an introduction about the effect of artificial inteligence on audit
Q: Questions 5 and 6 only
A: In this question, we are required to calculate Earnings Per share, and Debts to total assets rati...
Q: Toys Inc. manufacturers toy robots. Financial data for the manufacturing operations of Toys Inc. for...
A: Variable cost if output is less than 250 units= ($19050-$15300)/(232-125) = 3750/107 = 35.05
Q: A firm that sells a single product had a beginning inventory of 10,000 units with a total cost of BD...
A: Formula: Weighted Average cost per unit = Total cost / Number of units
Q: olve the question with explana
A: Current assets are assets that can be converted into cash within 1 year or 12 months. Non-current as...
Q: Midlands Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The ...
A: Breakeven point in terms of amounts is equal to the amount which must be sold to cover the fixed cos...
Q: A and B are in partnership sharing profits and losses in the ratio 3:2 respectively. Profit for the ...
A: Introduction: Partnership: Its an agreement between two or more partners for forming a business and ...
Q: What is the purchase price of the machine?
A: Purchase price of the machine or any asset is the cost of the asset which has been paid by the compa...
Q: On December 1, a company borrowed Php 100,000.00 at 12% per year. The interest will be paid quarterl...
A: Although the first interest payment will happen in the next fiscal year, the company will have to re...
Q: Ridge Marketing Tnc. two products, Presentiy, the company uses single plantwide factory overnead to ...
A: Painting Department Dlh rate = $236,00011,900= $19.83 Overhead in painting department for each unit ...
Q: At the market close of a recent year, McDonald’s Corporation had a closing stock price of $198.01. I...
A: Lets understand the meaning of dividend yield. Dividend yield is a calculation which compares the di...
Q: Instructions. Indicate which concepts/principles are violated. Support your answer. 1. No financial...
A: Accounting principles are the norms and criteria that businesses must adhere to when disclosing fina...
Q: Wookie Company issues 9%, five-year bonds, on January 1 of this year, with a par value of $109,000 a...
A: Number of periods = 5*2 = 10 Coupon rate= 9%/2 = 4.5% As the beginning carrying value is more than ...
Q: Which of the following should not be included as an application of the rate of return concept? rate ...
A: As per the guidelines, only one question is allowed to be answered so, I am answering question no. 1...
Q: Morning Sky, Inc. (MSI), manufactures and sells computer games. The company has several product line...
A: Contribution Margin=Sales Revenue-Variable Cost
Q: GL1101 - Based on Problem 11-2A LO C3, P2, P3 Upperchurch Company reports the following components o...
A: The stockholders' equity includes the total capital contribution by owner, retained earnings, withdr...
Q: 3.a. AG Pharma has taken deposits from the public under the name Public Deposit, for a duration of 5...
A: Public deposits means the unsecured amount of money invited through companies from public mainly for...
Q: net income of
A: To find the net income of 2021 presented as ,
Q: solve the question with explanation asap
A: Current assets are the assets that are expected to be converted within one year Calculation of total...
Q: answer number 27 to number 30 w
A: This is a multiple-choice question in which we have to select correct choices.
Q: Harriette is a salesperson who works for a prestigious and admired Fortune 500 company. About how of...
A: Following is the correct answer.
Q: Given the following transactions for Dumfries Company during the month of October2021. 1. Shareholde...
A: Dumfries Company {During the Month of October} Date Accounts title Debit Credit 1 Ca...
Q: Treasury Stock Transactions Yard Spray Inc. develops and produces spraying equipment for lawn maint...
A: a. Date Particulars Debit Credit Jan 31 Treasury stock (17,000 *26) 442000 Cash 442000...
Q: WHICH STATEMENT IS FALSE? A. If the net income of prior period is overstated because of the change i...
A: The correct answer for the above mentioned question is given in the following steps for your referen...
Q: Austin Company reports the following components of stockholders' equity on January 1. Common stock-$...
A: The journal entries are prepared to record day to day transactions of the business. The loss on sale...
Q: Six Measures of Solvency or Profitability The following data were taken from the financial statement...
A: The ratio analysis helps to analyse the financial statements of the business with computation of rel...
Q: As a financial analyst working for CSFB your job is to evaluate the equity value of the WIFI Inc. Yo...
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...
Q: TRUE OR FALSE? If ending inventory of prior year is overstated, retained earnings is understated
A: Ending Inventory of the business means amount or value of inventory that is left at the end of accou...
Q: Journal entry for purchased supplies for 1100.
A: When a company has been in operation for a time, it may be able to obtain office supplies on credit ...
Q: Harrington Manufacturing Inc. began operation 5 years ago producing the probo, a new type of instrum...
A: A fixed asset is a long-term tangible property or equipment that a company owns and uses to create m...
Q: Balance sheet can be prepared in vertical, net asset and horizontal format. What is the difference b...
A: Balance sheet refers to the financial statement of the business entity. It is divided into two parts...
Q: An engineer bought a car worth Php 662192. He paid a immediate downpayment of Php 15165 a remaining ...
A: Formula: PMT = PV x i(1+I)^n/(1+I)^n - 1 Where, PV = Loan amount = 662192 - 15165= 647027 i= interes...
Q: 4. Inventory valuation Your firm had 450 units of product A on hand at January 1, 2021, costing $10 ...
A: Cost of goods sold is the amount borne by the entity for making the goods available for sale.
Q: eriodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale...
A: Lets understand the basics. In first in first out basis company assumes that, goods come first in th...
Q: Don Johnson is the management accountant for Cari-Blocks (CB), which manufactures specialty blocks. ...
A: Variances shows the difference between the actual usage and the budgeted usage pre determined by the...
Q: Kingbird publishes a monthly sports magazine, Hockey Hits. Subscriptions to the magazine cost $22 pe...
A: To generate a journal entry, you input transaction data into your company's books. Your journal ent...
Q: Anna is looking to invest in a bond with a P1,000 par value, 8 percent annual coupon pays interest s...
A: Present Value of Bond = Present Value of Coupon Payments + Present Value of Redemption ValuePresent ...
Q: The project costs 1,40,000 and has no scrap value after five years. It is depreciated on straight li...
A: It has to be calculated on Return On Average Investment Method Under this method, average investmen...
Q: You have just made your first $1,500 contribution to your retirement account. Assume you earn a retu...
A: FV = PV(1 + r)t FV= Future Vale PV = Present Value r= rate of interest t = time in years
Q: Use the following information for exercise 15 to 18 LO P2 (The following information apples to the q...
A: Ernst Consulting Balance Sheet ...
Q: One item is omitted from each of the following computations of the return on investment: Rate of Ret...
A: Ratio Analysis is one of the various tools to analyze financial statements. Through Ratio Analysis p...
Q: When a new partner is admitted, this change in the ownership of a partnership results in a. consol...
A: To admit a new partner to the firm, all current partners must unanimously agree. The old and new par...
Q: Exclusive Souvenirs Hut does customize, hand-crafted memorabilia for hotels, in which each batch of ...
A: Solution Gross profit is the profit makes after substracting all the costs that are related to manuf...
Q: Adnan's trial balance has been completed and extended. The totals of the income statement columns an...
A: Introduction: Income statement: All revenues and expenses are shown in income statement. It tells th...
Q: Service Revenue $10,000 Cash $12,000. Accounts Receivable $3,000 Office Supplies $4,000 $2,000 $1,20...
A: The total amount of assets possessed by a person or business is referred to as total assets. Assets ...
Q: The balance according to the BCA bank statement shows a balance of IDR 7,175,000. Differences with c...
A: Bank Reconciliation Statement is statement for adjustments made between Bank balance as per cash boo...
Q: Debit Credit Logan, Capital Clark Logan made cash investment in his business. 2 An office equipment ...
A: Sno Transaction Debit Credit 1 Clark logan made cash investment in his business Cash Logan, Capit...
Q: a. Determine the dividend yield for Microsoft on December 31, current year, and previous year. Round...
A: Solution:- Given, The market price for Microsoft Corporation closed = $101.57 and $85.95 The dividen...
Q: Before preparing financial statements for the current year, the chief accountant for Pharoah Ltd. pr...
A: Solution:- Preparation of the journal entries as follows under:- Note:- Error in accounting entry ca...
Q: Based on their budget, Bryce and Sylvia have determined they can afford up to $2,500 per month for t...
A: Private mortgage insurance (PMI) is the insurance payable on the balance of the loan per year. At fi...
Q: Swifty Online Company has the following liability accounts after posting adjusting entries: Accounts...
A: Current liability means the liability which is to be paid with in a period of one year and others ar...
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