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Question - At the beginning of 2020, Clay Company issued 5,000, 6% convertible bonds. The bonds have a three-year term and are issued at 110 with a face amount of P1,000 per bond. Interest is payable annually every December 31. Each bond is convertible at any-time up to maturity into 100 ordinary shares with par value of P5. When the bonds are issued, the prevailing market rate of interest for similar instrument without the conversion option is 9%. Round off present value factors to two decimal places
Required - What amount should be credited to share premium assuming all the bonds were converted into ordinary shares on June 30, 2021?
During 2013, her share of the partnership loss is $70,000. In 2013, her share of the partnership loss is $50,000. How much can Emily deduct in 2013 and 2014
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The trial balance of Bellemy Fashion Center contained the following accounts at November
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Jonathan Milley, the accountant for Bling Sound, Inc. has just completed a review of the General Ledger and is about to begin the adjusting process. His boss, Cantsing has asked to speak to him concerning an outstanding accounts receivable from GG..
the corporation currently uses a manufacturing facility costing 500000 per year 75 of the facilitys capacity is
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