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The home office of Kurbida Co. ships goods to Davao branch billing the branch for the goods at P45,000, excluding freight of P6,000. Upon receipt of the goods, Davao branch was instructed by the home office to transfer these goods to Cebu branch. Davao branch ships the goods and paid P4,500 for the transfer. If the goods had been shipped by the home office directly to Cebu branch, the freight would have been P6,500. Requirement:
problem a. What is the journal entry to record receipt of shipment in the books of Cebu branch?
problem b. What is the adjusting journal entry to be recorded by Davao branch?
problem c. What is the adjusting journal entry to be recorded by home office?
Shelly offers to sell Jane goods both parties know are stolen. Jane accepts the offer, and agrees to pay for the goods. Later, Jane refuses to accept or pay for the goods. If Shelly sues Jane for breach of contract, what is the probable result?
Estimate total fixed costs per month, and the variable cost per surgery. State your results in the cost equation form Y = f + vX by filling in the dollar amount
Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31
ValuePlus is a United States Company.
Consider a health care organization that is unable to meet all of its relevant regulatory requirements. Answer the following questions about this organization:
10-year note for $157,000. The company paid an installment of $2100 for the first month. What portion of the first monthly payment is interest expense?
Dividends from stock investments 3,000. Based on the preceding information, compute the net cash provided by operating activities
The problem relates to Basic Accounting and it discuss about calculation of planned production, actual production, actual fixed overhead, total standard allowed direct labor hours, actual direct labor rate, direct material price variance, etc and ..
A company has prepaid rent with a carrying value of $400 000. Assuming that the tax rate is 30 per cent, what is the amount of the temporary difference
The company has a very effective lean production system, so there is no beginning or ending work in process or finished-goods inventories.
the following facts relate to alschuler corporation. 1.deferred tax liability january 1 2010 40000. 2.deferred tax
Prepare the entry to record the issuance of the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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