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Problem 1: ABC Corporation is preparing its bank reconciliation for the month of April. The bank statement showed and ending balance of P500,000, collection of a customer note by the bank of P100,000, bank service charge of P10,000, and an erroneous bank debit of P5,000 which it immediately corrected within the month. The cash in bank balance per ledger is P400,000. You determined that the entity recorded a P50,000 check payment as P5,000. What is the correct cash in bank balance?
HI5002: Finance for Business - Analyse for the purposes of possible recommendation to your client. The group should obtain all information
How do you account for a forward hedge for a foreign currency transaction at the settlement date in ASPE? What would the journal entry look like?
Adam Wilton turned 20 years old today. His grandfather had established a trust fund that will pay him $88,000 on his next birthday. However, Adam needs money today to start his college education, and his father is willing to help. Determine the amoun..
What recommendations do you have regarding if/when/how to pay bills electronically? Smart Phones are simply small computers
Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if t..
calculate the fixed, variable and total gross margin for the new potential "Gleamz" sunglasses.- compare "Beamz" with "Gleamz".
What was the relation between unit sales and unit production levels in each year? For each year, indicate whether inventories grew or shrank.
Find amount of interest expense pertaining to the bond that the company will report on its income statement for the year ending December 31, 20X1.
How Solve the transaction price to be allocated to the performance obligations of AllFuels Limited and prepare the journal entry to record the March 2020 sales.
What is the average accounts payable for APP? Round your answer to the nearest dollar. The discount but takes the full 15 days to pay its bills.
“Earnings per share” (EPS) is the most featured, single financial statistic about modern corporations. Daily published quotations of stock prices have recently been expanded to include for many securities a “times earnings” figure that is based on EP..
Simmons Company began the month with a balance of $83,000 in Accounts Receivable. An analysis of the account determined that sales on account for the month totaled $110,000. At the end of the? month, the balance in Accounts Receivable was $88,000. Fr..
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