Is Economics a social science? Please justify your position by explaining what is the study of economics.

Q: Accounting Method solution

A: Step 1: The weight of Equity in the computation of WACC can be calculated by dividing the Value of…

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A: the amount at which the widgets will be reported on the balance sheet under the lower of cost or…

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A: Step 1: Define Price Earning RatioThis financial ratio calculated by dividing the existing market…

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A: Step 1: Define Notes ReceivableA notes receivable is classified as a current asset account if the…

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A: Explanation: In the given case, we are required to calculate the maturity value of the note on March…

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A: Step 1: Define Cost Volume Profit Analysis (CVP Analysis)CVP analysis is performed to make…

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A: Step 1:Given,Dividend payout ratio: 0.7Required rate of return: 10%Expected growth rate: 5% Step…

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A: Specialized industry accounting practices mean that certain industries have unique accounting…

Q: Karley Company sold equipment on July 1, 2021 for $75,000. The equipment had cost $210,000 and had…

A: Understanding the Transaction:Karley Company is selling a piece of equipment, and we need to record…

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A: Explanation of Segment Reporting: This is the practice of dividing a company's financial information…

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A: Explanation of FIFO Method in Process Costing: FIFO (First-In, First-Out) in process costing assumes…

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A: Step 1: Define Beginning InventoryBeginning inventory refers to the inventory which can be finished,…

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A: Step 1: Define Absorption CostingAbsorption costing is one of the costing methods used to prepare…

Q: In its first year of operations, the company produced and sold 70,000 units of Product A at a…

A: calculate the total gross margin (or product margin) earned by Product B, under the traditional…

Q: What is the equity ratio on these financial accounting question?

A: Step 1: Define Equity RatioThe equity ratio is a financial ratio that reflects the firm's capital…

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A: Step 1: Define Overhead costOver head cost are those expenses which are incurred on to convert raw…

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A: Market Price = (Annual Coupon Payment * (1 - (1 + Yield to Maturity)^(-Years to Maturity))) / Yield…

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A: Step 1: Calculate the Dividend Discount Model (DDM)The formula for the price of a stock based on…

Q: Journal 1. Record the payroll for March, including employee deductions.Journal 2. Record the…

A: Step 1:Journal:-Recording transactions in the books of account is the first step in accounting…

Q: When should accountants consider alternative performance measure?

A: Explanation of Alternative Performance Measures:These are metrics that go beyond traditional…

Q: How do contingent assets differ from provisions?

A: Explanation of Contingent Assets: Contingent assets are potential assets that may arise in the…

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A: Step 1:Identify given valuesStep 2:Calculate COGS per weekStep 3:Calculate Weeks of Supply

Q: What is prime cost?

A: Explanation: In the given case, we are required to calculate the prime cost from the data given in…

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A: Explanation of Diagnostics Cost: The diagnostics cost refers to the charge for the time spent by the…

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A: When recording accrued interest on bonds payable, the entry reflects the interest expense incurred…

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A: Explanation of Cash Sales: Cash sales represent transactions where payment is received immediately…

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A: Step 1:Computation of the PEG ratio: Price-to-Earnings Ratio = Current stock price / Earnings per…

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A: Explanation of Return on Equity (ROE): This is a key financial ratio that measures how efficiently a…

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A: Explanation of Documentary Evidence: Documentary evidence in accounting refers to the physical or…

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A: Step 1: Define General PartnershipWhen two or more people decide to come together to run a business…

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A: Step 1: Define Unit Product CostThe unit product cost is the manufacturing cost per item assigned to…

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A: Step 1: Define Overhead VarianceFirms assess the overhead variance to find the standard and actual…

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A: To determine the appropriate discount rate for the project, we need to calculate the Weighted…

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A: Question 1:Outback Camera Co. must calculate the liability for product warranties based on the…

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A: Step 1: Define High Low MethodThe high low method is a method used to estimate variable and fixed…

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A: Step 1: Define Factory OverheadIt is the cost which is incurred during the year for the…

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A: Step 1: The profitability index can be calculated by dividing the Present Value of Future Cash Flows…

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A: Explanation: To find the firm with the greater Return on Equity (ROE), we need to calculate ROE for…

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A: Step 1: Define Cost-Volume-Profit AnalysisCost-Volume-Profit analysis (CVP) can help a business…

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A: Step 1: Define FurnitureFurniture, defined as goods purchased to furnish the office, like bookcases,…

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A: Explanation of Hourly Rate:Hourly rate refers to the fixed amount charged or paid for every hour of…

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A: Identify Key Values:Beginning Inventory   = $190,000Net Purchases = $4,000,000Net Sales =…

Q: Prairie Gardens Supply sold landscaping materials. Daily sales: mulch 35 bags at $12 each, soil 28…

A: Step 1: Step 2: Step 3: Step 4:

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A: Step 1: Define Operating Cash FlowOperating cash flow is generated as a result of the business…

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A: Explanation of Depreciation Methods:Depreciation methods are accounting techniques used to allocate…

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A: Step 1: Define Operating LeverageOperating leverage is used to measure on how risky, sensitive, or…

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A: Step 1: Define Notes ReceivableThe note receivable is an asset to the one who holds it, it ,means…

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A: Step 1: Identify the dividend payout ratio (0.7)Step 2: Calculate the plowback ratioStep 3: Identify…

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A: Step 1: Define Profitability Index MethodThe profitability index (PI) method of capital budgeting is…