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Problem 1: Reign Company bought a new machine on January 1, 2018 and agreed to pay in equal annual installment of P600,000 at the end of each of the next five years. The prevailing interest rate is 12%. The present value of an ordinary annuity of 1 at 12% for five periods is 3.60. The present value of 1 at 12% for five periods is 0.567. What is the interest expense on the note payable for 2018?
What was the amount of revenue for July - Received $1,280 cash from a customer for services to be rendered next year
During the quarter ended 3/31/2015, Clarke Biscuits Inc. collected $100 of cash from customers, paid $60 of cash to suppliers, paid $30 of cash to employees and other creditors, and recorded a $5 loss on sale of equipment. There were no other cash fl..
Determine whether the accounting treatment of the debenture issue is in accordance with the requirements of AASB 110 Events After Reporting Period.
Prepare the journal entry to record the monthly payroll ended September 25 and also the employer's benefits expense on the payroll
Explain what is wrong with the design of Ma's substantive test for accounts payable. what is the relevant assertion at risk of misstatement for accounts
Your client, the majority shareholder in a small business, is considering selling his shares to an “outside” party who would like to take control of the enterprise. What will be the consequences if the stock is sold at a gain? What will be the conseq..
meredith motor works has just obtained a new battery division. the battery division produces a standard 12 volt battery
preparing common-size statements analyzingprofitability making comparisons with the industrytop managers of mcdonough
The most serious slave rebellion in the the colonial period; inspired in part by Spanish officials' promise of freedom for American slaves who escaped to Florida.Historical Significance:Led to the Negro Act of 1740 prohibiting slaves from growing the..
Explain your decision whether you recommend to accept or reject the project. determine total cash flows for each year of project's life.
This motor has recently become available from an outside supplier for $24.25 per motor. If Barrus decides not to make the motors, none of the fixed manufacturing overhead would be avoidable and there would be no other use for the facilities.
What is the size of the monthly deposit? A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly.
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