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On July 1, 2016 Classic Corporation was authorized to issue 100,000 ordinary shares P100 par and 45,000 10% preference shares P150 par. The following are the stock transactions:
July 1 Subscriptions made for ordinary shares at par for 40,000 shares. The subscribers paid one half of the subscription price, balance to be paid in two equal installments.
July 5 Subscriptions made for 20,000 preference shares at subscription price P200. The subscribers paid one half of the subscription price, balance to be paid at the end of the month.
July 10 Issued 15,000 ordinary shares to five investors at P120.
July 12 Issued 5,000 preference shares in exchange for land costing P700,000 and with fair value of P800,000.
July 31 Preference subscribers paid in full.
1. Entity concept
2. Realisation concept
3. Prudence concept
4. Accruals concept
5. Going concern concept
6. Materiality concept
7. Substance over form
8. Money measurement concept
9. Cost concept
10. Time interval concept
The accounting concept in each must be first explained, before the deviation may be discussed.
Smith, S., & Smith, R. (2015). Money trees (No. 663) [Audio Podcast Episode]. In Planet Money. NPR. https://www.npr.org/sections/money/2015/11/13/455941812/episode-663-money-trees
What note-taking strategy did you select? Why?
How will the note-taking strategy you selected help you study? How does this compare to other note-taking strategies you looked at this week?
a. Pose several hypotheses that might account for dropped or misrouted incoming calls.
b. Using the double movement of reflective thought, show how you would test these hypotheses.
on Anthropology
mr. paven for the previous year 2017-2018
he is employed in a cotton textile mill at banglore on monthly salary of 25,000. he is also entitled to a commission @ 1% of sales effected by him. the sales effected by him during the previous year amounted to 40,00,000. a) dearness pay @ 6,000 per month b) bonus at two month basic salary c) entertainment allowance 2000 per month d)house rent allowance 5000 per month e) income tax of mr. pavan paid by the employe 10000 f)free telephone is installed at his resident g)he and his employer contribute 15% salary to his RPF and intrest credeted to this fund at 10% amounted to 30000 during year h) he spent 6000 per month as rent of the house occupied by him in bangalore i) the employer provides him hotel accomodation from 1-1-2018 to 26-6-2018 and hotel tariff of 10000 per day is paid by employer j)no of days for accommodation 10 days compute his taxable income under the head salaries for the assessment yearr 2018-2019
Bella Neal wins a seat in Parliament and transfers to Canberra. Before moving, Bella sold the following assets:Item($) Purchase Price ($) Sale Price
Vacant Land 200,000 220,000
Plasma TV 10,500 5,500
Painting 150 4,500
Antique Sideboard 2,000 1,600
Boat 11,700 19,900
All assets were purchased on 1 July 2000 and sold on 30 June 2013. There are no other relevant transactions affecting her taxable income for the tax year ending 30 June 2013.
Required:Calculate Bella’s Net Capital Gain.
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#339914 on Dec 2023