Reference no: EM132941769
The trial balance of Diamante Corporation as of Dec. 31, 2018, contained the following selected balances:
a. 17% Notes Payable, due May 1, 2020 P 4 000 000
b. Allowance for Uncollectible Accounts 60 000
c. Ordinary Shares, no-par, P20 stated value; 6 000 000
300 000 shares
d. Retained Earnings-Unappropriated 500 000
e. Cash Dividends, Payable (declared Dec. 14 000 15 on preference
f. Appropriation for Pending Litigation 600 000
g. 6% Preference Shares, P200 par, 600 000
3 000 shares authorized, issued
and outstanding
h. Donated Capital 400 000
i. Share Premium-Preference 10 000
Required:
Problem 1: Present the shareholders' equity section of the statement of financial position as of Dec. 31, 2018.
|
What amount is included in charles net income
: What amount is included in Charles's net income for tax purposes for the current year? Charles, individual, received $850 in dividend income from a foreign corp
|
|
What amount is included in benjamin net income
: Benjamin, an individual, received $40,000 of non-eligible, What amount is included in Benjamin's net income for tax purposes for the current year?
|
|
Concept of sustainable event management
: The concept of sustainable event management has been gaining a worldwide acceptance in the past decades with the government, sponsors, and community members a s
|
|
What amount is included in arlo net income for tax purposes
: What amount is included in Arlo's net income for tax purposes for the current year? Arlo is an individual, that received $50,000 of eligible dividends.
|
|
Present the shareholders equity section of the statement
: The trial balance of Diamante Corporation as of Dec. 31, 2018, Present shareholders' equity section of the statement of financial position as of Dec. 31, 2018
|
|
Discuss a positive and a negative experience
: Discuss a positive and a negative experience that you have had with evaluation/observation. What did you learn from these experiences and how will this affect y
|
|
Is there a potential downside to behavior
: Why would collecting all money owed within 30 days and paying bills in 90 days help protect a business? Is there a potential downside to this behavior? What is
|
|
Determine how many radio and television spots are needed
: The agency's account executives are available for 4,000 hours per month. Determine how many radio and television spots are needed to maximize exposure of the pr
|
|
Compute for the accrued liabilities on dec
: Compute for the accrued liabilities on Dec. 31, 2018. The bill for December's utility costs of P30 000 was received and paid on January 10, 2019.
|