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Problem 1: Owner of ABC enterprises agrees to hire Sandy as Salesman from next month @ $25 per hour for a 40 hour workweek. What would be the entry to record it?
A. Sandy account debit, credit Mr. A accountB. Salary account Debit, credit bank accountC. Sandy account Debit, Credit cash accountD. No entry
Problem 2: Calculate Net Profit/ net loss from the following information-Teaching Revenue $50,000; Rent expenses $5000, Equipment $40,000, Supplies expense $6000, Tutoring revenue $55,000; Phone expense $10,000
A. Net Loss $48,000B. Net profit $84,000C. Net Profit $44,000D. Net Profit $48,000
What are some reasons why consolidated reports are thought to be relevant? Discuss-the-limitations of consolidated financial statements and why dual reporting.
What is the correct amount of VAT payable, if any? An electric cooperative provided the data for the taxable year, net of applicable taxes
Let's say I save $400 per month for 20 years, and my investment grows at 6% the whole time that I'm saving. How much money will I have at the end of 20 years? Now let's say the 20 years have gone by and now instead of saving money, I'm living off my ..
suppose your engineers and management accountants conclude that your design of the Glammaglob gadget will result in a unit cost of $230. how can you use the concept of the target costing to help achieve your object?
The Income Tax Return of Mr. Chua for taxable year 2019, reported a taxable income of P520,240. Compute the correct taxable income for Mr Chua
Assume a 34% tax bracket, a discount rate of 15%, and a salvage value of $10. What is the Present value of all the CCA tax shields?
Frank Corporation manufactures a single product that has a selling price of $30.00 per unit. Fixed expenses total $51,000 per year, and the company must sell 8,500 units to break even. If the company has a target profit of $16,500, sales in units mus..
What is an audit program to audit revenue? You will use all of the relevant management assertions as the audit objectives, and you should
How much is the increase in the carrying amount of the bond liability from January 1 to June 30, 2015? What is the carrying value of the bonds at December 31?
spent 1000 on its erection. Assume normal depreciation is 10% p. a show the machinery account for five year under Fixed Instalment method.
We have monthly payments of 115 for 18 years and an annual return of 5%. At the end of the 18th year we need 40,000 what is the formula/equation that is used to solve this question?
Lusumai Bakery in Nakasi issues 10% $2 preference shares that pays $0.20 dividend per share. What should be the current price of each share
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