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Question - Affectionate Company sold merchandise on account for P500,000. The terms are 3/10, n/30. The related freight charge amount to P10,000. The account was collected within the discount period.
Requirement - Prepare journal entries to record the transactions under the following freight terms:
a. FOB destination and freight collect
b. FOB destination and freight prepaid
c. FOB shipping point and freight collect
d. FOB shipping point and freight prepaid
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. Make August income statement for the business
Required - Prepare a balance sheet on December 31, classifying and ordering all balance sheet accounts in the proper sections
How much is the VAT liability of Pedro? Pedro, CPA practitioner, signified his intention to be taxed at 8% on his sales/receipts and other income.
for the current taxable year corporations gross income from operations was 1000000 and its expenses from operations
Assume that an employee earned total wages of $9,900. What is the amount of total unemployment taxes the employer must pay on this employee's wages
on April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2006. The equipment had a salvage value of $5,000, and a useful life 10 years.
What is the correct journal entry to prorate the write off of the difference between allocated and actual overhead using the pro-rata approach
The management of Giant Ltd values non-controlling interest. Based on the above information, determine the non-controlling interest as at 30 June 2019
giere manufacturing had a bad year in 2011. for the first time in its history it operated at a loss. the companys
Use the residual valuation method to determine the amounts of the financial liability and equity components attributable to the issue of convertible notes
During the current year, Sands mined 350,000 tons of ore. Record the depletion in the current year in a journal entry
1. a liquidity ratio measures thea.percentage of total financing provided by creditors.b.income or operating success of
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