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Problem 1: Sulli Bhd. shares capital consist of 50million no. of shares paid up to RM60million and retained earning RM22million. Sulli Bhd. made a rights issue of RM15million new ordinary shares at an issue price of RM1.60 per share to existing shareholders. Prepare the relevant journal entries and extract SoFP for Sulli Bhd.
you are planning to take a major vacation 7 years from now. you deposit 3000 in the bank today earning an 6 rate of
Explain how the journal entries affect the balance sheet and income statement of ParentCo (use examples to support your responses)
If the enacted tax rate is 34% for all periods, and income taxes payable for the period is $230,000, determine the amount of total income tax expense to report
The City of Watersville approved the construction of an enclosed concert arena for a total cost of $75,000,000 in order to attract professional events.
Josh Rink considers himself a shrewd commodities investor. Not long ago he bought one July cotton contract at $0.54 a pound and he recently sold it at $0.58.
explain how to contruct an unadjusted trial balance and provide an example of the application of the debit credit rules
Salisbury Company purchased land for the future factory location at a cost of $107,000. How much should be recorded as the cost of the land
Kira Wahlgren acquired 100 shares of stock by gift from her father. Her father paid $1,000 in gift tax on the gift. At the time of the gift, the shares had a fair market value of $60 per share. Her father's adjusted basis in the shares was $90 per..
Several managers in your company are experiencing personal financial problems and have asked that your company switch from LIFO to FIFO so that they can receive bigger bonuses, which are tied to the company's net income. How would you respond to this..
What amount of net income did Nguyen Service Co. report on the 2013 income statement?
the following information is for x companys two products - a and bproduct aproduct bsales8600085000total contribution
A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable, Prepare bank reconciliation at March 31
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