Accounting includes activities such as identifying, measuring, and communicating financial information to various stakeholders.   True or False

Q: Fixed Cost per Month Cost per Cruise Cost per Passenger Vessel operating costs $ 6,400 $ 478.00 $…

A: Flexible budget is the budget prepared by the management which represents the budgeted costs at…

Q: ansactions pertaining to Cash were taken from the books of ABC Company  for the year 2021:…

A: Cash flows from Operating activities includes all those cash transactions which flows from…

Q: Gross profit method - GPR based on sales - - On Nov. 29, 20x1, a meteorite struck the warehouse of…

A: Inventory means the goods in which business deals. Inventory can be calculated by preparing the…

Q: kavita purchased a machine for Rs. 80,000 on 1st April, 2015. She charged depreciation on SLM basis…

A: Depreciation refers to a decrease in value of an asset over its useful life due to the factors such…

Q: the budget of a project is $1 million. The actual cost for work performed is currently $700k. The…

A: Scheduled performance index (SPI) and Cost Performance Index (CPI) are two kind of project…

Q: Problem 5 Ready Flashlights, Inc. needs P300,000 to take a cash discount of 2/10, net 70. A banker…

A:

Q: Cion and Erro agreed to form a partnership with agreed capitalization of 300,000 with Erro…

A: Total capitalization = Cion contribution + Erro contribution  where, Cion contribution = Total…

Q: Which of the following equations is the standard basic accounting equation? Assets minus owner's…

A: Accounting equation means the relation between the assets , liabilities and owner equity. Assets…

Q: The 2021 comparative balance sheet and income statement of Auga Company Ltd, have just been…

A: Given: The information available in the question are as follows: Comparative balance sheet and…

Q: Chapter3 PROBLEMS The following information is extracted from the general ledger of Super Massage…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: A company provides each of its directors with a car. It has purchased these at £35,000 each. After 4…

A: Reserve Value after 4 years = Cost x 40% Rate of Depreciation = 1 - (Reserve Value / Cost)^(1 /…

Q: ssume the following information:   Milling Department Materials Conversion Total Cost of beginning…

A: The term "work in process" refers to the product that is in the process of being created but has not…

Q: Content Connections Example 3: Two buddies, Gurveer and Gurleen, finished their school and training…

A: Compounding refers to the process of calculating interest over the amount of principal and the…

Q: equirements Reconstruct the company’s comparative balance sheet for 2020/2021 using the information…

A: Comparative balance sheet A comparative balance sheet is very useful as it provides insights to the…

Q: Use the following information to complete the Financial Statements a. Average collection period of…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: Flu Buster Ltd manufactures a type of oral flu vaccine in capsules. These are produced in three…

A:

Q: Credit termog 1/10, n/30 means

A: A discount provided by the seller to the buyer on the purchase of the goods and services by reducing…

Q: 7. Jack Whitcombe and Sons is a consultant engineering firm. The accounts for the firm are as…

A: Chart of accounts number are given based on the class of asset and liability, income & expense.

Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of…

A: Formula: Times interest ratio = Operating income / Interest expense

Q: January 3 Purchased equipment for $55000, paying $45000 in cash and signing a 10000, 4-month, 10%…

A: Lets understand the basics. Journal entry is required to make to record event and transaction that…

Q: Explain the fuel benefit and the income tax and national insurance contributions consequences of an…

A: Where the employer pays for any fuel used privately by the employee, there is an additional scale…

Q: T year and provid

A: Personal loan= $50, 000, Interest rate= 2.5% pa.

Q: Consider the following data: Sales -- P 100,000; Gross Profit rate based on sales -- 30%; Goods…

A: Ending Finished goods =  Goods Available for Sale - Cost of goods sold where, Cost of goods sold =…

Q: Wexpro, Incorporated, produces several products from processing 1 ton of clypton, a rare mineral.…

A: Introduction:- A cost is the amount of money spent to create something or provide a service that is…

Q: An asset is purchased for $90,000. It is expected to have a useful life of six years and a salvage…

A: Introduction: Depreciation: Decreasing value of fixed Assets over its useful life period called as…

Q: Mauro Products distributes a single product, a woven basket whose selling price is $12 per unit and…

A: Formula: Break even point in units = Fixed cost / unit contribution margin

Q: Explain double taxation, its elements, and its types

A: Governments in practically every country throughout the world levy forced charges on persons or…

Q: Required A Required B Prepare a responsibility report for the manager of the processing division.…

A: The question is based on the concept of cost management.

Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…

A: The contribution per unit and number of minutes to produce the products are different for the two…

Q: The functional presentation of expenses in the income statement is usually shown by grouping into…

A: Solution 1: True, The functional presentation of expenses in the income statement is usually shown…

Q: A and B will contribute 150,000 each and C will contribute 50,000 plus his skill. They agreed to…

A: Correct amount of the total partnership capitalization = Amount contributed by A + Amount…

Q: Question 1 The standard accounting equation Assets - Liabilities = Owner's Equity allows the…

A: Solution 1: True, The standard accounting equation Assets - Liabilities = Owner's Equity allows the…

Q: The transfer price is a revenue to sales devision and cost to the buying devision. Say true or False…

A: Transfer price is a price at which a transaction of two related divisions of the same corporation…

Q: On the basis that the main selection criterion is the product that offers the largest safety margin…

A: Product C

Q: Keir Corporation issues 10%, P5,000,000, 10-year bonds with face value of P1,000 and nondetachable…

A: Share Warrant Share warrant which can be exercised with debt securities as well.  It has both…

Q: Scenario: The 2021 comparative balance sheet and income statement of Auga Company Ltd, have just…

A: Cash Flow Statement - Cash Flow Statement show the movement of cash during the financial year. The…

Q: explain why payback period is not a preferred method

A: The payback period is a period in which the total costs of an investment are recovered through cash…

Q: January 25 Received $1150 cash for laundry services provided in January 2022.

A: Amount received from laundry services is service revenue

Q: 25. $ You plan to start your own business in 5 years once you graduate from college and get…

A: Plans to Start Business After 5 year   Plant to Save money Per Month  $     250.00 Duration…

Q: Closing entries are made:  to make all nominal account balances equal to zero to close all nominal…

A: Closing Entries are the journal entries made at the end of an accounting period. These entries are…

Q: Nighthawk Company's Income Statement for the Year Ended December 31, 2021 Sales (200,000 units)…

A: Sales (200,000 units) $1,200,000 Cost of goods sold 700,000 Gross profit 500,000 Operating expenses…

Q: A Laser cutting machine is costed on a machine hour rate basis. On the basis of the given…

A: Please see Step 2 for required information.

Q: the amount of liabilities is 165,000 and the percentage of owner’s claim in the total partnership’s…

A: Solution: As per general accounting equation, assets are equal to the sum of liabilities and equity.…

Q: QUESTION 2   Sarah Lindsay, controller for Cold Cream Company, has been instructed to develop a…

A: Budgeted overhead means the expected amount of overhead to be incurred in future depending upon the…

Q: my current selections are incorrect together. please help! Partner Jackson receives a distribution…

A: In this question, I will explain that all the true statements and also give reason that why above…

Q: Dar and Ling share in the partnership’s profit in the ratio of 2:1 respectively. Dar received…

A: Amount receive by Ling as his share = Total amount paid x Ling share where, Total amount paid = Dar…

Q: An income statement for Sam's Bookstore for the first quarter of the year is presented below:…

A: The metric, also known as dollar contribution per unit, illustrates how a single product contributes…

Q: 1c. An asset is purchased for $90,000. It is expected to have a useful life of six years and a…

A: First of all depreciation rate under straight line method will be calculated:   Depreciation rate…

Q: Un January 1 of its first month of business, Bags Bunny, Inc., paid $74,000 for six months rent…

A: Bags Bunny Inc January 1st Month of the Business Rent Paid for 6 Months  $  74,000.00

Q: On October 01, 2019, Benny and Joey pooled their resources in a partnership with the firm taking…

A: Assets = Liabilities + Capital Adjustments made in Joey's assets: Balance - inventory - Allowance…