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Question: A reconciliation of the Investment in branch account in the home office of Taguig company and the Home office account carried on the branch books showed the following discrepancies: Collection of branch accounts receivable by the home office, P10,000. The branch was not notified. Shipment in transit to branch on December 31, 20x7, P35,000. Acquisition of furniture by the branch, P20,000. The fixed asset accounts is to be maintained on the home office books. The home office had not been notified of such acquisition. Return of excess merchandise by the branch but not received yet by the home office, P8,000. Cash remittance by the branch on December 31, 20x7 was in transit, P12,000. The balance of the home office account in the books of the branch on December 31, 20x7 is P420,000. Compute the unadjusted balance of Investment branch account on December 31, 20x7.
On its December 31, 2018, consolidated balance sheet, what amount should Phoenix report for Sedona's customer list
type your question heretoan inc. uses a job-order costing system in which any underapplied or overapplied overhead is
Calculate the earnings pershare of common stock. The Summer Coporation began the year with a simple capital structure consisting of 480,000 shares
Timmons Company traded machinery with a book value of $600,000 and a fair value of $1,000,000. It received in exchange from Lewis Company a machine.
Include considerations in determining what additional audit evidence to obtain about controls that were operating during the rollforward period
you know that both internal and external users have not only the short-term success but also the long-term success of
Real estate taxes on his personal residence $4,500. What is the amount Ronald can deduct for taxes as an itemized deduction for the year
baker winery manufactures a fine wine in two departments fermenting and bottling. in the fermenting department grapes
Prepare the adjusting entries at December 31, 2020. Prepaid Advertising $10,800. This balance consists of payments on two advertising contracts.
An acquirer has an issued capital of 300m shares trading at $5.98. What is the likely post-announcement price of target company stock (to two decimal places)
a. What is the target cost? By how much will Pizza Pies need to cut costs in order to achieve the target cost? b. Identify places in the Pizza Pies Limited value chain where possible savings could be achieved to meet the target cost.
norton company prepared the following sales budgetmonth budgeted salesmarch 200000april 180000may 220000june 260000the
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