During the year ended 30 Jun 2022, Cecilia, a resident of Australia, has received rents of S50,000 and salary of $27799. She also receives a fully franked dividend of $30,000 from a Company that pays tax at the 30% tax rate Har allowable deductions for the year are $12977. Required Calculate her taxable income. Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line
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Question A
During the year ended 30 Jun 2022, Cecilia, a resident of Australia, has received rents of S50,000 and salary of $27799. She also receives a fully franked dividend of $30,000 from a Company that pays tax at the 30% tax rate Har allowable deductions for the year are $12977. Required Calculate her taxable income.
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We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line
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- Robert uses a portion of Eric's property in such a manner that he's five years away from adversely possessing the property. Eric sells his property to Kelsey. The effect on the possible adverse possession is: Question 1 options: it cancels the possible adverse possession claim nothing, but only if Robert has told Kelsey of the possible adverse possession of the property nothing, but only if Robert has told Kelsey of the possible adverse possession claim AND Eric consents it starts the running of the clock for adverse possession all over again nothingQuestion 16 What a party said when entering into a contract is a subjectíve fact. True False Question 17 Iggy and Jen sign a contract by which Iggy agrees to deliver and install a gas fireplace on October 15 in exchange for Jen's promise to pay the $500 price within ten days of the install date. The delivery and installation of the fireplace and the payment of the price are examples of conditions precedent. concurrent conditions. O conditions subsequent. O implied conditions.Loan interest income ▸ D7/84 O 。 The sequence in determining the taxability of interest income of an Fl: о . Consider s.14(1) first If not chargeable under s.14(1), then consider s.15(1)(i) Interpretation on s.15(1)(i): . (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interest 77
- The buyer and seller are scheduled to close the sales transaction on Wednesday, June 14. The taxes for the year were $3,500 and were paid in arrears. How would this appear on a closing statement? O A credit and debit to the seller. O A credit to the buyer and a debit to the seller. O A credit to the seller and a debit to the buver. • A credit and debit to the buyer.37. Reduce the required provision if some or all of the expenditure required to settle a provision is expected to be reimbursed by another party, when, and only when, it is probable that reimbursement will be received if the enterprise settles the obligation. Select one: True or False- QUESTION 1 Green Tea 4 Life Ltd has requested your help in preparing their financial statements as they are unsure of the requirements of NZ IFRS 16 Leases for lessees. You are provided with the following lease details: Green Tea 4 Life Ltd is the Commencement date Lease term Economic life of asset Interest expense SCF classification IDC incurred by the lessee Upfront payment due on the commencement date Fixed payments per annum at year end Ownership transfer at end of lease Lessee's incremental borrowing rate The depreciation method used by the lessee The relevant present value discount factors are: Present value of $1 in n periods Present value of an annuity -5 1-8% Lessee 1 April 2019 5 years 10 years CFOA $10000 $30 000 $200 000 No 8% Straight line 0.6806 3.9927 (i) Prepare the journal entry to initially recognise the ROU asset and lease liability, at the commencement date. (ii) Complete the lessee's table in the space provided. Determine the total interest expense that would be…
- Michael Jordan specially orders a 10 foot mattress from Sleepy's without a written agreement. This contract is not enforceable. 3. Explain your answer to question 2.Question 24:H5. Gabriella was in the business of purchasing sculptures from Brazil and selling them in Toronto at her boutique. On one consignment listed at $2,400, she received trade discounts of 9.00%, 7.00%, and 8.00%. The overhead expenses were 16.00% of her costs and she wanted to make a profit of 34.00% on cost. a. What is the regular selling price of the sculptures? b. Calculate the profit she will make if she decides to markdown the selling price by 16.00%. c. Calculate the maximum rate of markdown that she can offer so that she breaks even on the sale.
- Question 5 Catherine purchased a segregated fund 12 years ago with a 10-year maturity and death benefit guarantee. She has conducted no transactions since then, and when she looks at her annual statement, she realizes that the market value of her fund is higher than the guarantee. She starts checking her annual statements of previous years and realizes for the first time that the market value in the 10th year was below the guarantee to which she was entitled. Is Catherine entitled to the guarantee top-up for the 10th year of the contract? a) Yes, it was automatically deposited in her account b) Yes, but it will be paid only on expiration of the contract c) No, because it's too late to claim d) No, there was no disposition to this effect.D7/84 ◦ The sequence in determining the taxability of interest income of an FI: Consider s.14(1) first If not chargeable under s.14(1), then consider s.15(1)(i) ◦ Interpretation on s.15(1)(i): (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interest It is talking about Hong Tax, Special Business, Calculating profit tax of financial instituition, loan interest income. Can you explain above paragraph in a simple way and with simple example?Exercise 7-1 (Algo) Accounts receivable subsidiary ledger; schedule of accounts receivable LO C1 Vail Company recorded the following transactions during November. Date General Journal Debit Credit November 5 Accounts Receivable-Ski Shop 4,168 Sales 4,168 November 10 Accounts Receivable-Welcome Incorporated Sales 2,745 2,745 November 13 Accounts Receivable-Zia Company 1,610 Sales 1,610 November 21 Sales Returns and Allowances 415 November 30 Accounts Receivable-Zia Company Accounts Receivable-Ski Shop 415 5,723 Sales 5,723 1. Post these entries to both the general ledger accounts and the accounts receivable ledger subsidiary ledger accounts. 2. Prepare a schedule of accounts receivable Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2