Based on the article "Narratives on the Accounting Worldview of Practising Managers" by Pasi Aaltola & Marko Järvenpää the question is below: 1. Write about three accounting competence development areas that would be important for personally as a manager?

Q: A coal mine cost $1,006,000 and is estimated to hold 60,000 tons of coal. There is no residual…

A: The question is based on the concept of Depreciation Accounting.

Q: Target Corporation believed it could increase the company's profits by closing its stores in Canada.…

A: Activity‐based costing (ABC) is used to allocate overhead costs to jobs or functions. Activity‐based…

Q: A price of the new machine purchased by ABC company was P50,000 and expected to last for 14 years…

A: The sum-of-the-years'-digits technique is a streamlined approach to estimating the anticipated…

Q: alam Fresh who are specialising in the manufacture and supply of food products. Salam Fresh have…

A: Audit refers to the examination of the present situation of an organization irrespective of it's…

Q: Is issuing equity or debt preferable in the current business climate? Why?

A: debt are issued by the company in order to raise the capital it is considered to be the liability…

Q: The following data pertain to 2020 financial information of The Press Company. Direct materials and…

A:

Q: The cost of an asset is $1,150,000, and its residual value is $210,000. Estimated useful life of the…

A: There are a few advantages to employing the double declining balance technique of depreciation. One…

Q: You have GBP £1,000 and are considering two investment opportunities. Investment 1 pays interest at…

A: In the above case in investment - 1 interest rate is 11% compounded annually whereas investment 2…

Q: Oliver Company has acquired a used piece of equipment for $10,000 and paid transportation costs of…

A: When a PPE(Plant property and Equipment) is purchased, Its value is recorded at the cost which is…

Q: The difference between contribution margin and income from operations is ________. a. net income b.…

A: The contribution margin is the excess revenue over the value of variable cost and the operating…

Q: Angie Pereira and Ferro Schwartz are employees of Free Star, Inc. In February 2025, Angie's gross…

A: The correct answer is option - a credit to FICA- OASDI taxes payable for $1729.80

Q: Powell Company owns an 80% interest in Sauter, Inc. On January 1, 20X1, Sauter issued $400,000 of…

A: Calculation of  gain on retirement on the 20X5 consolidated income statement are as follows

Q: Required information Problem 1-24A (Algo) Service versus manufacturing companies LO 1-4 [The…

A: Depreciation is the reduction in the value of asset due to normal wear and tear Effluxion of time.…

Q: Why the requirement is a foundation of your enterprise content management system? Select one: O b.…

A: An effective enterprise content management system provides everyone in the organization with easy…

Q: During the fiscal year ended September 30, 2023, Worrell Incorporated had a 4-for-1 stock split and…

A: Earnings per share is the portion of a company's profits that is distributed to shareholders and…

Q: On January 1, 2020, Pharoah Company purchased $320,000, 6% bonds of Aguirre Co. for $294,044. The…

A: Working note: Computation of carrying value of the bond investment as on December 31, 2021:

Q: quest 1 Benson Limited is constructing a Power Plant which was completed on 31st December 2019. The…

A: Borrowing cost refers to the interest and other costs that is directly incurred for arrangement of…

Q: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year…

A: The term "completed contract method of revenue recognition" relates to an accounting approach that…

Q: Summer Company holds assets with a fair value of $126,000 and a book value of $95,000 and…

A: Consolidation is a process where one company acquires the anther company's stocks and becomes the…

Q: after paying commission if 7% of the sale price to his broker, tess receives 103,000 for his car.…

A: The amount that a customer pays to buy a product is called a selling Price. Selling Price after…

Q: ebt instruments mature on January 1, 2026 and pay interest annually beginning December 31, 2021. The…

A: Amortization cost  Amortized cost is the total amount of a fixed asset's reported cost that has been…

Q: 5. On January 1, 20x1, Kindness Co. issued 3-year, 10%, P2,000,000 convertible bonds for P2,200,000.…

A: A compound instrument is a financial instrument that carries the features of financial liability and…

Q: Question 7 EDP Enterprises sells mobile accessories for $120 per unit. It is noted that the firm's…

A: Contribution Margin Per Unit (CM Per Unit) :— It is the difference between selling price and…

Q: White Corporation's budget calls for the following sales for next year. Quarter 3 Quarter 4 65,600…

A: The budget is prepared to estimate the requirements for the future period. The production budget is…

Q: : If an individual whose filing status is single earns $256,000 during the year, what portion of the…

A: To contribute financially to Medicare, all employees, employers, and those who are self-employed are…

Q: 1SS 4. On January 1, 20x1, Patience Co. P2,000,000 convertible bonds at 105. Each P1,000 bond is…

A: A journal entry is used to record a commercial transaction in the accounting records of a…

Q: Required information Problem 1-24A (Algo) Service versus manufacturing companies LO 1-4 [The…

A: Income Statement :— It is one of the financial statement that shows profitability of company during…

Q: An asset is purchased for $80,000. Its estimated life is 30 years ,after which is sold for $5000.…

A: The sum of year digit method is the method of charging depreciation to an asset. It is an…

Q: Distinguish between internal documentation and external documentation as audit evidence and give…

A: Internal audit evidence are those evidence available within the organisation.  External audit…

Q: Kenos Pte Ltd manufactures all types of custom-made furniture. It uses a job-costing system and…

A: Predetermined Overhead Rate :— It is calculated by dividing total budgeted manufacturing overhead by…

Q: "In my opinion, we ought to stop making our own drums and accept that outside supplier's offer,"…

A: Making the decision to manufacture a product internally versus buying it from a third-party provider…

Q: he following events took place for Migliozzi Inc. during July, the first month of operations as a…

A: Business companies compile income statements to determine how much gross profit or net profit they…

Q: Required information The Foundational 15 (Static) [LO3-1, LO3-2, LO3-3, LO3-4] Skip to question…

A: The direct materials used is calculated as difference total raw material available for use and…

Q: Gemilang Bhd has share capital of RM1 million in shares of 25 sen each. At 31 May 2022 shares had a…

A: TERP =Right Issue Shares×Right Issue Price + Base Shares×Market PriceRight Shares + Base Shares

Q: Scenario:   Ralph Collins founded Collins Consignment Sales Company and the company was operated…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: Compute 2 years of the following ratios from the financial statements below: A. Profit margin…

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

Q: Pawn Corporation purchased 30 percent of Shop Company’s common stock on January 1, 20X5, by issuing…

A:

Q: Please provide the explanation of  part a and Part

A: Part a: Common stock=Number of issued shares×Par value of the stock=542 shares×$0.0375 per share=$20…

Q: Pizza Corporation purchased 100 percent of the common stock of Slice Corporation on January 1, 20X2,…

A: JOURNAL ENTRIES   Journal Entry is the Process of Recording all Financial & Non Financial…

Q: The opening balances on the Statement of Changes in Equity for Twatasha limited company as at 1…

A: STATEMENT OF SHAREHOLDERS EQUITY   The Statement of Stockholders Equity is the difference between…

Q: Activity-based costing does a better job of allocating both direct and indirect cost than…

A: Introduction: Direct costs are company expenses that you may use to directly produce a certain cost…

Q: Samberg Incorporated had the following transactions. a. October 1 - Sold $23,500 of merchandise on…

A: 2/10  n/30 means 2% discount will be given if payment is made within 10 days and final payment to be…

Q: Don Ho has the following sources of income and deductions: Net employment income   34,000 Property…

A: The money that a person or entity receives in exchange for providing an item or service, investing…

Q: The company presented the following adjustments, and you are to prepare the adjusting entries in the…

A: Adjusted journal entries will be passed at the end of accounting year or month to prepare final…

Q: 1) Calculate the closing capital from the above information: Drawings: $20 000 opening capital: $100…

A: Closing Capital = Opening Capital - Net Loss - Drawings

Q: e sale of inventory items by a parent company to an affiliated company a. enters the consolidated…

A: The parents company normally sends goods to affiliated company and but both sales and profit are…

Q: Why are financial statement users interested in the statement of cash flows? It provides information…

A: Statement of cash flows is a statement which provides the details about the entity's cash receipts…

Q: The Journal entry to update the accounts for rent expense recorded that has not expired is which of…

A: Rent that is not expired is a rent that has been paid for the next business period. Advance rent is…

Q: Garrett Company has the following transactions during the months of April and May:   Date…

A: FIFO METHOD :— Under this method, first inputs is used for the output units or sales units.  Cost of…

Q: The motivation of a parent company to purchase the outstanding bonds of a subsidiary could be to:…

A: Lets understand the basics. Parent company and subsidiary company generally enters into transaction…