Define annual report

Q: What is the balance of the Retained Earnings- Appropriated at December 31,2019?

A: Computation of net profit Net profit before tax 1500000 Add: Excess in depreciation expense…

Q: Define Total comprehensive income

A: Comprehensive income includes both net income and unrealized income or losses on financial…

Q: Requirements: Comprehensive income and financial position.

A: Financial statements are those statements and reports which are prepared at the end of accounting…

Q: Define Long-Term Notes.

A: Liability: It is the sum of money owed by the company to external entities.

Q: balance: How m 2020 statement Accounts Payal

A: As per the items of above Trial Balance we can catagories…

Q: Prepare a single step income statement for 2019

A: Income is said to be excess of sales revenue over all the expenses during the current year.

Q: Determine the consolidated expenses to be reported for the year.

A: Consolidated expenses are those expenses which has been incurred by the company which has been…

Q: What items are typically submitted as part of the budget or annual plan?  Marketing plan  Capital…

A: Types of Budget: Sales budget Purchase budget Production budget Cash budget Operational budget

Q: Define: 1.Budgeted Statement of Retained Earnings 2. Budgeted Balance Sheet

A: Budgets are the estimates that are made for future. Budgets help in forecasting future income and…

Q: What is the importance of annual reports?

A: Introduction: An annual report is a document that public corporations are required to present to…

Q: ERISA (Pension Reform Act of 1974) provides guidance for actual return on plan assets minimum…

A: ERISA (Employee retirement security act) was enacted with a view to protect the interests of…

Q: Requirement: a. What is the investor's share in the profit of the associate for 2020 and 2021? b.…

A: Step 1 Investment in associate when investment in another entity holding its equity from 20% to 50%.

Q: make a comparative analysis (between year 2019 and 2020) and find current ratio, acid test ratio and…

A: The current ratio refers to how many current assets are available to cover the current liabilities…

Q: interpret or compare its results from 2018 to 2019

A: Current ratio means the ability of the company to repay the current liabilities of the company with…

Q: REQUIRED: Prepare full (absorption) and variable income statements for the year 2019 and 2020.

A: 2019 2020 Sales  160,000 275,000 Less: Variable expenses      Direct material 50,000 60,000…

Q: What is interim reporting period? Describe about it.

A: Interim financial statements are defined as a financial report containing either a complete set of…

Q: How much should be reported as Administrative expense for 2020?

A:

Q: Determine the return on total assets. If required, round the percentage to one decimal place.

A: Return on total assets:   Return on total assets is an indicator on how well a company’s investments…

Q: How would each of the following items be reported on the balance sheet?     Item   Reported on…

A: “Since you have asked multiple sub-parts, we will solve the first three sub-parts for you.  If you…

Q: What's annual report

A: An annual report is a comprehensive report on a company's activities throughout the…

Q: ------------as defined by the GASB is based on the fiscal period that benefits from a particular…

A: Classification by character as defined by the GASB is based on the fiscal period that benefits from…

Q: How can we determine the interest rate of a company from the annual report ? provide examples

A: Interest Expenses It is important for the business entity to calculate the interest cost which are…

Q: a. What amount of income should be reported for the current year if the percentage of completion…

A: Formula: Revenue Recognized=  Cost Incurred to DateEstimated Total Cost×Contract Price-Revenue…

Q: What amount should be recorded as investment income e the current year?

A: Step 1 Investment income is money that someone earns from an increase in the value of investments.…

Q: corrected multi-step Income statement.

A: 1. Accounts receivable is a current assets and a Balance Sheet item. 2. Unearned sales is a current…

Q: How do we report components of comprehensive income created during the reporting period?

A: Comprehensive income: Comprehensive income refers to the amount of net income plus other…

Q: n

A: Interim financial report This is the financial report prepared by a company. The minimum period to…

Q: Calculate the current ratio for Pearson & Litt for 2019 and Explain the results of the current-test…

A: Current ratio is a measure that gives information about the capability of a firm to meet it's…

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A: Segmental information is the way of providing the overall information about the functioning and…

Q: Define annual vesting

A: Vesting is usually referred as the retirement benefit plans which have rights over the employee…

Q: Define the term fiscal year.

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Prepare the statement of comprehensive income for 2019.

A: Income Statement used to report a company's financial statement during the accounting period and…

Q: Required: 1. Prepare all appropriate journal entries related to the investment during 2021. 2.…

A: Step 1 An Associate is a company in which an investor can exercise significant influence i.e. 20% to…

Q: What amount will be presented on the balance sheet for fiscal 2020?

A: The present scenario is defined under Define Benefit Plans of Post employment Benefits para in IAS…

Q: Make a list of important and relevant accounts. financial and economic statements and cycle of…

A: The assertion made by the management team: To claim the veracity of a financial statement, the…

Q: Name four items that would ot apper in the projected income statement

A: The projected income statement depicts earnings and expenditures for a certain future time, such as…

Q: Prepare Projected Balance Sheet

A: Projected Income Statement for 2021         Particulars   Working   Amount   Sales…

Q: How much is the investment balance on December 31?

A: On January 1, Parent company acquired subsidiary = 90% Purchase consideration = 5400 shares @ P10…

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A:

Q: t 2021 in context

A: Union Budget 2021 was presented in Parliament on Monday, February 1st, 2021. Presenting the primary…

Q: Compute the gross income for 2019 assuming a FIFO.

A:

Q: How to make an annual report through measures of position?

A: Annual report is defined as the comprehensive report on the activities of the company in the…

Q: Required Provide the necessary journal entries to correct BSW's accounts in 2019 and 2020

A: In 2019, there is the requirement to put one journal entry to record promissory note which BSW has…

Q: a. If this budget is formally integrated into the accounting records, what journal entry is required…

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: Prepare the balance sheet for 2019

A: The accounting cycle has eight steps starting from identification of transactions, recording them in…

Q: Calculate the retained income for the year.

A: Retained earnings refer to the amount held by the company from profit after paying dividends to the…