Accounting Question
Q: Which technology is the most important when it comes to business? Explain
A: The engine of economy is termed as business. The primary role of business is to provide a medium to ...
Q: TV’s R Yours is advertising a deal, in which you buy a flat screen TV/entertainment package for $1,2...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...
Q: Renton company is reviewing the results of its production during the most recent fiscal year. Due to...
A:
Q: Platinum Corporation gathered the ff. data for its maintenance costs: Units produced 100,000 90,000 ...
A: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units - ...
Q: fund drive raised 185,000 in cash and 100,000 in pledges that will be paid within one year. A state ...
A: Journal entries refer to the process of systematically documenting the financial transactions of a c...
Q: For each class of provision, an entity shall disclose except * O unused amounts reversed during the ...
A: For each class of provision, an entity shall disclose the following :- Unused amounts reversed duri...
Q: 1-24 A couple of entrepreneurial business students at State University decided to put their educatio...
A: In order to determine the Break-even point, the fixed cost is required to be divided by the contribu...
Q: On December 31, 2021, Utilities expense for the year as appropriately reported in the statement of c...
A: The adjustment entries are prepared to adjust the revenues and expenses of the current period.
Q: .CVN Services purchased a 1-year insurance policy on Marr h 1, 2020 for 240,000. The amount of prepa...
A: Prepaid insurance is the amount of insurance that is not yet due but has already been paid.
Q: Kikiam Company sells equipment service contracts that cover a two-year period. The sales price of ea...
A: The question is based on the concept of Finacial Accounting.
Q: How much should be the adjusted Cash in Bank balance as of December 31, 2020? The December 31, 2020 ...
A: Answer: Cash equivalents are the total value of cash on hand that includes items that are similar to...
Q: Mattress King determined its return on assets was 1.5%. Which statement is true? O Mattress King gen...
A: Formula: ROA = Net Income / Average Total Assets.
Q: 1. Accounting Equation Transactions: 1. Jada B invested $800,000 in cash to start up his company. 2....
A: 1. Accounting Equation - Accounting Equation is calculated using following equation - Assets = Liabi...
Q: e accrued interest income
A: Interest on note = Amount of note * Interest rate * Number of months elapsed/Number of months in a y...
Q: Compute the following:
A: Answer: Particulars Book Value Fair Market Value Fully secured creditors P 60,000 Partiall...
Q: 2.A certain loan was to be amortized based on the schedule below at 15% interest. What is the equiva...
A: Solution : Let us first find the net present value of the year end payment using 15% interest rate ...
Q: P50,000 What is its ending retained earnings balance?
A: Retained earnings are the amount of money a company has left over after all of its obligations have ...
Q: Bramble Incasements manufactures protective cases for MP3 players. During November, the company's wo...
A: Standard wages rate = actual wages rate + less than the standard wages rate = $9.06 + 0.54 = $9.60
Q: On April 1, 2021, DG Corporation purchased an equipment with cost of P150,000. The company estimate ...
A: From April 1, 2021 to December 31, 2021 = 9 months Depreciation on equipment will be charged for 9 m...
Q: SquidGame Inc. presented the following information regarding its two divisions classified as investm...
A: ROI in long terms stands for Rate of Interest. Basically ROI is charged on a amount which can be loa...
Q: 18. The following information is available for electricity costs for the last six months of the year...
A: High low method is a method of cost estimation in which variable cost per unit and total fixed costs...
Q: NN Company operates on a 6-day week, with time and one-quarter for all hours over eight during the r...
A: Since you have asked a multiple question, we will solve the first question for you.If you want any s...
Q: What is the total factory overhead costs incurred by Personal Protective Gears & More during the per...
A: Factory Overhead costs are the amount of indirect expenses and costs that are incurred in the factor...
Q: In case of payment of convertible bonds, the balance of Share Premium - Conversion Privilege account...
A: A bond is a fixed pay instrument issued to represents to an advance made by a financial specialist t...
Q: In an equity swap where a liability is settled through the issuance of equity securities A.no gain ...
A: According to IFRS the financial liability is renegotiated and the equity is issued to a creditor in ...
Q: Which of the following statements is false? 1. An income statement reports revenues earned less ex...
A: 1. An income statement reports revenues earned less expenses incurred. The income statement shows th...
Q: Numbers and descriptions match what really existed or happened. Economic entity assumption ...
A: Common standards or guidelines for accounting financial transactions and generating financial statem...
Q: iaz Company issued $107,000 face value of bonds on January 1, Year 1. The bonds had a 7 percent stat...
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: he partnership’s net assets. Cash settlement is to be made between the partners. How much is the cas...
A: Admission of Partner For the admission of partner the admitted partner can bring the capital in form...
Q: Concept check. Use the following question set for prectice. For each transaction, tell whether the a...
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production,...
A: Hi student Since there are multiple subparts, but as per the requirements of the question, we will a...
Q: From the given data below, how much is the final tax on the dividend earned by Cruz? ZAX Corporation...
A: solution : we are required to calculate final tax on dividend earned by cruz total dividend declared...
Q: In 2020, Eastern Appliance Manufacturing introduced a fully automatic washing machine with dryer. Th...
A: Warranty means where the company is undertaking to make good the loss which has been incurred due to...
Q: Siomai Company estimates its annual warranty expense as 2% of annual net sales. The following data r...
A: 1. Warranty Expense = 2% of Net sales Net sales = 3,200,000 Warranty expense = 3,200,000 x 2% =...
Q: Modern Manufacturing shows cost of goods sold for the month of March was 180,000. The finished goods...
A: Calculation of cost of goods manufactured(COGM): Cost of goods sold(COGS) = Beginning inventory ...
Q: Long-Term Liabilities
A: [Note: Since you have posted a multi-part question, we will solve the 3 required parts. For the rema...
Q: Which of the following does not meet the definition O the signing of a cancellable contract for purc...
A: Solution: "The signing of a cancellable contract for purchase commitment" does not meet the definiti...
Q: Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall...
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...
Q: Peter Senen Corp has the following data for the fourth week of March: ...
A: Classification of total hours worked into regular hours , overtime hours and hours worked on Sunday ...
Q: Putra and Junior opened a new photocopy centre. It was agreed that Putra would manage the operations...
A: Partnership refers to the legal form of act between two or more partners who mutually agree to run t...
Q: Question 2 The financial statements of Avartar Sdn. Bhd., a limited company, for the years ended 31 ...
A: Since we answer upto three sub-parts we shall answer first three. Please resubmit a new question, st...
Q: following is considered as gross income for taxation purposes: Proceeds of loan from a bank @ 7% int...
A: GROSS INCOME FOR TAXATION PURPOSE: Gross income refers to the total income earned by an individual o...
Q: If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this repo...
A: Introduction: Dividends: Dividends are shareholders funds. Dividends are part of profits.
Q: You received $5,000 in interest revenue during the year. Your federal marginal tax rate was 26% and ...
A: Formula: Federal income tax amount = Interest revenue x federal marginal tax rate
Q: You are offered two different sales jobs. The first company offers a straight commission of 4% of th...
A: Here we should find indifferent point. That is sales at which commission offered from both companie...
Q: Horus Company provided for doubtful accounts expense monthly at 3%of credit sales. The balance in th...
A: Working note: Computation of required balance of allowance for doubtful accounts December 31, 2019:
Q: Siomai Corp. sells gift certificates redeemable only when merchandise is purchased. The certificates...
A: Unearned revenues are those revenues which are received in advance but not yet earned by the busines...
Q: For the most recent quarter, Baffle company had an after-tax profit of $62,720 from sales of 225,000...
A: Given: Sales Less: Variable cost (60% of Sales) Contribution margin (40% of S...
Q: On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common stock at $12 per share. On Au...
A: The question s based on the concept of Financial Accounting.
Q: Given (all accounts are in their respective normal balances): • Asset - P3,500,000 • Liabilities - P...
A: A debit balance is an account balance in which the left side of the account has a positive amount. A...
The earnings per share is calculated as net income divided by number of outstanding shares.
Step by step
Solved in 2 steps
