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Questions -
Q1. An old cooler with a recorded cost of P150,000 and accumulated depreciation of P140,000 was sold for P4,000. A new cooler with marked price of P200,00 was purchased on February 10, 2021. Freight charge of P3,000 and installation cost of P6,000 were paid. How much is the gain (-loss) from the sale of the old cooler?
Q2. King Company purchased a machine on July 1, 2021 for P600,000. The machine has an estimated useful life of five years and a salvage value of P80,000. The machine is being depreciated from the date of acquisition by the 150% declining balance method. For the year ended December 31, 2021, King should record depreciation expense on this machine of?
Q3. The SYD method of depreciation is being used for a machine with a five-year estimated useful life. What would be the fraction applied to the depreciable cost to be depreciated in the fourth year?
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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