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On December 15, 2011 Risby Sales Co. sold a track of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payable on Dec.15,2012 and December 15, 2013. Ignore interest charges. Rigsby has a Dec 31 year end.a a realized gross profit of $100,000b. a deferred gross profit of $100,000c. an installment receivables (net) of 3,200,000d. an installment receivables (net) of $4,000,000
Q. What is Bequest? Bequest - A gift by will of personal property. If bequest is money to the extent it's paid out ofincome from property it is taxable to the recipient. Normal
Suppose the interest rate for a one-period bond is 4%. (a) What is the price of an asset paying (1,1,1) which means 1 after 1 period, 1 after 2 periods, and 1 after 3 periods.
fimnancial accounting system
No. Account Title Debit Credit 101 Cash . . . . .
Quasi-Reorganization - Type of reorganization in that, with shareholder approval, management revalue ASSETS and eliminates DEFICIT (increased by asset devaluations if any) by charg
Ask question #MiniFollowing is the shareholder''s equity of Valdez Corporation on Jan. 1, 2018:Ordinary Shares, P100 par P6,000,000 Share Premium 500,000 Retained Earnings 1,800,
Book :Accounting Research :Tools and Strategies • Facts: • Sony is a Japanese multinational company that decided to expand its entertainment business in the United States. Sony
Corporation Tax This is the tax payable by companies on their trading activities of a given financial period. The standard doesn’t give the guidelines on how this tax should be
1) Inventory of raw material are held to make sure that the production process is not disrupted because of shortage of raw material. The amount of raw material inventory would base
Suppose a risk neutral agent has $100,000 today that he wants to save for one year. Compare the following two savings plans. Bank A offers a standard savings account with 4% p.a
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