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Question - On October 1, 2020, Yost Company purchased 4,000 of tbP1,000 face amount, 10% bonds of Pell Company for P4,400,000 which included accrued interest of P100,000.
The bonds, which mature on January 1, 2027, pay interest semi-annually on January 1 and July 1.
The entity used the straight line method of amortization and appropriately recorded the bonds as financial asset at amortized cost.
Required - Prepare journal entries for 2020 and 2021.
spencer corp. reported accounts receivable of 28000 on its december 31 2011 balance sheet. on december 31 2012 accounts
Prepare a bank reconciliation as of October 31, 2020, including the calculation of the book balance of October 31, 2020. and prepare all entries
Assume loan interest APR is 8%. If you want to have this debt paid in full within ten years, how much must you pay each month?
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Complete vertical and horizontal analyses for the 2 most recent annual reports. As a publicly traded company, what accounting ethical issues should the company
Merchant's sales manager believes that it is important to continue to produce JT484 to maintain a full product line. He expects the elimination of JT484 will reduce sales of the remaining two products by 5% each. Will this information change your ..
If the common stock had a market price of $210 per share before the stock split, what would be an approximate market price per share after the split?
Entity X enters into a 3-year lease of equipment. The lessor will recognize a net investment in the lease at the lease commencement equal to
A calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. What is the after-tax income if Manny sends his client the bill
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The current tax law system in the United States has emerged over many years from statutory, administrative, and judicial sources. These sources are continually changing and new laws are introduced at least annually.
Which causes a market to be weak-form efficient? Investors analysing past prices and buying shares they think are more likely to increase than decrease
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