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Problem 1: On December 1, 2020, Thamuz Co. Gave Harith Co. a P400,000, 11% loan. Thamuz paid proceeds of P388,000 after the deduction of a P12,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of P8,620, beginning January 1, 2021. The repayments yield an effective interest rate of 11% at a present value of P400,000 and 12.4% at a present value of P388,000. What amount of income from this loan should Thamuz report in its 2020 income statement? (round-off computations to the nearest peso)
Brett Spelling was hired during January 2014 to manage the home products division of Hi-Tech Products. As part of his employment contract, he was told that he would get $5,000 of additional bonus for every 1% increase that the division’s profits exce..
Prepare the necessary journal entries to record the foregoing transactions - What are Debentures
Question - If net profit is $100,000 and there is $10,000 for section 1231 gain. What is the total amount of self employed income
Find How much will each of the newly grads have at retirement? Joe however does not plan to begin investing until 10 years after Donald begins to invest.
Make a Statement of Partners' Equity for 2017. Show the entry to allocate the net income to the partners' capital accounts using the income ratio.
In the month of March, Trendy Spa services 630 clients at an average price of $120. During the month, fixed costs were $18,648 and variable costs were 65% of sales. Determine the contribution margin in dollars, per unit, and as a ratio
Employer, The money is invested at 4.5% per year compounded monthly. How much will you have saved in your account after 15 years?
What is Mary's effective annual rate? Mary purchased 100 shares of Sweet Pea Co. stock at a price of $49.78 six months ago. She sold all stocks today for $42.76
How much does Iris have to deposit into a savings account at the end of each month (starting next month) in order to have the amount she needs
How do Examine any investment projects the company has taken in the past and critically examine if that project increased the wealth of the shareholders.
Calculate the present value of the cash flows, rounding to the nearest dollar and prepare a chronological list of the investment's cash flows. Note: Greene is entitled to the 19X3 dividend.
What amount of petty cash fund should be reported? A sheet of paper with the names of several employees together with a contribution for a birthday party
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