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Following emoluments are received by Ms Sangeeta during the previous year ended on 31.3.2021
Basic salary 250000
Dearness Allowance 10000
Commission 2500
Entertainment allowance 2000
Medical expenses reimbursed 25000
Professional taxes paid 2000(Rs1000 paid by employer)
Ms. Sangeeta contributes Rs 2000 towards the Recognized Provident Fund
She has no other income.
Compute the income from salary for A.Y 2021-22, and give reasons and explanations wherever required, If Ms. Sangeeta is a Government employee.
Three partners choose to go the start-up way. They run a chain of Pet Spa across Mumbai and Pune. For the accounting year 2022, their business observes increasing prices for materials. Hence, while preparing their financial statements, the three partners had varying objectives behind the method they should adopt for pricing the materials.
Objective I: The partners wished to hypothecate inventory and take a loan. Hence, a higher pricing of ending inventory in the business’ balance sheet would be desirable.
Objective II: The partners would wish to attract lower taxes on the business’ profit and hence a lower profit before tax would be desirable.
Discuss in brief any five material pricing methods that businesses may adopt. Identify the pricing methods that would achieve objectives I and II.
Mr. Sharma, founder of Pioma Plastics desires to increase the profit of the business in the coming year. He calls for a meeting with the managerial-level personnel and explains them that the selling price of their product is based on the prevailing market prices of their competitors. He seeks their advice on whether they should work backward on optimizing their costs by determining a standard cost for each of the components. Explain the process of standard costing to the founder as one of the managerial-level personnel. Would following standard costing help the founder in increasing the profit of the business?
Suppose an economy has 10,000 people who are not working but looking and available for work and 90,000 people who are working. What is its unemployment rate?
Now suppose 4,000 of the people looking for work get discouraged and give up their searches. What happens to the unemployment rate? Would you interpret this as good news for the economy or bad news? Explain.
Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by:
q = 60 − (1/2)p, where q is quantity sold per week.
The firm’s marginal cost curve is given by: MC = 60.
- How much will the firm produce in the short run?
- What price will it charge?
The present value of an annuity of R pesos payable annually for 8 years, with the first payment at the end of 10 years, is 187, 481.25. Draw the cash flow diagram and find the value of R if money is worth 5%.
How much money must you invest today in order to withdraw 1, 000 pesos per year for 10 years if interest rate is 12%?
Consider two Linear Demand Curve with the same price intersect which among the two demand curves is more elastic at the given price at the given quantity?
what do you think is the biggest contribution of veco in cebu? identify 10 biggest contribution of the company in the business industry.
