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AAA Company entered into a contract with a private company on July 1, 2020. The private company subscribes for a monthly plan for 12 months and in return, the private company receives free handset. The private company will pay monthly fee of P1,600 and it gets the handset immediately after signing the contract. AAA sells the same handset for P4,800 and the same monthly plans for P1,280 without the handset. Problem 1: Determine the following: a. Revenue to be recognized on 2020 and 2021 b. Entries to record the transactions for 2020 and 2021
Prepare a classified balance sheet for Tricam Engineering at December 31, 2013 using the post-closing trial balance and the additional information provided.
Suppose that your total transaction costs for selling the 1,200 shares of Twitter in December were $59.95.
On January 15, 2020, Company Eames sold 70 bicycles to a customer at the price of $80 each, in cash. Record the journal entry on the return date
Orchard has forecast sales to be $125,000 in February, $141,000 in March, $158,000 in April, and $142,000 in May. The average cost of goods sold is 70% of sales. All sales are made on credit and sales are collected 60% in the month of sale, and 40% t..
A leasing agreement is available that requires immediate payment, If money is worth 9.6% compounded monthly, should the telephone system be leased or purchased?
How Prepare the motor vehicle account and the accumulated provision for depreciation on motor vehicles account for the first two years of the motor vehicle
Question - Cash Inflows of $ 10,000 investment. What is the internal rate of return
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Tarantula sells the machine on January 2, 2020 for $90,000, and does not replace it. The recapture of CCA or terminal loss would be
Indian River Groves borrowed P 1,100,000 on a construction loan at 12% interest on January 2, 2020. What were the weighted-average accumulated expenditures
At the end of April, 1,050 hats were in ending inventory. Calculate the cost of the ending inventory and the cost of the hats sold during April.
You are considering a new product launch. The project will cost $2,050,000, have a 4-year life. What are the upper and lower bounds for these projections?
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