Alpha Trading Ltd (Alpha) is a value added tax (VAT) general taxpayer. On 1 January 2014, Alpha lent RMB200,000 to Beta Ltd at an interest rate of 10% per annum. What is the type and amount of turnover tax which Alpha Trading Ltd will pay on the interest income received for the ...
Specifically, transactions under accrual accounting must be recorded on the date of occurrence (i.e. once earned), irrespective of whether cash payment was received. Accounting Journal Entry: Accrued Interest Example Under accrual accounting reporting standards established by GAAP, any interest that accr...
Accounting considers accrued interest to be significant because it reflects revenue that has been made but not yet received or expenses that have been incurred but not yet paid. Accrued interest must be recorded correctly for the financial statements to represent the company's financial situation accu...
2021, Journal of Economic Behavior and Organization Citation Excerpt : Similar results emerge in contests between groups.4 Inequality in prize valuation has received less attention experimentally despite being relevant in electoral competitions (see Potters and Sloof, 1996). For example, it is fair to...
At the end of the year, the following interest is earned, but not yet received. Record the adjusting entry in a general journal. Interest on $6,000, 60-day, 11% note (for 24 days) $44.00 Interest on $9,000, 90-day, 12% note (for 1...
For all we know, the 12 patients might have improved more dramatically if they had NOT received any homeopathy at all. My conclusion is this: The editor of the journal HOMEOPATHY, the peer-reviewers of this paper, the authors of the article and their institutions should all bow their heads...
20,000 was received on the same day. Now you may want to include the invoice amount and exclude the received amount, for the purpose of calculating interest on 1st April 2022. Set the option Override Parameters for each Transaction to Yes, to change the parameters while recording vouchers. ...
This video shows the shocking situation outside of the large Calais refugee camp in France in 2015. The camp was located close to the entry of the Channel Tunnel into England. I have re-edited this from the original video that I found on the internet. See its video page atthis link. ...
Using the example above, $123.29 (7.5% x (30/365) x $20,000) is received by the lending company on the 20th day of the second month. Of that, $41.10 related to the prior month and was booked as an adjusting journal entry at the prior month end to recognize the revenue in the m...
For an investment, earned interest is the interest earned over a specific time frame, accrued interest is the amount of interest your investment is earning but that has not been paid to you, and paid interest is the amount of interest that you have already received. ...