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Question - On January 1, 2022, Champion Company leased a building to Banner Company for 3 years. The annual rental is P450.000. Additionally, Banner Company paid P252.500 as a lease bonus and P125.000 as a security deposit to be refunded upon expiration of the lease.
1. What amount should be reported as lease income for 2022?
2. Assume the same information except that the lease commences on April 1, 2022. What amount should be reported as lease income for 2022?
There were no other transactions which affected the companies' land accounts during 2006. What is the consolidated balance for land on the 2006 balance sheet?
The market interest rate is 5%. Therefore, the bonds are sold at the face value. Interest is paid semi annually. What is the interest expense
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the General Agreement on Tariff and Trade was established and reduced international trade tariffs. What was the reason for the fixed exchange rates
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suppose the manufacturer of running shoes has collected the following quantitative information. demand for the boys
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