But what's the distinction among accounting and management

Q: Materials used, P326,000. Total manufacturing costs charged to production during the year (including…

A: Hi student Since there are multiple questions, we will answer only first question. Cost accounting…

Q: The company's total shareholders' equity as of 12/31/2020 is $1,777,000 Common stock; par value of…

A: Multi-step income statement approach is an approach that categorizes the income and expenses as…

Q: Engineering Economics: Clin Corporation has an overhead crane that has an estimated remaining life…

A: The investment alternative will be choose which gives less present value of cost.  Here in given…

Q: Chapter 22 At the beginning of the 2019 school year, Bob Logan decided to prepare a cash budget for…

A: The cash budget represents the flow of cash that takes place during a specific period of time. It is…

Q: Prepare an income statement for the year ended December 31, 2021

A: Given in the question: Number of units sold during the year = 50,000 Selling Price Per Unit = Php…

Q: this is the old way using income summary, i need the new way.

A: Closing Entries - Closing entries are required to close the temporary accounts after making…

Q: required: The residual income for the AB Division last year was The return on investment last year…

A: Residual income is the remaining income after meeting all the costs that business owes. Formula:…

Q: Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the…

A: Cost accounting is one of the important branch of accounting. Under this, various type of costs are…

Q: What would be incorrect about reporting accounts receivable in the balance sheet? Presenting…

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: Reporting Bad Debt Expense and Accounts Receivable At the end of the prior year, Durney's Outdoor…

A: A T-accpunt is a log or list of accounts that keep track of account transfers.

Q: P 5-1 Consolidated income and retained earnings (upstream sales, noncontrolling interest) Pam…

A: Income statement is the statement showing expenses and revenues and where the former is reduced…

Q: Acquiring Corp. is considering a takeover of Takeover Target Inc. Acquiring has 10 million shares…

A: The term takeover refers to when an organization acquires another organization. The company…

Q: The Cable TV Co., an accrual basis taxpayer, allows its customers to pay by the month ($10 each…

A: Lets understand the basics. In accruals basis, revenue is recorded when earned and not when it is…

Q: net share in the profit of the associate would b

A: The Carrying value of the Investment account on Dec 31,20X1 is : The acquisition Amount : P70,00,000…

Q: h of the following statements is inapplicable to qualified tuition programs? Up to $10,000 per year…

A: Qualified Tuition Programme : Its refers to the schedule 529 plan, which is established and…

Q: JFL is a CCPC company and has offered Gene the following stock option incentive as part of his…

A: Employee stock ownership plan also known as yes op or employees stock option plan is in scheme by…

Q: How much should be recognized as the carrying value of investment in Yellow- FVPL account at Jan 2,…

A: Carrying value of Investment in Yellow- FVTPL account at Jan 2, 20X3: 1,860,000

Q: 136. ABC Corp incurred the following R&D expenses in 20X1: Cost to complete a detailed formula on…

A: Research & Development- The term "research and development expenses" refers to the activities…

Q: On January 1, 2014, Heart Company signed an agreement to operate as a franchisee of Ace Company for…

A: Acquisition cost of franchise  = cash paid + Present value of future 4 annual payments discounted at…

Q: The taxpayer is a domestic corporation:                 Gross sales…

A: Taxable income of a domestic corporation is the income which has been computed when the either the…

Q: Comprehensive Problem Set   On July 1, Lula Plume created a new self-storage business, Safe…

A: Journal entries for company Safe storage company. No Date Account number Journal Debit ($) Credit…

Q: Calculate the finance cost recognized in the statement of comprehensive income for the year ended…

A: The lease is a written contract between the two parties. In the lease, one party rents its machinery…

Q: According to Anna, the value of an ABC share is P50.00 while according to Bob, it should be P50.10.…

A: Valuation of Share: The process of determining the worth of a company's shares is referred to as the…

Q: From the following data, you are required to calculate 1) p/v ratio 2) break even sale with the…

A: Marginal Costing - Marginal Costing is the method of computing operating profit by bifurcating…

Q: Journal entry A. On November 5, Juniper receives advance cash payment from a customer for…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Cove’s Cakes is a local bakery. Price and cost information follows:           Price per cake…

A: Variable costs are costs which changes with change in activity level. Contribution margin is sales…

Q: Wally Bee purchased a new home for $500,000 with a $80,000 down payment. He financed the remainder…

A: Interest is generally calculated on unpaid loan  amount. In this question person W paid a sum of…

Q: The composite life (in years) for these assets is

A: cost - depreciation machine A = 260000-20000=240000 depreciation = 240000/12=20000 machine B =…

Q: ip to question   [The following information applies to the questions displayed below.]…

A: Master Budget: It is the summary of all the budgets i.e. sales budget, production budget,…

Q: Lipovetsky Corp. has the following data relating to accounts receivable at the end of the current…

A: The net realizable value for accounts receivable is calculated as gross account receivables minus…

Q: On June 1, 20x10, HEAD and ACHE decided to form a partnership contributing their existing…

A: Adjusted capital balance of a partner at the time of beginning the partnership business will be…

Q: ft:0:40:48 Elizabeth receives a yearly salary of $59,800. She is paid weekly, and her regular…

A: Salary paid on hourly rate and total salary calculation based on total work hours. Overtime Salary…

Q: 159. ABC Corp acquired a trademark with fair value of P116,000 in exchange for its own 14,000…

A: Trademark is one of the intangible asset of the business. When a specific sign or mark is obtained…

Q: GAS" Company does not segregate sales and sales taxes at the time of sale. The sales register total…

A: Sales and Sales tax both are different, sales is a part of revenue whereas Sales tax is a part of…

Q: Journalize the following transactions for the buyer, Jones Company, using the net method to account…

A: Journal entries are the basic method for recording financial transactions in the books of accounts.…

Q: 7 Bought motor vehicle by cheque for RM4,300 11 Sold goods to Karas Sdn Bhd on credit for RM380

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: How much is the carrying value of the  Investment in associate-Yellow  at Dec 31, 20X2? 2,372,000…

A: The ABC company has acquired 20% interest or shares of the Yellow company as on January 2, 20X1. ABC…

Q: Design a salary slip for the month of December 2021 with information given below. Fixed vs variable…

A: A salary slip, often known as a payslip, is a periodic document delivered by a business to its…

Q: In order to generate interim financial reports that contain a reasonable portion of annual expenses,…

A: a. an allocation of a portion of an annual bonus would be made as an interim adjustment

Q: The cost of an item of property, plant and equipment includes all of the following, except Purchase…

A:

Q: Use the following information to prepare adjusting entries: a.Prepaid insurance of $400 expired…

A: Adjusting entries are those which are recorded at the end of the period to adjust the prepayments…

Q: On January 1, 2014, Heart Company signed an agreement to operate as a franchisee of Ace Company for…

A: Cost of acquisition of franchise is present value of all payment made for franchise.

Q: Question 1 Bentley Company has 100 units of Item #222 and 50 units of Item #248 on hand at the end…

A: Using Lower of cost or net realizable value, the ending is valued at lower of the cost or market…

Q: The summarized trial balance of XYZ Corporation includes the following accounts on December 31,2022:…

A: Statement of financial position is one of the important financial statement being prepared by the…

Q: Prepare the journal entries to record the following transactions, in the books of Holman Dress…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: The following transactions occurred during the year ended December 31, 2016, for the Microchip…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period. The…

Q: 14% term note, due 2017 11% term note, due 2019 30,000.00 1,070,000.00 8% note, due in 11 equal…

A: Current Liabilities are the amount which is due for payment within a pwriod period of one year or in…

Q: Journalize the following transactions for the buyer, Martin Company, using the net method to account…

A: Purchase discount is the discount which is allowed on purchases made during the period. Credit terms…

Q: E4-19 (Algo) Reporting a Correct Income Statement with Earnings per Share to Include the Effects of…

A: Total asset turnover ratio=Total revenueAverage assets

Q: Which of the following is not considered as a characteristic of a liability?

A: a liability means a present obligation arises from past events and results in an outflow of…