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Question - On December 31, 2016, ABC Corporation issued five- year, non-convertible P10,000,000 face value 12% bonds for a price that yields 10%. Interest is payable every December 31. On August 1, 2018, ABC Corporation retired P4,000,000 of the bonds at 105 plus accrued interest. The accounting period of ABC Corporation is the calendar year.
What is the issue price of the bonds?
What is the interest expense for 2018?
What is the gain or loss on retirement on August 1, 2018?
On December 31, 2019 the tank held 590 gallons of liquid plastic valued at $18,000. What is cost of raw liquid plastic that should be charged
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Jim sells a parcel of land for $80,000 cash, and the buyer assumes Jim's liability of $11,700 on the land. Jim's basis is $67,500. What is the gain or loss
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1 a credit sale of 3275 to a customer would result ina a debit to the accounts receivable account in the general
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Which Financial statements presented by an entity in the current year would qualify as first PFRS financial statements under the conditions except
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