Accounting Question
Q: Big Thumbs Company manufactures portable flash drives for computers. Big Thumbs incurs monthly depre...
A: Variable costs are those costs that keeps on changing with change in the production level. This mean...
Q: Lacy is a single taxpayer. In 2020, her taxable income is $43,800. What is her tax liability in each...
A: Capital gain tax is applied on the qualified dividend which is the earnings. These taxes are 0%, 15%...
Q: What is- Earnings per share? Dividend per share? Book Value per share? Cash Flow per share Images ...
A: Earning per share is profitability ratio which is calculated by total earnings divided by number of ...
Q: Q#04: Assume following transactions and record in accrued and cash form and record transaction appro...
A: Inventory: It refers to the items held by an organization which were in various forms like raw mater...
Q: At the beginning of the current tennis season, on April 1, 2014, KBT Shop’s inventory consisted of 5...
A: Perpetual inventory system records the sale and purchase of goods in inventory records as soon as th...
Q: 19 - Which Account Is Debited In Purchasing Commercial Goods. ?A) 320 Sellers AccountB) 391 Calculat...
A: Commercial goods are those finished goods that are used for selling to customers to earn margin pro...
Q: Johnson Company had the following balances on December 31, 2019: Cash in checking account ...
A: Cash and Cash equivalents = Cash + Treasury bills + Cash in money market + Postage stamps (petty cas...
Q: The Head of the Agency approves the establishment of a P30,000 petty cash fund. Here are the follo...
A: Petty cash is kind of source of cash fund which is used by businesses to make small amount payments ...
Q: 10) During 2020, Canadian resident Mark Forbes has calculated his Taxable Income to be $53,175. Calc...
A: The tax amount is determined by using the Canadian federal tax table for the year 2020. the tax tabl...
Q: I could use some help with this
A: Indirect production costs also called production overheads are those costs which are incurred inthe ...
Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will b...
A: PROMDI CO. acquired the net assets of CARDO CO and SYANO CO Purchase consideration of CARDO CO = 300...
Q: Required What are the Liquidity Ratios, Asset Management Ratios and Debt Management Ratios for the p...
A: Debt management ratio computes portion of operations of the company that comes by financing from ext...
Q: Cash Budget Harbour Inc. collects 25% of its sales on account in the month of the sale and 75% in th...
A: answer and calculations are given below
Q: On January 15, 2021, Marimar Company shipped 100 cellphone units to Sergio Company. The related ...
A: Entity's accounts receivable under the net method, at month-end: Accounts receivable recorded=100×P5...
Q: Richway Company owns 65% of the Highlands Company. On December 31, 2021, the last day of the accoun...
A: Non-controlling interest: Non-controlling interest can be defined as the position of the minority in...
Q: At a board meeting in June 2020, Yes Co’s directors made the decision to close down one of its facto...
A: Yes Co.'s in June 2020, Directors decided to close one of its factories by 30.09.2020 Of employees o...
Q: 14 - What is the name given to assets purchased to be used in operating activities for a year or lon...
A: a) Fixed assets is a long term asset that business owns and uses it in its operation to generate rev...
Q: Arrowhead Delivery Service is owned and operated by Gates Deeter. The following selected transaction...
A: Answer and calculations are given below
Q: 12 - I- Inventories II- Trade Receivables III- Stock Values IV- Future Months Income and Expense Acc...
A: Asset accounts records monetary information about the company resources. It includes current assets,...
Q: Calculate the total deviation and analyze it triangulated
A: Overhead Variance: It is the difference between the standard O/h and Actual O/h. It may be favorable...
Q: What are the steps involved in the preparation of Accounting bank Software? explain
A: The steps involved in the preparation of Accounting bank Software: Evaluate, plan and comprehend. D...
Q: A business's bank balance increased by $750,000 during its last financial year. During the same peri...
A: We have the following information: Increase in bank balance: $750,000 Issued shares of $1 million a...
Q: Use this information for Kellman Company to answer the questions that follow. The balance sheets a...
A: Particulars Year 2 Year 1 Preferred 9% stock, $100 par 100,000 100,000 Common stock, $1...
Q: Accounting for foreign currency - denominated receivables and payables - multiple years The accounts...
A:
Q: What are the Profitability Ratios for the periods 2019,2020 and 2021? What is it's Financial Perform...
A: Profitability ratios are the ratios that state the performance of the company as a percentage of pro...
Q: An expert answered the LIFO, FIFO and moving average. However, I need condensed explaination charts ...
A: In a perpetual inventory system, the accounting for inventory is done on sale or purchase of invento...
Q: Required information Skip to question [The following information applies to the questions displaye...
A: We have the following information: FICA Social Security taxes are 6.2% of the first $128,400 paid t...
Q: PLEASE ANSWER ALL THE QUESTIONS AND THE IMAGE ATTACHED 1. a bond is a liability of the issuing compa...
A: As posted multiple independent questions we are answering only first question kindly repost the unan...
Q: Arizona Corporation has $80,000 taxable income before a long-term capital loss of $12,000. If there ...
A: Short Term Capital Losses can be set off from the Long-term & Short-term Capital Gain. And howev...
Q: 7 - The percentage of profit obtained from the sale of a certain product within a period is called …...
A: Company makes sales of its products for the purpose of profit. For example, goods costing $10,000 ar...
Q: Reversing Entries Gimbel's Gifts and GadgetsEnd-of-Period SpreadsheetFor Year Ended December 31, ...
A: Adjusting entries:Adjusting entries can be defined as those journal entries that are being made at t...
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A: Journal entries for the assets and calculation of depreciation using straight-line method
Q: Entries for Factory Costs and Jobs Completed Old School Publishing Inc. began printing operations on...
A: a)If the Direct Materials are issued directly for purpose of job then work in process is debited and...
Q: CA4-7. (Comprehensive Income) Willie Nelson, Jr., controller for Jenkins Corporation, is preparin...
A: Income statement is the statement showing revenues and expenses which are incurred during a year. Th...
Q: If CARDO Co purchases the net assets of SYANO Co by issuing 4,000 shares of their P10 par value shar...
A: Consolidation is combination of assets, liabilities and other financial items of two or more entitie...
Q: The net profit percentage in a company is 12% and the asset turnover ratio is 2. What is the return ...
A: We have the following information: Net profit percentage: 12% Asset turnover ratio: 2
Q: Antique Buggy Corporation has 820,000 shares of $35 par common stock outstanding. On June 8, Antique...
A: Given: Outs standing share = 820,000 Stock dividend = 5% Market price on June 8 = $63
Q: CAIRNE issued 30,000 shares of P100 stated value in exchange for land and factory building with tota...
A: Equity shares are those shares which do not have preferential right on dividend and repayment of cap...
Q: 17 - THE CODE AND NAME OF THE ACCOUNT WILL BE DEBT 153 COMMERCIAL GOODS XXX 191 DEDUCTIBLE VAT XXX 1...
A: Commercial goods, checks given, deductible VAT are all accounts related to purchase of goods. Crates...
Q: Fiona is seriously injured in a car accident and sues the drunk driver who hit her. Frank, Fiona's l...
A: Gross Income:-In case of individual gross income includes all incomes from wages and salaries plus o...
Q: Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers...
A: PARTICULARS OCTOBER NOVEMBER DECEMBER Receipts from cash sales: Cash sales $133000 * 25% ...
Q: Calculate each of following ratios for year 2017 using the financial statement in Table 1-3. Inven...
A: Hi Student Since there are multiple sub parts, we will answer only first three subparts. If you wan...
Q: During the current year, Madisonreports AGI of $195,000. As part of some estate planning, she dona...
A: During 2019 year, Madison reports AGI = $195000 She donates to Alma mater, Autumn university = $1500...
Q: On December 31, 2020, Hunter X Hunter Company reported cash of P12,350,000 which comprised the follo...
A: Cash & cash equivalent is the most liquid asset of the company presented in the balance sheet wh...
Q: Ginobili Corp has the following information: Ending Beginning Inventory Inventory (12/31) Raw Materi...
A: Cost sheet is a method of allocating total cost into different categories such as direct material co...
Q: What are the Asset Management Ratios for the periods 2019,2020 and 2021? Images Attached
A: Average sales per day is computed by dividing net sales by 365. Inventory turnover is computed by di...
Q: Kimberly Payne and Arionna Maples decide to form a partnership by combining the assets of their sepa...
A:
Q: Can you help me with this one please
A: 1. Income P66,600 - Incentive to Mona P9,600 = P57,000 which is shared in ratio 1:2 Date Mona,...
Q: To be registered as a tax agent you need to meet the fit and proper person test. True or False
A: A tax agent means a person allowed in writing by the taxpayer to carry out, on his behalf and for hi...
Q: I could really use some help with this problem
A: Managerial Accounting is more of a decision making accounting done to account for the business trans...
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