1. What are the advantages of the use of a ledger? 2. What are the steps in posting from Journal to the Ledger?

Q: On March 1, Wayne Michaels bought 10 bonds from a particular company with a coupon rate of 9.725%.…

A: Current yield=Annual interestCurrent market price×100 Total purchase price=Price per bond×Number of…

Q: okeman Bunch Incorporated, manufactures Poke Monster figures and has the following data from its…

A: The variance is calculated as difference between budgeted cost allowed for production and actual…

Q: . On January 1, 20x1, ABC sold a used vehicle with a historical cost of P2,000,0000 and accumulated…

A: Carrying Amount is the book value of an Assest which is recorded in financial Statement . When the…

Q: annual payment from a cash flow is expected to grow 4% per year from year 1 to year 10, after which…

A: The present value of cash flow would be the equivalent value today that is equivalent to cash flow…

Q: siness and Managem -Column Worksheet using the data of EFFICIENT SERVICES as of December 31, 2021.…

A: Adjusting Entries- An adjusting journal entry is one that occurs in a company's general ledger at…

Q: Item No. 22 is based on the following information: sand and IS 03 95 2011 mat After operating for…

A: Note: As per our guidelines, only the first question should 22. The net assets will be shared…

Q: Partners Bruce, Charlie, and Demi share profits and losses in the ratio of 5:3:2, respectively. At…

A: Dear student, since you have asked multiple questions we will answer only first question as per…

Q: Firm Tezla produces the product QuickCar. Annual demand for QuickCar is 600600 units per year on a…

A: Correct option is b. 110 units .

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

A: Classified balance sheet:- It presents the assets, liabilities, and shareholders' equity into…

Q: Assume that in 2020, a parent company sells equipment that has a remaining life of 10 years to one…

A: Introduction: Retained Earnings: The level of revenue a firm has left out after covering all of its…

Q: Selected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 23,400…

A: The total amount of expenses added to a cost item is referred to as applicable overhead. Some…

Q: XYZ Corporation is authorized to issue 150,000 ordinary shares with par of P150. On June 1 eight…

A:

Q: ose, Bonl and Tony are partners with a profit and loss ratio of 5:41 The partnership is to be…

A: The partnership comes into existence when two or more persons agree to do the business and share…

Q: X Dr Theory Exam - Intermediate X way pt-3958111&cmid=1071690&page=23 Theory Exam

A: Under the FIFO method of inventory valuation, goods purchased first are sold out first.

Q: Carl contributes equipment with a $50,000 adjusted basis and an $80,000 FMV to cook Corporation for…

A: There are a few things Carl and his son should take into consideration while dealing with this…

Q: Sales Opening stock Closing stock RO 50,000 RO 5,000 RO 3,000 Purchases Selling expenses…

A: Formula used: Gross profit ratio = ( Gross profit / Net sales ) x 100

Q: Q1 Lawn Company's records for April disclosed the following data relating to direct labor:…

A: The variance is the difference between the actual data and standard output of the production.

Q: A partner has withdrawn the following sum of money during the half year ended June 30, 2016. Months…

A: Lets understand the basics. In average due date method, one average due date is calculate for the…

Q: XYZ Corporation is authorized to issue 150,000 ordinary shares with par of P150. On June 1 eight…

A: Statement of Profit and Loss Account The purpose of preparing the statement of profit and loss to…

Q: Compute the following: a. The average rate of return, giving effect to straight-line depreciation on…

A: Solution:- Given, Spanish Peaks Railroad Inc. is considering acquiring equipment at a cost =…

Q: For the next five (5) questions: On January 1, 2022, when the prevailing market rate on similar…

A: According to this question, we need to compute the carrying amount of the Investment in bonds on…

Q: ss for 3rd quarter

A: The answer has been mentioned below.

Q: EXERCISE 10. Journal Entries and Statement Preparation: With capital deficiency; solvent/insolvent…

A: You have posted multiple-part questions, so as per our policy only the first three sub-parts are…

Q: SKIP THIS IF YOU ALREADY ANSWERED THIS. I WILL ONLY UPVOTE IF IT IS TYPEWRITTEN. FOLLOW THE…

A: Financial Statements It is the  summary  of report about a company 's financial results, financial…

Q: 6) The investment in bonds will be initially recorded at what amount?

A: Investment in bonds are classified as Financial assets.  financial assets are initially recorded at…

Q: fter the realization of non-cash assets, the following account balances appeared in the genera…

A: Realization Account:  When the firm dissolved then a new account is opened that is known as…

Q: If Pluto Company sold 3000 units at sales price of SR45. The variable cost per unit is SR25.…

A: The contribution margin is calculated as difference between sales and variable costs.

Q: Selected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 24,100…

A: Let's understand some basics Factory overhead is the costs incurred during the manufacturing…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined overhead rate = Estimated factory overheads / estimated direct labour hours

Q: Mr Mohammed and Mr Hamed are partners sharing profit and losses in the ratio of 9:6. Mr Ahmed is…

A: Goodwill means the reputation of the company due to any factor like location , product , price ,…

Q: Partners Nina, Ricci, and Guess, who share profit and losses in the ratio of 2:2:1, respectively,…

A: The Partnership is a relationship between two or more partners who have agreed to share the profit/…

Q: O P40,040.00 O P42,140.00 O P2,100.00 P1,158.00

A: Introduction:- ABC costing means Activity based costing. It is used to allocation of manufacturing…

Q: If A is the total capital of the partnership before the admission of a new partner, B is the total…

A: A partnership is the form of business that is carried by two partners and sharing the profit and…

Q: K1 and K2 are partners who have capital balances of P95,000 and P65,000 and who share profits 60%…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Martinez Co. borrowed $69,589 on March 1 of the current year by signing a 60-day, 6%,…

A: A journal entry is a type of accounting entry that is used to record commercial transactions in a…

Q: Explain how jobs cal be estir quote model based on previous data. Discuss the different methods of…

A: Explain how jobs can be estimated by using a quote model based on previous data. In this case, the…

Q: Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 6,600…

A: Goods finished = $307,900 WIP, April 30 = WIP, April 1 + DM + DL + Factory overhead - Goods finished

Q: Q1: ABC company had the following purchases and sales information: Purchases Sales 10 units at $110…

A: Inventory is valued on the basis of different inventory valuation methods such as LIFO, FIFO, or…

Q: The following balances as of the end of 2009 for the partnership of ping, pong, and pang, together…

A: Capital account of partner refers to the distinct account which states equity within the partnership…

Q: Moving Question 1 National supplies company had the following activity during the current monthly…

A: Using weighted average method, the cost per unit is calculated as total cost of goods available for…

Q: At the beginning of April, Warren Corporation's assets totaled $247,000 and liabilities totaled…

A: Lets understand the basics. As per balance sheet approach, total assets is always equal to total…

Q: Consider the following transactions that take place in 2021. A rancher in Alberta takes $100 worth…

A: GDP is a common indicator of the cost added created by a country's output of goods and services over…

Q: The FernRod Motorcycle Company invested $150,000 at 4.5% compounded monthly to be used for the…

A: The value of the investment (made in the current period) after a certain period of time would be…

Q: The following information was gathered from the books of Gorgeous Company which is currently…

A: The amount which is available from the sale undertaken of the assets of the company after the…

Q: Your answer is partially correct. Bramble Corp. purchased from its stockholders 5,600 shares of its…

A: In this question, we are required to prepare the journal entries for those transactions. Treasure…

Q: The Thomlin Company forecasts that total overhead for the current year will be $11,132,000 with…

A: Variance is the difference between expected results and actual results. It can be calculated by…

Q: The capital account of the partnership of Lily and Marie at October 31, 2021 are as follows: Lily,…

A: The revaluation of assets and liabilities is performed and gain and loss is distributed among old…

Q: What is the value of revenue to breakeven? Units Revenue - Variable Cost = Contribution Margin Per…

A: Formula: Break even units = Fixed cost / Unit contribution margin Division of unit contribution…

Q: Mary Joy will start her business on November, 2022. Her business name will be M.J Fertilizer. She…

A: Projected cost Particulars Amount Amount Direct expense     Raw Material 6038   Packaging…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Introduction: Excess hours worked: In general the number of hours to be worked in a week is 40 hours…