Computers For All Sdn BhdTax computation for YA2021RM'000ss.4(a) BusinessincomeProfit before taxAdjustments:DepreciationTheft of stockInventory written offCompensationDividend income Income tax ratesResident companyPaid up ordinary share capitalRM2,500,000or less andgross incomeRM 50,000,000or lessMore thanRM2,500,000Year of assessment 2020On the first RM600,000On the remainder17%24%24%24%Non-residentsCompany24%Individual30%Capital allowancesInitial Rate %Annual Rate %Industrial buildingsIndustrial buildings – employees' quartersPlant and machinery – generalMotor vehicles and heavy machineryComputers, information technologyequipment and computer softwareOffice equipment, furniture and fittings104032014202020202010

Tax is a charge which is levied on the taxable income by the government and the tax amount has to be…

Answered: Income tax rates Resident company Paid…

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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Capital 1 January 2019 350 000Drawings 20 000Sales (70% on credit) 950 000Gross profit 250 000Total expenses 80 000Bank favourable 26 000Net profit 74 000Trade creditors 26 000Property, plant and equipment 350 000Fixed deposit 20 000Inventory 72 000Trade Debtors 80 000Mortgage Loan 100 000 Additional InformationThe opening balance of the inventory, debtors and creditors was R50 000, R60 000 and R30 000respectively. Assume a 365 day year. Calculate the following ratios and explain what each ratio means in relation to theindustry average given in brackets. Show your calculations as marks will be awardedfor these. Round off to 2 decimal places. Q.2.1.3 Average creditors settlement period (60 days). Assume purchases are equalto cost of sales and 60% of all purchases are on credit. Q.2.2 Discuss how the solvency ratio is calculated and what is measured by this ratio. Please help with the both questions mentioned
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The interest on share capital and patronage refund was decided by the BODs to be 50-50. How much will be allocated for the Interest on Share Capital?
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $52,800 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 5,500 units, 70% completed 60,885 30 Direct materials, 50,000 units 465,000 525,885 30 Direct labor 46,910 572,795 30 Factory overhead 64,784 637,579 30 Goods finished, 2 units 30 Bal., 4,400 units, 80% completed Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. b. Cost of units transferred to the next department during November. c. Cost…
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019Sales $ 11,000 $ 10,000Operating costs excluding depreciation 9,618 8,730Depreciation and amortization 370 330 Earnings before interest and taxes $ 1,012 $ 940Less interest 280 200 Pre-tax income $ 732 $ 740Taxes (25%) 183 185Net income available to common stockholders $ 549 $ 555Common dividends $ 204 $ 200Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019AssetsCash $ 650 $ 600Short-term investments 230 200Accounts receivable 2,750 2,500Inventories 1,250 1,200 Total current assets $ 4,880 $ 4,500Net plant and equipment 3,750 3,500Total assets $ 8,630…
Assume the company is operating at 85%capacity. The company pays out in dividends 60% of its net income and moves 40% of its net income into retained earnings. ASSETS 2020 2019 CASH AND MARKETABLE SECURITIES ACCOUNTS RECEIVABLE INVENTORIES 29,000 25,000 116,000 100,000 145,000 125,000 290,000 250,000 362,000 350,000 130,000 100,000 232,000 250,000 TOTAL ASSETS 522,000 500,000 CURRENT ASSETS GROSS PLANT AND EQUIPMENT LESS: ACCUMULATED DEPRECIATION NET FIXED ASSETS LIABILİTIES AND EQUITY ACCOUNTS PAYABLE ACCRURALS NOTES PAYABLE 90,480 34,800 25,420 CURRENT LAIBILITIES 150,700 142,000 145,000 140,000 TOTAL LIABILITIES 295,700 282,000 150,000 150,000 76,300 78,000 30,000 34,000 LONG TERM DEBT COMMON STOCK ($1.00 par). RETAINED EARNINGS 68,000 TOTAL OWNER'S EQUITY 226,300 218,000 TOTAL LIABILITIES AND EQUITY 522,000 500,000| INCOME STATEMENT 2020 2019 NET REVENUES & SALES (100,000 UNITS) COST OF GOODS SOLD GROSS PROFIT FIXED OPERATING EXPENSES (pre depreciation) EBITDA Earnings before…
Pacquired a 70% of S on January 1, 2020, for S380,000. During 2020 S had a net income of $30,000 and paid a cash dividend of $10,000. Applying the cost method would give a balance in the Investment account at the end of 2020 of: Select one: $394,000 $400,000 O $380,000 $373,000
Years Revenue Cash Expense Book Depreciation Book Income Pre-Tax Book Tax at 32% After Tax Book Income Financial Measures Profit Margin % Net Assets ROA % Cashflow Revenue Cash Expense Tax Depreciation Pretax Income Tax at 32% After Tax Income After Tax Cashflow Cumulative Cashflow Payback Period Present Worth 10 PW12 PW15 IRR PV Index(15) Facility Cost Income Tax Rate 0 C. -9.5 d. -12.4 $ 100,000.00 2.2 Years 91740.92679 0.395702526 1 0.684350818 $ 100,000.00 32% $30,000.00 $100,000.00 $120,000.00 $140,000.00 $150,000.00 $150,000.00 $50,000.00 $60,000.00 $70,000.00 $75,000.00 $75,000.00 2 $20,000.00 $20,000.00 $20,000.00 $20,000.00 $20,000.00 $0.20 $20,400.00 $27,200.00 $0.26 $9,600.00 $12,800.00 $16,000.00 $17,600.00 $17,600.00 $20,400.00 ($100,000.00) $40,400.00 $51,040.00 ($100,000.00) -$59,600.00 -$8,560.00 $40,000.00 $50,000.00 $55,000.00 $55,000.00 $0.23 3 $0.45 $36,727.27 $80,000.00 $60,000.00 $40,000.00 $20,000.00 $0.85 $1.87 4 $19,040.00 5 $34,000.00 $37,400.00 $0.24…
QUESTION ONE The following financial information relates to Sporty Limited. Statement of Financial Position as at 31 December 2018 and 2019 Ordinary share capital Retained earnings Property, plant and equipment Investments Debentures 12.5% Inventory Trade debtors Prepaid expenses Trade creditors Bank overdraft SARS (income tax) Shareholders for dividends Profit before interest and tax Depreciation on equipment Dividends received on investments Interest on dividends Income tax Page 2 of 6 2019 R 400 000 55 000 230 000 165 000 20 000 124 000 37 000 Statement of comprehensive income for the year 31 December 2019 Note no. 1 for the year ended 31 December 2018 and 2019 Property, plant and equipment Land and building at cost Equipment at carrying value 25 000 21 000 5 000 30 000 Statement of changes in equity for the year ended 31 December 2019 Dividends on ordinary shares 2019 (R) 200 000 30 000 230 000 R R 295 000 5 000 195 000 110 000 2018 60 000 120 000 28 500 1 500 42 500 25 000 R 60…
selected data for 2020: Retained Eamings, January 1, 2020 $900,000 Net Income 88,200 Stock dividends declared 14,280 During the year, the company changed its inventory method from FIFO to LIFO which had resulted in a net of tax 11,000 decrease in income Cash dividends declared 21,000 During 2020, the company discovered that the 2019 10,000 depreciation expense were overstated by a pretax amount of Tax rate 30% Based on the data above, Retained Earnings at December 31, 2020 was: * $951,920 $952,220 $948,920
Residual Income Valuation Method Suppose that BKE has the following: Year +1 Year +2 Year +3 Year +4 Year +5 Year +6 Common shareholders' equity at beginning of year $ 4,223.13 $4,557.87 $ 4,683.21 $ 4,802.33 $ 5,001.22 $ 5,503.76 Comprehensive income available for common shareholders 1,668.76 $1,717.54 $ 1,902.22 $ 1,988.34 $ 2,003.45 Their required rate of return is 9.25% Their long run growth rate is 4.20% They have 750 M shares of stock. Market Based Valuation Methods Suppose that BKE has the following: BKE Price $ 87.21 Number of shares (K) 64,575 Book value of equity K$ 588,324 EPS 6.75

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