Profits that have been subjected to IAET will be liable to dividend tax when they are eventually declared as dividends. True and false statements

Q: Assume the following taxpayer information: The taxpayer is a South African manufacturing company…

A: particulars Amount Amount Sale Proceeds   560000  Lower of cost price or Sale proceeds 230000…

Q: Prepare the entry to record the issuance of the bonds. (Credit account titles are automatically…

A: The bonds have been issued at a discount. Hence the discount on the issue of shares will be…

Q: State the different types of accounting.

A: Lets understand the basics. Accounting is a recording of transaction and event in books of account.…

Q: Question 39 If the selling price per unit is $10, the unit contribution margin is $5, and total…

A: Introduction: Break even units: It tells the sales level where there is no profit nor loss to the…

Q: Roger takes out a $500,000 mortgage in January 23021 to purchase a primary residence with a fair…

A: Income interest is a borrowing expenditure that may be deducted from taxable income by filing a…

Q: Explain the process of depreciation.

A: The depreciation is charged on fixed assets by the business to expense the value of fixed assets…

Q: Wilhelm has just completed his PhD. Although, he was in the workforce several years ago, Wilhelm…

A: Here discuss about the details of the most tax effective strategies which are used for Wilhelm for…

Q: Huron Corporation generated total sales of $10,000,000 during the year with 80% representing credit…

A: The allowance for doubtful accounts is the contra assets account which is maintained to record…

Q: You have your choice of two investment accounts. Investment A is a 6-year annuity that features…

A: Solution:- Given, Invest A is a 6-year annuity that features end-of-month = $3,000 Investment A -…

Q: A company reports the following income statement and balance sheet information for current year: Net…

A: Formula: Return on Total Assets = [ ( Net income + interest expense ) / Average Total Assets ] x 100

Q: Explain the principle of matching and realisation

A: Accounting principal or standards are the principles and rules that organizations should follow when…

Q: Dickonson Products is a division of a major corporation. The following data are for the last year of…

A: Given data:

Q: eginning alances: ssets abilities nding alances ssets abilities uring the year: Net income / et loss…

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.…

Q: Iakisthike, LLC has two lines of products, Regular and Super, and is thinking about discontinuing…

A: Total fixed manufacturing cost = [$140,000 - (7,000 x $18)] + [$375,000 - (3,000 x $109)] = $62,000…

Q: If the selling price per unit is $50, the variable expense per unit is $20, and total fixed expenses…

A: Formula used: Break even sales dollars = Break even sales units x Sales price per unit

Q: calculate gross earnings, cpp contribution, ei premium, federal income tax, provincial income tax…

A: The components of CPP contribution, ei premium, federal income tax, and provincial income tax will…

Q: The Beacon Hills High School entered into a contract with Beacon Printing Services which stipulates…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: the balance sheet shows that equity has increased significantly in 2021. Your task is to explain…

A: A balance sheet of an entity refers to the financial statement that reports an entity's assets,…

Q: ABC Corp purchased land and building at a lump price of P6M. ABC demolished the building and…

A: The lump sum cost is allocated to assets on the basis of their fair value.

Q: A certain machine has a first cost of 30,000; annual costs of 6,000; a salvage value of 4,000 and a…

A: Depreciation:   It is the reduction in the value of the asset over the period. This includes normal…

Q: In a partnership, distinguish between the goodwill and bonus methods

A: Partnership: It is a form of business where two or more persons are joined together to conduct the…

Q: Given the following balances, what is the most appropriate level of planning materiality for the 30…

A: The auditor will determine the amount that constitutes materiality in the planning phase of the…

Q: Increase (Decrease) (Decrease) Cash $79,000 Accounts Payable $(51,000) Accounts Receivable (net)…

A: Changes in stockholders equity can be found out by subtracting the change in assets with change in…

Q: ound solutions to part (1), part (2), and part (3). SOLUTION REQUIRED: PART (4) - Prepare a March…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: You have just purchased new goods worth 10,000 EUR from your supplier. Your supplier offers you to…

A: whenever the goods are supplied by the supplier the credit policy and the agreement is done by the…

Q: Division A makes a part that it sells to customers outside of the company. Data concerning this part…

A: Introduction: A transfer value is the sum charged by one division of the a company to another…

Q: Eplain why a contract existed between your mother and Jewel on June 7, 2022?

A:

Q: An insurance company is offering a new policy to its customers. Typically, the policy is bought by a…

A: Introduction: A value policy is one in which the amount payable for a dispute is determined upon at…

Q: Jim Overstreet, inventory control manager for Itex, receives wheel bearings from Wheel-Rite, a small…

A: Economic Order Quantity- The EOQ model is used when demand for goods and services remains constant…

Q: Corny and Sweet grows and sells sweet corn at its roadside produce stand. The selling price per…

A: Lets understand the basics. Break even point is a point at which no profit no loss condition arise.…

Q: Romeo Masigasig is an event planner. The transactions that he had in his business were: 1. He…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: Case E: Normal loss of 5,000 units during process.…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Explain certified public accountant (CPA).

A: Accountant refers to the professional who performs the accounting functions like financial statement…

Q: The effective semiannual interest rate for a monthly interest rate of 2%

A: Every business needs funds for the business. Funds can be arranged internally or from external…

Q: Using the MACRS three-year table, how much will a $1,000 cell phone be worth after 2 years (the book…

A: Answer:-  MACRS meaning:- MACRS is the acronym of the the modified accelerated cost recovery system.…

Q: Accounting and business management are two distinct disciplines

A: MEANING OF BUSINESS ADMINISTRATION AND ACCOUNTANCY - ACCOUNTANCY IS A FIELD OF STUDY AND A…

Q: Home Repair Company, a regional hardware chain that specializes in “do-it-yourself” materials and…

A: Free cash flows are the cash flows of the company after paying of all the necessary expenses to keep…

Q: Required Provide the necessary journal entries to correct BSW's accounts in 2019 and 2020

A: In 2019, there is the requirement to put one journal entry to record promissory note which BSW has…

Q: Net income Preferred dividends Average stockholders' equity Average common stockholders' equity…

A: Return on stockholders' equity (ROE): ROE measures the profitability of the company. It is…

Q: What are operating expenses?

A: Expenses refers to the money outflow or the assets outflow to another company or to individual…

Q: A company anticipates a taxable cash expense of $80,000 in year 2 of a project. The company's tax…

A: Cash expense $80,000   Less: Tax benefit ($80,000 x 30%) $24,000   Net cash expense $56,000

Q: Define the term cash flows.

A: The cash flow statement is prepared to record the cash flow from various activities of the business.

Q: he amount of labor hours available to Actaltz, SRL in the production of products X and Y amount to…

A: Contribution Margin is the difference between Selling  Price Variable Cost per unit. Detailed…

Q: Explain generally accepted accounting principles (GAAPs).

A: GAAP stands for Generally accepted principles.

Q: depreciation would be calculated immediately. Greymare’s borrowing rate is 12%. Assume this is a…

A: Assuming depreciation is on straight line basis. Each year depreciation would be (83000/8) $10375 If…

Q: 1. Common Size Income Statement a. How are the ratios computed? b. How are the ratios in the…

A: * As per Bartleby policy, if multiple different questions are asked then answer first only Common…

Q: Case G: Dept. B Dept C 3,000 u. ………………………………….. 20% In process, beg........ Stage of completion…

A:

Q: Different FIFO inventory assumptions: Beginning inventory of 10 units @ $5 = $50 Purchases month…

A: Introduction: Under FIFO inventory method, goods which have come first will be available for sell…

Q: What are the ethical and legal implications of using accounting practices such as the book-and-hold…

A: Accounting practices refers to the processes as well as activity of reporting the daily financial…

Q: Corny and Sweet grows and sells sweet corn at its roadside produce stand. The selling price per…

A: The break even sales units are calculated as fixed cost divided by contribution margin per unit.