The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as...
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The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021: * Cash and cash equivalents Trade and other receivables Subscription receivables Inventory Trade and other payables Income tax payable P 400,000 2,000,000 375,000 500,000 670,000 196,500 Additional information: • Trade and other receivables include long-term advances to company officers amounting to P430,000 • The subscriptions receivable has the following call dates: June 30, 2022 - P200,000; December 31, 2022-P100,000; and June 30, 2023 - $75,000 Inventory of $500,000 was determined by physical count. On December 31, 2021, goods costing P125,000 are in transit from a supplier. Terms of purchase of the said goods is FOB origin. The goods and the related invoice have not been received as of year-end. • Trade and other payables include dividends payable amounting to P170,000, of which $70,000 is payable in cash and P100,000 is distributable in CASHEW's own shares. What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021? The following information pertains to BARU NUTS Company's issuance of bonds on July 1, 2021: * Face amount Term Stated interest rate P1,000,000 Interest payments 10 years Effective yield 8% PV of an ordinary annuity of 1 for 10 periods PV of an ordinary annuity of 1 for 20 periods PV of a single amount for 10 periods PV of a single amount for 20 periods What should be the issue price of the bonds? 4% 8.11 13.59 0.68 0.46 July 1 and January 1 12% 6% 7.36 11.47 0.56 0.31 8% 6.71 9.82 0.46 0.21 12% 6.14 8.51 0.32 0.31 The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021: * Cash and cash equivalents Trade and other receivables Subscription receivables Inventory Trade and other payables Income tax payable P 400,000 2,000,000 375,000 500,000 670,000 196,500 Additional information: • Trade and other receivables include long-term advances to company officers amounting to P430,000 • The subscriptions receivable has the following call dates: June 30, 2022 - P200,000; December 31, 2022-P100,000; and June 30, 2023 - $75,000 Inventory of $500,000 was determined by physical count. On December 31, 2021, goods costing P125,000 are in transit from a supplier. Terms of purchase of the said goods is FOB origin. The goods and the related invoice have not been received as of year-end. • Trade and other payables include dividends payable amounting to P170,000, of which $70,000 is payable in cash and P100,000 is distributable in CASHEW's own shares. What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021? The following information pertains to BARU NUTS Company's issuance of bonds on July 1, 2021: * Face amount Term Stated interest rate P1,000,000 Interest payments 10 years Effective yield 8% PV of an ordinary annuity of 1 for 10 periods PV of an ordinary annuity of 1 for 20 periods PV of a single amount for 10 periods PV of a single amount for 20 periods What should be the issue price of the bonds? 4% 8.11 13.59 0.68 0.46 July 1 and January 1 12% 6% 7.36 11.47 0.56 0.31 8% 6.71 9.82 0.46 0.21 12% 6.14 8.51 0.32 0.31
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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