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- A company entered into a two-year cloud computing arrangement by paying $74,000 immediately to a vendor and also incurring the following costs: Pre-implementation planning Integration of software Coding and customization of $34,000 69,000 104, 000 software Post-implementation operation 49,000 Determine the amount the company should capitalize at the beginning of the arrangement. Multiple Choice $257,000.O O O O O Section 1: General Information X GIn the three-stage mpairm QLSfelWr2G3Yy-WzMesbLH8bwuZF1cS 9Fuvofcq8GL2f5tEFFA/formResponse Clear se On January 1, 2022, State Co. sold an equipment to Nation Co. The latter issued a five-year P500,000, 10% note to State Co. The note requires interest to be paid annually every December 31 starting December 31, 2022 until the maturity of the note on December 31, 2026. The equipment has a cost of P1,000,000 and accumulated depreciation as of January 1, 2022 of P550,000. The prevailing interest rate for a note of this type is 12%What amount should be reported as gain (loss) on sale of equipment? (Round off PV factors to four decimal places.) O13,940 gain O13,940 loss O50,000 gain O50,000 loss O Answer not given True or False (PAS 41) to100 l 6 2 2_524467555402776... Q1_ The following balances appeared in the trail balance for the year 2020 of AL-Nada co? Accounts Sales Purchases commission Purchases Balance 830 000 18 000 |480 000 90 000 2 000 000 165 00 Accounts Balance 7 000 Repair Interest received 25 000 Revenue 70 000 Purchases return Sales allowance 20 000 Creditors Freight out Loan 3 000 000 Import customs 22 000 Purchases allowance 25 000 Beginning inventory 90 000 Purchases discount Building 10 000 5 000 000 Sales discount 8 000 Sales insurance 20 000 Cars 18 000 000 Purchases insurance 10 000 Sales commission |21 000 Salaries 120 000 ighting Purchases expenses Depreciation cash 14 000 Rent 80 000 |26 000 18 000 Sales return 12 000 Bank 10 000 000 1 200 000 Debtors 2 000 000 Ending inventory 65 000 Capital Ins: 1_ Prepare the trading statement for the year ended in 2020. 2_Prepare the profit and loss statement for the year ended 2020. 3_Prepar a classified balance sheet in a good format (use statement form)
- FE9Advice the closing inventory value as at July 31stProduct Qty On Hand Cost NRVWJ01 225 $0.05 $1.00WJ02 114 $0.20 $0.90WJ03 74 $2.00 $1.60WJ04 35 $6.20 $6.18WJ05 3 $2,500.00 $2,550.00WJ06 58 $1.50 $1.55a) 7,986.05b) 7,955.75c) 8,402.20d) 7,960.65OW21 Onlin teachin x N2 | Online teaching esource from Cengag... w.com eBook Cash Inventory Land Notes Payable tMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false V Xi Lin, Capital Feedback ps Panthère de Cartier... ✓ Show Me How Journalizing Partner's Original Investment assumed a $57,000 note payable owed by Lin that was used originally to purchase the land. Xi Lin contributed land, inventory, and $35,000 cash to a partnership. The land had a book value of $79,000 and a market value of $152,000. The inventory had a book value of $53,100 and a market value of $48,900. The partnership also Required: Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank. 35,000 53,100 X 152,000 48,900 X 79,000 X 57,000 Pink Playful Femini... Check My Work 5 more Check My Work uses remaining. & MX Check My Work Record the assets at their current values, and record the liability at its current value. Lin's Capital…2.19) Find the average daily balance (new purchases included) Payment End of Day Balance Dates 1/1-1/19 1/20 1/21-1/22 1/23 1/24-1/31 $250.00 Average → Purchase $50.00 X Number of Days $225.00 x $275.00 x $275.00 x $25.00 x $25.00 x Total → 19 1 2 1 8 31 Sum of Balances I If the finance charge is 1.75% of the average daily balance, what is the finance charge is problem 2.19? Finance charge →
- 16 1:24 il k M Brokeroge O Brokerege Purchase (+) Sell (-) = 250 XOSp = 7125 Purchae cort pthee = 2So+125 = 7 251.25 No d ha 75375 251.25 300 the O Brokeroge 720 x042 - Sallig Pice pn thoe = 720 - 288 = 717 No ot Ahey 420272 717.12 Published on Mar 20, 2020 1)Mr. Shah invested Rs. 75,375 to purchase equity shares of a company at market price of Rs. 250 through a brokerage firm, charging 0.5% brokerage. The face value of a share is Rs. 10. How many shares did he purchase ? 2) Mr. Nene received Rs. 4,30,272 after selling shares of a company at market price of Rs. 720, through Sharekhan Ltd., with brokerage @ 0.4%. The face value of the share is Rs. 10. Find the number of shares he sold. 3)Aniket invested Rs. 61,357.5 in equity shares of Rs. 100 each at a market price of Rs. 135 per share. Later he sold these shares at a market price of Rs. 160 per share. He paid 1% brokerage on each transaction. Find his net gain and also the percent gain. Source : BUSINESS MATHEMATICS - MANANBalance on April 1, 2020Debtors control Dr. $65, 145Debtors control Cr. 600Creditors control Dr. 950Creditors control Cr. 75, 500Totals for the month of April 2020Cash purchases 35, 600Credit purchases 62, 600Cash Sales 47, 000Credit Sales 75, 000Contra entry: Set off 1, 800Refund to cash customers 2, 800Bad debt written off 3, 300Discount Allowed 3, 750Total payments to suppliers 87, 000Total receipt from customers 98, 800Discount received 5, 500Dishonoured cheques: customers 2, 900Increase in the allowance for bad debts 2, 100Return Inwards 2, 400Return Outwards 15, 200Balances at 30 April 2020Debtors control: Dr. ? Cr: $8 300Creditors control: Dr. $7 500 Cr: ?Required: Prepare the Sales ledger control account Prepare the Purchases control accountYE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holon
- VVIICH UI the TVWO TmetiTIOUS UC you pTeter affa wiry: P8-4 (LO3) EXCEL (Compute FIFO, LIFO, and Average-Cost) Hull Company's record of transactions concerning part X for the month of April was as follows. Purchases Sales April 1 (balance on hand) 100 @ $5.00 April 5 300 400 @ 5.10 12 200 11 300 @ 5.30 27 800 18 200 @ 5.35 28 150 26 600 @ 5.60 30 200 @ 5.80 Instructions (a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit costs to the nearest cent. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost.4G 4G 7:43 O 80 TP-PRELIMS.docx The adjusted account balances of UTV Corp. for the year ended December 31, 2020 are as follows: Cash and cash equivalents Bank overdraft P400,000 100,000 900,000 Accounts receivable Allowance for doubtful accounts 40,000 Raw materials Goods in process Finished goods Financial assets at fair value through other comprehensive income Land, at fair market value 12/31/20 Building Accumulated depreciation - building Plant and equipment Accumulated depreciation - plant and equipment Patent Goodwill, recognized in Jan. 2019 thru a business combination Note payable, bank - due June 30, 2021 560,000 600,000 1,400,000 2,500,000 1,000,000 6,000,000 1,600,000 2.400.000 400,000 800,000 1,400,000 1,300,000 Note payable, bank - due June 30, 2022 Accounts payable Employee benefit provisions Warranty liabilities Income tax payable Deferred tax liability Accumulated profits, January 1, 2020 Revaluation surplus on Land, January 1, 2020 Unrealized gain on financial assets,…2.17) Find the average daily balance (new purchases included) Payment End of Day Balance Dates 12/1-12/9 12/10 12/11-12/17 12/18 12/19-12/31 Average $840.00 Purchase $230.00 X Number of Days $975.00 x $1,205.00 x $1,205.00 x $365.00 X $365.00 x Total → 9 1 7 1 13. 31 Sum of Balances