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Question - Lanao Company showed the following increase (decrease) in ledger account balances during the current year:
Cash 800,000
Accounts receivable (400,000)
Inventory 300,000
Equipment 950,000
Notes payable - bank 500,000
Accounts payable (600,000)
Share Capital 700,000
Share premium 300,000
There was no transaction affecting retained earnings other than a P1,500,000 cash dividend and a P250,000 prior period error from understatement of ending inventory.
What was the net income for the current year?
a. 2,000,000
b. 2,500,000
c. 3,250,000
d. 3,000,000
Violet Corporation issues 1,200 shares of $150 par value preferred stock at a price of $200 per share. It attaches a warrant to each share of stock that allows the holder to purchase one share of $20 par common stock at $50 per share.
Sketches Inc. purchased a machine on January 1, 2016. The cost of the machine was $24,500. Its estimated residual value was $7,500 at the end of an estimated.
Use the above grammar to derive the string given by the mathematical expression E = (p + q) X p - r X p/(q + q) Provide a parse tree for this derivation.
1. one of the principal costs for governmental entities are employee pensions and medical benefits. what are the
Firm D has net income of $66,640, sales of $2,380,000, and average total assets of $680,000. Calculate the firm's margin, turnover, and ROI.
What is the most effective way to ensure information system availability? What would be one duty of second-line help desk personnel? Which of the following describes a phase-in conversion?
The company currently has 1,000 units in stock, and is performing "on budget." Determine the amount of credit available under the borrowing agreement
The company had no debt before February 1st. After interest expense, calculate the ending cash balance for February
Fargo Auto Supply, Inc. produces and distributes auto supplies. Compute the target cost of one battery
What is Blockbuster's amortization timetable?What would be the impact on Blockbuster's 1988 earnings per share if 5 year amortization applied to this goodwill?
Prepare journal entries in good form for provided transaction. Post the journal entries into T-accounts (make sure you have a total amount for each account).
How has your coursework and prior experience prepared you to meet the expectations (personal, professional, and career) you have for this experience?
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