Accounting Question
Q: Gogola and Paglinawan have just formed a partnership. Gogola contributed cash of P1,260,000 and comp...
A: Given that: Cash contribution of Gogola = P12,60,000 Fair value of Computer = P360,000 Note payable...
Q: Looking for answers! Please include all the calculation for my reference. Thanks in advance.
A: Assumes that Financial ended on 31st December'2020 Interest Earned calculation Short...
Q: Question based on, "Adjusting entry". I have tried but stuck on it.
A: Given, Bonds of $440,000 are issued for $419,000 at a discount of $21,000. Annual Interest on Bond...
Q: 1. List down the all the sources of money you had, the exact amount and date you received it. SOURCE...
A: The solution for the given question is as follows
Q: 2. Paid P12,500 for the accessory This transaction involves stand you bought for Kikay Kit therefore...
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: A company had 15,000 shares outstanding at the beginning of the year. During the year, the company d...
A: Value of stock dividend = No. of shares outstanding x stock dividend rate x market price per stock ...
Q: Q B) Glenwood Speedway Company adjust at the end of each month. Prepare the adjustment entries requi...
A: s.no particulars Amount (Dr) Amount(Cr) 1 interest expenses A/c $3,000.00 To intere...
Q: 830,000 shares of no-par common stock were authorized; 150,000 shares were issued on January 1, 2019...
A: In the case of cumulative preference shareholders if they did not get the dividend in any financial ...
Q: QUESTION 15 A sales invoice included the following information: merechandise price, $12,000; terms 1...
A: The invoice is prepared for the amount due from customer with the discount and other terms.
Q: Sports Socks has a policy of always paying within the discount period and each of its suppliers prov...
A: Balance in accounts payable for January 31 = January purchases x 15% = $239,000 x 15% = $35,850
Q: The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070, 000 ...
A: Given, Shares issued = 1,310,000 shares Shares outstanding = 1,050,000 shares Par value = $2 par va...
Q: Q) Home Depot has issued Commercial paper with a face value of $100,000 maturing in 3 months. Invest...
A: Commercial paper is a generally utilized sort of unstable, transient obligation instrument gave by c...
Q: The following information has been taken from a taxable entity in Oman for the tax year 2019-2020 1....
A: We shall answer the first question since, the exact question wasn't specified. Please resubmit a ne...
Q: Let us assume that Mr. Amir starts a business called Amir Enterprises on 1st January, 202...
A: The accounting equation is written as : Assets = Liabilities + Owner's Equity
Q: Question based on, "Carrying value of bonds". I have tried it but unable to understand it.
A: Bonds are considered a financial instrument used to raise finance for the organization. It is also c...
Q: Question-based on, "find the amount". I have tried it but confused.
A: Given, Face value = $164,000 Issue price = $170,000 Premium on bonds payable = $170,000 - $164,000...
Q: Mariposa Manufacturing builds custom wooden cabinets, Mariposa Manufacturing has reported the follow...
A: Cost sheet is a method of allocating total cost into different categories such as direct material co...
Q: Question 3: Write Short Notes on the following. A: Book Keeping B: Need for Adjustment Entries C: ...
A: Since, you have specifically asked for three sub-parts. So, we will solve all the three parts for yo...
Q: Which journal entry is correct when there is a sale under a perpetual inventory and FOB shipping poi...
A: Solution- Accounts payable -------------------DR To Merchandise inventory. (To recor...
Q: A retail company recently completed a physical count of ending merchandise inventory to use in prepa...
A: In the given situation, the FOB shipping point inventory was correctly recorded in purchases and hen...
Q: ABC is a large company in Oman earned net profit of RO 360,000 in the tax year 2019. The company inc...
A: Taxable income = Net profit - setoff of carry forward losses* +- adjustments *In Oman, a company ...
Q: You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets....
A: d. Return on Total Assets EBIT/Average Assets* =2170000/16275000 =13.33% =1917000/14075000 =...
Q: Scenario Probability 0.27 0.45 0.28 Rate of Return -11% 7% 20% a) calculate the expected rate of ret...
A: The rate of return is expected on an asset or an asset portfolio. The expected rate of return is cal...
Q: help me to solve this problem please
A: Bad debts expense and Allowance for doubtful accounts are used to record the adjusting entry.
Q: On January 1, 2021, Mawi Co. issued 1,000, P4,000, 12%, 3 years bonds for P4,198,948. Principal is d...
A: Given :- Bond Face Value( 4000*1000) 4000000 Bond Issued at Premium 198948 Bond Issue Price ...
Q: Hello, can you help me in this problem of doing the horizontal analysis. below are the data. Horizon...
A: Below are the required horizontal analysis:
Q: Mariposa Manufacturing builds custom wooden cabinets, Mariposa Manufacturing has reported the follow...
A: Cost sheet is a method of allocating total cost into different categories such as direct material co...
Q: Alton Company produces metal belts. During the current month, the company incurred the following pro...
A: Product Cost are costs that are incurred to create a product. It includes the direct material cost ,...
Q: Parnell Company acquired construction equipment on January 1, 2020, at a cost of $77,400. The equipm...
A: Given information:
Q: Flounder Company reports the following costs and expenses in May. Factory utilities $16,000 Direct l...
A: Manufacturing overhead is the total amount of indirect materials, indirect labour and other indirect...
Q: Pardee Company plans to sell 12,000 units during the month of August. If the company has 2,500 units...
A: Production refers to the process of conversion of raw material to finished goods.
Q: A company has the following stockholders' equity accounts at December 31, 2020. Com...
A: The shares are issued by companies to invite the investors to invest into the business.
Q: Compute only acid test ratio
A: Meaning of Acid Test Ratio: - An acid ratio test, also known as a quick ratio / liquid ratio, measu...
Q: Jet Company's summarized financial statement information for the beginning of the year is as follows...
A: Final accounts: A final account is one in which we first create trading accounts, then a profit and ...
Q: Required information Skip to question [The following information applies to the questions displaye...
A: Solution- Number of common shares = Total Common share capital /par value of share Dividend per shar...
Q: Vocabulary Words: Rigorous- Safeguard- Frivolous- Exclusive- Envision- Expanse- Part 1 For each Voca...
A: Part 1: Rigorous-extremely thorough and careful.Safeguard-a measure taken to protect someone or some...
Q: On January 1, 202X, Anna Corporation acquires 60% of the equity capital of Papa Corporation. On this...
A: NOTE : As per BARTLEBY guidelines, when multiple sub parts are given, then first three sub parts are...
Q: A company issues GHS10 million of 6% bonds at a price of GHS100.50 for easch GHS100 nominal value wi...
A: A bond is a fixed-income security that indicates an investor's debt to a borrower.
Q: Assuming that a Nissan Car Manufacturing Company sold 100 cars to the wholesale trader for OMR 7,500...
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: On March 20, 2020, FineTouch Corporation purchased two machines at auction for a combined total cost...
A: Journal entries are passed following the golden rules of accounting. Debit all assets and expenses ...
Q: Bison Creek Company is preparing its annual profit plan. As part of its analysis of the cost of its ...
A: Given, Total estimated overhead = $250,000 Overhead rate = Total estimated overhead/Allocation ba...
Q: Arntson, Inc., manufactures and sells two products: Product R3 and Product N0. The annual production...
A: The first step is to determine the activity rate.
Q: On January 1, 2021, a company had 499,000 shares of common stock outstanding. During the year, it ha...
A: Weighted average number of shares outstanding is the average number of shares that are outstanding d...
Q: Question-based on, "effective-interest method bond". I have tried it but bonds are difficult.
A: Introduction: Bond discount: When the bond issued for less than face value called as bond discount.
Q: LOLITA COMPANY Lolita Company has the following information available for June 2020: Beginning Work ...
A: Solution: Introduction: Process Costing is a determination of cost for each process. It is mainly u...
Q: The data shown were obtained from the financial records of Italian Exports, Inc., for March: Esti...
A: Italian Exports Inc.'s for month of March are Estimated sales = $570000 Sales = $567921 The next mo...
Q: 2. Mashiho Company acquires 18% of Junkyu Company's stock for P700,000 cash and carries the investme...
A: Value of Goodwill under proportionate basis method = Purchase consideration paid - fair value of net...
Q: Question 2 : a company produces chemicals for large biotech companies. It has the following data fo ...
A: Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is...
Q: 1-a. Calculate this year's ending balance in Finished Goods inventory two ways—using variable costin...
A: The ending inventory under variable costing does not include fixed manufacturing overhead whereas, e...
Q: Goldfire Ltd. provided the following information in 2013-2014: 31.3.2012 Particulars Inventory Cost ...
A: Inventory Turnover Ratio It is a ratio which measures the number of times the inventory is sold in a...
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