King Company has assets of $70,000 and liabilities of $25,000. What is the amount of King's claims?
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- How much claim against the insolvent person is deductible from the gross estate?Amount of claim against the debtor, P500,000Total assets of the debtor, P5,000,000Total liabilities of the debtor, P8,000,000Sotb Industries has a net income of $600,000 and an unrealized loss on available-for-sale securities (net of tax) of $9,000. What is the other comprehensive income(OCI)? HelpNEED help with this Question
- Sotb Industries has a net income of $600,000 and an unrealized loss on available-for-sale securities (net of tax) of $9,000. What is the other comprehensive income(OCI)?Coline has the following capital gain and loss transactions for 2021. a. Short-term capital gain $7,900 b. Short-term capital loss (3,318) c. Long-term capital gain (28%) 9,480 d. Long-term capital gain (15%) 3,160 e. Long-term capital loss (28%) (16,590) After the capital gain and loss netting process, what is the amount and character of Coline's gain or loss?Coline has an overall net short-term capital gain of $ .Uramilaben
- What is the taxable income of this financial accounting question?HardevA Corp., a domestic corporation, has the following data in 2022:Gross receipts from services, P800,000Cost of services, P200,000Long term capital gain, P15,000Short term capital loss, P5,000Dividend from a domestic corporation, P15,000Interest income from bank deposits, P10,000Operating expenses, P120,000Compute the optional standard deduction. a. P366,000 b. P364,500 c. P280,000 d. P244,000
