Accounting Answers

Mr A wish to know in detail about fundamentals of accounting subject imagine that you have got an opportunity to orient Mr.A kindly to the needful

With reference to financial management, write a short essay(600 words) on the concept of sources of finance.

NB:references must be included.

With reference to financial management, write a short essay on the concept of capital budgeting as a key fundamental in respect of managers’ maximising corporate value for shareholders. Maximum 600 words and include references.

With reference to financial management, write a short essay on the concept of capital structure as a key fundamental in respect of managers’ maximising corporate value for shareholders. Maximum 600 words and include references.

QUESTIONS:

Identify whether the following independent transaction is a book or a bank reconciling. In addition, determine the amount of the error and state whether the amount will be added or deducted in the preparation of the bank reconciliation (use adjusted method):

1. Eagle Repairs received P1,500 from Jane. The bookkeeper recorded the amount as P500.

The bank teller deducted CK 123 for P3,500 from the account of Eagle. The said check was issued by Egles Company a different

4. The bookkeeper of Eagle recorded Check No. 345 in the Cash Disbursement Journal as P5,205. The correct amount of the check

5. The deposits of Eagle earned interest of P100 for the month. Eagle does not have knowledge of interest earned until it receives

the bank statement.

Answer:

2. Nation Bank collected from the customer of Eagle the sum of P5,000 representing payment of the said customer to Eagle. No entry

was made in the books of Eagle.

Answer: 3.

depositor of the bank.

Answer:

was P5,250.

Answer:

Answer:

A. Compute for the tax dues on compensation and business income.

1. Ratsa Man, is the financial analyst of PAYT Company. He earned annual compensation in 2019 of 1,800,000.00, inclusive of 13th month and other benefits in the amount of 130,000.00 but net of mandatory contributions to SSS and Philhealth. Aside from employment income, he is engaged in a trading business, with gross sales of 2,800,000- His cost of sales and operating expenses are 1,200,000.00 and 800,000.00, respectively, and with non-operating income of 50,000.00.

A. In 2020, DRP Company has two employees- Bong Ga and Bato Din. Bong and Bato's gross monthly compensation is 60,000 and 70,000 respectively (net of mandatory contributions). Both are paid on the 30th of the month.Compute for the annual income tax of Bong and Bato supposed that DRP Company withholds periodically.

A. Compute for the monthly income tax payroll deductions of Bong Ga and Bato Din.

1. In 2020, DRP Company has two employees-Bong Ga and Bato Din. Bong and Bato's gross monthly compensation is 60,000 and 70,000 respectively (ndt of mandatory contributions). Both are paid on the 30th of the month.

1. Who are compensation earners?

2. How do you compute taxable income of compensation earners?

3. Who are minimum wage earners? How are they being taxed?

1. What government institution formulates fiscal policy to ensure adequate funding of our country?

2-6. Name at least 5 bureaus, agencies or government corporations who are under the supervision of no. 1.

7. What government agency is tasked to assess and collect all national internal revenue taxes, fees, and charges, and to enforce all forfeitures, penalties, and fines connected therewith?

8-10. Name the 2019 top 3 corporate taxpayers in the Philippines.