Chapter 5, Problem 5.3.2E

Mr. Johnson is subject to the supervision, direction and control of another person. He  holds an integral position within the organization and does not conduct business on his account. What kind of contractual agreement is Mr. Johnson involved in? A.Mutual agreement for service B.Contract for personal service C.Contract for service D.Contract of service

Please help me solve this general accounting question using the right accounting principles.

1. Samson Ltd. bought new equipment for $3,000,000 in one year and over three years capital allowances of $1,850,000 had been allowed. In year four (4) the equipment was sold for $3,100,000. The balancing allowance/charge position would be: A.Balancing allowance of $1,950,000 B.Balancing allowance of $4,250,000 C.Balancing charge of $1,950,000 D.Balancing charge of $1,850,000   2. Mr. Johnson is subject to the supervision, direction and control of another person. He  holds an integral position within the organization and does not conduct business on his account. What kind of contractual agreement is Mr. Johnson involved in? A.Mutual agreement for service B.Contract for personal service C.Contract for service D.Contract of service   3. Sandra is an employee at Jackson Hill Ltd. in Jamaica. She falls in the exempt category for uniforms supplied by the company. Calculate Sandra’s tax benefit if the cost of the uniform to the employer was $10,000. A.$4,261 B.$2,500 C.$1,434.75 D.$1,065.25

I am looking for help with this general accounting question using proper accounting standards.

Please explain the correct approach for solving this general accounting question.

King, Laing and Martin LLP in Trinidad and Tobago wanted to register for VAT. All of the following are registration requirements for VAT except: A.Original and copy of Certificate of Registration B.Acceptable evidence where total commercial supplies or anticipated commercial supplies are/will be in excess of $600,000.00 over a 12 month period C.Completed Registration Forms (Form A and Form B) D.BIR File Number of partnership

None

Please provide the correct answer to this general accounting problem using valid calculations.

Accounting answer please