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ABC Ltd was registered on 30 June 2019. The next day, the directors issued a prospectus inviting applicants for 400000 ordinary shares with an issue price of $2. The shares were payable in full on application. By 31 July, the company had received 500000 applications, together with the application monies. The directors allotted 400000 shares on 1 August and returned the money for additional applications.
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Problem (a) Prepare general journal entries to record the above data. Enter the above data into ledgers.
Rustans Trading Co. operates a branch in Cebu City. What is the unadjusted balance of the Investment in Cebu Branch account on December 31,2018?
What is the maximum loan that the company will need between January and June?
Consider the following products: (a) a power screwdriver for use in the home; (b) a desktop inkjet printer; (c) an electric car. Using Web based resources, make your estimate of the following factors needed for the development project to launch each ..
The ending warranty liability balance was $4300. How much did they pay out to settle customer warranty claims?
What would the investors expected the price of the stock to be one year from now? It beta is currently at 0.8 and its year end dividend is expected to be $1.50.
What is the company's cost of goods sold if a periodic LIFO system is used? What is the company's cost of goods sold if a perpetual LIFO system is used?
You start a Business with a Company called Sweet Dreams that produces software in Jan 2017.
Compute the Rent Expense reported in Star Company's profit or loss for the year ended December 31. 2020 and December 31, 2021.
Ava’s SpinBall Corp. lists fixed assets of $22 million on its balance sheet. The firm’s fixed assets have recently been appraised at $36 million. Current liabilities’ book and market values stand at $5 million and the firm’s book and market values of..
Beginning accounts payable was $61,500 and ending accounts payable was $72,000. How much cash was paid to suppliers during? 2020?
Compute the rate charged per hour of labor. Compute the material loading percentage. The company estimates that it would require 80 hours of labor and $40,000 of parts. Compute the total estimated bill.
If similar equipment would cost $150,000 to replace and the partners agree on a valuation of $40,000 for the contributed equipment, what amount should be debited to the equipment account?
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