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Honesty Company established an agency in Cebu City sending its merchandise samples costing P90,000 and a working fund of P50,000 to be maintained on an imprest balance on April 15, 2020. During the month of April, the agency transmitted to the home office sales orders costing P468,750. However, the home office was able to fill-up only 80% of the orders. Total cash of P250,000 was collected from the customers. A home office disbursement chargeable to the sales agency includes the acquisition of equipment for Cebu agency, P180,000 to be depreciated at 10% per annum. The agency paid expenses of P43,700 and received replenishment thereof from the home office. The agency samples are good for one year only. It was estimated that the gross profit on goods shipped to agency averages 25%.
Problem 1: How much is the net income (loss) of the agency?
Suppose that the preferred stock is noncumulative, and the total amount of dividends is $29,000 and compute the amounts of dividends, in total and per share, that would be payable to each class of stockholders.
In how many years an investment of 5000?, will amount to 7000?, if it is invested at %8 compounded quartely?Provide the calculations.
Evaluate whether the Kings should keep Dawkins or trade for Harper . Imagine the trade would occur on 1st January, 20X3.
Starting with the debit balance of $56,250, bring the the cash book (bank column) up to date? and Bank Reconciliation statement?
tower interiors has made the forecast of sales shown in the following table. also given is the probability of each
Take the numbers from their corporate website ONLY and then take the rate of USD and convert the numbers from Pounds to USD - One way to address this situation is to convert the financial statements of firms into a standard format before undertaking..
The Accounts receivables balances at the beginning and end of the year were P600,000 and P700,000, respectively. The receivables turnover was
Identify and discuss the three most important personal factors and the three most important economic factors that affect your financial planning decisions.
Sally contributed the land to Coaters in exchange for a 5% stock distribution. How would this transaction appear in the statement of cash flows?
If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round your intermediate calculations)
Assume that the current dividend per share is $1.52 and is expected to grow thereafter, and that the cost of equity capital is 8.0%
Truck Company trades its used delivery trucks for new models at Greenwich GMC. The used trucks have a book value of $60,000 (original cost $140,000 less $80,000 accumulated depreciation). The new trucks have MSRP of $80,000. Prepare the journal entri..
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