Following are the five events of DDT CORPORATION: a. On December 31, purchased a machinery at a price of $ 6,00,000 and signed a note payable due in six months with interest of 9 percent. b. On December 31, estimated that warranty work costing $ 5,00,000 will need to be performed in coming months on those products which were sold in this year with a 12-month warranty. c. On December 31, pay checks totaling $ 289,000 were issued to employees .As these cheques were issued after banking hours on December 31, no cash will be disbursed from payroll bank account until early in January next year. The amounts withheld from employee’ pay and payroll taxes on the employer, $ 51000 and $ 27000 respectively, were remitted to tax authorities next month. d. On November 1, borrowed $ 900000 from a bank signing a 90 day note payable for $ 918000, with interest included in the face amount. e. On November 3, signed a contract for the purchase of 30000 barrels of oil per month in the coming year at a price of $ 30 per barrel. Required: Identify the $ amounts that should appear in the current or long term liabilities sections at the year-end balance sheet of the current year and also identify figures with relevant information that should be disclosed in the notes to financial statements. Briefly explain reasons underlying your answers. Assume the financial statements are completed and issued on January 15, next year.
E.r.gjer.QU'sasset has a book value Of P 1 and a fair market value Of PI 1 and the book
value Of its liabilities amounted to and the fair market value Of
On January I, 2020 Prateroon Company purchased all the net assets Of Stranemon Company consisting Of.'
Issuance Of 20,000 unissued shares Of its PIO par value ordinary share capital As Of this date, the shares Of
Prateroon were selling at P40 per share.
Issuance Of bonds with a face value Of P300,OOO but are currently at IIO.
A contingent payment Of P200,OOO cash on January I, 2020, if the average income Of Stranemon Company during
the two-year period (2020-2021) exceeds P250,OOO per year- Prateroon estimates that there is a 20% chance or
probability that the P200,000 payment will be required,
Issuance Of 5,000 additional shares on January I, 2022 to the former shareholders Of Stranemon Company ifthe
average income cover the next two years (2020-2021) equalled or exceeded P3SO,OOO. The additional 5,000
shares expected to be issued are valued at
Professional fees Of P9,OOO were also paid by Prateroon to its external auditors to finalize the business combination.
As Of the date Of acquisition, Stranemon Company reported the following book value and current market data:
Ordinary Share Capital
Compute the Consolidated Total Liabilities on January 1, 2020.
Assume that you can invest to earn a stated annual rate of return of 12%, but where interest is compounded semiannually. If you make consecutive semi-annual deposits of P500 each, with the first deposit being made today, what will your balance be at the end of Year 5?
For waveguide grating multiplexer with x=d=5.5 /m and L, = 15 mm, n = 1.55, m=1, the number of channels for DBR laser with 1 =1850 nm and maximum index change of 0.75% for n = 1.58 is, (a) 483 (b) 470 (c) 440 (d) 453
Ms. C is a 19-year-old college student. She was brought to the ER with symptoms nausea, vomiting and gastric pain and diarrhea for two days. Upon interview, patient revealed that she ate street foods a few hours before the symptoms developed. She is dehydrated with urine output of 500 ml/day, pale and dry skin, her temperature is 38.2, and stool culture revealed Salmonella infection. She was given IV fluids and loperamide.