600,000 40,000 25.000

Q: Lure Corporation is using the cost model for noncurrent assets. On October 1, 2020, the entity…

A: If non-current assets are classified as held for sale, then on such change in classification,…

Q: prepare manufacturing acc

A: The requirement is to prepare the manufacturing account for James ltd. The manufacturing account…

Q: briefly explain what is meant by breakven points

A: Breakeven point is an important term used in cost accounting.

Q: Determine the minimum transfer price that Cutting Division would accept. 2. Determine the maximum…

A: Ans 1. Minimum transfer price cutting division would accept = Its variable cost being incurred to…

Q: nt sum needed to prow year is closest to:

A: The answer has been mentioned below.

Q: How should we record the journal entry that was on question 4? We are somewhat confused regarding…

A: W.N.1 Calculation of Depreciation Expense based on Input             Year Depreciable Amount…

Q: Why is the net income .90

A: Lets understand the basics. Cashflow statement are divided into three type of activities which are,…

Q: Hume, Ltd had the following production data for August:   Beginning Inventory, Raw Materials:…

A: The job costing computes the cost of jobs separately. The overheads are applied on the basis of…

Q: Calculate the sales activity to reach a target profit of £20,000.

A: Target Unit Sales Volume - It refers to the cost volume profit analysis. In this to earned target…

Q: Pastina Company sells various types of pasta to grocery chains as private label brands. The…

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…

Q: andy plc manufactures 2 products through two production epartment and the Assembling Department. It…

A: Overhead absorption rates refer to the pre-estimated rate at which the overhead expenses are charged…

Q: BUS 208 - Principles of Accounting II Chapter 12 Karen Smith and Abby Jones formed a partnership,…

A: Total share in Net Income=Interest on Capital+Salary allowances+Share in Net Income

Q: Journalize the February payroll and the payment of the payroll. (Credit account titles are…

A: A journal entry is used in an organization's financial records to document commercial transactions.…

Q: share of Partnership A's loss is $40,000. If he has passive income from other sources of $35,000,…

A: Partnership income is the income which has been earned by the partnership during the year and the…

Q: On December 31, 2019, an entity reported the following equity items: 8% cumulative preference shares…

A: The earnings per share is calculated as net income available to common shareholders divided by…

Q: Remember the four management functions? They are planning, organizing, leading, and controlling.…

A: During this time period, I was given the responsibility of serving as the operations manager for the…

Q: overhead cost to jobs on the basis of machine-hours. For the current year, the c hours and incur…

A: Calculation of overhead rate on the basis of machine hours = Manufacturing overhead cost/Machine…

Q: Required: Adjusting entries

A:

Q: I can't even read your handwriting. And the images are sideways. Can you type it up?

A: 1.           1 Computation of Predetermined OH Rate  =$252000/20000 hours $12.60 per DLH…

Q: On July 1, 2022, Proton, Inc. sells equipment for P44,000. The equipment originally cost P120,000,…

A: Given: - Cost= 120,000 Accumulated Depreciation=70,000 Salvage value=20,000 Useful life= 5 years

Q: Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year,…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: Prepare the income statement for 2021 and a balance sheet as of December 31, 2021.

A: The income statement represents the net income or net loss that is calculated by deducting the…

Q: 3. Athena Co. held the following items on Dec. 31, 20x1: P₁ Petty cash fund (currencies and coins,…

A: The cash and cash equivalents are the amount of current assets which can be used as cash during…

Q: The product cost  period cost  opertunity cost

A: Solution:- 1)Calculation of product cost as follows under:- Product cost means costs incurred to…

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A: Introduction: The curve, or degree of the curve, in the connection between borrowing costs and bond…

Q: Persistence Inc. provided the following information at year end: Share capital 15,000,0000 Share…

A: The total shareholders' equity refers to the total amount in the statement of the financial position…

Q: Charmaine purchases goods to the value of R503,48 from a supermarket .The VAT-exclusive items are…

A: The VAT stands for Value Added Tax. The VAt is a type of indirect tax that is charged on the goods.…

Q: Price paid cash , Number of shares, Market Price per share be?  Would it be? Cash: $480,000 Number…

A: A business combination is a transaction in which the acquirer obtains control of another business…

Q: An asset for drilling was purchased and placed in service by a petroleum production company. Its…

A: The decreasing balance technique appears to be an accelerated depreciation method, recording greater…

Q: The following balances were extracted from the books of Good, Gooder & Goodest Limited at December…

A: 1. Income Statement 2. Balance Sheet   The first statement shows the income earned and loss incurred…

Q: 9. Joe is married and claims three allowances. The gross earnings on his last biweekly check were…

A: The federal withholding tax rate is applicable based on the filing status of the taxpayer and the…

Q: sine oste

A: Accounting cycle process consists of identifying transaction, record of journal, posting into…

Q: On January 1, 2019, Tulip signed an agreement to operate as a franchise of Flower Service Inc. for…

A: In the context of the given question, we are required to compute the carrying amount of intangible…

Q: On July 15, 2017 Matrix Corp sells 20,000 snoe shovels to a distributor for $15 per shovel. The…

A: Sales Revenue  The total amount of money earned by an organization from the sale of goods or the…

Q: Net Income .90  How did you get .90 please explain

A: Closing Balance of Retained Earnings = Opening Balance of Retained Earnings + Net Income/(losses)…

Q: 1. What amount of depreciation should be reported in the historical cost income statement for 2021?…

A: 1. Depreciation Expense based on Historical Cost = P5,000,000/5years = P1,000,000     2.…

Q: Determine his income tax due at the end of the year and his income tax payable

A: Income tax payable is the tax amount payable by the individual which is equal to the amount which is…

Q: igu, Vinilly Haping proviny ne Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] Help [The…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: Due to the pandemic,  people are not shopping for the latest apparel in nearly the expected numbers.…

A: Inventory are important components of business because without inventory no business can survive and…

Q: What is the ending balance of the following account on April 30? Accounts Payable Payments 2,000…

A: >Accounts Payable is the accumulated balance that the company or organisation owes to suppliers…

Q: At the end of the first month of opening your business, you calculate the actual operating costs of…

A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…

Q: The Levi Company issued $78,000 of 11% bonds on January 1 of the current year at face value. The…

A: Semi-annual interest=Face value of bonds×Coupon rate×6 months12 months

Q: In 2021, Roger sold 1,500 units at P500 each. Variable expenses were P300 per unit, and fixed…

A: >The relationship between Cost, Volume and profit is necessary as it tells how each of them are…

Q: Chapter 3 of the text focuses on The Accounting Framework, which includes a discussion of the…

A: The company produces financial information as a result of business operations. The financial…

Q: Johnson Industries purchased metal-working lathe for $38,000. This item will be used for business…

A: Introduction Depreciation is an annual deduction that allows to recover the cost or basis of certain…

Q: C Opti Systems needs 85,000 optical switches. By outsourcing them, Opti Systems can use its idl-…

A: In making or buy decision-making process the company should choose that option that provides lowest…

Q: The following data are available for X Corp: Gross profit is 20% based on cost. Using ABC, compute…

A: Activity-based costing (ABC) is a method of allocation of the overhead costs incurred in the…

Q: A. Prepare journal entries to record the transactions. B. Prepare T-accounts to show the flow of…

A: Journal is the recording or financial transactions which are to be posted in the T accounts in order…

Q: Recommends, with justifications, methods and tools that allow businesses to analyse financial data…

A: Strategic decision-making appears to be the process of identifying the optimum plan for meeting…

Q: Why does april get 10% and june 30%?

A: Your planned cash receipts seem to be the sums of money you expect to receive based on the sales…