Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem - On December 31, 2010 a company was indebted to Creditor Co. on a P2,000,000 10% note. Only interest had been paid to date. Due to its financial difficulties, the company has negotiated a restructuring of its note payable. The parties agreed that the company would settle the debt on the following terms:
settle 1/2 of the note by transferring land with a recorded value of P800,000 and a fair value of P900,000
settle 1/4 of the note by transferring 200,000 shares of P1 par ordinary shares with a fair market value of P15 per share
modify the terms of the remaining 1/4 of the note by reducing the interest rate to 5%, extend the due date 3 years from the date of restructuring and reducing the principal to P300,000.
How much was the (1) total gain on extinguishment of debt and (2) carrying amount of the note payable as of December 31, 2021?
Explain the difference between reporting accounting changes, changes in estimates, and error corrections. How do explain the effect on the financial statements
ACC701 - role in changing depreciation methods - stakeholders and the impact - Students must provide 8 academic references to support their response
On December 31, 2014, Powers sold an administrative building (depreciation expense goes to operating expense) to Sculley at a gain of $10,000. During 2015, the building was used by Sculley. Depreciation is being computed using the straight-line metho..
Rick Rocker, a citizen and resident of country F, decides to perform a concert in Los Angeles. The U.S. promoter has agreed to pay Rocker $1 million. Rocker himself incurs $200,000 of expenses in connection with the concert. When the promoter pays Ro..
The coupon rate on the bond is 6?%. If you can reinvest coupons at a rate of 2?% per? annum, then how much money do you have if you hold the bond to? maturity?
Cairns owns 80 percent of the voting stock of Hamilton, Inc. The parent’s interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisitio..
In an effort to achieve short-run profit maximization, limited resources should first be allocated to the product with? The highest contribution margin per unit
What are the normal methods, and normal costs of going public? How does the underwriting process used by financial institutions in IPO mitigate
When to measure or when to record liabilities. Our chain of restaurants is unfortunately closing one of its locations. The employees are being laid off
Compute the beginning balance in the cash account and how much cash was provided by (or used in) operating activities?
Explain in detail whether the mixed measurement model is the ideal financial reporting model and its use should be continued. Do you agree?
How much is the materials price variance? Edgar, Inc. has a materials price standard of P2.00 per pound. Six thousand pounds of materials were purchased
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd