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Problem - On January 1, 2020 DEF Company sold machineries with a carrying amount of P4,800,000 in exchange for a P6,000,000 noninterest-bearing note due January 1, 2023. There was no established exchange price for the machineries. The prevailing rate of interest for similar note was 10%. The present value of 1 at 10% for three periods is 0.75 and the present value of annuity of 1 at 10% for three periods is 2.4869. Compute the interest income for 2020.
The year-end inventory shows $135,000 worth of merchandise available at retail prices. What is the cost of the ending inventory calculated?
What largest current liability?Is the company you selected involved in litigation? If so, what can be concluded from its disclosures regarding this litigation?
Which the amount of accrued but unpaid expenses at the end of the period is both an expense? steps in the accounting cycle are listed in a logical order?
In the Shaping Department of Rollins Company the unit materials cost is $5.00 and the unit conversions cost is $3.00. The department transferred out 20,000 units and had 2,500 units in ending work in process 20% complete. If all materials are added a..
multiple choice question based on basic accounts.1.a company started the year with 400 of supplies. during the year the
Use the defining formula to compute the sample standard deviation s. (Enter a number. Round your answer to two decimal places.)
Accordingly, the company reclassifies the investments as long-term. Has management behaved unethically? Give the reasoning underlying the answer.
What is the true initial cost of the plant if company typically uses 60 percent retaine earning and all equity investment is financed through retained earnings?
ethical philosopher of your choosing that we have studied to date, and use both of those philosophies to bolster your decision
Armstrong Inc. is negotiating an agreement, What ?xed lease payment should Armstrong Inc. charge in order to earn its expected rate of return on the contract?
Would the cost of full-time hourly employees behave mainly as a variable cost or a fixed cost? Does your answer change if you consider part-time hourly
Write The entry to provide for uncollectible accounts under the allowance method affects both the statement of income and the statement
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