Accounting Question
Q: answer needed ASAP Presented below is information related to copyrights owned by Wamser Corporation ...
A: a. Impairment of Copyright = carrying amount - Fair Value = $5,200,000 - $4,700,000 = $5,00,000
Q: Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1, 2022. The bonds were dated January 1...
A: Bonds are the instrument used in financial market as a debt instrument to borrow the fund from the m...
Q: In 2020, Geiger Co. sold equipment that had cost P294,000 for P176,400. This resulted in a gain of P...
A: Net book value of equipment sold = Sales value - gain on sale = P176,400 - P12,900 = P163,500 Accumu...
Q: a) The cash transactions and cash balances of XYZ, Inc., for December were as follows:1. The ledger ...
A: XYZ Inc. Bank Reconciliation or the month ending December 31 Particular Amount Amount Particulars...
Q: Assume that you have been engaged in an academic Research Project along with your Supervisor at univ...
A: Allow I to get ready ten open finished inquiries, these inquiries could be posed in the meeting of t...
Q: You have taken a long position in a call option on Google common stock. The option has an exercise p...
A: Intrinsic value = ($ 15) refer step 2 for explanation
Q: LC5Q4. Which of the following statements are NOT correct? Number of years the asset is expected to b...
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as d...
Q: APSco, a large electronics subcontractor for the Air Force, needs to immediately acquire 10 solderin...
A: Capitalized Cost-: A Capitalized Cost is an expenditure that is enlarged to the expense basis of a f...
Q: Prepare Two Columns Cash Book from the following transactions for the year 31 December 2019. (a)Cash...
A: A diary is associate degree itemized account that records all of the financial exchanges of a busine...
Q: Jay Limited is evaluating investment opportunities with similar expected returns, which will require...
A: 1.
Q: Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $148,000. The as...
A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate t...
Q: Shareholder's Equity Transactions and Statement of Financial Position Presentation. The Shareholders...
A: Solution: Journal entry is an accounting entry to record every transaction takes place in an organiz...
Q: Please answer the following
A: Total Costs = $ 80,000 Total Saddles produced = 5,000 Cost per Saddle = $ 80,0005,000 ...
Q: Why is it important for auditors to obtain control information over inventory count sheets or ticket...
A: Auditing inventory is the process of cross-checking financial records with physical inventory and re...
Q: A company had net sales of $660,000, total sales of $810,000, and an average accounts receivable of ...
A: Net Sales = $ 660,000 Average Accounts Receivables = $78,000
Q: Marigold Consulting uses the cash basis of accounting and a fiscal year ending December 31. Beginnin...
A: As per the cash basis of accounting, we should record the transaction only when corresponding cash i...
Q: 9. A Co-operative bank QLB grants loans under the following conditions. - (a) If customer has an acc...
A: “Since you have posted a multiple questions , we will solve second question for you . To get remaini...
Q: Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units,...
A: Given the following information: Tools-N-Time has a standard of 2 hours of labor per unit, at $12 p...
Q: You own a bakery which specializes in wedding cakes. You just recently took a course in Accounting ...
A: The balanced scorecard was created in 1992 by Robert S. Kaplan and David P. Norton as a way to ensur...
Q: Solve this question with steps. The subject is Managerial Accounting.
A: Equivalent Units of production Number of partially completed units is multiplied by the percentage ...
Q: The following data are given for Zoyza Company: Budgeted production (at 100% of normal capacity) ...
A: Standard hours for actual output=Standard hours allowed per completed unit×Actual production Factory...
Q: At the date of purchase, materials, equipment, facilities, and intangibles purchased from others tha...
A: If any material, equipment or facility which is expected to yield benefit to the entity for more tha...
Q: A recent income statement of Benton Corporation reported the following data: Sales revenue s 8,000,0...
A: Contribution Margin Per Unit Given in the question Units sold = 20,000 Sales Revenue = $8,000,000 Va...
Q: Why should a purchaser evaluate the cost of making an item instead of simply evaluating the purchase...
A: The make or buy decision of a product is an important determination process as making the correct de...
Q: AB Sdn. Bhd. (ABSB) is a manufacturer of superior basin, uses the First-In First-Out (FIFO) method i...
A: Ending inventory: It refers to the inventory that remains unsold at the end of the period.
Q: 1. Prepare schedules fore A. Expected collections from customers (25%) B. Expected payments for dire...
A: The first question is answered for you. Please resubmit specifying the question number you want answ...
Q: Orpheus Ltd has a Human Resource Department, an Administration Department and three Sales Department...
A: Allocation of cost implies allocating costs from one department to another. In step down method this...
Q: Alex (A), Bebeto (B), and Carol (C) decide to start a lawn mowing business together and form a partn...
A: CALCULATION OF RATIO OF THEIR INVESTMENT : INVESTMENT A = $105,000 , B = $175,000 , C = $280,000 AF...
Q: Which of the following budgets are prepared before the sales budget? Budgeted Direct Income Labor St...
A: The budget is prepared by the management based on experience. Based on the budget, It is helpful for...
Q: A new CNC machine has an installed with a cost basis of $35,000 and an estimated service life of se...
A: Formula: Rate of DDB Depreciation= 100%Usefull Life×2 Given: CNC machine $35,000 Service life 7 ...
Q: nuary 1, 2008, Grate Company (as lessc Barrell Company for machinery which v- 0,000 and had a market...
A: In the given question, Grate Company gives Barrell Company a machinery at $4,530,000 with the market...
Q: Question 2: A garment factory is facing recession. Its sunk cost are Rs. 50 lakhs per annum while th...
A: Sunk cost: It refers to the expenditure that has already been incurred and cannot be recovered.
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 150000...
A: The cash flow statement is an essential part of the financial statements of the organization. It is ...
Q: Problem 8.2 Pierre Dupont just received a cash gift from his grandfather. He plans to invest in a fi...
A: Current price=Annual coupon×Present value of annuity factor(8.63%,5)+$1,000×Present value of discoun...
Q: 57. What is the adjustment that must be made to taxable income in computing alternative minimum taxa...
A: Alternative Minimum Tax(AMT): AMT is computed on the adjusted total income in united states. Its rat...
Q: if someone can help me quickly i will give a thumbs up! :)
A: Manufacturing Overhead Budget This budget contains all manufacturing costs except direct materials ...
Q: 19
A: IAS(International Accounting Standard)-16 Property, Plant, and Equipment provide that whenever there...
Q: Consider the following two mutually exclusive projects: Year Cash Flow Cash Flow (X...
A: Please find the answers to the above questions below:
Q: Classics, Ltd., details cars. Classics wants to compare this quarter’s results with those for last q...
A: Part (a) Statement Showing Profit Variance Analysis Actual (523units) VariableCost Variance S...
Q: LC8Q3.Which of the following is a variable cost? Loan interest rate Salary Rent Salesperson s Commis...
A: A variable cost is a type of cost which changes in accordance to the change in the level of output.
Q: K Incorporation follows the Total quality Management (TQM) technique. While preparing a cost of qual...
A: Prevention Cost: Expenses incurred to prevent (keep failure and appraisal cost to a minimum) poor qu...
Q: Please assis with part G only 1. Briefly explain the impact of each of the following scenarios on ...
A: 1. BREAK EVEN POINT : = FIXED COST / CONTRIBUTION MARGIN PER UNIT 2. MARGIN OF SAFETY : = (BUDGET...
Q: On January 1, 20x1, the shareholders’ equity section of Splash Corporation’s statement of financial ...
A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be so...
Q: What are management’s responsibilities related to maintaining a transaction trail?
A: A transaction tail defines the sequence of evidences which helps in reconstruction of transaction pr...
Q: Solve this question with steps. The subject is Managerial Accounting
A: Budgeting: Budgeting is that the method of making a plan to pay your cash. Benefits of Budgeting M...
Q: In Able Company’s efforts to estimate a value for Baker Company's goodwill, Able is estimating Baker...
A: Goodwill means the reputation of the company due to any factor like location , product , price , aft...
Q: Question 3 Salt & Pepper & Co (Salt & Pepper) is a firm of Chartered Certified Account...
A: (a)..... (i) Steps to be taken prior to accepting the audit- 1. The firm should evaluate independenc...
Q: As stated in the direction answer 2,3,4 and 5
A: 2. Bought merchandise cash = P5000 Journal entry will be Purchases account(DEBIT) P5000 - Cas...
Q: Preparing a Production Budget Patrick Inc. makes industrial solvents. In the first 4 months of the c...
A: Patrick Inc. Production Budget For the Coming Quarter
Q: Kendra Company's standard labor cost of producing one unit of Product DD is 4 hours at the rate of $...
A: Total labor variance = Actual labor cost - Standard labor cost
Step by step
Solved in 2 steps