Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - NOREEN INC, a truck dealer, sells a truck on January 1, 2019, to MENDOZA INC for P3,000,000. NOREEN agrees to repurchase the truck on December 31, 2020 for P3,630,000.
1. Assuming a 10% is imputed in the agreement, how much is the liability of NOREEN on January 1, 2019?
A. 1,500,000
B. 1,815,000
C. 3,000,000
D. 3,630,000
2. Using the information above, what is the interest expense for 2019?
A. None
B. 300,000
C. 330,000
D. 630,000
3. How much should NOREEN INC record interest and retirement of its liability to MENDOZA INC on December 31, 2020?
B. 300,000; 3,600,000
C. 330,000; 3,630,000
D. 630,000; 3,630,000
The branch had on hand inventory purchased from the home office at an amount of P40,000. How much intracompany profit that is realized during the year?
Your client reports that the goods on hand on July 16 cost $30,500, Compute the claim against the insurance company
On Jan. 1, 2021, XYZ Bank extended a 3-year P5,000,000 loan. What is the total receivable related to the loan to ABC on Dec. 31, 2021?
If this plan of reorganization is accepted and becomes effective, what journal entries would Holmes Corporation record
The State Government administers a special revenue fund, the Fish and Game Fund . By legislation, revenue in this fund can be used only for the purpose.
the industry average is about 75 days. the firm has also experienced an increase in its business in the last 2 years
Determine the graphical display tool that you would use to present the results of DOE that you conducted in Question 1. Provide a rationale for your response.
The Purchasing Power Parity (PPP) does hold. How much Australian dollar the BHP Billiton will pay that equivalent to 2 million CNY after one year?
Established a plant addition fund of $490,000 to be available at the end of year eight. In transaction (a), determine the present value of the debt
Samuelson Plastics has 7.5 percent preferred stock outstanding. Currently, this stock has a market value per share of $52 and a book value per share of $38. What is the cost of preferred stock?
Describe at least two (2) career options someone with an accounting education can pursue
What are the computational guidelines for determining whether a convertible security is to be reported as part of diluted earnings per share?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd