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Question - At the audit of MCQ Corporation, you have found that a property was purchased for P500,000 on 1 January 2017. The useful life of the property is 20 years (zero residual value). The property is being measured subsequently at depreciated historical cost.
On 31 December 2018, it was decided that the property was to be classified as held for sale (classification criteria were met). An impairment assessment on 31 December 2018 had determined the recoverable value (based on value in use) to be P400,000. The Fair Value less Costs to Sell on 31 December 2018 was P390,000.
At 31 December 2019, there is a change in plans and the property no longer meets the criteria to be classified as held for sale. There is no change in the useful life of the property at any point. The recoverable value at 31 December 2019 is P385,000. Show how the property would be measured (accounted) for in 2018 and 2019.
Redster Company is a manufacturing firm. Presented below is information concerning one of its products, called Ander. Using an Excel spreadsheet, compute the cost of goods sold under the following situations:
Comparative financial statements for Weller Corporation, a merchandising company, Compute following financial ratios for this year: Times interest earned ratio
The company considers that a profit of £80 000 should be achieved to provide an adequate return on capital. The managing director has asked that a review be made of the present pricing and marketing policies.
What is the bond's yield to maturity? Round your answer to two decimal places. What is the bond's current yield? Round your answer to two decimal places.
Explain why this pricing strategy earned Disney a lower profit than the current strategy of requiring visitors to purchase a ticket to enter the park but not requiring an additional ticket to be purchased for each ride.
Wagner Industrial Motors, which is currently operating at full capacity, has sales of $2,290, current assets of $630, current liabilities of $320.
1. Define and discuss the purpose and impact of Active Participation 2. Define and discuss the purpose and impact of Tax shelters 3. Define and discuss the purpose of "Fruit of the Tree"
Question - Based on the adjusted account balances below, what is the total of the asset side of the adjusted tabular summary
Imagine that your client is unable to make his / her business loan payments and creditors are threatening legal action. Recommend one (1) strategy to your client that will best protect his / her business and personal interest from the creditors. S..
During FY 2018 Bay Manufacturing had total manufacturing costs are $442,000. Their cost of goods manufactured for the year was $469,000.
Emu Company, which was formed in 2010, had operating income of $200,000 and operating expenses of $120,000 in 2010. In addition, Emu had a long-term capital loss of $10,000.
As part of a study for the department of labor statistics, you are assigned the task of evaluating the improvement in productivity of small businesses.
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