Accounting Question
Q: The Bookkeeper for Ogles Company asks you to prepare the following accrued adjusting entries at Dece...
A: Journal entries are used to record transactions of the business during its operations, where it invo...
Q: MC20 sit true that the trial balance totak should agree? A No, there are sometimes good reasons why ...
A: ‘’Since you have asked multiple question, we will solve the first question for you. If you want any ...
Q: MODIFIED MATCHING TYPE: From the line items in a box, prepare a pro-forma statement of cash flows. C...
A: The cash flow statement consist of three activities. These are; Operating Activities: These are the ...
Q: A second dealer buys a used fridge from a non-vendor for NAD 600 for resale. He pays the person NAD ...
A: Notional vat amount can be claimed on the purchase consideration but limit upto the purchase price p...
Q: 1. State 5 causes for depreciation? 2. Under straight line method, the amount of depreciation will...
A: Depreciation is an method of accounting, as the assets gone through wear and tear over the period wh...
Q: Accounts Name Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credi...
A: Accounting's goals include keeping a systematic record of all financial transactions in a book of ac...
Q: Love Company reported the follówing to cash on December 31, 2020: Checkbook balance, P4,000,000. * U...
A: Cash balance refers to the desired sum of money present in the account, it is computed by adding up ...
Q: For you to advance your learning and understanding of the Statement of Financial Position, you have ...
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net...
Q: Kansas Enterprises purchased equipment for $80,500 on January 1, 2021. The equipment is expected to ...
A: Depreciation = 2* straight line depreciation % * book value at the beginning straight line deprecia...
Q: Accounting Question
A: 1. Calculation of Amount of Net Pay CALCULATIONS PARTICULAR AMOUNT A Gross Wages 70,0...
Q: On January 1 20--, William purchased office equipment that cost 18000. It has an expected useful lif...
A: Book Value:- It is the difference between Original cost of the asset and accumulated depreciation.
Q: Zachary owns a successful furniture distribution store. He purchases dining tab sets at $230 each fr...
A: Regulat selling price = cost price × 120%
Q: 1.On December 31, 2012, the shareholders’ equity of Aganon Inc. was as follows: Ordinary Shares, pa...
A: A stock dividend seems to be a dividend payment given in the format of shares instead of cash, which...
Q: e Of Healthcare Finance Briefly Define: Strategic valu
A: Health financing is a core function of health systems frameworks that can empower progress towards g...
Q: Deton pen Manufacturers sales= $980,000 cost of goods sold represented 64 percent of sales. Sellin...
A: Net income of an firm can be calculated by subtracting the cost of goods sold and other expenses lik...
Q: province 500,000 con and 20,000 preferred shares. Listed below are selected accounts from the genera...
A: The shareholders equity section shows the total equity relating to shareholders.
Q: Kitty works in the payroll division of Ludlow Ltd. When preparing the weekly payroll summary, she fo...
A: Review of operational performance means identifying the levels at which all business functions can b...
Q: Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; A...
A: This question deals with the preparation of stockholder equity section for the month ended October. ...
Q: Lancaster Inc produces portable radios. It requires 4 units of Part AC3 in order to manufacture the ...
A: Variances - It refers to a process of finding out reason for difference in the predetermined financi...
Q: Belton, Inc. had the following transactions in 2018, its first year of operations: Issued 37,000 sha...
A: The total paid-in capital will be calculated by multiplying the shares issued by the company by the ...
Q: Accounting Question
A: Profit /loss= markup-Expenses
Q: Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the following transactions ...
A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...
Q: Puget Sound Divers is a company that provides diving services such as underwater ship repairs to cli...
A: The company's transactions will be tracked, and the first book to record these transactions is the j...
Q: You have been assigned to review the payment system of an enterprise. The finance director suspects ...
A: Five control procedures that can eliminate duplicate payments: Double-check for miskeying and misre...
Q: The information given below has been taken from the costing records of an industry in respect of job...
A: All amounts are in (TK) currency.
Q: Chair Leader Co. purchased a patent on January 1, 20x3 for P120,000. The patent had a remaining usef...
A: Yearly Amortization Expense = Cost of asset - Residual value useful life of asset Amortiza...
Q: 1) Prepare a bank reconciliation dated December 31, 2020, for Welcome Inc. based on the following in...
A: Here credit memo should be added back to balance as per books
Q: What is budget
A: Management accounting is the one whereby the statements for the internal decision making are prepare...
Q: Karen Co. purchased the following equity securities on January 1, 20x1 for a total amount of P360.00...
A: As per IFRS If investment in equity shares other than those held for trading is measured at Fair...
Q: Required: Journalize the entries to record the summarized operations. For a compound transaction, i...
A: A journal entry records business transactions in the accounting system for an entity.
Q: xplain with examples the qualitative characteristics of financial statement that would made itcredib...
A: The primary aim of financial statements seems to be to inform stakeholders regarding their corporati...
Q: 19 Michael, a resident taxpayer, received salary and wages income of $26,000 and a franked dividend ...
A: Given : Salary and wages = $26,000 Franked Dividend = $9,800 Franking credits = $4,200 (PAYG) insta...
Q: During the year ended 30 June 2019 Michael, a resident taxpayer, received salary and wages income of...
A: Salary and wages = $26,000 Franked dividend = $9,800 Franking credits = $4,200 PAYG instalments with...
Q: 8) On December 31, 2020, James Company has an accounts receivable balance of $324,000 before any yea...
A: Uncollectible Account Expense = Required Allowance - Beginning Balance
Q: If a company has 2240 million shares outstanding and each share is worth AUD 3.60 the market capital...
A: Shares outstanding will be all of a company's shares that have already been approved, issued, and ac...
Q: Greener Pastures Corporation borrowed $1,750,000 on November 1, 2018. The note carried a 12 percent ...
A: Introduction: Accounting equation: Assets = Liabilities + shareholders equity. Sum of liabilities an...
Q: Journalize the following transactions into the general journal in accordance with the rules of Journ...
A: Solution:- Preparation journal entries using double entry system as follows under:-
Q: Kelchner Corporation has provided the following contribution format income statement. Assume that th...
A: Contribution margin ratio = contribution margin / sales
Q: Retailers that accept credit cards pay a “swipe fee” to credit-card issuers such as Visa and Masterc...
A: Surcharge is defined as the extra or additional charge or tax which is added to the cost of the good...
Q: a) ISA 230 Audit Documentation contains the following statement with regard to working papers: Audit...
A: Audit is the inspection of records of financial statements whether it has presented a true and fair ...
Q: s Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas...
A: The variance is the difference between the actual data and standard output.
Q: Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 share...
A: In order to determine the earning available to the equity shareholders, the preferred dividend is re...
Q: SECTION A Actual data Answer ALL the questions in this section. Direct materials 65 000 kg @ R13 per...
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: 23.A merchant makes an implied warranty of merchantability every time he or she sells goods(unless t...
A: Merchantable means marketable or sellable , it means goods are in such a condition that it is ready ...
Q: Identify fraud risk factors or red flags.
A: The various fraud risk factors or red flags are: Inventory shrinkage: While it's natural to lose a f...
Q: If this company’s stockturn rate was 3.5 last year, is the stockturn rate calculated in the previous...
A: Stock turn rate is the ratio which states that how many times the average amount of inventory is sol...
Q: All of the following are true about 2021 distributions and contributions to Section 529 plans EXCEPT...
A: Sec 529 plans is a plan in which tax on your money is deferred until you withdraw the money. It is s...
Q: Bank Charged OMR 15 as bank charges to Mundher for replacing his lost credit card. Journalize the tr...
A: The company's transactions will be tracked, and the first book to record these transactions is the j...
Q: Articulate when and how to report actual or suspected fraud
A: A fraud is when the actual activity or transaction differs from the stated or recorded transaction h...
Q: Which statement is TRUE regarding claiming the Residential Energy Efficient Property Credit for 2020...
A: To claim or figure out Residential Energy Efficient Property Credit Form 5695 can be used. The perso...
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