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Question - Last company has an investment in associate amounting to P52,000 as of December 31, 2019. This consists of 52,000 shares of investment which gives Last 20% ownership over the outstanding ordinary shares of the associate. On January 1, 2020, the associate issued 40,000 new and additional shares resulting to an increase in the outstanding ordinary shares. The new shares were offered to the existing shareholders of the associate including Last company. For some reasons, Last didn't acquire the new shares and the shares were sold to other shareholders. As of December 31, 2020, the net income of the associate is P1.500,000 and the share is traded in stock exchange at P1.50 per share. How much should this investment be presented in Last's 2020 financial statements?
Zapato Company produces two types of boots: vaquero and vaquera. Calculate the consumption ratios for the four drivers
Ziegler Corporation reports net income of $380,000, Compute the earnings per share of common stock
Currently the unit selling price of a product is $300, the unit variables cost is $225, Compute the current break-even sales (units)
redtail mfg has the following data selling price 60 variable manufacturing cost 33 fixed manuf. cost 250000 per month
Truson company paid a 8% taxable wages of $108,500. the taxable wages under FUTA were $89,400. what was the net FUTA tax of truson company?
morse company manufactures basketballs. materials are added at the beginning of the production process and conversion
Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above
How much deduction will Fast Track Corporation be able to take as organizational expenditures for 2015
Paul and Julie had an adjusted gross income of $62k and Tina's eligible education expenses were $4,900. What amount may the Halls claim for the Tax
Headland Inc. issues $2,012,900 of 9% bonds due in 14 years interest payable at year end. What amount will Headland receive when it issues the bonds
What about the young, unmarried girl with a new baby trying to get to work? She does not have a car and must use public transportation. Her employer does not provide maternity leave, so she must work to provide food for her baby. What would her da..
Equipment acquired at beginning of the year at a cost of $340,000 has an estimated residual value of $45,000, Determine the annual straight-line depreciation
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