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Q: Milloy Furniture purchased land, paying S85,000 cash and signing a $310,000 note payable. In additio...
A: Depreciation can be define as an expense which calculates the value of fixed assets which depreciate...
Q: ence. GE has 3 machines the machines, the probab sts vary for each machine late the expected income
A: To calculate the expected income of each machine we should identify the costs and income and find th...
Q: If someone asked you now if you think accounting is important in our society, what will you say?
A: ANSWER ÷ yes Accounting is important in our society. It plays important role in running business for...
Q: c. A series of quarterly payments of $1000 for 25 years is economically equivalent to what present s...
A: Quarterly Interest Rate = Annual Rate / 4 Quarters = 8% / 4 = 2%.Number of Quarters in 25 Years = 25...
Q: Actual fixed overhead expenditure in for the same period is C70,000. The labour force manages to pro...
A: The fixed overhead expenditure variance = Budgeted overhead - Actual overhead If the budgeted overh...
Q: ein al:
A: from the given above options OPTION(3) INCOME STATEMENT IS correct
Q: Aerospace Electronics reports $590,065in credit sales for 2018 and $596,438 in 2019. They have a $46...
A: Solution: Bad debt estimation = Credit sales * % of expected bad debt
Q: On February 1, 2018, Bell Co. decides to invest excess cash of $16,800 by purchasing a Grant, Inc. b...
A: Journal entry - It refers to the process where the business transactions are recorded in the books o...
Q: A.Selected information from the separate and consolidated income statements of CHARTER LTD. and as s...
A:
Q: Wendell owns 100% of the outstanding stock of Group Corporation. During the current year, Wendell tr...
A: Issuance of stock in exchange for property (non-taxable @NBV) Non-taxable transaction under Sectio...
Q: FDN Trading had the following selected transactions on November 5: Purchase of furniture on account,...
A: Solution: Cash account shows inflows of cash and outflows of cash. Inflows of cash are debited to ca...
Q: On January 1, Phil’s Burgers purchased a burger making machine at a cost of $400,000. The delivery, ...
A: Solution.. Total cost of machine = Purchase price + instalation and set up costs = $400,000 + $2...
Q: A taxpayer engaged in manufacturing operations bought a machine with a salvage value of P50,000 and ...
A: Introduction:- The following formula used to calculate depreciation as follows:- Sum of each year of...
Q: A firm is offered trade credit terms of 3/15, net 30 days. The firm does not take the discount, and ...
A: solution given credit terms =3/15 net 30 days firm pays in 50 days the extra days taken =...
Q: Product Cost?
A: 4) Amount of Direct labour is 45000 ( Salary of 5 factory workers are cost of labour. Direct labour...
Q: The accounting concept that is principally used to classify leases into operating and finance is ...
A: The agreement where the owner of the fixed asset allows the individual or the business entity to u...
Q: In liquidation, the sale of the non-cash assets is called a. realization b. net proceeds c. gain f...
A: Answer - First of all in Liquidation Process there are four steps. Second step in Liquidation Pr...
Q: pany carrying exchange interest bearing note of P5,000,000 requiring ten annual payments of P500,000...
A: Present value means the actual amount is adjusted with the interest rate so as to get the present va...
Q: An insurance company is considering providing fire insurance for $120,000, $100,000, or $80,000 to t...
A: Insurance is a type of contract between the person who has insured with the insurance company in whi...
Q: Investors analyze the financial statements to____________. Decide whether the company has the abili...
A: Answer are as follows:
Q: The balance in the retained earnings at December 31, 2020 and 2021 respectively are ₱720,000 and ₱58...
A: The following details are given. Retained earnings at December 31, 2020 - ₱720,000 Retained earnin...
Q: 15. Rosemarie and Rose are partners sharing profits and losses in the ratio of 7:3 respectively. On ...
A: ANSWER: (e) answer not given. Explanation:
Q: Under PFRS 3, compute for the goodwill that should be included in BLAKE's consolidated statement of ...
A: Consideration paid Add: Non Controlling Interest Less: Fair value of net identifiable assets Good...
Q: shareholders' equity. Victory's articles of incorporation authorized the issue of 240,000 ordinary s...
A: The shareholder's equity section represents the equity that belongs to the shareholders of the busin...
Q: FDN Accounting Services purchased office supplies for P24,000 on terms 10% down payment and the bala...
A: The increase in total assets of the business due to a transaction can be ascertained from the help o...
Q: On February 2019, Sean Company began operations by issuing at P15 per share 50% of the 950,000 ordin...
A: Share premium is the amount received on issue of ordinary shares in excess of its par value. Diffe...
Q: Montello Inc. purchases a delivery truck for $21,215. The truck has a salvage value of $4,521 and is...
A: Purchase price of truck = $21,215 Salvage value = $ 4,521 Life = 10 Years
Q: rm the related installation service and provide a tech support for three-year period. AGI sells the ...
A: ANS(A) As per given details please refer below answer :- For the sale of software there are three pe...
Q: Comparative income statement for Deep Sea Company for 2016 and 2015 are given below ...
A:
Q: Art Company started a new promotional program. For every 10 box tops returned, customers receive a b...
A: Estimated redemption = Sales in units x 60% x 1/10 = 100000 units x 60% x 1/10 = 6000
Q: Roger Corp., which has experienced excess production capacity, received a special offer for its prod...
A: Answer - Calculation of Profit / Loss when company accept the special offer : Particulars Am...
Q: jDL Coroproation Selected Financial Data as at december 21,2016 Current asset ...
A: SOLUTION- FORMULA- 1- QUICK RATIO = CURRENT ASSETS - PREPAID EXPENSES- INVENTORY / CURRENT LIABILI...
Q: Arvan Patel is a customer of Bank’s Hardware Store. For Mr. Patel’s latest purchase on January 1, 20...
A: Total interest on Note = face value of note x rate of interest x no. of years = $459,505 x 14% x 2 y...
Q: From the following Company A adjusted trial balance calculate the ending balance of Owner's Equity. ...
A: Solution: Net income = Service revenue - Expenses = $61,000 - $42,800 = $18,200
Q: When using special journals for recording and posting transactions, it does not matter if it is a pe...
A: The perpetual inventory system is the inventory valuation system that counts the inventory on a regu...
Q: n 2019, Nonie a married Filipino resident was the sole support of his uncle, cousin, nephew, niece a...
A: solution given in the question Nonie a married Filipino resident was the sole support of his uncle,...
Q: You work for the Thunder Bay Regional Health Sciences Centre and your diagnostic imaging department ...
A: Here given a summary of the probability of survival , profits, and costs for the company Here for ex...
Q: hat is the ratio that measures the number of days on average the company takes to turn its inventory...
A: Solution: Days inventory outstatnding represents the average number of days the inventory takes to b...
Q: 28. As of December 31, 2020, the books of Abad, Sison and Dario Partnership showed capital balances ...
A: Partnership means where two or more person comes together to do some common business activity and ea...
Q: On January 1, 2019, Dumaguete Company purchased bonds with face amount of P4,000,000 for P4,206,000....
A: Initial recognition of bonds = P4, 206,000 Interest will be paid on face value
Q: On March 1, 2020, Marla Company issued 20,000 shares of its P10 par value ordinary shares and 40,000...
A: Total market value of ordinary shares issued = No. of ordinary shares issued x selling price per sha...
Q: If the gross profit margin is 20% and the cost of goods sold is $120,000, what is the amount of reve...
A: Gross profit is the profit which a business has earned when the cost of goods sold is deducted from ...
Q: Assume that Sage follows ASPE. Prepare the journal entry to record the purchase of the building. (Cr...
A: The journal entry to record the purchase of the building in the books of Sage Corporation is shown h...
Q: he sales and profit margin of ABC Co. for 2020 were P500,000 and 15% respectively. Analysts project ...
A: solution given Sales of 2020 500000 Profit margin of 2020 15% Sales to grow by 12%...
Q: The following are selected data for the division for the consumer products of ABC Corp for 2020: ...
A: Return on Sales = Net Income/ Sales
Q: 24A-4. Sabatini Company has requested that you (1) assign indirect expenses to its jewelry and shoes...
A: Net profit means the difference between the income and expenses. Financial statement means the tradi...
Q: n amount paid by the lessee to the lessor in addition to the periodic rental which is treated by the...
A: Solution: Lease bonus in addition to the lease payment are considered as unearned rent income for th...
Q: TINSEL Company implemented a defined benefit plan on January 1, 2021. The following data are provide...
A: Pension liability on December 31, 2021 = Projected benefit obligation on December 31, 2021 - Plan as...
Q: Prepare an Adjusted Trial balance. Your guide is the new ending balance after adjustments for each a...
A: The adjusted trial balance will be prepared on the basis of the entries recorded
Q: Which of the following statements about receivables turnover is false? Receivables turnover measure...
A: Ratio analysis is one of the important technique of financial analysis. Under this analysis, various...
#for part b) please provide at least 2 possible solutions....if not please don't attempt to answer....
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- Consider a Poisson distribution with . Write the appropriate Poisson probability mass function. Compute f(2). Compute f(1). Compute .The random variable x is known to be uniformly distributed between 10 and 20. a. Show the graph of the probability density function. b. Compute P(x15). c. Compute P(12x18) d. Compute E(x) e. Compute Var(x)A random variable that can assume only a finite number of values is referred to as a(n) _____. a. infinite sequence b. finite sequence c. discrete probability function d. discrete random variable
- Consider two random variables X and Y. The covariance between these two variables is 1.00. We can conclude that there is a perfect positive linear relationship between the two variables. Is this statement true or false? If your answer is false, give reasons.An exponential probability distribution _____. a. must be normally distributed b. is a discrete distribution c. is a continuous distribution d. can be either continuous or discreteThe continuous distribution characterized by a symmetric, bell-shaped curve is the: A.exponential distribution B.binomial distribution C.Poisson distribution D.normal distribution
- In the linear regression equation y = a + bx, the letter b is best described as a (n):Given the following probability distribution, what is the standard deviation of returns for Security J? (Expresss your answer in percentage, but do not include the percent sign, %, i.e., 4.65) State Pi rJ 1 0.2 6 % 2 0.6 11 3 0.2 17Given the following probability distribution of returns: Probability Return 0.1 -15.0% 0.25 0.0% 0.3 8.5% 0.25 12.0% 0.1 32.0% what is the expected return?
- Which of the following indicates that two variables tend to move in the same direction? a.negative covariance b.probability c.covariance d.positive covarianceThe standard deviation of a standard normal distribution _____. a. can be any value b. is always equal to 1 c. is always equal to 0 d. can be any positive valueq12- In the distribution of a variable, if the mean is much smaller than the median, the data distribution is: a. Uniform b. Right-skewed c. Left-skewed d. Normal