Window Dressing is done by (may have more than one answer)? Check All That Apply Financial Analysts Accountants Auditors Managers

Q: You are the division president of Stable Division of Gigabit Inc. Your best friend is the division…

A: 1. Determination of cost allocation method for personal department. It would be appropriate to…

Q: s and uses two activity measures for its costs: the miles driven and the number of customer order.…

A: Cost per mile * miles drive = budgeted cost on miles  $25 * 74 miles = $1850 Cost per order * No.of…

Q: propert tributions. Doug is taxe

A: The taxable income is given as,

Q: REQUIRED: Prepare full (absorption) and variable income statements for the year 2019 and 2020.

A: 2019 2020 Sales  160,000 275,000 Less: Variable expenses      Direct material 50,000 60,000…

Q: 5. Charlie and Brown form a partnership and invest the following assets and liabilities Fair Market…

A: The non cash assets invested by partners are recorded at fair market value, and liabilities related…

Q: The operating budget of the Black Monster company is given below. Sales $425000 Fixed costs $122000…

A: Break-even point = Fixed costs /Contribution margin per unit  where, Contribution margin per unit =…

Q: Familiarization of investment types. Identify keywords if it is; Deposit Fund Bond Stock Property 1.…

A: 1. Collateral - deposits 2. Shareholder - fund 3. Creditor - bond 4. debt holder - bond 5. Equity -…

Q: Sunland Corporation was organized on January 1, 2022. It is authorized to issue 9,600 shares of 8%,…

A: The journal keeps the record for day to day transactions of the business on regular basis.

Q: The business transactions for January, 2020 follow: Jan. 1 Wilson invested P500,000 cash and…

A: The trial balance is prepared to record the final balance of each account of the business as debit…

Q: The following information pertains to Sandhill Corporation. 1.   Balance per bank, July 31, $8,802.…

A: BRS stands for Bank reconciliation. BRS is a statement that is prepared to reconcile the balance as…

Q: The Kramer Company had office supplies on hand of $900 at the beginning of the period, purchased…

A: Supplies expense at the end of the period = Office supplies on hand at the beginning of the period +…

Q: Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts…

A: We are supposed to answer only one question in case of multiple seperate questions in one time…

Q: Red Company reported sales of $8,100,000 in 2010. At the end of the year, the following quality…

A: The question is related to Quality Cost. The quality cost is classified into two 1. Cost of…

Q: Brush Company engaged in the following transactions at the beginning of 2019: 1. Prepare the journal…

A: A journal entry is being used to record any business transaction in a company's accounting records.…

Q: 8. Given the following data, calculate product cost per unit under variable costing. Direct labor S7…

A: Formula: Product cost per unit under variable costing = Direct materials + direct labor + Variable…

Q: On June 30, 2018, Parent Company sold some land to its subsidiary for $240,000. The land had cost…

A: As on December 31,2018 the land is not sold by subsidiary.  Land was sold by subsidiary  to outsider…

Q: 1: What problems do you see when an auditor relies extensively on management’s representations on…

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: The operating budget of the Black Monster company is given below. Sales $425000 Fixed costs $122000…

A: Revised Fixed cost = $122000 - $12100 = $109900

Q: On January 2, 2021, Power Company acquired 90% of the outstanding shares of Solar Inc. at book…

A: When a company purchases more than 51% shares of another company ,…

Q: The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its…

A: A partnership is an agreement in which two or more individuals come together to operate a business…

Q: Wheels, Inc. manufactures bicycles sold through retail bicycle shops in the southeastern United…

A: The whole cost is the total quantity of funds invested to produce some type of outcome. Billing, the…

Q: On April 1, 2021, MNO Company borrowed $15,000 on an 8% note payable. The maturity date of the note…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The most important exemption from the prospectus requirement are the "Accredited Investors"…

A: The Securities Act defines Accredited Investors as an Individuals and their spouses owning net…

Q: Currently, a company can produce 60 units per hour of a particular product. During this hour, move…

A: Cost of goods manufactured:   The cost of goods manufactured is the cost incurred by the company in…

Q: Familiarization of investment types. Identify keywords if it is; Deposit Fund Bond Stock Property

A: Deposit - Safekeeping Safekeeping is keeping the money or any assets  in a safe area, such as with a…

Q: Use the simple interest formula I=Prt and elementary algebra to find the missing quantity in the…

A: Present  Value: The present value (PV) of a future amount of money or stream of cash flows is the…

Q: On January 1, 2014, Uncomfortable Chair Airline (UCA) and No Legroom Airline (NLA) decided to…

A: A transaction is said to have no commercial substance if it is not expected to impact the future…

Q: Material and Labor Variances The following actual and standard cost data for direct material and…

A: Materials Variances Material price variance  = (Standard price-Actual price)×Actual quantity

Q: Selected balance sheet accounts for Tibbetts Company on September 30, 2019, are as follows: $ 48,000…

A: Working capital means difference between total current assets and total current liabilities. It is…

Q: If a customer buys good or services amounting to R3 000 from a business that uses only traditional…

A: Since 'R' is a currency denomination here, it is a South African indirect tax (VAT) based question.…

Q: The following information is available for Fess Company:         Credit sales during 20X1 $ 150,000…

A: Doubtful debts relate to the total amount of account receivable thata company deems to be…

Q: Equipment was acquired at the beginning of the year at a cost of $562,500. The equipment was…

A: Straight-Line Method: This technique of calculating depreciation and amortization, which is the…

Q: Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near…

A: Every spending variation should be compared to the assumptions that were utilized to create the…

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

A: Partnership Assets: Partnership assets are the economic resources which are contributed by partners…

Q: The following information pertains to Sandhill Corporation. 1.   Balance per bank, July 31, $8,802.…

A: Bank Reconciliation Statement  and Entries in the books

Q: ORANGE Company and its divisions are engaged solely in manufacturing. The following data pertain to…

A: Reporting segments are the one which the entity reports to compare the division performance for…

Q: Bridgeport Corp. has 7,400 shares of common stock outstanding. It declares a $5 per share cash…

A: Dividend for shareholders No.of shares * cash dividend per share 7400 shares * $5 $37,000

Q: which asset never depericate in value

A: The question is related to the Non-Depreciating Asset.

Q: A manufacturer of mlcrowaves has dlscovered that female shoppers have Ilittle value for microwaves…

A: Revenue= Revenue Price * Quantity Revenue from men Revenue = 76 * 1= 76   Revenue from women Revenue…

Q: The production supervisor of the Machining Department for Niland Company agreed to the following…

A: Budget characteristics includes: Prepared for a specific time period It is prepared prior to the…

Q: chased 1,200 of the 100,000 outstanding shares of M 0 commission. total earnings for the period are…

A: Baston Co purchased 1,200 shares of Micheal Corp that has 100,000 outstanding shares . Baston Co…

Q: Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next…

A: Sales Budget: When it comes to sales budgets, they are simply financial projections that forecast a…

Q: escribe five factor that could explain why the falsifying of financial statements is occurring so…

A: Financial statements are those that provide a screenshot of the company’s performance and financial…

Q: Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of…

A: DDB rate = 2/ Useful life DDB Depreciation = Original cost x DDB rate

Q: Berman Company sold equipment on July 31, 2022 for $60,000. The equipment had cost $125,000 and had…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Question 25 The minimum cash balance may be set based on the desired number of days' of operations…

A: Certain amount of cash has to be maintained in the business so that any unforeseen events or…

Q: Principles of Accounting 1 Chapter 10 Homework Problem 1– Entries for notes payable On January 26,…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: From which of the following banks would cost be higher ? Bank W - 22% interest payable at maturity…

A: Interest A charge paid by the borrower to the lender for using the money is known as interest. There…

Q: 12. John moved out of his parents' home and into a one-bedroom apartment four months ago. He…

A: Expenses: Expenses are the charges incurred by an individual or entity for carrying out the day to…

Q: At December 31 of the current year, Account Receivable has a balance of $900,000, the Allowence for…

A: Aging of receivables method is used to estimate the amount of receivables which is expected to be…

Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.