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Question - Joseph is a friend of yours. He has plenty of money but little financial sense. He received a gift of PhP600,000 for his recent graduation and is looking for a bank in which to deposit the funds. First Time Savings Bank offers an account with an annual interest rate of 3% compounded semi-annually, while Second Time Savings Bank offers an account with a 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts at the end of one year, and recommend to Joseph which account he should choose.
On February 1, 2019, UML issued 10%, $1,000,000 bonds for $950,000. How much gain or loss should be recognized on this bond retirement
Prepare journal entries to record the issuance of the convertible bonds on January 1, 2021. On January 1, 2021, Brampton Inc. raised $5.5 million by issuing $5.
How much is the cash received by partner PERCY? MACY, PERCY and PROCY, partners sharing profits and losses based on 4:4:2 decided to liquidate.
What is the price per share of the combined corporation immediately after the merger is? completed? What is the actual premium your company will? pay?
Kirin's monthly Canada Pension Plan contribution on his director's fees is $35.06. What is Kirin's quarterly contribution? Provide the calculation.
Quinn Co. reported a net deferred tax asset of $9,000 in its December 31, year 1 balance sheet. For year 2, Quinn reported pretax financial statement income
How much of the lease liability should be classified as current on December 31, 2017, and December 31, 2018? (Round your intermediate calculations)
Costing $14,500 were on hand. Reversing entries are used by this company. The required adjusting entry at the end of year 3 will include a debit to
What are the characteristics outlined by the paragraph 57 of AASB138/IAS38 to be used to analyse and determine development costs?
What was the balance in X's "Investment in Y' account as of December 31st,2020? X acquired 30,000 shares (30% of the outstanding shares)
ABC Corporation, You determined that the entity recorded a P50,000 check payment as P5,000. What is the correct cash in bank balance?
The following information relates to the debt securities investments of Wildcat Company. If Wildcat classified these as held-to-maturity investments, explain how the journal entries would differ from those are classified as available-for-sale securit..
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