Accounting Question
Q: Question 2 The following Trial Balance is extracted from the books of FW Sdn Bhd as at 31 December 2...
A: Working notes:- Debentures interest 10% on RM 30,000 = 3000 ...
Q: calculate the cost of ending inventory using the FIFO costing method:
A: Under the FIFO method of inventory costing it is assumed that the first goods purchased are also the...
Q: ABC Corporation purchased a business for P20,000,000 cash. The assets and liabilities of the acquire...
A: Goodwill means the reputation of the company due to any factor like location , product , price , aft...
Q: A production department has a budgeted production overheads of $180,000 and budgeted activity of 45,...
A: The overheads are said to be overapplied, if applied overheads are more than the actual overheads.
Q: Martinez Company's relevant range of production is 7.500 units to 12,500 units. When it produces and...
A: Formula: Total manufacturing cost=Variable manufacturing overhead per unit×Number of units produced+...
Q: On March 1, Derby Corporation (a U.S.-based company) expects to order merchandise from a supplier in...
A: Cost of goods sold = forward contract rate - foreign exchange loss
Q: (b) The budgeting section of-the corporate finance department of Atlas Products Company has received...
A: Cash Budget Worksheet December January February March Budget of receipts from sales...
Q: Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the following transactions ...
A: The company's transactions will be tracked, and the first book to record these transactions is the j...
Q: MCEACP684 Company has a Components Division which produces parts for product divisions within the co...
A: If the Component Divison has to reduce the outside sales by 18% then the contribution lost on such s...
Q: On January 1, 20x1, Dagul Co. acquired 10%, P4,000,000 bonds for P3,807,853. The principal is due on...
A: A bond is a fixed pay instrument issued to represents to an advance made by a financial specialist t...
Q: Income statement information for Einsworth Corporation follows: Sales $285,000 Cost of goods sold 94...
A: Cost of goods sold % = Cost of goods sold / Sales = 94,050/285,000 = 33% Gross profit % = Gross prof...
Q: ICE ACTIVITY 1 The following information is taken from thế books of BM Tradérs: Bank Reconciliation ...
A: All amounts are in RM.
Q: Bonita Company manufactures a product with a unit variable cost of $43 and a unit sales price of $75...
A: If the special order is covered under the present capacity of the business then it will not attract ...
Q: On July 1, 2011, Pinkley Company sells office furmiture for e90,000 cash. The office furniture origi...
A: Depreciation expense under the straight-line method will be calculated by dividing the difference be...
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: Recording Seven Typical Adjusting Entries Dittman’s Variety Store is completing the accounting proce...
A: Accrued expense represents the liability that states that the payment for the expenses has not been ...
Q: A machine that cost $770,000 has an estimated residual value of $70,000 and an estimated useful life...
A: Answer - Given, Cost of equipment = $77000 Salvage Value =70000 Life of the Asset. = 7 year ...
Q: Orange County Inc. sells its only product for $5 per unit. The variable cost per unit is $3 and the ...
A: Required sales in dollars= (fixed cost + desired profit)/contribution margin ratio
Q: Venus Corp. sold goods, with a selling price of $18,421, for cash. The state sales tax rate is 8%. W...
A:
Q: Compute (a) the margin of safety in dollars and (b) the margin of safety ratio with the given detail...
A: Margin of safety can termed as an difference between the sales of an product and break-even sales.
Q: 1. A plant asset purchased for $500,000 has an estimated life of 10 years and a residual value of $2...
A: This question deals with the concept of depreciation. Depreciation is a reduction in value of asset ...
Q: Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $1,089,000 P...
A: This question deals with the calculation of earning per share on common stock and price earning rati...
Q: Arnold is single and has two children in college. Maureen is a sophomore, and Rick is a junior both ...
A: The following expenses shall not be included under qualified education expenses: Room and board Ins...
Q: A partnership is relatively easy to form but also easy to dissolve.
A: The partnership formation is relatively easy as the registration of the firm is not compulsory. al...
Q: On the audit of Megna Ltd. the audit partner on the engagement set the preliminary level of audit ma...
A: The management of the company is the main responsible for preparing the financial statements which m...
Q: What is budget
A: Management accounting is the one whereby the statements for the internal decision making are prepare...
Q: Blossom Inc. had sales of $2,300,000 for the first quarter of 2020. In making the sales, the company...
A: CVP analysis is known as a decision-making tool that helps management to make strategies and take wi...
Q: Indicom Ltd presents the following information with a product: Standard level of consumption of i...
A: Standard costing was used to measure the performance of an activity by making an comparison between ...
Q: One of the most important structural changes affecting the banking community in Ghana is the drive t...
A: The drive forward into consolidation within the banking industry in Ghana has become a much required...
Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days f...
A: Finance charge refers to the amount that is billed to the card account if the previous month’s total...
Q: Accounting Question
A: Journal entries is the primary reporting of the transactions in the books of an entity.
Q: A company reports the following income statement and balance sheet information for the current year:...
A: Return on total assets = net income/ average total assets.
Q: ICE ACTIVITY 1 The following information is taken from thể books of BM Traders: Bank Reconciliation ...
A: All amounts are in RM.
Q: QUESTION 2 NAK Consult Ltd is a construction company with many contracts being executed concurrently...
A: Internal Control - It is a process which is set up to support the general workings of the organisati...
Q: Accounting Question
A: Journal entry refers to recording and classifying business transactions initially into books of acco...
Q: ou are the plant accountant for a company that makes a popular brand of basketball shoes. Currently,...
A: Break even sales volume refers the sales volume that needs to be achieved to cover the fixed cost ex...
Q: Virginia Day owns a 5 percent limited partnership interest in Zulu Limited Partners. In Year 4 the p...
A: 1] Year 4 loss suspended due to tax basis limitation Ans : A loss suspended due to ta...
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: This clause, typically found in a loan agreement, permits the holder to declare the entire amount of...
A: The correct option is acceleration clause .
Q: Calculate the missing information. Round dollars to the nearest cent and percents to the nearest ten...
A: Mark down% = (Amount of mark down/original selling price) ×100
Q: 11. If you would like to have $500,000 set aside in 40 years, assuming a 4% annual rate of return, h...
A: Formula to be used: FV of annuity=P1+rn-1rWhere,FV = $500,000r=0.0412=0.003333n= 40yr×12=480
Q: Indigo Corporation owns shares of Raccoon Company that are classified as part of Indigo's trading po...
A: Change in fair value is recognized as unrealized gain or loss
Q: A machinery worth Rs 30,000 has a lifetime of 10 years and a salvage value of Rs. 1800. Calculate th...
A: With the passage of time, the value of assets goes on decreasing due to various reasons such as norm...
Q: The cash account in ABC Co.’s ledger showed a balance at December 31, 2020 of P 4,415,000 which was ...
A: The line item on the balance sheet that reflects the amount of a corporation's assets which are cash...
Q: Use the following time value of money tables for Questions 1-4. Round answers to the nearest dollar....
A: Annuity table is used when the amount is deposited after a regular period for a fixed period.
Q: QUESTION 1 A) By way of an example , state the difference between an “Exempt supply and a “Zero -ra...
A: "Since you have asked multiple question we will solve the first question for you. If you want any s...
Q: On January 1, 20x1, Dagul Co. acquired 10%, P4,000,000 bonds for P3,807,853. The principal is due on...
A:
Q: Sugarcane Manufacturers experienced an explosion at their plant in the early hours of the morning of...
A: Requirements of Accounting: "Events After the Reporting Period," according to IAS-10. This section ...
Q: Kendall and Sebastian form Party Inc., a C-Corporation. Sebastian transfers land (FMV $200,000 and a...
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...
Q: Health for All (“H4A”) is launching a new innovative hand sanitizer. However, due to intense researc...
A: This question require us to calculate variable cost of producing the bottle and total fixed producti...
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