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Question - On January 1, 2017, Flair Company purchased a machine for P2,640,000 and depreciated it by the straight line using an estimated useful life of 8years with no residual value.
On January 1,2020,the entity determined that the machine had a useful life of 6years form the date of acquisition with a residual value of P480,000. The entity also made a decision to change the depreciation method to sum of years digits. What is the accumulated depreciation for the machine on December 31, 2020?
Calculate and interpret relevant profitability, solvency, leverage, market value ratios for each company that will be useful in comparing target acquisition.
The Allowance for Bad Debts has a credit balance of $7,500 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging−of−receivables ?method, the? company's management e..
Prepare the required journal entries to record any adjustments for each point .It is December 2020 and Wagner Inc. recently hired a new accountant
The bank statement shows a collection by the bank of $3900 and a customer's check for $1310 was returned because it was NSF.
On November 16, 2017, Wick Corp (USA Company) sold merchandise to Candle, Make a journal on the books of Wick Corp. to record transactions on November 16, 2017
During the current month, a company that uses job order costing purchases $54,000 in raw materials for cash. It then uses $16,000 of raw materials indirectly as factory supplies and uses $28,100 of raw materials as direct materials. Prepare journal e..
The company is able to reinvest cash flows received from the project at an annual rate of 9.92 percent. What is the MIRR of a project
Prepare the journal entries to record the amortization of the intangible assets for 2016. Amortize over their legal life unless otherwise noted.
Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover.
Grandson that will pay him $1,500 on the first day of every other year. When computing the PV of this inheritance, the grandson should use
The expected useful life was 3,000 units and units produced until date of disposal was 1,700 units. What was gain or loss on the disposal at the end of year
Entered into a contract for construction of a new building, payment to be made within 30 days following completion.
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