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Problem 1: Gwapa Ko opens a servicing business and started a capital of P200,000. At the end of the year, the creditor's claim is P100,000 and the owner's equity is 80% of the total assets. How much is the total assets at the end of the year??
The adjusted trial balance of Rocky Acre Spread Inc. on December 31, 2012 includes the following accounts: Accumulated Depreciation, $6,000; Depreciation Expense, $2,000; Notes Payable $7,500; Interest Expense $150; Utilities Expense, $300.
Explain the necessity for performing substantive testing even for audit clients with strong internal controls and sophisticated IT systems.
How would someone segregate duties at Ravens Head Ranch?, Is the board of directors at Ravens Head Ranch functioning effectively?
A friend has $950 that has been saved from her part-time job. She will need her money-Calculate the interest earned on the savings account for six months.
The variable cost per unit was $30, and Bayside's margin of safety was 30,000 units. What was the amount of Bayside's total fixed costs
Suppose that at the end of 2007 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital have changed?
Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of A1 Kitchen Company, a restaurant supply company
Which one is not a main objective of the Sarbanes-Oxley Act? Which one is not correct practice under GAAP
If Morris is operating at full capacity and Morris accepts Baker's offer, what would be the change in Morris's operating profits
Calculate the indifference point between the two cost structures, that is, the amount of unit sales that produce exactly the same operating income for Company
Determine How much would be credited to bonds payable? It is reliably determined that the bonds would sell only at 95 without the conversion privilege.
What base amount is used for horizontal analysis of both income statement and balance sheets? Give an example. What do liquidity ratios represent
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