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Questions -
Q1. KNICKS Company sells portable DVD players for P12,000 each and offers to each customer a 3-year service contract for an additional P4,800. During 2021, the company sold 800 DVD players and 500 service contracts for cash. Expenses related to the service contracts for 2021 amounted to P350,000.
Past records of the company indicate that the pattern of repairs has been 50% in the year after the sale, 30% in the second year, and 20% in the third year. Sales of the contracts were made evenly during the year.
What the liability balance to be reported in the 2021 statement of financial position?
Q2. HEAT Company sells subscriptions to a semi-annual magazine that is delivered to customers at the end of June 30 and December 31. Subscriptions are P450 for one year and are received as follows for the months of October 2,000; November 3,000; and December 4,500.
Required: a. Compute the break-even point in units for the drone.
Why AOL chose a different approach followed by a discussion of the possible reasons why the company decided to change its method.
Explain the evidence you would need to obtain to prove that each of the above journal entries represents 'false accounting' under Section 83 of the Crimes Act
Use this information to determine how much Alpha Corporation should report for 2017 basic earnings (loss) per share for income (loss) from continuing operations
Peter, frustrated with Jack's reluctance, Advise Jack if Betty has an indefeasible title to the property and indicate how the court might resolve the dispute.
During 2014, Kagan issued 40,000 shares at $24 per share, What is the total amount of stockholders equity at December 31, 2014
Will Giovanni have enough cash to get through the year? What is his budgeted cash balance on December 31, 2010
Copy Center pays an average wage of s12 per hour to employees for printing and copying jobs, and allocates s18 of overhead for each employee hour are assoned.
Beltway Company is preparing their sales and selling expense budgets for the next quarter
On January 1, 2006, Jamona Corp. purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable De..
data for assembly department for april 2012 are work in process beginning inventory--------400 units direct materials
The class video involving Walter Pavlo, what was the scheme that was used to defraud the organization? Collection accounts were deleted
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