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Question - Alyssa Corporation had the following transactions in the no-par value ordinary shares of Dada Corporation which she is holding as a long-term investment;
-Purchased 1,000 shares at P90 per share.
-Received a 20% stock dividend.
-Received a cash dividend of P1 per share.
-By proper resolution, there was a 2-for-1 split.
-Received rights to purchase Yssa ordinary shares at P85 per share. Four rights were required to purchase one new share. Rights have a market value of P 3 each and the stock is selling ex-rights at P97 per share.
-Exercised 400 rights.
-Sold the remaining rights at 120% of the cost.
-Sold 1,000 shares at P45 per share. Use FIFO method.
Required - Prepare journal entries?
Mr Michael Maguire, Find the amount paid to Mrs Lynette Lowry for her report that should be included in the NPV calculation of the new machine
Potters has acquired several other companies. Assume that Potters purchased Kittery for $6,000,000 cash. The book value of Kittery’s assets is $12,000,000 (market value, $15,000,000), and it has liabilities of $11,000,000 (market value, $11,000,000)...
LG display will build a LCD production plant at the cost of $ 4 billion. The plant will produce panels larger than 40 inches using glass substrates between 2200 mm and 2500 mm with a total capacity of 120,000 units per month.
On January 1, Year 3, Garnet Corporation purchased equipment with a list price of $85,000. What amount should Garnet record as the cost of the equipment?
Determine the ending inventory balance Smithson would report in its August 31, 2018, balance sheet, the cost of goods sold, and gross profit percentage
Explain how Peter Drucker's statement about how one company's back room is another company's front room pertains to outsourcing. Use an example.
Assuming that the company uses the perpetual inventory system, Determine the ending inventory for the month of May using the LIFO inventory cost method.
What amount of net income would be necessary so that Boongaling would consider choices to be equal? Boongaling is trying to decide whether to accept a salary.
Arun sends goods on consignment to Seemu. Give Consignment Account and Seemu's Account in the books of Arun and Arun's Account in the books of Seemu.
Identify the substantive test that should detect each misstatement. For each test, indicate the financial statement assertion(s) to which it pertains.
ACC514 - Financial Accounting. Prepare a 2 page newsletter that identifies and summarises developments and changes in the financial reporting environment for the quarter from 1 May to 31 July 2016
Make the necessary journal entries for each of the above dates. 2,000,000 shares authorized: 40,000 shares of $6 par value sock issued and outstanding
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