Please select the correct journal entry for it Dr Dr Dr Dr Cr Cr Cr Cash Revenue (p&l) Cr Revenue (p&l) Expenses Cash Cash Expenses Cash 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000

Q: How long does it take (to the nearest whole year) for Php 50,000 to quadruple in value when the…

A: By rearranging a PV formula, we can solve for time period (n). Please note when doing this question…

Q: Don Juan, a single taxpayer, is the sole owner of DJ's Incorporated, an S Corporation. In 2022, DJ's…

A: As per requirement of the above question, the answer is below : A). Don juan will be able to deduct…

Q: 6. When you undertook the preparation of the financial statements for Suzanne Company at January 31,…

A: Ending inventory is the valuation of the goods still in stock and retained by a firm at the end of…

Q: Given the following information, determine the burdened hourly wage rate for an equipment operator.…

A: According to the given question, we are required to compute the burdened hourly rate for an…

Q: In 2020, Henry and Eva paid $2,500 of qualified domestic adoption expenses. The adoption did not…

A: There are adoption credit available based on the income and they are paid in the year in which it is…

Q: a. What interest rate would make it worthwhile to incur a compensating balance of $16,000 in order…

A: The compensating balance is the bare minimum that the borrower agrees to retain with the lender; it…

Q: 2) A restaurant purchases chicken breast four times each week and conducts an inventory weekly. The…

A: In weighted averages, each number is assigned importance (or weight). A weighted average could be…

Q: What inventory policy do you suggest for Kelly's station? (Round the order size and the reorder…

A: Given in the question: Average Demand Per Week 240 Holding Cost per plug per week  $…

Q: LB Corporation purchased a business car in June 2022 for $62,000. The car weighs 4,000 pounds and…

A: As per the rules of Sec. 179, the depreciation on Cars, trucks and Vans is limited. As 50% of…

Q: On December 31, 2022, Company sold land in exchange for a nine-month, 10% note. The note requires…

A: As per the given information: Land sold in exchange for a nine-month,10% note.Payment - $200,000…

Q: The adjusted trial balance of Kramer's Legal Practice appears below: KRAMER'S LEGAL PRACTICE…

A: The financial statements of the business include the income statement, balance sheet and statement…

Q: Prepare profit statements for each half of the year 2021 using:

A: Marginal costing (GHS) Absorption costing (GHS) Direct materials p.u 15.00 15.00 Direct labour…

Q: Prophet Corporation acquired 75 percent of Seer Corporation's voting common stock on December 31,…

A: According to the given question, we are required to prepare the consolidated worksheet entries.…

Q: Parker Company uses a job-order costing system and applies manufacturing overhead to jobs using a…

A: job cost sheet is such a sheet that is prepared of the actual cost of a job. the actual cost of job…

Q: 1. Micro Advantage issued a $6,000,000 par value, 18- year bond a year ago at 97 (i.e., 97% of par…

A: Given in the question: Par value of Bond $6,000,000 Bond issued at 97% Stated Rate…

Q: An expenditure of Php is made to modify a material a small job shop. This modification will result…

A: The present value of futures saving must be equal to the initial investment made depending on the…

Q: ucing dental crowns quali for dif d costs $150,000 per year in operat years with no salvage value,…

A: Investment decisions  Investing decisions are frequently aided by decision-making tools. The…

Q: ap sum at he end of level payments a at th

A: Answer :Lump sum payment = A*(1+6%)^10 = A*1.790848  ........... (1) If Beauregard makes 10 level…

Q: A CNC (computer numerical control) machine produces a particular part in batches of 125 units. Each…

A: Sometimes, manufacturers manufacture the product not in a single unit but rather, it produces in…

Q: Art owns all of the stock of Santa Fe, Inc. a calendar- year S corporation. Art materially…

A: Santa fe is an wholly owned subsidiary of Art, loss earned by subsidiary company cannot be used to…

Q: 53 kes Video Planet (VP) sells a big screen TV package consisting of a 60-inch plasma TV, a…

A: As per IFRS 115 Revenue recognition standard,  Revenue is to be allocated to each performance…

Q: On July 1, 2017, Agincourt Inc. sold land having a fair value of $700,000 in exchange for a 4-year…

A: Lets understand the basics. When asset is transferred against the promissory note than gain on sale…

Q: For each of the following taxes which are imposed on private foundations, match the appropriate…

A: Excise taxes: Excise taxes are those taxes which are levied on the specified goods or services at…

Q: Problem 11-39 Budgets and Performance Evaluation (LO 11-1, 11-6) Johnson Electrical produces…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: Bookbinders Co. is making a decision about investing in new technology. It currently expects to earn…

A: We have the lifetime expected value of earnings. Due to investment in new technology improvements in…

Q: ▪mputing Annuity Amounts to a Debt Re nd n January 1, Chang Inc. establishes a bor nd (a bond…

A: Future of the annuity is required to calculate the sinking fund amount and sinking fund is the…

Q: Oriole Works' uses a periodic inventory system. Its accounting records show the following as of…

A: The cost of goods purchased can be calculated by adding up the cost of goods purchased, freight in,…

Q: The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Robinson Products Company has two service departments (S1 and S2) and two production departments (P1…

A: Cost allocation is the process of relieving the cost centers of shared service organizations that…

Q: An analyst gathers the following data: 1,000,000 common shares outstanding (no change during the…

A: Diluted Earning Per Share: The earnings per share (EPS) of a corporation may be evaluated more…

Q: Barney Stinson, a legal advisor at Goliath Bank, is under intense pressure at work to ensure that…

A: Target profit = $250,000 Target contribution margin = Target profit + Fixed cost   Contribution…

Q: chased vears, with an $24,000 residual value. Tiltor Year 7, Tilton Products sells this machinery…

A: sale of the asset: When the company sells its fixed asset, the gain or loss on the sale of the asset…

Q: Katie bought a house in 2000 for $300,000. She put 10% down and then financed the remaining balance…

A: EMI = P×r×(1+r)n(1+r)n-1 where; P = Principal = $300,000*90%= $270,000 r = rate of interest = 7.25…

Q: Narchle sells a single product for $50. Variable costs are 70% of the selling price, and the company…

A: It is pertinent to note that under marginal costing costs are divided into two types a) Variable…

Q: Question #6: The McLaren car factory is scaling up production so they can sell 2,000 MP4 model…

A: Break even point=Total Fixed CostsSelling Price-Variable cost per unit

Q: X-Tel budgets sales of $96,000 for April, $144,000 for May, and $102,000 for June. Sales are 50%…

A: In order to increase the sales revenue the business entities sold their goods on a credit basis.…

Q: Question 8 Christina bought a new car for $21,000. She paid a 10% down payment and financed the…

A: Cost of car=21000 Down payment=10%*21000=2100 Remaining amount=21000-2100=18900 Time period=60…

Q: Marin Company produces two software products (Cloud-X and Cloud-Y) in two separate departments (A…

A: Lets understand the basics. In direct method, cost of service departments are directly allocated to…

Q: t the end of the first year of operations, 4,600 units remained in the finished goods inventory. The…

A: Under the absorption costing, fixed factory overhead is treated as a product cost and added to the…

Q: Problem 3 Discuss the constant growth DDM. When might it be appropriate to extend the model to allow…

A: The process of figuring out a company's stock's intrinsic worth is called equity stock valuation. To…

Q: Petromax Enterprises uses a continuous review inventory control system for one of its SKUs. The…

A: Given :- Demand = 83200 units /year. Ordering cost = $32.50/order. Holding cost = $3.50/unit/year.

Q: Question 3 At the end of the year, a deductible temporary difference of $40 million has been…

A: When there is a difference in amounts of tax base and accounting base of assets and liabilities it…

Q: Al an interést rate of B% per year, the amount you must deposit in your retirement account for years…

A: Retirement account can be defined as an account which is opened for the purpose of retirement…

Q: Quad Enterprises is considering a new three-year expansion project that requires an initial fixed…

A: The NPV analysis is used to find out the profitability of a project. It discounts the future cash…

Q: Jones Supply Services paid $350 cash, the amount owed from the previous month, to a materials…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: Christy takes out a four year loan from Bank A for $100,000 with annual repayments at the end of…

A: The amortization schedule refers to the breakdown of periodic payments to find out how much amount…

Q: no more risky than this one. Machine A Machine B Original cost Labor per year Maintenance per year…

A: Calculation of present Value of Net Cash Outflow of Machine A Present Value of Net Cash Outflow =…

Q: Cutting is opening a new line of scissors for supermarket distribution. It estimates its fixed cost…

A: Solution: Break even point is that point of a level of volume where the contribution margin becomes…