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Question - ABM. Inc. acquired a production equipment amounting to P22,981,900. The company expected that because of the asset, the operating expense will be cut by P5,349,923 every year up to the end of its useful life. The new asset has 6 years of estimated useful life. The company also accounted that the acquired asset has 1,686,375 salvage value. Determine the net present value of acquiring the new asset if the effective interest is 10%.
Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31, 2011.
Cash balance per company books on January 30 $4,925 Deposits in transit at month-end $1,840. What the adjusted cash balance per the books on January
The actual number of direct labor hours worked during the period was 100,000. Using these data, compute the cost of goods manufactured for the period
At what amount should each of the four desks appear in the company's December 31, 2017, inventory, assuming that the company has adopted a lower-of-FIFO-cost.
Compute the total income, adjusted gross income and taxable income for 2018. Compute the marginal, average and effective tax rates
What is the balance of retained earnings restated to end-of-year constant peso? East Company prepared the balance sheet shown with GAAP
Prepare an income statement for the year ended December 31, 2009. (Assume that 11,000 shares of stock are outstanding.)
portsmouth company makes fine colonial reproduction furniture. upholstered furniture is one of its major product lines
how can you use caats to detect fraud? what do you gain by using caats to detect
Betty, whose tax rate is 33%, is in the business of breeding and racing horses. What amount ordinary income must be recognized
The company has a convertible bond issue outstanding. The bonds were issued four years ago at par ($2,000,000), carry a 7% interest rate, and are convertible into 40,000 shares of common stock. The company has a 40% tax rate. Diluted earnings per ..
Loan at the bank for $1,000,000. What financial and nonfinancial information do you feel the bank would like to see regarding their potential client?
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