Accounting Question
Q: According to accruals rules, when a service is performed, the revenue should be recognized (recorded...
A: Ans. In accounting of transactions one of the most important and assumed principle is following accr...
Q: Define Units-of-production method
A: The units-of-production method is the method of depreciation based on the total number of units prod...
Q: 4. Thrills Amusement Park provides a variety of attractions. Thrills sells tickets at $50 per pers...
A: Unit contribution margin = Sales - variable costs = $50 - $28 = $22
Q: Monty Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days an...
A: Solution- Journal Entries Year Parti...
Q: Product R is normally sold for $45 per unit. A special price of $32 is offered for the export market...
A: Export tariff = 15% of revenue = $32 x 15% = $4.80
Q: A couple (which happens to be your close friends) bought a small apartment building for Php5 million...
A: A. Expense = Php525,000+Php750,000=Php1,275,000 per annum Revenue = Php18,000×4=Php72,000 per month ...
Q: An invoice dated May 5, 2019 has terms of sale 3/15, n60 ROG for goods received onJune 15, 2019. Fin...
A: According to ROG, the organization evaluates the due date of the invoice from the date when the good...
Q: Costs per Equivalent Unit The following information concerns production in the Baking Department for...
A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want ...
Q: Diamond Company's cost of debt financing is 10%. Its tax rate is 35%. Diamond has $3,000,000 of debt...
A: The cost of debt is the interest expense to be paid on the debt. Since interest expenses is tax dedu...
Q: Product T has revenue of $193,800, variable cost of goods sold of $113,400, variable selling expense...
A: Differential Analysis Differential analysis (also called incremental analysis) is a management accou...
Q: rovide the necessary journal entries for It's the Tooth Dental to record this activity. If an amount...
A: Step 1 Journal is the part of book keeping.
Q: From the list of assertions provided, select the relevant assertion(s) to each control objective. Th...
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: Eng Hardwares has the following balance as at 30 November 2020: Accounts RM’000 Wages(Debit) 11...
A: Journal Entry: Business Transaction is recorded in accounting system through Journal entry.
Q: On December 31, 2020, the Statement of Financial Position of DEL Partnership shows the following dat...
A: The capital of partners are restructured after admitting a new partners based on the new capitalisat...
Q: An asset was purchased for $110,000 on January 1, Year 1 and originally estimated to have a useful l...
A: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) / Expected life o...
Q: After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger o...
A: Dissolution of Partnership Firm means complete end of the relationship between all the partners.All ...
Q: An air-conditioning system is installed in a building under construction. Thebill for installation i...
A: An invoice amount includes costs and taxes.
Q: 47. Habitat Help Company provides cleaning services to commercial and residential customers. The com...
A: Contribution Margin = Sales Revenue - Variable Cost Contribution Margin ratio = Contribution / Sales...
Q: 2. The ABC Company consumes inventory of 67,500 units of components per year. The carrying cost per ...
A: A) EOQ is the minimum order quantity where the cost of holding as well as the cost of buying is at o...
Q: Determine the monthly payment necessary to accumulate $30,000 in a fund paying 6% per year, compound...
A: The future value is computed by multiplying the present money by the future value annuity factor. In...
Q: What is the current price of a share of stock when the current dividend is P4.75, the growth rate is...
A: Given information is: Current Dividend = P4.75 Growth rate = 7% Required rate of return = 11%
Q: Hansen Supermarkets purchased a radio frequency identification (RFID) system for one of its stores a...
A: Straight line method depreciation expense = ( Initial cost - salvage value ) / Estimated useful life...
Q: QUESTION 23. * X, Y; and Z were in partnership sharing profits or losses as follows; X 0.35 and Z 0....
A: “Since you have asked multiple question, we will solve the first question for you. If you want any s...
Q: Find the present value of the decreasing annuity necessary to fund a withdrawal of $100 per month fo...
A: Present Value:- It is the formula through which one can evaluate the worth of future income of the p...
Q: On January 1, 2017, Barclays bank issued 8 %, 5-year bonds with a face amount of K750, 000 to Puma Z...
A: On 01.01.2017, Barclays bank issued = 5 year 8% bonds = K750000 to Puma Zambia Interest payable = a...
Q: Intangible assets with finite useful lives mostly diff er from intangible assets with infiniteuseful...
A:
Q: Nash SE issues 500 shares of €10 par value ordinary shares and 100 shares of €100 par value preferen...
A: 1. Workings
Q: PROBLEM 3. Glenda is trying to decide whether to accept a bonus of 25% of net income after salaries ...
A: Given two options are: Bonus of 25% of net income after salaries or bonus Salary of 97500 plus a bon...
Q: The correct statements are: a. The free-rider problem arises from pure public goods being non-rival ...
A: Correct Answer = Option A = The free Rider problem arises from pure public goods being Non rival Exp...
Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', nonves...
A: Journal: Journal is considered as a book of original entry because all the transactions that have ta...
Q: Define Zero-Based Budgeting in Managerial Accounting.
A: Budgeting represents the process of developing a plan in order to spend money in the future. The pre...
Q: The following information is available for Kingbird Inc. for the year ended December 31, 2017: L...
A: Kingbird Inc. MULTIPLE STEP INCOME STATEMENT FOR THE YEAR ENDED 31ST DEC 2017 PARTICULARS (-) ...
Q: Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You ha...
A: Note: Due to multiple questions asked, we have solved only the first one (a). If you want us to solv...
Q: ems Cost Items Cost aw materials, 1/1/2019 OMR 30,000 Insurance, factory OMR 14,000 1367 160 010 20....
A: Solution Calculation of raw material c...
Q: Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the fol...
A: The incremental analysis reflects the selection of the best project or order from the two alternat...
Q: An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week....
A: Gross pay is that the quantity of cash your staff receive before any taxes and deductions area unit ...
Q: Inman Construction Company is considering selling excess machinery with a book value of $282,400 (or...
A: The book value of the machinery here is irrelevant because the cost of purchase of machinery has alr...
Q: Financial ratios utilized to manage a business falling under the categories of profitability,asset u...
A: Step 1 Ratio Analysis is a technique that is used to do financial analysis. in ratio analysis, the r...
Q: Hellllp
A: Direct material used means the raw material used in producing the finished goods directly. Indirect ...
Q: D) On January 1, P-Corporation and S-Corporation had condensed balance sheets as follows: Park Stran...
A: A consolidated balance sheet indicates the assets, liabilities, and shareholders’ equity of the pare...
Q: A machine with a cost of $135,000 has an estimated residual value of $15,000 and an estimated life o...
A: Machine Hour Method: Under this method, depreciation is calculated on the basis of hours that the m...
Q: 38. Unit product cost calculations using absorption costing do NOT include ________. fi...
A: Under variable costing, all variable manufacturing costs are product costs. Under absorption costing...
Q: Suppose that a company has fixed costs of $23 per unit and variable costs $9 per unit when 20,000 un...
A: *** fixed cost total will remain constant irrespective of the level of activity. *** fixed cost per ...
Q: What is an evidence which can support a conclusion for the time being but it may be proven otherwise...
A: Circumstantial proof is evidence that depends on associate illation to attach it to a conclusion of ...
Q: What is Pro forma (or projected) profit-and-loss statement?
A: Pro Forma financial Statement (also called as pro forma profit and loss) means that however the adj...
Q: XXX Company makes 4000 units at a cost of $300 each. Variable cost per unit is $200 and fixed cost p...
A: Under make v/s buy decision, A. Better to make if, manufacturing cost <purchase cost B. Better t...
Q: 1. Jones and his 6 year old son live with u ones father Bidwell for the whole year, Jones has an Adj...
A: Given: John Adjusted income = $15,000 Mr Bidwell has an AGI = $25,000 Jones is Single a) Who can c...
Q: If a fixed asset, such as a computer, were purchased on January 1 for $2,223 with an estimated life ...
A: Following is the answer to the given question
Q: During the current year, Central Auto Rentals purchased 60 new automobiles at a cost of $14,880 per ...
A: Meaning of Units of Production MethodDepreciation is a decrease in the value of assets due to norm...
Q: The following are the liabilities and equity section of BEE Partnership at the time of liquidation: ...
A: Liquidation is an event that occurs when a company is insolvent, which means it cannot pay its lia...
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