0. The appropriate pre tax discount rate is 10%. Requirement: Provide the journal entry.

Q: Monster Cookie Company provided the following information for the month of January: Beginning cash b...

A: Ending cash balance is depends upon the total cash balance available and cash distributed. Total cas...

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A: Earning per Share (EPS) It is the measurement of the net income which are incurred in the firm with ...

Q: On January 1, 2017, Bride Company purchased for P2,400,000 a machine with a useful life of ten years...

A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/10 years) x 2 = 20%

Q: 1. An equipment has a first cost of P500,000 and the cost of installatic is P30,000. If the salvage ...

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Q: Use the follouing information for the next two questions: On January 1, 20x1, Entity A acquires Enti...

A: It is pertinent to note that as per PFRS 3 in a business combination all the identifiable net assets...

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A: Shareholders’ equity is a part of the balance sheet that is used to represent the net worth of the c...

Q: The Colby Group has the following unadjusted trial balance as of August 31, 2019 The debit and credi...

A: The transactions of the company will be analyzed by the management, and it will be recorded in journ...

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A: Given in the question: Loan amount = ₱100,000 Payable = Semi-annually Tenure = 8 years Interest rate...

Q: At the beginning of current year, Vicious Compa the following property, plant and property and a dep...

A: 1. Depreciation of land improvements. Depreciation = Cost - Salvage Value/ Estimated Useful Life    ...

Q: The management of Ro Corporation is investigating automating a process. Old equipment, with a curren...

A: Simple Rate of Return can be calculated with the following formula   Simple Rate of Return = Annual ...

Q: The following statements relate to cash. Which statement is false? O Legally restricted compensating...

A: 1. Restricted cash balance will always be excluded from cash . Therefore it is true statement.   3. ...

Q: What information does the payback period provide? Suppose Omni Consumer Products's CFO is evaluating...

A: Payback period  refers to time taken to get initial  investment  through  annual  cash inflows 

Q: le production. You will need an Initlal $5,900,000 investment In threadıne nt to get the project sta...

A: Given,  Initial investment is $5,900,000 Required return is 9% Tax rate of 21% Salvage value is $800...

Q: The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared a...

A: The book value of the common stock refers to the amount of balance sheet that is attributable to the...

Q: Buffo Company fabricates metal folding chairs. Data concerning the company's revenue and cost struct...

A: The expected contribution margin will be calculated by subtracting the total variable cost from the ...

Q: The company bought kitchen equipment (a commercial oven) for $29,000 on November 1, 2021 and signed ...

A: Cashflow Statement - It is type of financial documents provides the details of cash inflows and cash...

Q: 'A person employed to handle correspondence and manage routine and detailed work for a senior or a b...

A: An organization will employ many employees based on its requirement. And each employee will be assig...

Q: Philips Ltd Balance Sheet as on 31st December 2020, 2019 and 2018 were as follows:   Liabilities ...

A: Common size balance sheet can be defined as the balance sheet in which all the items is expressed in...

Q: Direction: Identify each statement whether it is true or false. Cost of general advertising is non-...

A: Costs are defined as expenses in monetary terms against supplies, equipment, services, products as w...

Q: tax basis in your partnership interest will change (

A: Tax basis in partnership is formed by the amount of cash or non-cash assets brought in by partners r...

Q: Tucker Manufacturing is considering investing in specialized equipment costing $844,000. The equipme...

A: The following are the estimated net cash inflows from the investment :   Year 1 $311,000 ...

Q: Martin Company purchases a machine at the beginning of the year at a cost of $126,000. The machine i...

A: Depreciation rate  = 2/useful life  =2/4 =0.5 Or 50%

Q: Razi Company is a manufacturer of the leather belt based in Kelang, Selangor. The company estimated ...

A:

Q: Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the following transactions ...

A: The income statement is prepared once the adjusted trial balance is prepared. The income statement r...

Q: The budget committee of Ferbel Company is preparing its manufacturing budget for the year.  Initial ...

A: The manufacturing cost refers to the total direct and indirect costs manufacturing costs incurred by...

Q: 2020, Ryce contributes nondepreciable property with an adjusted basis of $60,000 and a fair market v...

A:

Q: Luzon Manufacturing Corp. manufactures two products from a joint distilling process. The two product...

A: Under physical quantity allocation basis, joint cost is allocated based on a predetermined unit of m...

Q: On January 2, 2020, you purchased for $950,000*** and placed in service a small 1950s-vintage office...

A: Modified Accelerated Cost Recovery System (MACRS) Depreciation - It is system of depreciation to enc...

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A: Account receivables means that when credit sales is made and amount is collected after some days. Do...

Q: n January, 2021 the following Standard Cost Card relating to the product Cleanex was extracted from ...

A: Here in this case we will need to explain variance analysis meaning and calculate the material price...

Q: 6. The companies depend on bills and documents to record the cost of assets:

A: Documentary evidence in support of any business transaction is called as a Voucher. It may be a rece...

Q: The following data has been presented to you by ABC Ltd for the FY 20 - 21 from which you are requir...

A: Basic earnings per share = Net Income Attributable to equity shareholders/Weighted Average number of...

Q: The managerial accountant at Sunny Manufacturing needs to determine how many costs are fixed costs a...

A: The fixed cost and variable cost are separated from the total cost using the high-low method. Under ...

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A: Note: while preparing the bank reconciliation statement, NSF check are deducted from the balance as ...

Q: Written, Inc. has outstanding 500,000 shares of P2 par common stock and 100,000 shares of no-par 8% ...

A: A dividend is distribution of cash or stock made by corporation to its shareholders based on number ...

Q: Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has al...

A: The main motive of every business entity is to maximize the profit, one of the ways to increase the ...

Q: true or false. plase answer Assembly line worker’s wages is a controllable cost, product cost, dire...

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a s...

Q: The records of Hot’s Department Store report the following data for the month of January:   Beginn...

A: Retail Inventory Method : In calculates the ending inventory value by finding the total value of goo...

Q: A company is considering purchasing factory equipment that costs $480,000 and is estimated to have n...

A: Annual Operating Income = Annual revenues - Operating Expenses - Depreciation = $135000 - $39000 - (...

Q: Reynolds Construction Materials Company has a sales office that sells concrete culvert pipes to prop...

A: Flexible budget variance is the difference between the results obtained from flexible budget and the...

Q: the income statement, interest revenue is found in     operating revenues and expenses.     othe...

A: Interest revenue  earned  is not the main source of income  for a business 

Q: The management of Lanzilotta Corporation is considering a project that would require an investment o...

A: Pay Back period - According to this method it is time to recover the initial cost of assets. Formula...

Q: Buy-Rite Pharmacy has purchased a small auto for delivering prescriptions. The auto was purchased fo...

A: Net annual  cash flows = Gross revenue  - cost =$32900 - $26800 =$6100  

Q: The controller for Camden's Bike Shop has gathered the following cost and activity level information...

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the unanswere...

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A: Salvage value for making  investment financially  attractive  = Negative net present  value to the o...

Q: The Cohan rule is most likely to come to the rescue (or partial rescue) of which of the following ta...

A: Cohan rule is a common law rule where the taxpayers, who are unable to produce records of actual exp...

Q: On January 1, 2022, Martinez Company purchased the following two machines for use in its production ...

A: Cost that is measured for property plant and equipment includes all the costs that are directly attr...

Q: PURE Company provided the following information with respect to its cash and cash equivalents on Dec...

A:  Unrestricted Cash & Cash Equivalent: Unrestricted cash and cash equivalents, refers to the mone...

Q: alculate the sales volume variance.

A: The sales volume variance is the difference between the actual and expected number of units sold, mu...