The US GAAP provides rules and guidance for what two primary financial reporting purposes?

Q: INSTRUCTIONS: Create a pro-forma income statement based on the given problem Supply the given items…

A: Based on the the above data we need to classify the same and prepare the income STatement

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Q: break-even point

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Q: Required information [The following information applies to the questions displayed below] Golden…

A: A cash flow statement indicates cash inflow and cash outflow information of a particular time…

Q: 2. ABC Company purchased an entity for P6,500,000 cash at the beginning of the current year. The…

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Q: /v ratio, variable cost and, profit Sales 80000 Fixed expenses 15000 Break even point 50000

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A: The component auditor represents the auditors who would perform the audit function on a financial…

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A: Depreciation- In accounting depreciation refers to allocating the cost of assets over their useful…

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Q: Hayes Co is considering selling off one of its subsidiaries, Fran Ltd., and would like to value its…

A: Hayes Co is considering selling off one of its subsidiaries Fran Ltd. and wants to value inventory…

Q: REQUIRED: • PREPARE THE CORRECT INCOME STATEMENT • PREPARE THE CORRECT BALANCE SHEET

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A: Variance analysis includes the comparison of actual and standard data in order to find the deviation…

Q: . Mr. Arman deposited into bank Rs.50,000 to start a business 2. Purchased office supplies worth…

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

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Q: 31.The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1: Accounts…

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Q: The income for 2021 is P51,750 before charging partners' salary allowances and before payment of…

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A: Cash flow statement: It is a statement, which shows the flows of cash and cash equivalents for a…

Q: ABC Store purchased P100,000 from XYZ Supplies on July 1, 20X1. Terms: 5%, 3%, 2/15, n/30. FOB…

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Q: 4. A, B, C, and D are partners, sharing earning in the ratio of 3/21, 4/21, 6/21, and 8/21,…

A: Answer:-  Partnership meaning:- A partnership can be defined as the formal agreement between two or…

Q: INSTRUCTIONS: Create a pro-forma income statement based on the given problem Supply the given items…

A: Net profits: Net profits is the amount determined after preparing the income statement when the…

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Q: Trial balance. Debit balances 10,700 Cash Accounts receivable 23,750 Supplies Equipment Accumulated…

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Q: On June 5, Staley Electronics purchases 100 units of inventory on account for $10 each, with terms…

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

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A: Introduction: A multi-step income statement calculates income in several steps, hence it is called…

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Q: A carpenter produced 200 sofas which he sold at k5000/ sofa, he incurred k5000 on raw materials, he…

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Q: This year's final paycheck will be issued on the last Friday of December. If you report the wages…

A: Answer:-  Matching principle meaning:- Matching principle basically states that the organization…