Delta Corporation bought a condominium unit for P6,000,0000.

n each of the following cases, discuss how the taxpayers might respond to a tax rate increase in a manner consistent with the income effect. a.  Mr. Edwards earns $32,000 a year as an employee, and Mrs. Edwards doesn’t work.b.  Mr. Frank earns $22,000 a year as an employee, and Mrs. Frank earns $10,000 a year as a self-employed worker.c.  Mr. George earns $22,000 a year as an employee, and Mrs. George earns $10,000 a year as an employee.

The finance director of Hyden Ltd is unsure about the deferred tax implications for two of the items in the company’s statement of financial position.   Item 1: Hyden Ltd has a balance of $100,000 in its prepaid insurance account. The insurance is deductible when the payment to the insurance is made.     Item 2: Hyden Ltd purchased an item of property, plant and equipment (PPE) 5 years ago for $1,000,000. The depreciation expense for accounting purpose is $50,000 per annum, resulting an accumulated depreciation of $250,000 for the year. The taxation office allows this type of PPE to be depreciated at $25,000 per annum.   Required:   (a)   Calculate the deferred tax implication (deferred tax asset or deferred tax liability) for each of the above items, in accordance with IAS 12 / AASB 112 Income Taxes. Assume a tax rate of 30%. ANSWER HERE:                   Carrying Amount TaxBase Taxable Temp Diffs DeductibleTemp Diffs Prepaid insurance…

Ginger agreed to pay the full deed transfer tax on the $600,000 sale of her property in Miami-Dade County. Ho much will Ginger owe for the deed transfer tax? $2.500 $3,600 $4.200 $4.000

Your employer asks you to consult on the better approach to a decision.  What should the corporation pay for an asset that will return them $150,000 at the end of year 1, then zero in year 2, then $400,000 in years 3 & 4, then zero in year 5, then $200,000 in years 6-10, assuming their discount rate is 3% (ignoring taxes) ?

Ginger agreed to pay the full deed transfer tax on the $600,000 sale of her property in Miami-Dade County. How much will Ginger owe for the deed transfer tax? $2,500 $3,600 $4,200 $4,000

H5.

Jake parchased a $235,000 crane for his constraction business. He sold the crane for $175,000 after taking $115,000 of depreciation. Assume take is : What amount of the gain or loss is subject to ordinary tax rates?