yield to maturity when he sells it?  What return would he earn during the time he held the bond?  What portion of the

Q: Net realizable val = purchases entory - Decembe

A: The theory of lesser of cost or net realizable value states that inventory must be recorded at the…

Q: The following information has been extracted trom the records ol Jayson Company about one of its…

A: Solution Units available for sale = Beginning balance on Jan 1 + Purchase on January 6 + Purchase on…

Q: What is the gain (or loss) from the derecognition of liability?

A: Kochi Company showed the following data with respect to a matured obligation:  Notes payable…

Q: P600,000 and P200,000, respectively. What is the income tax due to John Wick in his quarterly income…

A: It is given in the question that Mr. John Wick who is the taxpayer has failed to signify his…

Q: COBT Ketail Merchandise inventory, January 1, 2021 $260,000 544,420 10,800 $350,000 910,000…

A: Calculation of above requirement are as follows

Q: Question: Under the fair value model, what is the amount reported in the 2022 profit or loss?…

A: Fair Value model Under the fair value model, the value of the investment property is remeasured at…

Q: 9. Answer what is required of the problem.

A: in the given problem we have to calculate the followings total Interest for the year 2021 Quarterly…

Q: The term "sale or exchange of services" means the performance of all kinds of services in the…

A: Sale A seller who sells goods, products, or services to the buyer expecting money in return is known…

Q: Tommy's Trucks Co. traded in a used truck for a new one. The original cost of the old truck was…

A: Calculation of cost of acquire a new truck and cost of disposal are as follows.

Q: The following balances were taken from a sole trader’s accounts for the year  ended 30 June 2021:…

A: Solution: Capital account balance on 30.06.2021 = Beginning capita balance + Profit for the year =…

Q: Fatin buys a new café furniture worth RM 9,200. She receives an invoice dated 19 April 2021 with…

A: Fatin buys a new café furniture worth RM 9,200. She receives an invoice dated 19 April2021 with…

Q: During 2021, Bycomb Company generated revenues of £300,000 for services rendered  of which £70,000…

A: As per accrual syst of accounting, revenue. and expense will be recognised as and when they are…

Q: Sherborne sold his rental house in California, for a sales price of $750,000. He recognized a…

A: Capital Gains When the asset is sold and the realizable value is more than the capital asset’s value…

Q: Bronzini enters into Fish partnership by contributing the following: Cash $15,600; Accounts…

A: The entire capital of a partner is equal to the sum of their capital and current account balances.…

Q: the projected year. Unit selling price, unit variable costs, and fixed costs are estimated to (1)…

A: Compute (1) the contribution margin for the current year and the projected year    Current Year…

Q: 4. The following information is provided: Project Income Investment P 33,000 P 56,250 P 27,500 A P…

A: ROI stands for return on investment. ROI is the ratio of firm's income with the Investment.

Q: what is the cost of the new animal shelter? Shuler Dog Care Co. wants to finance a new animal…

A: Interest rate = 6% Annual deposit for first 4 years = $24000 Annual deposit for next 4 years =…

Q: Lee Manufacturing Corporation was incorporated on January 3, 2021. The corporation's financial…

A: 1. Analysis for intangible asset accounts: Patents: Particulars  Amount Unadjusted Balances…

Q: 4- Mr Burns Riley, a British citizen and a resident exercised employment in Malaysia for the…

A: Malaysian Tax Residency Status: In Malaysia, the taxability on an individual is applicable based on…

Q: On January 2, 2020, Tuao Company purchased 10% of Abulug Company's outstanding ordinary shares for…

A: Formula: Ending balance = Beginning balance + Net income - Dividends paid.

Q: Question 7 Given are the following data: Cost of debt ro 6%; Cost of equity re 12.1%; Marginal tax…

A: The weighted average cost of capital can be calculated by multiplying the cost of capital by their…

Q: 3 Bought goods on credit from Smart Warehouse RM10,100. 4 Sold goods for cash RM3,400. 5 Paid…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: A company has $1,357 in inventory, $4,800 in net fixed assets, $646 in accounts receivable, $286 in…

A: As per the accounting equation concept, total assets are equal to the total liabilities and equity.…

Q: When materials costs differ significantly among products in a value stream, the valuestream product…

A: In contrast to traditional costing, value stream costing is an accounting technique for tracking…

Q: Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased…

A: Depreciation cost per unit = (Original Cost - Salvage Value)/ Total expected miles over the life of…

Q: inventory of raw materials at 50% of the coming month's budgeted production needs. Each unit of…

A: To Determine the quantity of raw materials that are required to be purchased for June, the following…

Q: MC12 Mega Company and its subsidiaries have a provided you with a list of property items they own:…

A: S. No. Particulars  Amount (P) 1 Land held by Mega for undetermined future use 10 million 2…

Q: sale of the property on December 1. How much income and expenses would A be allocated under the…

A: ABC is a cash basis calendar year partnership. A sells his 1/3rd interest to D on September 30. The…

Q: Problem 5. NGIWI Inc. has shown the following details as of yearend: AR P 200 000 Interest payable…

A: Current Ratio The purpose of calculating the current ratio of the business of the current liquidity…

Q: create 2 problems (required must vary) for each type of depreciation. 1. Straight Line Method 2.…

A: Deprecaition There are different depreciation method which are applicable in the assets of the…

Q: Unit v question 14

A: Raw Materials Inventory Dec-01 Beginning Balance            6,384 Dec-31 Requisition       14,154…

Q: 9. The Sample Company discounts a $100,000 note receivable on 15 May 20x2. The following facts are…

A: Maturity amount can be calculated as: = Principal + Interest accrued Further, the proceeds can be…

Q: s that influence the adoption of computarised ac

A: Using computerized accounting systems, you may set up revenue and expenditure accounts for things…

Q: Vat Payable in January is? * Given the following date during the 1st quarter of 2022: Output Tax…

A: Vat payable is the amount of output tax collected payable to the taxation authority after setting…

Q: Tax law contains a two-pronged system for taxing the US source income of foreign persons. Briefly…

A: under the domestic law of USA if the non-descident in the united state is for 90 days or less than…

Q: 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 Percentage 2019 P1,674,675 843,975…

A: Formula: Revenue % = ( Revenue value / revenue ) x 100

Q: The ledgerof VW Co. in 20x1 includes the following: Cash 200,000 Accounts receivable 400,000…

A: Rectification of Errors: It is the method of revising mistakes  made in recorded transactions.…

Q: MC19 The Diane Company has a single investment property acquired on July 1, 2019 for P11,400,000.…

A: Depreciation per annum using the straight line method  = (cost - residual value)/ useful life =…

Q: :Changing the design of the product is an example of A product level activity a O A batch level…

A: Product-level activities are the activities that are related to a specific product or activity.…

Q: Dr. Roger Jones is a successful dentist but is experiencing recurring financial difficulties.…

A: There are two scenarios in front of Dr. Jones. Dr. Jones should increase revenue or he should…

Q: Supplies $ 32,000 Service Revenue $ 110,000 Supplies Expense 9,000 Salaries and Wages Expense 38,000…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: 2. Prepare an income statement for July 2020.

A: Introduction:- Income statement shows detailing a company's income and expenses over a period of…

Q: ist and discuss Impairment measurements, Testing for Impairment, Asset Grouping, and Accounting for…

A: When the fair market value of an assets of the entity depreciates more than the asset's book value…

Q: Hudson Company reports the following contribution margin income statement.   HUDSON COMPANY…

A: Decrease in sales ( units ) = 9,600 units x 5% = 480 units  New sales ( units ) = 9,600 units - 480…

Q: Unit V question 3

A: (a) Direct material + Direct labor + Manufacturing overhead   = 9,780 + 5110 + 8,880 (a) = 23,770…

Q: What amount should be reported as inventory at a year-end

A: P3,100,000 amount should be reported as inventory at a year-end.

Q: q. 10 A company has net working capital of $687. Long term debt is $4,078, total assets are $6,201,…

A: Liabilities refer to the amount of a company's obligation to repay the sum to creditors, lenders,…

Q: PROBLEM 1 On August 1, Barreto Company exchanged a machine for a similar machine owned by Blakey…

A: Commercial substance in a business transaction means that the future cash flows of the transaction…

Q: Unit VIII question 10

A: Total material variance = Actual material cost – Standard material cost = 419,600 − (10 × 4.20 ×…

Q: Collins Company is preparing its master budget for April. Use the given estimates to determine the…

A: Total sales = Sales of territory A + Sales of territory B Units produced = Sales + ending inventory…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.