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Question - A PLC received a grant for £160,000 which was invested into an asset costing £400,000. The asset will last 4 years and has a residual value of nil. If the grant were to be show separately as deferred income, what entries would be accounted for in Income Statement in year 1?
a. Depreciation of £100,000
b. Depreciation of £100,000 and other income of £40,000
c. Depreciation of £60,000
d. Depreciation of £60,000 and other income of £40,000
Magpie Corporation uses the total cost concept of product pricing. Compute the markup percentage on total cost for the company's product
On January 1, 1999, LeBron James BANK made 10,000,000, 8% loan. What is the loan impairment loss on December 31, 1999
Assume a downstream sister division has contacted the manufacturer about an order for 25,000 units. What is the minimum and transfer price
Overhead cost is applied with a predetermined rate based on direct labor cost. How much total cost is transferred to finished goods during June
The company pledges to increase its dividend by 5.1% per year, If you require a return of 11% on your investment, how much will you pay for the company's share
Dallas Tools Inc. counted its inventory on December 31 and arrived at a total inventory amount of $54,500. Compute the correct amount of inventory at December
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Gail and Harvey formed the GH Partnership (a general partnership). Gail contributed $400,000 of cash and has a one-third interest in profits and loss.
Whitmore Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2015. The bonds pay interest twice a year.
As of December 31, 2019, the equipment has a remaining useful life of 5 years. Prepare the journal entry to record depreciation expense
If a buyer is not meeting their seasonal sales plan, gross margin, or turn plan, what strategies can be implemented to turn the business around?
Where there are potentially multiple performance obligations within a single contract, if products or services are interdependent and interrelated, they must be
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