Differentiate between centralized and decentralized operations.   Also, differentiate between a profit center and an investment center

Q: Carla Vista Hardware Store completed the following merchandising transactions in the month of May. A...

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is recor...

Q: A transaction has been recorded in the general journal of Manella Company as follows: Account Title ...

A: A transaction is an organization interact that has a monetary effect on a company's financial statem...

Q: How many are the ordinary shares outstanding after reflecting the foregoing transactions for the yea...

A: Preference share capital refers to the portion of the share capital whose holders are paid dividends...

Q: ACC 307 – HW #4 – Chapters 7 and 8 The Beal Manufacturing Company’s costing system has two direct-co...

A: Note: As per our guidelines only the first three subparts will be solved   1. Particulars Per uni...

Q: On January 1, 2021, Mama Company purchased a machine for P2.750,000. The machine was depreciated usi...

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage a...

Q: Max Company has chosen to use an allowance account. When the cost of goods sold method is used with ...

A: Full form of NRV is Net Realizable Value.  

Q: Exercise 7-5 (Algo) Notes payable—discount basis LO 2 Skip to question [The following infor...

A: The question is based on the concept of Financial Mangement

Q: After a long dispute, AA, BB, and CC decided to liquidate their partnership. Their capital balances ...

A: The correct answer for the above question is given in the following steps for your reference

Q: Arrow Industries employs a standard cost system in which direct materials inventory is carried at st...

A: Direct Labor usage (efficiency) variance = (Actual hours worked - Standard hours allowed) x Standard...

Q: What is the estimated net annual savings in implementing the lockbox system? A. 22,985 B. 28,455 ...

A: Net Savings = Total Savings - Cost to be Incurred

Q: Gladstone Company issues 114,000 shares of preferred stock for $38 a share. The stock has fixed annu...

A: Solution..   Number of preferred shares = 114,000  Par value per share = $9  Rate of dividend = 9% 

Q: Anya Company disclosed the following accounts on December 31, 2020.                          12% Bo...

A: Journal entries refer to the process of systematic documentation of the financial transactions of a ...

Q: IFRS 10 Consolidated Financial Statements outlines the requirements for identifying the company that...

A:  To identify an acquirer(the entity that obtains 'control' over the acquiree.) in a business combina...

Q: Which costing method is best used in the trucking industry (ABC, Job Costing, Process Costing) Give ...

A: Costing Techniques: Costing techniques are strategies for finding out the cost-for-cost control and ...

Q: Greenwood Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. ...

A: The Activity based costing is the modern technique to assign cost to various activities. The cost of...

Q: Balance a checking account that recorded the following activity since the last statement. Deposits: ...

A: Bank Account The purpose of maintaining the bank account which can used for planning and maintenance...

Q: Understanding of accounting and its importance

A: Accounting is the process of recording, analyzing and summarizing the financial statement . It is ve...

Q: 1. Prepare the journal entries to record the February transactions. 2. Set up the following ledger a...

A: Journalizing- Journalizing is the method used by businesses to keep track of their transactions in a...

Q: Which of the following statements is most correct?

A: Companies or government require funds and for that sometimes they issue the bonds or debentures inst...

Q: During 2022, Emerald Inc. decided to change from FIFO method of inventory valuation to the weighted ...

A: The correct answer for the above mentioned question is given in the following steps for your referen...

Q: Bulldogs Inc. deals with various clients throughout the city and is attempting to collect its accoun...

A: Total receipts=Daily receipts×Average amount=300×P5,000=P1,500,000  

Q: ou are an audit senior in Riskam and Co and you are commencing the planning of the audit of CariBev ...

A: Audit risks refer to the risk of material misstatements that are identified during the planning stag...

Q: following is not a requisite of ‘object’?

A: This is a multiple choice question in which we have been given some options and we have to choose th...

Q: The economic order quantity of Mama Inc. is 1,000 unit.  They sold their sole product for a selling ...

A: At economic order quantity there is minimum holding and carrying cost involve. Economic order quanti...

Q: Preferred stocks are characterized by all the following, except voting rights are generally not pres...

A: Preferred stocks are components of share capital. Preferred stocks have preferential rights of divid...

Q: Find the APR for the following 5-year loan: A principal of £15,000 with a stated annual interest rat...

A: Excel formula which is used to calculate APR Formula:- APR =[ {(Interest + Fees )/ Loan amount} / N...

Q: On January 1,2020, Cielo Company leased an equipment from a lessor with the following pertinent info...

A: Annual rental payable at the end of each year P5,00,000 Lease Term 8 years Implicit interest rat...

Q: EXAM LOSS ACCOUNT WIT

A: In this question, we have to make trading and profit and loss account and balance sheet. The sharing...

Q: cess of preparing Consolidated Financial Statements involves the elimination of intercompany transac...

A: In subsidiary account and parent company account there are common transaction which are to be dealt ...

Q: In which of the following scenarios does the basic Economic Order Quantity model can be applied? * O...

A: Lets understand the basics. Economic order quantity(EOQ) is a quantity at which ordering cost and ca...

Q: On September 30,2021, when the carrying amount of the assets of a major subsidiary was P70,000,000, ...

A: Discontinued operations are accounting words that refer to parts of a company's operations that have...

Q: The economic order quantity of Bulldogs Inc. is 1,000 unit.  They sold their sole product for a sell...

A: Economic order quantity: Economic order quantity refers to the optimum level of quantity that minimi...

Q: How are conflicts between the shareholders and the management created? Which of the following is mos...

A: Management group might be more ready to take on more significant levels of chance, while shareholder...

Q: 8. Goodheart Corp's stock has a required rate of return of 11.50% on its equity, and it sells for P...

A: Solution...     Growth rate (g) = 7%  Rate of return (Ke) = 11.50%  Price (P0) = P25 

Q: Mr. Allen is a 65-year-old Jamaican tax resident. He is the director of a hotel, Allen’s Rest  Well ...

A: 1 )  Jamaican Tax Resident PEOPLE WITH MORE THAN OR EQUAL TO 65 YEARS OLD ARE GIVEN AN EXEMPTION ON ...

Q: Bulldogs Inc. enters into an agreement with a firm that will factor the company’s accounts receivabl...

A: The comparable annual cost of an asset is the yearly cost of owning, running, and maintaining it thr...

Q: True or false The change in depreciation method is a change in accounting policy.

A: Introduction:- Accounting policies are the specific principles, rules and regulations. Which are use...

Q: 1. When share options granted vest base on a service condition a. Total fair value of the share opt...

A: Since you have asked multiple questions which are related to each other but have not specified which...

Q: Question 20 of 30 -/1 View Policies Current Attempt in Progress Coronado Company uses a periodic inv...

A: Following should be noted regarding Periodic inventory system:   Under the periodic inventory system...

Q: Dublin Company had two operating divisions, ona manufactures machinery and the other breeds and sell...

A: given   On December 31, 2021, the carrying amount of the assets of the horse division was P5,000,000...

Q: Greenwood Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. ...

A: Activity rate = Estimated overhead costExpected activity The above formula is for the activity rate.

Q: Bulldogs Inc. wants to analyze its variances in its actual and budgeted operation. There is no diffe...

A: Sale price variance = (Actual sales price per unit - Budgeted sales price per unit) x Actual no. of ...

Q: At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant n...

A: When liability is created we credit liability account and debit the expense account 

Q: Crane Electric sold $6,240,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January ...

A: Solution: When bonds are redeemed before maturity date, difference between carrying value and redemp...

Q: Bulldogs Inc. has forecasted that its net income will be P520,000. The company has an debt-to- equit...

A: Under residual model, amount of dividend paid to common stockholders is the balance of Net Income af...

Q: Naughty Co. has a 12% note receivable dated June 30, 2009 in the original amount of P3,000,000. Paym...

A: Interest accrued on June 30, 2011 = Net Note receivable amount x rate of interest x no. of months in...

Q: A week before the expiration of the period, Aki told Jannie that she is no longer willing to sell th...

A: The answer for the multiple choice question and relevant explanation are presented hereunder : Aki o...

Q: Bulldogs Inc., a corporation that can only legally issue ordinary shares with par value, recently co...

A: New par value per share = Current par value per share x 1/ stock split ratio where, Current par valu...

Q: On January 4, 2022, Party Corporation purchase 80% of Summer Company's ordinary share for P810,000 w...

A: Consolidated shareholder's equity refers to the equity of the parent and the part of the equity of t...

Q: The audit of historical financial statements should be conducted by the CPA professionals in accorda...

A: The correct answer is given in the following steps for your reference.