomreported net income of P500,000 (cost method) and P200,000,respectively.amounted to P50,000.Dividends declared and paid by Shalom in 2022Determine the consolidated net income for 2022.a. P525,000b.P611,000c. P615,000d. P570,000ntrolling interest in net income in 2022?

In the context of given problem, the following adjustments are required to be made with the net…

Answered: Determine the consolidated net income…

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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ements What is the total Wealth Accumulation of the following investment assuming the available after tax reinvestment rate is 5%? IRR 10.70% O $4,690,000 O $4,821,078 O $4,848,844 $4,905.989 n 0 $ 1 S 2 $ 3 $ AS 5 $ Investment $ (3,000,000) 240,000 250,000 260,000 266,000 3,674,000
What's the forecasted capital expenditure based on the information below? -Net PP&E beginning of period = 4200-Net PP&E end of period = 6800-Depreciation expenses = 900 a. 5900b. 1700c. 3500d. 2600
16. What would income property be valued at if it had $50,000 annual gross income with 40% expense ratio and the agent uses 10% capitalization rate? A. $300,000 B. $200,000 C. $250,000 D. $500,000
2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 ernment Budget Fiscal Policy FILL IN THE BLANK UNIT TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% D) The average tax rate for someone making $120,000. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).
Please show work in Excel.
Calculate the change in Working Capital given the following: 2021 2020 A/R 240 A/P 185 A/R 255 A/P 165 INV 210 Int/P 145 INV 225 Int/P 155 W/C 2021 W/C 2020 Change in Working Capital =
how did you get these numbers ? Year 2022: Weighted-Average accumulated expenditure Date Amount Capitalization period Weighted Average Accumulated Expenditures 1-Jan-22 $8,100,000 9/9 $8,100,000 31-Jan-22 $450,000 8/9 $400,000 30-Apr-22 $783,000 5/9 $435,000 31-Aug-22 $1,080,000 1/9 $120,000 Total $10,413,000 $9,055,000
QUESTION 6 Ottawa Corporation has accounting income for the year ended October 31, 2020 of $76,000. Included in this calculation are the following amounts: Meals and entertainment expenses Amortization and depreciation Landscaping costs Dividend from Canadian subsidiary Charitable donations $38,000 69,000 32,000 52,000 2,500 You have correctly determined CCA to be $61,000. What are the correct amounts for first, Net Income for Tax Purposes, and second, Taxable Income? O A. Net Income for Tax Purposes - $21,500; Taxable Income $19,000. O B. Net Income for Tax Purposes - $103,000; Taxable Income $51,000. OC. Net Income for Tax Purposes - $105,500; Taxable Income $51,000. O D. Net Income for Tax Purposes - $73,500, Taxable Income - $19,000,
Hardev
2) Calculate the change in Working Capital given the following: 2021 2020 A/R 240 A/P 185 A/R 255 A/P 165 INV 210 Int/P 145 INV 225 Int/P 155 W/C 2021 W/C 2020 Change in Working Capital =
EB12. LO 5.3 Using the following Balance Sheet summary information, calculate for the two years presented: A. working capital B. current ratio Current assets Current liabilities 12/31/2018 $366,500 120,000 12/31/2019 $132,000 141,500
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Determine the consolidated net income for 2022. a. P525,000 b. P611,000 c. P615,000 d. P570,000