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Question: Arlene Company accounted for the noncurrent asset using the cost model. On October 30, 1010, the entity classified an equipment as held for sale. At that date, the carrying amount of the equipment was at P1,500,000, the fair value was estimated at P 1,100,000 and the cost of disposal at P150,000. On December 31, 2020, the equipment was sold for met proceeds of P800,000. What amount should be reported as impairment loss for 2020? What amount should be recognized as loss on disposal for 2020?
wasson widget company is contemplating the production and sale of a new widget. projected sales are 187500 or 75000
dog gone good engines has a bond issue outstanding with 17 years to maturity. these bonds have a 1000 face value a 9
On January 10th, the company sells 4,000 units. Using the Weighted Average method of inventory costing, what is the cost of the units in Ending Inventory
What is the budgeted total manufacturing overhead for the year? What is the budgeted total selling and administrative expenses for the quarter?
Numeric Corporation produces and markets two types of electronic calculators: Model 100 and Model 200. The following data were gathered for last month:
The company has a December 31 year-end and a corporate income tax rate of 40%. Calculate the amount of tax depreciation
What standards were violated and why? Is there a violation of the elements of audit quality control, briefly discuss
In the current month, the company incurred $305,000 actual overhead and 22,000 actual labor hours while producing 35,000 units. Compute the (1) total overhead variance, (2) overhead volume variance, and (3) overhead controllable variance.
At the end of the current year, $13,680 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees
Prepare the journal entry to record the exchange on Smith's books, assuming the transaction has commercial substance
The taxi was repaired at a cost of $8,962 and insurance reimbursed Don $3,280 of this cost. What is the amount of Don's casualty loss deduction
3 page paper detailing the different business entity types. You can use what you learn from google, the book, etc. This assignment is designed to determine.
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