Differentiate between a cost center and a profit center.

Q: The following data were made available: December 31, 20PY December 31, 20CY Total Assets P1, 000,000…

A: Net income Net income which is considered to be the important part in the financial statement of…

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A: Given a demand function P= 140-Q where Q= Q1+ Q2 MC=$ 20

Q: 3. Via Corp is to be liquidated. All creditors, both secured and unsecured, are owed P1,500,000.…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Question 35 How many of the following statements is/are FALSE? 1. An increase in revenue is on the…

A: The question is related to the Basic of Accounting.

Q: On January 1, 2022, Roxanne Company purchased equipment with cost of P10,000,000, useful life of 10…

A: Lets understand the basics. As per IAS 36 "Impairment of assets", impairment arise when recoverable…

Q: Due professional care applies to O The Sample selection. O Follows appropriate audit standards. O…

A: Audit: It implies to the detailed analysis and examination of the company's financial statements to…

Q: 64 Return on investment (ROI) is a term often used to express income earned on capital invested in a…

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Q: Under the going concern assumption: * an entity is viewed as not likely to continue in operation for…

A: Under going concern assumption, it is assumed that busines will be continued for a foreseeable…

Q: he runs a coffee shop which ness on 4 March 2019 the sam

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A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

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A: Child and dependent care credit: According to IRS, the person ( who incurred any expenses for the…

Q: shock in a flexible exchan

A: A movement along the aggregate demand curve, such as a change in monetary policy under flexible…

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: Economics i) How would 10% TL appreciation effect the current account balance of Turkey? Explain in…

A: The exchange rate fluctuations have significant influence on the Trade balance, and by extension, on…

Q: A plant asset acquired on October 1, 2022 at a cost of $1,008,000 has an estimated useful life of 10…

A: The question is based on the concept of Depreciation Accounting. Depreciation is the reduction in…

Q: Lina Company purchased equipment on January 1, 2022 for P5,000,000. The equipment had a useful life…

A: Given information, Cost of the equipment=P5,000,000 Residual value =P600,000     Computation of…

Q: Babuca Corporation has provided the following production and total cost data for two levels of…

A: Cost of manufacture is the amount of the product produced in the manufacturing unit that includes…

Q: On March 1 of the current year, Dexter Cormpany acquired a machine costing P 650,000 with an…

A: Solution..   Cost = P650,000  Salvage = P50,000  Life = 15 years  Annual depreciation expense  =…

Q: What is operating income using variable costing?   A) $52,500   B) $78,750   C) $65,750

A: The variable costing assumes only variable manufacturing costs in the product cost.  The…

Q: Caraco Corporation has provided the following production and average cost data for two levels of…

A: Fixed cost is the cost that doesn't change with the change in the output level. Fixed cost will…

Q: Sales unit volume 2,800 2,000 a. Prepare a contribution margin by product report. Compute the…

A: Contribution margin is computed by deducting the variable cost of sales from the sales value.the…

Q: Cash Note Recenable P 67,075 70,000 176,500 Accounts Receivable Allowance for Bad Debes 5,400…

A: Solution..   Net sales  = Sales - sales return - sales discount  = 572,875 - 11,000 - 6,400  =…

Q: The following are budgeted data: January February March 15,000 20,000 18,000 18,000 19,000 16,000…

A: This question requires us to calculate Budgeted Purchases of Raw Materials for February month, the…

Q: pees 6 lakh. He spent a total ng a family trip. He won a lot Dut of happiness he gifted his 50000.…

A: Mr B is the resident senior citizen [60+]of India .   For F.Y 20-21 & A.Y 21-22 , there are two…

Q: Statement of financial position as at 30 June 2021 Provision for depreciation Costs (RM) Net Book…

A: Realisation A/c   Dr.     Cr.     Particulars   Amount   Particulars   Amount   Freehold Land…

Q: balance at 3.80% compounded monthly. Mr. Harrington will make a payment of $7000 4 months from now…

A: Periodic Interest rate (i) is the rate of interest after considering the compounding periods. It is…

Q: Anthony has just won the Flyball Lottery. He has two options for receiving his prize. The first…

A: Present value is  the concept that states an amount of money today is worth more than that same…

Q: Problems 1. For the year ended December 31, 2017, Casey Company estimated its allowance for…

A: The uncollectible account expense for the year includes uncollectible provisions made during the…

Q: % in the month of sale and 40% in the month following the sale. 3. The company pays for 50% of its…

A: A cash disbursement is a financial outflow made in exchange for goods or services. To reimburse a…

Q: less cost of disposal. What is the impairment loss to be allocated to property, plant and equipment?…

A: IAS 36 deals with impairment of assets. When the market value or the current cost of the asset is…

Q: Mike started a computer programming business (12/2017), Mike’s Programming Service. The following…

A: The financial statements of the business including income statement and balance sheet are prepared…

Q: Determine John's AGI using the following information: Wages 50,000 Interest income 2,000 Dividend…

A: Adjusted gross income: It implies to the gross income of an individual after subtracting for all the…

Q: K. Corporation A43 in one of products. The company's A Department reports the following costs of…

A: It is a question of decision-making. Relevant costs are to be considered while making the decision.…

Q: Explain or illustrate before-tax cost of debt and after-tax cost of debt. 5. What are the…

A: The equity source and debt source of financing is considered to be important in capital structure.…

Q: Natalie Company purchased a machine for P6,600,000 on January 1, 2022 and received a government…

A: As per IAS 20, Of IFRS Accounting for Government Grants If grant received for an asset is accounted…

Q: Ahmad sells Satay Johor during the 15". Convocation fiesta at UTHM. He sets up the stall by himself,…

A: 1. Implicit cost are the cost for which no payment is required to be made, it is notional cost. Say…

Q: For amazon: 1. How could the organization create more value for its stakeholders? 2. Which of the…

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Q: Snyder Company produced 90,000 units during its first year of operations and sold 86,100 at $19.92…

A: Absorption costing allocates fixed overhead costs across all units produced for the period. Variable…

Q: Selected ratios for the current year for three companies in the office furniture industry follow:…

A: GIVEN Based on the above ratios which company do investors favour for future growth and investment…

Q: Tom and Faith are in a partnership sharing profits and losses in the ratio of 3/5 for Tom and 2/5…

A: Partnership means where two or more person comes together to do joint business and share the common…

Q: Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of…

A: 1. Preparation of standard cost card   Standard Quantity Standard rate Standard Cost per unit…

Q: The following standards have been established for a raw material used in the production of product…

A: Formulas: Material price variance = (Actual material price per pound - Standard material price per…

Q: Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began…

A: Variable marketing cost is a selling expense to be charged against income , but it will not be…

Q: units Number o

A: Depreciation  can be charged by various methods like straight line method, declining balance method…

Q: Nivea Company is planning to introduce a new product. Market research information suggests that the…

A: The product cost do not inludes the design and development cost. Design and development cost is…

Q: As the desire decreases for a given materiality amount, the sample size necessary to test an…

A: Auditing and Assurance

Q: ary 1, 2020, Levesque Co. purchased 500,000 ordinar at P14 per share, representing a 25% ownership…

A: Introduction: Investment income is described as the amount which a person or institution gains on…

Q: he monthly break-even point in unit sales and

A: Breakeven point means a Level when company earned no profit or no loss.

Q: Using the straight-line depreciation method, calculate the book value as of December 31, 20--.

A: Calculations didn't appear in decimal. So, there was no need to round answer to two decimal places .…