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Question - In 2020, Tableta Company paid P4,000,000 to purchase a land containing a total estimated 160,000 tons of extractable mineral deposits. The estimated value of the property after the mineral has been removed is P800,000. On March 30, 2021, Tableta Company purchased mining equipment costing P1,500,000. The useful life of the equipment is 10 years. Extraction activities began in 2021 and by the end of the year, 20,000 tons had been recovered and sold. What the depreciation expense pertaining to the mining equipment in 2021?
Glen Ltd bought shares worth $12,000 on 7 September 2016, Briefly outline how Glen Ltd should record each transaction. Provide relevant journal entries
Treasury Stock, Paid in Capital Excess to par Common Stock. Compute for December 31, 2019 the amount of Earnings per Share (rounded to the nearest penny)
Compute the total net liability to be reported on the December 31 balance sheet for:
Would dividends be included in taxable income? Text states that qualified dividends should be reported as both qualified and ordinary on the tax forms
according to mcgregors theory x amp y what is the most efficient motivator of work ethic when dealing with a type x and
At the time of liquidation the property has a FMV of 80K. What amount of loss can be recognized by the corporation on the distribution of property
Record this equipment's depreciation expense on December 31, 2011, assuming its estimated life was eight years on January 2, 2006
The Kool Partnership recently reported a $100,000 passive loss to Margaret, a partner, How much of the loss can Margaret deduct
Determine what type of lease this would be for the lessor and calculate the following: Lease Receivable and Sales Price
S Corp. purchased 5, $1,000, 6% bonds of Simplex Corporation when the market rate of interest was 10%. Compute the price ShriverShriver paid
Guo Company has owners' equity of $353,900 and net income of $121,002. How much did Guo pay in cash dividends
the 1 year and 2 year asset swap spreads for a company are 150 and 210 basis points respectively. the underlying bonds
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