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Questions -
Q1. QTS Corp. collected P24,700 in interest during 2021. QTS showed P3,700 in interest receivable on its December 31, 2021 statement of financial position and P10,600 on December 31, 2020. How much is the Interest Revenue reported on QTS Company's statement of comprehensive income for 2021?
Q2. MAR Co. purchased machinery on account on July 1, 2019. Details of the machinery are as follows:
Cost of asset - P10,000
Salvage value - P2,000
Useful life - 8 years
The company uses the straight-line method in depreciating its assets.
What is the amount of accumulated depreciation on December 31, 2021?
Q3. ORI Co. reported profit after tax of ?420,000. ORI's income tax rate is 30%. Operating expenses for the year were 15% of sales and 25% of cost of sales. Other expenses were 10% of sales. How much is the sales?
Lease agreement Question - Calculate the carrying value of the non-current portion of the lease liability at 31 December 20x2.
Discuss two actions Murphy might take to improve cash flow from operations
On January 1, 2010, the Ramirez Company ledger shows Equipment $34,700, Compute the revised annual depreciation
This assessment task is designed to assess your understanding of topics 3 to 7, and your progress towards being able to: prepare basic financial statements
Provide a prediction as to whether the news about the record profits of Exxon would have created a change in the company's share price.
The recorded amounts all approximate current values except for land (fair value of $64,300), Prepare the July entry for Grouper Corporation
Assume Hudson Co. has a target pretax income of $165.000 for 2018. What amount of sales (in dollars) is needed to produce this target income
Assuming that their marginal tax rate is 30%, what is the amount of investment expense deduction for the year
Akron, Inc., owns all outstanding stock of Toledo Corporation. Amortization expense of $15,000 per year for patented technology resulted from the original acquisition. Prepare a consolidated income statement for the year ending December 31, 2015
world airlines has three service departments 1 ticketing 2 baggage handling and 3 engine maintenance. the service
How much was the total dividend income received by the shareholder as a result of the distribution made by Smith Corpo
Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin (expressed as a percent to one decimal place), and determine whether the net profit margin is ..
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