Why do we call accounting "the language of business"? Hint: Think in terms of the purpose of accounting.

Q: Question 2 Presented below are the year-end balances at December 31 of Fast Forward. (All accounts…

A: Approach to solving the question:For ease of understanding, I have provided solutions in both text…

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A: Step 1: Understand Definition of Work-In-Process:Work in process refers to the amount of the…

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A: Detailed explanation: • If a supermarket loses its inventory, the particular kind of inventory that…

Q: Compute total manufacturing costs and total cost of work in process for this accounting question.

A: Step 1: Define Work-In-Process InventoryThere are three type of inventory involved in a business,…

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A: Explanation: In the given question, the balance of Accounts receivable is given as $592,700 before…

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A: Step 1:- Define Cost AllocationCost allocation is a means of delivering assistance to the cost…

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A: Step 1: Define Total ReturnTotal return gauges an investment's performance over a certain time…

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A: Explanation of Adjusting Entry:An adjusting entry is a journal entry made at the end of an…

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A: The Discounted Cash Flow (DCF) method is a valuation method used to estimate the value of an…

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A: Step 1: Requirements of the questionWe need to determineIncome before taxes as per cash and accrual…

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A: Explanation of Financing Activity:Financing activities in the Statement of Cash Flows involve…

Q: Financial Accounting Question no 12

A: Step 1: Define Operating Cash Flow:Operating cash flow is a pivotal indicator of a company's…

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A: The Consolidated Fund Cash Flow Statement for the year ended 31 December 2021 shows a positive net…

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A: Step 1: Define LiabilitiesLiabilities refer to the amount owed by a company. The liabilities are…

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A: Step 1: Define Interest ExpensesA firm's ongoing expenses related to debt financing are interest…

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A: To calculate the investor's rate of return on the bond investment, we can use the following formula…

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A: Step 1: Understanding the Transaction Crane Co. provides environmental consulting services to…

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A: Step 1: Define Price-earnings RatioThe Price-earnings ratio is a key ratio to be looked into while…

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A: a)Non-controlling interest:ParticularsAmountPreferred Stock$2,200,000Dividend rate8%Non-controlling…

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A: Step 1: Define Depreciation ExpenseIn accounting, depreciation expense spreads the cost of assets…

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A: Step 1:Determine the Total Appraised ValueStep 2:Determine the Proportion of the Building's…

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A: Step 1:- Define Earnings Per ShareEarnings per share (EPS) is a fundamental financial metric that…

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A: Approach to Solving the QuestionTo approach the question about the Series 7 General Securities…

Q: Accumulated depreciation is classified as a(n): a) Contra-asset b) Expense c) Liability d) Asset

A: Explanation of Contra-Asset:A contra-asset account is an account that reduces the value of an asset.…

Q: ABC Company sold 3,000 units in October at a sales price of $45 per unit...

A: Step 1: Define Contribution Margin AnalysisThe contribution margin analysis is used for the…

Q: 5 Use the information below to prepare a cash budget for June. The beginning cash balance on June 1…

A: Step 1:The cash budget for the month of June is prepared as follows: Formula table:  Result of the…

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A: Step 1: Based on the supplied Sales and Product columns, the following SQL query determines the…

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A: Step 1: Define Return On AssetReturn on asset (ROA) is a profitability ratio to measure how much net…

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A: Step 1: Calculate the share of South Company's net incomeGrant, Inc. owns 40% of South Company.South…

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A: Explanation of Earned:Revenue is considered earned when a company has fulfilled its obligations to a…

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A: Explanation of Gross Sales:Gross sales represent the total revenue generated from sales before…

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A: Steps to Calculate the Missing Warranty Expense and Adjustments for Current Year1. Warranty Expense…

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A: Step 1: Define Degree of Operating LeverageDegree of Operating Leverage (DOL) is shows the…

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A: Let's walk through the detailed calculations for each building.1. Building A (Purchase for…

Q: Compute free cash flow and the cash flow adequacy ratio.

A: Step 1: Define Cash Flow Adequacy:The capacity of a business or organization to earn enough cash…

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A: Step 1: Define BondsA bond is a long-term debt asset that may be a coupon-paying bond or zero-coupon…

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A: Step 1: Introduction to stockholders' equityStockholders' equity refers to the residual value of the…

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A: Step 1: Calculate Operating IncomeIn this step, you find out how much money the company earns from…

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A: Step 1: Introduction to the Account ReceivableAccount receivable can be defined as the amount of…

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A: Case A: preparation of estimated contribution income statement bu considering changes in the direct…

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A: Liquidity refers to the ability of a company to meet its short-term obligations. It is measured…

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A: Formula: PV = FV ÷ (1 + r)nGiven:Present value (PV) = ?Future value (FV) = $450Interest rate (r) =…

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A: Step 1: Define Variable CostsVariable product costs are costs that depend on the sales or production…

Q: Ans

A: Operating Margin = Operating Income/Revenue Operating Margin = 30,000/100,000 Operating Margin = 30%