Dreamer Company reported the "Receivables" account with a debit balance of P2,000,000 at year-end. The allowance for doubtful accounts had a credit balance of P50,000 on same date.

Q: What is Reg D?

A: Regulation D (Reg D): It may be a Securities and Exchange Commission (SEC) law confining exceptions…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: What is MM Proposition I?

A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

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A: Accounting: Accounting refers to the information system, where the economic activities of a…

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A: The term Unicorn in finance was popularized by Aileen Lee, a popular venture capitalist &…

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A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: WHat ia 2 plus 2

A: Answer:

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A: A collateralize mortgage obligation (CMO) refers to a type of mortgage-backed security that contains…

Q: w to calculate WAC

A: The weighted average cost of capital, commonly regarded as the WACC is the total cost of all the…

Q: what about quesitons E and F?

A: Work in progress (WIP) also called work in process, is inventory that has begun the manufacturing…

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A: In US, calculation as well as disclosure of Annual Percentage Rate is basically government by an act…

Q: Can you answer part E of this qu

A: Payroll taxes are defined as the amounts collected by the government or revenue collection authority…

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.