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Q: Proposal #1 would extend trade credit to some customers that previously have been denied credit beca...
A: Since we answer up to three sub-parts, we shall answer the first three. Please resubmit a new questi...
Q: 6. 8. 7. 2,000 1,800 1,600 1. End of Year 1,400 1,200 1,000 2,272 2,272 2,272 2,272 Revenue 500 500 ...
A: NPV=present value of net cash flows net cash flows=Revenue-Expenses-Cost
Q: s it true that legal enforceability of a right, for example ownership, is necessary for control over...
A: Legally enforceable right states that the right to set off need to be contingent on the future event...
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A: Petty Cash: It is a little sum of money that may be used to cover costs that aren't worth sending a ...
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A: Rate per problem tested $1.50 Rate per hour $10.20 Whichever is higher.
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A: SOLUTION- BREAK EVEN POINT IS THE POINT AT WHICH TOTAL REVENUE EQUALS TO TOTAL COST OR EXPENSES.
Q: Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate cost...
A: Calculations: Caring for lawn = $72,000 / 150,000 = $0.48 per square ft of lawn Caring for garden be...
Q: At December 31, A and B are partners with capital balances of P40, 000 and P20, 000, and they share ...
A: Solution: Total partnership capital after admission of C = (P40,000 + P20,000) + P17,000 = P77,000 R...
Q: During 2021, Tartarus Company signed a noncancellable contract to purchase 500 sacks of rice at P900...
A: Solution: Amount of Purchases should be recorded on May 9, 2022 = Nos of sacks purchases * Price per...
Q: Services were performed on account for a client for $ 800. Accounts Receivable was debited for $ 800...
A:
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A: Unsecured claims on priority=Accrued Salaries+Income tax=P 15,000+P 35,000=P 50,000
Q: How much is the estate tax?
A: The law states that one can withdraw the bank deposits of a deceased person after settling the payme...
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A: The partnership comes into existence when two or more persons agree to do the business and share pro...
Q: What is the amount received by partner F on January 31, 2021?
A: Realization account Particulars Amount Particulars Amount To assets 40,000,000 By Liabi...
Q: Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate cost...
A: Activity Rate = Estimated Overhead Cost / Expected Activity
Q: Required information [The following information applies to the questions displayed below.] The follo...
A: SOLUTION- BANK RECONCILIATION STATEMENT IS A SUMMARY OF BANKING AND BUSINESS ACTIVITY THAT RECONCIL...
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A: Taxable estate = Gross estate - deduction Gross estate includes all property, real or personal, tang...
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Q: Proposal #1 would extend trade credit to some customers that previously have been denied credit beca...
A: Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts...
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A: The commission is provided to sales agents on the basis of sales.
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A: Maturity Value = Principal + (Principal * Rate * Time) = P 600,000 + (P 600,000 * 0.10 * 6/12) = P 6...
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A: Here is the Answer
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A: SOLUTION- ACCOUNTS PAYABLE ARE AMOUNT DUE TO VENDORS OR SUPPLIERS FOR GOODS OR SERVICES THAT HAVE NO...
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A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...
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A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
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A: The accounting is a process to identify, classify and record the transactions of the business and to...
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A: I am answering the first 3 sub-parts of the question as per bartleby guidelines. Please re-submit th...
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Q: Which of the following statements is correct with regard to drawing accounts that may be used by a p...
A: Partnership is an association or agreement between two or more than two persons. Partners can also w...
Q: 1/3 of Milo's money was 4/5 of Alan's money. If Milo gave $18 to Alan and he returned $4 to him a fe...
A: Lets Assume Milo have at first X Money and Alan have at First Y money 1/3 X = 4/5Y So Y = 5/12X
Q: A company records inventory at gross invoice price. Theoretically, how should the following affect t...
A: Solution: Interest on inventory loan do not affect cost of inventory, it is working capital loan tak...
Q: If C received P2,255,000. How much was the loss from the realization of the noncash assets?
A: Capital balance Particulars Cash Non cash assets Outside Liab A C J (Balance+ liab-cash) 2...
Q: During 2021, Tartarus Company signed a noncancellable contract to purchase 500 sacks of rice at P900...
A: Recovery of loss on purchase commitment = (P880-P850) x 500 sacks = P30 x 500 = P15,000
Q: CASH PAYMENTS JOURNAL Account Debited Purchase Discount(Cr) RM Date Cash (Cr) RM Bank (Cr) RM 2020 J...
A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger mean...
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- Framing House, Inc. produces and sells picture frames. Variable costs are expected to be $15 per frame; fixed costs for the year are expected to total $170,000. The budgeted selling price is $23 per frame. The sales dollars required to make a before-tax profit (πB) of $21,000 for Framing House would be:The firm’s tentative budget for next year includes: Sales- ₱400,000; Variable Expenses-₱250,000; Fixed Manufacturing Overhead- ₱80,000; Selling and Administrative Expenses-₱150,000. With a tax rate of 25%, the forecasted net income is ₱52,500. Mr. Bong, the marketing manager proposed an aggressive advertisement costing additional ₱25,000 that he predicts will result in a 25% unit sales increase. Assuming that Bong’s proposal will be incorporated into the budget, what should be the increase in the budgeted net income for next year? a. ₱12,000 b. ₱25,000 c. ₱103,125 d. ₱56,250 e. ₱37,500Fazel Company makes and sells paper products. In the coming year, Fazel expects total sales of $19,730,000. There is a 3% commission on sales. In addition, fixed expenses of the sales and administrative offices include the following: Salaries $ 960,000 Utilities 365,000 Office space 230,000 Advertising 1,200,000 Required: Prepare a selling and administrative expenses budget for Fazel Company for the coming year. What is the answer for variable selling expenses? Total selling and administrative expenses?
- Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $1,760,000 based on a sales volume of 260,000 video disks. Disk City has been selling the disks for $19 each. The variable costs consist of the $8 unit purchase price of the disks and a handling cost of $2 per disk. Disk City’s annual fixed costs are $580,000. Management is planning for the coming year, when it expects that the unit purchase price of the video disks will increase 30 percent. (Ignore income taxes.) Q. What volume of sales (in dollars) must Disk City achieve in the coming year to maintain the same net income as projected for the current year if the unit selling price remains at $19? (Do not round intermediate calculations. Round your final answer to the nearest whole number.)Two businesses, P Ltd. and Q Ltd. sell the same type of product in the same type of market. Their budgeted profit and loss accounts for the coming year are as under: P Ltd. (Rs.) Q. Ltd. (Rs.) Sales 150000 150000 Variable Cost 120000 100000 Fixed cost 15000 35000 Budgeted Net profit 15000 15000 You are required to: Calculate the break-even point for each business Calculate the sales volume at which each business will earn Rs.5,000 Profit. State which business is likely to earn greater profit in conditions of: Heavy demand for the product Low demand for the product,and,briefly give your argument as well.Two businesses, P Ltd. and Q Ltd. sell the same type of product in the same type of market. Their budgeted profit and loss accounts for the coming year are as under: P Ltd. (Rs.) Q. Ltd. (Rs.) Sales 150000 150000 Variable Cost 120000 100000 Fixed cost 15000 35000 Budgeted Net profit 15000 15000 You are required to: Calculate the break-even point for each business Calculate the sales volume at which each business will earn Rs.5,000 Profit. State which business is likely to earn greater profit in conditions of: Heavy demand for the product Low de
- During the current year, OutlyTech Corp. expected to sell 24,000 telephone switches. Fixed costs for the year were expected to be $12,144,000, the unit sales price was budgeted at $3,200, and unit variable costs were budgeted at $1,440.OutlyTech's margin of safety (MOS) in sales dollars is:Framing House, Inc. produces and sells picture frames. Variable costs are expected to be $14 per frame; fixed costs for the year are expected to total $180,000. The budgeted selling price is $22 per frame. The sales dollars required by Framing House to make an after-tax profit (πA) of $15,000, given an income tax rate, t, of 20 percent, would be (round intermediate calculation(s) to nearest whole number; round units up to nearest whole number):Wayne Inc. expects to maintain the same inventories at the end of the year as the beginning of the year. The estimated fixed costs for the year are P288,000, and the estimated variable costs per unit are P14. It is expected that P60,000 units will be sold at a price of P20 per unit. Maximum sales within the relevant range are 70,000 units. Instructions: 1. What is (a) contribution margin ratio and (b) the unit contribution margin. 2. Determine the break-even points in units. 3. Construct a cost- volume- profit chart, indicating the break-even point. 4. Construct a profit- volume chart, indicating the break-even point. 5. What is the margin of safety.
- A firm estimates that it will sell 100,000 units of its sole product in the coming period. It projects the sales price at P40 per unit, the CM ratio at 70 percent, and profit at P500,000. What is the firm budgeting for fixed costs in the coming period?"Disk City, Inc., is a retailer for digital video disks. The projected net income for the current year is $200,000 based on a sales volume of 200,000 video disks. Disk City has been selling the disks for $16 each. The variable costs consist of the $10 unit purchase price of the disks and a handling cost of $2 per disk. Disk City’s annual fixed costs are $600,000. Management is planning for the coming year, when it expects that the unit purchase price of the video disks will increase 30 percent. (Ignore income taxes.). "Required: 1.Calculate Disk City’s break-even point for the current year in number of video disks. 2.What will be the company’s net income for the current year if there is a 10 percent increase in projected unit sales volume? 3.What volume of sales (in dollars) must Disk City achieve in the coming year to maintain the same net income as projected for the current year if the unit selling price remains at $16? 4.In order to cover a 30 percent increase in…Fronteeth Corp. plans to sell 500,000 units of a product at a price of P19.50 per Fixed costs for the period have been budgeted at P750,000. The profit after tax has been budgeted at P480,000 with an income tax rate of 40%, In order to meet the above requirements, how much should be the variable cost per unit?