accounting purposes than they are for tax purposes. Indicate whether the items are permanent differences OR temporary differences. For temporary differences‚ indicate whether they will create future tax assets or future tax liabilities 1. Advance rental receipts Temporary difference‚ deferred tax asset 2. Membership costs in a health club Permanent difference 3. Estimated future warranty costs Temporary difference‚ deferred tax asset 4. Excess of contributions over pension expense Temporary
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Technopreneurship MWF 11:45-1:10 PHILIPPINE FRANCHISE LAW By : Entrepreneur PHILIPPINES (2009) I. The franchisee should withhold a 20 percent final tax on all payments made to the franchisor‚ including the initial franchise fee. The franchise fee and the monthly royalty payments paid by the franchisee to the franchisor are subject to a 20 percent final tax‚ based on section 24(B) of Republic Act No. 8424‚ otherwise known as the 1997 National Internal Revenue Code (NIRC). The imposition of
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of the land (for example‚ to legally use and transfer the title of the land/property)‚ and must also assume the risks and responsibilities of a landowner (for example‚ any losses as a result of natural disasters and the obligation to pay property taxes). On the other side of the relationship‚ a leasehold interest only exists when a landowner agrees to pass some of his rights on to a tenant in exchange for a payment of rent. If you rent an apartment‚ you have a leasehold interest in real estate. If
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COMPREHENSIVE EXAMINATION E PART 5 (Chapters 18-21) Approximate Problem Topic Time E-I Long-Term Contracts. 15 min. E-II Installment Sales Method. 20 min. E-III Deferred Income Taxes. 25 min. E-IV Pensions. 15 min. E-V Leases. 25 min. 100 min. Problem E-I — Long-Term Contracts. Edwards Company contracted on 4/1/14 to construct a building for $2‚400‚000. The project was completed in 2016. Additional data follow: 2014 2015 2016 Costs incurred
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RE Finance Bring to class. Due on 3/19. PART 1 Mac Development Corporation Problem Set It will help the discussion if you bring an extra copy of your answers to class & the case for reference Download case (approx. $4 charge) Mac Development Corporation Case Study Reference https://cb.hbsp.harvard.edu/cbmp/access/17117433 Four Major Areas 1. ID Risks a. “Imagine that you are a real estate developer who saw the 41-acre site the week before Dick McCaffrey did in August
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Taxes Dorothy Cartwright DeVry University Taxes As the owner of PSG Tax Services‚ Inc. it is my duty to provide the knowledge and understanding of taxes to my clients. This week I had the pleasure of meeting Jackson and Kara Erb. The newlywed couple showed drastic signs of having no knowledge of taxes or why the government issues taxes. A “tax can be defined as a payment to support the cost of government” (Jones‚ 2014). Taxes are implemented by our government to raise revenues
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Over the past five years (2008-2012)‚ the Indian Footwear Retail Market has been growing at a rapid pace. The Indian Footwear retail is the fastest growing sector among other sectors of Indian market and is expected to sustain its growth in the coming years. “Indian Footwear Retail Market Forecast to 2017” is a comprehensive research that contains detail statistics‚ in-depth analysis‚ and quality research on Indian Footwear Retail market. The report categorizes Indian Footwear Retail Market
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to re-measurement of the value of Cyberzone Propety Inc. The company’s liabilities also exhibit same upward trend except for income tax payable which decrease to 90% of its previous year. It was due to the application of creditable withholding taxes on the tax due for the year. The company
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Week Four - Textbook Assignment ACC/421 Date Instructor Problem 5-3 EASTWOOD COMPANY Balance Sheet December 31‚ 2010 Assets Current Assets Cash $ 41‚000 Accounts Receivable $163‚500 Less: Allowance for Doubtful Accounts $ 8‚700 $ 154‚800 Inventory $ 208‚500 Prepaid Insurance $ 5‚900 Total Current Assets $ 410‚200 Long-term Investments Investments in Stock and Bonds
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CHAPTER 2 THE NATURE OF COSTS P 2-1: Solution to Darien Industries (CMA adapted) (10 minutes) [Relevant costs and benefits] Current cafeteria income Sales Variable costs (40% × 12‚000) Fixed costs Operating income Vending machine income Sales (12‚000 × 1.4) Darien’s share of sales (.16 × $16‚800) Increase in operating income P 2-2: $12‚000 (4‚800) (4‚700) $2‚500 $16‚800 2‚688 $ 188 Negative Opportunity Costs (10 minutes) [Opportunity cost] Yes‚ when the most
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