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Problem - Kwell Co. owes Kuto Bank P4,000,000 plus accrued interest of P360,000. The unamortized discount on the loan is P80,000. The debt is a 10-year, 12% loan. During 20x1, Kwell's business deteriorated due to loss of demand for its services. On December 31, 20x1, Kuto Bank agrees to accept old equipment and cancel the entire debt. The equipment has a cost of P12,000,000, accumulated depreciation of P8,800,000 and fair value of P3,600,000. How much is the gain (loss) on the extinguishment of the debt?
Mazia's before tax of debt and the cost of capital are 6% and 12% resp. If the marginal tax is 35% and the debt/equity is 0.70. Calculate the residual income.
On December 31, 2012, 16,000 SARs are exercised by executives. What amount of compensation expense should Korsak recognize for the year ended
Question - List the component of classified balance sheet in the proper order in accordance with GAAP from top to bottom
Jim owns a lawn care service. He would like to obtain a new heavy duty trailer to haul his equipment and materials. What is the Book Value at the end of year 5?
A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets.
1. During 2007 the assets of Inspiring Sky increased by $30,000, and the liabilities increased by $15,000. If the ownersA????1 equity in Blue Sky is $84,000 at the end of 2007, the ownersA????1 equity at the beginning of 2007 must have been:
Pina Colada Corp. had net income of $120200 and paid dividends of $36500 to common stockholders, Pina Colada Corp. return on common stockholders' equity is
Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend
At what total amount did the shares sell to the public? How is the difference between this amount and the $50.2 million net proceeds accounted for?
cypress company is a subsidiary of peppermint corp. the controller of cypress believes that the yearly allowance for
Determine The Charleston Company pre-pays annual rent. If the adjusting entry to record the current period's prepaid rent expired is not recorded
Alpha Company prepares quarterly adjusting entries. Also, show the general journal entry to record the payment of the note when due in 2018
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