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Question - In 2019, Corporation issued for P 100 per share, 15,000 convertible preference shares of P100 par value. One preference share may be converted into three ordinary shares of P25 par value at the option of the preference shareholder. On December 31, 2019, all of the preference shares were converted into ordinary shares. The market value of the ordinary share at the conversion date was P40. What amount should be credited to ordinary share capital on December 31, 2019?
The actual machine hours for the year turned out to be 35,000. Compute the company's predetermined overhead rate
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Lease is properly classified as a capital lease, what is the amount of interest expense recorded by Sandhill, Inc. in the first year of the asset's life?
Earned net income of $120,000. At Xi'an's fiscal year end of 2020, what is the corporation's total paid-in capital? What is total stockholder's equity
Jack and Jill are married and have three dependent children, and they file a joint return in 2014. If they wish to minimize their federal income tax liability and have adjusted gross income (AGI) of $90,000 and their itemized deductions are $10,00..
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Academy Driving School reported the following amounts in its financial statements: Calculate EPS and ROE for year 2
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Field Company purchased a warehouse in a downtown district where land values are rapidly increasing. Adolph Phillips, controller, and Wilma Smith, financial vice-president, are trying to allocate the cost of the purchase between the land and the b..
The following information was taken from the LLCs income statement for the current year: Revenues:Fees and commissions
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