Accounting Question
Q: 5. XPac Sporting Goods Co. operates two divisions-the Winter Sports Division and the Summer Sports D...
A: Divisional income statement is a statement which shows the net profit or loss of each division durin...
Q: Feemster Corporation manufactures and sells a single product. The company uses units as the measure ...
A: Activity Variance - It is the difference between an actual cost or revenue and the cost or revenue i...
Q: Entity A issued a 12%, ₱500,000, one-year, note payable on July 1, 20x1. The principal and interest ...
A: Interest payable is the amount of interest expense which has already been incurred but has not been ...
Q: On June 1, 2018, the board of directors declared a $100,000 cash dividend to be distributed to commo...
A: Date Accounts Debit Credit June 1 Dividends 100,000 Dividends Payable 100,000 ...
Q: At the time of admission of a new partner in a firm, the value of furniture in the old balance sheet...
A: Normal Balance of Furniture is a Debit Balance. So to devalue the Furniture, it needs to be credited...
Q: On January 1, 20x1, Julius Company issued a three-year, 5,000 convertible bonds at face value of P1,...
A: Liability on the convertible debt is the present value of the future payments including interest and...
Q: Interpreting Relations among Cash Flows from Operating, Investing, and Financing Activities. Three y...
A:
Q: 43-From the options given below find out the end result of entire audit process O a. Gather audit e...
A: Audit process While conducting the Auditing work for the organisation there some process which helpf...
Q: Accounting Question
A: When in November 1, 1000*30=$30000 + $500 = $30500 And on December 31, the price has increased from ...
Q: Bade Midwifery's cost formula for its wages and salaries is $1,230 per month plus $240 per birth. Fo...
A: Variance analysis is an integral part of budgetary control which compares the actual performance of ...
Q: A corporation reported the following information at December 31, 2014: 12% cumulative, nonparticipat...
A: No. of common shares issued = Paid in Capital of Common Stock / par value per share = $50000/$2 = 25...
Q: Professional Fees Earned Budget for a Service Company Lundquist & Fretwell, CPAs, offer three ty...
A: Budget is an estimation of revenue and expenses which is made for a future period of time and it can...
Q: Canada Golf Club (CGC) is considering three independent projects for July 2021 tournament. The three...
A: Payback period: Payback period is the length of time in which an investment reaches its break-even p...
Q: common fixed expense
A: Total Income = Sales Revenue - Total Variable cost - Total Fixed cost It is pertinent to note that ...
Q: The following data were taken from the comparative balance sheet of Osborn Sisters Company for the y...
A: Working capital Current Assets - Current Liabilities Current ratio Current Assets / Current Liab...
Q: 1. On July 1, APPLE purchased a machine worth ₱21,000,000 subject to a 2% cash discount if paid with...
A: Note: No discount will be available since payment is made after 120 days.
Q: is the practice of selling a note receivable by the payee before the maturity date of the note. a. E...
A: Discounting refers to getting a bills of exchange paid before the date of maturity. The face value m...
Q: Castro and Falceso are partners who share profits and losses in a ratio of 2:3, respectively, and ha...
A: Partnership is a form of business which is established by two or more person. Partners shares the pr...
Q: 3. In divisional income statements prepared for Demopolis Company, the Payroll Department costs are ...
A: requirement 1 Residential Commercial Government Contract Total A number of payroll...
Q: The stockholders' equity section of Brent Corporation's balance sheet as of December 31, 2016 Stockh...
A: Common stock: These are the shares issued by a company to an outsider. These shares have a fixed per...
Q: Accounting Question
A: Equivalent units of production: The units moved to the next department or to finished goods during t...
Q: 7. Kamden has a deductible of $1,500. He damages his car in an accident and it will cost $3,900 to r...
A: Deductible is the amount you pay out of your pocket in case you make insurance claim.
Q: Situation Golf-Travel Inc. is a U.S. company that provides travel packages for individual golfers an...
A: GAAP GAAP is Generally Accepted Accounting Principles that set guidelines for financial statements. ...
Q: total cost function
A: We know that fixed cost remains constant irrespective of the level of activity and variable cost cha...
Q: 2. The sale of 100 shares of stock for $8,500 by the Sims Corporation is recorded as a credit to whi...
A: Given that - 100 shares of stocks sold for $8500 journal entry? if the sale is made at a price...
Q: he company has these parties of goods on hand: 10x1.000 TL; 20x900 TL; 10x800 TL; 10x700 TL. If 37 i...
A: Under LIFO method of Inventory valuation, most recent products added to a company's inventory is sol...
Q: 2. Allowance CR Bal. $7,539 at Dec. 31, 2016 At September 30, 2016, the accounts of Park Terrace M...
A: Allowance for doubtful debts: Under this method, the accounts receivable is shown at the gross amoun...
Q: During August, the drilling department of Arenal Inc. completed and transferred out 190,000 units. A...
A: Total equivalents units = No. of units completed and tranaferred + (Ending work in process inventory...
Q: The following information is taken from the books of All in the Family Center for the first quarter ...
A: Cost of goods sold: The cost of goods sold is the amount of money paid by a company to purchase or m...
Q: 7-Who among the following are primarily responsible for prevention and detection of frauds? a. Nom...
A: Fraud is term which is used when person or the management deliberately alters the data in the financ...
Q: Muscat company, reported the following results for January: Number of units 10,000 Selling price $10...
A: Merchandise used = Beginning Merchandise + Merchandise purchased - Ending Merchandise = $5000 + 5...
Q: A new CNC machine has an installed with a cost basis of $35,000 and an estimated service life of sev...
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as d...
Q: help me find how much would I save by waiting an additional week to obtain in the lean.
A: Given values: Borrow amount = $ 10000 Time period = 6 months Interest rates drop from 7 to 5.5 %
Q: The income statement comparison for Forklift Material Handling shows the income statement for the cu...
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...
Q: 24 Al Maha ceramic LLC is a leading company in Oman effectively using the cash. Being a financial an...
A: As per Liquidity concept there should be sufficient current assets in the company so that company ca...
Q: Accounting Question
A: Journal entries are prepared to record the financial and non-financial transactions of the business ...
Q: Aaron McKinney is a cost accountant for Majik Systems Inc. Martin Dodd, Vice President of Marketing,...
A: A cost accountant is a person in a business who is responsible for the recording of all the costs in...
Q: Business holds a 1-year N/R with a maturity value of 2.000 TL received from customer on May 1. The j...
A: Finance expense = face value of notes receivable x discount rate x no. of months/12 = 2000 x 6% x 4/...
Q: Sales to reach after-Tax Profit -5 pts Lockwood Company currently sells its deadbolt locks for $30 e...
A: Fixed cost:- In accounting, fixed cost is defined as the indirect cost that do not depends upon the...
Q: The following are the condensed balance sheets of G&N Partnership at August 30, 2016, at which d...
A: Partnership: A business entity formed with a mutual agreement between two or more persons for operat...
Q: Henry Josstick has just started his first accounting course and has prepared the following balance s...
A:
Q: 4. The income from operations and the amount of invested assets in each division of Beck Industries ...
A: Return on invetsment = Income from operations / Invested Assets
Q: 3) Estimate the compound interest along with principal payable in second year when amount of loan...
A: Given values : Principal = $ 10000 Interest rate = 8 % Time period = 2 years Compound interest.
Q: Depreciation is a valuation process that results in the report-ing of the fair value of the asset.” ...
A: Depreciation is a form of non-cash expenditure which represents the normal wear & tear and obsol...
Q: Accounting Question
A: Varible cost are those that remain fixed per unit because such costs are directly associated with th...
Q: 21-If the management's assessment to evaluate going concern basis of accounting covers less than twe...
A: Going Concern concept states that the business is expected to carry on its routine activities for th...
Q: The petty cash balance at 30 November 20X9 was $25. The following transactions occurred during the m...
A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc. ...
Q: the income statement for the curr Cash Furniture and equipment
A: 1 Depreciation accounted for on furniture and equipment Value of furniture and equipment ...
Q: How do I do this?
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: 1-What will be the total operating expense? a.41200 b.53200 c. 19700 d. 21500 2-What will be the...
A: Operating expense is defined as the expense which business make from its normal course of business o...
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