The Income Statement This indicates financial performance over a period of time. It is usually done at the end of a financial year (30th June)‚ but an income statement can be made up at other times‚ e.g.‚ if a business wishes to apply for a loan‚ the bank may ask for a more recent income statement. The other names for this kind of statement are Revenue Statement and Profit and Loss Statement. Income Statement for Ima Mess‚ year ended 30.6.12 |
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The Economics of the minimum wage On August 2013‚ 3.5 million Bangladesh garment workers got their 36 dollars/month minimum wage raised by 80%. This was a response of the Bangladeshi government to April´s collapse and burn of the Rena Plaza factory where hundreds of workers were killed. This was covered by the international media all over the world and forced western retailers to improve working conditions in their supplier’s factories there. 10.000 miles away from Bangladesh‚ the richest country
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Question 14-4 Internal Revenue Code Section 351 permits shareholders of a corporation to defer recognition of a gain or loss on the transfer of assets to the corporation. The transfer of property may be made when a new corporation is formed or may reflect additional capital contributions to an existing corporation. Without Section 351‚ a sole proprietorship or a partnership would have difficulty adopting the corporate form of organization for legal and/or tax purposes because the transfer of appreciated
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difference; taxable income given LO1 Alvis Corporation reports pretax accounting income of $400‚000‚ but due to a single temporary difference‚ taxable income is only $250‚000. At the beginning of the year‚ no temporary differences existed. Required: 1. Assuming a tax rate of 35%‚ what will be Alvis’s net income? 2. What will Alvis report in the balance sheet pertaining to income taxes? Solution: Requirement 1 Since taxable income is less than pretax accounting income‚ a future taxable
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PERSONAL COPY/ NOT FOR SALE OR CIRCULATION (Session 2012-13) INTRODUCTION HISTORY OF INCOME-TAX: 1. India’ trust with income tax dates back to 1859 when James Wilson‚ Finance member in the Council of India‚ came to the country to establish the tax structure‚ a new paper currency and to remodel the finance system. 2. A bill imposing tax on profits from property‚ professions‚ trades and offices was passed by the Legislative Council of India. It received the assent of the Governor General on July
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NATIONAL INCOME:- What is National Income? National Income is the sum that is total money value of all the goods and services produced in one accounting year. So when we talk about goods and services we are only talking about the final goods and services and not the semi processed‚ when we take the money value of all the goods and services produced within the domestic boundary on India only and to not other countries. CONCEPTS OF NATIONAL INCOME IN TERMS OF MARKET PRICE:- 1) Gross Domestic
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about income inequality. It is global income inequality is increasing. Besides that that’s is more information about measurement for the income inequality The relationship between the income inequality and economic growth Technological change and globalisation partly on income inequality‚ Way to reduce the income inequality‚ Causes of income inequality‚ and High income inequality gap-Latin America. Mostly it is all about the income inequality in this assignment is telling about the income inequality
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Income Level Income level has an effect on behaviors‚ including what people buy and how much they will pay. According to Bieker‚ consumer spending forms two-third of all spending in the economy. A change in consumer income will result in consumers buying more or less of product at all possible prices and also cause a change in demand and a shift of the demand curve. If the income and savings of consumers are high (the high consumer spending level)‚ their purchase is parallel or even more expensive
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Group Assignment On Computation of Income and Tax Liability of an Individual Subject-ACT 322 Section-2 Prepared For Professor Mahbubur Rahman (MbR) Prepared By Nymul Hasan Taseen (083 414 030) Sharafat Halim (091 0615 030) Abu Syed Arik Kibria (091 0622 030) Abdullah Mohammed Zoboer Abhi (092 0096 030 - From Section 1) Date of Submission – 21st April‚ 2012. Of all the direct taxes‚ Income Tax ranks foremost. By nature and heritage‚ many of us tend to be just “free riders”
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national income …………………………………………………3 1.2. Overview of issues of National income in the world………………………………………3 SECTION 2……………………………………………………………………………………5 2.1. Definition of national income ………………………..........................................................5 2.2. Factors that determine national income…………………………………………………...6 2.3. Methods to measure national income………………………………………………………6 2.4. Treatment of national income from abroad………………………………………………...8 2.5. Uses of national income statistics
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