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Question - At December 31, 2021, Gutom Nako Corp. had 20,000 shares of P1 par value treasury shares that had been acquired in 2021 at P12 per share. In May 2022, The company issued 15,000 of these treasury shares at P10 per share. At December 31, 2022, what amount should Gutom Nako show in notes to financial statements as a restriction of retained earnings as a result of its treasury shares transactions?
Based on the statement you have prepared, do you agree with the decision to eliminate the cocoa powder? Explain your answer.
The first three jobs that southern Rim worked on had actual direct labor cost. How much overhead was assigned to each of the three jobs, 301, 302, and 30?
What amount of depreciation expense should be reported in Worthington's income statement for the year ended December 31, 2011?
Assume you own a restaurant. What inventory costing method would you prefer, and why? Also, include a discussion as to whether the costing method.
Question - What is the interest on a note receivable whose principal amount is $20,000 with an interest rate of 8% that will be paid in 90 days
Maria Gonzalez is the owner of a successful printing shop. Recently her business has been increasing, and Maria has been thinking about changing the organization of her business from a proprietorship to a corporation.
Beginning raw materials inventory - $53,200, Direct labor - 149,800. Calculate the cost of goods manufactured for this company
Two years ago your corporate treasurer purchased for the firm a 20-year bond at its par value of $1,000. The coupon rate on this security is 8 percent. Interest payments are made to bondholders once a year.
The bonds will mature in four years. Using the PV function in Excel, compute the price Haygood paid (the present value) on the bond investment
Tom's research-credit base amount for the year is $32,800. Determine Tom's incremental research activities credit for the year
Assuming that Sales Returns and Sales Discounts are reported as contra-revenues, compute Net Sales for the two months ended December 31.
You have been asked to audit the financial statements of Richardson Company for two consecutive years. What effect will the errors have on net income
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