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Question - On January 1, 2020, Second company has acquired 2,000 shares of another company at P10 per share. The cost of investment includes transaction costs P1.5 per share. The company opted to present this investment at fair value through other comprehensive income irrevocably. At the end of 2020, the market price of the shares is P15 per share and this was sold at P18 per share on January 2, 2021. How much should the investment be initially recognized?
Why auditors use sampling in their work? What is Attribute Sampling? Discuss its salient features and where it is used using a suitable example
It will grow for 6 years at 10% interest compounded semiannually. You will then withdraw the funds annually over the next 4 years
Explain in words the basic forces and incentives operating in this part of business cycle and What are bond prices and yields doing
Determine the proceeds of the note assuming the note carries an interest rate of 10%. Batson Company issued a 60-day note with a face amount.
Discuss the proper accounting treatment, including any required disclosures, for each situation. Give the rationale for your answers
Prepare the journal entries for Oakwood to record the debt restructuring agreement and all subsequent interest payments for independent.
Provide the journal entry for (a) the estimated warranty expense on August 31 and (b) the October 15 cash payment
Prepare the necessary adjusting entries at December 31, 2013 for the Pastina Company for each of the following situations
Xeno Corporation was formed in 2015 and adopted a calendar year. In 2018, it switched to a fiscal year beginning April 1. Determine Xeno tax liability
Use logic and the accounting principles you have learned thus far to develop your argument. You must include at least three points as to why this route
Skipper, Inc., earns pretax book net income of $500,000 in 2011. Skipper acquires a depreciable asset in 2011, and first-year tax depreciation exceeds book depreciation by $80,000.
Dog Up! Franks is looking at a new sausage system with an initial cost of $445,000 that will last for five years. What is the NPV of this project
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