FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The ledger account for the long term investments of Fresh Company showed a balance of Php155,000 as of December 31,2017 . An analysis of the

image text in transcribed
The ledger account for the long term investments of Fresh Company showed a balance of Php155,000 as of December 31,2017 . An analysis of the account showed the following details: Required: 7. How much is the correct balance of the permanent investment account as at December 31,2017 ? ( 5 pts)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

5th Edition

1264467206, 978-1264467204

More Books

Students also viewed these Accounting questions

Question

★★★★★
J. Talbot is the accounting manager for Kolla Waste Disposal Corporation. Kolla is having its worst financial year since its inception. The company is expected to report a net loss. In the midst of...

Answered: 1 week ago

Question

★★★★★
Three years ago, Barbara donates a painting that cost $8,000, to a university for display in the presidents office. The fair market value of the painting on the date of the gift is $14,000. If...

Answered: 1 week ago

Question

★★★★★
describe some research evidence on the predictors and outcomes of job crafting;

Answered: 1 week ago

Question

★★★★★
Silver Lining, Inc., provides investment advisory services. The company adjusts its accounts monthly, but performs closing entries annually on December 31. The firms unadjusted trial balance dated...

Answered: 1 week ago

Question

★★★★★
A financial institution has entered into a swap where it agreed to receive quarterly payments at a rate of 2 % per annum and pay the SOFR three month reference rate on a notional principle of $ 1 0 0...

Answered: 1 week ago

Question

★★★★★
Omni Enterprises is considering whether to borrow funds and purchase an asset or to lease the asset under an operating lease arrangement. If it purchases the asset, the cost will be $26.000. It can...

Answered: 1 week ago

Question

★★★★★
The International Space Station considers what many believe to have been the ultimate international engineering project in history. The initial plans involved the direct participation of 16 nations,...

Answered: 1 week ago

Question

★★★★★
Two days after talking with Karen, Daniel received a packet of information from the mayor s office. The information included news clippings, minutes from community meetings, and the telephone numbers...

Answered: 1 week ago

Question

★★★★★
Decedent is a citizen of the Philippines and a resident of Quezon City, died leaving the following: Rest house in Batangas inherited from his father during marriage Car received as gift from his...

Answered: 1 week ago

Question

★★★★★
ion 16 of 21 > Identify whether each scenario is an example of a marginal cost, marginal benefit, or neither. Answer Bank a marginal cost. not marginal. a marginal benefit. Chipset, Inc. sells...

Answered: 1 week ago

Question

★★★★★
Choose 2-3 changes you would consider making to deal with some of the potential issues that might be leading to turnover. what key concepts you think apply, some potential solutions to the problem...

Answered: 1 week ago

Question

★★★★★
discuss the importance of ethical practice for the HR profession;

Answered: 1 week ago

Question

★★★★★
reference your work in a credible way.

Answered: 1 week ago

Question

★★★★★
read in a critically evaluative way;

Answered: 1 week ago

Previous Question Next Question