How much final tax will be withheld from Atty. Diokno if the law office distributed 50% of its 2021 net income? I

Q: Ackerman Limousine Service Balance Sheet December31, 2020 Assets Cash P 16,000 Accounts Receivable 2...

A: Equity represents the ownership of the business owner in the entity and liabilities are the obligati...

Q: 1. The audit risk is 3% while the inherent risk is 80% and control risk is 40%. What is the detectio...

A: Audit risk seems to be the chance that the audit would contain human mistakes and so would not be ca...

Q: ummer provided the following shareholders’ equity on December 31, 2021:   Preference share capital...

A: Solution Concept Book value per preference share             =preference share capital+ dividend in ...

Q: The generally accepted accounting principle that supports recording the value of a property at the p...

A: Correct answer is option 'D' i.e. cost principle. Explanation:  Under US GAAP As per cost principle ...

Q: E8.8 (LO 2), AP Horvath Company uses an imprest petty cash system. The fund was established on March...

A: Journal is the book of original entry in which all the transactions of the business are recorded ini...

Q: • Based on this information can you create an Income Statment • Accounts Receivable $1,200 • Account...

A: Income statement is one of the significant financial statement. This shows the entities' profitabili...

Q: 1. Paid 1,000 cash to his payables. 2. Harry potter paid 150 cash for telephone bill. Choices: a.) A...

A:

Q: Question 20. The amount of provisions that should be recognized at December 31, 2021 is?

A: Provisions in Accounting Provisions which are made in the accounting is to make the estimation in th...

Q: to adopt a charity foundation once she receives her money. She promised to donate annually to her ch...

A: The present value is the amount without the interest rate and which is equivalent to the all future ...

Q: COMPUTE FOR THE GROSS COMPENSATION INCOME OF JEN.  COMPUTE FOR THE TAXABLE COMPENSATION INCOME OF JE...

A: Gross compensation income is the income which is earned by the employee which has been received by t...

Q: Which of the following is recorded as a cost when purchasing an existing building? O A. cost to reno...

A: The correct solution is given in the following steps for your reference

Q: HOW MUCH IS THE COST OF GOODS SOLD? 2. HOW MUCH IS THE COST OF GOODS AVAILABLE FOR SALE? 3. HOW MUCH...

A: Net purchases = Purchases - Purchase return               = 200,000 - 10,000               = 190,000

Q: Shine received a promissory note of Php. 90,000, representing payment for her services as a legal of...

A:                            A promissory note is a written promise for a certain sum of money by the ...

Q: Whether wages paid to all employees are supported by a written and verifiable record of hours worked...

A: Auditing refers to audit of financial statements of a entity in order to check whether they show tru...

Q: Determine the Retained Earnings in 2018

A: There are some errors discovered in the financial statements for the year 2017 in connection with AB...

Q: TAARE ZAMEENPAR Company reported the following changes in the account balances for the current year,...

A: Net Income: The amount of money earned by a person or corporation after subtracting expenses, allowa...

Q: A building was purchased for $400,000 and depreciated for 10 years on a straight-line basis under th...

A: Depreciation formula as per straight-line basis: Annual depreciation=Cost-Salvage valueUseful Life

Q: During the review of loan contracts and agreements, the auditor would most likely figure out the fol...

A: Answer: The responsibility of auditor is to test the assertions with respect to the financials items...

Q: Which of the following procedures would an auditor most likely perform in searching for unrecorded l...

A: Audit is the process of examining and verifying books of accounts and financial information and this...

Q: Indicate the effects of the transactions listed, on current assets, current ratios and net income. U...

A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses ...

Q: V Corp. owns 70% of F Corp’s ordinary shares. On August 1, 2020, F Corp. sold a machine to V Corp. f...

A: solution concept The non controlling interest refers to the interest of the minority shareholders In...

Q: On January 1, 2017, Persephone Company sold a piece of transportation equipment with a historical co...

A: Cost of equipment : P1,000,000 Accumulated depreciation : P300,000 Note receivable : P800,000 , 12%

Q: Blue Ridge Marketing Inc. manufactures two products, A and B. Preseitly, the compaliy uses a single ...

A: Lets understand the basics. There are two types of rates are followed for allocating fixed overhead ...

Q: The following control procedures are used in Mendy Lang’s Boutique Shoppe for cash disbursements. 1...

A: Internal control is a process carried out by a company's board of directors, management, and other p...

Q: The contractually agreed snaring of control of an arrangement wnich exists only when decisions oDout...

A: IFRS are the standards that are used for the financial reporting of the entities. These standards go...

Q: BROWN Company keeps limited records. Its assets and liabilities at the beginning and end of the curr...

A: Change in assets = Change in liabilities + Change in equity Change in assets - Change in liabilities...

Q: .ull Airtel TZ 3G 10:08 @ 12% I 4. The trial balance below was extracted from the books of CiciCaca ...

A: Hi student Since there are multiple questions, we will answer only first question.

Q: 8. The New Wave Inn owned by Minty had the following assets, liabilities, and proprietor's capital a...

A: Capital: Capital means the net assets available to the owner after deducting all the liabilities fro...

Q: How much is the total expense? How much is the net income? What is the balance of the ending capit...

A: Accounting equation of the business says that total assets must be equal to total liabilities and to...

Q: Honda Motor Company is considering offering a $2,100 rebate on its​ minivan, lowering the​ vehicle'...

A: Answer -  Incremental revenuer efers to the additional revenue generated from an additional quantity...

Q: As the audit associate, you were asked by the senior associate to check the completeness of confirma...

A: SOLUTION A voucher is a document recording a liability or allowing for a payment of a debt or debt h...

Q: provided the following shareholders’ equity on December 31, 2021: Preference share capital, 10% P50...

A: For calculating the book value per ordinary share we will add share premium and retained earnings ba...

Q: YELLOW Company owns an office building and leases the offices under a variety of rental agreements i...

A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are inc...

Q: Please asnwer in detail! Taxpayer owned some commercial property. Taxpayer recorded the property on...

A: Property's Value- Land value is the worth of a part of belongings, which involves both the worth of ...

Q: Company ABC is preparing its 2021 financial statements.  At the end of 2021, the company purchased a...

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...

Q: Question 1: What is the correct amount of accounts payable to be presented in the statement of finan...

A: The question pertains to determining the correct current and non current liabilities of the BeCarefu...

Q: 2014. On April1, 2014, the entity made P300,000 in unanticipated ordinary repairs to plant équipment...

A: The property taxes and unanticipated ordinary repair are paid for the entire year in 2014. Property ...

Q: Which of the following should an auditor obtain from the predecessor auditor prior to accepting an a...

A: An Auditor is a person responsible for verifying the financial statements or we can say financial re...

Q: End of year 29,520 20,073 74,620 35,817 113,1 89,3 Assets 41,000 Liabilities 13,460 Changes during t...

A: As per accounting equation, Assets = Liabilities + equity Equity = Stock issuance + income - loss - ...

Q: What is the period of time covered by the income statement?

A: Answer:; Income statement is made for the period of one year and it is stated as for the year ended ...

Q: Pro-Craft Company computed the following activity rates to allocate overhead cost for the year. Acti...

A: The overhead can be applied to the production on the basis of predetermined overhead rate.  The pred...

Q: Crystal Company operates a customer loyalty programme. It grants programme members 10 loyalty points...

A: 10 loyalty points for every 1000 amount of groceries  Fair value of each loyalty point is P5    

Q: If individuals believe their income will decrease in the near future, they may _____________ their s...

A: Income of an individual and expenses are directly related. Where a person earns more income, his pur...

Q: ifferences between the amount of cash reported on a company’s bank statement and the balance in the ...

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or ba...

Q: What is receipt and payment account

A: The answer is provided as follows:

Q: Which of the following items will not be shown in the balance sheet of ahotel

A: Balance sheet is an orderly arrangement of assets and liabilities of a  business entity on a particu...

Q: Bentilador Mo Co. gathered the following information In reconciling the cash balance on December 31,...

A: A reconciliation statement must account for all fees assessed by a bank on an account.  The balance ...

Q: Required information [The following information applies to the questions displayed below.] On Decemb...

A: An income statements statement that shows a company's income and expenses. It also indicates whether...

Q: Ben had $88,000 of income from wages and $4,350 of taxable interest. Ben also made contributions of ...

A: Taxable income seems to be the part of an individual's personal or a firm's income which is used to ...

Q: The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance fro...

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with ...