Accounting Question
Q: For the second mortgage application, calculate the percentage of appraised value and the potential c...
A: Percentage of appraised value (in $) = Appraised value * Lenders percentage potential credit (in $) ...
Q: 10. On January 1, 2021, Homestead Designs purchased some equipment for $19,600. The anticipated life...
A: Depreciation per unit under activity method = (Cost - Salvage value)/ Total expected units
Q: February Cost Analysis Determine the cost per unit of direct materials and for conversion for the mo...
A: The cost per unit is calculated as total cost divided by number of units.
Q: Steven Company uses a perpetual inventory system. It sells its product to customers for $60 per uni...
A: Solution: Introduction: Inventory Valuation Methods are generally used to determine the Cost of good...
Q: An agent bought a piece of land for RM900,000 on behalf of his principal. The agent knew that the ve...
A: The principal is the person who orders or gives work to the agent. Principal is responsible for all ...
Q: O'Brien Company is a manufacturer of purses. They sell products to Maureen, Inc., a women's clothing...
A: 1/10 net 30 It means buyers receive a 1% discount if the invoice amount due is paid within 10 day...
Q: Briefly explain the impact of each of the following scenarios on the break-even point and the margin...
A: The break even sales units are the sales where business earns no profit no loss during the period.
Q: Blossom Company was organized on January 1. During the first year of operations, the following plant...
A: Asset is a resource with economic value that a company owns which generates benefits in the future.
Q: Plummer Corporation has provided the following data for its two most recent years of operation: $ 44...
A: Absorption costing means that inventory is valued at total manufacturing cost including fixed manufa...
Q: please answer question 4 (part d) thank you.
A: Working: Annual payment (P) = $40,000 Number of years (n) = 10 years Rate of interest (r) = 10% =...
Q: Wildhorse Co. Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazi...
A: Workings: Subscription revenue in the first quarter of 2023: =8,400 subscriptions×$28 per year×312=$...
Q: Where on the income statement does a company report an unusual gain not expected to occur more often...
A: Income Statement Income Statement represents the financial performance for a particular accounting p...
Q: Ahmed and Wahid are partners sharing profits and losses in the ratio of 3:1. Their Balance sheet as ...
A: Revaluation of the account is mandatory when there is an admission of a new partner in the business....
Q: BTN Inc. reports operating expenses of $27,000. Its comparative balance sheet shows that accrued lia...
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the so...
Q: Multiple choice
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...
Q: The change in cash for the year can be calculated by comparing the balance of cash reported in this ...
A: Statement of cash flow: It refers to a financial statement that shows all the cash payments and rece...
Q: In the manufacture of 9,800 units of a product, direct materials cost incurred was $175,200, direct ...
A: Total conversion cost = Direct labor cost + Applied factory overhead Direct labor cost = $112,900 Ap...
Q: Equivalent Units of Production The Converting Department of Worley Company had 640 units in work in ...
A: To find Equivalent units = { Whole unit * % of completion }
Q: The freight terms on the June 2 transaction were F.O.B. destination. The freight (shipping) cost of ...
A: Free on Board (FOB) is a shipment term used to indicate whether the seller or the buyer is liable fo...
Q: How are budget variances calculated and used as performance measures? Provide numerical example?
A: budget is the predefined calculations that provide the plan of using the resources and generating in...
Q: Preferred stock has characteristics of both liabilities and stockholders’ equity. Convertible bonds ...
A: Here , we will discuss about liabilities and stockholders equity.
Q: The company estimates 1% of sales revenue should be used to estimate for bad debt expense. what is ...
A:
Q: as ti Ffee Shop. Gibraltar Coffee Shop is a nati offee shops. During her first month as st the follo...
A: I Disagree with Faith's method of handling this situation because she has not followed the internal ...
Q: 1. The Jason Knife Co. purchased a machine on January 1, 2021. The machine cost $495,000. It had an ...
A:
Q: The company’s total assets at year-end 2016 were CHF 131,900 million. What reasonable conclusions an...
A: The solvency, profitability, liquidity and efficiency of any company in the industry can be determin...
Q: Answer 1 to 4
A: Part 1) Amount Written Off As Bad Debts 35000 (15000 + 30000 -10000) Therefore, the corr...
Q: A sala set is costs P80,000. Its estimated scrap value is P5,000 after 10 years. Solve for the const...
A: Sinking fund method of depreciation includes the setting aside of a fund apart from computing the de...
Q: CASE 8-2 CNG Pipeline Company At the weekly brainstorming session, John Spychalski, president of o C...
A: 1) Considering the feasibility studies conducted by Evelyn Thomchick, chief strategy analyst to unde...
Q: Purchase discounts, freight in and receiving costs A. are used when setting a cost stand...
A: Purchase discounts, freight in, and receiving costs are considered as part of the cost of the materi...
Q: A prior period adjustment relates to the income of pastaccounting periods. Explain how such an item ...
A: Financial statements contain the accounting information of an organisation which is used by its user...
Q: plz solve !!!!
A: given that, date of bill = Jan 17 amount of bill = OMR275000 Bill term = 4 months discount rate =...
Q: Question 9 Suppose you need to accumulate GHȼ100,000 in 10 years. You plan to make a deposit in a ba...
A: The first step is the calculation of the real rate of return. The nominal rate of return is 6.00% an...
Q: Def ine overhead-related activity cost pools and provide several examples.
A: Activity cost pools are used in the managerial accounting method of activity based costing to assign...
Q: Gateway Communications is considering a project with an initial fixed asset cost of $2 million which...
A: Please check next step for solution:'
Q: A manufacturing company budgets sales of $70,000 during July. It pays sales commissions of 5% of sal...
A: Selling expenses: Sales commission (70000*5%) = 3500 Salary of sales manager ...
Q: Internal Rate of Return Method The internal rate of return method is used by Testerman Construction ...
A: The internal rate of return refers to a metric used in capital budgeting for measuring profitability...
Q: Identify the following as applying more to lean (L) or to traditional (T) businesses. Quality contro...
A: Lean business model: This model is used by business with lower cost and high quality grows rapidly.
Q: On July 1, 2020, Sunland Company invested $624,890 in a mine estimated to have 791,000 tons of ore o...
A: Journal entries refers to the systematic documentation of the financial transactions of a company in...
Q: The Clarke Co. acquired a machine on May 1, 2021, at a cost of $60,000. The machine is expected to h...
A: Date of acquiring: May 1, 2021 Cost: $ 60,000 Life: 10 years Residual Value: $5,000 Life (in units):...
Q: National Bank has several departments that occupy both floors of a two-story building. The departmen...
A: Cost should be allocated on the basis of cost drivers. For example, building depreciation on the bas...
Q: Crane Company issued $740,000, 10-year, 5% bonds at 103. Prepare the journal entry to record the s...
A: Date Particulars Debit Credit 1 Jan 2022 Cash (740000 x 103%) $762,200 To bonds Payable ...
Q: x Company reports the following pretax income (loss) for both book and tax purposes. Year. Pre...
A: PLEASE LIKE THE ANSWER YOUR RESPONSE MATTERS Date Account Titles and Explanation Debit Credit 2...
Q: Depreciation expense under the invenroty system is a. Based on cost minus residual value b. Basicall...
A: Depreciation = (Cost - Residual value) / Life of asset
Q: Adom Company uses a standard cost system for its production process and applies overhead based on di...
A: Variable overhead cost variance = Standard cost - Actual cost Variable overhead Spending variance = ...
Q: El1.11 (LO 3) Ramirez Company has the following data for the weekly payroll ending January 31. Feder...
A: Employee Total Hours Hourly Rate Overtime Rate L Helton 46 $ 14.00 $ 21.00 R Ke...
Q: 133 Equivalent Units of Production: weighted average method The Converting Department of Tender Soft...
A: a. Number of whole units to be accounted for and to be assigned costs for the period = Units transfe...
Q: journalize the selected transacations: Jan. 3 Issued 15,000 shares of $20 par common stock a...
A: Journal Entries is the primary entry in the books of the business.
Q: Note: this is not an assignment question. Help me urgent
A: Cost benefit analysis: It is the technique that is used to compare the project cost and benefits ass...
Q: Classify the accounts as either an asset (A), liability (L), or equity (EQ) account. Prepaid Insuran...
A: Owners’ equity: It is a owner's value and amount invested by an individual in the firm. It is calcu...
Q: The monetary units was measured by------ Select one: a. None of the other points b. Money Income c. ...
A: According to Money measurement concept the fact that in accounts and economics , every recorded tran...
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