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Question - Faith Company purchased an equipment on January 2, 2021 for P3,000,000. The equipment had an estimated useful life of 5 years. It is the company's policy to use the double declining method in its first two years and then switch to the straight-line method for the remaining useful life of the asset.
Required - How much is the balance of the accumulated depreciation account pertaining to the equipment as of December 31, 2023?
The entity had previously established an allowance for doubtful accounts of P250,000 in connection with such accounts. What amount of loss on factoring
Discuss the considerations for implementing an operating and database system. Recommend the optimum system, considering the types of revenue
Sugarcane Company uses FIFO. Its purchases in ending inventory total $40 million. Compute the total resale costs to be capitalized to ending inventory
Jasper Company expects to sell the brackets for $45 each. How many brackets should Jasper produce in January
Calculate the annual depreciation on the truck for the year ended 30th June 2020 and prepare the adjusting journal entry for depreciation.
In Feb 2018, he donated to a property to his sister situated in BASILAN, PHILIPPINES worth P 400,000. What is the donors tax still due on July 2018
Lars Linken opened Novak Cleaners on March 1, 2022. During March, the transactions were completed. Prepare an adjusted trial balance
Candyland sold 35,000 boxes last year. How many boxes must be sold to break even? What is the break-even sales revenue
On January 1, 2021, Frontier World issues $40.7 million of 9% bonds, due in 20 years. If the market rate is 9%, calculate the issue price
Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000 and the rest on a note.
The firm spent $481 on fixed assets and increased its networking capital by $32. What is the amount of the cash flow to stockholders
A company has a portfolio of stocks worth £10 million. What position in the futures contracts should they take and how many contracts are needed
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