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Problem - Gold Company purchased marketable equity security to be held as "trading" for P5,000,000, 000 last January 1, 2019. The company paid transaction cost amounting to P200,000.
The securities had a market value of P5,500,000 on December 31, 2019 and the transaction cost that would be incurred on sale is estimated at P100,000. No securities wer sold during 2019. Compute the gain or loss for 2019 income statement?
Cash Reserve Ratio is 27.5% and the Liquidity Ratio is 30%, what quantum of new money will the banking system create out of the farmer's deposit?
Different forms of business organizations are governed by different regulations. List and briefly explain the different forms of business organizations
What Sheffield volume overhead variance is? During the year, 5625 units were produced, 18440 hours were worked, and the actual manufacturing overhead was $73600
Determine optimal markups and prices under third-degree price discrimination. You are the manager of a monopoly that sells a product to two groups
What is the depreciation expense in year one if the double declining balance method is used? A business purchased an asset that had a total cost of $120,000
You have a treasury bond that pays $100$100 one year from today and $1,100 two years from today. What should the price of your bond be?
Renn's inprocess research and development was estimated to have a fair value of $200,000.
Fresh Fruit, Inc. What would the annual yield to maturity be on the bond if you purchased the bond today and held it until maturity?
AA found that they have $20,000 as ending inventory. During this accounting period, Cost of Goods Sold was $45,000. How much is inventory turnover ratio?
Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt accrual is made by multiplying 2% times the amount of credit sal..
A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as ..
Discuss how Rosalie Ltd should account for these costs. Provide journal entries with an explanation of why these are the appropriate entries.
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