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Problem 1: On December 31, 2019, Kier Corporation purchased 30,000 shares of Lord Company's shares at P100 each. On December 31, 2019, Lord Company's shares are selling at P125 per share. On February 1, 2020, Kier received 30,000 rights entitling it to purchase at P130 per share one additional share of Lord for each 10 shares then held. On that date, Lord's shares were selling ex-rights at P145 and the rights were selling at P5.00. If the securities were classified by Kier as Trading Securities at the time of acquisition and assuming the entire share rights were sold at their prevailing market price of P5.00, what amount of gain on sale of share rights should Kier Corporation recognize?
Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, 20X5, balance sheet
No dividends were paid during 2014, and net income for the year was $400,000. Determine Smith's return on stockholders' equity for 2014
Explain how Cole Hardware used technology to manage inventory and identify at least two benefits of the use of this technology by the company.
What is the break-even point in sales dollars and in units if the fixed factory overhead increased by $1,700
Where can the amounts needed to compute the accounts receivable turnover ratio be found? Both the income statement and balance sheet
How would your current or former employer benefit from the information and how does it apply to their business operations? Add examples
Question - Recording Depreciation and Repairs. Prepare the adjusting entry that was made at the end of 2019 for depreciation on the manufacturing equipment
On January 1, 2018, XYZ Company paid $380,000 to purchase land, building, and equipment. The market values of these assets on that date were: land $80,000.
Interest is payable annually on January 1. Prepare the journal entries to record the accrual of interest on December 31, 2014
Find how many units should be produced in July? The ending finished goods inventory equals 20% of the following month's unit sale
your finance text book sold 56000 copies in its first year. the publishing company expects the sales to grow at a rate
The township entered into a contract for construction of the fountain at estimated cost of $7,275,000. Prepare journal entries required for Capital Project Fund
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