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Question - The following amounts were taken from the financial statements of Plant Company:
2013
2012
Total assets
P800,000
P1,000,000
Net sales
720,000
650,000
Gross profit
352,000
320,000
Net income
126,000
117,000
Weighted average number of common shares outstanding
90,000
Market price of common stock
P35
P39
Required - Determine the return on assets ratio for 2013?
The property is subject to a liability of $60,000, which Swift assumes. What is the basis of the property to Swift Corporation
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The present value of the lease payments is P1,700,000. What profit on sale should be reported in the current year
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Problem - This year, Amy purchased a personal residence at a cost of $1,000,000. How much may she deduct
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