Accounting Question
Q: Pharoah Company has accounts receivable of $98,700 at March 31, 2022. Credit terms are 2/10, n/30. A...
A: An organisation whose motive is to procure income through selling goods & services to the custo...
Q: This module discusses discounts given out to customers based on payment terms, such as 2/10, n/30. :...
A: . Percent of cash discount since 3/15, n/45 is the credit term between the seller and buyer which me...
Q: info in images
A: Answer - “Since you have posted a question with multiple sub-parts, we will solve first three subpa...
Q: Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be ...
A: The gross profit margin is a rate of earning before deducting the expenses. The elimination of a dep...
Q: Problem 07-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management o...
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: On July 4, Sheridan's Restaurant accepts a Visa card for a $450 dinner bill. Visa charges a 2% servi...
A: Service charge expense = $450*2% Service charge expense = $9
Q: 1) Barkoff Enterprises, which uses the high-low method to analyze cost behavior, has determined that...
A: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units - ...
Q: Monica bought a $1,850 4K Ultra HD TV for 20% down, with the balance to be paid with interest at 16%...
A: An amortization schedule is used to indicate the periodic payment with each interest and principal p...
Q: McKay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar...
A: Weighted Average cost method: In this method, the value of closing inventory is calculated on the ba...
Q: Jinx Company provided the following information for 2013 in relation to accounts receivable: Account...
A: Formula: Net sales = Credit sales - Sales returns Deduction of sales returns from sales derives the ...
Q: ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositor...
A: Introduction Philippine Deposit Insurance Corporation [PDIC]: PDIC is abbreviated as Philippine Depo...
Q: 1. You are a recent graduate and you are working in the accounting department of Macy’s. Next week, ...
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: Elite Home Decor manufactures customized household furnishings. The company uses a perpetual invento...
A: Under (over) applied overhead = Actual overhead - Allocated overhead If the answer is positive, th...
Q: 5. Suppose you are the sole owner of company ABC. The market value of your c $100 and there are 20 s...
A: When the combined value of entity is more than its individual added together, there is a synergy gai...
Q: Special OrderTotal cost data follow for Glendale Manufacturing Company, which has a normal capacity ...
A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS Solution a: Glendale Manufacturing Company - Dif...
Q: The adjusted cash balance as at November 30, 2017 is a. P49,178.22 b. P49,978.69 c. P50,189.60 d. P5...
A: Bank Reconciliation Statement is prepared in order to identify the reason for not matching the balan...
Q: Siargao Company recently acquired two items of equipment Acquired a press at an invoice price of P3,...
A: Note: Since you have posted multiple questions, we will solve the first question with 2 subparts. Pl...
Q: Question-Anuradha Enterprises manufactures and sells black phenyl worth Rs.20,000 white phenyl worth...
A: Cost Indifference Point: The cost indifference point is also known as the Break-even point where no ...
Q: 14) Sophie Corporation recently produced and sold 107,000 units. Fixed costs at this level of activi...
A: Given that: Present level = 107000 units Fixed cost = $55300 Variable cost = $107000
Q: 1. It is the obligations of the company payable in money, goods or service 2. These are non-current...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: Example of Family financial positions with identified assets,liabilities and owner's equity.
A: Financial statements are the report which is prepared and maintained by a business to find out their...
Q: Find cash conversion cycle. Inventory conversion period = 50 days Average collection perio...
A: Cash conversion cycle is a measure which was used to find the required time to needed to convert the...
Q: Complete part d
A: Depreciation indicates the fall in the historical amount of the asset representing the damage take p...
Q: Identify the three categories of client objectives. Indicate how each objective may affect the audit...
A: In auditing, the risk of material misstatement (ROM) indicates the assessment of risk by the auditor...
Q: Kay turned 70 ½ on March 17th of Year 2. Her profit-sharing account balance was $500,000 at the end ...
A: Divide your retirement account adjust at end of the year(as of December 31st of the earlier year) by...
Q: Explain the relationship between the methodology for designing tests of controls and substantive tes...
A: SOLUTION- Test of controls: auditors assess control risk based on understanding of internal control ...
Q: Mahsuri Pte Ltd is preparing budgets for the second half of Year 2021. The profit forecasts for the ...
A: Cash budget is the budget which involves estimates for receipts and payments for the upcoming period...
Q: A company has budgeted sales for January and February of 20,000 and 25,000 units, respectively. The ...
A: Given the following information: Budgeted sales for January: 20,000 units Budgeted sales for Februa...
Q: Define misappropriation of assets and give two examples of misappropriation of assets.
A: please give a like your response matters misappropriation of assets: misappropriation of assets refe...
Q: What was the gro6s profit ratio for the year-ended December 31, 20XS?
A: The first question is answered for you. Please resubmit specifying the question number you want answ...
Q: You operate a major distribution center in Seattle, WA. A customer in Boise, ID., a customer in Salt...
A: (1). Cost of 4 separate shipments = Load to be sent to Boise * LTL rate from Scattl DC to Boise + ...
Q: Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate...
A: Principal, P = $1,200 Interest rate, r = 12% = 0.12 Time T = July 7 to Jan 10
Q: Moon Company assigned P1,500,000 of accounts receivable as collateral for a P1,000,000 loan with a b...
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Bank reconcilation
A: The bank reconciliation statement helps to determine the corrected cash balance.
Q: On March 3, Vaughn Manufacturing sells $723,600 of its receivables to Western Factors Inc. Western F...
A: Journal entry: This is the first step to record accounts. It is written in the same order in which t...
Q: Lotus contractors construction. Building cost= $13650000. Weighted average accumulated expenditures ...
A: Depreciation is an accounting method where the assets are gone through wear and tear over the period...
Q: Appliance Apps has the following costs associated with its production and sale of devices that allow...
A: Particular Amount Direct material 26 Direct labor 11 Variable manufacturing overhead 3 Fixed...
Q: Phone Technologies manufactures capacitors for cellular base stations and other communications appli...
A: Actual Results ( Units ) = 11000 Flexible Budget ( Units ) = 11000 Static Budget ( units ) = 9000
Q: Rouse manufactures coffee mugs that it sells to other companies for customizing with their own logos...
A: Standard costing: Under this costing method, the expected costs are used in the accounting records i...
Q: The entry to record the receipt of payment within the discount period on a sale of $2400 with terms ...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: What specific components should a AIS need to suit a typical company? inputting; storing; ...
A: An accounting information system is a software which is used to - Collect Store Process Retrieve ...
Q: During 2019 (its first year of operations) and 2020, Fieri Foods used the FIFO inventory costing met...
A: Part 1:
Q: 2 Question No.2 Following are the transactions of a Merchandise business. Price per Unit $400 Produc...
A: SOLUTION- JOURNAL ENTRIES DATE PAR...
Q: On December 1, 2020, Papa Po Company assigned specific accounts receivable totaling P200,000 as coll...
A: Carrying amount is defined as the asset original cost minus the accumulated depreciation, and at ini...
Q: Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follo...
A: DATE PURCHASE COST OF GOOD SOLD ENDING INVENTORY OCT 1 UNITS RATE AMOUNT UNIT ...
Q: As auditor for Chrisley and Dale Associates, you have been assigned to check McKesson Corporation’s ...
A: As you have posted multiple independent question we will Answered first three for you kindly repost ...
Q: In its income statement for the year ended December 31, 2020, Angel Company reported revenue of P5,0...
A: Cash basis of accounting - As per this concept, financial events are recorded in the books for which...
Q: Journalize the following transaction on the books of both companies. Blossom Company buys merchandis...
A: Journal entries are used to record transactions which was performed by the business in which it invo...
Q: Sell or Process Further Dakota Coffee Company produces Columbian coffee in batches of 7,500 pounds. ...
A: Decaf Columbian units = 7,500 x (1-5%) Decaf Columbian units = 7,125 Workings: SellRegula...
Q: i need definations only with example Deferred taxation defination ?
A:
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