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Problem 1: Mr. Wonder purchased a machine amounting to P7,000,000 on January 1, 2013 providing the newest kind of technology to improve their operations. It has a useful life of 20 years and a salvage value of P500,000. However, on June 30, 2018, they decided to dispose it to liquidate some of its debts. Therefore, they classified it as held for sale. The fair value of the machine on that date P5,100,000 and the cost of disposal is P100,000. On November 30, 2019, the company decided again to continue to use it since they were able to obtain funding from their investors through follow-on offering of additional shares to pay their currently maturing obligations. On this date, the fair value of the machine is P4,900,000 and the cost of disposal is P50,000. What is the gain or loss in the reclassification in 2019?
rf company had january 1 inventory of 150000 when it adopted dollar-value lifo. during the year purchases were 900000
Prepare the stockholders' equity section of the balance sheet at December 31, 2014.
The company's annual fixed costs are $1,125,000. (1) Use this info to compute the company's (a) contribution margin, (b)contribution margin ratio, (c)break-even point in units, and (d) break even point in dollars of sales. (2) Draw a CVP chart for..
Prepare a pro forma balance sheet for the upcoming fiscal year. Company X's current balance sheet, submitted at the end of their fiscal year, September 30, 2015, is displayed below.
Based on the results of the testing of controls outlined above, determine whether John has arrived at the appropriate conclusion
How Gamu should report on its income statement a gain on disposal of? On January 2, 2012, Gamu Company purchased as a long term investment
hobbs co. has the following defined benefit pension plan balances on january 1 2012.projected benefit
1.harveys variable costs are 30 of sales. the company is contemplating an advertising campaign that will cost 33000.
Strawberry Fields purchased a tractor at a cost of $37,000 and sold it two years later for $24,500. What was the gain or loss on the sale
Zeus, Inc. produces a product that has a variable cost of $9 per unit. What is the volume of sales in units required to achieve the target profit
Compute each company's price-earnings (P / E) ratio and price-to-sales ratio (PSR). Identify primary estimates or assumptions that could result in overstated earnings, and use the ratio data to compare the quality of each company's earnings.
Hawkins Corporation has the following balances at December 31, 2012. How should these balances be reported on Hawkins's balance sheet at December 31, 2012
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