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Question - On January 2, 2021, Millette Company, an SME, received from a customer a one-year note with a face value of P1,500,000 that bears an interest of 12% per year. On July 31, 2021, Millette Company discounted the note at Millennium Bank, Millennium Bank used a discount rate of 10%. if the discounting is treated as a secured borrowing, what amount of loss Millette Company should recognize?
mcbean inc. reported net income of 300000 for the year ended december 31 2009. mcbean inc. had 50000 shares of common
The equipment has an estimated residual value of $8,000 and an estimated useful life of 10 years. Compute depreciation at the end of every year
Marigold Party Rental has 10 employees who earned a total of $31000 in November ($3100 each). Determine the net pay of the ten employees during November
Identify specific conduct violations committed by the organization and accounting firm in question. Examine the key inferences of corporate ethics related.
Assume that Bramble Company sells the same number of units in 2017 as it did in 2016. What would the selling price have to be in order to reach the stockholders
The donor paid gift tax of $15,000 on the transfer. If Margo later sells the property for $110,000, compute what is her recognized gain or loss
Terrance believes he can invest any tax savings to get a 6% return. How much in total will Terrance gain if he defers the bonus until January?
How are the fund used which are provided by FUTA and SUTA?
Is there any time where a corporation can deduct losses incurred from an early sale of an investment against first previously earned interest income onthat investment and then record only the remaining amount of loss to the "loss on sale of invest..
The product has a contribution ratio of 30%. In a period when actual sales were £737,600, the company's margin of safety, in units, was
At the end of the year,What amount of net inventory on consignment remains on the balance sheet for the first year for EG Co.?
william sold section 1245 property for 25000 in 2011. the property cost 35000 when it was purchased 5 years ago. the
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