Calculate the missing figure using the basic accounting equation: Bank 7000 Capital 5000 Payables 11000 Furniture and fittings

Q: A company issues P20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid o...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: Is it true or false that corporations muse issue common stock, but may or may not decide to issue pr...

A: Steve Osbourne- Opening a business Massive profit during 1st year  and following year relatively pro...

Q: As regards capitalist partners, the prohibition may extend to operation which is of

A: A capitalist partner is one who contributes money or property to the capital of the company.    

Q: Decaprio Inc. produces and sells a single product. The company has provided its contribution format ...

A: Contribution Format - This income statement begins with Sales. Then all the variable expense needs t...

Q: Calculate the missing figure using the basic accounting equation Petty Cash Cash at bank 500 Capital...

A: This question deals with the balance sheet equation. As per balance sheet equation, asset is always ...

Q: 4. Using your present and future value tables, calculate the following: a. Compute the amount that a...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: ry 1, 2016, Truffle Corp. issued 9% bonds in the face amount of P 5,000,000, which maature on Janaur...

A: Solution: Under interest method of bond amortization, Discount amortized is difference between cash ...

Q: Equivalent Units of Production The following information concerns production in the Baking Departme...

A:

Q: Required: (a)Compute prime cost, manufacturing cost and cost of goods manufactured. (b)Compute cost ...

A: Prime Cost= Direct Material Cost+ Direct labor Cost Manufacturing Cost= Prime Cost +Manufacturing Ov...

Q: n January 10, 20X2, a promissory note was signed with the principal of One hundred forty-five thousa...

A: In Banker rule we calculate the number of years as 360 days and find out the actual number of days a...

Q: On Janaury 1, 2021, Eastern Corp. received P 1,077,200 for P 1,000,000 face amount 12% bonds. The bo...

A: Interest expense refers to the cost or expense which is incurred through the entity for the borrowed...

Q: 5. This is a class of asset that are not essentials in the on going operations of the business. A. F...

A: A valuable resource that a person, company, or country owns or controls with the purpose of profitin...

Q: Claremont Company sells refurbished coplers. During the month, the company sold 175 coplers at an av...

A: The budgeted sales can be calculated by multiplying expected sales by the average price per copy.

Q: n 2021, Ehrlich Corporation reported net income of $700,000. It declared and paid preferred stock di...

A: Solution: Earnings per share is the monetary value of earnings per outstanding share of common stock...

Q: The following powers are classified as primary powers of the Commissioner of the BIR. Which of these...

A: The Bureau of internal revenue is considered to be an agency of department of finance. The Bureau of...

Q: Required information [The following information applies to the questions displayed below.] In 2021, ...

A: Answer:-  Earned income credit :- Earned income credit basically helps the low to moderate income pe...

Q: The Priceline Group Inc. (PCLN) is a leading provider of online travel reservation services, includi...

A: Free Cash Flow: Generally speaking, free cash flow (FCF) is the cash that a firm earns after deducti...

Q: leased are payable at the end of each year, beginning December 31 cost was P800,000. The implicit ra...

A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get...

Q: Which of the following are desirable characteristics in a personal representative? He or she should...

A: A personal representative or legal personal representative is the agent or head for the estate of an...

Q: GGG Company Assume that the firm is expecting to have the following quarterly unit sales with a pric...

A:

Q: D. $1,080,000. PROBLEM 4 The following is Unknown Corporation's contribution format income statement...

A: The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are allow...

Q: Angie March owns a catering company that stages banquets and parties for both individuals and compan...

A: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units - ...

Q: In retail we are always adjusting our operations to ensure financial goals are met. Aside from adjus...

A: Adjusting entries are prepared at the end of the period to make adjustments to the balances of the a...

Q: On January 1, 2020, Junibond issued 5-year 10%, P10,000,000 for P10,246,744. Interest and principal ...

A: Amount of Annual installments = Issue value of the bonds / Present value factor at yield rate Carryi...

Q: Which of the following statements is most correct? Select one: A. A company with a current ratio of ...

A: Solution: Current ratio is the liquidity ratio that reflects relation between current assets and cur...

Q: Steve Osbourne is considering opening a business, but the major decision faced is how to organize th...

A: Ans. The term “no mutual agency” is a characteristic of a corporation. There is separate legal statu...

Q: Current Attempt in Progress Concord Manufacturing owns equipment that cost C66400 when purchased on ...

A: Journal entries should not be used to record routine transactions such as customer billings or suppl...

Q: Multiple Cholce $415,000. $56,814. $204,636. $210,364. $153,550.

A: Solution..     Fixed cost = $153,550  Contribution margin ratio = 37%  Break even sales revenue = ? 

Q: Wells Leasing Company signs an agreement on January 1, 2020, to lease equipment to Manchester Compan...

A: The question is related to Accounting for Lease. The Present value of lease rent from standpoint vie...

Q: Oriole Company purchased equipment that cost $2595000 on January 1, 2020. The entire cost was record...

A: Net Income is the amount of income that is calculated after deducting all indirect expenses and addi...

Q: to the individual or company that 3. A security is issues it. to the person who buys it, but A) asse...

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: From the following information, calculate Operating ratios and operating profit ratio and net profit...

A: Operating expenses = Administrative expense + Sales expense + Depreciation 2019 = 1,00,000 + 2,50,0...

Q: Three of the following are requisites of an obligation. Which is the exception? Efficient cause Pres...

A: The four essential elements of an obligation are: an Active Subject, a Passive Subject, The Prestati...

Q: Penny Pincher Discount Grocers has issued a bond with a coupon rate of 11%. It recently closed at a ...

A: Answer) Calculation of Current Yield Current Yield = Annual Coupon Payment/ Current Market Price Cur...

Q: Tony Corporation has a construction contract in progress as follows : Total contract price: $550 mil...

A: The question is related to the IFRS 15  "Revenue from Contracts with customers" or "Construction Con...

Q: Directions: Below are the accounts of Llamado Poultry Supply Store for the year ended June 30, 2020....

A: The question is related to the mutli step Income Statement for the year ended June 30, 2020. A multi...

Q: Colter Corporation has two shareholders: Arlen with 70 shares and Marcy with 30 shares. Colter has E...

A: Long term capital gain means gain arises on  capital nature investment or  assets which was hold for...

Q: A farmer bought a tractor costing 25,000.00 payable in 10 semi-annually payments, each installment...

A:

Q: 1. The Cost of Sales during the period is equal to 65% of net sales. This resulted to a gross profit...

A: Evert business requires assets and liabilities to prepare their Balance Sheet. They are the number v...

Q: In the case of conflict between the tax laws and generally accepted accounting standards (GAAP) for ...

A: GAAP refers to Generally Accepted Accounting Principles which were issued by the accounting standard...

Q: Suppose a citizen of the United States travels to Brazil for plastic surgery and then returns to the...

A: International Trade: When the supplier of service or goods and buyer or receiver of service or goods...

Q: otal assets 80,000 Current liabilitie

A: Summary Introduction: Operating segments refer to components of the firm. These segments have discr...

Q: On January 1, 2016, Saul Company issued convertible bonds with a face amount of P 5,000,000 for P 6,...

A: Loss on extinguishement of convertible bonds on December 31,2018  =  carrying amount as on date - fa...

Q: Associates bought a machine at the beginning of the year at a cost of $20,500. The estimated useful ...

A: 1.Double-declining-balance Straight-line depreciation rate = 100%/5 years = 20% Double-declining dep...

Q: 27. When a bank borrows money from the Central Bank (The Fed), this fund is called A) federal funds....

A: Central bank is the bank which regulates the other banks in the country and who issues the currency....

Q: The company is desirous of comparing several financial transactions and possible outcomes to assist ...

A: Journal entry - It refers to the process where the business transactions are recorded in the books o...

Q: Contribution margin divided by Income is the: Muftiple Chalce 11 Contribution margin ratio. Margin o...

A: contribution margin is calculated by = contribution /sales. This ratio help the companies to calcula...

Q: Super Pharma Company had the following transactions: 1. Issued capital stock for $935,000. 2. Purcha...

A: The T-accounts are prepared as posting of journal entries to the specific accounts. 

Q: Kingbird publishes a monthly sports magazine, Hockey Hits. Subscriptions to the magazine cost $22 pe...

A: Financial transactions are recorded via journal entries. You insert transaction information into you...

Q: hich of the following are characteristics of the unified tax system that are common to both testamen...

A: The UTC (Unified tax credit) provides the dollar amount which individual or person could gift during...

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.