Investigate your state’s income tax withholding law (or that of

Investigate your state’s income tax withholding law (or that of some other state assigned by your instructor), and find the answers to the following questions:a. Who must withhold the tax?  b. How are covered employers and covered employees defined?  c. Are there any reciprocal agreements into which the state has entered? If so, describe them.  […]

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Torrent plc’s income statement for the year ended 31 December

Torrent plc’s income statement for the year ended 31 December 2014 and the statements of financial position as at 31 December 2013 and 2014 are as follows: Income statement for the year ended 31 December 2014 Statements of financial position as at 31 December 2013 and 2014 During 2014, the business spent £67 million on […]

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Manet plc had the following share capital and reserves as

Manet plc had the following share capital and reserves as at 1 June 2014:…………………………………………………………………………..£mShare capital (£0.25 ordinary shares) …………………250Share premium account ………………………………………50Revaluation reserve …………………………………………..120Currency translation reserve ……………………………….15Retained earnings ……………………………………………..380Total equity ……………………………………………………….815During the year to 31 May 2015, the company revalued property, plant and equipment upwards by £30 million and made a loss on foreign exchange […]

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The following is a draft set of simplified financial statements

The following is a draft set of simplified for Pear Limited for the year ended 30 September 2015.Income statement for the year ended 30 September 2015 Statement of financial position as at 30 September 2015 The following information is available:1 D epreciation has not been charged on office equipment with a carrying amount of £100,000. […]

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Genesis Ltd was incorporated three years ago and has grown

Genesis Ltd was incorporated three years ago and has grown rapidly since then. The rapid rate of growth has created problems for the business, which the directors have found difficult to deal with. Recently, a firm of management consultants has been asked to help the directors to overcome these problems.In a preliminary report to the […]

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The financial statements for Harridges Ltd are given below for

The for Harridges Ltd are given below for the two years ended 30 June 2014 and 2015. Harridges Limited operates a department store in the centre of a small town. Dividends were paid on ordinary shares of £65,000 and £75,000 in respect of 2014 and 2015 respectively. Required:(a) Choose and calculate eight ratios that would […]

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The following financial statements for Blackstone plc are a slightly

The following for Blackstone plc are a slightly simplified set of published accounts. Blackstone plc is an engineering business that developed a new range of products in 2011. These products now account for 60 per cent of its sales revenue.Income statement for the years ended 31 March Statements of financial position as at 31 March […]

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A local education authority is faced with a predicted decline

A local education authority is faced with a predicted decline in the demand for school places in its area. It is believed that some schools will have to close in order to remove up to 800 places from current capacity levels. The schools that may face closure are referenced as A, B, C and D. […]

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Rob Otics Ltd, a small business that specialises in manufacturing

Rob Otics Ltd, a small business that specialises in manufacturing electronic-control equipment, has just received an inquiry from a potential customer for eight identical robotic units. These would be made using Rob Otics’s own labour force and factory capacity. The product specification prepared by the estimating department shows the following:Material and labour requirements for each […]

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Andrews and Co. Ltd has been invited to tender for

Andrews and Co. Ltd has been invited to tender for a contract. It is to produce 10,000 metres of an electrical cable in which the business specialises. The estimating department of the business has produced the following information relating to the contract:● Materials: The cable will require a steel core, which the business buys in. […]

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