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Question - On December 31, 2016, LEONARD COMPANY acquired a piece of equipment from KOTARO Company by issuing a P1,00,000 note, payable in full on December 31, 2020. Leonard's credit rating permits it to borrow funds from its several lines of credit at 10%. The equipment is expected to have a 5-year life and a P150,000 salvage value. The present value of 1 at 10% for 4 periods is 0.68301. What is the equipment's book value on December 31, 2018?
a. P551,767
b. P469,806
c. P491,767
d. P630,000
Prepare Supply Club's journal entry to record July and August sales. During August, customers redeem 114,000 loyalty points on merchandise.
Dooley Company sent a deposit of? $5,000 to the bank. The bank credited Dooley? Company's checking account for a deposit of? $500.
Compare each organization's use of information systems to help manage internal operations and to make decisions. Assess how these two organizations use information technology for competitive advantage.
Find Which a FIFO perpetual inventory system? assigns the most recent costs to cost of goods sold when goods are sold./ assigns the most recent costs to ending
What the characteristic of the partnership form of business that can possibly hinder long term planning for the business is the? Voluntary association
Based on prior approval, Roche determines that it is 85% likely that the drug will gain approval. The transaction price of the arrangement should be
A building acquired at the beginning of the year at a cost of $117,200 has an estimated residual value of $9,400. Determine the double-declining-balance rate
What conditions are necessary before price discrimination is both possible and profitable? Why does price discrimination result in higher profits?
At the end of 2020, Boot Corporation recorded estimated future returns in the amount of $41,000. Prepare the entry to record returns of merchandise sold
Oct 29: Purchased land and a building for a single price of $420,000. Journalize each of the transactions from Jan 2nd - Dec 31st
Jill Jacobs and Mike Stutz have decided to create a business. They have financing available and have a well-developed business plan.
Jack Thompson's lifelong dream is to own his own fishing boat to use in his retirement.
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