ancial report
Q: Plaridel Construction's adjusted trial balance Accounts Payable... Property Taxes Payable. Short-Ter...
A: Statement of financial position is one of the financial statement which shows all assets, liabilitie...
Q: On January 4, 2021, P Company purchased 75% interest in S Corporation for P300,000. S's recorded ass...
A: When preparing consolidated financial statements, inter company transactions shall be eliminated to ...
Q: Treacy Company uses a job-order costing system. Assume that Job #504 is the only one in process. The...
A: Total cost of Job #504 = Direct material + Direct labor costs + Applied overhead cost where, Applied...
Q: The overhead cost per unit of Product A under the activity-based costing system is closest to: Grou...
A: The correct answer is $73.44. Working Calculation of Activity rates Activity Cost Pool Activi...
Q: PR 18-5B Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing ...
A: Cost of Goods Manufactured: It is possible to compute a company's overall manufacturing expenses for...
Q: The Bankruptcy Code exempts (limited to a certain dollar amount) which type of property? jewelry fam...
A: Bankruptcy is a type of insolvency in which people who are unable to pay their debts seek relief fr...
Q: The National Inc. will produce 5,000 boxes of chocolates next year. Variable costs is 60% of sales,...
A: The correct calculation of the above question is given in the following steps for your reference.
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...
A: Working notes: Selling price per unit = $134 Variable expenses per unit = $67 Contribution per un...
Q: Precilla, vice-president of operations for Sturgis National Bank, has instructed the bank's computer...
A: No ,Precilla is not behaving in professional manner. It has an impact on stakeholder interests. Ac...
Q: Gale, McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gal...
A: The first step in accounting is a journal entry, which is used to record a business transaction in a...
Q: n an operating lease, the lessee records interest expense. lease expense. amortization expense and...
A: Solution: Operating lease is to give right to use the asset without transferring ownership rights. O...
Q: Joyful Journeys Music School provides private music lessons for elementary students. Its operating c...
A: The break even sales are the sales where business earns no profit no loss during the period.
Q: The initial direct costs of leasing include lessor advertising costs. are generally borne by the l...
A: Introduction:- Initial direct costs included costs incurred by the lessor. It includes the amounts o...
Q: On January 2, 2020, P Corporation purchased 80% of the outstanding shares of S Company for P4,750,00...
A: In Consolidated Statement of profit and loss, there should be an additional depreciation for the dif...
Q: Rosario Company, which is located in Buenos Aires, Argentina, manufactures a component used in farm ...
A: Formula: Break even point in units = fixed cost / Unit contribution margin
Q: Prepare journal entries. 1 Record the issue of common shares to promoters. 2 Record the issue of ...
A: Journal Entries of Trio Networks Corporation’s for 2020
Q: An equity analyst, has determined that the appropriate ratio of Enterprise Value to EBITDA (EV/EBITD...
A: Enterprise value is a valuation of a company based on market value and not the book value. The mark...
Q: The capital structure of Bulldogs Inc. is comprised of 50% ordinary stock, 25% preferred stock, and ...
A: Formula: Weighted Average Cost of Capital = (Cost of Ordinary Stock X Weighted of Ordinary Stock) + ...
Q: Which of the following accurately shows the constraint on the daily capacity for the second producti...
A: In business and industry, linear programming is used for production planning, transportation and rou...
Q: On January 1, 20x1, HALOHALO Company granted 1,000 share options to each of its 100 key employees co...
A: It is assumed that the par value of share option is P10 Share premium per share option= P60-P10 = P5...
Q: ariable cost per unit $2.45 Fixed cost per unit 4.75 Total cost per unit $7.20 Determin...
A: In marginal costing , the variable cost per unit and the total fixed cost remains unchanged irrespec...
Q: d Co. manufactures two types of O rings, large and small. Both rings use the same material but requi...
A: In this question, we have to calculate different variances.
Q: A manufacturing company that produces a single product has provided the following data concerning it...
A: Variable costing is a cost accounting and management concept that deducts fixed manufacturing expens...
Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of th...
A: Solution.... Estimated manufacturing overhead costs = $328,000. Estimated direct labor hours =...
Q: Compute Current Ratio and Quick Ratio. If Cash is ? 1.50 Lakhs, ST Investments are 2.50 Lakhs, Bank ...
A: Given, Cash = 1.50 lakhs Short Term Investments = 2.50 lakhs Bank = 8.50 lakhs Debtors = 5.50 lakhs ...
Q: January 2, 2020, P Company acquired 80% investment in S Company. The acquisition cost was equal to P...
A: The question is related to Consolidation. The details are as under Share of P in S Company = 80% N...
Q: HO operates a branch in Makati. On October 31, 2017, the Branch Current account had a balance of P3...
A: We have to make adjustments of the information provided in the question to arrive at the unadjusted ...
Q: If National Co. treats the AB Division as an investment center for performance measurement purposes,...
A: Before tax ROI = Income before tax/ Average investment in total assets Before tax ROI = 400,000/ 2,4...
Q: The following information relates to Automative Services on 30 June 2021. Vehicles 135,000 160,000 7...
A: Automative Services Balance Sheet At June 30, 2021 Assets Current Assets Cash at Bank ...
Q: SD acquired the net assets of both GM and SR. Paying cash in the amount of P185,000 and by issuing 1...
A: Hence, option 3rd and 4th is correct
Q: What is the adjusted amount of shareholders’ equity that should be reported by REBOND in its Decembe...
A: The question is related Shareholder's equity as on December 31st, 2021. Inventory will be Valued at...
Q: If the incremental cost of producing an item in the short run is less than the outsourcing price, th...
A: Outsourcing price is the price paid to someone else for making a product whereas in house cost is th...
Q: 1 The company's bank statement shows a cash balance of $12,000. Comparing the company's cash records...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: STRAIGHT Company accounts for non-current assets using the revaluation model. On October 1, 2022, th...
A: Revaluation Surplus: A revaluation excess is a kind of equity account in which any increases in the ...
Q: LOWE'S Balance Sheets (in millions) Fiscal 2013 Fiscal 2012 Amount Percent Amount Percent Assets Cur...
A: Price/Earning Ratio = Share Price/Earnings per share Generally, the Market price per share is taken ...
Q: A company acquired a building, paying a portion of the purchase price in cash and issuing a mortgage...
A: Cash flow statement only includes the cash inflows and outflows.
Q: Nadine visits Urban Air, a trampoline park. Before Nadine can enter the trampoline park, Urban Air r...
A: This is a Multiple Choice Question in which we have to select the correct option
Q: The debt ratio is calculated by dividing total assets by total liabilities Group of answer choices T...
A: The correct option with proper explanation are as follows
Q: On January 1, 2022, an SME acquired a building for P10,450,000 including P500,000 nonrefundable purc...
A: Given information, Present Value of Acquisition Cost =P10,450,000 Legal fees =P220,000 Discount rate...
Q: Orear Corporation manufactures two products: Product Z34D and Product J25M. The company uses a plant...
A: Traditionally the overhead cost is allocated on the bases of plantwide overhead rates. The activity ...
Q: Kuchen Manufacturing uses backflush costing to account for an electronic meter it makes. During Augu...
A: Given information, Unit price per unit=P64 Units sold =15,800 Incurred P708,000 of conversion costs....
Q: s net capital gain c
A: ATRIG corporation sold some of its Capital Assets and Derived Gain / Loss from its.
Q: Present value of decommissioning and restoration costs are capitalized as PPE and with a correspondi...
A: Decommissioning cost is the cost which will be incurred when the asset useful life is over or when t...
Q: The Bulldogs Inc.’s stock price is believe to decline from its current level of P125 anytime during ...
A: The correct answer for the above mentioned question is given in the following steps for your referen...
Q: Data table More info Before including the current year's gain and loss, Sandy and Dan had $38,000 an...
A: Partnership refers to the form of business in which two or more partners are ready to manage and ope...
Q: 2- What is the different between Account payable and Account receivable?
A: Accounts payable (AP) are money due by a company to its vendors, whereas accounts receivable are fun...
Q: The following is Arkadia Corporation's contribution format income statement for last month: Sales...
A: The break-even point in units is determined by dividing the total fixed expenses with the contribu...
Q: From a consolidated point of view, the intercompany gain or loss on a parent’s sale of a non-depreci...
A: Solution Concept When the consolidated financial statement is to be prepared , the intercompany tran...
Q: In addition to other costs, Grosha Telephone Company planned to incur $600,000 of fixed manufacturin...
A: Predetermined overhead rate = Estimated manufacturing overhead cost / Estimated total units in the a...
Q: 7....Stellar Industries and Pearl Inc. enter into an agreement that requires Pearl Inc. to build thr...
A: Calculation of depreciation Building cost = $2362000 / 10 years = 236200 Statement of lease ...
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- Discuss what information would be most useful for these users of accounting information: Management Employees Investors Creditors Customers Tax authoritiesExternal users of financial accounting information include all of the following except ________. A. lenders such as bankers B. governmental agencies such as the IRS C. employees of a business D. potential investorsExplain how the accounting equation organizes financial information using T-accounts and debits and credits.