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Question - TALLNUT CORP. was granted by the local government of Bula, Camarines Sur a 5- hectare land on January 1, 2021 for the planting of narra trees. The grant has a fair value of Php 500,000. The grant requires that TALLNUT to farm only within Bula, Camarines Sur for five years and require the entity to return part of the grant if it farms for a period shorter than five years taking into consideration the portion retained based on passage of time.
On January 1, 2024, TALLNUT violated the terms and conditions of the grant and the grant becomes repayable. What are the necessary entries on 2021 until the repayment of the grant.
Amy paid the full amount of property tax of $1,600. Calculate both Paul and Amy's allowable deductions for the property tax. Assume a 365-day year.
Petersen Stores invested in $100,000 face amount of 4-year bonds issued by Erik Food Supply Company on January 1, 20X1. The bonds were purchased at 98.
Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the p..
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Based on the preceding information, what amount would William Company receive as dividends from eGate for the year
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