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Question 1: AAA Company purchased a varnishing machine for P6, 000,000 on January 2020. The entity received a government grant of P540, 000 in respect of this asset. The accounting policy is to depreciate the asset over 4 years on a straight line basis and to treat the grant as deferred income. What should be reported as carrying amount of the machine and deferred income, respectively, on December 31, 2021.
Quantco, a domestic corporation, is an engineering consulting firm that has its main offices in San Diego, California. Because Quantco does a considerable amount of business in China, it has a branch office in Beijing. Compute Quantco's creditable fo..
Calculate the size of each monthly payment and then prepare a loan amortization schedule to show that as time passes the amount paid in interest
Ralston Inc. has provided the following information. Use it to answer #1-8. Give all variances as a positive number. Round ONLY your final answer to dollars. Also, Calculate the direct material price variance Calculate the direct material quantity va..
What effect would a $10.66 million operating expense have on this? year's earnings? What effect would it have on next? year's earnings??
During 2014, King Merchandising Company purchased $26,000 of inventory on account. King sold inventory on account that cost $19,500 for $29,300. Cash payments on accounts payable were $16,300. What is the balance of accounts receivable at the end of ..
Indicate the weaknesses in internal accounting control in the clubs fund-raising plan - improvements in internal control procedures for the club's fund-raising
What will price and output be if there is no dominant firm? Now assume that there is a dominant firm, whose marginal cost is constant at $6.Derive the residual demand curve that it faces and calculate its profit-maximizing output and price.
Using major periodicals such as The Wall Street Journal, Financial Times, The Economist, or Bloomberg Business week, find a current example of operating/economic exposure. Identify the risk of your example economic exposure. Discuss the strategy the ..
How will the warranty liability be reported on the company's year-end balance sheet? Be sure to indicate the account, account balance
A silver mine can yield 14,000 ounces of silver at a variable cost of $32 per ounce. The fixed costs of operating the mine are $56,000 per year. In half the years, silver can be sold for $48 per ounce; What is the average cash flow you will receive f..
Bendetta, a high-tax-rate taxpayer, owns several rental properties and would like to shift some income to her daughter, Jenine. Bendetta instructs her tenants to send their rent checks to Jenine so Jenine can report the rental income.
Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Assume that Alleg's primary competitor has an asset turnover of 2.12. What does this tell you about Alleg's asset management?
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