BRIEFLY A
Q: Gall Corporation paid dividends of P500,000 and P1,600,000 at the end of 2021 and 2022, respectively...
A: Preference dividend=Number of shares×Par value×12%=50,000×P 100×12%=P 600,000
Q: How can accounting keep up with the rising sales return rates, especially when it comes to inventory...
A: Management of inventories: Inventory management may be characterized as a system for measuring and r...
Q: please quickly i just need answer thanks! 9 When a gain is realized in an exchange between equip...
A: When a gain is realized in an exchange between equipment (Cash is given as a boot), Gain on the exch...
Q: The Vinta Company estimates its factory overhead for the next period at P2,500,000. It is estimated ...
A: Predetermined overhead rate = Estimated overhead cost / Direct material cost
Q: Lilac Company has 200,000 shares of ordinary shares outstanding on January 1, 2021. On March 31, 202...
A: Solution Given Ordinary share outstanding on January 1 2021 200,000 Additional share issue...
Q: What is the straight-line amortization technique for a bond discount or premium?
A: Bond with a straight-line amortization schedule The straight-line amortization technique is a way of...
Q: 1. Journalise all the transactions. 2. Prepare an unadjusted trail balance using the spreads...
A: When assets and expenses increase, they are debited, and when decrease they are credited. When liabi...
Q: On March 20, 2020, Fine Touch Corporation purchased two machines at auction for a combined total cos...
A: Workings: Fair value of Machine X 106,650 Fair value of Machine Y 130,350 Total ...
Q: Q#1 What is Hypothetical Future value? plz watch a enron vedio enron the smartest guy in the roo...
A: Hypothetical Future Value means the worth of future amount of money at specific point in time . If o...
Q: amount to be assigned to the share warrants
A: Share warrants are the options given to the shareholders of a company to buy its ordinary shares at ...
Q: Mike Gioulis would like to have $22,000 in 3 years to pay off a balloon payment on his business mort...
A: Mike must put money in his account = $ 20,828 EXPLANATION:- Target amount(A) = $ 22,000...
Q: YOO-YOO Company purchased 200 of the 1000 outstanding shares of WEBUL Company's common stock for $71...
A: Fair value method of accounting Under fair value through net income, it measures investment at FV o...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: No. of treasury shares after split = treasury shares x 5/1 = 50000 x 5/1 = 250,000 shares
Q: Cory Company issued 120,000 shares of its P10 par ordinary to Fuzzy Inc. in lieu of a real estate pr...
A: Share Premium account will be credited with the difference between par value of share and issue pric...
Q: On October 31, 2022, ABC Inc. declared a building held as owner-occupied property with an original l...
A: Date Accounts Debit Credit October 31, 2022 Retained earnings P900,000 Property divid...
Q: Abeer is a financial manager of a company contemplating two projects and its initial investment for ...
A: Payback period is the period (in number of years) in which the initial investment in a project will ...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio ...
Q: Activity #5: Classify The following transactions pertain to the operations of Happy Events, an event...
A: Cash Flow Statement includes: Cash flow from operating activities Cash flow from Investing activiti...
Q: would protect you against the hazards listed below? To hide the theft of further cash payments from ...
A: Internal Controls Internal control refers to all of management's policies and processes for achievi...
Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the upc...
A: 1a) JESSI CORPORATION ...
Q: Gall Corporation paid dividends of P500,000 and P1,600,000 at the end of 2021 and 2022, respectively...
A: Calculation of dividend payble to preference shareholders >> (50,000 *100*12%) = 600,000 But ...
Q: Assume the following information for a company that produced 10,000 units and sold 9,000 units durin...
A: Fixed manufacturing overhead absorption rate = Fixed manufacturing overheadNumber of units produced ...
Q: what are some general management accounting issues?
A: Accounting is the language of business. It the art of recording the business transactions and presen...
Q: How much unearned revenue would be recorded in 2017 related to the above transactions? A. $30...
A: Answer are as follows
Q: 19. On January 5, 2020, Alpha Company acquired 100% of the shares of Beta Company for an amount whic...
A: Purchase Consideration = P300,000 + Book value of interest acquired ( book value of net identifiable...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio ...
Q: What would be the impact on the targeted overhead rate if the firm decides to boost marketing expens...
A: Introduction: Absorption costing, sometimes known as full costing, is a method of calculating produc...
Q: Lilac Company has 200,000 shares of ordinary shares outstanding on January 1, 2021. On March 31, 202...
A: Solution Given Ordinary share outstanding on January 1 2021 200,000 Additional share issue...
Q: Liquidity Status Current Ratios Quick Asset Ratios Efficiency Status Asset Tur...
A: 1. Current ratio = Current assets/ Current liabilities 2. Quick ratio = (Current assets - Inventory ...
Q: Assume that your company purchases inventories from a supplier on December 15. The invoice specifies...
A: Accounts payable 15th December=10,000 Euros×$1.35=$13,500
Q: 4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО d...
A: 4. Using the four-variance approach, the volume variance is Volume Variance = Bu...
Q: On December 31, 2024, Denis and Gamber agree to combine their sole proprietorships into a partnershi...
A: A journal entry is a record of a commercial transaction in organization's accounting system. When a...
Q: The following events took place for Sorensen Manufacturing Company during January, the first month o...
A: Format:- Income statement Sales Less:- Cost of goods sold Gross profit Selling and admi...
Q: The XL Co. issued 5,000 shares of P50 par preference shares 1,000 detachable warrants at P400,000. T...
A: Solution Concept The detachable warrant can be valued separately . If the fair market ...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: No. of treasury shares after split = treasury shares x 5/1 = 50000 x 5/1 = 250,000 shares
Q: All the listed benefits paid by an employer are required to be included in an employee's income for ...
A: Taxable benefits: These includes all the benefits that are received by an employee from his employer...
Q: In a make or buy decision, the relevant costs include variable manufacturing costs as well as A. De...
A: The only costs that are relevant in a make or buy decision are those which are affected by the decis...
Q: At 1 January 2020, the revaluation surplus of Bloxden was P1,257,000. This was in respect of the com...
A: Formula: Revaluation surplus at 31 December 2020 = Beginning Revaluation surplus + Additional incre...
Q: The O'Hara, Peters, and Lillis partnership balance sheet reports capital of $60,000 for O'Hara, $110...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: Cherokee Company began operations when it issued common stock for $96,500 cash. It paid contract to ...
A: Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts...
Q: Mr. Tuck and Ms. Under organized a new business as an LLC in which they own equal interests. The new...
A: The question is related to taxation. Since there is a loss of $7200 and the tax rate applicable to M...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: No. of treasury shares after split = treasury shares x 5/1 = 50000 x 5/1 = 250,000 shares
Q: Is there any financial or operational data that appears on both the income statement and the retaine...
A: Profit and loss statement: To generate an income statement for a period, costs are debited, and reve...
Q: When is the filing deadline for an individual taxpayer who has no partnership or sole proprietor bus...
A: When is the filing deadline for an individual taxpayer who has no partnership ...
Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of...
A: SOLUTION- THE COMPANY HAS ISSUED A 1:5 RIGHT ISSUE TO SHAREHOLDERS FOR P25.
Q: Which of the following statements is not true? * O JIT manufacturing uses manufacturing cells. O JIT...
A: Just in time manufacturing :- It is methodology which involves producing the necessary goods in nece...
Q: SmaGlo, Inc., a telecommunications operator, entered into a contract with Kim Dorothy on March 1,20x...
A: The transaction price is the consideration paid by the customer for receiving a good or service. Kim...
Q: true or false The going-concern assumption means that the business owner and the company are separa...
A: Going-concern assumption is that business will remain in operation for the foreseeable future .
Q: The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty identif...
A:
Q: Is the cost of sales under weighted average always greater than the cost of sales in FIFO?
A: as FIFO method of inventory valuation goods purchased first will be used first or sold first. The Fi...
BRIEFLY ASSESS HOW
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- how to decide and choose between investments if capital is rationed? Assess the timing effect of taxation liabilities upon investment appraisal decisions.Can the net cash flows be viewed as before-tax values or aftertax values for which tax effects have been recalculated?Calculate: Tax management efficiency Expense control efficiency Asset management efficiency
- What is taxation?Explain why it is important to distinguish between capital expenditure and revenue expenditure, and briefly explain the accounting treatment of each type of expenditure.REQUIRED: ANSWER THE FOLLOWING QUESTIONS IN POINT FORM • What is the difference between book value and market value? Which should we use for decision making purposes? • What is the difference between accounting income and cash flow? • What is the difference between average and marginal tax rates? • How do we determine a firm’s cash flows? • What is CCA? How is it calculated?
