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Problem 1: Wednesday Corporation built a P5,000,000 asset in 2021. The total weighted average expenditures were P3,000,000. To assist with construction, a P2,200,000 loan at 10% was obtained on Jan. 1, 2021, and funds not required for construction were temporarily invested in short-term securities generating and interest revenue of P50,000. Aside from the borrowed construction funds, the only other debt outstanding over the year was a P2,500,000, 10-year, 12% note payable dated Jan. 1, 2018. How much interest should be capitalized in 2021?
What the team's safety margin in sales dollars would be? Fixed costs, including player salaries and operating expenses, total $1.2 million for the season.
On December 31, 2013, Corporation A leased equipment to Company B for a five-year period. The annual lease payment, excluding executory costs is $42,000. The interest rate for this lease is 10%. The payments are due on December 31 of each year. For t..
Alyse Designer Handbags had the following inventory figures for its Nicole Model during 2013 as shown below. # Units Unit cost Beginning Inventory 36 15 Purchases 1 20 16 2 25 16 3 30 14 4 36 15 Ending Inventory 15 What is the cost of the ending inve..
On September 30, Emerson Co. has $540,250 of accounts, Show how Accounts Receivable and Allowance for Doubtful Accounts appear on its October 31 balance sheet.
Prepare journal entries to record each of the preceding transactions. Assume a perpetual inventory system. Evenflow had the following transactions for October
Fixed assets that used at 65% of capacity last year. In millions, by how much could Baron's sales increase before it is required to increase its fixed asset
Akers Company, a 100% owned subsidiary of Muhs Corporation, sells inventory to Muhs at a 30% profit on selling price.
Prepare journal entries for each of the following transactions. Assume that the transactions occur in the order given. Douglas resells 1,000 shares for $36.
The total amount of interest incurred by Clay during 2010 was $102,000. What amount should Clay report as capitalized interest at December 31, 2010?
How much is the amount of the loss on repossession? An used article was accepted as downpayment and the balance on a monthly installment payment starting Nov
The December collections of assigned accounts, Compute for the amount of cash received from the assignment of accounts receivable on December 1, 2020.
Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. What is the amount of total manufacturing cost
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