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Jindo Company reported profits of P4,000,000 and P8,000,000 in 2021 and 2022, respectively. In 2023, the following prior period errors were discovered:
Problem 1) How much is the correct profit in 2021?
Problem 2) How much is the correct profit in 2022?
Problem 3) How much is the correct retained earnings in 2021?
Problem 4) How much is the correct retained earnings in 2022?
Explain how reported accounting numbers might affect an individual's perceptions and actions. Cite two examples.
Intermedia, LLC, has three members: WYXT Partners, Lindsey Wilson, and Daily Sun Newspaper, LLC. On January 1, 2014, the three members had equity of $135,000, $35,000, and $80,000, respectively. Determine the divison of income among the three members..
You have been given the following information for Moore’s HoneyBee Corp. Calculate the cost of goods sold and the interest expense for Moore’s HoneyBee Corp.
Based on the data, prepare an income statement that shows both gross profit and income from operations. Include the earnings per share. Calculate and interpret the meaning of the gross profit percentage ratio.
On February 15, 2013, Jamal, who is single and age 30, establishes an IRA and contributes $5,000 to the account. Jamal’s adjusted gross income is $88,000 in 2013 and $83,000 in 2014. Jamal is an active participant in an employer-sponsored retirement ..
Which would affect the Current Ratio (defined as Current Assets divided by Current Liabilities)?Issue shares to pay down long-term debt
sinking fund payments for issue of bondsodowell tool and machine company is about to sell a 100 million issue of bonds.
What is the current price of the bond, if the required rate of return on a bond is the same as the coupon rate? Explain in detail with an example.
Average current liabilities were $520000 and average total liabilities were $1373000. No dividends were paid. what was Concord free cash flow?
The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 8.0% forever. The firm's required return (rs) is 12.0%. Illustrate what is the best estimate of the current stock pric..
How much is the total amount of income classified as income from profession and business? How much income is classified as compensation income
Make General Journal entries to record the perpetual system merchandising transactions of Home Accents. Use a separate account
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