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Question 1: An entity used the composite method of depreciation based on 25% composite rate. On January 1, 2019, the total cost of equipment was P5,000,000 with total residual value of P600,000 and accumulated depreciation of P3,000,000. In January 2019, the entity purchased an equipment for P2,500,000 with no residual value. On December 31, 2019, the entity sold an equipment costing P 1,000,000 for P350,000. The said equipment was acquired on January 1, 2017 with residual value of P200,000. What amount of depreciation should be recognized for 2019?
Find Gregson ending inventory using absorption costing and evaluate Gregson ending inventory using variable costing?
Prepare journal entries to record income taxes in all 4 years. Assume that the change in the tax rate to 40% was not enacted until the beginning of 2008.
contribution and income tax was $75,000. The income tax rate is 30%. What amount should be accrued as a contribution to the ESOP
Which Mikel is not liable for a preparer penalty for taking an unreasonable tax return position if? Mikel prepared for compensation a Federal income tax return.
ABC Co. had the following account balances: What amount would ABC Co. reports as income from operations in its income statement
Give a lease amortization schedule for the lessor, Sahali Air, for the first two years (2020 and 2021). Round all amounts to the nearest dollar.
$280,000 on December 31, 2017. The hospital paid dividends of $10,000. What was the organization's net income for the period ended December 31, 2017?
An investment offers $9,100 per year for 16 years, with the first payment occurring 1 year from now. What is the value of the investment
This machine would replace six welders at a cost savings of $120,000 per year. And we would save another $8,100 per year in reduced material waste. When you figure that the automated welder would last for six years, I'm sure the return would be great..
Received telephone bill for July in amount of $75, payment is due on Aug 10. how would enter this and what date would be used, Provide the suitable example.
If the investor bought $20,000 shares in A and A had a beta of 0.9, calculate the portfolio beta and explain how will impact on market risk of the portfolio?
Portis, Inc. reported sales of $8,000,000 for the month and incurred variable expenses totaling $5,600,000 and fixed expenses totaling $1,440,000. The company has no beginning or ending inventories. A total of 80,000 units were produced and sold last..
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