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Question - ABC Co. reported profit of P800,000 in 2021 under cash basis. The following items are relevant in converting the cash basis profit into accrual basis.
Inventory, January 1 1,000,000
Inventory, December 31 600,000
Receivables, January 1 300,000
Receivables, December 31 900,000
Payables increase by 500,000
Required - Compute the profit under accrual basis?
On January 1, 2019, Washington Company purchased equipment with a cost of P22,000,000. What is the gain on reversal of impairment for 2020?
In 2019, she begins selling lots and sells four separate lots to four different purchasers. What are the realized and recognized gain
The day the bonds hit the market, the bond price is quoted at 100. What is the bonds selling price and how does the company record this sale in its accounting information system?
Expand the company's quality cost report by showing the costs in both years as percentages of both total production cost and total quality cost
The Matsui Lubricants plant uses weighted-average method. Compute the cost of goods transferred out and the ending inventory using the weighted-average method.
Outstanding checks at April 30, 2020 totaled P6,000. There were no deposits in transit at April 30, 2020. Compute the cash balance per books on April 30, 2020
Develop information gathering (research) and communication strategies to enable the provision of professional advice to a client - objective of this assignment is to learn to effectively research a technical aspect of accounting and communicate pro..
How much amortization expense will be on the consolidated financial statements for the year ended December 31, 2009 related to the acquisition of Green?
What is the present value of the cost of leasing if the lease payment are an annuity due, so the first payment comes immediately
Recast the preceding income statements in a format that provides more information in making this decision regarding the steaks product line.
What will be the final adjusted balance for the Insurance Expenses account, to be entered in the debit column of the Income Statement?
A merchandise purchases budget in units and in dollars. Show the budget by month and in total
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