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Sales for J. P. Hulett, Inc., during the past year amounted to $4 million. The firm supplies statistical information to engineering companies. Gross profits totaled $1 million, and operating and depreciation expenses were $500,000 and $350,000, respectively. Dividend income for the year was $12,000. Compute the corporation’s tax liability.

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Sales for J. P. Hulett, Inc., during the past year amounted to $4 million. The firm supplies statistical information to engineering companies. Gross profits totaled $1 million, and operating and depreciation expenses were $500,000 and $350,000, respectively. Dividend income for the year was $12,000. Compute the corporation’s tax liability.

G. R. Edwin, Inc., had sales of $6 million during the past year. The cost of goods sold amounted to $3 million. Operating expenses totaled $2.6 million, and interest expense was $30,000. Determine the firm’s tax liability

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G. R. Edwin, Inc., had sales of $6 million during the past year. The cost of goods sold amounted to $3 million. Operating expenses totaled $2.6 million, and interest expense was $30,000. Determine the firm’s tax liability

You are saving to pay for your children’s university costs in 20 years’ time. In the first year, your payment is R3 600, after which your yearly payments increased by R360 each year. If the expected interest rate per year is 10%, the amount that you expect to receive to the nearest rand on the maturity date will be

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You are saving to pay for your children’s university costs in 20 years’ time. In the first year, your payment
is R3 600, after which your yearly payments increased by R360 each year. If the expected interest rate per
year is 10%, the amount that you expect to receive to the nearest rand on the maturity date will be

Explain briefly the following with simple examples; i. Tangible costs and Intangible costs ii. Fixed costs, direct costs and indirect costs iii. Sunk costs and prospective costs iv. Running costs v. Cost baseline vi. Cost variances vii. Management reserve and contingency reserve

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Explain briefly the following with simple examples;

  1. Tangible costs and Intangible costs
  2. Fixed costs, direct costs and indirect costs
  3. Sunk costs and prospective costs
  4. Running costs
  5. Cost baseline
  6. Cost variances
  7. Management reserve and contingency reserve