Boar Brand Corporation is a domestic corporation engaged in the manufacturing of milk products. Boar Brand had the following transactions for the quarter: Sold milk to retailers P48,000,000 Disposed a milk evaporator machine (Cost is P50,000,000, proceeds are P60,000,000) P10,000,000 Distributed milk to its shareholders as part of their property dividends P14,000,000 Transferred a milking machine to a creditor as payment of debt P8,000,000 1. How much is output VAT for the taxable quarter?
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Boar Brand Corporation is a domestic corporation engaged in the manufacturing of milk products. Boar Brand had the following transactions for the quarter:
Sold milk to retailers P48,000,000
Disposed a milk evaporator machine (Cost is P50,000,000,
proceeds are P60,000,000) P10,000,000
Distributed milk to its shareholders as part of
their property dividends P14,000,000
Transferred a milking machine to a creditor as
payment of debt P8,000,000
1. How much is output VAT for the taxable quarter?
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- Sara Togas sells all its output to Federal Stores. The following table shows selected financial data, in millions, for the two firms: Sales Interest Payment Net Income Assets at Start of Year Federal Stores $117 $21 $27 $67 Sara Togas 37 18 21 28.5 Assume tax rate is 35%. a. Calculate the sales-to-assets ratio, the operating profit margin, and the return on assets for the two firms. (Do not round intermediate calculations. Round the sales-to-assets ratio answers to 2 decimal places. Enter the operating profit margin and return on assets answers as a percent rounded to 2 decimal places.) b. Now assume that the two companies merge. If the Federal continues to sell goods worth $117 million, how will the three ratios change? (Do not round intermediate calculations. Round the sales-to-assets ratio answer to 2 decimal places. Enter the operating profit margin and return on assets answers as a percent rounded to 2 decimal places.)On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 60,000. RoadTime's December 31, 20X1, Trial balance in SFr is as follows: Debit (SFr) Credit (SFr) Cash 7000 Accounts Receivable 20000 Receivable from Popular Creek 5000 Inventory 25000 Plant and Equipment 100000 Accumulated Depreciation 10000 Accounts Payable 12000 Bonds Payable 50000 Common Stock 60000 Sales 150000 Cost of goods sold 70000 Depreciation Expense 10000 Operating Expense 30000 Dividend paid 15000 Total SFr282,000 SFr 282,000 Additional Information The receivable from Popular Creek is denominated in Swiss francs. Popular…On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 60,000. RoadTime's December 31, 20X1, Trial balance in SFr is as follows: Debit (SFr) Credit (SFr) Cash 7000 Accounts Receivable 20000 Receivable from Popular Creek 5000 Inventory 25000 Plant and Equipment 100000 Accumulated Depreciation 10000 Accounts Payable 12000 Bonds Payable 50000 Common Stock 60000 Sales 150000 Cost of goods sold 70000 Depreciation Expense 10000 Operating Expense 30000 Dividend paid 15000 Total SFr282,000 SFr 282,000 Additional Information The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $4,000 payable to RoadTime. Purchases of…
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