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Question - Painter Ltd purchased 90 000 shares in Easel Ltd on the 1 July 2020, at a price of $3.50 each. The Broker charged a fee of $7 000 for processing the transaction. On 30 June 2021 the closing market price of the Easel Ltd shares was $5.20. Painter Ltd does not intend to hold the shares for trading and does not make the fair value through other comprehensive income election (FVOCI).
Required - Prepare the journal entries for Painter Ltd to account for the initial acquisition of the shares on 1 July 2020, and the subsequent re-measurement at the end of the financial year on 30 June 2021.
nieland industries had one patent recorded on its books. this patent had a book value of 288000 and a remaining useful
presented below are selected ledger accounts of woods corporation at december 31 2012.nbspcash185000sales
Dunne paid $25000 in Brazilian income taxes, Compute Dunne's U.S. Tax liability after any available FTCs. Assume the U.S. tax rate is 34%
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Division W of Comer Company has sales of $840,000, cost of goods sold of $500,000, operating expenses of $256,000, andinvested assets of $600,000. What is the rate of return on investment for Division W?
Calculate the current value of a black stuff ordinary share and also calculate the total gain or loss on the shares if Josephine sells them now
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Menlo Company distributes a single product. The company’s sales and expenses for last month follow:
Compute the amount of the annual lease payment and the gross amount (total payments) due under the lease
Given the journal entries below, make the neccessary adjusted journal entries. 1/15 PBP purchased a camera from Good Co. on account for $3000. The useful life is 5 years.
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