Accounting Question
Q: If a firm's expenses equal or exceed its revenue, what actions might management take?
A: Every business enterprise wants to satisfy their customer's needs and earning the maximum profit. Bu...
Q: Internal Rate of Return A project is estimated to cost $507,840 and provide annual net cash flows of...
A: At IRR Net present value is zero. It means At IRR present value of cash inflows is equal to initi...
Q: At the beginning of the current year, Stone Corporation reported the following balances: Land 5,200,...
A: Cost of land: The cost of property, plant and equipment comprises the asset's acquisition price as w...
Q: Enter Sandman Co. purchased manufacturing equipment from Sad But True Co. on January 1, 20x8 at a to...
A: Here major inspection is incurred during useful life of equipment.Thus those costs are to be depre...
Q: Bianca investments is a company owned by Bianca McGhuru CA(NAM) and it operates in the logistics ind...
A: Here the problems which are persisted on reporting the purchase of the vehicle by the Bianca investm...
Q: Crane Co. has variable manufacturing costs per unit of $40, and fixed manufacturing cost per unit of...
A: These are the decision-making tools used in CVP analysis. It helps the management to make strategies...
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: A company monitored the cost of its product inspection for 8 years. The costs were AED 100 per year ...
A: The present value is calculated by adding the cost of each year.
Q: A second dealer buys a used fridge from a non-vendor for NAD 600 for resale. He pays the person NAD ...
A: Notional vat amount can be claimed on the purchase consideration but limit upto the purchase price p...
Q: You are the plant accountant for a company that makes a popular brand of basketball shoes. Currently...
A: Break-even point is computed by dividing the total fixed cost by the contribution per unit.
Q: Electric bill for a hen house on a chicken farm a.Direct Material b.Direct Labor c.Overhead d. perio...
A: Overhead is the indirect cost incurred .It is not directly related to production of final product...
Q: Identify the following items into capital or revenue expenditures. (a) Audit fees paid amounts to R...
A: Capital expenditure was an expense which was spent to maintain or buy an asset. Revenue expenditure ...
Q: Question 2 Macy Berhad has issued share capital of 5,000,000 ordinary shares at a price of RM0.50 ...
A: 1. Journal Entries PARTICULAR DEBIT CREDIT Retained Earning 149,000 To ...
Q: Crane’s unit production cost under variable costing is $22, and $29 under absorption costing. Net in...
A: The income statement is prepared to estimate the net income or loss incurred during the period.
Q: A company is considering starting a new product line. The new product line requires the installation...
A: A bond seems to be a financial instrument that represents the bond issuer's commitment to the bondho...
Q: Ann's car has been repossessed by Bob Finance without any notice after Ann defaulted on two consecut...
A: Hire purchase is a method of purchasing high-priced consumer items in which the buyer pays security ...
Q: Ue the information provided balow to prepare the following for March and April 2022: 4.1 þettors Col...
A: 1. Debtors Collection Schedule PARTICULAR JAN FEB MARCH APRIL Cash sales Sales-10% 91,800 1...
Q: Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contributio...
A: Break even sales in units= Fixed cost/contribution margin per unit (weighted)
Q: Dividends Per Share Oceanic Company has 15,000 shares of cumulative preferred 1% stock, $100 par and...
A: Solution:- 1) Calculation of Dividend per share for Preferred and Common stock for 3 years as follow...
Q: Puget Sound Divers is a company that provides diving services such as underwater ship repairs to cli...
A: The company's transactions will be tracked, and the first book to record these transactions is the j...
Q: Kelchner Corporation has provided the following contribution format income statement. Assume that th...
A: Contribution margin ratio = contribution margin / sales
Q: Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the following transactions ...
A: Introduction: Trial Balance: To check the arithmetical accuracy of ledger postings trial balance is ...
Q: Consider the balance-of-payments accounting the table below. All values are in billions of dollars a...
A: The export represents the capital inflow whereas, the import represents the capital outflow.
Q: Great Cosmetics Corp., a company reporting under IFRS, has a defined benefit pension plan. Pension i...
A: In order to determine the net defined benefit liability/asset balance the Fair value of plan assets ...
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: 2) Thompson Glacier Limited purchased a tract of land and contracted with a commercial developer to ...
A: Trees and Shrubs , lighting around the parking area , pavement of parking lot , security fence are t...
Q: Seo and Urban own property as tenants in common. In the event one of them dies, their title will pas...
A: Lets first understand what is a meaning of tenants in common. When two or more individuals holds tit...
Q: Can you kindly assist me with the first 3 questions Question 4 Study the information provided belo...
A: The process costing calculates the cost of process taking into co...
Q: XYZ Company is preparing its direct materials budget. Budgeted production for January, February, Mar...
A: Openings inventory = 20% of current month budgeted production =7000×20% =1400 units. Closing in...
Q: On January 1, 2021, Point, Inc. purchased 10% of lona Co.'s common stock. Point purchased additional...
A: Answer - The amount of investment income to be reported in the year 1 income statement - When an ...
Q: ICE AC TIVITY The following information is taken from thể books of BM Traders: Bank Reconciliation S...
A: Bank Reconciliation: In Bank Reconciliation, Bank account balance as per entity’s books of account ...
Q: Long-Term Solvency Analysis The following information was taken from Combine Company's balance sheet...
A: Ratio of fixed assets to long term liabilities = Fixed assets/long term liabilities
Q: Peterson, Inc. purchased a machine under a deferred payment contract on December 31, 20x1. Under the...
A: Present value means the actual amount is adjusted with the interest rate so as to get the present va...
Q: Aquarius Corporation used the conventional retail inventory method. Cost Retail Beginning inventory ...
A: All amounts are in (P).
Q: Acme Inc. has invested $50,000 in a new assembly line. Products produced by the new assembly line ar...
A: The MARR is the minimum accepted rate of return from an investment. Given in the question: Cost of n...
Q: The income statement of Norski Co. for the month of July shows net income of $2,000 based on Service...
A: Various income and expenditure of an organisation will be presented in an income statement and it fo...
Q: Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its...
A: Consolidated financial statements are a set of financial statements prepared for a group company inc...
Q: Assume the following information: 90-day Ghana interest rate = 4% 90-day South African interest rate...
A:
Q: On January 1, 2020, Metro Inc. issued a five-year bond with a face value of $700,000. The bond bears...
A: Discount or Premium on Bond Issue: A premium bond has a coupon rate that is greater than the market ...
Q: Last month Bims, a wedding dress retaller, had total sales of $3,000,000. selling expenses of S315,0...
A: The Income Statement is just one of a firm's fundamental financial statements that illustrate its pr...
Q: 5) The following data pertain to Stainless Steel Enterprises for the year ended December 31, 2020: B...
A: Cash sale=Sale×100-70%=$755,400×30%=$226,620
Q: A company reports the following income statement and balance sheet information for the current year:...
A: Return on total assets shows ratio of net income with average assets invested in the business
Q: Earnings per share.. BRENNER INSTRUMENTS, INC. Balance Sheets Dec. 31, 2019 Dec. 31, 2018 $ 18,300 4...
A: Ratio Analysis is a great tool for the business to compare different results of the business and so ...
Q: On July 1,2021, Phantom Corporation purchased the rights to a mine for a total purchase price of P10...
A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with t...
Q: On July 1,2021, Phantom Corporation purchased the rights to a mine for a total purchase price of P10...
A: Yearly Depreciation Expense = Cost of asset - Residual value useful life of asset
Q: Armenia Company reported the following information on December 31, 2020: 1,000,000 Cash on hand Pett...
A: All amounts are in (P).
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: Hughes Limited manufactures two models of electric motors which are installed on commercial drones. ...
A: 1. Direct Material Cost = Units * D.M Cost per unit Standard = 25,000 x 85 = 2,125,000 Super= 15...
Q: Western Wholesale Foods incurs the following expenditures during the current fiscal year. How should...
A: The expenses can be treated as revenue expense or capital expenditure.
Q: Describe the elements of the Statement of Financial Position. Also, differentiate Current and Non cu...
A: Financial statement is prepared from the trial balance which include :- Profit and loss and oth...
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