2. Identify and discuss 2 external users of accounting information and their information needs.

Q: Following on from the previous question, it is now the end of August 202X, and you are preparing a…

A: Cost Transferred Out :— It is the cost of equivalent units that are transferred to next process.  It…

Q: Pacifico Company, a U.S.-based importer of beer and wine, purchased 1,100 cases of Oktoberfest-style…

A: Foreign Currency Option: An option on foreign exchange is a type of derivative financial product…

Q: Oriole Company's record of transactions concerning part WA6 for the month of September was as f s as…

A: Inventory valuation is based on the flow-off issue used by the organization. It can be the first in…

Q: Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Land Equipment…

A: The cash flow statement is one of the financial statements of the business, and it is prepared to…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Introduction: A variable costing income statements report that subtracts variable expenses from…

Q: Required: Prepare the purchases ledger and sales ledger control books for June 2021.

A: Here all the transaction and period end balance given and amount of gross purchase and same amount…

Q: company received a deposit for $19600 last month for services to be provided in the current month,…

A: Unearned Service Revenue :— Unearned revenue is money received by an individual or company for a…

Q: Bucker Company purchased a fabrication machine on January 1, 2020 for $55,000. The machine is…

A: The depreciation expense is charged on fixed assets as the reduction in the value of fixed assets…

Q: Record the following journal entries for Allen Company: i (Click the icon to view the transactions.)…

A: Journal Entry :— It is an act of recording transaction in books of account.     Working Note #:—…

Q: If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, the…

A: The difference between Total Sales and Total Variable Cost is known as Contribution. All the direct…

Q: Can you explain each point in detail, if possible?

A: Lets understand the basics. Cash management is must requirement for banks in todays world. This is…

Q: XYZ Ltd Inventory (in billions) Total Revenue (in billions) COGS (in billions) Net Income (in…

A: The main goal of every manufacturing unit and trading company is to sell more. To accomplish this…

Q: Compute the breakeven point in sales dollars for the financial year ending 31 December 2022 under…

A: Break Even point in sales dollars=Total fixed costsContribution margin ratio

Q: During its first year of operations, LEBANON COMPANY entered into the following transactions…

A: Equity Capital - Share capital and equity finance are other names for equity capital. It is referred…

Q: Comment on the movements in the ratios over two years and adequacy of the level of gearing and…

A: Financial ratios refers to the ratios which determine the line items of the financial items of the…

Q: DeKay Dental Supplies issued $10,000 of 20-year bonds on January 1, 2021. The bonds pay interest…

A: The bonds payable are the financial instruments for the business which are issued to raise money…

Q: Drifblim Fine Furniture Inq Drifblim Fine Furniture Inc manufactures house decors. Brass sculptures…

A: Standard costing is one of the type of costing under which for every type of costs, standards are…

Q: Here is the preclosing December 31, 2020 trial balance for the general fund of Lancaster County: All…

A: It is the accounting system in which, the recording of use of resources will be restricted or…

Q: Which of the following audit procedures is least effective for detecting unrecorded long-term debt…

A: Lets understand the basics. Management needs to perform an audit procedure in order to express an…

Q: With the use of three different examples, explain why cash and profit are not the same thing.

A: Cash is the real account in accounting terms as it is current asset and profit is…

Q: Your friend started their own company a few years ago. During covid they experienced a lot of…

A: In addition to the regular income or salaries of an employees, they may also get a variety of…

Q: The company's average collection period for 2021 is (Round answers to O decimal places. Use 365 days…

A: Introduction:- Calculation of Accounts receivable turnover ratio as follows under:- Accounts…

Q: Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated…

A: NOPAT is considered as a precise and accurate indicator for the purpose of measuring the…

Q: For the contract above and for the year ended 30 June 2022, describe how Vitaltea Ltd would account…

A: It has been given in the question that the revenue has to be recognized and to be recorded as per…

Q: The role of management's intent increases the risk of material misstatement re: the Existence…

A: The answer for the True or false question and relevant explanation are presented hereunder : What is…

Q: Choices are: a. 3,550,000 b. 3,660,000 c. 3,610,000 d. 3,655,000 Question: What amount was…

A: There are two type of cash and bank balances in the business. One is cash balance as per cash book…

Q: Comparative financial statements for Weller Corporation, a merchandising company, for the year…

A: Ratios are the measures that are used to analyze the financial statements that are income statement…

Q: i just need the value that is marked with a red x

A: Cash flows statement is one of the financial statement of the business which shows all cash inflows…

Q: PROMPT: Restful Sleep Mattress company is planning to expand into selling bedroom furniture. This…

A: Business expansion refers to the process whereby an organization will open a new branch or add a new…

Q: Discuss what reason to decide whether to accept or reject a project. Your should refer to all four…

A: Decision regarding whether an investment on a project which a company is willing to take have to…

Q: Which of the following is the best definition of a variable cost?

A: Types of Costs 1. Variable Cost: The cost which changes with the change in the level of activity is…

Q: Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets - Liabilities =…

A: Every transaction has dual effect on the books of account. The question is from the topic of…

Q: North West Coal Mining Company (NWCMC) mines coal, puts it through a one-step crushing process, and…

A: Increamental gain/(loss) :— It is the difference of Increamental revenue and Increamental costs due…

Q: Ayayai Corporation was organized on January 1, 2022. It is authorized to issue 10,000 shares of 8%,…

A: Issue of shares is one of the important source of capital and finance being used by the business.…

Q: The Andrews Company has just purchased $46,710,000 of plant and equipment that has an estimated…

A: Calculation of depreciation expenses for second year of use are as follows.

Q: Mackenzie Corp, is preparing the December 31, 2020, year-end financial statements. Following are…

A: Adjusting Entries :— It is the journal entry made at the ending the accounting period to adjust the…

Q: Your organisation is hoisting a seminar on Covid-19, which will require a renowned consultant from…

A: Cost Estimation :— Cost estimation in project management is the process of forecasting the financial…

Q: efine the term materiality and explain why it may be d

A: Materiality is quite important in preparing the financial statement and it is very important to the…

Q: One item is omitted from each of the following summaries of balance sheet and income statement data…

A: A balance sheet is a statement of the financial position of an entity at a particular date. An…

Q: Blaster Corporation manufactures hiking boots. For the coming year, the company has budgeted the…

A: In the context of the given question, we will compute the sale value and other required figures.…

Q: You're given the following details of an acquisition of Target Co. by Acquirer Ltd.. What is the…

A: An acquisition is when one company purchases most or all of another company's shares to gain control…

Q: Finch Company began its operations on March 31 of the current year. Finch has the following…

A: Introduction: Cash payments are made to the provider of services or goods by the recipient in the…

Q: Part 1 Accounting for Merchandise Inventory Purchases ournalize the following transactions of…

A: Journal Entry :— It is an act of recording transaction in accounting books.    We record journal…

Q: ject a project. Your should refer to all four investment appraisal methods.

A: Capital budgeting is  used to decide whether a project should be accepted or rejected. Capital…

Q: Evan Roberts owns a business, Shore Sports, that rents canoes and kayaks. The adjusted trial balance…

A: The net assets of the business are represented by the owner's capital account. It is the sum of…

Q: Standard Materials 6 unit $ 2 per unit Labor 1/4 hour 8 per hour Variable factory overhead 3/4 hour…

A: Journal - A journal is a thorough account that documents all of a company's financial activities. It…

Q: Nature Place operates a commercial plant nursery where it propagates plants for garden centers…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: 0 ences exchange for its common stock to launch the business. On December 31, the company's records…

A: Income Statement :— Income Statement is the First stage of the Financial Statement of the Company…

Q: (a) Fill in the missing entries for the first two payments of the amortization schedule. Balance…

A: When a borrower borrow money from the lender, he has to pay regular installments to repay the loan.…

Q: Disparate-impact discrimination occurs when a protected class is adversely affected by the practice…

A: Even when an employer intends to have a positive influence on all protected classes, disparate…

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.