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Question - PP Corp. owned 80% of KK Corp.'s common stock. During October 20x9, KK sold merchandise to PP for P140,000. At December 31, 20x9, 50% of this merchandise remained in Prince's inventory. For 20x9, gross profit percentages were 30% of sales for PP and 40% of sales for KK. What the amount of unrealized intercompany profit in ending inventory at December 31, 20x9 that should be eliminated in the consolidation process?
Perpetual preferred stock from Franklin Inc. sells for $123.8 per share, and it pays an $7 annual dividend. What is the company cost of preferred stock
Parcell Company contracted on 4/1/07 to construct a building for $2,500,000. Present the balance sheet disclosures at December 31, 2008
The entity declared cash dividend of P1,000,000 on preference shares and P2,000,000 on ordinary shares during 2016. What amount reported as retained earnings
Journalize the entries to record the following selected transactions. Be sure to include the year in the date for the entries recording the issue.
Prepare journal entries to record the stock transactions in 2010, assuming Roman uses the cost method to account for treasury stock
Question - Measuring and recording pension expense. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan
When incorporated Y Ltd. issued 1,000 common shares to A for $1,000. What is the total paid-up capital (PUC) of the common shares owned by A
Food and drinks cost $900. What amount can Sunburn deduct as meal and entertainment expense
Ennier Corp. leases its production equipment from Trusting Finance Corporation. Both companies use ASPE. the lease has the following terms.
Additionally, on January 01, 2012, HIVE paid P500,000 to CJM CORP as a lease bonus and P250,000. Determine the amount of rental revenue
The ending balance that Blue Co. should report as its investment in John Corp. at the end of 2018. What is Investment in Elton John Corp.
When long-term investments in bonds are sold before their maturity date, the seller deducts any accrued interest since the last interest payment date from the selling price.
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