Accounting Question
Q: firm’s debt is priced at par, so the market value of its debt equals its book value. Since dollars a...
A: Accounting ratios which are regarded as the financial ratios are those ratios which compare the line...
Q: In an effort to increase sales, Rofix Company began a sales promotion campaign on June 30, 2002. Par...
A: Premium expense is the amount which is additionally charged more than the par value for the share or...
Q: Raw material purchased OMR150000,closing stock raw material OMR 53000, Paid freight charges OMR 7000...
A: Raw material means the material purchased and still not enter in to the production lines. Work in pr...
Q: Sun shine inc. bills a costumer for $ 500 in service revenue o April 1. On April 15, Sun Shine recei...
A: The journal entries are prepared to record day to day transactions of the business.
Q: 2C] Direction: Solve the problem. Show your neat and complete solutions. An amortized loan of P100,...
A: SOLUTION- PERIODIC PAYMENT = PV * r / {1-(1/ (1+r)^n}] HERE PV = PRESENT VALUE I.E P100000 r= PE...
Q: Cash in hand Cash at bank Capital Drawings Motor vehicles Trade receivables 400 Trade payables 6,800...
A: Trial balance are as follows:
Q: 7. Share options are measured at a. settlement date b. grant date c. each reporting date d. fina...
A: Employee Stock options - May be granted as inducements to employees to purchase company stock and/or...
Q: what is managerial accounting and why could it be important in your present and future plans as a pr...
A: Management Accounting is the field of accounting which deals to present the necessary accounting inf...
Q: Earned Value Management (EVM) is a method or an approach in measuring the project performance throug...
A: a. 100 units are planned to be supplied in 200 days. So, Number of units planned to be supplied on e...
Q: What is the equivalent units of production (EUP) on conversion in Department 3? a.19,000 b.18,500 c....
A: Equivalent production units are a term used in the establishment of a working process at the end of ...
Q: A defender and a challenger are considered in a replacement analysis. The following decision tree in...
A: The defender will be replaced at minimum cost and more benefit. Calculation of PVAF for 5 years at 1...
Q: Assume that AB Partnership has the following balance sheet. AB agrees to permit new partner C to joi...
A:
Q: If beginning cash equaled $10,000 and ending cash equals $19,000, which is true? A. Operating cas...
A: Cash Flow statement: The cash flow statement depicts the movement of cash over a specific time perio...
Q: r work in excess of 40 hholding is $48, her st up hospitalization insu
A: ANSWER(A) COMPUTATION OF CINDY'S GROSS EARNINGS: Regular earnings $640.00 = (40×16) O...
Q: elow is the information relative to an exchange of assets by Marigold Corporation. The exchange lack...
A: Since the Fair value (FV) is lower than the Book value of the asset and thus it incurs loss. So, los...
Q: two mutually exclusive projects were being compared, would a high cost of capital favor the longer-t...
A: Step -2 in the answer
Q: WG Inc has a bi- weelkly payroll of 100,000 Taxes totaling 35,627are withheld from the employee- Wag...
A: >Expenses are to be recorded when incurred, whether cash has been paid or not. >Salaries and W...
Q: July Established a petty cash fund of $1,100. 1. The cash sales for the day, according to the cash r...
A: Introduction:- The process of documenting or taking note of any financial or non-financial action is...
Q: The Distance Plus partnership has the following capital balances at the beginning of the current yea...
A: Partnership means two or more partners join hands for business purposes and share their profits and ...
Q: Direct Materials Used $465,000 Wages to Line Workers 240,000 Office Rent 72,500 Indirect Materials U...
A: Formula: Total Product cost = Direct materials used + Wages to line workers + Indirect materials use...
Q: The following list of balances is from the ledger of Mrs. Graver a sole proprietor as at April 30, 2...
A: Answer :- Trial Balance as on 30th April, 2020 Purchases 61,420.00 Sales -1,27,245...
Q: which of the following accounts would be closed at the year end.as.part of the closing entries proce...
A: Under closing process all the expenses/(losses) and Revenues/Incomes are transferred to profit and l...
Q: Illustration 1. The expenses for the production of 5,000 units in a factory are given as follows: Pe...
A: Budget refers to the statement prepared by the organizations, government, and individuals for the re...
Q: Accounting Question
A: Accounting is the process of recording, classifying and summarising accounting transactions. Account...
Q: Accounts receivable, January 1 1,300,000 5,500,000 150,000 100,000 Credit sales Sales return Account...
A: Formula: Net sales = Sales - sales return
Q: A diagonal line is placed in the posting reference column of the general journal to indicate that th...
A: Accounting is the process of recording, classifying and summarising accounting information. The main...
Q: Corpor
A: A corporation is a legal body that is separate and distinct from its stockholders. Under the Income-...
Q: Which one of the following expressions about stocks is wrong? a.The estimated dividend payment and ...
A: Stock: Generally speaking, stock (also known as equity) is a financial instrument that reflects owne...
Q: amount of assets and liabilities: another entity when the statement of financial position of P4,000,...
A: Fair value of net identifiable assets = Carrying amount of net assets ± Fair value changes ...
Q: ach entry O Has been collected from O Has been paid to a vend O Will be collected from
A: Let us first, understand the meaning of Account Payable. Accounts payable refers to the money your ...
Q: On April 8, 2019, GODLY Corporation declared and issued a 25% ordinary share capital dividend. Prior...
A: Dividend refers to the amount that is distributed to the shareholders as a reward for the profit tha...
Q: On July 1, 2010, Bettina Company’s board of directors declared a 10% share dividend. The market pric...
A: The dividend is declared from the retained earnings of the business. The dividend can be paid in the...
Q: 1. How are passive investments accounted for under ASPE? a) Cost of amortized cost. b) FVTPL f...
A:
Q: ‘CPAs provide a wide array of information enhancement services referred to as assurance services.’ D...
A: Professional services provided by independent service providers, such as accounting or auditing firm...
Q: Consider the following selected financial information for Green Woods Company. Green Woods Company G...
A: The cash flow statement is prepared to record the cash flow from various activities during the perio...
Q: From the following information distribute cost of Time Keeping department among various other depart...
A: An appropriate basis for allocating overhead costs to each department must be discovered. The basis ...
Q: An aging of a company's accounts receivable indicates the estimate of uncollectible receivables tota...
A: Adjustment required to record the bad debt expense = Estimated Uncollectable receivables -credit bal...
Q: What are the 2 kinds of Partnership as to income taxation purposes?
A: A partnership is a form of business where two or more people share ownership, as well as the respons...
Q: INCOME STATEMENT From the partial work sheet for Major Advising below, prepare an income statement.
A: Accounting is the process of recording, classifying and summarising accounting transactions. Account...
Q: On January 1, 2019, Sobiono company sold land to Gliezel company. There were no established market ...
A: As per PFRS 9 Financial instruments, Note payable will be considered as financial instrument as the...
Q: Diana purchases commercial property for $600,000 and furniture and fixtures for $1,000,000. The ...
A: Total depreciation deduction that Diana may take on her 2020 tax return are as follows
Q: King Company is contemplating the purchase of a smaller company, which is a distributor of King's pr...
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: SCUM REFUSE Co. is contemplating on declaring cash dividends to its preference and ordinary sharehol...
A: Dividend - Dividend is the amount of distribution by the company out of accumulated profit earned to...
Q: Ghana has of late signed a number of double taxation Agreements with some countries. The concerns pe...
A: Double taxation agreements refer to the tax treaty signed between the domestic company with any fore...
Q: 9. The fair value of an equity share option is measured based on 1. the observable market price of ...
A: Entity should recognize compensation expense equal to the estimated FV of the options when granted S...
Q: What are the differences between GAAP and IFRS?
A: The companies are required to follow a set of guidelines and rules in the presentation of financial ...
Q: A credit sale of $1000 is made on may 1, terms 2/10, net/30. A return of $100 is granted on may 3. T...
A: Term 2/10, net/30 means that if the payment of the credit sale is made within ten days, then a 2% di...
Q: What are the accounting profession in the UAE in the last 50 years?
A: Accounting professions refers to those professions which keep the inspection as well as audit of the...
Q: Musang Coffee Factory process and produce premium quality of coffee. It operates a standard absorpti...
A: Absorption costing refers to the concept of determining all the expenses involved in manufacturing t...
Q: The following balances are opening balances for the 1st june for Sanlucas Itd. BALANCES ON 1ST JUNE ...
A: Journal entry - It refers to the process where the business transactions are recorded in the books o...
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