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Problem 1: On April 1, 2020 JKL Company discounted with recourse a 9-month, 10% note dated January 1, 2020 with face amount of P6,000,000. The bank discount rate is 12%. The discounting transaction is accounted for as a conditional sale with recognition of contingent liability. On October 1, 2020, the maker dishonored the note receivable. The entity paid the bank the maturity value of the note plus protest fee of P50,000. On December 31, 2020, the entity collected the dishonored note receivable in full plus 12% annual interest on the total amount due. What amount should be recognized as loss on note receivable discounting?
Determine Gill's AGI for 2020. ?(Assume that the 2019 STCL of $5,000 is before Gill has taken any capital loss deduction in 2019.)
Bugga Corp expects to sell 3,000 units in October, and expects sales to increase 20% each month thereafter. Sales price is expected to stay constant at $8 per unit. What are budgeted revenues for the fourth quarter?
If employee-investors are unsophisticated and unlikely to be materially influenced by educational efforts, the best way to improve the welfare of employee-investors is pension design. Discuss.
Using the library and other course resources, find a manufacturing company's annual report.
briefly explain the probable effects of the screenwriters’ wage increase on: Equilibrium price, equilibrium quantities, and total revenues in the movie and popcorn markets.
Extract Tom Mac Onyango Trial Balance as at 30th April 2018. Open ledger accounts to record the transactions,Tom Mac Onyango operates a retail shop.
Esther Go paid for Php 2,500 worth of groceries with an East West Bank credit card. Where is the credit transaction and who are the parties to it
If the break even point is20000 unitsamd contribution margin is3 per unit , fixed cost is 60000 what is the net income if sales is 30000 units ?
Determine the basic earnings per share for Pelangi Berhad as at 30 September 2014, 2015, 2016 and 2017. Show all your workings.
At what amount should the discount on notes payable be presented on the balance sheet on December 31, 2011?
It should be written in form of report writing and according to the question in details with introduction conclusion references
Shelby Co. received $27,000 from WCU Company for work done in Nov & Dec. Prepare the entry to record the Dec 23 receipt of cash from WCU company.
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