Reference no: EM133106704
Questions -
Q1) Princess Company acquired several fixtures for its new building including display cases, shelves and Hanging racks. The invoice price of the fixtures was P700,000. The entity received a 2% cash discount by paying within the discount period. Freight and insurance during shipment totaled P3,000. Costs of assembling and installing fixtures were P 5,000. While installing display case, a new employee carelessly broke a glass top. This top was replaced at a cost of P 2,000. What is the total cost of the fixtures?
Q2) On July 1, 2018, an entity paid P5,990,00 for a 10% bond with a face amount of P5,000,000. Interest is payable semi-annually on June 30 and December 31. The bond was purchased to yield 8%. The effective interest method is used. What is the carrying amount of the bond investment on December 31, 2018?
Q3) On January 1, 2018, an entity acquired an equipment with an estimated useful life of 10 years and estimated residual value of P50,000. The depreciation applicable to this equipment was P240,000 for 2020 computed under the sum of years' digit method. What was the acquisition cost of equipment?
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What is the employee federal income tax withholding
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Prepare calculations showing the amounts
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What amount should be recognized as gain on sale of bonds
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Show the hedging benefits as measured by effective price
: Mr Nicolas Darrel is the finance director of Sime Darby Plantation Berhad. Show the hedging benefits as measured by effective price
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What was the acquisition cost of equipment
: The depreciation applicable to this equipment was P240,000 for 2020 computed under the sum of years' digit method. What was the acquisition cost of equipment
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7HR011 Managing Human Resources Assignment
: 7HR011 Managing Human Resources Assignment Help and Solution, University of Wolverhampton - Assessment Writing Service
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Identify and prioritize the key financial risks
: Distinguish between different kinds of risk and the steps involved in the financial risk management process and discuss the main financial risk management tools
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Determine the amounts of other comprehensive income
: Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $34,800
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What is national current times interest earned ratio
: ABC Corporation has P850,000 of debt outstanding, and it pays an interest rate of 10 percent annually. What is National current Times Interest Earned ratio
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