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Question - Berlin Corporation reported the following data for 2019: Total net sales made to customers were P2,000,000 in cash. Goods purchased for sale totaled P1,200,000 in cash. Beginning and ending inventory of goods for sale, respectively were P200,000 and P300,000. 1 year advance rent of P30,000 to apply for 2020 was received from a sublease contract. P40,000 total interest from customers promissory note earned, P30,000 of this were collected. Unrealized foreign exchange gains from foreign currency receivable totaled P60,000. Compute the total income subject to income tax under cash basis.
amanda and chris mcdermott own a small business plastic dollars which produces and maintains stored value cards for
Case Study Question - Identify the type of fraud - What is the purpose of such a fraud identified in (a) above
Prepare the journal entry to record the issuance of the bond assuming the market rate of interest is: (a) 4%, (b) 5%, and (c) 6%
In addition, the controller is aware of $10,000 of inventory that was stolen during August from one of the company's warehouses. Calculate the estimated inventory at the end of August, assuming a markup on cost of 25%.
Imagine that you are an active partner in a firm and there is no mention about your salary in a partnership deed. How much is your salary.?
Myers Corporation has the following data related to direct materials cost for November: actual costs for 4,640, What is the direct materials price variance
pack in taxi service uses the units-of-activity method in computing depreciation on its taxicabs. each cab is expected
What journal entry should Albuquerque make to recognize the impact of this stock transaction? Record the entry to recognize the impact of sell of 8,000 shares.
having problems with this assignment. argentina partners is concerned about the possible effects of inflation on its
the following transactions apply to x companysold merchandise for cash2119paid wages3377purchased new equipment for
What is the principal balance in the Net Investment in Lease long - Sale type account at the commencement of the? lease
You want to purchase a new car in 8 years and expect the car to cost 40,000. How much should you deposit each month to end up with $40,000 in 8 years
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