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Question - On January 1, 2021, EXERT EFFORT Company purchased serial bonds with face value of P3,000,000 and stated 12% interest payable annually every December 31. The bonds are to be held as financial asset at amortized cost with a 10% effective yield. The bonds mature at an annual installment of P1,000,000 every December 31. The rounded present value of 1 at 10% are: For one period = 0.91; For two periods = 0.83; For three periods = 0.75. What is the present value of the serial bonds on January 1, 2021?
Ron reported net income of $50,000 and passed dividend during 2014. Prepare the necessary entries needed for Pop AG to account for the transactions
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A working paper entry to eliminate unrealized profits from consolidated inventory would include a credit to Inventory in the amount of
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