During 2021, Perez Co. purchased 3,000 shares of Corpuz Corp. ordinary shares for P40,300 as a short-term investment. The investment was appropriately classified as Financial Asset @ FVPL. The fair value of this investment was P32,500 at December 31, 2021. Perez sold all of the Corpuz ordinary shares for P10 per share on January 15, 2022. incurring P1,400 in brokerage commissions and taxes.

Q: P1,200,000. At that date, Harley had the following book and Book Value Market Val blon

A: Retained earnings are the amount that is left after paying all the costs, income taxes, and stockhol...

Q: ABC Corporation plans to issue an 8%, 15-year, P5,000,000 face value bonds. It will incur P300,000 a...

A: Given details: Face value, FV = P5,000,000 Coupon rate = 8%, So interest per annum is P5,000,000 x 8...

Q: 1. A loan of Php 35,000 with a simple interest rate of 12% will be paid within 9 months. interest wi...

A: As posted multiple independent questions we are answering only first question kindly repost the unan...

Q: Which of the following is NOT included in the financial assets? A. Cash. B. Investments in securitie...

A: The financial assets include the liquid assets of the business. 

Q: choose the correct answer: Equity security acquired for trading should be measured at reporting dat...

A: Equity Securities Held for Trading Equity securities which are held for trading purpose which can be...

Q: Which of the following is not a characteristic of a financial asset held for trading? a. It is acqui...

A: Trading in financial instrument include assets such as stocks bonds mutual fund. the financial asset...

Q: Date of the Note Term of the Note Maturity Date 1. February 10, 2022 2. May 19, 2021 3. July 5, 2021...

A: Solution Concept The term of the note is to be added to the note issue date to get the maturity date...

Q: Patten Company uses activity-based costing (ABC). Patten manufactures toy cars using two activities:...

A: Total budgeted Overheads = $434000 Out of this, 80% is for Injection Molding & 20%is for decal A...

Q: Question 2 Complete the Contingency Budget for the table below If risk C and F actually occurred, ...

A: Contingency Budget: A contingency budget plan, with regards to the project board, is a measure of ca...

Q: ond interest rates may differ from market interest rates because:

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value o...

Q: DIRECT COST PER SUPERVISORPER MONTH Sum of GROSS PAY Column Labels Direct Direct Total Rov Labels Ce...

A: While computing the costs involved in the production of goods, direct and indirect costs are classif...

Q: An NSF check returned by the bank should be entered in the depositor's accounting  records by a debi...

A: There are three golden rules in accounting for recording the transaction : Debit what comes in , C...

Q: irections: What would you do under the following situations below.

A: In this question, there are 3 different cases in which we have to show what would we do in these sit...

Q: Riverbed Corp. uses the direct method to prepare its statement of cash flows. Riverbed trial balance...

A: The answer is stated below:             Note: Answering the first three subparts as there are multip...

Q: Enumerate 7 violations on required disclosures in the Notes to Financial Statements.

A: Financial statement Notes These are those supporting notes which are included in the published finna...

Q: The journal entry to record the purchase of Agnes Co. would include a Group of answer choices credi...

A: Goodwill is an intangible asset of the company which have no physical existence but will increase th...

Q: Dove Company uses FIFO method of process costing. The company's cost accountant has provided you wit...

A: Solution: Dove Company Finishing Department Computation of Equivalent unit (FIFO) Particula...

Q: Consider the following statements: Statement 1. When amortizing a bond discount, the bond's amortize...

A:   please see only  bond's amortization cost (column no. 4 ) and interest expenses column (column no....

Q: What is the Economic Order Quantity? What is the maximum inventory they will have on hand at any poi...

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three sub...

Q: If FIFO Method is used, the costs of goods manufactured amounted to:

A: Equivalent units means where the some goods remain incomplete at the end of process and we need to c...

Q: Novak Corporation is preparing its 2020 statement of cash flows, using the indirect method. Presente...

A: In Operating Activities : Increase in Current assets is Deducted from net income in the operating se...

Q: n January 1, 2020, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issu...

A: Solution Working note Coupon amount               =600000*7% / 2                                    ...

Q: Following dată iš availäble rom the Company. Estimated Factory Overhead Estimated Direct Labor Hours...

A: Solution Note dear student as per the Q&A guideline we are required to answer the first three su...

Q: 14. Paul Williams Company presented the following information pertaining to its investments in marke...

A: As specified in question the solution of 14 and 15 is given below.   Unrealized gain or loss in the ...

Q: Transactions 1. On March 1, 20– when he began his business, he invested in the business a bank balan...

A: A T-Account is a log or list of accounts that keep track of account transfers.  

Q: ilers Company has two producing departments and two support departments. The following budgeted data...

A: The question is based on the concept of Cost Accounting.

Q: The following information is given for Gator Company, who uses the FIFO method. Item Quantity Cost ...

A: Inventory should be value at cost or market which ever is lower. First find out purchase cost of inv...

Q: Account Amount Lacson invested P100,000 cash in the business a Account debited Cash 100,000 b. Accou...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: B D E H K 1 Suppose we observe the following rates: M 2 3 1R1 4 E(2r1) 5 E(3r1) 6 E(4r1) 7 E(5r1) 8 ...

A: A lender charges a borrower an interest rate that is a percentage of the principal (the amount borro...

Q: The partnership of Miner Company began operations on January 1, with contributions as follows: Wav...

A: Introduction:- The percentage stake that a partner holds in partnership assets is referred to as par...

Q: Delta Corporation acquires 70 percent of Bravo Company’s stock.  What amount of non-controlling inte...

A: Introduction Non-Controlling interest: If the parent company does not own 100% stakes in subsidiary ...

Q: Bramble Inc., had the following condensed balance sheet at the end of operations for 2019. BRAMBLE ...

A: Cash flow statement includes: Cash flows from operating activities Cash flows from investing activi...

Q: Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your...

A: Lets understand the basics. Present value is a value in present of the future amount. For calculatin...

Q: The interest rate is 20%, which type of hut should you buy? Intuitively, why were the answers for pa...

A:

Q: Söle Proprietors For partnership, and any deficiency shall be paid in cash. Gabriel and Lucifer deci...

A: When two or more persons join together to run any business activity, such joining is known as partne...

Q: At the beginning of 2009, a company purchased a fire insurance policy covering a property for a peri...

A: The prepaid expenses are the expenses paid but not due for payment. 

Q: Tolentino Statement of Financial Position April 8, 2018 Assets P 4,000 Cash Accounts Receivable P160...

A:

Q: Abednego Company purchased equity investments held for trading on January 1, 2020. Market – (12/31/2...

A: In case of equity investments held for trading , they should be reported at market value as at year ...

Q: 2. The Company place a fixed deposit of $1,000,000 with the bank on 28.12.10 for a period of 7 days ...

A: Journal entries are the basic method for recording financial transactions in the books of accounts. ...

Q: Why is issuing a short-term note receivable an investing activity if it's short term and not long te...

A: Solution Concept Short term note receivable are the notes that have maturity period of less than 12 ...

Q: Total costs transferred to Department 2 is ______

A: Nico Manufacturing company uses process costing for its product "brilliant" Process costing is used ...

Q: assume you are employed as the chief financial officer of a corporation and are responsible for prep...

A: Introduction:- Financial statements are official records of a company's, person's, or other entity's...

Q: Examples of violation to notes on financial statements

A: Financial statements that describe a company's operations and financial performance. Financial state...

Q: 2.A partially completed summary of financial data is given below. The data pertain to the fundamenta...

A: Assets = Liabilities + Equity  or , Liabilities = Assets - Equity Equity at the end = Equity in the ...

Q: Required: Compute the sales manager's bonus and the income tax expense for the Walbrook Company. Rou...

A: Solution:- Given, Income before bonus an tax = $400,000 Tax rate = 40%  Bonus rate = 10%

Q: ABC, wholesaler, incurred the following costs: Purchase abroad ($ 1= P 50) $ 10,000 P 50,000 Import ...

A: Cost of Inventory Purchased: As a result, the processes required to determine the quantity of invent...

Q: Accrued, but unrecorded and unpaid Salaries amounted to $14,000. Account name:  Cash    Accounts re...

A: Accrued expense means expense have been incurred but not yet paid and are liability for the company....

Q: Determine the value of n and t in each problem below. In the coming three years, you will need Php ...

A: solution Given for first question Future value needed 200000 Present value ? Interes...

Q: French Confection, Inc., allocates overhead using direct labor hours as the allocation activity. The...

A: Predetermined overhead rate = Estimated manufacturing overhead/Estimated direct labor hours Overhead...

Q: Enumerate at least 5 violations on required disclosures in the Notes to Financial Statements.

A: The answer for the question on violation on required disclosures in the Notes to financial statement...