Accounting Question
Q: what is professional judgement in financial accounting ?
A: Financial accounting is that branch of accounting which deals in recording of transactions, classify...
Q: Trifecta Distributors has decided to discontinue manufacturing its X Plus model. Currently, the comp...
A: Differential revenue per unit = Sales after rework - sale as is = $160 per unit - $104 per unit = $5...
Q: The following data are available for SQM Sociedad Quimica y Minera S.A. Calculate Inventory Turnover...
A: The value average inventory is calculated by adding the opening value of inventory that is at the be...
Q: If you have the following cost equation Y = 3000 + 10 *X units produced 1500 units. The fixed cost p...
A: COST FUNCTION Y=a+ b*x y= Total cost a= Total fixed cost b= variable cost per unit x= Total number o...
Q: Target Profit Outdoors Company sells a product for $195 per unit. The variable cost is $80 per unit,...
A: The Company sells a product for $ 195 per unit. The variable cost is $ 80 per unit, and fixed costs...
Q: Portia Co. uses the installment method of income recognition. The entity provided the following pert...
A: Instalment accounting is followed by the firm which sells its goods on instalments. It means the cus...
Q: This question has two separate part and each part should be answered Part a- Sail Sail Ltd has th...
A: Solution: Income Tax - Tax imposed on company or individual with respect to their earned profits ...
Q: 3-11. (Working with a statement of cash flows) Given the following information, prep. a statement of...
A: Cash flow statement:(CFS): The statement where the cash that was out from the entity and the cash re...
Q: Current year’s depreciation charge relating to Equipment used for designing products should be inclu...
A: The depreciation is an expense charged by business on its fixed assets.
Q: Maplewood paid $355,000 in cash. Record the purchase in the journal, identifying each lot's cost in ...
A: Total apprised value of all lots = $144,000 + $96,000 + $240,000 = $480,000 Lumpsum price allocated ...
Q: The accounts receivable clerk for Evers Industries prepared the following partially completed aging ...
A: Step 1 Hello. Since your question has multiple parts, we will solve first question for you. If you w...
Q: Explain how is cost of capital used to make financial decisions? Why do you think funds generated th...
A: In capital budgeting, the cost of capital is used to select projects with higher profitability so th...
Q: explain
A: It is identified that many of the criteria given in the Table I can be met simultaneously. For insta...
Q: Pen Brush Which of these contractual terms would lead a company to account for a lease contract unde...
A: Capital Lease Method: The capital lease method is an accountiing approach that posts a company's lea...
Q: 3-9. (Working with a statement of cash flous) Given the following information, prepare a statement o...
A: Activities under cash flow statements are: 1) Cash flows from operating activities2) Cash flows from...
Q: Accounting for uncollectible accounts using the allowance method (aging-of-receivables) and reportin...
A: Uncollectible accounts are those accounts receivables from which sales has been made on account but ...
Q: On January 1, 2020, Peasy Corporation acquired 60 percent of Squeezy Corporation's voting common sto...
A: on january 1, 2020 the equipment valued at 59000 of peasy on January 1,2020 the equipment valued to ...
Q: Read the extract carefully and apply the problem-solution pattern of analysis to it. Use numbers onl...
A: Accounting software are the software which are used by the firm to perform the accounting tasks and ...
Q: Show your complete solution. 4. A man purchased a share or stock for P135 six years ago and has re...
A: The rate of return is the return an investors receive on his or her capital during a period of time....
Q: Weil Corporation has 80,000 shares of $8 par value common stock outstanding. Complete the following ...
A: The stock dividend increases the number of outstanding shares and decreases the balance of retained ...
Q: Pedro Corporation acquired 80 percent of Strop Company on January 1, 2020, by issuing 29,000 shares ...
A: Acquisition: It is a case, when all or majority stocks of a company is purchased by another company....
Q: Fauna Company used the inventory method to account for numerous small tools. The balance of the too...
A: Journal: It refers to an account in which all the financial transactions pertaining to a business ar...
Q: What is the answer to these question I uploaded
A: IAS 23 borrowing cost says that if any interest is paid on a loan, which is taken to construct a qua...
Q: What is the answer to these question I uploaded
A: Accounting principles are general rules and guidelines that the company follows while recording and ...
Q: explain
A: It is identified that many of the criteria given in the Table I can be met simultaneously. For insta...
Q: Agency XYZ received from DBM allotment for capital outlay and NCA amounting to P15 million and P10 m...
A: The funds are allocated to Agency XYZ by DBM allotment for the expenditures incurred during the part...
Q: A company had zero Taxable Income in 2010, Taxable Income of $10,000 in 2011, and a Net Operating Lo...
A: The answer for the multiple choice question and relevant explanation are presented hereunder : Defer...
Q: S1 Sufficient working capital is needed to prevent business from becoming insolvent S2 Preference sh...
A: Working capital means how much money is needed for running day to day operations of the business. Th...
Q: Commute for the consolidated net income.
A: The question is related to Consolidated Financial Statements. Required Compute Consolidated Net Inc...
Q: Provide an explanation about the importance of adjusting Entries.Among the types of Adjusting Entrie...
A: Adjusting entries: Every company maintains its accounts periodically with the transactions it has un...
Q: Run Ltd are a fitness shoe manufacturer based in Ballymount. Run Ltd are preparing their budgets for...
A: The budget is prepared to estimate the production material required for future period.
Q: Entries for Bonds Payable and Installment Note Transactions The following transactions were complete...
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Accounting Question
A: Prime Cost is the sum of all the direct material cost, direct labor cost and direct expenses related...
Q: Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following informat...
A: Cost of goods sold = Cost of goods manufactured + Beginning Finished goods - Ending Finished goods ...
Q: Machine “A” has a starting cost of $ 50,000 with an estimated period of 12 years and a salvage value...
A:
Q: The controlling (parent’s) interest – retained earnings or the consolidated retained earnings on Dec...
A: PROBLEM 1 On 01.01.20x0, P company purchased outstanding shares of S company = 80% Purchase consider...
Q: Subject: Plant Assets, Natural Resources, and Intangible Assets Q\ Why would a firm amortize a paten...
A:
Q: A company has a temporary difference due to doubtful accounts (i.e., bad debt expense). For fiscal y...
A: Solution: Bad debt expense is future deductible on actual write off basis. Therefore it will create ...
Q: Which of these items related to bonds would be added back in the Operating section of the SCF under ...
A: Bonds means the kind of instrument which acknowledges the debt due from one company to bond holder w...
Q: Sunland Company provides financial consulting and has collected the following data for the next year...
A: Labor rate per hour = (Total labor cost/ Total estimated consultinghours) + profit margin per hour
Q: (Ignore income taxes in this problem.) Your Corporation is considering the following three investmen...
A: The question is multiple choice question. Required Choose the Correct Option.
Q: Crane Company is starting business and is unsure of whether to sell its product assembled or unassem...
A: When business has alternatives of further processing products or selling unassembled products, then ...
Q: Matthews Corporation warrants its products for two years. The estimated product warranty is 5% of sa...
A: Journalizing is the process followed by businesses in recording their transactions in an orderly man...
Q: Please help solve the attatched
A: Tax means the mandatory payment made by assesse to the government without expecting anything directl...
Q: I need help with this problem in Accounting.
A: Accounts Receivable are those parties to whom business has made credit sales on account. If some amo...
Q: 25. Alan earns $85,000 per year and is considering a second job that would earn him another $10,000 ...
A: Tax Liability is the different company's taxable income as shown in the income statement and in inco...
Q: With reference to the conceptual framework for accounting, explain the nature of goodwill and how go...
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week....
A: Social security tax will be charged on gross pay Medicare tax will be charged on gross pay
Q: A $25,000 City of Kingston bond issued on July 17, 2007, with five years to maturity has a coupon ra...
A: Market value=Present value×Amount of bonds issued=0.350728×$25000=$8,768.2 Thus, the market value is...
Q: The company’s capital structure is as follows: Debt Weight 25%, Preferred Stock Weight 25%, Common e...
A: Weighted average cost of capital means the sum total of average of various cost against various fina...
Step by step
Solved in 2 steps with 1 images
