Discuss the Legislative Authority of VAT in Trinidad and Tobago
Q: The expected total capital budget for the year is? 2. Assuming the company has 200,000 ordinary sha...
A: Dividend per share is the dividend amount which has been paid by the company to the one per share wh...
Q: Murata Enterprises has a long-standing policy of acquiring company equipment by leasing. Early in 2...
A: Lease Payment There are mainly two types of leases are there one is operating lease and another one ...
Q: 2. What is the measurement of the equipment that ceases to be held for sale on December 31, 2023? * ...
A: Held for sale refers to the assets which the organization has intention to sell off, when the assets...
Q: Which of the following information should be disclosed in the summary of significant accounting poli...
A: Significant accounting policies are the policies used in preparation and presentation of financial s...
Q: On July 1, 2022, Damlen Jurado Company pays $12.000 to its insurance company for a 2-year Insurance ...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: The following is information for three local auto dealers: Bell’s Domestics Junior’s Used Europe’...
A: Preparation of income statement and other requirement with all necessary calculation are as follows
Q: Gail , Inc. has a bonus plan covering all employees. The total bonus is equal to 10% of Gail 's prel...
A: Bonus = Income before bonus and tax x bonus rate
Q: Last year, which is used as the base year, a firm had cash of P46, accounts receivable of P132, inve...
A: The common–base year Value can be calculated by dividing each current year item amount by the base-y...
Q: Journalize the inception of the lease and the first payment made by PMA in the books of GP (Lessee) ...
A: Lease liability refers to obligation of the company requires to pay periodic lease payment on the le...
Q: The HEYBM CORPORATION presented the following in order to aid the accountant in preparing the CFS: (...
A: 1. Statement of Cash Flow - Cash Flow is the statement prepared by the organization for the purpose ...
Q: Classify the following items that may cause discrepancy between accounting profit and taxable income...
A: 1. Collections of rental in excess of rent revenue reported during the period is a Taxable temporary...
Q: The Chronicle Fabrication Plant had a fire at the beginning of 2019 and most of the records for the ...
A: Estimated Manufacturing Overhead Rate = Total Estimated Manufacturing for the period/ Total Amount a...
Q: Question: Rooney has recently finished building a new item of plant for its own use. The item is a p...
A: IAS 16 Property plant and equipment, describes accounting treatment of property plant and equipment,...
Q: The balance in the supplies account on June 1 was $5230, supplies purchased during June were $3480, ...
A: calculation of adjusting entry amount are as follows
Q: Exercise 8-16 Disposal of assets LO P2 Diaz Company owns a machine that cost $126,800 and has accumu...
A: >When a long term asset is disposed off or sold, a gain or loss is recognized in the books of acc...
Q: The below information is the same as the previous question. On January 1, 20X1, a company financed t...
A: Calculation of amount of sale reported are as follows.
Q: The entity has a long -term line of credit Matthew Co. includes one coupon in each bag of dog food i...
A: The correct answer is given in the following steps for your reference
Q: Balance sheet preparation Use the appropriate items from the following list to prepare in good form...
A: Solution Working note Calculation of net income Sales Revenue 3564 Less cost of goods sold...
Q: Large Company $ $ $ Net sales 379,420 Cost of sales 163,100 Gross profit Selling, general, and admin...
A: Profit margin measures how much money a firm or business activity produces by dividing income by rev...
Q: Journal Journalize the two entries required to close the accounts. Refer to the chart of accounts fo...
A: Closing entries are those entry of a company that are recorded at the end of each accounting period ...
Q: Diaz Company owns a machine that cost $126,800 and has accumulated depreciation of $93.000. Prepare ...
A: ANSWER SITUATION 1 RECORD THE DISPOSAL OF MACHINE RECEIVING NOTHING IN RETURN ON JANUARY 01. ACCUMUL...
Q: Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its dire...
A: Answer) Calculation of Total Manufacturing Cost Assigned to Job A-500 Amount Direct Mat...
Q: If a company is experiencing cash flow difficulties, it may opt to sell its receivables to a third p...
A: Any company can face cash crunch/ cash burn/ cash difficulties because of inefficient collection fro...
Q: A draw bench for precision forming and strengthening of carbon steel tubing has a cost of S950,000. ...
A: >Accounting principle states that the cost of the long term assets (like equipment) is to be capi...
Q: Green Plants & Things, Inc. buys merchandise from Palm Tree, LLC. Both companies use perpetual inven...
A: Green Plants & Things buys / purchase goods from Palm Tree , LLC which means Green Plants & ...
Q: suming a 360-day year, when a $12,600, 90-day, 11% interest-bearing note payable matures, total paym...
A: Maturity Value of Note Payable = Face Value + Interest Maturity value = Face Value + (Face Value x R...
Q: Appendix: Adjustment Data on an End-of-Period Spreadsheet Alert Security Services Co. offers securit...
A: The adjustments entries are prepared at year end to adjust the revenue and expenses of the current p...
Q: As manager of the St. Cloud Theatre Company, you have decided that concession sales will support the...
A: \Given below is the information of the question: SOFT DRINK WINE COFFEE CANDY Selling price 1...
Q: Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $367,000 as part ...
A: The question requires a single journal entry for the transaction of cash paid . Cash has been paid f...
Q: Learning Task #1 Directions: Complete the table below. The first item has been done for you. Increas...
A: 1. Liabilities - Liabilities are the amount owed to some outsiders. 2. Owner's Equity - Equity is th...
Q: One element of the general transfer-pricing rule is opportunity cost. Briefly define the term 'oppor...
A: Opportunity cost is the benefit foregone from choosing the next best alternative in a decision makin...
Q: 1. Mr. Francisco, an employee of ACE Corporation, decided to retire after ten (10) years of service ...
A: Taxable income is that the portion of your gross income wont to calculate what proportion tax you ow...
Q: following three theories of corporate social responsibility: (i) shareholder value theory, (ii) stak...
A: These are three management theories 1) Shareholders value theory: shareholders value theory says tha...
Q: A company purchased equipment, incurring the following costs: Invoice price $55,000 Sales taxes. 3,2...
A: The equipment includes all the costs that are incurred in making equipment available to use. It incl...
Q: The following represents the financial information for Domingo Corporation for two months. April S39...
A: The question is based on the concept of Financial Accounting.
Q: Interpreting Information in the Statement of Shareholders' Equity The 2014 statement of stockholders...
A: Journal entry - It refers to the process where the business transactions are recorded in the books o...
Q: The following is an effort to shift income in the period as desired by management. a. Delay paying a...
A: Net income of the business is calculated after deducting all type of expenses from the revenues of t...
Q: The Chronicle Fabrication Plant had a fire at the beginning of 2019 and most of the records for the ...
A: Variance in Accounting: In budgeting, a variance is the contrast between a planned, arranged, or sta...
Q: Cash flows It is typical for Jane to plan, monitor, and assess her financial position using cash flo...
A: ANSWER A) 1. Calculation of total cash inflow Interest received =$440 Salary ...
Q: Zhongli Co. (lessee) entered into a contract of lease with Rex Lapis Co. (lessor) that allows Zhongl...
A: The operating lease is recorded at the present value of the minimum lease payment. This present valu...
Q: All That Blooms provides environmentally friendly lawn services for homeowners. Its operating costs ...
A: Break even point in units = Fixed cost/contribution margin per unit
Q: 3. A business is generating an annual income of $100,000 for the next ten years with a salvage value...
A: Answer) Calculation of amount to be paid today Amount to be paid today will be the Present Value of ...
Q: Presto Inc. acquired 75% outstanding ordinary shares of Sun Corp. Presto regularly sells inventory t...
A: The computation of non-controlling interest in the net income of the subsidiary will be: (Net income...
Q: Jam Ltd: Statement of financial performance for the year ended 31 December 2021 Sales revenue 9,240,...
A:
Q: What is Milson's rate of return on common stock equity for 2021?
A: Return on Common Equity = Net Income for Common Stockholders / Average Common Equity Net Income for ...
Q: After years of operations, the partnership of De Vera, Dela Cruz, De Jesus is to be liquidated. Afte...
A: Liquidation in finance is the method of bringing a business to a stop and dispensing its assets to c...
Q: 25) Under the direct-write-off method, uncollectible accounts expense is recognized A. As a percenta...
A: Uncollectible accounts expense are those expense which cannot be collected. They are those expense w...
Q: 1. A business is generating $100,000 per year for the next ten years except year 5 (used for overhau...
A: Solution Formula used Equal annual revenue =present value of revenue / present value of annuity f...
Q: Micro-business entities can use which basis of accounting
A: Micro business entities have the option to us any of the following basis of accounting in the prepar...
Q: Lovely Corp 's current liabilities at Dec. 31, 2019 totaled P 1,500,000 before any necessary year-en...
A: Current Liability: Current liabilities are financial commitments owed by a corporation that are due ...
Discuss the Legislative Authority of VAT in Trinidad and Tobago.
Step by step
Solved in 2 steps
- Discuss the government structure of the Ghana Revenue AuthorityDiscuss the VAT regime in Trinidad and the impact of VAT on the country’s economy.Answer should cover, but not limited, to the following: • VAT registration• Time of supply • Place of supply • VAT rates• VAT Filing requirements & reporting obligations• Penalties• Legislative Authority of VATwhat is the difference between state government and local government in Malaysia?