Distinguish between a fictitious transaction and an artificial transaction?
Q: Income from financial leasing (remaining maturity of the instrument is more than 5 years), P3,000,00...
A: A gross receipts tax is a tax levied on a company's gross sales after deducting business expenditure...
Q: Piper Specialty Store Ltd. completed the following merchandising transactions in the month of May 20...
A: The refund liability = 2% FOB shipping point means the buyer pays the freight charges. FOB destinati...
Q: Required information Use the following information for the Exercises below. [The following informati...
A: "" Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for...
Q: Required: Identify four items/accounts with which the company can manipulate and affect the earning ...
A: Companies that manipulate accounts often seeking to increase their net income in order to create the...
Q: ABC Company is a relatively small dry-cleaning operation that has a very steady level of business. ...
A: Solution Fraud is the illegal alternation of a company's financial statements in order to manipulate...
Q: Use the following information for the Exercises below. [The following information applies to the que...
A: Under perpetual method update of the no.of units , unit cost and total cost is made every time there...
Q: 3. The following information are available for ABC Corporation: Ordinary shares, P100 par value, 50,...
A: The dividend is declared and paid to shareholders from the retained earnings of the business.
Q: (c) (c1) Given your new rankings in part (b), calculate how many bottles (units) of each product the...
A: This some is based on the bottleneck activity concept. In this first we will need to find out the co...
Q: , is best defined as An asset account An account showing the benefits to be paid to the employee An...
A: An asset account is an account that keeps track of a company's assets. Capital expenditures are dedu...
Q: Lise the cost information below for Sundar Company to determine the cont of goods manufactured cluri...
A: Cost of goods manufactured = Beginning work in process + Total manufacturing costs - Ending work in ...
Q: Exercise 3.18 Frida's Tax Practice has two departments, tax and audit. The tax department has two pr...
A: Cost accounting is one of the important form of accounting, under this all type of costs and expense...
Q: : The initial cost of a paint sand mill, including its installation is P 800,000. The depreciable l...
A: Sinking method assumption is made to collect amount of total value of machine at the end of period o...
Q: Which of the following costs would not be classifled as factory overhead? Multiple Cholce Insurance ...
A: Factory overhead : Factory overhead is the indirect cost estimated and expensed by the manufacturin...
Q: Determine the capitalized cost of a resear construction; P100000 at the cost of every y hereafter fo...
A: Original Construction Cost =P5,000,000 Annual Operating Cost from year 1 to 5 = P100,000 Annual Oper...
Q: i am doing chart of accounting general journal, 4/2 Purchased three computers and a printer from Bes...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: Date of Note Interest Maturity Date June 10 July 14 April 27
A: Interest expense refers to those expense which is paid by an individual or company on the amount bor...
Q: 0,000 of its 9%, 5-year bonds for $144,218 when the market rate was 10%. The bonds pay interest semi...
A: Amortization refers to the process of systematically declining the initial cost of an asset.
Q: company, had the following receipts in January 2022: Receipts from passengers, P2,700,000 Receipts ...
A: Calculation of Total Input VAT Available Particulars Amount Input VAT on gasoline P50,000 ...
Q: Find the monthly payment and estimate the remaining balance. Assume interest is on the upaid balance...
A: The question is based on the concept of Annuity in Financial Management. Annuity refers to the serie...
Q: A printing company manufactures notebooks of various sizes. The company manufactures 3,000 notebooks...
A: “Since you have asked multiple question, we will solve the first question for you. If you want any s...
Q: Gehring Company recently tried to improve analysis of its manufacturing process. There is no beginni...
A:
Q: Which of the following is not considered a current liability?A. Accounts PayableB. Unearned RevenueC...
A: Liabilities - Liabilities are divided into Current Liabilities and Long term Liabilities. Current Li...
Q: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to recordthe t...
A: There are two type of stock or shares that are being issued by the company for raising of funds from...
Q: Sally received an invoice dated on 15 February 2020 worth RM4,050 of goods that included a prepaid f...
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...
Q: ing year is P900,000. A proposed relaxation of credit standards increase the Accounts receivable bal...
A: account receivable turnover ratio is ratio that are used by the company to measures the effectivenes...
Q: QUESTION 9 Frying Dutchman, Inc. had beginning Work-in-Process Inventory (WIP) of $8,000. It incurre...
A: Sales commission will not form part of cost of goods manufactured.
Q: V Company uses job order costing and had a balance in Work-in-Process Inventory on January 1 of $141...
A: Job order costing is applicable to where work is undertaken to customer's special requirement Overh...
Q: ASAP Kindly give a full explanation for each option why it is correct or why others are wrong 1...
A: Process costing is one of the important section of cost accounting, under which costs and expenses o...
Q: Exercise 5-2 Inventory costs LO C2 Walberg Associates, antique dealers, purchased goods for $37,900....
A: Solution:- Given, Wallberg Associates, antique dealers, purchased goods = $37,900 Cost of transporti...
Q: management con $6,000. Payroll for the month of May is as follows: FICA Social Securi federal inco...
A: A
Q: x and y are partners who share profits and losses in a ration of 2;1 with capital balances of 800k a...
A: Answer) Calculation of amount to be credited to Capital Account of B Amount to be credited to Capita...
Q: Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandi...
A: The journal entry is the first step in the accounting process which signifies recording of financial...
Q: PROBLEM 7. Mcoy Company has, for the coming year, budgeted sales of P3,200,000 with contribution mar...
A: Break even point means where there is no profit no loss. Variable cost means the cost which vary wit...
Q: Accounting designed to meet the needs of decision-makers inside the business is referred to as gener...
A: Lets understand the meaning of management accounting. It is a type of accounting designed to meet th...
Q: Paynesville Corporation manufactures and sells a preservative used in food and drug manufacturing. T...
A:
Q: Harmony, a citizen and resident of the Philippines, married, died, leaving the following properties:...
A: Correct option is p450,000.
Q: Recording Standards in Accounts Cioffi Manufacturing Company incorporates standards in its accounts...
A: Direct Materials Price Variance = (Actual price - Standard price) x Actual quantity = (5...
Q: PRINCESS Trading Company presents the following data as of December 31, 2018. Percent to sales Amoun...
A: Additional Fund Needed: Greater funds necessary (AFN) refers to the amount of money a corporation ne...
Q: Use the following information for the Exercises below. [The following information applies to the que...
A: Inventory costing is an important function that is carried out by most of the organizations that dea...
Q: Debit Credit Cash $33,590 Journalize the adjusting entries. (Credit account titles are automatically...
A: The question is based on the concept of Financial Accounting.
Q: Total fixed costs P1.8M Unit selling price Unit variable cost P80.00 P56.00 dicate the effect on the...
A: Answer 1) Break-even units = Total Fixed Cost/ Contribution margin per unit Break-even units = Total...
Q: Consider the following events: • 25,000 shares of preferred stock, cumulative, 5%, $40 par was issue...
A: Proceeds from issue of Preferred stock = 25,000 shares x $60 per share = $1,500,000 Dividend paid to...
Q: 18. Which of the following cost allocation methods does not take into consideration that service cen...
A: The direct method is the simplest of the four. The direct method allocates the costs of each of the ...
Q: You are an accountant working for a company that has recently decided to incorporate. The company ha...
A: Expenses incurred in the process of incorporation are known as preliminary expenses or incorporation...
Q: An inventory of supplies showed $200 of supplies were left 2. There was $500 of depreciation on Fur...
A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred b...
Q: The business is not vat-registered. Determine the income tax due assuming Kagura opted to be taxed u...
A: As per our protocol we provide solution to the one question only but as you have asked two different...
Q: PROBLEM 2. Outlast Company's projected profit for the coming year follows: Per Unit Total P200,000 (...
A: cost volume profit analysis statement is prepared in order to find the impact that whenever there is...
Q: What will you use to allocate the cost of the purchasing department? a.Number of purchase orders ge...
A: Answer) The correct answer in the given question is: Number of purchase orders generated Justifi...
Q: Angat Buhay Organization (ABO), a non-profit organization, received the following donations and pled...
A: Non profit organizations receive donations of different kinds from donors. Sometimes the donors may ...
Q: Using the financial information is presented below: Operating Expenses $ 55,000 ...
A: Solution: Net sales = Sales - Sales returns and allowances - Sales discount = $160,000 - $13,000 - $...
Distinguish between a fictitious transaction and an artificial transaction?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps