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Question - On January 1, 20x1, Le Minerale Corp. bought machinery under a contract that required a down payment of P 10,000 plus twenty four monthly payments of P 5,000 each, for total cash payments of P 130,000. The cash equivalent price of the machinery was P 110,000. It has an estimated useful life of 10 years and residual value of P 5,000. The company uses 150% declining balance method of depreciation. In its 20x1 statement of financial performance, what amount of depreciation shall be reported?
A 10-year annuity payable continuously has an annual payment rate h(t) = 1.03^t at time t (0 lessthanorequalto t lessthanorequalto 10). Given that the annual effective rate of interest is 6%, calculate the present value of this annuity.
Immediately after classification as held for sale of the disposal group, what amount should be disclosed separately in equity relating to non-current asset held
What are the likely effects of a policy in which a company fails to adjust for differences in risk when estimating the cost of capital for their various project
Aunt Sally’s “New Orleans Most Famous Pralines” sells pralines costing $1.06 each to make. If Aunt Sally’s wants a 30% markup based on selling price and produces 35 pralines with an anticipated 11% spoilage, what should each praline be sold for? (Rou..
Cedars Hospital has average revenue of $180 per patient day. Variable costs are $45 per patient day; fixed costs total $4,320,000 per year. a. How many patient days does the hospital need to break even? b. What level of revenue is needed to earn a ta..
Anderson Manufacturing makes a single product. Budget information regarding the current period
The bond is callable at $1,150; but based on prior experience, it will not be called unless the conversion value is $1,250. What value you assign to this bond
On January 1, 2015, Boston Enterprises issues bonds that have a $1,750,000 par value, mature in 20 years, and pay 10% interest semiannually on June 30 and December 31. The bonds are sold at par. Prepare journal entries to record (a) the issuance of b..
Consider the following scenario: John buys a house for $135,000 and takes out a five year adjustable rate mortgage with a beginning rate of 5%.
Derwent Ltd manufactures telecommunications equipment at its plant in Geelong. The company has marketing divisions throughout the world. A Derwent Ltd marketing division in Dallas imports 10000 units of product B12 from Australia. Calculate the after..
What is the nature of the liability in accounting? How Newmont Mining Corporation reclamation and remediation liabilities
Fraud in South Africa is negatively affecting economic growth and development. Discuss FIVE (5) types of fraudulent activities
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