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Question 1: On January 1, 2020, Setsuna Company settled a P1,000,000 loan payable with an unamortized discount of P20,000 and an accrued interest of P90,000 by transferring to the lender an old equipment with cost of P3,000,000 and accumulated depreciation of P2,200,000. The fair value of the equipment during the date of transaction was P900,000. How much is the gain on extinguishment of the debt?
Based on your research and the facts stated in the scenario, prepare a recommendation for the client in which you advise either acceptance of the proposed adjustments or further appeal of the issue based on the potential for prevailing on appeal.
Bart opened a credit card at a department store with an APR of 19.99% compounded monthly. What is the APY on this credit card?
Valuation of plant asset - What amount if any will Hi-Tech record as goodwill on the date of purchase?
Calculate the payback period for each project. Calculate the profitability index for each project, using a cost of capital of 10 percent.
On June 30, 2016, Georgia-Atlantic, Inc., leased a warehouse facility from Builders, Inc. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $583,573 over a 4-year lease term, payable each June 30 and December 31, wit..
Our company changed from straight-line to DDB depreciation. Which does the journal entry to record the change include?
How is earnings per share (EPS) calculated? Why do we calculate diluted EPS? How is EPS used in the price/earnings ratio
Apply the revenue and expense recognition principles; adjust the accounts) Bird-Watcher, Inc., experienced four situations for its supplies. Compute the amounts that have been left blank for each situation. For situations 1 and 2, journalize the need..
questionwesterville buckeye company produces and sells two products. cost and revenueinformation by product for the
A Merchandiser’s greatest expense is cost of goods sold. Cost of goods sold is calculated based on the different inventory costing method that is used by the company: FIFO, LIFO, Specific identification method, or weighted average cost method.
Which one of the following is an example of a deferred revenue?
Determine For which one of the following reasons might investors be interested in the extent to which earnings reoccur overtime?
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