What is money laundering in the Philippines? What are it's advantages and disadvantages? What do we gain in money laundering here in the Philippines? 1000 words
Q: Define selling cost. Give five examples of selling cost.
A: The expenditures paid by the producer to encourage the sale of the item are referred to as selling…
Q: Q4. T&T produces product 'X' as a part of its main product. Each year, the company produces 75,000…
A: Solution Concept While taking a make or Buy decision , the total cost of making a product and buying…
Q: An unmarried taxpayer with AGI of $120,000 in 2021 has a tax liability of $21,000. The taxpayer's…
A: The explanation about the prepaid tax during the Fiscal year: According to The IRS, taxes must be…
Q: 1. A brand new bulldozer was bought for P 5.50 million with a salvage value of P 500,000 after six…
A: Depreciation can be termed as wear and tear of an asset due to which a portion of cost of the asset…
Q: The federal corporate income tax rate is 35 percent and firms may carry-back losses for two years…
A: Net taxes paid is amount that need to be paid to the government. Tax refund or tax offset is the…
Q: 24%, what is Patricia's gross tax liabi
A: First 1100 qualifies at standard rate i.e, 10% Excess of 2200 is at guardians rate
Q: Management of Great Springs Bottled Water Company has asked you, the controller, to develop a…
A: In this question, we will make Income statement of Great Springs Bottled Water and find out the…
Q: At the beginning of the year, Canary.com bought a shed, a machine, and a trailer. The shed initially…
A: Amount to be capitalized for shed Cost 20,300 Add: Renovation Cost 540…
Q: Conceptual framework was 1st adopted by IASB, on what particular date?
A: The Conceptual Framework sets out -the fundamental concepts for financial reporting that helps to…
Q: CELEBI CORP. has the following sales forecast for the first four months of 20X9. January February…
A: You have posted multiple parts, so as per Bartleby policy only the first three parts are answered,…
Q: ou are proposing a new project that involves buying a new grinding machine. You are confident in…
A: The probability has to be used to calculate the amount of salvage value to be used when it is not…
Q: Question 2 Cicero Supplies Ltd uses a system of perpetual inventory. Regarding the migration of one…
A: FIFO METHOD (First In First Out) Date Particulars Receipts Issue Balance Qty…
Q: AJ Company makes three products. Current selling price per unit, variable cost per unit, and machine…
A: Contribution Margin per unit=Selling Price per unit-Variable cost per unit
Q: John Matthew filed a fraudulent income tax return for the year 2021 on April 11, 2022. The Burea
A: As per the procedure of BIR , the individual have to file self-assessed return…
Q: What is the difference between favorable and unfavorable book -tax differences?
A: Whenever reconciliation book earnings to taxable income, favorable book-tax differences were indeed…
Q: Accounts Debit Credit (OMR) (OMR) Cash 120,000 Capital n00,000 Prepaid insurance 5600 Salary expense…
A: Lets understand the basics. Income statement is prepared by the business to know the net result of…
Q: Cameron Corporation purchase land for $434,000. Later in the year, the company sold a different…
A: Cash Flow Statement (Indirect Method) Cash Flow from Operating Activities Amount (In $) Amount…
Q: Nakashima Gallery had the following petty cash transactions in February of the current year.…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: 5. Ericson bought a new motorcycle worth P1.220 million. What is the estimated scrap value of the…
A: Depreciation is the fall in the value of a tangible asset over time due to normal wear and tear,…
Q: Which of the following should be included as part of outstanding checks in preparing bank…
A: An outstanding check is something that has been issued but has not been cashed-deposited by the bank…
Q: When a manager seeks to achieve personal departmental objectives that may work to the detriment of…
A: Solution Goel conflict is having a two or more goals leading to cause of conflict in the…
Q: Morgan and Company has planned a cash budget for the third quarter of 2004. The cash balance on July…
A: Introduction A cash budget is estimation of future cash cash flow of a company or organisation
Q: The Boxwood Company sells blankets for $60 each. The following was taken from the inventory records…
A: In case of LIFO method latest goods will be sold first.
Q: ILLUSTRATION 2: N Stock of Finished Goods January 1st 12,660 December 31st 17,845 Stock of Raw…
A: The trading and P&L Account is a part of the final account that determines the gross and net…
Q: SydMel Ltd commences operations on 1 July 2020. One year later, on 30 June 2021, the entity prepares…
A: The calculation of the deferred tax while taking consider the accounting profit with the adjustment…
Q: 1. A company uses the indirect method to determine its cash flows from operating activities. Use the…
A: Introduction: Statement of cash flows: All cash in and out flows are shown in cash flow statements.…
Q: Calculate the horizontal (trend) analysis, and horizontal % change for 2020, 2019, 2018 in excel.…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Federated Manufacturing Incorporated (FMl) produces electronic components in three divisions:…
A: Unit Cost from Internal Sale=Price to outside buyers+Contribution margin lost per unit
Q: Maritza (which means “star of the sea") Joseph is preparing the 2022 budget for one of CK's kayaks.…
A: Production during the year = Closing inventory - opening inventory +Sales To calculate the sales…
Q: What role does a corporation audited financial statements Play in determining it's taxable income?
A: Whatever financial statement that has already been audited by a certified public accountant (CPA) is…
Q: XYZ Company's policy for the purchases of any asset over the value of $3,000 requires the purchasing…
A: Solution concept There are various internal control put in place by the organization for prevention…
Q: Units sold = 8700 games units Selling price per unit = $ 69 Variable expenses = $ 49 Fixed expenses…
A: Formula: Net income = Total Revenues - Total Expenses
Q: Question 1 UMU has demand for 1400 water pumps each year. The cost of a water pump to LUMU is $400.…
A: Economic order quantity is the optimal quantity to be ordered to minimize the overall cost.
Q: The manufacturer of a product that has a variable cost of $2.50 per unit and total fixed cost of…
A: The break-even point (BEP) appears to be an accounting term that refers to the point where a…
Q: What critical assumptions has TESLA made to value inventory? Does TESLA use FIFO or LIFO? Explain…
A: Inventory Valuation There are different method which are adopted in the valuation of the inventory.…
Q: ABC Company that operates 20 luxury service cars around the metro area. Its clientele consists of…
A: Formula under High low method: Variable cost per unit = (Highest activity cost - Lowest activity…
Q: Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unitquantity of…
A: Variance refers to the difference of budgeted and actual figures for items of revenues and expense.
Q: REVISED WITHHOLDING TAX TABLE FOR COMPENSATION DAILY 1 2 3 4 5 6 Compensation Range 685 and…
A: Compensation refers to the remuneration which is paid by the employer to its employee in against of…
Q: Determining Amounts for Items Omitted from Income Statement One item is omitted in each of the…
A: Lets understand the basics. Gross profit is a profit generated from the sales. In other words, it is…
Q: The bank statement for Farmer Co. indicates a balance of $7,735.00 on June 30. After the journal…
A: Bank reconciliation will reconciles bank balance with balance as per books of accounts.
Q: Problem 18-02 Over the last five years, corporation A has been consistently profitable. Its…
A: Income tax is the tax imposed on the income earned by the individuals or firms. The corporate tax…
Q: Rodgers Company gathered the following reconciling information in preparing its May bank…
A: A bank reconciliation statement is prepared by the management at a particular time period. It helps…
Q: costs assigned to units in inventory are typically lower under absorption costing than under vanable…
A: As per the guidelines, only one question is allowed to be solved so I am answering the first…
Q: Using the following information: a. The bank statement balance is $3,351. b. The cash account…
A: Bank reconciliation is the method of validating all cash account balances in an entity's accounting…
Q: Fiona Sporty uses a purchases journal, a cash payments journal, a sales journal, a cash receipts…
A: >Transactions are first of all recorded in a journal as they occur. >Some entities prepare…
Q: Entries for Notes Receivable, Including Year-End Entries The following selected transactions were…
A: The accrued interest is the interest revenue earned but not received yet. It is recorded as current…
Q: Judy Company uses the retail inventory method to approximate its ending inventory. The following…
A: It is one of the inventory valuation method to determine the value of inventory at store. This…
Q: The following table lists several corporate bonds issued during a particular quarter Bank of Company…
A: Interest=Principal×Rate×Time100
Q: entxies JOUnal Green Company sells goods to Thumb Inc. on account on January 1, 2017.The goods have…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Determine the amount to be paid in full settlement of each of the following invoices, assuming that…
A: As per the guidelines, only three subparts are allowed to be solved. Please resubmit the questions…
Step by step
Solved in 4 steps
- 1. What is the role of the government in the promotion of the entrepreneurship? 2. How can entrepreneurship be a contributing factor to the economic development of a country?3. Discuss the factors that favor doing business in the Philippines?1. Anti-Money laundering regulations in Jamaica 2. Impact of AML on the financial sectorIs bank of the philippine island a good to invest in?
- How has money laundering affected internatioal trade? Answer should discuss this effect between developed and emerging economies. Use current article to support answer.What information would one use to determine the type of economic system that a country has? (Multiple choice) 1. The information needed would be the rate of inflation and the gross domestic product figures. 2. The information needed would be the breakdown on who owns the business in the country and how much control the government has upon business regulations, taxes, etc. 3. The information needed would be the gross domestic products figures and consumer price index figures.Are merchant banks relevant to the Ugandan economy?
- Why Liberal and business-friendly economy and Strategic business location in the Philippines is an advantage to foreign investors?1.How has the global marketplace changed because of recent developments in markets, finance, and labour? 2. What Global Trends are currently being influenced in Belgium?How do financial markets that run freely and efficiently affect the standard of living in a country?