Distinguish between these 1. Company vs corporation.

Q: As of December 31, 2020, Grimmie Company's general ledger reported a total cash balance of P695,000.…

A: Answer:- Statement of financial position meaning:- Statement of financial position, accurately…

Q: Following is the year-end adjusted trial balance for MGM, Inc. for the December 31, 2020. MGM, Inc.…

A: Closing entries are prepared in order to close accounts like income and expenses which is normally…

Q: Concord Corporation's charter authorized issuance of 96,000 shares of $10 par value common stock and…

A: The company issues either common shares or preferred shares. When the company issues these shares…

Q: Sample Cat. ref. Sales Unit Description Last 12 mo. Inventory as Reorder sales (units) at last year…

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Q: CASE 1 Complete the table below and identify which among the situations (1-5) is the most beneficial…

A: Operating Cycle=Average Age of Inventories+Average Age of Receivables Cash Conversion Cycle=Average…

Q: Your firm has a credit rating of A. You notice that the credit spread for five-year maturity A debt…

A: Bond pricing refers to the process of determining the value or worth of a bond. The price of a bond…

Q: Mountain, Inc., purchased a new automobile on October 1 of the 2020 at a cost of $148,000. The…

A: Depreciation is an expense which is charged to a fixed asset of a firm. Depreciation is reported on…

Q: Hi-Tek Manufacturing Inc. makes two types of industrial component parts-the B300 and the T500. An…

A: Sale B300=Units sold×Price per unit=60400×$19=$1147600

Q: Worthy started a haircutting business called Expressions. The following events occurred during nonth…

A: The question is based on the concept of Financial Accounting.

Q: Answer please

A: Here we have to compare three alternative process to select the best process from…

Q: a) Bianca takes out a 20-year home loan of $480,000 for her property. She makes equal month-end…

A: A mortgage loan is the type of loan that is provided to a borrower by a bank or financial…

Q: PROBLEM D Given the assumptions below concerning the Speedy Growth Company, construct the income…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: Required: 1. Compute the company's net sales for the year. 2. Compute the company's total cost of…

A: The income statement is one of the financial statements that shows the financial performance of the…

Q: On May 1, Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for $80…

A: Sale amount for assets= $80 million Book value of assets= $48 million Operating income in form of…

Q: Refer to the following data. Suppose a portfolio consisting of 40% in Security A and 60% in Security…

A: Here,Weight of A is 40%Weight of B is 60%SecurityBetaResidual…

Q: Assume the Hiking Shoes division of the Simply Shoes Company had the following results last year (in…

A: Total assets is the amount owned by the business. Operating income is the income earned from the…

Q: What is the minimum price that Dursley Ltd could charge the cosmetics business to justify the…

A: The relevant costs are the differential costs between making and buying of the product.

Q: O'Leary Corporation manufactures special purpose portable structures (huts, mobile offices, and so…

A: Particulars Amount Actual Manufacturing overhead $9,552,000 Applied overhead (7,812,000/55,800 ×…

Q: CAPITAL BUDGETING AND CASH FLOW ESTIMATION Allied Food Products is considering expanding into the…

A: The company’s capital budgeting process has taken in to consideration the inflation effect in its…

Q: ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income ($ thousands)…

A: Percentage has been calculated by using 2015 as base year.

Q: 1. Homework Chapter 10

A: Dividends:This is the amount of cash distributed to stockholders by a company out its earnings,…

Q: At the end of the current year, Accounts Receivable has a balance of $790,000; Allowance for…

A: ALLOWANCE FOR DOUBTFUL DEBT ACCOUNTAllowance for Doubtful Debt Account is Considered as Contra Asset…

Q: Cool Stuff, Inc. uses 800 units of a product per year on a continuous basis. The product has…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Required information [The following information applies to the questions displayed below.] Tyrell…

A: Interest due It represents the amount required to pay the interest cost of a loan for the payment…

Q: Accounts Debit Credit Cash 5,450 Accounts Receivable 16,200 Supplies Prepaid Insurance Equipment…

A: The adjustment entries are prepared to adjust the revenue and expenses for the current period.

Q: Given the information below for Seger Corporation, compute the expected share price at the end of…

A: A price ratio is a financial metric that is used to evaluate the intrinsic value of the share by…

Q: LCD Industries purchased a supply of electronic components from Entel Corporation on November 1,…

A: Purchase Price : $24 Million Period : 12 Months Monthly Interest Rate : 12% / 12 = 1% Annuity rate…

Q: Consider a five-year MACRS asset purchased at $75,000. (Note that a five-year MACRS property class…

A: Depreciation: Depreciation is a method that allocates the cost of a tangible or physical asset over…

Q: 884 xercises + - E 15-1 Lease classification • LO15-1 Each of the four independent situations below…

A: Capital lease and operating lease Capital lease: A capital lease refers to the lease in which the…

Q: Sells at of $48 for a unit, direct material $17, direct labour $12 dollar, and overhead $16 (75%…

A: Lets understand the basics.In special order situation, management needs to choose whether to accept…

Q: please answer

A: Inventory Categories cost data Net Realizable value data Inventory Value Camersa 15654 15784 15654…

Q: Benoit Manufacturing Company manufactures and sells parts for various musical gadgets. The following…

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Q: O b. All the other answers are incorrect.

A: Insurance refers to the contract between the insurance company and the entity that receives…

Q: If you earn a total of Php 1,000,000.00 annually, what is your expected monthly tax?

A: Answer; We have Gross Income = P 1,000,000 As per personal income tax (2018-2022), the tax schedule…

Q: Question 1 Of the following types of audit evidence, which is the most persuasive? Select one: a.…

A: Persuasive evidence refers to evidence that is considered to be strong and compelling, and that…