Question: 2 Dillard Company starts the year with $10,000 in its cash account, $10,000 in its equipment account, $2,000 in accumulated depreciation, and $18,000 in its retained earnings account. During the year Dillard sells the equipment for $8,570. After the sale of equipment is recorded, the retained earnings account will have a balance of $
Q: ??
A: When the hedged transaction finally occurs, the amount is then reclassified from OCI to the income…
Q: Solve these general accounting question
A: Step 1: Define Cost, Profit and RevenueThe cost of any product is the money spent in producing the…
Q: Need answer
A: Step 1: Define High-Low MethodHigh-Low Method is a method used in separating the variable and fixed…
Q: Research Problem 1. Wonderful Wilderness, Inc., is a tax-exempt organization. Its mission is to…
A: [Your Name] [Your Position] [Your Organization's Name] [Date] Martín Morales Chief Financial…
Q: Financial Accounting 3.7
A: Explanation of Deferred Tax Liability: A deferred tax liability represents future tax payments that…
Q: Only experts answer not use ai on these accounting question
A: Step 1: Define Property, Plant and EquipmentIn property, plant and equipment, an item should…
Q: Use the scenario loaded under additional resources to answer the following question. With reference…
A: ExplanationStep 1: Understanding Other Components of EquityIn a consolidated statement of financial…
Q: Skoff Corporation is a shipping container refurbishment company that measures its output by the…
A: Step 1: Activity Variances are the difference in revenues and expenses due to the difference in the…
Q: Right Answer only
A: Explanation of Lower of Cost or Net Realizable Value (LCNRV): LCNRV is a fundamental accounting rule…
Q: What is its P/E ratio on general accounting?
A: Step 1:- Introduction to the Price-Earnings RatioThe Price-earnings ratio is used to determine…
Q: Groupwork (Compute FIFO, LIFO, Average-Cost—Periodic and Perpetual) Ehlo Company is a multiproduct…
A: We are given the following;Beginning Inventory (1/1): 1,200 units at $3.00 = $3,600Purchase (2/4):…
Q: Give true answer this accounting question
A: Step 1:- Introduction to the PricingThe pricing of a good or service is one of the decisions to be…
Q: Balance required in allowance for expected credit losses account
A: Explanation: The balance required in allowance for expected credit losses account can be calculated…
Q: Help me please asap. Don't use any AI. It's strictly prohibited. Thanks
A: Assets are resources owned by the business that have future economic value. From the list provided,…
Q: A small retailer has the following transaction data: beginning inventory $8,000, purchases $62,000,…
A: Explanation of Cost of Goods Sold (COGS): Cost of Goods Sold represents the direct costs associated…
Q: respond to the following questions: Section 404 of the Sarbanes-Oxley Act of 2002 includes two…
A: IntroductionThe Sarbanes-Oxley Act (SOX) of 2002 is a comprehensive U.S. regulation aimed at…
Q: SEPT 2023 OCT 2022 Attractions Building & Equipment 35,255 33,798 Furniture fixtures…
A: The equipment and separate PPE have accumulated depreciationGiven that equipment accounts for half…
Q: BC 266: EXCEL PROBLEM PR 17-2A:VERTICAL ANALYSIS For 2016, Indigo Corp. initiated a sales…
A: Vertical analysis is a method of financial statement analysis in which each line item is listed as a…
Q: sh.1
A: Computation of revenue and spending variance by comparing the actual resulted income statement and…
Q: What is the pro forma net income expected to be? On these general accounting question
A: Step 1: Define Net IncomeThe difference between the sales revenue and the costs incurred to generate…
Q: General Accounting
A: To determine the premium for growth on Amax Inc. stock based on the given information, we can follow…
Q: Kendrick Anderson Furniture Maker, LLC creates custom tables in Atlanta. Assume that the following…
A: See images for the calculations and graphs
Q: Solve this accounting problem not use ai
A: Step 1: Define Price-Earnings RatioThe ratio of the market price per share relative to the earnings…
Q: EOQ? CALCULATE
A: where:- \( D \) = Annual demand in units (1,200 units)- \( S \) = Ordering cost per order ($100)- \(…
Q: Need help
A: Step 1: Define Applied OverheadApplied overhead refers to the estimated overhead expense. It is the…
Q: Dsnfy is a single taxpayer. She has 29,000 student loan, she paid 308 rach month with 121 of that…
A: Steps to calculate the deduction:Total interest paid: Danfy paid $1,452 in student loan interest for…
Q: On January 1, 2024, Kroll Corporation paid $2,954,000 for 34 percent of the outstanding voting stock…
A: Step 1: Initial InvestmentKroll invested $2,954,000 in Sharon.Step 2: Equity in EarningsSharon's net…
Q: please solve this Question
A: The problem requires the determination of the EPS. Earnings per share (EPS) is a company's net…
Q: solve c
A: Step 1: Present value of the lease payments=$37,231 Calculation of interest Expenses: Interest…
Q: Solve this accounting issue
A: Compute the total overhead first. These are shop costs that are indirectly related to the repair…
Q: tutor give proper solution
A: Step 1: Define Sales revenueSales revenue is the total income generated from selling goods or…
Q: ? Answer
A: Explanation of Segment Reporting: Segment reporting involves presenting financial information…
Q: Below are three independent situations. In August, 2022 a worker was injured in the factory in an…
A: Wesley Co. - Worker Injury LawsuitSituation Overview:A worker injured in an accident is suing Wesley…
Q: answer in short for this account questions
A: Step 1: Identify Relevant Values FIFO Cost (Original Cost): $500,000Estimated Selling Price:…
Q: find true option
A: To determine the gain Anike will recognize on her return for 2013, let's break this down…
Q: Financial Accounting
A: Step 1: Define Standard costThe budgeted cost of a typical manufacturing process serves as a…
Q: Problem: 4-13 A change in accounting estimate is applied? a) Retrospectively b) Prospectively C)…
A: Step 1: Usually, any alternation in accounting policies is applied retrospectively. On the other…
Q: Experts answer
A: Accounting Treatment for Intangible Assets1. Definition of Intangible AssetsIntangible assets are…
Q: What is the amount of net sales from the transactions on these accounting?
A: Step 1: Define Cash DiscountA cash discount is offered by a seller to induce customers to make…
Q: What is the expected price of this stock one year from mow on these accounting question?
A: Step 1: Given Value for Calculation Price to Earning Ratio = per = 14.6Current Net Income = ni0 =…
Q: Green Caterpillar Garden Supplies Inc. has the following end-of-year balance sheet: Green…
A: Given DataCurrent Sales: $13,500,000Net Income: $300,000Sales Growth: 17%Dividend Payout Ratio:…
Q: Please Provide Correct Solution
A: Solution:High Activity Level = July = 8 units shipped and Shipping cost at this level = $3,600Low…
Q: Need your help
A: Explanation of Direct Costs: Direct costs are expenses that can be directly attributed to the…
Q: Correct Answer
A: In accounting, every transaction has an impact on at least two accounts due to the double-entry…
Q: Need help with this accounting question
A: Step 1: Computation of total variable cost per unit by dividing the cost of material and conversion…
Q: During February, the total product cost was: please provide answer accounting question
A: Step 1: Identify the prime cost: $80,000.Step 2: Calculate manufacturing overhead as 40% of the…
Q: Need Answer to this question fast
A: The problem requires the determination of the EPS. Earnings per share (EPS) is a company's net…
Q: Prblm
A: Explanation of Opening Inventory: Opening inventory refers to the value of materials that a company…
Q: Jan. 1 Inventory Apr. 19 Sale The following units of a particular item were available for sale…
A: LIFO method Under the LIFO method, the most recent purchases will be sold first. April 19…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: To qualify for the Earned Income Tax Credit (EITC), you need to meet the following general…
Dillard Company
Step by step
Solved in 2 steps
- Dillard Company starts the year with $10,000 in its cash account, $10,000 in its equipment account, $2,000 in accumulated depreciation, and $18,000 in its retained earnings account. During the year Dillard sells the equipment for $8,570. After the sale of equipment is recorded, the retained earnings account will have a balance of $The following data are given on MNL Corp. Cost of sales per annum P2,200,000Operating expenses (including depreciation Expense) 800,000The company books further reveal that MNL was able to sell an equipment amounting to P250,000 with gain of P50,000. The asset was acquired at P650,000 five year ago. How much should the corporation’s minimum cash balance be if it is to be equal to 15 days’ requirement?5. What is the average age of inventory for Patsy if it has sales of P320,000, an average inventory of P5,333, and cash conversion cycle of 20 days ? Assume that the cost of sales is 55% of Sales.Need help
- Expert ans thisShow Me How Net Present Value Method The following data are accumulated by Geddes Company in evaluating the purchase of $118,900 of equipment, having a four-year useful life: Net Income Net Cash Flow Year 1 $34,000 $58,000 Year 2 21,000 45,000 Year 3 10,000 34,000 Year 4 (1,000) 23,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 12%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar. Present value of net cash flow $fill in the blank 1…The following data are accumulated by Paxton Company in evaluating the purchase of $137,100 of equipment, having a four-year useful life: Net Income Net Cash Flow Year 1 $41,000 $69,000 Year 2 25,000 53,000 Year 3 12,000 40,000 Year 4 (1,000) 27,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 6%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar. If required, use the minus sign to indicate a negative net present value. Present value of net…
- The following data are accumulated by Geddes Company in evaluating the purchase of $131,900 of equipment, having a four-year useful life: Net Income Net Cash Flow Year 1 $28,000 $48,000 Year 2 17,000 37,000 Year 3 8,000 28,000 Year 4 (1,000) 19,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 6%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar. If required, use the minus sign to indicate a negative net present value. Present value of net…The following data are accumulated by Lingle Company in evaluating the purchase of $100,300 of equipment, having a 4-year useful life: Net Income Net Cash Flow Year 1 $31,000 $52,000 Year 2 19,000 40,000 Year 3 9,000 30,000 Year 4 (1,000) 20,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 15%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar. If required, use the minus sign to indicate a negative net present value. Present value of net cash…Give the Correct answer of what is the right option
- The following data are accumulated by Paxton Company in evaluating the purchase of $131,600 of equipment, having a four-year useful life: Net Income Net Cash Flow Year 1 $31,000 $52,000 Year 2 19,000 40,000 Year 3 9,000 30,000 Year 4 (1,000) 20,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 10%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar. If required, use the minus sign to indicate a negative net present value. Present value of net…The following data are accumulated by Paxton Company in evaluating the purchase of $131,600 of equipment, having a four-year useful life: Net Income Net Cash Flow Year 1 $31,000 $52,000 Year 2 19,000 40,000 Year 3 9,000 30,000 Year 4 (1,000) 20,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 10%, determine the net present value for the proposal. Use the table of the present value of $1 presented above. If required, round to the nearest dollar. If required, use the minus sign to indicate a negative net present value. Present value of net…The following data are accumulated by Lingle Company in evaluating the purchase of $180,000 of equipment having a 4-year useful life: Net Income Net Cash Flow Year 1 $51,000 $96,000 Year 2 33,000 78,000 Year 3 15,000 60,000 Year 4 3,000 48,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 a. Assuming that the desired rate of return is 15%, determine the net present value for the proposal. (If required, round to the nearest dollar.) Use the table of the present value of $1 presented above. Present value of net cash flow $fill in the blank 1 Amount to be…