What form is required?Explain why this is the correct form?
Q: What are the responsibilities of an originator?
A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…
Q: They apply to
A: Examples of like-kind properties: The like-kind properties should include assets that fall under the…
Q: Provide examples of how finacial statments are useful and or how they are used?
A: Financial statements refer to such statements which report the profitability and the financial…
Q: What is the purpose of EDI?
A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…
Q: Along what two dimensions can we classifytrading procedures?
A: Trading procedures: It is the methods and available venues from where trading (Buying and selling of…
Q: are we also user of accoutanting, if yes how?
A: Financial Accounting provides various useful information to various user groups which helps them in…
Q: What are the scopes of the IPSASs?
A: Financial Accounting- It is the branch of accounting that records events of financial nature that…
Q: What is meant by the term antidilution? Give an example.
A: An increase in the earnings per share refers to anti-dilution. This results on account of the…
Q: What are the steps to achieve conformance to specification?
A: Conformation to specification: This refers to the regulatory requirements of an organization. The…
Q: When is nonfinancial information relevant?
A: Non-Financial information: Non- Financial decisions are qualitative in nature and do not include…
Q: What are the two preconditions for the use of EAC?
A: It is also called as EAC, is the yearly expense of owning and preserving a asset that is calculated…
Q: What does the disclosure principle require?
A:
Q: What does PFMA stand for?
A: Solution- PFMS [Public Financial Management System] PFMS stands for Public financial Management…
Q: Why is a source document important? List some examples of source documents.
A: Source documents refers to the documents pertaining to a business transaction. It captures the key…
Q: explain with detailed reason.
A: NCAA stands for National Collegiate Athletic Association. NCAA is a nonprofit organization that…
Q: What are the relative merits of input from source documents and direct input?
A: Definition: Direct input: The data that are directly inserted into the system from the source data…
Q: Explain preemptive right
A: Answer: A pre-emptive right is a benefit that can be granted to other owners in a company that gives…
Q: What is the purpose of the Maceda Law?
A: The Maceda Law, also known as The Realty Installment Buyer Act or Republic Act 6552 is the law that…
Q: Define agency problems,
A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…
Q: Explain thoroughly why it is the answer.
A: solution : liabilities are : correct answer is present obligation arising from past events and…
Q: What is an estoppel? Why is it used?
A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…
Q: Explain the purpose of IFRS for SMEs and how it differs from full IFRS.
A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…
Q: Highlight concept of faithful representation and is it valid or not?
A: The concept of Faithful representation advocates that the financial statements and information…
Q: What are the two inputs required in the preparation of the pro forma statements?
A: Pro forma financial statements are reports that are formed based on hypothetical situations in the…
Q: What are the functions of the PCAOB?
A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…
Q: se explain it properly
A: Given: To find the capital balances as, Capital Balances of Banner = P 65,000 and Strange = P 35,000…
Q: What are the Basic Concepts and Terminology of Replacement-Analysis?a
A: Assets: Assets are those items that provide value for money and future economic benefit for an…
Q: Explain recourse
A: A recourse is a legal right to demand a compensation or repayment. it is an legal agreement that…
Q: what is the purpose of the conceptual framework?
A: The conceptual framework is comprised of six Financial Accounting Concepts statements that serve as…
Q: This is known as:
A: Fund refers to the money which should be kept aside for meeting some specific purpose. In this, the…
Q: Contrast the advantages and disadvantages of CASE tools. What should determine whether CASE is used?
A: CASE Tools: CASE stands for Computer Aided Software Engineering Tools. CASE is used for the…
Q: What is full form of CIP? Explain about it.
A: Carriage and Insurance Paid to is the full form of CIP
Q: What is ESG reporting and why does it matter?
A: Transparency on ecological and socially responsible actions is becoming more popular. Environmental,…
Q: What exactly is impairment? Could you provide an example?
A: THE ANSWER:
Q: What is the correct amount of nventory?
A: Goods in transit, shipped at FOB shipping point are to be removed from inventory because they left…
Q: What are Substantive Procedures?
A: Auditing: Auditing refers to the procedure for providing independent report over the presentation…
Q: What should you do? What is the YTM of the
A: The yield to maturity on a bond is the yearly annual rate of interest earned if the bond is held…
Q: What does the IAS 2 explains?
A: The answer is provided as follows:
Q: Which of the following is a correct statement?
A: When a sole property dies during the financial year leaving the estate that is known as Deceased…
Q: a) Define the term contra entries?
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Why are the realization and matching principles important? Only the importance
A: Accounting principles: These are the assumption, concepts, and guidelines necessary to prepare and…
Q: Why is the content of a proxy statement considered to be so important?
A: Importance of content of a proxy statement: Most of the significant actions undertaken by a company…
Step by step
Solved in 2 steps
- Danny received the following interest and dividend payments this year. What amount should Danny include in his gross income? a. 2,500 b. 1,500 c. 3,700 d. 2,200Education Tax Credits (LO 7.5) Janie graduates from high school in 2021 and enrolls in college in the fall. Her parents (who file a joint return) pay $11,475 for her tuition and fees. If required, round your computations to the nearest whole value. Question Content Area a. Assuming Janie's parents have AGI of $165,600, what is the American Opportunity tax credit they can claim for Janie?$fill in the blank fd3318fe0f9500f_1 Question Content Area b. Assuming Janie's parents have AGI of $66,240, what is the American Opportunity tax credit they can claim for Janie?$fill in the blank fa1f44f99032fa3_1Grace Kelley earns $2,000 per week. She is married and claims 2 exemptions. What is Grace’s income tax? Use the percentage method. (Use Table 9.1 and Table 9.2.) (Round your final answer to the nearest cent.) One Withholding allowance 79.80 weekly Please use tables for withholding 2018
- Education Tax Credits (LO 7.5) Janie graduates from high school in 2022 and enrolls in college in the fall. Her parents (who file a joint return) pay $4,600 for her tuition and fees. If required, round your computations to the nearest whole value. a. Assuming Janie's parents have AGI of $172,200, what is the American Opportunity tax credit they can claim for Janie?Find the amount of income tax withheld from Karen's semimonthly gross paycheck of $1,737.50 using the percentage method tables in Exhibit 9-1 and Exhibit 9-2 from your text. Karen is married and claims 4 withholding allowances. $56.49 $77.75 $132.48 $139.50Mr. Essam works in the Arab bank with monthly base salary 510 $ and bonus addition high cost of living amounted 80% of base salary. Bonus addition for cash risk 3% of base salary monthly. His contribution of saving box with 5% of base salary, & social security contribution (pension) 27$. Mr. Jehad get 13 salaries yearly (banking system). 1. Required: calculate the income tax according income tax law 17/2004 if you know that he is married + 4 (one of them study at IUG by himself, he lives in a rented housed amounted 1600 $ per year. He has a new car a mounted 15000 $. It was bought by a loan from Arab bank with interest 3% per year for 5 years
- Check my work mode: This shows wh Return to question Arno and Bridgette are married and have combined W-2 income of $72,441. They received a refund of $418 when they filed their taxes. How much income-tax did their employers withhold during the year? Use the tax tables. Multiple Choice О $5,345, О $4,927. $4,509. The answer cannot be determined with the information provided. www ×o?invoker=&takeAssignmentSessionLocator=&inprogress=false 它☆ еBook Problem 9-39 (LO. 6) Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account is now worth $112,000. Assume that Jimmy meets the income limitation at the time of the contributions. How much of these funds may Jimmy withdraw tax-free? Previous Next Check My Work 10:10 PM 1/23/2022 32 F Mostly clearAnna has the following income for the quarter: a. Professional income P80,000 b. Income from her business P30,000 c. Compensation income P40,000 d. Interest income from bank deposit P10,000. 1. What amount of income will Anna report in her quarterly income tax return? a. P80,000 b. P110,000 c. P120,000 d. P150,000 2. If Anna, opted to use 8% rate, how much is her income tax due in her quarterly ITR? a. P6,400 b. P8,800 c. P9,600 d. P12,000
- Data: In 2020, Elaine paid $2,160 of tuition and $900 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband - AGI $165,500. Question: What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books ? Thx, StephanieRequired information [The following information applies to the questions displayed below] Allie received a $50,000 distribution from her 401(k) account this year that she established while working for Big Stories, Incorporated. Assume that her marginal ordinary tax rate is 24 percent. c. Allie is 67 and retired. How much tax and penalty will Allie pay on the distribution? Tax and penalty 3Essam works in the Arab bank with monthly base salary 400 $ and bonus addition high cost of living amounted 80% of base salary. Bonus addition for cash risk 3% of base salary monthly. His contribution of saving box with 5% of base salary, & social security contribution (pension) 27$. Mr. Jehad get 13 salaries yearly (banking system). Required: calculate the income tax according income tax law 17/2004 if you know that he is married + 4 (one of them study at IUG by himself, and his parents (father & mother) live with him. He has a new car a mounted 15000 $. It was bought by a loan from Arab bank with interest 3% per year for 5 years