1.) According to the Organization for Economic Co-operation and Development, corporate governance involves a set of relationships between a company's management, its board, its shareholders, and other stakeholders. In relation to this statement, why governance is important to our society? Explain.

Q: A company incurred the follow costs related to research and development for the current year:…

A: Note: Testing new models and Legal fees for patent applications are not the research and development…

Q: On Jan, 1, 20X1 ABC Corp sold equipment with a cost of P20,000,000 and accumulated depreciation of…

A: Receivables is the amount of money to be received from customers on some future date.

Q: BCO Mortgage Company has the following two service and production departments related to its lending…

A: Using direct method, the service department costs are directly allocated to production department.

Q: Had the company used labor hours as a companywide allocation base, how much overhead would it have…

A: a. Single rate used labor hours as a company-wide allocation base = Estimated overhead / Estimated…

Q: On 7/1/20 the client sends you a copy of check #111 for payment to Sally's Lawn Care for $500.00.…

A: It is a cloud-based accounting software that offers on-premises accounting support along with cloud…

Q: Looking from a managerial perspective, why would a firm use a balanced scorecard in evaluating…

A: A balanced scorecard (BSC) is a strategic management performance metric used to identify, control…

Q: Baggage Solutions Ltd manufactures top of the range luggage bags that are extremely light weight,…

A: Accounting concepts refer to the rules and regulations laid down in order to provide a guide to the…

Q: oOn January 1, 2020, Kingbird Corporation had $2,020,000 of $10 par value common stock outstanding…

A: A log book is used to record a business transaction in an organization's accounting records. A…

Q: After closing the books at month end on June 30, 2020, Slayter Corporation's shareholders' equity…

A: Stock dividend is the distribution of dividend in the form of shares of the company. Stock split…

Q: Prepare a depreciation schedule for a piece of machinery purchased Jan 10 for $8800. Transportation…

A: Straight line Method: The straight line basis technique is one approach that may be used by…

Q: I: Common-size analysis all accounts are presented as percentage of total liabilities in Balance…

A: Financial statements are those statements and reports which are prepared at the end of the period…

Q: 44.ABC Company received a one year interest bearing note on May 1. The note plus interest are due on…

A: The accrued interest is the interest earned but not received yet. It is recorded as the current…

Q: Which of the following elements are used in calculating Costs in a Flexible Budget?   a. Budgeted…

A: The flexible budget performance report is prepared to compare the actual data with flexible Budget…

Q: An Unfavorable Variance results when (check all that apply)   a. Actual costs exceed Budgeted…

A: Unfavorable variance occurs when Actual cost is higher than budgeted cost. Actual revenue is lower…

Q: MORGAN Merchandising is preparing its Production Budget for the 3rd Quarter of 2020. Its Sales…

A: Production Budget Template: Estimated Sales for the Quarter XXX Add: Desired Ending Inventory…

Q: Lab Company's targeted ending inventory is ₱250,000. Its forecasted sales is ₱980,000 and has a…

A: Cost of sales = ₱980,000 x 68% = ₱666,400

Q: For part 2, do "written off" and "previously written off accounts collection" fall under debit or…

A: Allowance for Uncollectible accounts, Jan 1, 2021 has a credit balance of $2,000. Now, written off…

Q: An inexperienced accountant for Crane Corporation showed the following in the income statement: net…

A: preparation of comprehensive income statement are as follows

Q: On Jan 1, 20X4, ABC Corp sold goods and receive a 12% P300,000 note is due in 3 annual installments…

A: Interest income for the Year = Outstanding face value of the note x  rate of interest x no. of…

Q: Alpha Company produces 1 000 units of Part X per month. The total manufacturing costs of the part…

A: In this question, we have to find out the effect on monthly operatin

Q: xplain why net capital outflows and the real interest rate have an inverse relationship. Why do NCOs…

A: Explanation of Concept In the concerned problem we shall discussed about the relationship between…

Q: What is the relationship between the audit procedure and audit evidence used in the auditor's work…

A: Audit working papers contains the findings of the auditor which have been obtained in the course of…

Q: 18. Which of the following statements is Incorrect? * The fair value of investment property shall…

A: Investment- Investment is defined as the purchase of an asset in order to generate income or capital…

Q: Ben Merchandise presented the following accounts for 2019 and 2018: P1,238,550.00 (current assets…

A:

Q: Using the horizontal analysis of statement of financial position, PPE at the end of 2017 and 2018…

A: Percentage of change = (Value of Property Plant and Equipment in 2018 - Value of Property Plant and…

Q: Carfax provides various services to supply vehicle reports to consumers. Carfax is subsidiary of R.L…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: What are the four major evidence decisions that must be made for every audit?

A: In general term, audit is type of process to check reliability. It is done to check whether the…

Q: Data concerning Follick Corporation's single product appear below. Selling price per unit Variable…

A: Formula used: Break even dollar sales = Break even quantity x Sales price per unit

Q: Gobozana Limited has a receivable from its parent Ntuli Limited. Can this receivable be separately…

A: Accounts Receivables: The amount of money that is owed to a company by its customers for products or…

Q: Additional data: 1. Depreciation expense was $17,500. 2. Dividends declared and paid were $20,000.…

A: Free cash flows are calculated by subtracting the amount of capital expenditure from Net cash flow…

Q: I: Vertical analysis all accounts are presented as percentage of total assets in Balance sheet II:…

A: Vertical analysis means the analysis which is done with the figures of one financial year. For…

Q: How did you get those numbers?

A: For question "A" Preferred stock are non cumulative.  Thus dividend  will be paid maximum to the…

Q: Iron Company has the following property items at December 31, 2021: Particulars / Acquisition (CV) /…

A: As per IAS – 40, an investment property will be a land or a building or part of a building or both…

Q: Part V. Unearned Revenue On November 1, Luna Repair Shop receives P80,000 from a customer as payment…

A: Adjusting entries are those journal entries which are passed at the end of accounting period for the…

Q: Lemon Enterprises produces premier raspberry jam. Output is measured in pints. Lemon uses the…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Hendrickson Inc. ended the current year with Revenues of $245,459 COGS of $123,492 Wage Expense of…

A: Net profit = Revenues - COGS - Wage expense = $245,459 - $123,492 - $52,770 = $69,197

Q: At December 31, 2020, Green company had three existing patents shown below: Date Acquired February…

A:

Q: Butterfly Co. targets to sell 12,000 units of their newly launched line of product in April. If the…

A: Inventory means the goods to be sold by the business in order to earn profit.

Q: tality Rate Table, answer the f Farah, aged 37, purchases a th of RM500.000 Assume an inv

A: It is given that Coverage of RM500,000.

Q: 45.The data below pertains to ABC Corp on June 30: Balance per bank statement, P11,164 Receipts…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: What does an Income statement tell about a business?

A: An entity requires details about its operations such as profits, financial position and cash flows…

Q: A machinery costs of 1000,000 and its economic lite is 5 years. It charges depreciation at 20% per…

A: Depreciation is the steady decrease in the reported value of an item throughout its useful life by…

Q: Part VII. Journal Entry What is the journal entry to record the transaction below? On May 1, 2022,…

A: Lets understand the basics. Journal entry is required to make to record event and transaction…

Q: Calculate the yield to maturity of both bonds. All else being equal, explain which bond the issuing…

A:

Q: fered partial damage. The following were made available: Cost…

A: Explanation of the Concept In the current problem where machinery which is a fixed asset has been…

Q: Q66. A, B and C were partners in a firm sharing profits in the ratio of 2:2:1. Cwas guaranteed to be…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: The payment schedule of purchases made on account is as follows: 75% during the month of purchase,…

A: Payment for credit purchases in December = 10% of October + 15% of November + 75% of December

Q: B Example: 1 Juliana purchases She also pays 4% After the purchase and $2,000 for n

A: Cost of fixed assets shall include it's Purchase cost and all cost incurred to bring the asset to…

Q: Lab Company's targeted ending inventory is ₱250,000. Its forecasted sales is ₱980,000 and has a…

A: Budgeted purchase equal to cost of goods sold plus ending inventory minus beginning inventory…

Q: ABC Corp showed the following data on its accounts receivables: Accounts known to be worthless.…

A: Accounts receivable Accounts receivable refers to the amount or money due to a business for goods or…