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Question - On January 1, 2020, UTANG Company received a consolidated grant of P15,000,000. 75% of the grant will be utilized to purchase a building depreciated over 10yrs. and the balance of the grant is for subsidizing the tuition costs of students for 5yrs. In the current year paid the tuition cost amounted to P500,000.
Required - What amount should be recognized as income for the current year?
HI6026 Audit, Assurance and Compliance Assignment - Case Study on Double Ink Printers Ltd (DIPL). identify and explain two key fraud risk factors
net income during 2012 totaled 30000 and the board of directors wishes to distribute a total of 15000 in cash
In its first month of operations, Hiffin cComopany made thhree purchases of merchndise in the following sequence. 300 untits at $6 400 iunits at $8 500 units at $9 assumjing are 200 units on hand at the end of the period,Compute the costof end..
Aardvark Company sells merchandise only on credit. For the year ended December 31, 2018. Determine the balance of Accounts Receivable at December 31, 2018
Nimoy Inc., purchased their only fixed asset, a widget machine, four years ago for $6 million. Determine the current market value of Nimoy equity
Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000,
On January I, 2019 Cactus Co. Prepare the journal entries for the issuance of the bonds, and the interest expense related to the first interest payment.
how can a person tell whether an entry to an expense account is payment for a legitimate expenditure or a means of
Lane Cove Classic Automobiles Ltd sells cars. Materiality for the client is $800,000. How should you deal with this issue in the audit report
interfund premiums actuarial estimates from previous fiscal year to determine necessary to establish a reserve for
Paper Clip Company sells office supplies. Utilities for the store $10,300 and Sales commissions $10,000. What is cost of goods sold
you invest an amount a into an account at time0. the account is governed by a constant force of interest equal to
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