Answer:
C.completeness
Explanation:
Occurrence means transactions and events that have been recorded or disclosed have occurred and relate to the entity.Existence means whether or not accounts balances and related disclosures related Assets, liabilities and equity interests exist in the financial statements.
Completeness means there are no unrecorded transactions, events and disclosures and all transactions that have occurred has been included in the general ledger/financial statements
Valuation or allocation means that assets, liabilities and equity interests are included in the financial statements at appropriate amounts and any resulting valuation or allocation adjustments are appropriately recorded and related disclosures have been appropriately measured and described.
In this question, interest on sample of paid notes have been traced to the general ledger account, to check that whether the interest on the selected sample has been included in the general ledger and financial statements.Thus the answer shall be C.completeness
Answer: Option B
Explanation: In simple words, revenue refers to the income received by an organisation by performing its main activities. It is the amount of cash inflow made by the company before deducting the expense incurred to generate those inflows.
It is also sometimes referred to as gross profit or sales.
Thus, from the above we can conclude that the correct option is B.
Answer:
Check the explanation
Explanation:
Particulars Amount in $
A. Gross Estate 8600000
Less: deductions (funeral & administrative tax) 70000
B. Taxable estate 8530000
c. Gift-Adjustable Taxable estate value:
Taxable estate 8530000
Charities will be deucted from tax calculation 1000000
gift-adjusted taxable estate value 7530000
D. estate would be subject to tax 7530000
E. estate tax liability Calculated below 876000
For estate more than 53400000 tax will be charged at 40%
So, same is 40% of excess on 53400000
Taxable estate before threshold after deducting 53400000 from estate that would be subject to Tax 2190000
Tax at 40% of excess value 876000
Explanation:
that the company and employees are apply by all government equal rights laws
Answer: See explanation
Explanation:
Sales = $222,000
Less: Cost = $96,500
Less: Depreciation = $26100
EBIT = $99400
Less: Tax = 24% × $99400 = $23856
Net income = $75544
A. EBIT+Depreciation-Taxes
EBIT = $99400
Add: Depreciation = $26100
Less: Tax = $23856
Operating cashflow = $101644
B. Top-Down
= EBIT(1 - t) + Depreciation
= $99400(1 - 0.24) + $26100
= $75544 + $26100
= $101644
C. Tax-Shield
= (Sales - Cost)(1-t) + Depreciation (t)
= ($222000 - $96500)(1 - 0.24) + $26100(0.24)
= ($125500 × 0.76) + $6264
= $95380 + $6264
= $101644
D. Bottom-Up
= Net income + Depreciation
= $75544 + $26100
= $101644
