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Questions -
Q1) The payment schedule of purchases made on account is: 60% during the month of purchase, 30% in the following month, and 10% in the subsequent month. Total credit purchase were Php 200,000 in May and Php 100,000 in June. Total payments on credit purchase were Php 140,000 in June. What were the credit purchase in the month of April?
Q2) Lopez Company has a collection schedule of 60% during the month of sales, 15% the following month, and 15% subsequently. The total credit sales in the current month of September were Php 80,000.00 and total collections in September were Php 57,000. What were the credit sales in July?
a corporation is evaluating an extra dividend versus an open market share repurchase. in either case 16000 would be
Question 1 - Determination of Accounting Income and Distribution: Interest on tax-exempt bonds 7,000 and Loss on sale of capital asset (9,000)
The next week he received a $100 check from the manufacturer. How much should Ted include in gross income
Determine the amount of U.S. taxable income, U.S. foreign tax credit, and net U.S. tax liability related to the British branch (all in U.S. dollars).
Ervay Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Kitselman Appliances books to record the sale
Prepare the journal entry of Phillips Corporation to record the discounted note.
Axelrod Company has a piece of equipment that was acquired for $600,000. What is the balance in Accumulated Depreciation for this equipment at the end of 7 year
Consider the decision usefulness of accounting information produced when using each of the above figures as a measure of the value of the machine. In particular, consider usefulness from the perspective of the following stakeholders:
If CAMELLIA decides to change its depreciation method to straight- line at the start of 2021, what is the depreciation expense for the year ended December
What is the interest cost to be included in the current year's postretirement benefit expense?
ACC100 PRINCIPLES OF ACCOUNTING - Calculate relevant ratios based on the financial statements provided in the annual report in the context of the assigned
Their fair value last year was $610,000 and is $670,000 this year. What adjusting entry is required to accomplish this objective
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