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Problem - Kremlin Company reported the following shareholders' equity at year-end: Share capital, P30 par value, P3,000,000; Share premium, P600,000; Retained earnings, P4,200,000. A 20% share dividend was declared and distributed at year-end when entity's share was selling at P65. What amount should be reported as share capital outstanding?
Sky Company is unable to reconcile the bank balance at January 31. Sky's reconciliation is as follows. Journalize the entries required by the reconciliation
Which one is the correct description? Initial direct costs are incremental costs of a lease that would not have been incurred had the lease not been executed.
Net credit sales for the year totaled $200,000. What will be the balance in allowance for bad debts after the adjusting entry is recorded
Compute depreciation expense for the years 2018 through 2021, using the straight-line method with fractional years rounded to the nearest whole month
Swifty Corporation adopted the dollar- value LIFO method of inventory valuation on December 31, 2016. What is the cost of the ending inventory at December
The beginning and ending inventory is fully complete as to materials costs. How much are equivalent units for materials if the FIFO method is used
$4.5m at a $10.5m pre-$ valuation, and later sells for $20m. If you own one-third of the common stock, how much do you receive if investors have
Show computations to value the ending inventory using the FIFO cost assumption if 550 units remain on hand at October 31
Hogan claims he will have "less income and more expenses, so he will owe less in taxes." Is Hogan correct in his way of thinking
What return did you earn? What return would you suffer next year for your investment to be valued at the original $3,000
Your analysis section should include a NPV calculation-Case studies require you to apply cost accounting techniques to a business scenario
With respect to deciding upon the optimal accounts receivable levels which of the following would not impact your decision?bad debts that may arise
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