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Problem 1: A note payable to the Bank of the Philippine Islands for P2,400,000 is outstanding on December 31, 2017. The note is dated October 1, 2016, bears interest at 18%, and is payable in three equal annual installment of P800,000. The first interest and principal payment was made on October 1, 2017. What amount should be reported as current liability in the December 31, 2017 balance sheet?
Comfi Airways, Inc., a small two-plane passenger airline, has asked for your assistance in some basic analysis of its operations. Both planes seat 10 passengers each, and they fly commuters from Comfi’s base airport to the major city in the state, Me..
Prepare a partial statement of cash flows including only the operating activities section of the statement. Show computations for Interest paid
If PetCo had net sales of $600,000, goods available for sale of $450,000, and cost of goods sold of $375,000, what is its gross margin? What amount of inventory will be shown on its balance sheet?
Prepare Record the necessary entries in the Journal Entry. During January, a company incurs employee salaries of $1.2 million.
After the liquidation expenses of $12,000 had been paid and the noncash assets sold, Creighton had a deficit of $8,000. For what amount were the noncash assets sold?
Determine What The proper adjusting entry is? During the current accounting period, Malibar Farms Company paid $2,000 for advertising services
The probability of a boom is 75 percent while the probability of a recession is 25 percent. What is the variance of the returns on RTF, Inc., stock?
Prepare an extract from the company's income statement for the year 2019 stating comparative figures for 2018. Prepare the journal entry to effect adjustment.
Compute the claim against the insurance company. calculate a claim for insurance as a result of a theft that took place the night before
Palmdale Corporation has a regular tax liability of $94,000. It is eligible for a $54,000 general business credit for the current year and has a $30,000 general business credit carryover from the prior year. a. What is Palmdale’s allowable general bu..
Prepare journal entries for Marcey Co. for: Accounts receivable in the amount of $1,000,000 were assigned to Utley Finance Co. by Mars as security for a loan of $850,000. Utley charged a 3% commission on the accounts; the interest rate on the note is..
Identify the company that you want to research for the three written assignments in the course. why the issue hinders organizational efficiency
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