company has accounts payable of P5,000,000 with terms of 2% discount within 15 days, net 30 days (2/15, net

Q: How can the company, which is a profitable one, have insufficient cash flows? Explain your answer.

A: Quickclick Media Ltd. announces that their profits in the current year have increased over the previ...

Q: Compute for the capital gains tax.

A: Capital gains tax rate in the country which is Philippines is the 6% which is charged on the shares ...

Q: Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and...

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

Q: Problem 4-2 – Current and non-current liabilities Grill Company is selling audio and video appliance...

A: Current and non-current liabilities of a company refers to short term and long term obligations of t...

Q: 1. On May 1, 2020, Dale Company issued a 10% share On January 1, 2020, Jam Company reported as long-...

A: Associate company is a business organization which is having influence over the company more than 10...

Q: 2022 Formula One World Championship pre-season testing session just started and due to the porpoisin...

A: WORKING FOR CALCULATION OF GOODWILL     PARTICULARS   AMOUNT (In Php) PURCHASE CONSIDERATION   P...

Q: Neelopak Berhad prepared the standard cost data for one of their products. Direct Labour (0.65 hour...

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

Q: needs help defining the costs for his business. Frank also wants to know which costs are relevant or...

A: Relevant cost: relevant cost is the cost which is relevant for decision making, it is relevant to de...

Q: The balance in ABC Company's accounts payable account at December 31, 2021, was P900,000, before any...

A:  Accounts Payable: Accounting for accounts payable (AP) is the collection of money owed to vendors a...

Q: Bain Corporation makes and sells state-of-the-art electronics products. One of its segments produces...

A: Contribution = sales - Variable cost Profit = Contribution - Fixed cost Total cost = Number of units...

Q: Cadila suctions issues $1,000,000 face value, 6%, 5 year bonds payable on December 31, 2018. The int...

A: Journal entries are the basic accounting steps where transactions are recorded in the corresponding ...

Q: An electronic game listed at $103.00 less 30%, 7%, 5% is offered at a further reduced price of S58.6...

A: Formula: Additional discount amount = Net price - Offered price

Q: On January 1, 2020, Jam Company reported as investmonts the following unquoted equity shares: long t...

A: Journal entry refers to the process of recording business transactions for the first time in the boo...

Q: Answer each independent question, (a) through (e), below. a. Project A costs $5,000 and will genera...

A: * As per Bartleby guideline, if question contains multiple question then answer first three only.   ...

Q: Identify five advantages and five disadvantages of corporations

A: Corporation:- A corporation is a business that the government recognizes as a separate legal entity ...

Q: Koda electronics has the details of one of its product "X" with annual fixed cost of P150,000. Its s...

A: Annual fixed cost=P150,000 Selling price per unit=P30 Variable cost=P15 Contribution per unit = Sell...

Q: Question 18, P1-10 (book/static) Part 1 of 2 Interest versus dividend expense Derwent Ltd., has anno...

A: Earning before tax = EBIT - interest expense

Q: Riverbed Corp. uses the direct method to prepare its statement of cash flows. Riverbed trial balance...

A: The cash flow statement, also known as the statement of cash flows, helps creditors determine how mu...

Q: Deja Brew Company reported the following for the most recently completed fiscal ye Work-in-Process I...

A: COGS termed Cost of goods sold means the costs which is related directly to the producing goods that...

Q: Question 6, P1-1 (book/static) Part 1 of 3 Liability comparisons John Bailey invested $50,000 in The...

A: Sole proprietors have unlimited personal liability. Means creditors of business can claim against bu...

Q: Problem 4-4 Audit of warranty and premium payable Taylor’s Version Co. carries a wide variety of mus...

A: Solution Warranty expense is that cost that a business expects to or has already incurred for the re...

Q: Bonita Clothiers is a small company that manufactures tall-men's suits. The company has used a stand...

A:

Q: Sayers Company purchased a building for $250,000 on January 2, 2019. The building has an expected re...

A: As per the guide lines we can solve 3 part (first three) of the question . answer for remaining ques...

Q: Relax Spa Company is engaged in providing facial and body treatment in a spa centre. Customers  are ...

A: The income statement explains the financial performance of the company for a particular period of ti...

Q: 455,000 32 during the vear?

A: As per the accounting equation Total Asset= Total Liabilities + Owners Capital Owners Capital is the...

Q: 1. On December 31, 2021, Sampaguita Company provided the following information: Accounts Payable, in...

A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle, whiche...

Q: Many governments budget on the cash basis. Explain why a government would budget on a cash basis rat...

A: The cash basis is a major accounting method that recognizes revenues and expenses at the time cash i...

Q: Required a. Determine the avoidable cost per unit of making the bike frames, assuming that Sturdy is...

A: Avoidable cost refers to those cost of the company which is eliminated or not incurred when a partic...

Q: Vulcra, Inc., has a semimonthly payroll of $67,960 on September 15, 20--. The total payroll is taxab...

A: FICA Taxes Payable-OASDI rate = 6.2% FICA Taxes Payable-HI rate = 1.45% FUTA rate = 0.6% SUTA rate =...

Q: The Philippines debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16...

A: solution Amortisation is an accounting technique used to periodically lower the book value of a loan...

Q: Precision Camera Services started the year with total assets of $120,000 and total liabilities of $4...

A: Stockholders' equity, also spelled shareholders' or shareholders' equity, is the amount of assets pa...

Q: Russia Company provided the following information on December 31, 2021: Jan. 15, 2022 - P3,000,000 o...

A:

Q: .. Comparative balance sheet accounts of Blue Inc. are presented below

A: In this question, we have to make a cash flow by direct method and by the indirect method  Cash flow...

Q: The partnership of Chase and Chloe shares profits and losses in a 70:30 ratio respectively after Chl...

A: Remaining income allocation = Total income - Salaries

Q: P21-12. Please solve part e,f,g and show all workings clearly.

A: Partial Balance Sheet- A partial balance sheet is a fiscal tool that is used to visualize the list o...

Q: At the start of the current year, Violet Company held 30% of ABC Company’s 150,000 outstanding share...

A:                     From  ABC Company DEF Company No of share held by Violet  45,000 10,000 ...

Q: On January 2, 2022, Promenade Company purchased 25% of Twilight Company’s ordinary shares; no goodwi...

A: Under equity method, investment made in an associate is initially carried at cost. At the end of the...

Q: Lucus Laboratories' last dividend was $1.50. Its current equilibriuem st- expected to grow at a cons...

A: The dividend yield is a kind of financial ratio that tells about the shares price percentage of a co...

Q: Sparkling Beverages makes one of its products by way of three separate stages. Details of production...

A: Process accounting means a method where raw material is added in different process and output of one...

Q: Nolan Walker decided to buy a used snowmobile since his credit union was offering such low interest ...

A: Here in this question, we are required to calculate ordinary interest. Ordinary interest is an inter...

Q: verage corporate tax rates Ordinary income in 2017 was taxed subject to the rates shown in the accom...

A: Total tax liability = Base tax + Marginal tax Marginal tax = Marginal rate * amount over bracket low...

Q: Use the data in Exhibit 14.5 On October 7, Schmidt Machinery Company purchased 720 pounds of PVC at ...

A: journal entry under cost accounting integrated set where both financial and cost systems are recorde...

Q: Quiche & Tell, Inc., is a catering business. Direct labor costs are $15 per hour and overhead is all...

A: Total cost is the amount of cost which comprises direct material, direct labor and overheads. Given ...

Q: a. Identify the type of lease involved and give reasons for your classification. Discuss the account...

A: The type of lease involved is an operating lease because the asset is not a specialised asset and th...

Q: The analyst can obtain a better picture of the operating performance of an entity if percentage of c...

A: The statement which is used to see the percentage change in one item in relation to other related it...

Q: Hemingway Corporation is considering expanding its operations to boost its income, but before making...

A: Tax liability can be calculated as earning before tax multiplied by the tax rate.  Debt financing re...

Q: P21.8 (LO 2, 4) (Lessee Computations and Entries, Lease with Guaranteed Residual Value) Assume the s...

A: Solution Lease is an agreement between a property owner and another party who wants to use their ass...

Q: In connection with your audit of the financial statements of the Pin Shop Company for the year 2020,...

A: When the investment in stocks is held for trading purposes then the value of the investment is adjus...

Q: Illustration 1. Measuring Goodwill/Gain on Bargain Purchase On January 1, 2021, Amahan Co. acquired ...

A: Goodwill is an intangible asset that is associated with the purchase of one company by another. Spec...

Q: Remy opened her Tours4Fun business. During the first month, January, she completed the following tra...

A: Pencil footing the ledger means the total balance of both side of ledger. After pencil footing balan...