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The Hotel De Luna Company purchased for P240,000 cash on July 1, 2015 a machine with an estimated useful life of 10 years and an estimated residual value of P12,000. Depreciation was recorded on a monthly basis using straight-line method. The machine was sold for P130,000 on September 30, 2020.
Problem 1: Using the conceptual framework's derecognition concept, how much is the gain/loss on sale?
FNS50215 Diploma of Accounting - FNSACC504 Prepare Financial Reports for Corporate Entities- Analyse each annual report and write brief summaries - Summarise all references to AASB standards in the notes and financial statements of two major health ..
which of the are temporary differences that are normally classified as expenses or losses that are deductible after
Complete the following: Calculate the current ratio and quick ratio and Calculate the times-interest-earned ratio and debt-to-equity ratio for both companies
Once the accounting cycle is complete, by what total dollar amount will these transactions impact the company's net income for 2015
What did the company report for Deferred Rent and Other liabilities at the end of fiscal year 2012? Where did you find this information and what is the difference between prepaid rent and deferred rent?
nyota corp sells two products. product a sells for 100 per unit and has unit variable costs of 60. product b sells for
uncle john promised tom come and take care of me and i will leave you the farm when i die. tom took care of uncle john
Chaz Corporation has taxable income in 2017 of $400,000 for purposes of computing the §179 expense, What is the maximum total depreciation expense
Assume Raymond Co uses the direct method to record bad debt expense. What are the journal entries regarding write-off of bad debts for the year
Describe the benefits derived from preparing an engagement letter. A CPA has been asked to audit the financial statements of a publicly held company
What is the optimal production plan,number represents the maximum amount of sawmill products that can be sold based on processing 1500 batches of raw logs.
Analyze statements about accounting and the recording process. Josh Cephus has prepared the following list of statements about accounts.
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