Accounting Question
Q: f. The administration and selling costs are paid quarterly in advance on 1 January, 1 April, 1 July ...
A: Cash Budget The purpose of preparing the cash budget of the firm to know the allocation of cash for ...
Q: Issuance of a Bond at Face Value On January 1, 2017, Whitefeather Industries issued 900, $1,000 f...
A: 1. Accounting Equation - Accounting Equation is calculated using following equation - Assets = Liabi...
Q: Blueprint Connection: Depreciation Methods Depreciation is the process of allocating the cost of an...
A: Depreciation is the wear and tear of an asset. Depreciation is an expense that is allocated based on...
Q: Deluxe Fender uses a standard cost system and provide the following information: 1(Click the icon ...
A: Formula of - Variable overhead cost variance = (Actual Cost - Standard Overhead Cost for actual pr...
Q: CANDY'S CLEANING SERVICES Bank Reconciliation April 30, 2020 $33,452 Book balance Bank balance $28,9...
A: There is a possibility that account balance as per book and as per bank will not match in an organiz...
Q: Carlo is to purchase his dream car he needs to find a way to get P2,500 in cash right now! Carlo fin...
A: Future value = Present value × (1+ periodic rate)^n where, N= number of period Periodic rate = ...
Q: A businessman has to settle a debt of 4 equal semi-annual payments of ₱50,000 at 9% rate of interest...
A: Obtaining a loan from financial institutions is one of the sources of meeting the financial needs/ r...
Q: A: A Company has been manufacturing its own widgets that are used in producing its final product. T...
A: Variable cost means the cost which vary with the level of output and fixed cost means the cost which...
Q: Choose the correct answer: 1. Physical plant assets can include: a.Machinery deposits not received...
A: As you have asked multiple MCQs we can solve only first three parts for you if you want to get answe...
Q: Activity-Based Costing HealthTec Equipment Company manufactures stationary bicycles and treadmills. ...
A: Activity cost applied = Activity rate*Activity used Activity cost per unit = Total cost/Number of un...
Q: A summary of transactions undertaken by Wellworth Stores during the month of January 2018 are as fol...
A: GST is the goods and services tax which is charged on the goods and services. The rate of GST is 15%...
Q: Due to the COVID-19 pandemic, Hyden Ltd, being one of the leaders in the tourism industry, has recog...
A: Accounting Treatment of Tax Losses During the affect of pandemic situation in all over the work the ...
Q: mayan company had net income of 33,180. the weighted- average common shared outstanding were 8,400. ...
A: Earnings per share = Net income/weighted average number of common shares
Q: Luca Co offers machine rental services for concrete cutting. Consider the following costs of the com...
A: TOTAL COST PER HOUR : = ESTIMATED TOTAL COST / TOTAL VOLUME OF HOURS
Q: Ricky signed a contract to sell his slightly-used Suzuki Vitara Golf for $15,000 to an old friend Bo...
A: Contract means where two parties agree to do something for another party in discharge of the obligat...
Q: On 3 September 2020, Debussy Ltd purchase 40,000 $1 listed equity shares of Red Copper Ltd at a pric...
A:
Q: List five factors that may indicate that a client may not remain a going concern. For each, indicate...
A: Subjective means that the result depends on the perception of the person.
Q: L0.2J 3J 9 On June 5, 2018, Javier Sanchez purchased and placed in service a new 7-year class asset ...
A: Depreciation refers to the process of evaluating the decline in the rate of an asset over the course...
Q: The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40...
A: Insignia Corporation's income statement for the year ending December 31, 2015, is shown below (amoun...
Q: Haydn Ltd and Ravel Ltd own 51% and 49% respectively of the ordinary shares that carry equal voting ...
A: As per IFRS 10 an entity is said to be parent to the other if it obtains control over its subsidiary...
Q: Accounting Question
A: A partnership liquidation occurs when the members or partners determine that the partnership seems t...
Q: Ratio between current assets and liabilities is called ratio
A: The ratio between current assets and current liabilities is called the current ratio instead of rati...
Q: An entity had the following events and transactions during 2020: Depreciation for 2019 was understa...
A: Loss included in income from continuing operations for 2020 = litigation settlement resulted in a lo...
Q: How can poor quality be expensive to the firm, especially if low-cost raw materials are used to redu...
A: We need to understand the how much cost a poor quality be expensive to firm. We understand that for ...
Q: h. The December 31, 2020, balance in the Allowance for Doubtful Accounts. (Round your final answer t...
A: Allowance for Doubtful Debit The purpose of creating the allowance of doubtful debt which is adjuste...
Q: If the purchases total P240,000 and the ending inventory is bigger than the beginning inventory by P...
A: Cost of goods sold = opening stock + purchases - closing stock
Q: Return on Investment and Residual Income Johnson Company has two sources of funds: long-term debt an...
A: Return on Investment = Net IncomeTotal Investment ×100 Here Total Investment = Total Asset Residua...
Q: B. Given the following information, calculate the value of missing items: No CAPITAL LIABILIES EXPEN...
A: Answer- No Capital (RM) Asstes (RM) Liabilities (RM) Expenses (RM) Revenue (RM) i `47400 A (70...
Q: a company had a beginning balance in retained earning of 43,400. it had net income of 6,400 and decl...
A: Ending balance in retained earnings = Beginning balance in retained earning + net income - Dividend ...
Q: When the store manager receives a requisition note, he issues three copies of purchase order. Two co...
A: Internal control: Internal control is a procedure used by a company's board of directors, management...
Q: In which of the following cases in a translation adjustment necessary? Notes to financial statements...
A: Financial statements are statements that are prepared at the end of the period in order to analyse p...
Q: IS. 51 Year 2 (Rs. 1,00,000 2,00,000 40,000 1,00,000 1,40,000 25,000 19. 2073 SetDQ.No. 16 Following...
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...
Q: Internal controls The following is an excerot from a conversation between two salesclerks,Jean Moen ...
A: Embezzlement is becoming more common these days. This is typically done by trustworthy workers since...
Q: Swifty Industries presents you with the following information. Complete the table for the year ende...
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: What is alternative cash flow measures?
A: Cash flow refers to the amount of cash that moves in and out of the business because of its operatio...
Q: Dura-Conduit Corporation manufactures plastic conduit that is used in the cable industry.A conduit i...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: 1.Reta corporation purchased a machine for 50,000. Useful life=10 years Residual value=2,000 Fin...
A: Depreciation is an method of accounting where the assets are being subjected to wear and tear over t...
Q: Take home pay or net pay means: a. gross pay less all deductions b. gross pay plus the amount paid ...
A: We first needs to understand the meaning of gross pay and net pay to answer this. Gross pay is a emp...
Q: Schuepfer Incorporated bases its selling and administrative expense budget on budgeted unit sales. T...
A: Expected cash disbursements are an important part of any company's monthly financial picture. They...
Q: ssica is a one-third owner in Bikes-R-Us, an S corporation that experienced a $52,200 loss this year...
A: Year 1: S corporation that experienced a $55,200 loss this year (year 1). In Year 1 Jessica is allo...
Q: Under Strategic analysis, a component measuring the change in cost assigned to the input price in th...
A: Strategic analysis means analysis of business and strategy of business that whether it provides chan...
Q: A company earns a profit after tax of $150,000 for the year ending on 31 December 2020. The comparat...
A: Total no. of shares = No. of shares issued + bonus issue = 240000 + 240000 *1/4 = 300000 shares
Q: HS Stores purchased equipment on credit from RG Traders for R11270 (inclusive of 15% VAT). The VAT i...
A: VAT is value added tax that is being payable or receivable on sale of goods.
Q: What is account?
A: Account is very important term that is used in accounting process.
Q: Sullivan Equipment Sales showed the following. 2020 Jan. 15 Sold $25,000 of nerchandise for $29, e00...
A: The credit sales term 3/5, n/15 means that when the sales are made on credit, if the customer makes ...
Q: Kitchen Equipment Company uses the allowance method to account for uncollectibles. On October 31, It...
A: Date Account Titles and Explanation Debit Credit Oct'31 Allowance for doubtful accounts $ ...
Q: Prepare Final Accounts from the following trail balance of Mr.Lokesh for the financial year ending 3...
A: Final accounts in the business means financial statements that are prepared at the end of the period...
Q: Reviewing high level processes, interviewing, understanding the business is part of the _____ phase....
A: (A) Survey is the phase which includes reviewing high level processes interviewing and understanding...
Q: three neighbouring cities that are discharging two kinc lutants, A and B, into the river. Now the Ut...
A:
Q: Kenneth Inverness's weekly gross earnings for the week ended April 22 were $1,000, and his federal i...
A: Tax represents the liability paid to the government calculated on the income earned.
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