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Question - Blue Company discovered an error in its accounting records in 2021. Blue acquired patents costing $540,000 on January 1, 2019. The patents have been amortized on a straight-line basis over their 15-year legal life. However, Blue's accountant neglected to obtain an estimate of the patent's economic life, which was only 5 years. Blue Company used a calendar fiscal-year and was subject to a 30% tax rate and follows ASPE. Prepare the journal entries to correct the accounting error and record patent amortization for 2021.
The branch writes off uncollectible accounts of P3,750. What is the adjusted balance of branch current account as of December 31, 2016
Karim Corp. requires a minimum $9,000 cash balance. Prepare a cash budget for July, August and September
Pina Colada Corp. common stockholders equity at the beginning and end of 2017s was $480000 and $560000, find return on common stockholders equity
Junie Jones, is Scott's tax preparer, and explains that the foreign tax credit may be claimed in which of following ways on his tax return?
Use 2019 actual data to complete the 2019 Actual column incorporated with the budget and variance analysis tab.Compute the break-even in units and dollars.
Headquartered in Beijing, China, the Bank of China (BOC) is the oldest bank in the country. Describe BOC's most recent financial performance
Prepare the Jan. 2, 2018 journal entry for the issuance of 200,000 ordinary shares for P12 cash per share assuming Ordinary Shares is no-par without a stated
Estimated income tax expense for the year $126,000 and Actual income tax expense for the year $92,000. Prepare Floormart Ltd journal entry for January
Oriole Corporation, having recently issued a $20,139,700, Will the fund at the end of 15 years be sufficient to retire the bonds?
Prepare journal entries to record the following transactions entered into by Harper Company:
a company had a market price of 37.50 per share earning per share of 1.25 and dividends per share of 0.40. its
Your friend Bob is studying architecture at another University and knows very little about accounting and annual reports. What is the Balanced Scorecard and how is this relevant to Qantas? In summary, how much were the Executives paid in 2015
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