Describe two separate and distinct ways to calculate goods available for sale.
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A: Overhead application rate = Total budgeted overhead / Total direct labor hours Overhead applied = di...
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A: In the given question, machine was purchased 6 years ago and it still has a life of 4 years after wh...
Q: On January 1, 2021, PARKSOOYOUNG acquired all the outstanding shares of SUNGJAE for P600,000. The sh...
A: An asset refers to the resources that are generally used for generating the cash flows that help in ...
Q: B1. The following information related to ABC LLC Required: (a) Case 1: Calculating dollar amount of ...
A: 1) The markup on cost is the amount added to the cost of the product to arrive at selling price Jean...
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A: Formula: Division turnover = ( Sales revenue / Average operating Assets )
Q: Hanson Construction has an operating cycle of 9 months. On December 31, 2019, Hanson hasthe followin...
A: Solution Current assets are the assets which can be converted in to cash with in one year. Current...
Q: Please select the correct answer “Communication” a.is when a department is willing to prepare a bu...
A: Communication is the mutual exchange of information between the sender and receiver. Communication i...
Q: 14. Sold a house and collected Php45,000 commission. a. Debit Cash, Credit commission income b. ...
A: Commission income = Php 45,000
Q: Jennifer’s Landscaping Services signed a $400-per-month contract on November 1, 2019, toprovide plan...
A: Unearned income refers to money obtained from a client for work which has yet to be completed. It is...
Q: old X, Inc. uses the following information when preparing their flexible budget: direct materials of...
A: Solution: Flexible budget is the budget which represents budgeted cost at different levels of produc...
Q: Prepare all the necessary journal entries related to the machine from 30 June 2019 to 30 June 2021.
A: For the Period ending 30th June 2019, Particulars Dr/Cr Amount($) (1) Machinery Account Dr 2005...
Q: On January 1, 2020, Abbey acquires 90 percent of Benjamin's outstanding shares. Financial informatio...
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A: Formula: Interest expense = Accrued obligation beginning balance x Interest rate
Q: 8. In any transaction, the total peso amounts of debits must equal the total peso amounts of credits...
A: 8. In the Double Entry System, in any transaction total of debits always equals to total of credits....
Q: Schylar Pharmaceuticals, Inc., plans to sell 120,000 units of antibiotic at an average price of $18 ...
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Q: I. DIRECT COST AND OVERHEAD COST VARIANCE ANALYSIS Goldilock Inc. produces safe deposit boxes. Durin...
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for you...
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Q: 7. Received Php20,000 for the sale of a lot a. Debit cash, Credit Commission Income b. Debit Cash, ...
A: Received Cash from Sale of a Lot is a cash sale. Hence it increases cash and revenues of the company...
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A: FIFO is a technique of valuing inventories wherein objects sold or to use are generally priced at th...
Q: What mechanisms operate the chain of building relationship equity?
A: The B2C mechanism is the credible chain for building the relationships equity because it is manageab...
Q: A layoff is considered to be temporary when: Multiple Choice The employee is encouraged to retrain s...
A: Temporary lay-offs happen when your employer doesn't have enough work, so they ask some of the workf...
Q: Oxmoor Corporation prepared the following adjusted trial balance. ...
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A: ln cost accounting variance is calculated in order to understand the deviations from the actual, it ...
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A: Bonus method gives the additional capital to the incoming partner in case of goodwill brought by the...
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A: Fair Value Valuation of Non Current Assets While adopting the fair value valuation it can't measure ...
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Q: On January 1, 2021, PCO purchased 70% ownership of SCO which resulted to a gain on acquisition of P1...
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Q: Applegate Industries is planning to expand its production facility in a few years. New plant ...
A: Future Value = Present Value x Future Value Factor
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A: For real estate property Mid - month convention ( one half of the month in which property is purchas...
Q: On April 1, 2020, Quicke Mart issued $1,000,000, 9% bonds at par plus accrued interest dated January...
A: Bond is the debt security that investors uses to reduce the risk and increase stable return from the...
Q: Under PFRS 5, a noncurrent asset that is to be abandoned should not be classified as held for sale. ...
A: The assets are considered to be an important part of business and non current assets create long te...
Q: Based on the following information, which of the following is closest to days' sales outstanding? •R...
A: Days sales outstanding refers to the number of days that will be taken by the firm to collect the du...
Q: Central Avenue Company reported net income of P700,000 for the year 2021. The entity declared and pa...
A: Lets understand the basics. Retained earning is a net income that is retained every year after payin...
Q: Calculate retum on net operating assets and net borrowing costs for 2021.
A: The formula as follows:- Return on Net operating asset= Net ProfitCurrent asset-Current Liabilities ...
Q: Meiji Isetan Corporation of Japan has two regional divisions with headquarters in Osaka and Yokohama...
A: Return on investment (ROI)=Net Operating IncomeAverage Operating Assets×100 Residual Income=Net Oper...
Q: Problem 23-17 (IAA) retained earnings on December 31, 2020? During the current year, the following c...
A: Unappropriated Retained Earnings are the portion of the retained earnings which are not kept for any...
Q: A company reported the following reconciliation in the MD&A section of its 2020 Net cash provided by...
A: GAAP standardizes the financial reporting as well as provides the constant rules and format set in o...
Q: MC Packaging Limited (“MC") makes aluminum cans for the food processing industry. It produces the ca...
A:
Q: Use the information provided to answer the questions. Actual price paid per pound of material $14.00...
A: The variance is the difference between the actual data and standard output of the production.
Q: calculate the cost of goods manufactured: In S's Direct Materials Used 120 Direct Labor 200 Manufact...
A: Formula: Cost of goods manufactured = Direct materials + Direct labor + Manufacturing overhead + Beg...
Q: Withdrew from the agency, Php5,000 for personal use. A. Debit Cash, Credit J. Ilagan, capital B. De...
A: Drawings is a amount/goods withdrawn by business owner from its business.
Q: Consolidation: intra-group transactions Poh Ltd owns all the share capital of Soh Ltd. The income ta...
A: Solution Journal entries records the financial transaction which a business done throughout the year...
Q: On June 1, 2022, EBD sold equipment to EHL in exchange for a zero-interest bearing note with a face ...
A:
Q: All expenses incurred while traveling away from a tax home during a business trip True False
A: Expense allowed as deductible based on nature and relevance. Following is the correct answer.
Q: 2. Daniel Corp.'s trial balance reflected the following account balances at December 31, 2021: Accou...
A: Current Assets = Accounts Receivable + Trading Securities + Cash + Inventory + Prepaid Expenses
Q: (a): Wi s snare price after the repurchase? (b): Immediately after the repurchase, new information i...
A: Clark Industries has 200 Million share o/s Current Share Price $30 per share Clark plan to distribut...
Q: An explanation of the overall operations of a fulfilment centre?
A: A fulfilment center is a third-party service provider who processes and sends items ordered by your ...
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