3- Implementation of planned decisions and evaluating performance is classified as: a. Evaluation b. Decision making c. Controlling d. Performing

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A: Cash balance: It implies to the cash including coins, paper notes, cheques, money order, etc, that…

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A: Net present value is one of the methods of capital budgeting  where projects net present value is…

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A: Calculation of share premium before purchase of own (treasury) shares: Date   No of shares…

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A: Borrowing costs commences to be included in the cost of assets when all the following conditions…

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A: Taxable income is the value at which the tax is calculated by the company.It is calculated by…

Q: 0. Nicanor, single, received the following in 2022: Proceeds of his life insurance paid at annual…

A: Gross income refers to the income which involves the wages, retirement distributions, dividends,…

Q: 2020. 2. Prepare the correcting entry assuming the error was discovered in 2021 before the adjusting…

A: Straight-line depreciation The simplest direct approach for determining an asset's loss of value…

Q: $40,000 6,000 Net income Depreciation 2,000 (800) 1,800 8,000 Increase in accounts receivable…

A: Net cash provided by Operating activities = Net Income + Depreciation expense - Increase in accounts…

Q: “IFAC defines the public interest as the net benefits derived for, and procedural rigor employed on…

A: Introduction: International Federation  of Accountant (IFAC): It is an international association for…

Q: . S1: Minimum corporate income tax (MCIT) is imposable on all domestic and resident foreign…

A: Mimimum corporation Income tax is chargeable @ 2%  (if MCIT is greater than regular income tax) on…

Q: Cost of Goods Sold $164,000 Income Tax Expense 17,470 Merchandise Sales (gross revenue) for Cash…

A: Formula for Calculating Gross profit: Gross Profit = Net sales revenue - Cost of goods sold

Q: 1. Compute the present value of a $2,000 deposit in year 1, and another $1,500 deposit at the end of…

A: Present value means the actual amount is adjusted with the interest rate so as to get the present…

Q: The supplementary ledger account of material Z presented the following entries in June 200X: No Date…

A: Ending inventory is the goods that are left with the entity at the end of the period.

Q: egistering and iss

A: It is given that the balance sheet information of January 2, 2021 PAMIGAY CORP.

Q: 9.5 Irish Catering Ltd. started in business on 1 January 2010, its financial year ending 31…

A: Depreciation is the reduction in the value of assets due to normal wear and tear, passage of time,…

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A: Accounting financial statements provide a snapshot of a company's operations, financial status, and…

Q: Correcting the Trial Balance: Near the end of the year, Alpha received $2,000 cash in advance from a…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period.

Q: 9.5 Irish Catering started in business on 1 January 2010, its financial year ending 31 December. The…

A: Depreciation is the amount which is to be reduced from value of assets to recognise the normal…

Q: Exercise 1-7 Determining profit LO6 Profit (loss), owner withdrawals, and owner investment cause…

A: Profit or loss made during the period is an important part of retained earnings of the business. Any…

Q: Rockets Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2021. Inventory…

A: LIFO is that inventory valuation method under which inventories which are purchased in last will be…

Q: A lease agreement whereby the lessee recognized rent expense which is always equals to the rent…

A: The lease is a type of agreement between the lessor who is the asset owner and the lessee who takes…

Q: These statements are presented to you for evaluation: Statement I - A deficient but not delinquent…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: value aft

A: Service Output Method also known as Working Hours Method. The formula : Depreciation per hour as, =…

Q: Required: Present the operating activities section of the statement of cash flows for Guy's Gear…

A: Introduction:- A cash flow statement denotes total amount cash is inflows and cash outflows your…

Q: On January 1, 2019, Chiz Company acquired equipment to be used in its manufacturing operations. The…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: . On December 31, 2021, JV Company purchased for P4,000,000 cash all of the outstanding ordinary…

A: The value of goodwill is calculated by reducing the carrying value of liabilities from the fair…

Q: Year end inventory is valued at £215,000. However, there are several items included within year end…

A: Inventory:  It includes all the finished goods available for sale to the ultimate customers and raw…

Q: on

A: Yes, cultural influences are likely to have an impact on accounting measurement or disclosure…

Q: 3. Assume that on January 1, 2018, the company received a new estimate that the mine now contained…

A: Answer:- 3 Journal entry:-  Date Particulars Amount (Dr.) Amount (Cr.) January 1 2018…

Q: Compute the DD&A based on equivalent energy units for 2020. Show ALL workings

A: Equivalent Units- Equivalent units are measures of how much work a manufacturer does. Simply put,…

Q: What is preferred stock and common stock?

A: The term "stock" refers to a company's ownership or equity. Common stock and preferred stock are the…

Q: Exercise 3 -7 1. Martin and Isidore form a partnership with investments of P 1,000,000 and P 500,000…

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

Q: Jilk Inc's contribution margin ratio is 619% and its fixed monthly expenses are $47,500. Assuming…

A: Formula : Net operating income = Contribution margin - Fixed expenses Deduction of fixed expenses…

Q: You are considering the purchase of a house. The morigage company is approving 15-year loans at…

A:

Q: On January 1, 2021, Tonge Industries had outstanding 540,000 common shares ($1 par) that originally…

A: Basic earnings per share: - Basic EPS measures how much a business earns per share without going…

Q: 9 Explain how the effectiveness of general control affects the auditor's test of automated…

A:

Q: ersity Company produces and selis four products; A, B, The following data relate to its four…

A: Since the labor time is limited or the scarce resource here the company should produce the products…

Q: An engineering study performed in 2021 indicated that on January 1, 2021, 7,500,000 tons of…

A: Depletion refers to the reducing in the value of natural resources of the earth from extraction of…

Q: Taking advantage of a 2/10, n/30 purchases discount is equal to a yearly savings rate of…

A: Yearly savings rate (in percent)= Discount rate ×[Number of days in a year/(Total credit period -…

Q: Wright Corp. is considering the purchase of a new piece of equipment, which would have an initial…

A: Introduction:- Payback period is one of the capital budgeting tool. It identifies how much time…

Q: Which is FALSE? S1 – A Notice of Discrepancy needs to be settled within 30 days from receipt of…

A: Notice of discrepancy refers to the written notice which is issued through BIR informing the…

Q: A lease agreement whereby the lessor shall recognized gross profit at inception of the lease

A: A lease agreement whereby the lessor shall recognized gross profit at inception of the lease is…

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A: As per IAS 16, Property, plant and equipment Cost of property plant and equipment does not include…

Q: Below is a list of selected account balances at the end of the accounting period in 2019, but before…

A: Trial balance:  It implies to a statement or worksheet that shows all the ledger postings in a…

Q: gross

A: a) For the month of January, Mary's take-home salary would've been $14,560. To get at this figure,…

Q: Net income after tax is: The difference of financial income and total deferred income tax expense.…

A: Net income is the amount of money earned by an entity after deducting its outlays from the revenues.…

Q: 3. What is the total spending variance? a. P4,000 unfavorable b. P3,000 unfavorable c. P4,000…

A: Spending Variance A spending variance is the difference between the actual amount of a particular…

Q: hen financial income is higher than taxable income and no permanent differences, the company most…

A: Solution Concept Deferred tax asset or deferred tax liabilities shall be recognized when there is…

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A: Formula: Earnings per share = (Net income - Preferred dividend) / Weighted average outstanding…

Q: Mark Company quarries limestone, crushes it and sells it to be used in road building. Mark paid…

A: Formula: Depletion rate per ton = (Cost of the Quarry - Residual value) / Estimated total reserves…