Group Assignment On Computation of Income and Tax Liability of an Individual Subject-ACT 322 Section-2 Prepared For Professor Mahbubur Rahman (MbR) Prepared By Nymul Hasan Taseen (083 414 030) Sharafat Halim (091 0615 030) Abu Syed Arik Kibria (091 0622 030) Abdullah Mohammed Zoboer Abhi (092 0096 030 - From Section 1) Date of Submission – 21st April‚ 2012. Of all the direct taxes‚ Income Tax ranks foremost. By nature and heritage‚ many of us tend to be just “free riders”
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BTEC Applied Science Unit 1: Efficiency Worksheet Name____________ efficiency = ( 100 %) 1 What is the efficiency of a motor that turns 100 J of electrical energy into 70 J of useful kinetic energy? Give your answer as a decimal. 2 An electric winch is used to lift a load of mass 2 kg a height of 1.5 m. It uses 50 J of energy when it does this. i) Calculate the amount of potential energy gained by the load using the formula: Ep = mgh where Ep is the potential energy
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national income …………………………………………………3 1.2. Overview of issues of National income in the world………………………………………3 SECTION 2……………………………………………………………………………………5 2.1. Definition of national income ………………………..........................................................5 2.2. Factors that determine national income…………………………………………………...6 2.3. Methods to measure national income………………………………………………………6 2.4. Treatment of national income from abroad………………………………………………...8 2.5. Uses of national income statistics
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The Income Statement This indicates financial performance over a period of time. It is usually done at the end of a financial year (30th June)‚ but an income statement can be made up at other times‚ e.g.‚ if a business wishes to apply for a loan‚ the bank may ask for a more recent income statement. The other names for this kind of statement are Revenue Statement and Profit and Loss Statement. Income Statement for Ima Mess‚ year ended 30.6.12 |
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Income statement The income statement or the profit and loss account as it is also called measures reports how much profit (wealth) has the business generated over a period of time. To measure profit the total generated revenue over a period must be identified. Revenue is a measure of inflow of economic benefits arising from the operations of the business. These benefits will either result in an increase of assets such as cash or amounts owed to the business by the customers or a decrease
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’s net income divided by total equity expressed as a percentage. b. ROI - Return On Investment - Is the ratio of money gained or lost on an investment relative to the amount of money invested. ROI is used to compare returns on investments where the money gained or lost — or the money invested — are not easily compared using monetary values. ROI is a measure of cash (or potential cash) generated by an investment‚ or the cash lost due to the investment. It measures the cash flow or income stream
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Overhead Cost] + 15‚000 = [95‚000+110‚000+70‚000]+15‚000 = $ 290‚000 b- Cost of goods sold = Cost of goods manufactured + [Difference between Beginning & Ending finished goods inventory] = 290‚000 + [(30‚000)] = $ 260‚000 c- Net Income or Loss = Sales – Cost of goods manufactured - Selling ‚ general admin. and expenses = 300‚000 – 260‚000 – 75‚000 = ($ 35‚000) ; Net Loss Exercise # 1 Page 43 Direct Material Cost = $ 8‚000 Indirect Material Cost = $ 2‚000 Direct Labor
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Concept of ATC Loss Calculation (By Jayant Sinha‚ DGM (IT)) In absence of feeder metering in the past‚ substantial portion of T&D loss‚ including theft of electricity was attributed to agricultural consumption. While‚ agricultural consumption was around 20-25%‚ utilities were showing it as 35-40% and correspondingly T&D losses were shown as 20-25%. Also‚ T&D loss was being computed by showing electricity bills issued to consumers as accrued income‚ and not on the basis of actual collection. Therefore
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Initial Investment The desired item is jewelry The cost in 12 years will be about $6000. The average interest rate is 5%. The Present value formula is P =A (1+r)-n where P is the present value that will amount to A dollars in n years at interest rate r compounded annually. Note that the quantity raised to a power has the negative exponent on –n. According to the rules of exponents‚ this means that once the negative is put into effect‚ the base quantity will change position by dropping down
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4-1 4 Income Statement Usefulness Predicting future performance. 4-2 Evaluate past performance. Help assess the risk or uncertainty of achieving future cash flows. Income Statement Limitations Companies omit items that cannot be measured reliably. 4-3 Income is affected by the accounting methods employed. Income measurement involves judgment. Income Statement Quality of Earnings Companies have incentives to manage income to meet or
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