Problem 1 It is now 2024 You have been assigned as a financial advisor of a Philippine start-up company They assigned you to value its existing business had they exited the market 6 years ago, meaning in 2018. Details of the company are as follows: Funther assume that the company will nat exist beyond 2023, meaning the going concem principle will not apply.

Problem 2: Janmark Company provided the following selected transactions related to contingencies. The reporting period ends on December 31, 2020, and is issued on March 31, 2021. The entity is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December 31, 2020, lawyers advised that it was not probable that the entity would lose Php 2,000,000.00 in an unfavorable outcome. On February 15, 2021, judgment was rendered against the entity in the amount of Php 4,000,000.00 plus interest of Php 200,000.000. The entity does not plan to appeal the verdict. Since August 2020, the entity has been involved in a labor dispute. Negotiation between the entity and the union has not produced a settlement. Since January 2020, strikes have been ongoing at these facilities. It is virtually certain that material cost will be incurred, but the resultant cost cannot be adequately measured. • The entity is the defendant in a lawsuit filed in January 2021 in which the…

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Problem 2-25 (IFRS) William Company operates a customer loyalty program. The entity grants loyalty points for goods purchased. The loyalty points can be used by the customers in exchange for goods of the entity. The points have no expiry date. During 2022, the entity issued 100,000 award credits and expects that 80% of these award credits shall be redeemed. The total stand-alone selling price of the award credits granted is reliably measured at P2,000,000. In 2022, the entity sold goods to customers for a total consideration of P8,000,000 based on stand-alone selling price. The award credits redeemed and the total award credits expected to be redeemed each year are as follows: 2022 2023 a. b. Redeemed 30,000 15,000 1. What amount should be reported as revenue from points for 2022? C. d. 1,600,000 1,500,000 600,000 480,000 Expected to be redeemed 80% 90% 2. What amount should be reported as revenue from points for 2023? a. 240,000 b. 200,000 120,000 0 C. d. 65

In October 2019 Sheldon Anthony was considering setting up a business in either Trinidad & Tobago or Jamaica.   Income Statement Projection for 2020 is as follows:                                                                         USD Income   Sales  100,000 Interest Income 1,500 Dividend Income                                                 5,500     Expenses   Depreciation  20,000 Interest Expenses (1)    7,000 Repairs & Maintenance    1,500 Legal & professional fees (2)   8,000 Salaries    30,000 Bad debts (3)       3,000 Other Expenses (4)     20,000     Notes All Interest was paid and as such there was no accrued interest at year end Professional fees consist of: Audit and accountancy fees                                                               $3,600 Legal fees for collection of bad debts                                                  $2,000 Cost of setting up business in the…

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Sh 1 Please help me.  Thankyou.

Problem 2-20 (IFRS) William Company operates a customer loyalty program.The entity grants loyalty points for goods purchased. The loyalty points can be used by the customers in exchange for goods of the entity. The points have no expiry date. During 2020,the entity issued 100,000 award credits and expects that 80% of these award credits shall be redeemed. The total stand-alone selling price of the award credits granted is reliably measured at P2,000,000. In 2020, the entity sold goods to customers for a total consideration of P8,000,000 based on stand-alone selling price. The award credits redeemed and the total award credits expected to be redeemed each year are as follows: Redeemed Expected to be redeemed 2020 30,000 80% 2021 15,000 1. What is the revenue from points for 2020? a. 1,600,000 b 1,500,000 C. 600,000 d 480,000 2. What is the revenue from points for 2021? a.240,000 B.200,000 C. 120,000 d 0

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LONG PROBLEM 1. The following transactions were completed by CCL Company in 2022, whose fiscal year ends December 31: On January 1, Cheng, the owner, invested P10 million cash in a newly organized business, CCL Company, a merchandising company. b. On January 1, the Company bought a building for P5 million cash. The building is expected to have a useful life of 20 years and will have a residual value of P1 million. On January 1, the Company bought furniture and fixtures to be used in the operation of the business for P400,000. These are depreciable over 10 years. d. On January 1, the Company bought office equipment for P600,000. These are depreciated over five years. On April 1, the Company borrowed P1.2 million cash from the bank under a loan contract. Interest rate for the loan was 8% per annum, to be paid on April the following year. On April 1, the Company then bought two transportation vehicles worth P1.2 million using the proceeds from the loan. These are depreciated over five…