Is the cash flow statement a reasonable alternative to the activity or operating statement? Is the cash flow statement a reasonable alternative to the

Q: Accounting Question

A: Semiannual Interest = Par value of bonds x Interest rate x 6/12

Q: If an asset is sold at a gain, why is the gain subtracted from net income when computing the net cas...

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and ca...

Q: “All future costs are relevant in decision making.” Do you agree? Why?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to ...

Q: Name several activities in the value chain of (a) a manufacturer of cotton shirts and (b) an airline...

A: Definition: Value chain: Value chain is the combination of activities including all the costs to do ...

Q: 1. Prepare the journal entry to record Tamas Company's issuance of 6,100 shares of $100 par value, 9...

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Q: Explain how a shift in the sales mix could result in both a higher break-even point and a lower net ...

A: Break-even point in sales: The quantity of sales which generates revenues required to pay off all th...

Q: Accounting Question

A: Preliminary analytical review is used for finding out risks and potential high risk areas for planni...

Q: Below are the statements of financial position for Haggis and Stovies Haggis RM Stovies RM Non-curre...

A: Consolidated financial statements are a set of financial statements prepared for a group company inc...

Q: Give examples of how each of the objectives of managerial accounting activity would be important in ...

A: Objectives of Managerial Accounting include: 1. Providing information for decision making 2. Assista...

Q: What effect does an increase in the activity level have on—a. Unit fixed costs?b. Unit variable cost...

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...

Q: Explain how a non-profit organization like Doctors Without Borders might assign overhead costs to th...

A: Traditional absorption-based costing allocated costs based on a single cost factor which is generall...

Q: “Variable costs and differential costs mean the same thing.” Do you agree? Explain.

A: Differential cost: The difference between the costs of two alternatives is considered as a different...

Q: Managerial accounting is an important part of any enterprise’s management information system. Name t...

A: Managerial accounting:   Management accounting is a practice where by management reports and account...

Q: Question using the weighted procedure method of setting rates, calculate the relative value and cost...

A: Job order costing is a costing method which is used to determine the cost to manufacture for each jo...

Q: What does a flexible budget performance report do that a simple comparison of budgeted to actual res...

A: Flexible budget performance report:   A tool used to compare the actual and budgeted results generat...

Q: What are the three major sections on a statement of cash flows, and what type of cash inflows and ou...

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Q: How many Work in Process accounts are maintained in a company that uses process costing?

A: Process Costing:   Process costing is a method of costing where the production is continuous and und...

Q: Production and cost data of Akoo Ltd have been recorded over two years thus:Last year Current yearPr...

A: Real fixed and variable costs are the costs purely determined in terms of cost and no inflation adde...

Q: Are activity-based costing systems appropriate for the service industry? Explain.

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Q: On May 3, Zirbal Corporation purchased 5,000 shares of its own stock for $45,000 cash. On November 4...

A: Treasury stock when shares reissued= (Cost of purchase / Number of shares) * Number of shares reissu...

Q: Hitzu Co. sold a copier (that costs $5,500) for $11,000 cash with a two-year parts warranty to a cus...

A: Warranty Expenses is expense on repair or replacement expected during the warranty period on goods s...

Q: According to some estimates, the volume of electronic commerce transactions exceeds $3 trillion. Bus...

A: This explosion of e-commerce will affect accounting in general and managerial accounting in several ...

Q: Distinguish between an activity’s trigger and its root cause. Give an example of each.

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Q: Distinguish between cost accounting and managerial accounting.

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Q: *PLEASE CORRECT ANY INCORRECT INPUTS AS WELL* Requirement 3 Draper has decided to manufacture billin...

A: Formula: Cost to manufacture one unit = Cost of Goods sold / Number of units sold.

Q: List the costs that would likely be included in each of the following marginal-cost calculations.1. ...

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Q: How is the concept of product costing applied in service industry firms?

A: product costing: It is the method of allocating direct and indirect costs to units of products indiv...

Q: How solvent is the business and how many interest payments can the business service on its own?

A: Solvency of the company is the ability of a company to meet its long-term debts and financial obliga...

Q: Is the following expense deductible:  Data runs a computer servicing company. He purchases office s...

A: All the expenses incurred in connection with the business is deductible expenses.

Q: Several costs incurred by Myrtle Beach Golf Equipment, Inc. are listed below. For each cost, indicat...

A: Match the type of Costs and Cost items.

Q: Journal Entries Selfish Gene Company is a merchandising firm. The following events occurred during t...

A: Journal entries are the transactions that are recorded in the primary book. They are chronological i...

Q: Morgan Company issues 10%, 20-year bonds with a par value of $760,000 that pay interest semiannually...

A: Answer:   Option 3.

Q: How can budgeting assist a company in planning its workforce staffing levels?

A: Workforce planning is about working out the needs of the business - what workforce it needs to move ...

Q: The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable E...

A: Flexible budget is dynamic and changes with the change in the volume of activity.  

Q: Beginning work in process 10,000 unitsUnits started 20,000 unitsUnits completed 25,000 unitsBeginnin...

A: Process costing is the costing method, which surmises the process costs for a particular process and...

Q: Explain why the quantity purchased (PQ) is used in computing the direct-material purchase price vari...

A: Material Purchase Price Variance: Material price variance occurs when the price expected to purchase...

Q: Consider the following cost items:1. Salaries of players on the Boston Red Sox.2. Year-end completed...

A: Income statement:   Income statement is a financial statement that shows the net income or net loss ...

Q: How can a company’s board of directors use the budget to influence the future direction of the firm?

A: Definition: Budget: Budget is the process of identifying, collecting, and summarizing financial info...

Q: Why does the balanced scorecard include financial performance measures as well as measures of how we...

A: Balanced Score Card: Balanced Score Card is a tool used for determining the impact of the major busi...

Q: On July 1, Alton Co. issued an $74,700, 10%, 120-day note payable to Seller Co. Assume that the fisc...

A: Interest will be recognized on $74700 and the interest rate charged is 10%.  Amount of interest expe...

Q: What is meant by the term cost driver? What is a volume-based cost driver?

A: Activity-based costing: It is a method that helps in finding the activities performed by a company a...

Q: 1.Read the statements below and answer the question - The earnings process should be completed entit...

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,...

Q: Poma Africa Ltd manufacture tennis racquets. The company uses the job costing system to cost its pro...

A: Job-order costing is a cost accounting method which calculates the costs which are allocated to a pa...