Angel’s Pizza Ltd. Has existing assets in which it has a capital investment of P 150,000. The after tax operating income is 20,000 and company has a cost of capital of 12%. What is the estimated Economic Value Added (EVA) of the firm  a. 147,600 b. 2,000 c. 18,000 d. 2,400

Q: Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a…

A: The absorption costing assumes that all fixed and variable manufacturing costs are included in the…

Q: On January 1, 20x0, a company purchased a delivery truck for $30,000. They estimated the useful life…

A: Gain or loss on asset means the amount of money earned or lost by selling a long-term asset after…

Q: Farrin, who is single and has taxable income of $380,000, sells the following capital assets in 2022…

A: Capital gains taxes are a type of tax on the profits earned from the sale of assets such as stocks,…

Q: Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian…

A: Trend analysis is the statement which shows the increase or decrease in the percentage of each year…

Q: single mother with a six-year-old daughter who lived with her during the entire year. Adrienne paid…

A: Net Income - Net income is the remaining accounting profit a business has after covering all of its…

Q: The Elberta Fruit Farm of Ontario has always hired transient workers to pick its annual cherry crop.…

A: Whenever an investment is made, many prospects are taken into consideration whether the total…

Q: n an attest engagement, the CPA can issue a report on the a.   Subject Matter Client’s assertion…

A: Audit is an independent examination of financial statement conducted by the auditor to express an…

Q: DL Inc. has the following budgeted sales: January $145000, February $280000, and March $150000. 40%…

A: Collections during March will be: Cash Sales of March, 50% of Credit sales of March, 50% of Credit…

Q: Which of the following statements is True?       a. Budget data are generally prepared by top…

A: Introduction:- A budget is used to estimation of revenue and expenses over a specified future…

Q: Statement 1:  The dividends paid by the subsidiary are completely eliminated from the consolidated…

A: Answer  In case of any dividend  is paid / received by holding  company  or subsidiary  between…

Q: Risks that appear in the example: the head of Accounting has determined that it is necessary to…

A: EXPLANATION : Head of Accounting has determined that it is necessary to reduce the budget for loans…

Q: Solve by using the sinking fund or amortization formula. A manufacturing company has determined that…

A: Time Value of Money :— According to this concept, value of money in present day is greater than the…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Answer  Since portia grant is an employee therefore the Federal Unemployment Tax FUTA @ 0.6% and…

Q: Which of the following combinations results in an increase in sample size in an attribute sample?…

A: Auditor uses statistical sampling to perform test controls on large population data for quantifying…

Q: A company purchased land containing a copper deposit for $2,460,000 on January 7, 2024. The company…

A: Depreciable cost = Cost - Salvage Value Depreciation on land deposit for the year  = Depreciable…

Q: In 2022, Miranda records net earnings from self-employment of $171,000. She has no other income.…

A: A self-employed assessee might be an person who does now no longer have a constant profits or…

Q: When comparative financial statements are presented but the predecessor auditor's report is not…

A: There are certain duty and responsibility of auditor that is  sufficient and appropriate audit…

Q: Exercise 13-19 (Algorithmic) (LO. 4) In 2022, Ivanna, who has three children under age 13, worked…

A: The child and dependent care credit score is a tax credit score supplied to taxpayers who pay…

Q: The December 31, 2021, ledger of accounts receivable has a balance of 24,000,000. On this date, the…

A: The allowance for doubtful accounts has the credit balance. The net account receivables is…

Q: Use Table 12-1 to solve. Suppose Jorge Otero has set up an annuity due with a certain credit union.…

A: Calculation of Jorge's account after 18 months: =$150 X value given in table (6% compounded monthly…

Q: Question 1 On January 2020, RITZ Ltd acquired 80% of the ordinary shares of AUGE Ltd. The group…

A: During consolidation of financial statements, all the internally generated assets, assets at fair…

Q: In 2018, Batman Company ( an IFRS reporter) acquired equipment at a cost of $620,000. The balance of…

A: As per IAS 36 Impairment of assets Recoverable amount is greater of  1.Fair value less cost to sell…

Q: Current Attempt in Progress Coronado Inc. had beginning inventory of $19,200 at cost and $32,000 at…

A: The cost of the items that are still on hand at the end of a reporting period is known as ending…

Q: The following data is available for the Glitter Services Department of Butterfly Fairy Co. Sales…

A: Introduction: Departmental contribution to overhead is calculated by deducting cost of goods sold…

Q: Ram sold goods worth 1000. what will be accounting entry

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

Q: What are the 3 basic tools for financial statement analysis? Explain each. What is the importance of…

A: Financial statement analysis - a financial statement is a statement that presents the performance…

Q: L&M Corporation pays its employees on a graduated commission scale: 6% on the first $40,000 in…

A: Sales Commission :— It is the money earned by sales person on the basis of sales amount generated by…

Q: Allowance for Doubtful Accounts has a credit balance of $613 at the end of the year (before…

A: Bad debts expense: Bad debts expense is recognized in the books of the company when a debtor is…

Q: What is the free cash flow for this company: Net Income = $500mm Equity comp = $500mm Depreciation =…

A: In order to calculate the free cash flow for the company, we need to take into account the net…

Q: When an auditor decreases the planned assessed level of control risk because certain control…

A: Audit report represents the report prepared by an auditor that shows the opinion of the auditor on…

Q: Sales Revenue   400,000,000   Less: cost of sales   253,000,000   Gross profit   147,000,000   Add:…

A: Taxable income refers to the income which is taxable in the hands of the taxpayer at the end of the…

Q: Mr. and Mrs. Ireland have three childre

A: The American Rescue  Plan Act of 2021 increased the amount of child and depedend care…

Q: May 1. Sold merchandise on account to Taiwan Palace Co., $36,000. The cost of the merchandise sold…

A: Allowance for doubtful accounts –Allowance for doubtful accounts is the provision made by the…

Q: Proforma balance sheet for the upcoming year is given. The estimated net income is $2,621.60. If the…

A: The external financing needs It is the amount of finance that the business requires from outside…

Q: Choose three of the following five technologies/techniques and explain why you think it is helpful…

A: A. XBRL: XBRL (eXtensible Business Reporting Language) is a powerful tool that can be used in…

Q: A CPA is not independent with respect to a company’s financial statements. The CPA may issue what…

A: Audit report is the opinion expressed by the auditor after careful examination of the books of…

Q: Net income is​ ________.

A: The correct answer is: (B) Not cash flow  Net income is the total amount of money a business has…

Q: Discuss and describe the basic sections of the Auditor’s Report and explain the significance of the…

A: The basic sections of auditors report & significance of the element included in each section are…

Q: Compute the expected ROI in 2022 for the Home Division, assuming the following independent changes…

A: The question asked to compute the ROI in 2022 for the Home Division.   Return on investment: The…

Q: Problem 8-14 (Algorithmic) Intangibles (LO 8.6) Derek purchases a small business from Art on…

A: Intangiible assets include Goodwiill and covenant not to compete. As per Sec 197, Amortizing…

Q: The standard costs and actual costs for factory overhead for the manufacture of 2,600 units of…

A: Variable factory overheads are those which are incurred on the making of the goods. These overheads…

Q: Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star…

A: CONSILITATION FINANCIAL STATMENT  Financial statements of a business having numerous divisions or…

Q: In the procurement structures, the Head of Procurement Entity and the Entity Tender Committee play a…

A: (1) The head of entity shall ensure that provisions of this Act are complied with (2) The concurrent…

Q: Explain how accounting frameworks and regulation influence accounting and financial arrangements.

A: Accounting frameworks and regulations play a major role in influencing accounting and financial…

Q: Net Present Value Method The following data are accumulated by Geddes Company in evaluating the…

A: Time Value of Money :— According to this concept, value of money in present day is greater than the…

Q: Current Attempt in Progress Oriole Hollow Resort has ordered 21 rotomolded kayaks from Current…

A: Manufacturing overhead = Direct Labor ×150%

Q: On January 1, 2019, Cranky Company issued 100, 5% stated. rate $1,000 bonds dated January 1, 2019,…

A: Bond valuation is a method for figuring out an individual bond's hypothetical fair value. Bond…

Q: Problem #4 The balance sheets of Kevin's Deliziosi Pasta Mfg., Inc. as of at December 31, 2021 and…

A: Statement of Cash flows (Indirect Method) for the year ended December 31, 2022…

Q: Excel Berhad manufactures one product line – the Nexus. Sales of Nexus over the next few months are…

A: A cash budget is an estimate of a corporation's cash flows for a given time span. A cash budget is…

Q: Hyrkas Corporation's most recent balance sheet and income statement appear below:   Balance Sheet…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…