Fill in the blanks:The beginning capital balance of BA Company is P1,280,000 while the ending capital balance is P1,520,000. During the year, the owner withdrew P210,000 for personal use. There was no additional investmentmade during the year. The Net Income for the year is< PreviousContinue > Question 7 of 101 PointFill in the blanks:If total liabilities amount to P2,196,000 which is 60% of the total assets, thenis the total assets of the business.( PreviousContinue >

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Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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See the explanation below to work the problem. XYZ Company, a 'for-profit' business, had revenues of $12 million in 2022. Expenses other than depreciation totaled 75 percent of revenues. XYZ Company, must pay taxes at a rate of 40 percent of pretax (operating) income. All revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash. Depreciation originally was $1.5 million; however, a change in the depreciation schedule (still within GAAP) has now made the depreciation expense DOUBLE. Based on this change in depreciation expense, what would XYZ's net income now be? Select one or more: a. so b. $3,000,000 c. $1,500,000 Od. Not enough information to tell
Bayelsa Corp. had the following transactions in the current year: Short term capital gain Short term capital loss Long term capital gain Long term capital loss If Bayelsa has taxable income of $70,000 before considering the capital transactions, what is Bayelsa's net capital loss that cannot be deducted in the current year? O SO $12,000 -$3,000 $5,000 -$16,000 O $19,000 net capital loss O $11,000 net capital loss O $2,000 net capital loss
Goose Corporation, a C corporation, incurs a net capital loss of $23,900 for 2021. It also has ordinary income of $19,120 in 2021. Goose had net capital gains of $4,780 in 2017 and $9,560 in 2020. If an amount is zero, enter "0". a. Determine the amount, if any, of the net capital loss of $23,900 that is deductible in 2021.$fill in the blank 1 _______ ? b. Determine the amount, if any, of the net capital loss of $23,900 that is carried forward to 2022.$fill in the blank 1 ______?
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Tired Company’s assets for the current year decreased by P135,000 while its liabilities increased by P25,000. During the year, the owner withdrew P12,000 and made additional investment of P17,000. How much is the net income (loss) for the year? (P165,000) (P105,000) (P115,000 (P110,000)
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The Warner Corporation has gross income of $560,000. It has business expenses of $325,000, a capital loss of $20,000, and $2,500 of interest income on temporary investments.
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Fill in the blanks: The beginning capital balance of BA Company is P1,280,000 while the ending capital balance is P1,520,000. During the year, the owner withdrew P210,000 for personal use. There was no additional investment made during the year. The Net Income for the year is