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What is the limit as to amount of representation expense that can be reported in the income statement of corporation in the Philippines?
Wiki User
∙ 12y ago
There is no limit as to amount according to BIR, however, it should not exceed at .50% of the Reported Net Sales of the taxpayer in case of retail companies and at least 1% of the Net Revenue for firm involve in practicing their profession.
Wiki User
∙ 12y ago
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How are revenues and expenses reported on the income statement under the accrual basis of accounting?
Revenues are reported on the income statement in the period in which they are earned.
A corporation issued 200000 of common stock in exchange for 200000 of fixed assets Where would this transaction be reported on the Statement of Cash Flows?
This transaction would not appear on the statement of cash flows because it is a non-cash transaction. The statement of cash flows only shows transactions that involve inflows and outflows of cash.
How is a loss of unrealized loss reported on an income statement?
A loss of unrealized loss is not reported on an income statement. Unrealized gains or losses refer to changes in the value of investments that have not been sold. These gains or losses are typically not recognized on the income statement but are instead reported on the balance sheet or in the statement of changes in equity.
Accumulated Depreciation is reported on the income statement?
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Is Accumulated Depreciation is reported on the income statement?
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Unearned revenue is reported in the financial statement as what?
How do you reported unearned janitorial revenue in the financial statements
Is taxable income reported on an income statement?
Yes it is!
How are the revenues and expenses reported on the income statement under the cash basis of accounting?
They are reported in the period in which cash is received or paid
Is the repurchase of stock reported on the equity statement?
no, i dont think so
When you have stocks they are reported on which year-end statement from your broker?
1099-b
Is a ten-year bond issued at par reported as noncash flow in a statement of cash flow?
is a ten year bond issued at par reported as a non-cash flow in a statement of cash flow?
Did sanwa shutter acquire Wayne Dalton corporation?
9-2-09 It is reported today that they will
