At the beginning of the year, ACYFAR1 purchased 21% of the outstanding ordinary shares ofACYFAR2 Company, paying Php 8,713,514 when the carrying amount of the net assets of ACYFAR2 Company equaled to 19,987,700. The difference was attributed to equipment which had a carrying amount of 2,488, 179 and fair market value of 4,539,875 and to building which had a carrying amount of 2,051,991 and a fair market value of 3,058,391. The remaining useful life of the equipment and building was 6 and 10 year respectively. During the current year, ACYFAR2 reported net income of Php 2,106,077 and paid cash dividend of 2,366,040What amount should be reported as investment income for the year? (Correct answer: 4,223,229)What is the carrying amount of the investment in associate at the end of the year?

The following information is available for the preparation of the government-wide financial statements for the city of Northern Pines for the year ended June 30, 2024: Expenses:   General government $ 9,840,000 Public safety 23,400,000 Public works 12,290,000 Health and sanitation 6,250,000 Culture and recreation 4,241,000 Interest on long-term debt, governmental type 1,025,000 Water and sewer system 11,950,000 Parking system 416,000 Revenues:   Charges for services, general government 1,121,000 Charges for services, public safety 1,450,000 Operating grant, public safety 702,000 Charges for services, health and sanitation 2,395,000 Operating grant, health and sanitation 1,250,000 Charges for services, culture and recreation 2,181,000 Charges for services, water and sewer 13,118,000 Charges for services, parking system 294,000 Property taxes 27,300,000 Sales taxes 21,098,000 Investment earnings, business-type 314,000 Unusual or…

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A computer consulting company uses job costing system and has a pre-determined overhead rate of $24 per direct labor hour. This amount is based on an estimated overhead of $23,000 and 2,000 estimated Direct Labor hours. In addition, Selling, General, and Administrative (SG&A) costs for the period totaled $155,000. Total units produced during the period were 1,250,000. Job # 175 incurred direct material costs of $60 and three direct labor hours costing of $83 per hour. What is the total cost of Job # 175?

General accounting

A computer consulting company uses job costing system and has a pre-determined overhead rate of $24 per direct labor hour. This amount is based on an estimated overhead of $23,000 and 2,000 estimated Direct Labor hours. In addition, Selling, General, and Administrative (SG&A) costs for the period totaled $155,000. Total units produced during the period were 1,250,000. Job # 175 incurred direct material costs of $60 and three direct labor hours costing of $83 per hour. What is the total cost of Job # 175? Don't Use Ai

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