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Question - Oust the Turtle Now Corporation sells equipment. On January 1, 2020, the entity sold equipment to Chai Na Company costing P 280,000 for P 400,000.
Chai Na signed a non-interest bearing note for P 400, 000 in four equal installments every december 31. The cash sales price for the equipment is P 350,000.
The effective rate is 5%.
Required - How much is the discount on notes receivables (also known as unearned interest income)?
A. P 50,000
B. Zero
C. P 70,000
D. P 45,405
Banks Corporation purchased 400 shares of Herman Inc. common stock as an available-for-sale investment for $13,200. During the year, Herman paid a cash dividend of $3.25 per share. At year-end, Herman stock was selling for $34.50 per share. Prepare B..
Estimate and Calculate the basic earnings per share for Pelangi Berhad as at 30 September 2014, 2015, 2016 and 2017. Show all your workings.
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In 2001, Ellen purchased a house for $60,000 to use as her personal residence. She paid $12,000 and borrowed $48,000 from the local savings and loan company. In 2005 she paid $10,000 to add a room to the house. In 2007 she paid $625 to have the house..
Suppose the firm can cut its requirements for working capital in half by using better inventory control systems. By how much will this increase project NPV
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View the 2013 Annual Report for the Ford Motor Company, a Fortune 50 company, linked here as well as on the Course Information page. Using this report, answer the following questions: What was the amount of income before income taxes for 2013? 2012? ..
During April, cash receipts totaled $199,270 and the April 30 balance was $9,440. Determine the cash payments made during April.
On October 1, Borges paid the note, including the accrued interest. Prepare the journal entries required to record the above transactions
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