How much should PINK report as current assets on December 31, 2021?

Q: Due to the covid-19 pandemic, TRUE has experienced extreme financial pressure and has been in…

A: Working note: Computation of fair value of note after the changes in terms: Fair value of…

Q: Situation 1 - An entity has a herd of 150 sheep. The sheep are sheared once a quarter to harvest…

A: "Since you have posted multiple questions, we will solve the first question for you. In order to get…

Q: 6. OTHER INCOME Group 2020 RM'000 Company 2019 RM'000 2019 2020 RM'000 RM'000 Gain on disposal of…

A: The question is related to Interest Income for the year 2019 and 2020.

Q: On December 31, 2021, the bookkeeper of BLACK Corporation provided the following information:…

A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle,…

Q: Assuming the investment is appropriately recognized as financial assets at amortized cost: How much…

A: A bond is a kind of debt financial instrument that is being issued by corporations and the…

Q: what amount of interest should be capitalized during 2021?

A: Borrowing cost means where the assets like building , take substantial time to build , then interest…

Q: What is the impairment loss for 2021 and 2022? What is the depreciation for 2023?

A: Impairment loss is a situation when carrying value of the asset is more than the fair value of the…

Q: On January 1,2013, Edition Company purchased an equipment for P1,970,000. On this date, the…

A: Depreciation is an expense which usually charged on the fixed or non-current assets over the years…

Q: On January 1, 2021, Jeremiah Company purchased trading equity investments which are irrevocably…

A: Unrealized profit or losses refer to profits or losses that have not occurred in actual but has…

Q: What is the net income for the current year?

A: Net income refers to net result or net earnings or net profit of an enterprise which is calculated…

Q: . How much from the list od debt above? (items a to d, excluding accrued interests) should be…

A: There are two types of events occurring after the balance sheet date. Some events are adjusting…

Q: Bulgasal Company provided the following data: 2020 2021 Share capital (P100 par value) Share premium…

A: Dividends: A company pays dividends in cash as well as in share dividends out of net income earned…

Q: Wella Company reported a prepaid benefit cost of P 1,500,000 on January 1, 2016. The entity provided…

A: Defined benefit pension plan: A kind of pension plan where a certain amount of pension is reimbursed…

Q: ROA (return over assets for year 2021 and 2020

A: Meaning of return over assets A percentage between net income and total assets Formula (Net income…

Q: How about these questions: 1. how much is the Net Income (Loss) in 2021? 2. assuming the…

A: Lets understand the basics. For calculating requirement, we need to use below formula. Net income…

Q: How to identify net revenue for the current FY?

A: For identifying the revenue earned during the current year the accrual principle of accounting needs…

Q: 4. Blade Corporation spent P500,000 for R&D expenses to develop a patent which is registered on Jan.…

A: Amortization of Patent:  Amortization of patent is same like straight-line depreciation calculations…

Q: YELLOW Company owns an office building and leases the offices under a variety of rental agreements…

A: The Unearned revenue is the liability for the business and revenue receivable is the asset for the…

Q: Loob Company had the following loans at 12% interest payable at maturity. The entity repaid each…

A: Interest is required to be paid on the amount borrowed from financial institutions. The interest…

Q: On January 1, 2019 an entity acquired non-trading equity securities irrevocably elected at FVOCI…

A: Available for sale securities are the financial instruments held by a company for a period between 1…

Q: What amount should be reported as premium expense for the current year?

A: Premium (Gift) means the product given free of cost to the customer on fulfilling the certain…

Q: On June 1, 2019, YODA CORP. acquired a 5-year, 10%, P1,000,000 face value bonds at 92. The company…

A: Accumulated other comprehensive income (OCI) includes unrealized gains and losses reported in the…

Q: In 2021, Masuerte company decided to discontinue the Splicing Division. On December 31, 2021, the…

A: GIVEN   Loss on disposal of some assets during 2021 500,000 Expected operating loss in 2022…

Q: On December 31, 2021, the bookkeeper of BLACK Corporation provided the following information:…

A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle,…

Q: how much is the non-controlling interest in net assets as of December 31, 2022?

A: P Company is the holding company of S company. P company holds 80% shares in S company. The shares…

Q: The adjusted trial balance of Liberty Company Included the following accounts for the current year:…

A: Comprehensive income:   It is the net income generated by a company by all sources and operations.…

Q: TOTAL NON CURRENT ASSETS

A: Non current assets are assets, the benefits from which extend over a time period of more than one…

Q: WHY DOESNT THE NET INCOME AND RETAIN EARNING HAVE A 2020 AND 2021 COLUMN AS LIKE THE ASSET COLUMN

A: SituationAssets as of 31.12.2020Assets as of 31.12.2021Net Income for year ended 31.12.2020Net…

Q: MD Corp. completed the following transactions relating to investment in AO Company ordinary sha…

A: When shares for investment are purchased, they are recorded at the cost. At the end of every…

Q: On January 1, 2019, an entity purchased 15,000 shares of another entity representing a 12% interest…

A: Profit and loss Account In the profit and loss account which includes all type of revenues and…