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Calculate the net assessable income of Mr. Ching for the year of assessment 2011/12. Give explanations for the tax treatments of items stated in the question.
Calculate EVA for both subsidiaries. Note that since no adjustments for accounting distortions are being made, EVA is equivalent to residual income.
Evaluate the company in terms of ROI While income has increased in fiscal 2015, is it clear that the company's performance has improved?
$2,000 cash from his employer together with a voucher of honeymoon tour to Phuket at a value of $10,000. During the honeymoon trip, Mr. Man spent $8,000 for souvenirs and extra meals.
Company has a joint process, which produces three products called A, B and C. Each product may be sold at split-off or processed further and then sold.
Your boss called you into the office and reprimanded you for the unfavorable variances. The boss says you are fired unless you can explain why the variances are all unfavorable.
Using the Balance Sheet from your answer above, calculate the Current Ratio and Return on common stockholders' equity ratio. (Make sure to show all your work).
Net income for 2014 totaled $119,460. At January 1, 2014 there were 20,000 shares of common stock outstanding. On July 3, 40,000 additional shares were issued. No stock options or warrants are outst
Gentry Inc. acquired 100% of Gaspard Farms on January 5, 2010. During 2010, Gentry sold Gaspard Farms for $625,000 goods which had cost $425,000.
If there are 3 partners in a partnership each contributing 10 000 each in their business and they each agree to share their profits proportionaly to their contributed capital by 1/3 cash each.
Compute the contribution margin for the Pet Supplies Division.Compute the contribution controllable by the manager of the Training Division.
Prepare a listing of the accounts receivable customer balances and verify that the total of the accounts receivable customer balances equals the balance of the accounts receivable controlling accoun
John Corp appropriately uses the installment method of accounting to recognize income in its financial statements. Pertinent data relating to this method of accounting includes:
Credit sales are 80% of total sales. Collections of credit sales are 80% in the month of sale, 15% in the month after sale and 5% are never collected.
Video Toys manufacturers and sells arcade games. Dividends are currently $1.50 per share and are expected to grow at a 15% compound annual rate over the next three years.
The cost of goods sold rate is 65% and the desired ending inventory level is 25% of the next month's cost of sales.
Prepare a cost comparison for replacing the old equipment. Use only relevant items and add the items together for the next 6 years.
Company has a joint process, which produces three products called A, B and C. Each product may be sold at split-off or processed further and then sold. Joint processing costs for a year are $20,000.
A corporation adopted the doalr value LIFO method of inventory valuation on Dec 31, 2011. Its inventory at that date was 450000 and the relevant price idex was 100.
Evaluate the risks to Plastic Dollars of programmed threats. What are the potential direct and indirect costs associated with these risks?
Compute the change in operating income if Olson Company eliminates Dept. C and doubles the sales of Dept. T without increasing fixed costs.
Company has just completed its first year of operations. The company's accountant has prepared an absorption costing income statement for the year as seen below
Direct materials $0.60 Direct manufacturing labor $3.00 Variable manufacturing overhead $1.20 Fixed manufacturing overhead $1.60 Variable selling $0.80 Fixed selling $1.13 The ties normally sell for
Direct materials used $29,000 Direct labor $17,000 Variable indirect production $13,000 Fixed indirect production $18,000 Variable selling and administrative expenses $22,000