What is the threshold for reporting a major customer? 5 percent of revenues. 5 percent of profits. 10 percent of revenues. 10 percent of profits.
Q: 1. A company declared a cash dividend on its ordinary shares in December 2020 payable in January…
A: Hi student Since there are multiple questions, we will answer only first question. Dividend is the…
Q: Minden Company is a wholesale distributor of premium European chocolates. The company’s balance…
A: (Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…
Q: Mocha Company manufactures a single product by a continuous process, involving three production…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest…
A: Average Operating assets :— It is the average amount of assets used in the operation of business.…
Q: 31, 2021, Tesla's fair value per share is $1,050 and Alphabet's is $145. John has negligible…
A: Investments are assets held by an enterprise for earning income by way of dividends, interest, and…
Q: True or False 7. Corporations that avail of OSD are allowed to deduct the cost of sales or cost of…
A: Introduction: Rather than tracking all expenses to determine net income. Taxpayers can directly…
Q: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material.…
A: Contribution Margin = it is the part of Marginal Costing. It is the one of the important part of…
Q: what is the revenue and gross profit
A: Revenue is the amount or income which has been earned during particular period of time. Gross profit…
Q: The master budget at Monroe Manufacturing last period called for sales of 43,500 units at $57 each.…
A: Monroe Manufacturing Flexible Budget Sales Revenue…
Q: The auditor of Cubs obtained the following client-prepared bank reconciliation (See Image) The…
A: Potential Issues in Bank Reconciliation To find any discrepancies in the day-to-day transactions,…
Q: Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis…
A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Cane Company manufactures two products called Alpha and Beta that sell for $155 and $115,…
A: In case of limited resources, contribution margin per unit of limited resource will be calculated…
Q: A company's ledger accounts and their end-of-period balances before closing entries are posted are…
A: Closing entries are those journal entries which are passed at the end of the period in order to…
Q: Problem 5 - Property Plant and Equipment Requirements: Calculate the (A) Cost Basis, (B) Straight…
A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…
Q: The owner of a large machine ship has just finished its financial analysis from the prior fiscal…
A: Introduction: Inventory is an asset that is intended to be sold during routine business operations.…
Q: Acme Ltd is a company in the chemical industry, situated near the Werribee River. Its year end is…
A: Business risks are the risks arising from particular situations, events, conditions, activities, and…
Q: The Gilster Company, a machine tooling firm, has several plants. One plant, located in St. Cloud,…
A: Overapplied overhead happens whenever the overall sum of factory overhead costs attributed to the…
Q: 29. On January 1, 2017, Denner Company granted stock options to officers and key employees for the…
A: Compensation Expenses :— Compensation Expense means all expenses and costs associated with…
Q: Pretend that you are saving up for a down payment on a car or house. Pretend that we get an…
A: A savings account seems to be an account that is opened by a salaried person. It is a very basic…
Q: Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as…
A: Introduction: The main goal of variance analysis is to identify differences between expected and…
Q: Ford Company reports depreciation expense of $40,000 for Year 2. Also, equipment costing $150,000…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: P11.49A (LO 4. 5) Return on investment is often expressed as follows: ROI Controllable margin…
A: ROI :— Profit Margin * Assets Turnover Return on investment or return on costs is a ratio between…
Q: Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: 16) Alice is an attorney and earned $175,000 from her practice in the current year. Alice also owns…
A: Introduction: Adjusted Gross Income (AGI) is defined as gross income less income adjustments. Your…
Q: Requirement 7. Calculate the following ratios as of January 31, 2025 for Milton Delivery Service:…
A: Return on Assets: Return on assets (ROA), which is often referred to as return on total assets, is a…
Q: i) Explain three strengths identified within Unilever ltd purchasing transaction cycle based on the…
A: An organization must have good internal controls in place in order to reduce the risk of fraud.
Q: On January 1, 20X2 Pepper purchased 100% of Salt Corporation’s outstanding shares for cash of…
A: Consolidated Financial Statements :— Consolidated Financial statement means the grouping of all…
Q: The following information relates to ABC Pty Ltd, a business that manufactures electric products…
A: There are two ways of making a cash flow statement direct and indirect. The difference between them…
Q: Sweet Tooth Candy Company budgeted the following costs for anticipated production for August:…
A: Fixed cost is the cost which remains constant in total. Variable costs varies in total based on…
Q: TB MC Qu. 5-124 (Algo) The controller of Hendershot Corporation estimates... The controller of…
A: Overhead costs are form of indirect costs and expenses being incurred in business. These costs can…
Q: A performance report for the Exeter hotel for the three months ending 30 June 2022 showed: Actual £…
A: Master Budget - A budget is an estimate of income and expenses for a specific time period. The…
Q: 1. 1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. 2. A…
A: Accounting Equation: Asset=Liabilities+Equity
Q: Given the following cost and activity observations for Smithson Company's utilities, use the…
A: The high-low method is used to calculate variable and fixed costs from a semi-variable cost.…
Q: What is the recorded cost of the patent? Total Capitalized cost=
A: As per IAS 16 any cost directly associated with the product to bring to its intended use and desired…
Q: Which of the following is subtracted from income when using the indirect method to determine cash…
A: Cash flow statement is a report, which shows the cash incoming and cash outgoing during a…
Q: 8 Johnson Company acquires land and building for $4,000,000 including all fees related to…
A: Introduction: A cost known as a capitalized cost is an expense that raises a fixed asset's cost…
Q: Cutter Enterprises purchased equipment for $54,000 on January 1, 2021 The equipment is expected to…
A: Lets understand the basics. In double declining depreciation method, depreciation is calculated at…
Q: A building acquired at the beginning of the year at a cost of $93,200 has an estimated residual…
A: Depreciation is the expense which is reported in the income statement under the expenses head. It is…
Q: Westerville Company reported the following results from last year’s operations: Sales $…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Golden Corporation contemplates to market a new product. Estimated fixed costs is P1,000,000. The…
A: Introduction: A fixed cost is something that does not change with the amount of goods or services…
Q: Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard…
A: Material variances arises when the estimated and actual cost incurred on the material costs is…
Q: 9.7 Corporate Taxes Sheridan 3D printing company has had $145,000 in revenue for 2020 but also had…
A: There taxes on the income earned by the corporate in the country. But the expenses are to be…
Q: Elite Lawn & Plowing (EL&P) is a lawn and snow plowing service with both residential and commercial…
A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…
Q: 1. Prepare Income Statement and Balance Sheet dated 31 July 2022 by using the following accounts.…
A: Introduction: Financial statements are written papers that summarize the commercial activities and…
Q: 1/(1 + r)t is the formula for: Question 22 options: The compounding factor The risk-free…
A: I have given all formulas that has been given in options
Q: Which one of the following statements is correct? Select one: a. The net change in the…
A: Consolidated Financial statement :— The Grouping of Financial statement by the Parent Company along…
Q: The purpose of recording depreciation expense is to provide cash necessary to replace plant…
A: Depreciation expense is the non-cash outlay which is recorded on the fixed assets to report their…
Q: Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to nce when the net…
A: Debit Column of Balance Sheet :— All the assets are recorded in debit column of balance sheet. Debit…
Q: Question 5.1…
A: The four key business metrics that are measured by the balanced scorecard are learning and growth,…
Q: Golden Corporation contemplates to market a new product. Estimated fixed costs is P1,000,000. The…
A: Introduction: After deducting costs, allowances, and taxes, net revenue is the money earned by an…
Step by step
Solved in 2 steps
- 1. Assuming that sales revenue is increases by 10 percent, calculate the net income of DEF Company, 2. assuming that sales revenue is increases by 10 percent, find out the net income of ABC Company.A rate is made up of claims, retention and profit. If 80% of a rate is claims, and retention equates to 20% of claims, what percent is left over for profit?What is the minimum number of operating segments that must be separately reported?a. Ten.b. Segments with at least 75 percent of revenues as measured by the revenue test.c. At least 75 percent of the segments must be separately reported.d. Segments with at least 75 percent of the revenues generated from outside parties.
- Accounting QuestionChoose the correct. What is the minimum number of operating segments that must be separately reported?a. Ten.b. Segments with at least 75 percent of revenues as measured by the revenue test.c. At least 75 percent of the segments must be separately reported.d. Segments with at least 75 percent of the revenues generated from outside parties.2. What is the Pre-tax returns on Sales if the customer retention changed to 75%?
- If a company gains 40 $ for every 1000$ in revenue for a certain product, what is the profit margin for that product? 4 percent - 4 percent 4 $ - 4 $5. For common-size statement of comprehensive income , _______________ is set 100% a. Net Sales b. Gross Profit c. Net Income d. Total AssetPresented below is information for Blossom Company for the month of January 2017. Cost of goods sold $202,200 Rent expense 6,400 Sales discounts $33,600 Freight-out 8,100 Insurance expense 12,500 Sales returns and allowances 17,600 Salaries and wages expense 64,000 Sales revenue 395,500 Income tax expense 4,200 Other comprehensive income (net of $400 tax) 2,000
- Where do you get 1.10 the one you multiple by 30% of gross profitThe following information relates to a company for two periods: year 1; profit- GHC131250, sales- GHC1375000; year 2; profit- 225000, sales- GHC1750000. What is the sales level to earn a profit of GHC262500? O A. GHC2000000 OB. GHC1500000 OC. GHC1900000 D. GHC1000000Calculate :1.gross profit percentage on cost. 2. Net profit percentage 3. Debtors collection period in days 4 acid test ratio 5. Current ratio