1:41 O 96.j
Q: REQUIRED: 51. Compute the amount of investment attributable to goodwill. a. 480,000 b. 192,000 -2.…
A: On January 4,2021 Did something Bad Inc. acquired 30% of the shares of Did Something good Inc. at…
Q: Problem 5-6 (PHILCPA Adapted) At the beginning of current year, Rampant Company reported that the…
A: Accounts receivable: It is a current asset of an organization. It is the amount due from customers…
Q: Amount Category Working capital Revenue (thousands) P 1,800 30,000 17,200 Plant and equipment If the…
A: Residual income is the amount of net income which is over and above net income at normal operation…
Q: 3. Discount P60,000 due in 40 years at 12% compounded quarterly. 4. Find the present value of…
A: Since you have asked multiple questions, we will solve the first question for you. Please ask…
Q: On January 1, 2020, Yuri Company leased a machine with the following information: Annual rental…
A: Lease Payment: A lease payment is a payment that is pursuant to a lease agreement. This agreement…
Q: Problem 4-11 (PHILCPA Adapted) At year-end, Harem Company reported accounts receivable of P8,200,000…
A: Accounts receivable: It is a current asset of an organization. It is the amount due from customers…
Q: JACKIE Company uses the average method and adds materials at the start of the production in the…
A: Given data, Cost of material in beginning WIP inventory = 60,000 Cost of material added during the…
Q: their utility bills as service charge. security, and maintenance. The association charges unit…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Group 2 On August 1, 2022, AtrasZhinigang Manufacturing Co. received P4,200,000 from The STUVWXYZ…
A:
Q: SHOW COMPLETE SOLUTIONS AND ANSWERS
A: "Since you have asked multiple sub part question we will solve the first three question for you. If…
Q: 3. Savings Bank of Goodworks has three revenue-generating departments: checking accounts, savings…
A: The step method of cost allocation is also referred to as the sequential method of cost allocation…
Q: Sky Company provided the following information at year-end: 2019 2018 Accounts receivable Allowance…
A: Sales: Sales include a number of goods and services sold by the organization during their accounting…
Q: Coronado Industries is evaluating its Piquette division, an investment center. The division has a…
A: Return on investment = Controllable margin/Average operating assets Average operating assets =…
Q: PAUL Trading Co. has a branch in Quezon City. On December 31, 2019, Quezon City Branch account in…
A: Branch account: Branch accounting is a book keeping system in which accounting entries are passed…
Q: 3. Syanton manufactures a particular computer component. Manufacturing cost per units are as…
A: Number of Units: 10,000 units Relevant cost to Make Amount (in P) Relevant cost to Buy Amount…
Q: 2. A residential lot has a property value of Php 53,000, and it is depreciated 11% sinking fund…
A: Depreciation charging methods include: Straight-line method Double declining method Sum of years…
Q: The following information were obtained from the records of HILO Company: Production in units 8, 000…
A: Answer: Given Production units 8000 Manufacturing costs Direct materials 5 per unit…
Q: Total Budget Item Product Costs Ace 200,000 Bell 100,000 Budgeted sales in units Selling price per…
A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…
Q: As an assistant engineer you are requested by the manager of your company to determine the amount…
A: The concept of the time value of money would be used to find the required borrowing amount. The…
Q: AA and BB formed a partnership in January 1, 2016 and made the following investments and withdrawals…
A: Bonus calculation Net profit after salary = 480000-360000=120000 Bonus (X)= 25%(120000-X) Bonus=…
Q: 2019 2018 Rate of Inc(Dec) Sales P500,000.00 (0.50%) Cost of Goods Sold 50% 40% Gross Profit ?…
A:
Q: The accounting staff of STUVWXYZ Company made the following entries in recognizing transactions of…
A: Prior Period Adjustments are the adjustments made in the current financial statements because of…
Q: Chowkie Company has the ff information: Inventory Accounts payable December 31, 2010 USD 2,000,000…
A: Formulas: Cost of goods sold = Beginning inventory + Cost of goods purchased - Ending inventory…
Q: Examine the following selected financial information for The Deal in Town Corporation and JustFor Yo…
A: Leverage ratio of the company measures how much debt is owned by the business out of its total…
Q: A, B, and C are partners with average capital balances during 2016 of P472,500, P238,650, and…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: nd show your soluti
A: shareholders' equity of NNN Company on December 31, 2014 follows: calculation of Book value of per…
Q: Problem 3-18 Keniy used to bet in PCSO lotto. On June 3, 2014, he won the P20,000,000 jackpot prize…
A: The Philippine Charity Sweepstakes Office (PCSO) produces the PCSO Lottery Draw, a Philippine…
Q: receives any surplus. If instead, Bo can only get $5 (thousand) elsewhere, then the price that…
A: Case 1: (20- p) - (p - 12) = 20 - p - p + 12 = 0p= 32/2 p= 16 Case 2: (20 - p) - (p - 5) = 12 - p -…
Q: damages. Compute Carl's total return on capital. Problem 3-10 sued an unscrupulous person for…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: During the year, the total fixed costs amounted to P60, 000 when the contribution margin is 40% of…
A:
Q: The following information relates to Blueberry Company's materials Y C6st Of Yuas =P 320 Working…
A: Economic order quantity (EOQ) can be defined as the ideal order quantity that a company should…
Q: Rainbow Company produces a single product. The following data were gathered from the records of the…
A: Answer: as per Q/A guidelines, only first three subparts are to be answered Variable Cost: P…
Q: What total amount should be reported as current trade and other receivables? a. 2,200,000 b.…
A: Trade receivables can be defined as a form of current assets which represents the amount that is…
Q: On January 1, 2020, Gold Company entered into a 5-year lease of a floor of a building with the…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: The following Statement of Financial Position for the partnership of A, B and C were taken from the…
A: Bonus to A = ( Net income - salaries - interest )×Rate100 + Rate = (…
Q: 2. A firm is evaluating two projects. The firm's cost of capital (appropriate discount rate) has…
A: The Net Present Value is the most accurate technique for evuation of capital budgeting decisions.…
Q: 2. A start-up biotech company is considering making an investment of $100,000 in a new filtration…
A: Here, Cost of Investment is $100,000 Annual Receipts is $75,000 Annual Expenses is $45,000 Useful…
Q: Over 120 days 50% tequirements: 1. If there were no other entries to the allowance for doubtful…
A: The balance of Accounts receivable and the allowance for doubtful debts for LOPEZ Inc. as on…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Purchase-related transactions The following selected transactions were completed by Epic Co. during August of the curr ent year: Aug. 3. Purchased merchandise on account for $33400, terms FOB destination. 2/10. n/30. 9. Issued debit memorandum for $2500 ($2450 net of 2% discount) for merchandise from the August 3 purchase that was damaged in shipment. 10. Purchased merchandise on account, $25,000, terms FOB shipping point, n/com. Paid $600 cash to the freight company for delivery of the merchandise. 13. Paid for invoice of August 3, less debit memorandum of August 9 31. Paid for invoice of August 10. Instructions Illustrate the effects of each of the preceding transactions on the accounts and financial statements of Epic Co. Identify each transaction by date.Purchase-related transactions Journalize entries for the following related transactions of Lilly Heating Air Company: A. Purchased 36,000 of merchandise from Schell Co. on account, terms 1/10, n/30. B. Paid the amount owed on the invoice within the discount period. C. Discovered that 9,000 of the merchandise purchased in (A) was defective and returned items, receiving credit. D. Purchased 5,000 of merchandise from Schell Co. on account, terms n/30. E. Received a refund from Schell Co. for return in (C) less the purchase in (D).T2.
- dont give answer in image formatMerchandise purchased for resale.. • Freight In.. • Freight Out. • Purchased returns. Interest on inventory loan. What is the inventoriable cost of the purchase? Gamma Company provided the following information for the current year: .P 4,000,000 100,000 50,000 20,000 200,000 A. P4,280,000 В. Р4,030,000 С. Р4,080,000 D. P4,130,000Please answer MCQ not working required
- 6.2. Company pay VAT by the tax deduction method, accounting for inventories by perpetual inventory system, determination of price of inventories by FIFO method. Beginning balance: Acc 152: 10.000.000 VND (1000 units of A) Acc 153: 2.000.000 VND (100 units of T) During the period the following transactions occur: Requirement: Record transaction 1. Purchase 5.000 units of A on account, the price (excluded VAT) is 52 million VND, VAT rate at 10%. 2. Purchase 1.500 units of tool T with an invoiced price (with VAT) of 35.200.000 VND, VAT rate at 10%, pay by cash in bank. When checking before receiving, company find out some goods in bad quality. Company complain and ask for a purchase allowance. Three days later, seller accepted a 5% allowance of invoice price (with VAT) paid by cash on hand. 3. Issue 500 units of T from warehouse to be used for administrative purpose. They are estimated to be used up in 3 accounting periods. 4. Issue from warehouse 200 units of A for manufacturing. 5. A…a. 28 b. 116 c. 0 d. 56please dont provide answer in image format thank you
- 5-Ch 5 i Feb. 1 Purchased $16,900 of merchandise inventory; terms 3/10, n/30. 5 Purchased for cash $8,100 of merchandise inventory. 6 Purchased $21,900 of merchandise inventory; terms 1/15, n/45. Journalize each of the following transactions assuming a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 11 Paid for the merchandise purchased on February 1. 24 Paid for the office supplies purchased on February 9. Mar.23 Paid for the February 6 purchase. 9 Purchased $1,850 of office supplies; terms n/15. 10 Contacted a major supplier to place an order for $190,000 of merchandise in exchange for a 20% trade discount to be shipped on April 1 FOB destination. View transaction list Journal entry worksheet < 1 2 3 Date Feb 011 Note: Enter debts before credits 4 5 Record purchase of merchandise for $16,000; terms 1/10, r/30. 6 General Journal 7 8 Saved Debit Inmiddleware CreditTHRALL SUAVE Company made the following erron Denumber 31 Pox1 inventory was understated by P100,000 December 31, 20. mventory was overslated by P160.000 Purchases on account in Pox1 wewe understated by P400,000 (not included in physical no Nuvances to suppliers in 202 totalno 1*520 000 were inappropriately charged as purchas Dekabr 201 prepadansurance was overstated by P20,000 December 31, 20x1 unlesumed rent income was overstated by P104 000 December Box interest receivable was understated by 88,000 December 31, 20x2 accrued salaries payable was understated by P120,000 Ndvances from customers in 20x2 totaling 4240,000 were inappropnately recognized as Sales but the goods were delivered in 20x3 Depreciation expense in 20x1 was overstated by 128,800 lo Pox the acquisition cost of a delivery truck amounting to P360,000 was inappropriately charged as expenses . The delivery truck has a useful life of five years. THRALL'S policy is to provide a full years straight line depreciation in the…Please do not give solution in image format thanku