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Question - On January 1, 2X19, an investor acquired 20% interest in an investee enabling the investor to exercise significant influence over the investee. The identifiable assets and liabilities of the investee are recorded at fair value. During the year, the investee reported a net income of P2,000,000 and paid no dividend. Also, during the same year, the investee sold inventory costing P200,000 for P300,000 to the investor. The inventory is unsold by the investor on December 31, 2X19. Ignoring income tax, compute for the investor's share in the profit of the associate for 2X19.
Hendricks Equipment Company sell computers for $1,500 each and also gives each customer. How much is 2019 warranty expense, under the expense warranty approach?
Sections 5063 through 5063.2 of the California accountancy act require that cpa's report certain legal issues to the board of accountancy.
Product R can be processed beyond the split-off point for an additional cost of $26,000 and can then be sold for $105,000. Which products should be processed
The projected annual profits of $100000 are to be used in the church's outreach mission. What are the tax consequences of each option
Classify the above events into adjusting and non-adjusting events after the end of the report- ing period, justifying your choice
Describe why accountants should be concerned about ethics.
Now assume that Shiek sells the equipment to an outside party for $900,000 on January 1, 2019. What is the consolidated gain on the sale of equipment
Calculate the cost per minute for each type of employee. Calculate total costs per patient and price per patient at each level of care.
Harbottle's net income for 2016 is P300,000. What is the amount of shareholders' equity on December 31, 2016
A piece of equipment is purchased for $18,000.00 and has a salvage value of $2,000.00. What is the accumulated depreciation at the end of year 3
Throughout this course, you have analyzed the types and strength of arguments. One of the more challenging tasks in critical thinking is discerning.
Oct 3 Sold merchandise for $5,500 to the South Corp. on credit, Invoice No. 1122. Record the appropriate transaction in the General Journal
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