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: 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: 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: 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: 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: Answer 1 to 4

A: Part 1)  Amount Written Off As Bad Debts 35000 (15000 + 30000 -10000)    Therefore, the corr...

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: 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: 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: 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.