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Problem 1: Palance Company provided the following calculation about an impairment loss recognized on December 31, 2019: CA of Goodwill 6,000,000; CA of Other assets 18,000,000; Impairment loss on Goodwill 6,000,000; Impairment loss on other assets 4,000,000. There has been a favorable change in the estimate of the recoverable amount of the net assets since the impairment loss was recognized. The recoverable amount is now P16,000,000 on December 31, 2020. The carrying amount of the new assets of would have been P14,400,000 on December 31, 2020. Assets are depreciated at 20% of reducing balance. What amount should be recognized as gain on reversal of impairment for 2020?
Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. What was the cost of the materials used by Beckett
For the year, Senior reported cost of goods sold of $600,000, What is the total amount reported on the consolidated income statement for cost of goods sold
Ramirez Company has an available-for-sale investment in the 6%, 20-year bonds of Soto Company.
Calculate what Joyce will pay at the end of the first quarter for (A) state unemployment and (B) federal unemployment.
This research-based assignment focuses on the latest available information about creating, organizing, and managing a total rewards program.
Funding, and accounting for the different colleges and universities
The following monthly data are available for the Winslow Company and its only product: Unit selling price $36. Find margin of safety for company during March
Compute the amount of depreciation expense that is deductible under MACRS for 2013 and 2014, assuming that the equipment is classified as five year property.
James is trying to determine if there is a relationship between machine hours and utility costs. Determine the expected utility cost
division x of charter corporation makes and sells a single product thats used by manufacturers of forklift trucks.
On November 1, Perez Company received Smith Company's $9,900, 75-day, Prepare the journal entries for Perez Company on November
On December 31, 2012, Faital Company acquired a computer from Plato Corporation by issuing a $600,000 zero-interest-bearing note, payable in full on December 31, 2016.
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