Philippines - P700,000Foreign - 400,000Expenses:Philippines - 380,000Foreign - 220,000Compute for the income tax due assuming the individual tax payer is a Non-resident citizen/Resident alien/Non-resident alien engaged in trade/business.O P55,000O P17,500O P105,000O Tax exemptO P14,000

Answer: The taxes of Philippines tax non resident alien only for the income that is earned in…

Answered: Philippines - P700,000 Foreign -…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

For the year ended 31 March 2021, Manchester Ple had total domestic and foreign credit sales of £40 million. The cost of these credit sales was £2o million. Trade payables are associated with domestic and international suppliers. The current assets and liabilities of Manchester Ple as of March 2021 are summarised as follows: cooo co00 Inventory 5,000 Trade Receivablesf6,000 Current Assets 11.000 Trade Payables 2.000 Overdraft 4.000 Current Liabilities 6,000 Net current assets 5,000 For the year ended 31 March 2022, Manchester Ple predicts that the cost of sales would decline to 60% of sales, and the credit sales would still be at £40 million. The company expects current assets to comprise of inventory and trade receivables, and current liabilities to comprise of trade payables and the company's overdraft. Manchester Ple expects to achieve the following target working capital ratio values for the year ended 31 March 2022: Trade receivables days: 70 Trade payables days: 50 Inventory…
Refer to the table at right. The current account balance is $1,000 - 15 Exports of goods Net unilateral transfers O A. $170. Imports of services - 590 В. - $45. Official transactions 60 Capital coming into U.S. Imports of goods Exports of services U.S. capital going abroad 400 С. $155. - 665 D. $140. 410 - 600
VAT = 12%, Philippines is the country
What is $31.54 U.S. Dollars in Canadian Dollars? ($1 U.S. Dollar = $1.32 Canadian Dollars)
What is the External PPP of 33876 OMR at Kuwait, if price level in Kuwait is 10,000 KWD and exchange rate is: 0.75 KWD / OMR? Select one: a. 4.517 b. 1.270 c. 2.541 d. 55168.000
Problem 9-24 (Algo) (LO 9-2) On December 20, 2020, Momeier Company (a U.S.-based company) sold parts to a foreign customer at a price of 145,000 rials. Payment is received on January 10, 2021. Currency exchange rates are as follows: Date December 20, 2020 December 31, 2020 January 10, 2021 U.S. Dollar per Rial $ a. The rial receivable exchange b. The rial receivable exchange 1.24 1.21 1.17 a. How does the fluctuation in the U.S. dollar per rial exchange rate affect Momeier's 2020 income statement? b. How does the fluctuation in the U.S. dollar per rial exchange rate affect Momeier's 2021 income statement? in U.S. dollar value, resulting in a foreign of in 2020. in U.S. dollar value, resulting in a foreign of in 2021
Required information McCarthy, Inc.'s Brazilian subsidiary borrowed 115,000 euros on January 1, 2017. Exchange rates between the Brazilian real (BRL) and euro (€) and between the U.S. dollar ($) and BRL are as follows: US$ per BRL $ 0.28 $ 0.25 $ 0.20 BRL per €. BŘL 4.20 January 1, 2017 Average, 2017 December 31, 2017 BRL 4.30 BRL 4.60 05 a017
17 The USDSGD (Singapore dollar) spot rate is 1.60, the USDCAD spot rate is 1.33 and CADSGD 1.15. Determine the triangular arbitrage profit that is possible if you have $1,000,000. a. $46,093 profit b. $46,093 lost c. $44,063 profit d. No profit is possible
The U.S Company, In the month of January 15 sold machinery on account to a retailer Australia. The invoice price was 250,000 US dollars and the exchange rate for the Australia dollar was $0.576. Select one:a. Cash A/c Dr 144,000$Sales A/c Cr 144,000$b. Cash A/c Dr 250,000$Sales A/c Cr 250,000$c. Accounts Receivable 250,000$ Sales 250,000$ d. Accounts receivable A/c Dr 144,000$Sales A/c Cr 144,000$
Ch. 31. Absolute Purchasing Power Parity. A ski resort hotel room in Switzerland costs SF373. A ski resort hotel room in Colorado costs $342. Assuming the slopes and hotel rooms are identical, what is the Swiss franc/U.S. dollar exchange rate? Round to four places past the decimal point and format as "X.XXXX"
22 - The export rate for which 30000 dollars of dry pulses were exported to the foreign German company BBN in the form of payment against goods is 1 dollar = 5.60 TL. However, the pulses were noticed to be moist and were returned. Registration to be made?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 01 ABROAD BUYER 168000 610 01 RETURNED GOODS 168 000B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 610 01 RETURNED GOODS 168000 120 01 ABROAD BUYER 168000 C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 612 01 OTHER DISCOUNTS 168000 120 01 ABROAD BUYER 168000 D) THE CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 601 01 ABROAD GOODS SALES 168000 610 01 RETURNED GOODS 168000 E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 689 OTHER EXTRAORDINARY GO. LOSS 168000 120 01 ABROAD BUYER 168000
17- Assume that a country estimates its M1 money supply at $20 million. A broader measure of the money supply, M2, is $50 million. The country's gross domestic product is $100 million. Production or real output for the country is 500,000 units or products. a. Determine the velocity of money based on the M1 money supply. b. Determine the velocity of money based on the M2 money supply. c. Determine the average price for the real output.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Philippines - P700,000 Foreign - 400,000 Expenses: Philippines - 380,000 Foreign - 220,000 %3D