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Question - Bob and Boby formed the BB Partnership on January 01, 2019. Bob contributed a used machine with a carrying amount of P89,473. The machine has a remaining useful life of 5 years, its assessed value is at P73,392, while its second-hand value is estimated at P85,107. Boby meanwhile contributed a brand-new motor vehicle which was agreed to be worth P133,728. The motor vehicle had a purchase price of P129,232, and Boby paid installation costs of P2,172 and inspection costs of P1,349. The new motor vehicle also had a chattel mortgage attached to it valued at P20,036 which was assumed by BB Partnership. Additionally, Bob and Boby contributed cash at P28,935 and P30,547, respectively. Immediately after formation, how much is the firm's total assets?
Find What's the difference in the effective annual rates charged by the two banks? Farmers Bank offers to lend you $50,000 at a nominal rate of 5.0%
Consider the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. According to the Act, the PCAOB now has authority to inspect the work of audit firms auditing broker-dealer firms. Do you believe that this provision is going to make a d..
moon company uses the variable cost idea of applying the cost-plus approach to product pricing. the costs and expenses
The present value of the lease payments for the lessor and lessee is $20,500. The first payment was made the day the lease was signed. What is the finance lease
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Upon completing the inventory valuation as at 31/08/2020, What is the value of the inventory bought on credit during the year ending 31/08/2020?
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On December 31, the company determined that $3,750,000 of goodwill was impaired. Determine the amount of the amortization
The bank stays solvent for this period (and thus can keep its promise to pay you). What will the balance in your account be at the end of the life of the CD
Identify the following interest rate statements as either nominal or effective : (a) 11% per year compounded monthly; (b) effective 2.5% per month compounded weekly; (c) 15% per quarter; (d) nominal 4.5% per month compounded weekly; and (e) 15% per q..
What recommendations or tools can medical offices use to ensure effective alignment of policies and procedures? what ways do medical office procedures
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