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Problem 1: Spain Company used a perpetual inventory system. At the end of 2019, the balance in the inventory account was P360,000 and P30,000 of those goods included in ending inventory were purchased FOB shipping point and did not arrive until 2020. Purchases in 2020 were P3,000,000. The perpetual inventory records showed an ending inventory of P420,000 for 2020. A physical count of the goods on hand at the end of 2020 showed an inventory of P380,000. Inventory shortages are included in cost of goods sold. What amount should be reported for cost of goods sold in 2020?
Compute avoidable interest for Pronghorn Company. Use the weighted-average interest rate for interest capitalization purposes.
If a company's accounts receivable turnover is 4.6 times per year, its collection activity would be acceptable if its terms of sales are?
What method could this discussion take place and how could this assist in meeting the budgetary requirements? With whom might a draft Master budget
Prepare the asset section of a classified balance sheet for Hasbro, Inc., assuming Hasbro follows ASPE. December 31, 2017, by Hasbro, Inc., leading manufacturer
How much of the $30,000 should each of these investors receive if they are to share in the $30,000 profit in proportion to their investment?
Discuss the difference between deferred consideration and contingent consideration. Pelhams Ltd and Selbourne Ltd as at 30 June 2019.
Discuss the impact that other factors might have. For example, would increasing the quantity of inventory increase costs? Would a salary cut affect employee morale? Would decreased morale affect sales?
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What is the cross rate between the Japanese yen and the Canadian dollar? That is, solve for ¥ per C$ - What is the cross-rate of Swiss francs to euros
Indicate if reasonable explanations exist for the areas of concern. Identify the "next step" actions that you would take as part of the investigation.
It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $12,000 cash cushion. Prepare a cash budget.
If a firm is subject to capital rationing, it has only a fixed number of dollars available for capital expenditures, and numerous project compete for the dollor
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