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Problem 1: ABC Co. traded a used equipment with a book value of P6,800 and a fair market value of P9,200 for a new similar equipment with a list price of P71,200. ABC Co. agreed to pay P52,000 in cash for the exchange in addition to giving up the used equipment. At what amount should the new equipment be recorded?
a. P71,200b. P61,200c. P58,800d. None of the choices
Will the company's accounts payable increase or decrease, and Determine by how much of it takes on average 6 days to pay its bills?
Using the following information, prepare a factory overhead flexible budget for Jacob Company where the total factory overhead cost is $206,500 at normal capacity (100%). Include capacity at 60%, 80%, 100%, and 120%. Total variable cost is $15.25 per..
Compute the ending inventory for Tina Argentine Company for 2009 through 2014 using the dollar-value LIFO method.
A par value of $1,000, and a current price of $1,045. The bonds make semiannual payments. What must the coupon rate be on these bonds?
It is proposed at a stockholders' meeting that the firm slow its rate of payments on accounts payable in order to make more funds available for operations. It is contended that this procedure will enable the firm to expand inventory, which will in..
If the firm declares a 10% stock dividend and a $0.06 per share cash dividend, what will be the impact on Common stock on the above equity account
Beta Company signs a $600,000, 10%, 12-month note. What is the adjusting entry required if Beta Company prepares financial statements on June 30?
Calculate the cost of goods sold for July using the weighted-average cost formula. Calculate the cost of goods sold for July using the first-in, first-out cost
Which mathematical expressions computes the annual percentage rate (APR) for short-term financing? APR = Percentage cost per period + 1
Tami Tyler opened Tami's Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances.
Prepare an amortization table through December 31, 2022 (three interest periods) for this bond issue.Prepare the journal entry to record the issuance of bonds
Finance Assignment- Practical Business Accounting. Task 1 - Produce a profit and loss account. Task 2 - Evaluate sources of finance for a range of organisations
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