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Question - Omron Company sold goods to Exxon Inc. on account on January 1, 20x5. The goods have a sales price of P1,220,000 (cost P1,000,000). The terms of the sale is n/30. If Exxon pays within 5 days, it will be entitled to a P20,000 discount. Past history indicates that the cash discount will be taken. Prepare the journal entries for
a) January 1, 20x5
b) January 31, 20x5-date of payment.
Hawaiian Specialty Foods purchased equipment for $27,000. Calculate depreciation expense for the first year using double- declining-balance
XXX sold the land to an unrelated party for $85,000. What was the gain on the sale of the land on the consolidated income statement for 2015
What is the operating cash flow for 20X2? What is the cash flow from assets for 20X2? What is the cash flow to creditors for 20X2?
this year mary received a 200 refund of state income taxes that she deducted on her tax return last year. mary included
Research Assignment Question - ACC701 Financial Accounting - Discuss, analyse and research ethics and governance of the above case. Your paper should address the stakeholders, ethics, governance, changing depreciation methods and suggestions for An..
Rex, a budget officer, conducted a class for nonaccounting managers and program directors on the subject of budgets. Rex began the class discussion by asking, What are some of the uses of a budget?
prepare a statement of cash flows for the year ending december 31 2014 using the indirect method of reporting cash
Break-Even Analysis
The firm's net sales are subject to a 6 percent sales tax. How to prepare the general journal entry to record payment of the sales tax payable on April 30, 2019
How and why have airlines reduced labor's compensation and how have labor relations been affected
Cash dividends of $3 per share on 4,000 shares of common stock were declared and paid. Prepare Kittson's statement of retained earnings for the year ended
Problem - Comprehensive Business Income. The Company deducted a loss of $10,100 resulting from a theft by one of its clerical employees
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