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Question - Carolyne has an overdue Notes Payable to Coronel with face amount of P10,000,000 and accrued interest on Dec 31, 2014 of P1,000,000 based on 10% interest rate. Because of financial difficulty, Carolyne offered Coronel to settle the obligation by issuing 150,000 shares of its ordinary share capital. The par value of each share is P50 and the market value on this date is P65. Coronel accepted the offer. What amount should Carolyne include in profit or loss for the year 2014 as a result of the settlement of the obligation?
on july 23 of the current yearserena mining co. pays 4612500 for land estimated to contain 5125000 tons of recoverable
the balance sheet for bearing industries inc. at the end of the current fiscal year indicated the following bonds
Tenney Company, a large janitorial service company, currently pays its employees at the end of each month. What is the total amount that Tenney Company can save
Assume that Bringer of Rain Inc. treats all fringe benefits as part of manufacturing overhead. Compute Donaldson's total wages and fringe benefits
You are the accountant for a mid-sized manufacturing company. For your boss, write a brief summary of the AICPA's current 10 technologies
popper co. acquired 80 of the common stock of cocker co. on january 1 2009 when cocker had the following stockholders
Match items on the right with those on the left by placing the letter of the best match in the space provided Temporarily restricted net asset
What is meant by the dual-track approach of accounting for the government-wide level besides the fund level, and how does it compare to a worksheet approach?
Determine two (2) types of hedges regarding foreign exchange risk, in general, and recommend the most advantageous risk mitigation strategy for XYZ, Inc.
discuss ways to ease the transition into management for the majority of new managers including at least one innovative
He has asked you, his tax adviser, whether he should donate the $100,000 in 2019 or 2020. Identify the tax issues related to William's decision
What The balance sheet of a manufacturing-sector companies would report? direct materials inventory and finished goods inventory accounts only
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