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Apes Corporation's checkbook balance on December 31, 2019 was P1,400,000. The same date Apes held the following items in its safe: A P50,000 check payable to Apes, deposited December 22 and included in the December 31 checkbook balance, that was returned by the bank on December 26 marked "NSF". The check was redeposited December 27,2019, and cleared December 29,2019.A P200,000 check payable to a supplier and drawn on Apes' account, that was dated and recorded December 31, but not mailed until January 15, 2020. A P100,000 check payable to Apes, dated January 2, 2020, that was not recorded in the December 31 checkbook balance.
Problem 1: In its December 31, 2019 statement of financial position, Apes should report cash at
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Stanford Semiconductors manufactures specialized chips that sell for $50 each. Stanford's manufacturing costs consist of variable cost of $6 per chip and fixed cost of $16,000,000. Calculate Stanford's operating income in 2014. Would it be unethical ..
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