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Problem 1: On July 1,2020, Alex Company exchanged its non-monetary asset with non-monetary asset. The following data were made available: Cash received on exchange:P900,000, Fair Value of Equipment: P3,000,000,. Equipment: P4,400,000 and Accumulated Depreciation for P 2,000,000. If the cashflows of the non-monetary assets were not the same, what would be the cost of the non-monetary asset received?
On October 14, a $0.60-per-share dividend was received on the Monroe Company stock. Prepare the journal entries for the original purchase
The Allowance for Uncollectible Accounts already has a $3,000 credit balance. For what amount should the account be adjusted (credited)
Why must a company use pre-determined overhead rates when using job order costing? What are some additional costs that you would need to consider if the motorcycles were for customers that were overseas?
custom metal works produces castings and other metal parts to customer specifications. the company uses a job-order
What makes a contribution income statement unique? Using the company (National Linen) discuss how a contribution income statement could be used to improve planning in that particular company.
on july 1 2008 falk company signed a contract to lease space in a building for 25 years. the lease contract calls for
rosario company which is located in buenos aires argentina manufactures a component used in farm machinery. the firms
What is the present value of the tax savings/costs that result over the life (8 years) of the asset if Jamie uses MACRS rather than ADS?
What Allen Company's break-even volume in units is? The Allen Company had the absorption costing income statement for the month of July
What production level next year will be required to meet the targets
Assuming Himmel's stock price does not change from its current price of $50 per share, how many shares must the company sell and at what price to the public?
On June 30, 2009, half the bonds were converted when Blair's common stock had a market price of $30 per share. What journal entry should Blair make record when recording the conversion?
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