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On October 1, 2020, ABC Corporation purchased land and building at a basket price of P 30,000,000. A check was issued upon receipt of the land title. At the time of acquisition, the relative fair values of land and building are P 12,000,000 and 24,000,000, respectively.
Question 1: What would be the journal entry to record the acquisition?
D. Jackson, CPA, audited Washington Company's financial statements for the year ended December 31, 2007. On November 1, 2008, Washington notified Jackson that it was changing auditors and that Jackson's services were being terminated.
Journalize the entries made by the seller to record the return and the refund. If an amount box does not require an entry, leave it blank.
On January 1, 2019, Black Panther, Inc. issued P4,000,000 of 9% bonds, dated January 1 at 97. How much is the interest expense for the year ended
The tax rate is 35%. Prepare the journal entry, if any, to record the accounting change at the beginning of 2015
Question - What is the difference between the definition of a proportionate current distribution and a proportionate liquidating distribution
My-Best Weight Co. offers personal weight reduction consulting services to individuals. Prepare a classified balance sheet that includes the correct balance
Compute avoidable interest for Pharoah Company. Use the weighted-average interest rate for interest capitalization purposes
Explain on what will be the possible outcomes if the company reject the special order without any consideration
Brave Industries is considering buying a machine for $180,000 with an estimated life of ten years and no salvage value. The straight-line method of depreciation will be used. The machine is expected to generate net income of $12,000 each year. The..
What type of an account is the Common Dividend Payable account?
Which is the best performance measure of the organizational goal? overall rating on employee service on guest satisfaction survey
The following accounts were included on Megan's Style Consultants adjusted trial balance at December 31, 2010: What are total current assets?
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