The bank statement for the month of June contains the following data: Total deposits 55,000 Total charges including 48,000 an NSF check of P4,000 and a service charge of P200 All outstanding checks on May 31, including the bank credit, were cleared in the bank in June. There were outstanding checks of P15,000 and deposits in transit of P19,000

Q: Define LIFO conformity rule.

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: Explain the characteristics

A:

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: briefly explain what is meant by breakven points

A: Cost accounting is the part of accounting that helps in determining the total cost of production. It…

Q: Describe about the basic EPS.

A:

Q: Define roadshow

A: Roadshow: Roadshow is a sequence of conferences across diverse towns in which topmost managers from…

Q: Describe WACC and its components.

A: WACC: The weighted average cost of capital (WACC) is a computation of   cost of capitalof a company…

Q: Give an example of each.

A: Cost standard example: The estimation to regulate the entire direct material cost standard and…

Q: oder, Inc. has 100,000 shares of P10 par value common stock and 50,000 shares of P10 par value, 6%,…

A: We know that preference shares are hybrid instruments that have the characteristics of both debt and…

Q: Define General ledger.

A: General ledger is the book containing the accounts and their amounts which are posted from journal…

Q: Define customers

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: Explain the concept of two-dimensional ABC. Support your explanation with a diagram.

A:

Q: Match the terms

A: Accounting principles are the accounting rules which an organization must follow while maintaining…

Q: What is an REA diagram?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Please see images

A: Inventory is the goods and material a business holds for resale. LIFO:-  As the name suggests Last…

Q: Explain an example of internal events.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Suppose that both the direct material and rent costs are tied to the таниfаcturing of the equivalent…

A: Compute the average unit costs for direct materials assigned to 900,000 units as follows:

Q: Explain an example of source documents.

A: Source documents: The documents which contain evidence of accounting data to record the transactions…

Q: List the steps involved in view integration.

A: View Integration: Single model which is created for integrating multiple REA diagrams to provide a…

Q: Explain an example of prepayments.

A: The outflow of money to reduce the liabilities occurred in the current accounting period refers to…

Q: Describe about the concept of COGS.

A: Cost of goods sold (COGS): Cost of goods sold is the accumulate amount of all direct cost incurred…

Q: Explain consignment arrangement with example.

A: Goods in transit: Goods in transit can be described as the inventories which are shipped by the…

Q: Define conversion value

A: Convertibles are a category of financial instruments, such as convertible bonds and preferred…

Q: Describe internal event with example.

A: Definition:   Accounting event: An accounting event is a transaction that is recorded in the books…

Q: What information is provided by a record layout diagram?

A: