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3 years ago

How taxation and legislation impact positively and negatively on a company?

1 answer:

wel3 years ago

6 0

Positive : Taxation could be used to exclude some expenses that could be putted in the income statement

Negative : Taxation will cut out some part of the company's annual revenue

hope this helps

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Carillo Industries collected $108,000 from customers in 2017. Of the amount collected, $25,000 was for services performed in 201

Elis [28]

Answer and Explanation:

The computation is shown below;

But before reaching to the final answers, first do the following calculations

Cash collected $108000

Add Services performed in 2017(not collected) $36000

less Services performed in 2016(collected in 2017) $25000

Revenue for 2017 $119,000

Cash paid in 2017 $72,000

Add Expense incurred not yet paid for 2017 $42000

Less Expense paid for 2016 -$30000

Expense for 2016 $84000

Now

a. Cash basis

Revenue $108000

Less Expenses -$72,000

Net income $36000

b. Accrual basis

Revenue for 2017 $119,000

Less Expenses for 2017 $84,000

Net income $35,000

8 0

3 years ago

On January 1, a machine with a useful life of five years and a residual value of $5,000 was purchased for $25,000. What is the d

emmasim [6.3K]

Answer:

c. $4,000

Explanation:

The computation of the depreciation expense for year 2 under straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($25,000 - $5,000) ÷ (5 years)

= ($20,000) ÷ (5 years)

= $4,000

In this method, the depreciation is same for all the remaining useful life i.e $4,000 is charged for remaining three years

7 0

2 years ago

Which of the following is not a liquid investment

evablogger [386]

UHH NO SElectionS? WELL THEN.... IDK

8 0

2 years ago

Geo Co. purchased a building for $400,000. In addition, Geo paid $35,000 for taxes and lawyer fees. Geo also paid $60,000 to mod

ycow [4]

Answer: $495,000 User “Parrain” is the person who solved this question

Explanation: ALL costs that went into the DIRECT acquisition of the asset as well as COSTS TO SET IT UP for use by the firm should be accounted for in the amount recorded. In this case that would mean that the cost price, the closing fees and the modification fees all need to be accounted in the final amount. That would be $400,000 + $35,000 + $60,000= $495,000$495,000 should be recorded as the building's cost.

4 0

2 years ago

Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits an

ikadub [295]

Answer:

$ 226.04

Explanation:

Given:

Paying fund, FV = $ 30000

Interest rate, i = 2%

Time, t = 10 years

Now,

$\textup{PMT}=\textup{FV}[\frac{i}{(1+i)^n-1}]$

since, the payment is made monthly

thus,

n = 10 × 12 = 120 months

i = 2% / 12 = 0.02 / 12

on substituting the values in the above equation, we get

$PMT={30000}[\frac{\frac{0.02}{12}}{(1+{\frac{0.02}{12}})^{120}-1}]$

PMT = $ 226.04

3 0

2 years ago