Accounting Question
Q: Own solution
A: Current asset = revenue for year except revaluation profit on land
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A: At the time of preparation of trial balance, ideally both sides should match with each other.
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A: 1. Purchase Ledger Control A/c Particular Amount Particular Amount To Return Outwar...
Q: Which one is the correct answer?
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A: Cost to the Meisels Inc. if Division Y purchases the 6,000 units from Division X, Total Cost to comp...
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A: Given Giorgio Italian Market bought $10,000 worth of merchandise from Food Suppliers and signed a 3...
Q: In Part 5 of Form 940, Peterson Company reported FUTA tax liabilities as follows: First quarter: ...
A: FUTA Tax Provisions: In the event that the FUTA tax exceeds 500, it must be paid by the last day of...
Q: Show the solution in good accounting form
A: The question is based on the concept of Business Accounting.
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A: Co-ownership means when the property, asset, or vehicle is owned by one or more owners...
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A: All amounts are in P.
Q: Please complete the instructional questions (a) and (b) so I can check my work. Thank you. -Mitch
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A: The prime rate means the lowest borrowing rate of money.
Q: On May 1, 2021, AAA and BBB formed a joint operation to acquire and sell a special type of merchandi...
A: Joint venture means where two or more persons comes together to do some business and share profit as...
Q: shed houses to their customers. The following dat er is to sign. Each house costs $4,000,000 eac cte...
A: As per the fundamental accountiing principle a revenue should be recogniised only when it is earned....
Q: The cost to produce Part A was $20 per unit in 2016. During 2017, it has increased to $23 per unit. ...
A: The cost to produce Part A was $20 per unit in 2016. During 2017, it has increased to $23 per unit. ...
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A: This question deals with the IFRS 115"Revenue from customer". As per the IFRS, there is five steps o...
Q: What is Output tax
A: In order to generate revenue, the government frequently employs and imposes indirect taxes. They are...
Q: What is the effect of share split up? a. Increase in number of shares and increase in cost per share...
A: Share split up does not effect reatined earnings and total paid-in capital. Hence, the total stockho...
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A: The company also will prepare the contribution margin income statement to arrive at the contribution...
Q: Differential Analysis for Machine Replacement Kim Kwon Digital Components Company assembles circuit ...
A: Differential analysis is performed when one of the two alternatives are to be selected. Differential...
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Q: Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units ...
A: Given Patrick Inc. makes industrial solvents. Planned production in units for the first three months...
Q: labor-hours. ompany's total manufacturing overhead for the year is expected to be $ Tred: ne company...
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Q: PROBLEM E: You were engaged by SKT Company for the first time on February 15, 2018, to audit their f...
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Q: Indicate what is the difference between a general partnership and a limited liability company and wh...
A:
Q: Factory overhead cost variances Blumen Textiles Corporation began April with a budget for 90,000 hou...
A: Factory Overheads are the indirect costs related to production or manufacturing in the factory.
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A: Management accounting: The act of distinguishing, investigating, , measuring, interpreting, and conv...
Q: Reconstruct Journal Entries At end of its first year of operations, Leo Company lists the following ...
A: Journal entries are defined as posting of transactions of the company into books and then it is anal...
Q: Which of the following is not an error of principle Repair or the over hauling of machinery purchas...
A: The error of principle occurs when accounts are debited and credited correctly but wrong account is ...
Q: Two installations are being considered to provide for water storage in a chemical plant. A tank on a...
A:
Q: XYZ CO. delivered 150 portable gas stoves to DEF CO. on consignment. These stoves cost P2,700 each a...
A: Consignment means where consignor send goods to consignee to be sold by later on the behalf of consi...
Q: Stylist Services Co. offers its services to individuals desiring to improve their personal images. A...
A: Accounts are closed by transferring the balance of temporary accounts to retained earnings.
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A: The trial balance is prepared by posting debit and credit balance from the ledger accounts.
Q: Which of the following is not a non-cash activity?a. Issue of shares to purchase assets.b. Issue of ...
A: In terms of accountancy, cash is a form of current asset and is reported under the balance sheet of ...
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Q: Use this information for Miramar Industries to answer the question that follow.Miramar Industries ma...
A: Activity-based costing is known as one of the methods used for allocating indirect costs. In this in...
Q: The income statement in which the total of all expenses is deducted from the total of all revenues i...
A: The income statement is prepared to find net income or losses incurred during the period.
Q: ecision to Discontinue a Product On the basis of the following data, the general manager of Foremost...
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Q: Fixed asset turnover ratio Verizon Communications Inc. is a major telecommunications companyin the U...
A: Ratio analysis is part of management accounting in which various types of ratios are computed and an...
Q: HII. DIRECTION: 1. Prepare the Statement of changes in equity with the accounts given below using yo...
A: xxx Services Statement of changes in owner's equity For the year ended December 31, 2019 Capit...
Q: E11-15 Asset Impairment On January 1, 2015, Vallahara Company purchased machinery for $650,000, whic...
A: Impairment An asset is impaired when its recovering amount is less than carrying amount.
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A: Fixed cost are not relevant for decision making
Q: On January 1, 20x6, BUNNY, a real estate company, entered into a contract to construct a subdivision...
A: Current assets refer to any form of asset that is monetary beneficial for an individual or an entity...
Q: Macky’s partnership agreement with two partners was done haphazardly and thus caused somelimitations...
A: The essence of every partnership agreement is to reflect the idea that each partner may enter into c...
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