Explain the concept of conservatism in accounting. How does the principle of conservatism affect the valuation of assets and liabilities?

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A: Step 1   Dividend Yield  Formula. Dividend Yield=Price per ShareAnnual Dividend per Share​×100…

Q: At the beginning of the year, Quaker Company's liabilities equal $72,000. During the year, assets…

A: To find the beginning and ending amounts of equity, we use the accounting equation: Assets =…

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A: The time value of money (TVM) is a financial concept that states that a sum of money has a different…

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A: Step 1: Define Cost of Goods ManufacturedGoods manufactured are calculated by adding the value of…

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A: Step 1:First, calculate the rate of interest per week: Rate of interest per week = Two-week period…

Q: Question: 2.7 Bolsa Corporation produces high-quality leather belts. The company's plant in Boise…

A: Calculation of Standard Cost of LeatherStandard Cost of Leather = Units Produced x (Strips per Belt…

Q: Bartlett's Pears has a profit margin of 8.20 percent on sales of $24,300,000. If the firm has a debt…

A: To calculate the firm's Return on Assets (ROA), we can use the formula: ROA = Net Income / Total…

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A: Step 1: Definition of the Accounting EquationThe Accounting Equation represents the relationship…

Q: Resco, a local retail establishment, expects to make inventory purchases as follows for the first…

A: To calculate the total expected cash disbursements for February and March, we consider that 25% of a…

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A: Step 1:Calcualte the turnover as follows:Turnover = Sales / Average operating assets…

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A: Step 1: Calculate Sales RevenueStep 2: Calculate Variable ExpensesStep 3: Calculate Contribution…

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A: To calculate the gross profit, we need to compute the net sales and cost of goods sold (COGS), then…

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A: To calculate the Effective Annual Rate (EAR) for a discounted loan with a compensating balance, we…

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A: Step 1: Definition of Full Costing (Absorption Costing)Full costing, also known as absorption…

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A: Explanation of Profitability Index (PI):The profitability index (PI) is a financial metric used to…

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A: Explanation: The amount of ending inventory can be calculated by using the formula of calculating…

Q: What is the profit margin?

A: To calculate the profit margin, we use the formula that connects return on assets (ROA), total asset…

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A: Step 1: Define Straight-Line DepreciationStraight-line depreciation is a method of allocating the…

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A: Step 1: Define Effective Interest RateThe Effective Interest Rate represents the true cost of…

Q: Calculate the cost of ending inventory under variable costing

A: Explanation of Variable Costing: Variable costing is a method of product costing that only includes…

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A: Question 1Step 1: Arithmetic ReturnThe arithmetic return is calculated by taking the average of the…

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A: Explanation of Straight-Line Depreciation:Straight-line depreciation is a method used to allocate…

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A: An embedded derivative in a hybrid contract must be separated and accounted for as a derivative…

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A: Given Data:Standard Price per Pound: $4.50Standard Quantity per Unit: 2.30 poundsActual Quantity…

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A: Concept of Borrowing Costs:Borrowing costs refer to the interest and other costs incurred by an…

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A: Equity = Total Assets / (1 + Debt-Equity Ratio)Calculation: Equity = $2,875 / (1 + 1.70) = $2,875 /…

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A: Step 1:First calculate the sales in dollars: Sales in dollars = (Fixed cost + Desired profit) /…

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A: 1. Calculate Expected Overhead:Expected Overhead = Actual Machine Hours * Standard Rate per…

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A: Depreciation on a personal computer used in the marketing department is considered a period cost…

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A: Step 1: Define Capital Gains YieldThe Capital Gains Yield measures the change in the stock price as…

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A: To determine the interest rate that will quadruple an investment in 12 years, we can use the formula…

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A: To calculate how much more money the bank can create, we use the money multiplier formula: Money…

Q: Inventory records for Dunbar Incorporated revealed the following: Date Transaction No. of units Unit…

A: Step 1:Under the FIFO method of inventory valuation, inventory that comes first is sold first, and…

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A: Step 1: Define Contribution MarginContribution Margin is the remaining sales after deducting its…

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A: Step 1: Definition of Sales RevenueSales revenue is the total income generated from the sale of…

Q: What is the gross margin for September on these general accounting question?

A: Step 1: Define Gross MarginGross Margin is the amount remaining after subtracting the cost of goods…

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A: Step 1: Define Gross ProfitGross profit can be defined as the difference between sales and the cost…

Q: What is the contribution margin ratio on these general accounting question?

A: Explanation: Contribution margin ratio is calculated using the following formula:Contribution margin…

Q: Annapolis Company completes job #601 which has a standard of 500 labor hours at a standard rate of…

A: To calculate the labor efficiency (quantity) variance, we use the following formula: Labor…

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A: To calculate the approximate real rate of return, we need to adjust the nominal return for…

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A: Step 1: Define Break-Even Point and Required Sales for Target IncomeTo calculate the number of units…

Q: The following amounts have been extracted from the accounts of Sell-It at its year-end, December 31,…

A: Step 1: Formula Gross profit = Sales - Cost of goods sold  Step 2: Substitution Gross profit = Sales…

Q: What amount should be debited to the patent account? General accounting

A: Step 1: Definition of PatentsA patent is an intangible asset that grants the holder exclusive rights…

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A: Step 1: Definition of Percentage Return on Investment (ROI)The percentage return on investment (ROI)…

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A: Calculation of Total Cost per unitTotal Cost per unit = Unit Material Cost + Unit Conversion Cost…

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A: Step 1: Information providedMaterial Cost = $5,000Labor Cost = $30,000Power = $10,000Number of ball…

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A: Step 1:Long term assets, also known as fixed assets or non current assets which doesn't not have…

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A: Step 1: Define Merchandise Purchases BudgetThe merchandise purchases budget shows the amount of…

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A: The alternative account title for gift cards payable is gift certificates payable.  Note: If you…

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A: Hope this helps