Question: 3 points Manoj Corporation provided services $80,000, received advance $15,000, and outstanding fees $25,000. Present the income recognized for services.
Q: Please given answer Accounting question
A: Step 1: Define Reserve RatioBanks cannot lend all the deposits they receive, they need to keep a…
Q: Give the Earned Commission
A: To calculate the commission earned: Step 1: Total weekly salesTotal weekly sales= Paintings +…
Q: General Accounting
A: Step 1: Define Overhead BudgetThe Overhead Budget is a financial plan developed to anticipate or…
Q: The following data relates to Bands Are Us. Inc. for the 31, 2015: Ending inventory at cost $ 54,000…
A: Adjusted COGS for Bands Are Us Inc.The problem states:Ending inventory at cost: $54,000Ending…
Q: Accounting question
A: Step 1: Define Cost-Volume-Profit AnalysisThe cost volume profit (CVP) analysis is a management…
Q: Which method measures depreciation directly? Oa. Sales comparison Ob. Cash equivalency O c. Age-life…
A: Depreciation is the systematic allocation of the cost of a tangible or physical asset over its…
Q: Kingery Sales Company has the following selected accounts after posting adjusting entries: Accounts…
A: Step 1:The current liability section of the Kingery Sales Company's balance sheet is prepared as…
Q: Barbara Jones is preparing the 2022 budget for one of Current Designs' rotomoulded kayaks. Extensive…
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Please provide correct answer accounting
A: Step 1: Define Variable Versus Fixed OverheadVariable overhead includes overhead costs which change…
Q: The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of…
A: On January 1, the company sold inventory for cash. This transaction affects the Cash, Sales Revenue,…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Account ReceivablesWhen a firm sells its items to its consumers on credit, the…
Q: Hi tutor please help: NO AI use for this cost account questions
A: Explanation: In the given case, we are required to calculate the amount of gross profit from the…
Q: General Accounting Question
A: Part (a): Length of the Cash Conversion CycleStep 1: Use the formulaCCC = Inventory Conversion…
Q: What makes forensic accounting distinct from regular auditing?
A: Explanation of Forensic Accounting:Forensic accounting refers to a specialized area of accounting…
Q: How would brought 125 inner tubes for $1225, paying down $500 with remaining due in 20 days be…
A: In this transaction, there are three accounts involved:Inventory: This is an asset account that will…
Q: Give me answer
A: Explanation of Forensic Accounting: Forensic accounting is a specialized field that combines…
Q: Accounting Method solution
A: Step 1: Detailed Definition of High-Low Method:The high-low method is the cost-splitting method…
Q: Nicholas earned 11.5...accounting questions
A: Step 1: Given Value for Calculation Before Tax Rate of Return = 11.5%Tax Rate = 27% Step 2:…
Q: Explain Please
A: Explanation of Accounting Estimates: Accounting estimates are approximations of financial…
Q: Monopoly Journal Entry I need help in doing some Journal entries using accrual accounting based on…
A: In accrual accounting, revenues and expenses are recorded when they are earned and incurred,…
Q: The bottling departme...accounting question
A: Step 1: Define Work-in-process inventoryWhen the company's unfinished goods or work in progress are…
Q: What was the company's cash coverage ratio for the year on these financial accounting question?
A: Step 1: Define Cash Coverage RatioThe cash coverage ratio aids in figuring out the quantum of cash…
Q: General accounting
A: Step 1: Define Financial RatiosFinancial Ratios are analysis of financial statement accounts and…
Q: ?
A: a) When the parent owns 100 percent of a subsidiaryIn such an instance, no partial recognition of…
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: ACME company's financial account details
A: the amount at which the widgets will be reported on the balance sheet under the lower of cost or…
Q: Financial accounting
A: Step 1: Define Manufacturing CostsManufacturing costs are production costs that incur during the…
Q: Need help with this question solution general accounting
A: Step 1: Define Operating LeverageThe operating leverage is the ratio of the contribution margin and…
Q: Answer me
A: Explanation of Economic Substance Doctrine: The economic substance doctrine is a fundamental tax…
Q: Answer this
A: Explanation of Virtual Transactions: These are financial exchanges that occur entirely in digital…
Q: Presented below is information related to plant assets, natural resources, and intangibles at year…
A: Step 1:Balance sheet is the statement prepared at last which shows that total assets are equal to…
Q: Consider the Redwing Automotive total cost information summarized in the following table. Please…
A: Step 1: Define Landed CostThe cost which included the cost from manufacturing the products to…
Q: General Accounting Question need Answer
A: Step 1: Identify Credit Factors• Base credit per qualifying child: $1,000• Number of qualifying…
Q: Question 9
A: Explanation of Average Cost Method: The average cost method is an inventory valuation technique used…
Q: The following information relates to a retailer business need solve this question
A: Step 1: Define Cost of Goods SoldThe value of the cost of goods sold during a given period may be…
Q: Step by step ans
A: The total production cost of a bouquet is by adding the material used, filler cost, ribbons cost,…
Q: ACME Company purchases for resale 1,000 widgets for $64 each. At year- end, the replacement cost is…
A: Step 1: Determine the cost per widgetStep 2: Determine the replacement cost per widgetStep 3:…
Q: Blue Construction Co. successfully tendered for a 3-year contract to erect some warehouse facilities…
A: Explanation of the Workings:1. Cost to Date: This is the cumulative cost incurred for the project up…
Q: None
A: a. Net FUTA tax:FUTA taxable payroll: $749,080 - $464,150 = $284,930Net FUTA tax: $284,930 * 0.006 =…
Q: The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of…
A: A T-account is a visual representation of a ledger account. The account title is written at the top,…
Q: Westerville company. ....accounting questions
A: Step 1: Define Contribution MarginA contribution margin income statement shows the contribution…
Q: The following financial information this question solution
A: Earnings Per Share (EPS):EPS is the profit got for share on an ordinary basis. The amount of…
Q: Present the total concession revenue.
A: Explanation of Concession Revenue: Concession revenue represents the income generated from selling…
Q: Hii need your help
A: Definitions Related to the Question:Traditional Accounting Systems: Traditional accounting systems…
Q: Received bills totaling $1320 for grand opening/fourth of July party. The bill from party rentals…
A: In this transaction, there are three accounts involved. They are:Party Expenses: This account will…
Q: I want to correct answer general accounting
A: Step 1: Formula Weighted average of the company's debt = Total market value of the company's…
Q: Hi Tutor can you help this account questions? find out true solution
A: Question 1: Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the total cost of…
Q: Give me accurate response
A: IntroductionWhen companies issue bonds to raise capital, the price at which the bonds are issued can…
Q: Financial accounting
A: Step 1: Define Bonds PayableThe financial obligation of the issuer toward the bondholders for the…
Q: Hello tutor please hepl me this question ❓
A: Step 1: Define Shareholders EquityShareholders' equity is the owner's claim on the assets of the…
answer the accounting question
Step by step
Solved in 2 steps
- Don't give answer in image formatAnswer to below questionPLEASE USE THIS INFORMATION TO FILL OUT FORM 1040 Gross Income: Salary $38,000 Alimony received $14,400 Rental receipts $50,000 Disability insurance payments $1,200 Interest income from corporate bonds $2,200 Interest income from municipal bonds $0 (1) Gross income $105,800 Deductions for AGI: Expenses for rental property $19,500 (2) Total for AGI deductions $19,500 (3) AGI $86,300 From AGI deductions: Medical expenses $4,358 State income taxes $6,590 Charitable contributions $14,240 (4) Total itemized deductions $25,188 (5) Standard deduction $18,800 (6) Greater of itemized deductions or standard deductionselected answer correct $25,188 (7) Taxable income $61,112 (8) Tax on taxable income $7,741 (9) Credits $(685) (10) Tax prepayments $11,380 Tax refundselected answer correct $(4,324)
- Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows: Cash Accounts Receivable Inventory of Supplies Land Plant and Equipment Accumulated Depreciation Vouchers Payable Bonds Payable, 6% Net Position: Invested in Capital Assets, Net of Related Debt Unrestricted Total Additional Information for 20X1: Debit $ 93,100 26,100 8,500 Credit 121,600 488,000 $ 81,000 16,500 510,000 18,600 111,200 $737,300 $737,300 1. Charges to customers for water and gas were $420,200; collections were $433,800. 2. A loan of $30,600 for two years was received from the general fund. 3. The water and gas lines were extended to a new development at a cost of $76,700. The contractor was paid. 4. Supplies were acquired from central stores (internal service fund) for $12,800. Operating expenses were $328,200, and interest expense was $30,600. Payment was made for the interest and the payable to central stores, and $326,700 of the vouchers were paid. 5. Adjusting…A statement of affairs shows $30,000 of assets pledged to partially secured creditors, liabilities of $65,000 to partially secured creditors, liabilities of $25,000 to unsecured creditors with priority, and liabilities of $90,000 to other unsecured creditors.What are total unsecured liabilities, as reported on the statement of affairs? Select one: a. $155,000 b. $100,000 c. $ 90,000 d. $125,000Tamar owns a condominium near Cocoa Beach in Florida. In 2022, she incurs the following expenses in connection with her condo: Insurance Advertising expense Mortgage interest Property taxes Repairs & maintenance Utilities Depreciation $1,000 500 3,500 900 650 950 8,500 During the year, Tamar rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the condo for 35 days during her vacation. Tamar's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Tamar uses the IRS method of allocating expenses to rental use of the property. Required: a. What is the total amount of for AGI (rental) deductions Tamar may deduct in the current year related to the condo? b. What is the total amount of itemized deductions Tamar may deduct in the current year related to the condo? c. If Tamar's basis in the condo at the beginning of the year was $150,000, what is her basis in the…
- Answer is $5,400,000 Please explain the reasoning and calculationsQuiz History: On-line Test Ch. 9, 10&11 A Quiz: On- Question 23 2 pt Journalize this transaction: Payroll cost was $12,000, there was Federal Income Tax withheld of 1,200 and FICA withheld of $900 Edit View Insert Format Tools Table 12pt v Paragraph v BIU A v O words Question 24 2 ptswner contributed computer costing RO. 9000, inventory worth OR 8000 and in cash OR 32000 . What is his Capital ? Select one: a. OR 49000 b. OR 8000 c. OR 32000 d. OR 39000 Rent revenue received OMR 3500 by cheque . The correct entry--- Select one: a. CASH A/C DR RENT A/C CR b. BANK A/C DR RENT A/C CR c. RENT A/C DR CASH A/C CR d. RENT A/C DR BANK A/C CR If a business has purchased goods for OMR 50000 and 25%was on account . Find out value of account payable? Select one: a. OMR 12500 b. OMR 50000 c. OMR 37500 d. OMR 32500
