User Account

All Pages

Find how much is the gross income

Assignment Help Accounting Basics
Reference no: EM132809699

Problem 1: Veteran Poultry employs the cash basis of accounting for its poultry business. For the taxable year 2020, it has the following data: Cash sales on livestock raised P500,000; Sales of livestock purchased 250,000; Cost of sales 300,000; Other income 100,000. How much is the gross income in 2020?

Select one:

a. P850,000
b. P750,000
c. P550,000
d. P450,000

Reference no: EM132809699

Questions Cloud

What accounts receivable for may would be : Accounts are collected 40% in the month following the sale and 60% collected the second month. Accounts receivable for May 31 would be
How much is the income tax payable for light company : The present value factor of 12% for 3 years is 0.71178 d. Christmas bonus, 13th month pay and cash gift of 50,000. How much is the income tax payable?
Conducting a job analysis : Explain the steps required when conducting a Job analysis? Explain the core sections of a job description?
Summarize the mindset theory : Summarize the Mindset Theory - Fixed Vs. Growth Mindset (Dweck) and how to apply it in developing training.
Find how much is the gross income : How much is the gross income in 2020? Veteran Poultry employs the cash basis of accounting for its poultry business. For the taxable year 2020
Determine the existence of gender inequality : What perceptions of the existence of gender inequality exists in the world around us and why?
What types of reports each form of accounting generates : The types of reports each form of accounting generates and descriptions of those reports? The relationship between financial and managerial accounting?
Components of the job creation process : Differentiate between the complexity of preparing a qualitative and a quantitative duty or task. You must address the subjective/objective nature of each type o
Process public patients without a medicare card : List the steps that you would take to process public patients without a Medicare card or number and who can you contact for a public hospital situation?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd