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Question 1 - Rosa Company has an incentive compensation plan under which the president is to receive a bonus equal to 10% of income after deducting income tax and after deducting the bonus. The income before income tax and the bonus is P6,398,600. What is the bonus for the current year?
Question 2 - Polly Company had P3,000,000 note payable due on June 30. 2021. Under the existing loan facility, the entity had the discretion to refinance or roll over the note payable for at least twelve months after the end of the reporting period. On December 31, 2020, what amount of the note payable should be reported as current liability?
Mary Sunny began business as Sunny Law Firm on November 1. Record the following November transactions by making entries
Calculate the consolidated taxable income and consolidated tax liability of Greenacre Corp and Blueacre for 20x6. Then calculate the basis of Greenacre Corp's.
oliver gave his wife 5100000 worth of publicly traded stock in august 2011 outright. olivers basis in the stock was
riegel company uses the lower-of-cost-or-market method on an individual-item basis in pricing its inventory items. the
Comment on Marcie's intentions based on the following assumptions.- All parties live in Indiana (a common law state).
Prepare a schedule analyzing the partners' capital prior to liquidation of the partnership. Assume use of the bonus method to record all changes
In the absence of restrictive provisions, what are the basic rights of stockholders of a corporation?
Why do firms calculate their weighted average cost of capital? In computing the cost of capital, which sources should be considered?
On June 30, 2012, Carmack Company concludes that a customer's $3,750 receivable, What effect will this action have on Carmack's 2012 net income? Explain
california customs designs llc is a business that customizes motorcycles and automobiles according to the customers
Sunland Company uses IFRS for its financial reporting. It produces machines that sell globally. What is the expected value of the warranty cost provision
Exponential means-singly censored. Suppose that one observes the first rk order statistics of a sample of size n , from an exponential distribution with mean θk = 1,. . . , K . where the samples are statistically independent.
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