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Question - On December 1, 2015, Jade Company entered into a commitment to purchase 100,000 barrels of aviation fuel for P55 per barrel on March 31, 2016. The entity entered into this purchase commitment to protect itself against the volatility in the aviation fuel market. By December 31, 2015, the purchase price of aviation fuel had fallen to P50 per barrel. However, by March 31, 2016, when the entity took delivery of the 100,000 barrels the price of aviation fuel had risen to P53 per barrel. What amount should be debited to purchases on March 31, 2016?
Accrued salaries of $2,180 owed to employees for December 30 and 31 are not considered in preparing the financial statements for the year ended December 31.
One of the shareholders owns 60% of the corporation. How much of the loss on the distribution is deductible by the corporation
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Zara's Outfits specializes in high- class ladies fashions and sells complete outfits for a uniform price of $75 each. Determine the bad debt expense
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