Which of the following is the account and amount that should appear in the dotted places in the journal article above? a) 191 VAT Deductible 5.400 TL B) 391 VAT to be calculated Hs. 5.400 TL NS) 391 Calculated VAT Hs. 6.300 TL D) 360 Taxes and Funds Payable Hs. 5.400 TL TO) 191 VAT Deductible 5,000 TL
Q: What amount must be remitted if invoices dated June 28 for $815, July 7 for $780 and July 14 for…
A: solution : given Invoice dated Amount June 28 $815 July 7 $780 July 14 $895…
Q: GLO701 - Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Turner…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Credit for partial payment and net amount due if the invoice is $8303 and the partial payment is…
A: Net amount due = Net price - Partial payment due
Q: Eight independent situations are described below. Each involves future deductible amounts and/or…
A: Given, Pretax Accounting Income = $190 Million To Calculate Taxable income: Temporary Difference…
Q: Company Z has a deposit with ABC Bank. It obtained a loan from ASAP Financing Corp. in connection…
A: Here discuss about the details of the allowable deduction from the interest expenses which are…
Q: 3. Consider the following accounts and determine if the account is a current liability, a long-term…
A: Current liabilities are short term obligation that to be paid within one year and liabilities having…
Q: expected to produce P70,000, which must be allocated to unse P105,000. The following are some of the…
A: The answer is stated below:
Q: Which account is the difference and how? saved?
A: 9. 391- The balance of the calculated VAT account is 5,000 TL , 190-The balance of the transferred…
Q: compounded monthly is now $2,997.78. How much of this amount is principal and how much is interest?…
A: Future value of amount is value of principal amount and interest while present value is amount of…
Q: P5 Pre-tax profit Items not recognized at year-end were as follows: Prepaid insurance Accrued wages…
A: Pretax profit =5000000 Prepaid insurance =250000 Accrued wages =200000 Rent revenue collected in…
Q: 2. Proud Co.'s records on Dec. 31, 20x1 show the following account balances: Trade accounts payable…
A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle,…
Q: GLO701 - Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Turner…
A: Note: Only the calculation of interest has been answered as it has been selected/highlighted.…
Q: An accountant needs to withhold 21% of income for taxes if the income is below $50,000, and 28% of…
A: The Spreadsheet expression to calculate the withheld amount can be given as follows:-
Q: Kingbird Corporation factors $ 276,900 of accounts receivable with Kathleen Battle Financing, Inc.…
A: RECOURSE FACTORING IS THE MOST COMMON AND MEANS THAT FACTOR CAN DEMAND MONEY BACK FROM THE COMPANY…
Q: In Part 5 of Form 940, Peterson Company reported FUTA tax liabilities as follows: First quarter:…
A: FUTA Tax Provisions: In the event that the FUTA tax exceeds 500, it must be paid by the last day of…
Q: RECEIVABLE FINANCING REQUIRED: 1. At what amount on the current assets section of the December 31,…
A: Account receivable is the amount of which is owned from the customer for the credit sales made to…
Q: Princess EJ Corporation factors P350,000 of accounts receivable with XYZ Financing on a with…
A: A journal entry is the process of chronicling the financial transactions in the books of the…
Q: 2. On April 1, 2021, Faircloud Variety Company deposited $24 000 into a savings account earning…
A: Simple interest method is a method of computing interest on borrowed amount where interest is…
Q: revenue has been recognized in 2021 in connection with the loan. What is the loan impairment loss on…
A: Impairment means a sudden reduction in the asset value that a company has which can be fixed or…
Q: CPA Company assigned P 4,000,000 of accounts receivables as collateral for a P1,500,000 5% loan with…
A: Loss on the transfer of accounts receivables =accounts receivables assigned x finance charge %
Q: At year-end, Roth Compan note payable in exchange for services nto f296
A: Note payable is the amount that has been borrowed in exchange for the note issued by the company. It…
Q: What amount must be remitted if invoices dated June 28 for $815, July 7 for $780 and July 14 for…
A: Here in this question, we are required to calculate discount. It is based on the concept of EOM…
Q: special itemized deductions from gross income?
A: Special itemized deductions includes real estate tax , sales tax , mortgage interest , property tax.…
Q: 4. Help the inexperienced accountant of Ala-alipaw Co. Discount on notes payable on initial…
A: Loan amount = 1,119,272 Yearly Payment = 400,000 Interest expense in year 1 = 179,084
Q: Accounts payable and other liabilities include debts, taxes and assessments due to the National…
A: Liquidation Process In the liquidation process in a company first to taken up whole assets which can…
Q: An amount of 5 million is placed on deposit from 17 August to 31 December at 6.7%. What would be the…
A: ACT/365, ACT/360, and 30/360 basis are different day/year conventions used to calculate interest…
Q: On 9/1, the Knight's Stop issues a new the previous year. The new part was is: On 9/1, Knight's Stop…
A: Warranty are provided to customers and warranty are laibilties of customers to company for warranty…
Q: Consider the above balance sheet and income statement. The account payable deferral period is equal…
A: The account payable deferral period is the period of time taken by the company to pay off its…
Q: 1) Prepare a balance sheet, assuming that the current portion of the note payable is $7,000
A: Introduction: Current assets are projected to be consumed, sold, or converted into cash in one year…
Q: The books of Blue moon bank as on 31/12/2019 showed the following information: Rebate on bills…
A: Rebate on bills discounted means discount received in advance. It is portion of discount which…
Q: ocker Rent 3500 Income from Government securities 2274 Interest on deposits 473 Transfer fees…
A: Net profit means the difference between the income and expenses. In case of bank , non interest…
Q: Eight independent situations are described below. Each involves future deductible amounts and/or…
A:
Q: GLO701 - Based on Problem 7-5A LO C2, C3, P4 The following selected transactions are from Garcia…
A: Interest Revenue - Interest Revenue is the revenue earned from the notes issued by the company.…
Q: A, B, and C borrowed P3M from D, E, and F evidenced by a promissory note worded as follows to wit:…
A: The promissory note is used for the purpose of borrowing money from one party from another party,…
Q: Entity A received a 12%, ₱200,000, one-year, note receivable on October 1, 20x1. Entity A uses a…
A: Note receivable- It is type of financial instrument which is given to the entity at a fixed rate of…
Q: revenue $878,412.00 general & administrative expense $352,666.00 depreciation expense…
A: Excel Spreadsheet:
Q: n0-14 Defining common receivables terms Lea Match the terms with their correct dcinition.…
A: Since there are multi sun-parts, we will solve first three for you. To get the remaining sun-parts…
Q: Consider the descriptions of the following accounts and determine if each account is a current…
A: Liability means the amount which is to be paid to an outsider. Current liability mean the amount…
Q: How much is the balance of the “Allowance for Uncollectible Accounts” to be reported in the…
A: Calculation of amount of Uncollectible accounts expense Uncollectible accounts expense = Estimated…
Q: he records of Aloha Company on December 31, 2021: Carrying amount Tax base Accounts receivable P…
A: According to the applicable standard 'Income Taxes,' if there is a discrepancy between the tax base…
Q: 391- The balance of the calculated VAT account is 10,000 TL, 191 The balance of the deductible VAT…
A: The answer for the multiple choice question and relevant explanation are presented hereunder :
Q: Statement 1; The balance of allowance for uncollectible account as of December 31, 2021 is P34,000.…
A:
Q: Entity A received a 12% P200,000, one-year, note receivable on October 1, 2001. Entity A uses a…
A: Accrued interest is the amount of interest which is being earned by the business, but not yet…
Q: r each transaction in the books of anuary, 20-.
A: Given: $75.00; cash sales slip no. 4923.$120.00; cash sales slip no. 4924.$58.60; invoice…
Q: 16. Jim Havey receives an invoice amounting to $2916 with cash terms of 3/10 prox. and dated June 7.…
A: Credit terms refers to the total time period allowed by the company to the customers to avail credit…
Q: 1. federal income tax payable this year [ Select one] a. current liability b.…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: Question 2 With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $6,750 Credit…
A: FUTA means the "Federal Unemployment Tax Act" which provides for the levy of tax on the wages…
6 - |
Which of the following is the account and amount that should appear in the dotted places in the journal article above? |
|
Step by step
Solved in 2 steps
- Part A Define a secured debt. Give two examples of secured debt. 15px Space used (includes formatting): 0 / 15000 Part B What is a bad debt? Give two examples.rseware-delivery//ua/69158/45467554/aHR0cHM6Ly9mMS5hcHAUZWRtZW50dWouY29tL2xlYXJUZXItdWkvc2Vjb25kYXJ5L3VzZXI: Unit Activity: Mathematical Models and Investments Part C Why are municipal bonds less attractive to foreign bondholders? BIUX² X₂ 15px Space used (includes formatting): 0 / 15000 15px AVA Part D Why does building a ladder of bonds protect against changes in interest rates?/ BIUX² X₂ Space used (includes formatting): 0/15000 === A 23 Apr 13 8 of 11 11:26 0 ⠀ ► Save & Exit5. Definitions: Pick 5 and define, describe why each matter, provide an example Define Describe why it matters Term Time value of money Passive income Net Worth Credit Score/Credit rating Risk Evaluation Stocks bonds Gross income v. Net income Mutual funds ETFs Index funds RRSP Consumer Debt OSAP Example(s)
- For each of the unrelated transactions described below, present the entries required to record each transaction. Flounder Corp. issued $18,800,000 par value 11% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. 1. 2. 3. Culver Company issued $18,800,000 par value 11% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $4. Suppose Sepracor, Inc. called its convertible debt in 2020. Assume the following related to the transaction. The 12%. $10,100,000 par value bonds were converted into 1,010,000 shares of $1 par value common stock on July 1, 2020. On July 1. there was $52,000 of unamortized discount applicable to the bonds, and the company paid an additional $75,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.May I ask for a solution and explanation to the problem for a better understanding. Thank you! For Carrot Corp, what is the debt to asset ratio? a. 25.52 : 1 b. 23.64 : 1 c. 20 : 1 d. 22.54 : 1Ma1. QUESTION 19 In accordance with Ghana’s banking Act, explain the following and their respective benchmarks: i) Secondary Reserves ii) Capital Adequacy Ratio (CAR) iii) Primary Liquidity iv) Secondary liquidity v) Non-Performing loans vi) Income earning assets and non-income earning assets vii) Interest bearing liabilities and non-interest bearing liabilities viii) Asset quality ix) Interest Income x) Interest expense xi) Policy rate
- issis.com/FEL X - Unit Activity: Mathematical Mo x + lelivery//ua/69158/45467532/aHR0cHM6Ly9mMS5hcHAUZWRtZW50dW0uY29tL2xlYXJuZXItdWkvc2Vjb25kYXJ5L3VzZXIt nit Activity: Mathematical Models and Consumer Finance Task 7 Financing Transportation Respond to each question below in two to three complete sentences. Each question is worth four points. Space used (includes formatting): 0/15000 Part A Lydia makes a down payment of $1,600 on a $11,000 car loan. How much of the purchase price will the interest be calculated on? Explain how you arrived at the final answer. BIUX² X₂ 15px Part B AV king a down payment on a car loan help a car buyer? 11 of 12 = Print 11:58 O PI ☐ Save &q11 Which of the following is an arrangement by which one party promises to pay a sum of money to policyholder as protection against an adverse or unfavorable occurrence of event? a. Short Term Loans b. Fixed Deposit c. Insurance d. Investment q12 Insurance companies and brokerage houses are examples of which of the following. a. Financial instruments b. Financial institutions c. Medium of exchange d. Financial marketsUBFB20233 CREDIT ANALYSIS AND LENDING
- tests.mettl.com/test-window/f55ac827#/testWindow/0/16/1 EY Accounting Assessment O Total 00:54.47 Finish Test Section 1 of 1 Section #1 v 10 11 12 13 14 15 16 17 18 19 20 17 of 45 All 2 43 Question # 17 G Revisit Choose the best option Which of the following formula best describes the acid test or quick ratio? Current assets: Current liabilities. Debtors: Creditors O (Current assets stock) Current liabilities. O Current assets: (Current liabilities - bank overdraft). Frev Cueston Next Question +91-82878-03040 Zaineh | Support +1-650-924-9221 metil 413 PM 1/16/2021 Type here to searchMatch the words with the term. Question 7 options: 12345 insurance 12345 guarantees 12345 ability to repay loan 12345 status of industry 12345 integrity 1. capacity 2. collateral 3. coverage 4. character 5. conditions158/45467532/aHR0cHM6Ly9mMS5hcHAUZWRtZW50dW0uY29tL2xlYXJuZXItdWkvc2Vjb25kYXJ5L3VzZXIt... Unit Activity: Mathematical Models and Consumer Finance Part B How does making a down payment on a car loan help a car buyer? BIUX² X₂ 15px V A A 沒有 三 三 四 V Space used (includes formatting): 0 / 15000 11 of 12 E In