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Case: Cesar Vasquez, a businessman, has the following personal properties: Cash, P100,00 Land, P200,000; building, P1 1,500,000 and car P500,000. He invested his cash and car an eatery The other assets of the eatery were purchased and paid for using the invested cash: furniture and fixtures, P30,000; equipment, P60,000, and supplies, P5,000.
Question: What accounting principle did you apply in recording the assets of the business Required: List down the assets of the eatery.
Power Music owns five music stores, where it sells music, instruments, and supplies. In addition, it rents instruments. At the end of last year, the new accounts showed that although the business as a whole was profitable, the Fifth Avenue store had ..
After that, the dividend will be increased by 2.5% per year. How much are you willing to pay for a stock of H&H today if you expect 8% market return?
Calculate the revenue to be recognised by Elliot Ltd for the year ended 30 June 2021 and prepare the journal entries related to the revenue
Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $25,000 required to complete the transaction.- Briefly state how this transaction affects the company's basic accounting equation.
The DRM only has Operations and Maintenance, Army (OMA) funds to purchase the system. The DRM must spend less than what amount to use Operations and Maintenance, Army appropriations for the computer system?
Jackson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity if 0.8 pound per glass as a cost of $0.30 per pound. The actual result for one month’s production of 6,900 glasses was 1.1 pounds per glass, at a cost of ..
You are offered ?$100,000 today or ?$300,000 in 13 years. Assuming that you can earn 11 percent on your? money, which should you? choose?
Victoria Company's beta is exactly 1.5, and the market risk premium is 10%, with a risk-free rate of 4%. What would Victoria shares intrinsic value per share
What amount of the above expenses is deductible as moving expenses on Winston's 2014 federal tax return? Which expenses are included in the deductible amount and which expenses are excluded from the deductible amount and why?
Change in Estimate Boraquist Corporation, How would the change in estimate be reflected in the accounts for 2015 and subsequent years?
What are effective ways to document the consideration of alternatives/evidence such that the audit documentation demonstrates skeptical thinking
Record the lease of the forklift truck, including the initial payment of $4000 and the first lease instalment of $2000, in the books of the lessor.
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