Discuss weaknesses in the public sector accounting and finance in the usage of resources that might hinder the social and public service delivery

Q: Banzon and Borja are partners in B&B Enterprises. Partnership profits and losses are allocated as fo...

A: Answer) Calculation of Bojra’s share in Net Profits    Banzon  Bojra Total Salaries ...

Q: Pricing Plan 1 - $30 per person (a special pack will be included) Pricing Plan 2 - $25 per visitor (...

A: Hi student Since there are multiple subparts, we will answer only first three subparts.  

Q: Question: Is ASIA PACIFIC engaged in banking? Give your reasons.

A: Banking refers to the business activity of safeguarding as well as accepting the money owned through...

Q: On January 2, 2017 Skysong Company leases a machine with a fair value of $35,000 from Snead, Inc., o...

A: Initial measurement of lease contract at January 2, 2017: Year Lease payments/ guarantees Present...

Q: The selling price of lumber at Home Depot is $3,260, percent markup on cost is 25%. Calculate the ac...

A: Lets understand the basics. For calculating actual cost, we need to remove the mark up from the sell...

Q: Purchased land by issuing a $670,000, 90-day note to Zahorik Co., which discounted it at 9%. Dec. 1...

A: Land was purchased against Note which has a duration of 90 days. The question requires to make the j...

Q: Di Ka Mahal Company reported total purchases of P2,500,000 in its cash basis financial statements on...

A: The purchases on accrual basis can be calculated as change in account payable and the cash paid for ...

Q: Mr Zoo is planning to set up a mini Zoo in Howick.   The following relates to different pricing pl...

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...

Q: 00, Direct labor usage (efficiency) variance—unfavorable P4,200. What were the actual hours worked, ...

A: Actual hours worked refers to all hours worked by the employee and excludes any paid or unpaid leave...

Q: Use the following to answer questions 26 – 27 The company invested $250,000 on October 1, 20X. 3.75%...

A: Simple interest is the interest without compounding and it is calculated based on the period and int...

Q: Discussion Question _Job Costing I The Harriott manufacturing company uses job order costing system....

A: (ii)

Q: value of each of the following streams of payments? c. $35 a year for 7 years compounded annually at...

A: Here future value can be calculated as follows =  P x (1+Rn-1)/R  

Q: Asnwer true or false  In a sale and leaseback transaction that qualifies as a sale under PFRS 16, t...

A: "Since you have asked multiple question we will be solving first question for you ,If you want any s...

Q: Compton Information Services, Ic., has two service departments: human resources and billing. Compton...

A: The cost of service department cost can be allocated to different operating departments on the basis...

Q: On November 1, a company bought supplies for $200. The $200 was debited to the Supplies account. An ...

A: Adjusting entries are made at the end of the period in the books in order to show the correct effect...

Q: A U.S. Based company has a short-term cash balance of USD 10 million. The company intends to invest ...

A: Implied rate is the difference between the current spot rate and future exchange rate. Therefore, as...

Q: Using FIFO method, calculate (i) cost of goods sold, (ii) ending inventory, and (ii) gross profit. (...

A: 1. First-in, first-out (FIFO) cost flow assumption - Under FIFO Method, Inventory purchased first is...

Q: Partners Do, Re and Mi formed a partnership. The following are their respective contributions and as...

A: Partnership is the association of two or more persons where partners agreed to share profit and loss...

Q: Compute the value of the lease liability to the lessee.

A: Value of lease liability=Present value of annual lease payment+Present value of guaranteed residual ...

Q: Mala-Prohibita Company has annual credit purchase of P720,000 with a usual term of 3/10, net 35. The...

A: Formula: Cash discount = Annual credit purchases x Discount rate

Q: ght finances. Lillian did nc e, Lillian, withdrew $20,0C t and Lyle is the contribut e $20,000 withd...

A: Tax refers to the percentile charge levied by the government over the income gained by an entity.,  

Q: Salaries and wages payable $1,700 Notes payable (long-term) $1,700 Salaries and wages expense 51,800...

A: Formula: Net Income = Revenues - Expenses.

Q: ADJUSTED TRIAL BALANCE DECEMBER 31, 2017 Account Titles Dr. Cr. $ 6,590 15,618 1,200 31,800 Cash Acc...

A: The financial statements are prepared by the business entity to show the performance of the business...

Q: wner borrowed P4,000,000 in notes from the bank and paid of notes of P3,000,000 and interest of P240...

A: Computation of the net income for the current year.   Effect on Equity       Increase Decrease ...

Q: Question #5:  Beginning inventory, purchases, and sales data for prepaid cell phones for May are as...

A: Answer a) Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phone Date Purchase ...

Q: Mahal Mo Co. reported revenue of P3,100,000 in its accrual basis income statement for the year ended...

A: To calculate sales under cash basis from sales under accrual basis we will prepare account receivabl...

Q: Give me an examples of t account for my accounting class.  I need examples with asset, liability rev...

A: T accounts are the general ledger accounts that is being prepared by the business for posting of rec...

Q: Question #4: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for por...

A: GIVEN     Beginning inventory, purchases, and sales data for portable game players are as follows: ...

Q: True or false: When the parent acquired 100 percent of the subsidiary’s stock for book value duri...

A:

Q: Not all income earned by a CFC is subjected to current taxation to US persons. Income that is subjec...

A: Passive Income: Passive income is profit from an investment property, restricted association, or oth...

Q: Use the following to answer questions 12 – 15 At December 31, KC Co reported accounts receivable of ...

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

Q: A and B formed a partnership. A contributed cash of P50,000 and equipment with a cost of P40,000, ac...

A: The amount credited to A, Capital account will be fair value of assets contributed by A minus liabil...

Q: West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purc...

A: Lets understand the basics. In straight line basis, depreciation is calculated by the depreciate ass...

Q: Formula: Multiply; Cell Referencing Q R Using Excel to Determine Ending Inventory Student Work Area ...

A: FIFO method implies First In First Out. It means goods purchased first is sold first and in ending i...

Q: A manager prepared the following table by which to analyze labor costs for the month: Actual hours a...

A: Total labor variance = Standard hours at Standard rate - Actual hours at Actual rate Actual hours at...

Q: The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Pi...

A:

Q: ACCT 102

A: Cash received in first year means cash received from the sale of bonds. Cash paid in the first year ...

Q: Activity 2: Identification Directions: Identify the accounting principles that are being violated in...

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

Q: Complete a depreciation schedule to enter fixed-asset data in an Excel table, calculate depreciation...

A: Straight line method ( SLM ) of depreciation is a method of depreciation under which there is equal ...

Q: Nov. 30: Journalized the monthly payroll for November, based on the following data. Description ent...

A:  answers Description Debit Credit Sales Salaries Expense $135,000   Office Salaries Expens...

Q: West Coast Tours runs boat tours along the West Coast of British Columbia. On March 5, 2020, it purc...

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by u...

Q: Using Excel spreadsheet / worksheet, determine Anna's profit. Attach excel solution.

A: Operating income refers to the income or gross profit generated by the company from its operations o...

Q: 24. Pinaasa Company had total assets of P4,000,000 and shareholder’s equity of P2,080,000 at the beg...

A: Shareholder's Equity refers to Sum of Share capital like preferred stock, Common stock and Retained ...

Q: 020, Staged Home Ltd. completed the following transactions involving delivery trucks:    July   5 T...

A: The journal entries are prepared to record day to day transactions of the business on regular basis.

Q: The firms similar to Raphael Marco is having a P/E Multiple of 4. Given the earnings per share calcu...

A: P/E Multiple = Market Price per share/ Earnings per share

Q: öf thé nát is the present value of the followin annually? Beginning Cash Flow of Year 1 P2,500 2 2,7...

A: The present value of a future sum of money or stream of cash flows with a fixed rate of return is it...

Q: The primary measurement basis is a.) The current market price if the asset currently held was sold ...

A: there are different measurement devices that are used- historical cost current cost net realizable ...

Q: e   January 1,   Annual lease payment due at the beginning of    each year, beginning with January 1...

A: The Pina prepaid to the rent of $5,000 to Faldo is given as,

Q: 1. How does incremental budgeting differ from program planning budgeting? How does it differ from ze...

A: ‘Budgeting’: It is a process which refers to estimation of future revenues and expenses, for a speci...

Q: 36... Teal Leasing Company agrees to lease equipment to Flint Corporation on January 1, 2020. The f...

A: Lease is a form of agreement between two parties, in which one party provides it's asset for use to ...

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.