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Questions -
Q1. Tipan's Company is planning to invest Php 40,000 in a 3-year project. Tipan's expected rate of return is 10%. The present value of P1 at 10% for 1 year is .909, for 2 years is .826 and for 3 years is .751. The cash flow net of income taxes will be Php 15,000 for the 1st year (PV of Php 13,635) and Php 18,000 for the 2nd year (PV of Php 14,868). Assuming the rate is exactly 10%, what would the cash flow, net of income taxes be for the 3rd year?
Q2. Malipol Books is considering the purchase of a new binding equipment that will reduce operating costs. The cost of the equipment will be Php 70,000, which will be depreciated straight line over 5 years to a zero-salvage value. Sales are expected to increase Php 65,000 per year, with an expected cash flow earnings before depreciation and taxes/sales ratio of 60%. What is the expected after-tax cash flows from the project if the tax rate is 40%?
Which measurements currently reported in balance sheets is not consistent with the physical capital maintenance concept? Give examples.
Jones, CPA, entered into a signed contract with Foster Corp. to perform accounting and review services. If Jones repudiates the contract prior to the date performance is due to begin, which of the following is false?
Prepare a schedule of cost of goods manufactured for the year. Assume all raw materials are used in production as direct materials
Assuming a 30% tax rate, what amount was deducted for depreciation on the corporation's tax return for the current year?
Instructions - What is the effect upon carrying value and earnings for each of the situations above? Assume that these situations are unrelated
Messi Company is considering an investment that will return a lump sum of $900,000, What amount should Messi Company pay for this investment
in 2011 micah johnson ssn 000-22-1111 incurs the following unreimbursed employeebusiness expensesairplane and taxi
Prepare a correct bank reconciliation. (List items that increase cash balance first. Reconcile cash balance per bank first. Round answers to 2 decimal places)
A company delivered $10,000 of goods to a customer that agreed to pay cash within 30 days. The goods had cost $8,000 to manufacture. Which of the following items would be increased by this sales transaction
On December 31, 2006, Peter Company sold equipment to Pedro Company for P112,500. Compute the amount to be shown as consolidated net income
Aldovar Company produces a variety of chemicals. One division makes reagents for laboratories. Compute the contribution margin per unit
What is the difference between managerial and financial accounting?
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