3.Which of the following pairs of inventory terms would NOT usually go together?   a. Periodic inventory system and Purchases account b. Perpetual inventory system and Cost of Goods Sold account c. Gross method and Purchase Discount account d. Net method and Purchase Discount account

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A: Correct option: B. Impairment loss of $ 250,000 Incorrect options: A. Impairment gain of $ 550,000 C...

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A: 1     Particulars Formula Amount (P) Cost of production     Variable cost (P28*30000) 840000 ...

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A: A business is said to break even when it is total sales are equal to it is total costs. break even i...

Q: Mauro Products distributes a single product, a woven basket whose selling price is $23 per unit and ...

A: Formula: Break even point in Units =  Fixed cost / Contribution margin

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A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first questi...

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A: Journal is the book of original entry in which all the transactions of the business are recorded ini...

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A: Solution Concept Book value of ordinary share      =ordinary share capital +share premium +retained ...

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A: Solution Answer As per the BIR provisions When a tax payer dies the accounting period shall be from ...

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A: As per accounting equation assets equal to sum of liabilities and equity. The equity gets effected b...

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A: Total amount paid for merchandise is calculated as below.

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A: Accrual concept of accounting says that all incomes and expenses of the business for the particular ...

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A: The work in process includes the cost of jobs which are not yet completed at year end. The goods tha...

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A: An Auditor is a person responsible for verifying the financial statements or we can say financial re...

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

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A: Counting cash and verifying bank reconciliation are basic substantive procedures andsame ia required...

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A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...

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A: Direct tax refers to tax payment made by a individual or any other legal entity such as firm, compan...

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A: The answer is stated below:

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A: Payroll refers to the employee's salary register that is maintained by the employer in which all emp...

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A: Answer: Gross compensation income is the amount that is received from employer before any deductions...

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A: Variable utilities cost per machine hour=Highest activity cost-Lowest activity costHighest machine h...

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A:

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A: In accounting, the term "equity" refers to a company's book value, which is the difference between s...

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A: Journal entries are used to keep track of financial transactions. To create a journal entry, you ent...

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A: Accounts payable specialist is the person who has the responsibility of financial processing of busi...

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

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A: Impairment Loss = Carrying Value - Recoverable value Carrying Value = Cost of asset - Accumulated de...

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A: Internal controls are a set of preventive measures that are put in place with the purpose of ensurin...

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A: Note: Under FOB destination freight is the seller's expense but under FOB shipping point, freight is...

Q: Based on the data given, Determine the Working Capital in 2017 You discovered the following errors i...

A: SOLUTION WORKING CAPITAL  = CURRENT ASSETS -CURRENT LIABILITIES.

Q: Based on the data given, Determine the Working Capital in 2018 You discovered the following errors i...

A: Rectification of Errors: It is  procedure  to  revise mistakes/errors  made in recording transaction...

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A: Computation of net assets of B Ltd at Fair Value and determining Goodwill/Gain on bargain purchase ...

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A: Petty cash is the money that a entity keeps on hand to make small payments, purchases, and reimburse...

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