ii. operue Land in Spain (with P1M unpaid mortgage) P2,000,000; Land in Batangas, Philippines 500,000; Franchise in Switzerland 100,000; Receivable from debtor in Philippines 70,000; Receivable from debtor in Switzerland 100,000; Bank deposits in Switzerland 80,000; Shares of stocks of ABS-CBN (listed), Philippines 75,000; Shares of stocks of RPH, foreign corporation 80% of the business in the Philippines 125,000; Other personal properties 300,000; Zonal value of the land in Batangas 750,000. i. If the decedent is a non-resident citizen, his gross estate is iv. ut estate tax matters. If the decedent is a non-resident alien without reciprocity, his gross estate is If the decedent is a non-resident alien with reciprocity, his gross estate is Assuming the ABS-CBN shares are not listed, and there are 1,000 shares at the time of death, ABC-CBN's outstanding shares were 10,000 shares. Its retained earnings were P2,000,000, par value per share was P50. The gross estate should show the said shares at

ii. operue Land in Spain (with P1M unpaid mortgage) P2,000,000; Land in Batangas, Philippines 500,000; Franchise in Switzerland 100,000; Receivable from debtor in Philippines 70,000; Receivable from debtor in Switzerland 100,000; Bank deposits in Switzerland 80,000; Shares of stocks of ABS-CBN (listed), Philippines 75,000; Shares of stocks of RPH, foreign corporation 80% of the business in the Philippines 125,000; Other personal properties 300,000; Zonal value of the land in Batangas 750,000. i. If the decedent is a non-resident citizen, his gross estate is iv. ut estate tax matters. If the decedent is a non-resident alien without reciprocity, his gross estate is If the decedent is a non-resident alien with reciprocity, his gross estate is Assuming the ABS-CBN shares are not listed, and there are 1,000 shares at the time of death, ABC-CBN's outstanding shares were 10,000 shares. Its retained earnings were P2,000,000, par value per share was P50. The gross estate should show the said shares at

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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Certain balance sheet accounts of a foreign subsidiary of Orchid Company have been stated in U.S. dollars as follows: Stated at Current Rates Historical Rates Accounts receivable, current $ 155,000 $ 175,000 Accounts receivable, long term 108,000 115,000 Land 54,000 59,000 Patents 83,000 88,000 $ 400,000 $ 437,000 This subsidiary’s functional currency is the U.S. dollar. What total should Orchid’s balance sheet include for the preceding items?
13-An Omani establishment has drawn an invoice of RO 5,400 on account of a foreign sub-contractor. The amount payable to a foreign sub-contractor is RO 5,400. The WHT (Withholding Tax) is Payable @ 10%. Which one of the following is WHT as per Oman tax laws? a. RO 6,600 O b. None of the options O c. RO 6,000 O d. RO 600
KF1. Exquisite Jewelers has purchased 100 pounds of silver from Silver Mines Ltd. at US$8,000 per pound payable in one year. The current spot exchange rate is 1.6295 (C$/US$) and the one year forward rate, quoted by the company’s bank, is 1.6312. The Financial Controller at Fine Jewelers suggests that the spot rate in one year will be 1.6224. Interest rates in Canada are currently 3.9 percent for one year and 3.7 percent in the United States. Required: a) Outline, with calculations, three alternative actions available to Golden Jewelers to handle its foreign exchange exposure. b) Advise the company which alternative they should take, providing the reason for your recommendation
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2. Please help me to answer this with solution. thank you
B1.
How could the acquisition of a Moldovan company by a US company for 5 million dollars in 2018 and annual profits from the US investment in Moldova at 145.000 $ in 2019 be recorded in the balance payments in Moldova and the USA in 2018 and 2019 ?
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Please help me with this question: IrishCo, a manufacturing corporation resident in Ireland, distributes products through a U.S. office. Current-year taxable income from such sales in the United States is $12,000,000. IrishCo's U.S. office deposits working capital funds in short-term certificates of deposit with U.S. banks. Current-year interest income from these deposits is $150,000. IrishCo also invests in U.S. securities traded on the New York Stock Exchange. This investing is done by the home office. For the current year, IrishCo has realized capital gains of $300,000 and dividend income of $50,000 from these stock investments. Compute IrishCo's U.S. tax liability, assuming that the U.S.-Ireland income tax treaty reduces withholding on dividends to 15% and on interest to 5%. Assume a 21% U.S. tax rate. IrishCo's U.S. tax liability is $
Example 2: Pepsi Refreshment Company is Omani affiliate of US Refreshment Company. Its balance sheet at year end is shown below: Balance Sheet Assets Amounts in OMR Liabilities Amounts in OMR Cash 10000 Accounts payable 6000 Accounts receivables 22000 Long-term debts 16000 Inventory 32000 Capital Stock 62000 Plant and Equipment 20000   Total 84000 Total 84000 The current exchange rate is USD 2.5900/OMR The historical exchange rate is USD 2.6074/OMR Requirement: Translate the balance sheet into US dollars by using the current rate method and temporal method.
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Robert purchased US$10,000 from a bank in America, which charged her a commission of 0.8%, and sold the US dollars to a bank in Canada, which charged her a 0.24% commission. How much money did she lose or gain? Assume that the exchange rate was C$1 = US$0.8993. C$ Round to the nearest cent Answer as positive is there was a gain, and negative if there was a loss 0.00