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Question - The changes in account balances of ENIGMA Co. during 2020 are as follows:
Assets: P133,500 increase
Liabilities: P40,500 decrease
Ordinary share capital: P90,000 increase
Share premium: P9,000 increase. Assuming there are no changes in retained earnings except for net income and a dividend payment of P19,500.
What is the net income (net loss) for 2020?
Presented below are a number of business transactions that occurred during the current year for Gonzales, Inc. Instructions In each of the situations, discuss the appropriateness of the journal entries in terms of generally accepted accounting pri..
1. What is the objective of the operating and financial review? 2. Why is there no prescribed format for the OFR? 3. What are the main principles set by the ASB for the OFR?
The economy would operate more efficiently if frictional unemployment were eliminated. Therefore, a goal of government policy should be to reduce the frictional rate of unemployment to the lowest possible level." Briefly explain whether you agree ..
Please explain, Name two accounts that have a normal debit balance and Name two accounts that have a normal credit balance
The amount of the invoice from Lightbulb is $18,510 due net 30. Jan 17 The city of Denver will be hosting a decathlon
Assume the direct labor is paid at a rate of $25/hour and job 484 used $2,350 of direct materials. What was the total manufacturing cost of job 484
Find what Total Social Security tax. Alfred Morneau earned gross pay of $760. Each period he makes a 401(k) contribution of 3% of gross pay
Before year-end adjusting entries, Stanton Company's account balances at December 31, 2018, for accounts receivable and the related allowance for uncollectible.
after discontinuing the ordinary business operatins and closing the accounts on may 7 the ledger of the partnership
All principal will be repaid in one balloon payment at the end of year 15. What is the adjusted present value of this project
Prepare journal entries relating to the airplane in the accounting records of the entity from 1 January 2011 to 31 December 2015
Current assets other than cash increased by $25,000. Current liabilities increased by $15,244. Prepare a statement of cash flows for 2012
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