Chapter 1, Problem 1.17E

Use the following table of government officers travelling and mileage allowance to answer the question Travel Allowance and Mileage: Government Government Post Annual Travel Allowance Mileage Genuine travelling officers $457,920 $36 per km Genuine travelling officers (no mileage) $569,635 Not applicable Supervisors $335,167 $36 per km Casual miles (mileage without travelling allowances) Not applicable $43 per km Commuted $311,040 Not applicable   Lisa Chapelle made 2 site visits, 750 km each, in the month of May. In between site visits, she picked up her son at the day care which amounted to 200 km. What would be her casual travelling allowance for May? A.      $32,250 B.      $40,850 C.      $73,100 D.      $64,500

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Who is the head of the Inland Revenue Department in Trinidad and Tobago? A.      Chairman Board of Inland Revenue B.      General Manager of the Revenue Centre C.      Commissioner General of Inland Revenue D.      Comptroller of Inland revenue

Use the Motor Vehicle Taxable Benefit table below to answer questions 16 and 17. Motor  Vehicles: Annual Taxable Benefit Original cost of motor vehicle Age of MV – up to 5 years old Age of MV – Over 5 years old   (up to 50% private use) (over 50% private use) (up to 50% private use) (over 50% private use) Up to $300,000 $40,000 $48,000 $30,000 $36,000 Up to $700,000 $50,000 $60,000 $40,000 $48,000 Up to $1,000,000 $75,000 $80,000 $60,000 $65,000 Up to $1,500,000 $90,000 $100,000 $72,000 $80,000 Over $1,500,000 $120,000 $140,000 $98,000 $100,00   Melissa Hines earned an annual salary of $1,050,000 and her employer paid $50,000 per month to an independent landlord for rental of her apartment. She was given a company vehicle that was bought 8 years earlier for $1,100,000. It is estimated that Ms. Hines private usage of the vehicle is 40%. What would be her total emoluments for the year? A.…

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Predetermined overhead rate for the next period should be?

Subject: financial accounting question

1. Allocate the joint cost to the Detergent and the Softener using the following:a. Sales value at split-off method b. NRV method 2. Should Carichem have processed each of the products further? What effect does theallocation method have on this decision?

A gratuity is taxable in all of the following situations except when: A.      The gratuity is paid at the end of the contract period, but there is no termination of employment. B.      Payment is made through the annual budget of certain government entities or statutory bodies. C.      The amount paid is considered by the contractor General to be a periodic payment D.      The payment is made in lieu of a pension and it is in the form of a lump sum paid out of the consolidated fund.