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Question - ABC Corporation insures the life of its Chief Executive Officer for P3,000,000, indicating the corporation as the beneficiary of an ordinary life policy. The annual premium of P100,000 is payable every January 2nd of the year. The policy is dated January 2, 2021, and carries the following cash surrender values:
2021 -
2022 -
2023 60, 000
2024 70, 000
2025 89, 200
2026 110,800
The corporation follows the calendar year as its fiscal period. President dies on September 30, 2026, and policy is collected on December 2, 2026. What is the gain on life insurance policy?
A business supplies the following information in regards to its inventory - Calculate the amount that would be recorded for closing inventory
The fixed costs within relevant range of production are $180,000. What is the total sales value necessary to obtain the required profit of $300,000?
The firm projects an ROE of 25% and it will maintain a plowback ratio of 20%. If the D1 is $3 and required rate of return is 12%, calculate the value of stock.
Prepare schedules showing the amount and percentage changes from 2013 to 2014 for the comparative income statements and the balance sheets.
On January 1, 2014, Robin Wright Inc. purchased land that had an assessed value of $341,000 at the time of purchase. A $674,000, zero-interest-bearing note due January 1, 2017, was given in exchange. Determine at what amount the land should be record..
We calculate their value as a percentage of the total appraisal to allocate each asset's acquisition cost correctly vs the value of the stock issued.
The objective of this assignment is to learn to effectively research a technical aspect of accounting and communicate professional advice to a client, via a business letter
If able to use these methods to save about $56 per month, and assuming an interest rate of 3% what if the future value of this amount over 12 years is
If market interest rates had decreased 100 basis points by the end of year 1, would the market value of equity be higher or lower
Oregon Equipment Company wants to develop a new log-splitting machine for rural homeowners. Market research has determined that the company could sell 5,000 log-splitting machines per year at a retail price of $700 each. An independent catalog compan..
Assume White partnership liquidates by selling its other assets for P5,000,000. Prepare the entries to liquidate the partnership on January 1, 20CY.
Consulting Services, Inc., opened for business on January 25, 2018. The company maintains the following ledger accounts: Cash - Capital Stock
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