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Question - On January 1, 2018 Karen Company acquired a 4-year bond with a face value of Php 1,200,000 and a stated interest rate of 10% per year payable annually on December 31. The bonds were acquired to yield a 12% and is to be accounted as financial asset at amortized cost.
Required - Based on the above, answer the following:
1. How much is the purchase price of the bonds on January 1, 2018?
2. How much is the interest income for 2018?
On Jan 9, 2010, Swifty Delivery Service purchased a truck at a cost of $67,000. Before placing the truck in service, Swify spen $2,200 painting it, $500 replacing tires, and $5,000 overhauling the engine. The truck should remain in service for 6 y..
Franceour Mining Co. purchased for $7,125,000 a mine that is estimated to have 37,500,000 tons of ore and Calculate depletion cost per unit
Why is a knowledge of accounting concepts and terminology useful to anyone in a business activity? Is there a difference between bookkeeping and accounting? Discuss.
What would Ajax Company report on its balance sheet as the amount of its investment assuming they classify the investment as an Equity Method security
Calculate the cost per equivalent unit for materials and conversion costs. Calculate the cost of ending Work in Process
Global Toys, Inc., imposes a payback cutoff of three years for its international investment projects. Assume the company has the following two projects available. Year Cash Flow A Cash Flow B 0 -$ 53,000 -$ 98,000 1 21,000 23,000 2 27,800 28,000 3..
Interest Revenue $5,000, Freight-out $1,500, Utilities Expense $7,400, Salaries Expense $18,500. Prepare the closing entries for the Dionne's accounts.
Assess the financial performance of Amazon.com, Prepare an income statement for the year ending December 31, based on the com, Inc. financial statement data
Use the following adjusted trial balance of Wilson Trucking Company to prepare the
Given- Michael capital $118,400, Service revenue $256,400, Unearned revenues $5,400 and Salaries expenses $70,000. Make T-account what is ending capital balance
XYZ company uses normal costing.Following are various Cost and inventory data for the just completed year. How much is the manufacturing overhead costs applied.
What adjustments should be made to the 2008 beginning balance sheet income statement to recognize an asset for both research
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