Journal Entry for this   12    Applied for a P2,500,000 business loan from a bank by mortgaging his farm. He plan to use this to construct a clinic.   15    The loan was approved, and the money deposited in the name of the business which Deither opened on the same date.   30     A two-story clinic was constructed on a vacant lot which he owns. The lot is worth P300,000. The construction cost was P1,500,000. Both registration papers are in the name of the clinic.

Q: The Barstool Fund just provided the owner of ‘Gaetano’s Tavern’ a 5  year ‘pandemic assistance’…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Mr. and Mrs. Patel, local golf stars, opened the Patel Chip‐Shot Driving Range Company on March 1,…

A: Here, in this case, a business operated loss of $ 6100 is the difference between the total invested…

Q: Liam had an extension built onto his home. He financed it for 48 months with a loan at 4.9% APR. His…

A: Loan (mortgage) amortization schedule refers to a schedule which is prepared to shows the periodic…

Q: Mike wants to donate $5,000,000 to establish a fund to provide an annual scholarship in perpetuity.…

A:

Q: omplete amo

A: fixed Monthly payment = P*R* ((1+r)^n)/((1+r)^n-1) P= Loan amount R= 5.90%/12= 0.4916% N= 12*0.5= 6…

Q: Todd purchases a new car for $22,650. He makes a $5000 down payment and finances the remainder…

A: Amortization is the process of gradually paying off a debt or loan through regular, scheduled…

Q: (iii) (iv) - - Select THREE (3) transactions that Kate Minimart performs and illustrate their effect…

A: Transactions that Kate Minimart performs: (1) Kate invested $20,000 of her own funds in business…

Q: This year Evans graduated from college and took a job as a deliveryman in the city Evans was paid a…

A: The Internal Revenue Service [IRS] is the taxation authority in the USA. As per…

Q: Are there any tax advantages they can gain by restructuring areas of their finances (More…

A: Registered Retirement Savings Plans (RRSPs) are Canadian investment accounts designed to help…

Q: According to the income approach, this transaction would be recorded as a A. $60,000 increase in…

A: The transactions get recorded as income approach, expenditure approach and product approach. We will…

Q: In order to make some home improvements, a homeowner spent $24000. He paid 18% as a down payment and…

A: given information spent = $24,000 down payment = 18% APR = 4.5% 36 month fixed installment loan

Q: A man purchased a house for P425,000. In the first month that he owned the house, he spent P75,000…

A: Following is the timeline of given case Month 0 - Purchased the house Month 1 - Spent on repairing…

Q: The following transactions occurred during the year. Record these transactions. HHL took out a…

A: Journal entry:- A journal entry is the process of recording business transaction into an accounting…

Q: You will perform the following: (0) (ii) 3 LI KID (IV) Select an accounting principle and explain…

A: There are primarily four types of financial statements, each serving different purposes, that are…

Q: Mr. Gumba is planning to take a SAM his new condo, which is valued at $220,000 for mortgage (loan)…

A: The effective cost of borrowing is a comprehensive metric that goes beyond the nominal interest…

Corporate Ethics

Ethics refers to the moral values and principles that guide an individual. Corporate ethics refers to the moral behavior of a company and its employees while conducting business. Business ethics is another name for corporate ethics. Business ethics reflects the purpose of doing the business. Business ethics is the distinction between what is right and wrong in the workplace and the selection of the right set of actions. Every corporate entity follows business ethics to a large extent in order to survive and compete successfully in the market. Corporate entities that strictly adhere to business ethics gain the trust of their stakeholders and thus gain more customers. An organization follows compliance, i.e., following certain business policies, rules, procedures, and practices to deal with the problem arising from the business environment. Business ethics also ensures that they meet compliance requirements as it was connected with the activities of an organization.