Mr. Chan's employer gave him a share option in March last year to buy 10,000 shares in X Ltd for $5 each when the market price of the shares was $10. Mr. Chan exercised the share option in March this year when the market price of the shares was $15 each. He sold all the shares yesterday for $20 each. What is the share option gain to be included in the assessable income? Question 41 Answer a. $50,000 b. $150,000 c. $200, 000 d. $100, 000
Q: For each of the following transactions or adjustments, indicate the effect of the transaction or…
A: Financial statements There are four main financial statements. They are balancesheet, income…
Q: Exercise 10-22 Straightforward Computation of Variances (LO 10-1, 10-3) Saskatewan Can Company…
A: Variance arises when the actual costs differ from the standard costs. The results are favorable…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The objective of the question is to understand the process of impairment accounting for…
Q: What tool can you use to incorporate probabilities into the What-If analysis? Sensitivity…
A: The objective of the question is to identify the tool that can be used to incorporate probabilities…
Q: Donald was killed in an accident while he was on the job. Darlene, Donald's wife, received several…
A: Gross income is the whole amount earned by an individual, corporation, or entity before any…
Q: Delph Company uses job-order costing with a plantwide predetermined overhead rate based on…
A: The objective of the question is to calculate the departmental predetermined overhead rates, the…
Q: Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State…
A: The revenue and spending variance is the difference between the actual and flexible budget data. The…
Q: REI sells snowboards. Assume the following information relates to REI's purchases of snowboards…
A: The periodic inventory system is the method of valuing inventory where the inventory is counted…
Q: In process costing systems, costs are accumulated and assigned to: a) Products or jobs b)…
A: a) Products or jobs: Costs are attributed to specific products or jobs based on their direct and…
Q: Following an internal audit of Wilkinson Limited, a manufacturing company for the year 2023, the…
A: I. Appropriate Accounting Treatment:According to accounting standards (US GAAP and IFRS), a change…
Q: Caricolor Limited operates a paint manufacturing plant, housing two distinct departments: the mixing…
A: Dear student, check the answer in the explanation box below.Explanation:Dear student, the following…
Q: Hoyt Company provides this information for the month of November, 2022: sales on credit $170,000;…
A: The partial income statement of the HOYT company shows the net sales revenue of the company.Net…
Q: Albert transfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for…
A: When assets are transferred between parties, such as in the case of land being transferred from…
Q: Required information [The following information applies to the questions displayed below.] Legacy…
A: The bonds are issued to raise the money from the market or investors. The bonds are reported as the…
Q: Comparative statement of financial position of Alpha Sdn Bhd as at 31 December 2023 and 2022 are as…
A: Cash Flow Statement (Direct Method) for Alpha Sdn Bhd (Year Ended 2023)A. Operating ActivitiesCash…
Q: Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales:…
A: Cash collection budget :— This budget is prepared to estimate the collection of sales from customers…
Q: Problem 14-73 (Algorithmic) (LO. 8, 9) Copper Industries (a sole proprietorship) sold three § 1231…
A: Sec.1231 Gain or loss:A Sec.1231 gain or loss is the difference between the basis of property tax…
Q: Bolton Inc. provided the following information for Quarter 1 of 20YY: Table Data Accounts Amounts…
A: The objective of this question is to determine the impact of a decrease in variable costs per unit…
Q: Diego Company manufactures one product that is sold for $77 per unit in two geographic regions-the…
A: The break-even sales units are calculated as the fixed costs divided by the contribution margin…
Q: The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account,…
A: Balance in cash on bank account - MAY 1 , current year = 26904 Balance in cash on hand account -…
Q: Required information Use the following information for the Exercises below. (Algo) [The following…
A: Margin of safety is the difference between total sales revenue break even sales revenue. The…
Q: Following are the individual financial statements for Gibson and Davis for the year ending December…
A: Dear student, check the answer in the explanation box below.Explanation:Dear student, I have…
Q: Mucho Dineros, Inc. purchased 100, $1,000, 9%, 10-year bonds on December 1, Year 1 for $100,000. The…
A: Bonds is a long-term debts issued by the government and companies to raise funds for their…
Q: The contribution income statement would require a firm to: Restructure its accounting system…
A: The objective of the question is to identify the requirements for a firm to prepare a contribution…
Q: Determine the amount of deficiency. (Round factor values to 5 decimal places, e.g. 1.25124 and final…
A:
Q: Required: 1. Calculate the amount Federated should record as a right-of-use asset and lease…
A: A lease is defined as a contractual agreement between two organizations where one of them provides…
Q: Required: 3. Prepare an unadjusted trial balance at January 31.
A: Every transaction has a double impact on the books of accounts according to the dual concept of…
Q: Nicole and Mohammad (married taxpayers filing jointly) are equal owners in an S corporation. The…
A: Schedule A:It is a schedule accompanied to Form 1040. This schedule reports the itemized deductions…
Q: Toolum Corporation began operations on January 1, 2020, and uses the average-cost method of pricing…
A: The required solution is done in given steps below Explanation:Step 1: a)Preparation of journal…
Q: The cash flow statement takes accrual basis statements and converts them to a cash flow for the…
A: A cash flow statement is an important part of financial statements which provides information about…
Q: Information related to accounts receivable is given: Mobile Technology Ltd. reported an unadjusted…
A: Bad debts are accounts receivable that are no longer anticipated to be collectable and must be…
Q: Adams Inc. determines its expected sales for the next quarter as $800,000 and its margin of safety…
A: The objective of the question is to identify the incorrect statement among the given options related…
Q: The most recent financial statements for Mandy Company are shown here: Income Statement Sales Costs…
A: The sustainable growth rate is the rate of growth that a company can expect to see in the long term.…
Q: J.M. Smucker included the following information in its April 20 $ millions Apr. 30, 2019 Apr. 30,…
A: Property, plant, and equipment are the tangible long-term assets of a corporation that normally have…
Q: The following condensed information is reported by World of Stamp Collectibles. Income Statement…
A: RATIO ANALYSISRatio analysis is the process of determining and interpreting numerical relationships…
Q: Required: Classify each of the following as Prevention (P), Appraisal or Inspection (Al), Internal…
A: In the realm of quality management, it's essential to understand the various costs associated with…
Q: For federal income tax purposes, most LLC members elect for the LLC to be treated like a(n):…
A: A Limited Liability Company is a business structure allowed by state statute. Each state may use…
Q: Assume a company's Income Statement for Year 12 is as follows: is O O Income Statement Data Net…
A: INTEREST COVERAGE RATIOThe interest coverage ratio, a borrowing and profitability statistic, is used…
Q: answer in text form with all workings like explanation , computation , steps for every steps for all…
A: Profit and loss account, balance sheet and cash flow statement are the three main financial…
Q: The controller of Ivanhoe Industries has collected the following monthly cost data for use in…
A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…
Q: Newhard Company assigns overhead cost to jobs on the basis of 115% of direct labor cost. The job…
A: The overhead is applied to the production on the basis of the pre-determined overhead rate. The…
Q: Please proper solution no plagiarism
A: The objective of the question is to calculate the cost of goods sold (COGS) for the month of June.…
Q: Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing its budget for…
A: Cash Budget is planning of the estimated cash inflows and the cash outflows in the specific future…
Q: Using the standard tax tax table, how much would a single taxpayer owe on a taxable income of…
A: Income taxes are frequently levied on earnings for both individuals and corporations. The taxable…
Q: Thalassines Kataskeves, S.A., of Greece makes marine equipment. The company has been experiencing…
A: Relevant cost is the cost which differs between the two alternatives, If the cost remains the same…
Q: Li Corp. purchased a container load of antiques for resale at an invoice cost of $1,500,000. The…
A: Transporting products from one place to another entails taxes and expenditures that are referred to…
Q: Magic Realm, Incorporated, developed a new fantasy board game and sold 47,500 units last year at a…
A: Contribution margin is the difference between the sales and the variable cost. It thus contributes…
Q: Concord Painting Services uses a job order cost system to collect the costs of its home painting…
A: The overhead allocation is a method of allocating indirect costs to the goods produced. It can be…
Q: Refer to the original data. The company is discussing the construction of a new, automated…
A: Lets understand the basics,Contribution margin ratio shows contribution margin as a percentage of…
Q: Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was…
A: Factory overhead is the indirect cost incurred in a factory for the production of goods where…
Step by step
Solved in 3 steps
- Problem 4. Mr. X is an investor in ABC Corporation. In 2020, he has 1,000 shareholdings acquired at P120 per share classified as a capital asset. Mr. X uses FIFO in costing his investment holdings b. How much is the nondeductible loss in May? c. Supposing that all the remaining shares were liquidated in December 2021 at 130 per share, what would be the capital gain(loss) to be recognized.Problem 4. Mr. X is an investor in ABC Corporation. In 2020, he has 1,000 share holdings acquired at P120 per share classified as capital asset. Mr. X uses FIFO in costing his investment holdings. b. How much is the nondeductible loss in May? c. Supposing that all the remaining shares were liquidated in December 2021 at 130 per share, what would be the capital gain(loss) to be recognized.Problem 4. Mr. X is an investor in ABC Corporation. In 2020, he has 1,000 share holdings acquired at P120 per share classified as capital asset. Mr. X uses FIFO in costing his investment holdings. Required: a.) What would be the net capital gain in March? b.) How much is the nondeductible loss in May? c.) Supposing that all the remaining shares were liquidated in December 2021 at 130 per share, what would be the capital gain(loss) to be recognized.
- You purchased a share of stock in The Hephaestus Company last year at $40, which paid you a $2 dividend during the year. What is your holding period return if: a. You sell the stock for $44. b. You sell the stock for $50. c. You sell the stock for $35One year ago, Bronwyn purchased 100 shares of Upgo stock at a price of $37.36 per share. The stock pays an annual dividend of $6.00 per share. Today, she sold all her shares for $28.50 per share. What is her total dollar return on this investment? Multiple Choice O O $788 O -$374 -$286 O-$1,486 $149Greg purchased 200 shares of XYZ stock at $90 per share 8 years ago. Today he told all 200 shares for $20,000. What was his average annual compound return on this investment (ignoring taxes and inflation)? (Please use and round to two decimals) a. 1.01 b. 1.46 c. 1.54 d. 1.33
- Saved Ryan Neal bought 1,200 shares of Ford (F) at $15.98 per share. Assume a commission of 2% of the purchase price. Ryan sells the stock for $22.25 with the same 2% commission rate. What is the gain or loss for Ryan? Note: Input the amount as a positive value. Round your answer to the nearest cent.ou purchased 850 shares of Sea Inc. common stock one year ago for $47 per share. You received a dividend of $1.35 per share today and decide to take your profits by selling at $52.50 per share. What is your Olding period rate of return? A. 12.72% B. 14.57% OC. 11.70% O D.8.58% O E. None of the above.Jeff bought 100 shares of stock for $30.00 per share on 70% margin. Assume Jeff holds the stock for one year and that his interest costs will be $45 over the holding period. Jeff also received dividends amounting to $0.30 per share. Ignoring commissions, what is his percentage return on invested capital if he sells the stock for $34 a share?
- ERich DeVos owns 250 shares of Pizer stock, and the quarterly dividend was paying $18 a share, would Mr. DeVos's dividend be? O $1,388 88 S500 $45 S250 QUESTION 17 How much would you receive if you had 40,000 shares of OKAU stock and you sold it for $40 .00 a share? O $160,000 S1,600 $1,600,000 O $16,000 QUESTION 18 How much would you receive if you had 40.000 shares of OK4U stock and you sold it for $40.00 a share? O $160,000 $16,000 $1,600,000 $1,60050 years ago your parents purchased a non-dividend paying share in Pinder Ltd for $0.12. Today that share is worth $12.60. Which of the following is closest to the average annual geometric rate of return that your parents have earned on the share? Group of answer choices 5.20% 9.08% 9.75% 8.53%Mr. Ramon Sy has 100 SMC shares which he bought costing P13,000. He would like to sell his shares registered under his name at a market price of P136/share. His broker executed the order and the transaction was done during the day. His stockbroker charged the minimum stock broker's fee. How much is the realized gains of Mr. Sy? a. P600.00 b. P455.12 c. P405.80 d. P400.00