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Problem 1: Alec, Paul, Neil and Mish are joint debtors of Lyqa and Sam, solidary creditors to the amount of P1 Million. How much can Lyqa collect from Alec?
a. P500,000
b. P1Million
c. P250,000
d. Answer not given.
Problem 2: Statement 1: In an obligation subject to a suspensive period, if the object is improved by time, the same inures to the benefit of the creditor.
Statement 2: Culpa aquiliana is that fault which results from breach of contracts
a. Both statements are true.
b. Both statements are false.
c. Only Statement 1 is true.
d. Only Statement 2 is true.
Prepare a production cost report for the Welding Department for the month of February.
On December 1, Victoria Company signed a 90-day, 4% note payable, with a face value of $7,800. What amount of interest expense is accrued at December
mr. chins granddaughter ling is 8 years old. mr. chin would like to help lings parents pay for lings college education.
The Standard model has a budgeted price of $165 and a standard variable cost of $45. Compute the activity variance for the year
Compute the number of tickets Story must sell to break even. Perform a numerical proof to show that your answer is correct.
What were the firm's net income and net cash flow? What would happen to net income and cash flow if depreciation were increased by $2.90 million?
Alimony $12,000 Charitable contributions 2,000 Contribution to a traditional IRA (fully deductible) 5,000 Expenses paid on rental property (Rental revenue was included in gross income, not a vacation home) 6,000 Interest on home mortgage and prope..
Net income for the year was $440,000. The company has never paid a dividend. Prepare a worksheet for a statement of cash flows
The block consists of 15 two-bedroom apartments, with indoor pool, gym and sauna facilities. What is the key threat to the auditor independence
Papst Company is preparing its cash budget for the month of May. Determine for Papst Company the estimated cash receipts from accounts receivable collections
roberta is an accountant employed by a local firm. during the year roberta incurs the following unreimbursed
What amount of Bad Debt Expense would the company record as an end-of-period adjustment? Assume Brandall Co. had credit sales of $131,849
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