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Question 1: Deep Corporation's standing sugar cane fair value as of January 1, 2020 was $2,700,000 and as of December 31, 2020 was $2,800,000. The biological asset has a life span of less than a year and has no dual purpose. The selling price of the agricultural produce harvested during the period was $2,100,000, on the respective dates of harvest. The estimated cost to sell is $100,000. How much is the net amount of gain that Depp Corporation should report in its December 31, 2020 profit or loss related to the biological asset and agricultural produce?
On February 6, 2019, the customer subsequently returned P120,000 of damaged merchandise. What is the journal entry for February 6?
Define goodwill. Is it more or less applicable in 2020? Explain. Discuss the accounting for short-term investment.Discuss the equity method of accounting.
If inventory costs have been falling during the year, which cost method results in the highest gross profit for the year?Specific identification
What The total profit share of Guess was? The partnership profit for the year is P 110,000. They share profits and losses on a 4:4:2 ratio.
Income statement for the year ended December 31, 20X6. Retained earnings statement for the year ended December 31, 20X6. Classified balance sheet as of December 31, 20X6.
WACC is 10.4% and its unlevered cost of capital is 12.1%. Given this information calculate the present value of all future tax shields for ABC corp.
Prepare a partial amortization table showing the original balance of this loan, and the allocation of the first two monthly payments
How much goodwill was recorded as a result of the transaction? Jimmy Dean Rodriguez Sausage company acquired Eggs Danedict for $500,000
Todd Corporation produces two products, P and Q. P sells for $7.50 per unit; - What is the maximum monthly contribution margin that Todd can generate under the circumstances?
Thereafter, its cash flows will grow at the inflation rate of 3%. If the applicable interest rate is 8%, estimate its value if you will sell the firm in 10 year
National Orthopedics Co. issued 8% bonds, dated January 1, with a face amount of $700,000 on January 1, 2016. The bonds mature on December 31, 2019 (4 years). For bonds of similar risk and maturity the market yield was 10%. Prepare the journal entry ..
You have been asked to assess the expected financial impact of each of the following proposals to improve the profitability of credit sales made by your company. Each proposal is independent of the other. Compute the incremental income after taxes th..
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