Reference no: EM132934809
Questions -
Q1) ATK Company had the following classes of shares outstanding as of December 31, 2020: Ordinary shares, P20 par value, 20,000 outstanding; Preference shares, 6%, P100 par value, cumulative and fully participating, 1,000 shares were outstanding. The last payment of preference dividend was on December 31, 2017. On December 31, a total of cash dividend of P90,000 was declared.
What are the amounts of dividend payable on both the ordinary and preference shares respectively?
A. P67,200 and P22,000
B. P57,600 and P32,400
C. P72,000 and P18,000
D. P62,400 and P27,600
Q2) On January 1, 2021, ETC Company sold machinery with a carrying amount of P500,000 for P700,000. The fair value of the asset on this date has been determined to be P650,000. ETC immediately leased the machine back for P150,000 annually, payable in advance for 5 years. The implicit rate is 12%. If the transfer does not meet the requirements in IFRS 15 to become a sale, how much is the gain on sale-leaseback that ETC needs to recognize?
A. P0
B. P21,786
C. P150,000 P50,000
D. P200,000
Calculate US Trade and Current Account
: Americans bought $20m worth of Kuwait oil. Calculate U.S. Trade, Current Account, Basic, and Performance balances for 2019
|
How much cancellation fee will Mr Tom pay
: How much cancellation fee will Mr. Tom pay and what will be the new order value? How much money will be refunded to Mr. Tom's account
|
Compute the net advantage to leasing
: Question - Engro Incorporation wants to evaluate an acquisition of an equipment worth $200,000. Compute the net advantage to leasing
|
What is the role of the tax agent
: What is the role of the tax agent in determining their client's tax compliance? Explain the objection, appeals and review process
|
How much is the gain on sale-leaseback
: If the transfer does not meet the requirements in IFRS 15 to become a sale, how much is the gain on sale-leaseback that ETC needs to recognize
|
What are the carrying amounts of right use assets
: Millennial expects its annual sales in the next 4 years to exceed P2,000,000 by P100,000. What are the carrying amounts of right use assets
|
What the number of units required to be produced
: Units in targeted ending inventory 9,000. What the number of units required to be produced in the coming period
|
What is Krell dividend yield and equity cost of capital
: If Krell is expected to pay dividend of $0.81 this year and its stock price is expected to grow to $24.55 at the end of the year, what is Krell dividend yield
|
What is the amount of the sale
: A sale of merchandise on account for $17,350, terms n/30, is subject to an 6% sales tax. What is the amount of the sale
|