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Point 1: On January 2, 2017, tract of land that originally cost P800,000 was sold by Indonesia May Company. The company received a P1,200,000 note as payment. It bears interest rate of 4% and is payable in 3 annual instalments of P400,000 plus interest on the outstanding balance. The prevailing rate of interest for a note of this type is 10%.
Question 1: How much interest income should be reported for 2017? Can you please provide solution and an explanation.
Money from these accounts could be mixed or further divided and sent to other accounts or individuals, who, in turn, would do the same, until several checks for $1000 or less eventually arrive at party headquarters.
June 30 Discounted the Brisk, Inc note at the bank. The bank's discount rate is 12%. The note was discounted without recourse.
A company declared $500,000 of dividends that will be paid two months from now. Which of the following items would be increased by this dividend declaration transaction?
Explain the different categories of financial assets (such as passive investments) and their measurement under IFRS and ASPE.
What is the average daily collection float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
How much will be distributed to the preferred and common stockholders on the date of payment if the preferred stock is $80,000 in arrears?
The cost of goods manufactured of a company is $850,000. The beginning and ending finished goods inventory are $360,000 and 250,000, respectively. Determine the cost of goods sold.
Brant Corporation manufactures two products out of joint process: Scout an Andro. The joint costs incurred are $400,000 for a standard production run that generates 70,000 pounds of Scout and 30,000 pounds of Andro. If additional processing costs bey..
Pack & Carry is debating whether to invest in new equipment to manufacture a line of high-quality luggage. The new equipment would cost $1,728,125, with an estimated five-year life and no salvage value. All revenue from the new luggage line and all e..
What is the APR on this loan? How much interest will Isabella pay over the full (60-month) life of the loan? Round the answer to the nearest cent.
Should penalties for breaches of the financial reporting requirements of the Corporations Act be increased? Discuss or explain.
Suppose a 10% interest rate, how much money will you require to deposit each year to be able to meet these financial goals?
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