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Question - On January 1, 2020, A Company was incorporated. Total share capital from initial investors amounted to P8,000,000. In addition, the company borrowed P2,000,000 from a local bank for operating needs.
During 2020, the company had a net income of P1,820,000 and paid a cash dividend of P600,000 to shareholders of record on December 31, 2020.
At end of 2020, the company's liabilities amounted to P2.200.000.
What amount should be reported as total assets as of December 31, 2020?
Monthly depreciation expense of $1700 was recorded using the straight-line method. Calculate the annual depreciation rate
What inventory cost method would you prefer, and why? Would your chosen costing method follow the actual flow of your inventory
Identify four specific items relating to bereavement leave that will have to be addressed in the policy to ensure compliance with the employment/labour standards in each jurisdiction.
inland oil arranged a 10000000 revolving credit agreement with a group of small banks. the firm paid an annual
The Simone Company has net income of $146,650. Total assets are $975,000 and the return on equity is 20%. What is Simone's debt-equity ratio
How much are total assets? Charlie Corporation's adjusted trial balance included item. Accounts payable $65,000, Accounts receivable $41,000
The revenues and expenses of Chickadee Travel Service for the year ended April 30, 2019, follow: Fees earned $263,200. Prepare an income statement for the year
ACCT11059 - Accounting, Learning and Online Communication Assignment - Restated Financial Statements & Ratios, CQ University, Australia
Prepare a sales budget for January, February, and March. Prepare a production budget for January, February, and March. Prepare a purchases budget for January, February, and March. Prepare a direct labor budget for January, February, and March.
Calculate the equipment's internal rate of the return. Assume that the tax rate is 30 percent
Provision for guarantee made by Cage Ltd because it did not consider the outflow probable. The tax rate is 30%. Soul Limited will record
Why is the sales budget so important to the budgeting process?
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