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Problem 1: Alpha Corporation factored its P1,800,000 accounts receivable on a without recourse basis. Attached to the accounts receivable is an allowance for doubtful accounts of P74,000. Alpha received proceeds of P1,450,000 from the transaction. What is the loss on factoring?
Prepare the journal entry to record the sale of the printing press assuming the company used the straight-line method of depreciation
Sipacore Metal Works received an offer from a big-box retail company, What will be the real effect on profit if the order is accepted?
On March 1, 2020, Cullumber Corporation issued $300,000 of 6% non-convertible bonds at 105, which are due on February 28, 2040.
Which is correct about receivables? The direct write-off method of accounting for uncollectible receivables is primarily used by small, nonpublic companies.
However, ABC Ltd.'s share price is $74.50 at year-end. What are the necessary journal entries for Bob Company for 2017
Budget Variances, Materials and Labor Bolsa Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Compute the costs of leather and di..
ABC Inc. is looking at investing in a 3-year, The cost of this project is $18,000, and the required return is 12%. What is the payback period on this project?
Explain what is meant by the term "participative budgeting" and how the term relates to the current situation and How would you recommend the Mr. Sparks change the budgeting procedures to gain more support from department managers
What are the implications of both a capital lease and operating lease on the balance sheet and income statement? In other words, how does each lease type affect these two financial statements? Justify your reasoning.
Identify two different stock exchanges in the United States. Describe the similarities and differences between the two stock exchanges.
Find How financial management contributes to shareholder's profit maximization and which are its three variables which directly affect shareholder's wealth?
In February, one of the processing departments at Whisenhunt Corporation had beginning work in process inventory of $45,000 and ending work in process inventory of $18,000. During the month, the cost of units transferred out from the department was $..
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