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Problem 1: In May 20x6, Caso Co. filed suit against Wayne, Inc. seeking P1,900,000 damages for patent infringement. A court verdict in November 20x9 awarded Caso P1,5000,000 in damages, but Wayne's appeal is not expected to be decided before 2x10. Caso's counsel believes it is probable that Caso will be successful against Wayne for an estimated amount in the range between P800,000 and P1,100,000, with P1,000,000 considered the most likely amount. What amount should Caso record as income from the lawsuit in the year ended December 31, 20x9?
a. 0b. 800,000 c. 1,000,000d. 1,500,000
The annual percentage rate is 5.8 percent. If the credit card requires monthly payments, what is the effective annual rate of interest on the loan?
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A commission income account in the trial balance at the end of the year showed a balance of Php12,000.1/5 of the amount is already earned
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Mate Corporation's standard wage rate is $11.90 per direct labor-hour (DLH) and according to the standards, each unit of output requires 4.5 DLHs. In May, 2,900 units were produced, the actual wage rate was $11.50 per DLH, and the actual hours were 1..
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On January 2, 2015, For the year ended December 31, 2015, what amount should Raphael recognize as depreciation expense on the leased asset?
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