1. Enumerate 10 reason why do you need to study Information System in the field of accounting. 2. Give at least 5 Accounting software and give brief description about it.
Q: Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On…
A: The income statement shows the net income and net loss that is calculated by deducting the expense…
Q: Running Company had the following information for the month of June: Work in process beginning…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
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A: Given in the question: Loan payable to Joker = P10,000 Partner Hearts’ Due to Partnership = P15,000…
Q: Cambridge Corp. has a single class of shares. As its year ended December 31, 2015, the company had…
A: The journal entry is used to keep and make records of the business transaction and these…
Q: Denver Co. acquired real estate for the construction of a building and other facilities. Operating…
A: Fixed Assets: Fixed Assets are the assets which are having a maturity life of more than a year and…
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A: Journal : It is the primary book of accounts where all the business transactions are recorded at…
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Q: Deductions from Gross Income Classify the items for deduction in the following scenarios. 1. On…
A: Deduction reflected on the relaxation would be provided on the number of expenses being incurred…
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A: As per IFRS 9, Financial instrument, the redeemable preference shares are the financial liability of…
Q: What is Trend Analysis in Financial Analysis?
A: Examining sales patterns to see if sales are declining because of specific customers or products or…
Q: Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000.…
A: Partnership characteristics includes: At least two or more persons Existence of agreement Existence…
Q: Burchard Company sold 45,000 units of its only product for $18.00 per unit this year. Manufacturing…
A: The contribution margin is the sales revenue over the total variable cost incurred on manufacturing…
Q: On January 1, 2020, Covid 19 Company reported the following account balances relating to property,…
A: Revaluation Surplus is the increase in the value of fixed assets. Revaluation Surplus occurs when…
Q: Enibro Item No. 5 is based on the following information: 019nd no bsand 21 S..oW mail 16 Mario…
A: The companies procure funds for their financing needs through the issue of shares. The shares are…
Q: Cash Short-term Investments Current receivables Inventory Prepaid expenses Total current assets…
A: As requested to answer acid test ratio for Camaro so we are answering only for Camaro
Q: A corporation issues 7 500 shares of capital share as a dividend in an effort to reduce retained…
A: The stock dividend is a method of capitalizing on retained earnings. It is issued to the existing…
Q: Question 2 Kris Inc. sold its vacant lot to Moca Corporation for P10,000,000, which it acquired at a…
A: Given, Cost price =P5,000,000 Selling price =P10,000,000 FMV =12,000,000 Zonal value =15,000,000…
Q: Accounts receivable increased by 5,000 Inventory decreased by 14,000 Supplies increased by 26,000…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: How much is the unrealized gain (loss) accumulated in equity as of December 31, 20x2? Karen Co.…
A: The answer for the multiple choice question and relevant working are presented hereunder : Cost of…
Q: e process of using the net worth method, ou find that the reported taxable income of a person is…
A: Requirement: In the given problem it is asked to calculate unexplained net worth increase or…
Q: The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:…
A: The bank reconciliation statement is prepared to reconcile the difference between the balance of…
Q: Assume that debt service expenditures are $12.6 million and "own source" revenues are $84 million.…
A: Debt service revenue ratio = Debt service / revenue
Q: Item Nos. 14 and 15 are based on the following information: revealed the following information:…
A: The par value of outstanding shares is recorded as legal capital.
Q: Assume, that on June 2, 2022, PVH Corp., borrowed $10,500,000 cash from Fifth Third Bank to meet…
A: Introduction: Many bonds or investments provide interest at maturity, which indicates that the whole…
Q: Company provided the following information for the current year: Current service cost 500,000…
A: The benefit-cost ratio (BCR) is a profitability indicator used in cost-benefit analysis to determine…
Q: Grate Expectations is a local cheese shop that sells 10,000 no par value common shares for $8 each…
A: A compnay can raise finance by issuing shares.It receives some money on issue of shares and…
Q: Compute the Day’s Sales in Receivable Index and select the best Answer: 12/31/2020…
A: Day’s Sales in Receivable Index = (Accounts receivables year 2 / Net sales year 2) / (Accounts…
Q: ixed interest rate on a notional amount of $300,000 and to pay interest based on a floating interest…
A: Disclaimer : “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: Current assets Plant assets Total assets Dec. 31, 2017 $ 210,500 1,362,800 $1,573,300 Dec. 31, 2016…
A: Formula used: Change in amount = 2017 amount - 2016 amounts
Q: 0,000, and an additional $50,000 in working capital is required. Since this store will be operating…
A: Explanation of concept This is the concept related to discounted cash flow. In this discounted…
Q: The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:…
A: Introduction: BRS: BRS stands for Bank Reconciliation statement. To reconcile the difference between…
Q: Match the following E. 10 kg of Basmati rice exchanged with 14 kg of ordinary nice, with payment and…
A: Match the following: 10 kg of basmati rice exchanged with 14 kg of ordinary rice with payment and…
Q: Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They…
A: The bonus that is granted to the existing partners on the admission of a new partner is the amount…
Q: Salman, capital Advertising expense Accounts payable Sales commission revenue Account Balance…
A: Introduction: Trial Balance: All the final ledger accounts balances are posted in Trial Balance to…
Q: Assume no other adjusting entries are made during the year. a. Salaries Payable. At year-end,…
A: Adjusting journal entry: At year-end when the company finalizes its accounts, any unrecognized…
Q: Item No. 10 is based on the following information: EL bno S.I.20 met mo) ove18 to besinsgro Sweety…
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Q: at
A: Harold's Harold's Death Small Flat is valued = £170,000 other assets = £680,000
Q: [The following information applies to the questions displayed below.] Deliberate Speed Corporation…
A: Trial balance contains the following accounts: Assets accounts Liabilities accounts Capital…
Q: Following are the given figures: Opening Stock Rs. 30,000, Carriage On Sales Rs. 3,000; Closing…
A: Formula: Gross profit = Opening stock + net purchases - Closing stock. Deduction of closing stock…
Q: Ten years ago, you deposited P5400 per month. You made the deposit for 6 years and then stopped 4…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: January 1, 2012 - Company issues $10,000,000 of no par common shares at $10 each. DR. Cash…
A: The contributed surplus is the amount that is different between the par value of the stock and the…
Q: All else constant, identify the effect of each of the following on the level of inventory:…
A: Inventory- Inventory is a critical current asset for any manufacturing company. The physical stock…
Q: Power Company manufactures a variety of drill bits. The company's plant is partially automated. The…
A: ABC method allocates overhead based on the relevant activity. It does not use a single overhead…
Q: Record the above summary transactions. (Record journal entries in the order presented in the…
A: The act of maintaining or making records of any transactions both monetary or non-monetary.…
Q: On 30 April, CBA declares a 4:1 share split. If you had 2 million shares each worth $40 before the…
A: A share split is a process of dividing one share issued into multiple shares. The number of shares…
Q: Fantastic Plastics manufactures plastic bottles that are used by other companies for packaging. The…
A: No. of machine - 4 No. of units to be produced (in a month) - 10,000 unit * 4 machine * 80%…
Q: January 1, 2012 - Company issues $10,000,000 of no par common shares at $10 each. DR. Cash…
A: Journal entries show the recording of transactions during an accounting year and every transaction…
Q: Where goods are sold by a person who is not the owner thereof, and who does not sell them under the…
A: The correct answer for the above mentioned question is given in the following steps for your…
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- Give an example of accounting problem, For that problem, there should be 5 requirements or questions then write a short narrative of your analysis of the problem. Explain what theories/ concepts apply, how, and why. Then present the solution/computation. Write a short narrative explaining the meaning of the final answer - its implication to thefirm. Write a short recommendation/conclusion based on the analysis and solutions. You solved a current problem only. How can you provide for the future? What about contingencies that may arise? What proactive measures can you take?Give atleast 5 Accounting Software and brief description about itAccording to the information available at http://www.accounting.com/careers/, what are six different areas of accounting on which you can focus your career?
- 1.List and describe THREE (3) popular accounting software packages 2. Explain FOUR (4) similarities and FOUR (4) differences of any two accounting software packages.i need help with these two accounting 2102 questions and can you show the work for them pleaseWhat are the 2 specific advantages of Accounting Information Systems (AIS) to ease accountants in preparing financial statements.
- Benji Borke has prepared the following list of statements about accounting information systems.Identify each statement as true or false. 1. The accounting information system includes each of the steps of the accounting cycle, the documents that provide evidence of transactions that have occurred, and the accounting records. select an option TrueFalse 2. The benefits obtained from information provided by the accounting information system need not outweigh the cost of providing that information. select an option TrueFalse 3. Designers of accounting systems must consider the needs and knowledge of various users. select an option TrueFalse 4. If an accounting information system is cost-effective and provides useful output, it does not need to be flexible. select an option…Accounting information systems by Gelinas: As an accountant, why do you need to know how to talk to systems designers and developers? What topics must you able to understand and discuss with them?List out any five users of accounting information and discuss how accounting information help them in decision making process with the help of suitable examples.
