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Question - Pete Enterprises owns 60% of the outstanding stock of Susie Company, which it purchased for P50,000 above the underlying book value of P720,000 on December 31, 2014. For the year 2017, Susie included in its CI P90,000 of unrealized gain on a year-end sale of depreciable assets to Pete. The NCI of Susie was assigned P12,000 of income in the 2017 consolidated financial statements. The excess allocated to equipment is amortized over 20 years. What is the CI reported by Susie for 2017?
a. P120,000
b. P150,000
c. P125,000
d: P155,000
Make the December 31 closing entries. The ledger of Mai Company includes the following accounts with normal balances as of December 31
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Mitchell Florists had the following total assets, liabilities, and equity as of December 31. What is Mitchell's debt ratio as of December 31
How will Benson's plan affect the return measure? What accounting issue is involved?
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Burke. Bros pays its employees a total of $7500, every second Monday. Prepare the journal entries to record the related cash transactions in 2022.
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There were no increases or decreases in inventories during the period. Calculate the materials quantity variance for the period
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Question - What do you mean by Business Information System? Explain what role does accounting play in Business information Systems and how
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