E information system mind maps to describe: rought about by the uele

Q: Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $150,000 of business…

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

Q: Please record the entries for the inventory transactions below (Perpetual Inventory System) 1) Oct1…

A: Date  Merchant Account Titles & Narration Debit Credit           1-Oct GSC's Inc Inventory…

Q: Exercise 9-1 (Algo) Classifying llabilitles LO C1 The following items appear on the balance sheet of…

A: Liability means the amount which is to be paid to an outsider by business.  It is the present…

Q: 93.000. The CCA rate for this asset is 32% The asset's useful life is two years after which it will…

A: Less refers to the owner of an asset who leases it out to a lessor in return for some interest.

Q: As part of its accounting process, estimated incon ed each month for 28% of the current month's net…

A: Companies estimates the uncertain amount for the benefits of employees like pension, vacation pay,…

Q: 21 Which of the following would best describe a stock acquisition? Group of answer choices ABC…

A: In  case one company overtake the assets and liabilities of another company , then accounting for…

Q: Q7-2. Will an investor earn more if interest is compounded semiannually or if the investment pays…

A: Interest is an income for carrying an investment. Interest accrues on periodic basis like annually,…

Q: Which of the following statements is TRUE? * A business should credit Revenue when the business…

A: Some key concepts on accounting:   • Donations are not in the nature of revenue to a business with…

Q: On September 1, Ayayai Office Supply had an inventory that included a variety of calculators. The…

A: The question is based on the concept of Financial Accounting.

Q: Pls answer the all questions Explain the Concepts 1. Situs of Taxation 2. Double Taxation 3. Tax…

A: 1.Situs of Taxation Situs of taxation means the place where the subject is to be taxed. Generally ,…

Q: Roland had revenues of $610,000 in March. Fixed costs in March were $199,670 and profit was $50,430.…

A: The contribution margin is the amount by which your company's sales revenue exceeds its variable…

Q: A plant asset was purchased on January 1 for $75,000 with an estimated salvage value of $15,000 at…

A: Depreciation as per straight line method  = (Cost - residual value) /usefullife

Q: Jenks Company developed the following information abou its inventories in applying the…

A: Under Lower of cost or net realizable value method, value of each item of inventory is calculated by…

Q: On February 1, 2022, AA and BB formed a partnership and agreed to share profits in the ratio of 4:6,…

A: The capital account is credited by the value of contribution brought by the partner into the…

Q: Select an "X" in the column that corresponds to the type of activity-level referred to in the…

A: Activity Based Costing (ABC) involve the allocation of indirect costs such as salaries and utilities…

Q: Michelin Star Co. decided to lease its Building to Hawker Inc. Which of the following situation is…

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

Q: Pls answer the all questions with solutions 12 – 13. Wins Department Store had net credit sales of…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning…

Q: Problem 13-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following…

A: 2. A common size income statement is an income statement where each line item of the income…

Q: NoFlush is a firm that produces portable sanitation units. This firm uses backflush costing and…

A: Back flush costing system is a product costing system. This system records cost only after the sale…

Q: Discuss Theories related to auditors independence

A: Independence requires integrity and an objective approach to the audit process. The concept requires…

Q: On July 1, 2019, Olga, Mega and Giga formed the OMG Partnership, by combining their separate…

A:

Q: 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. (Use cells A4 to…

A: LIFO Method - Under LIFO Method of Inventory valuation Inventory purchased latest will be used in…

Q: In testing controls over cash disbursements, an auditor most likely would determine that the person…

A: The question is related to Auditingbof Cash disbursement.

Q: and correcting its books at the end of 2020. In reviewing its records, the following information was…

A: Retained earnings refer to the earnings remaining at a company after it has distributed dividends to…

Q: On October 1, 2021, Hess Company places a new asset into service. The cost of the asset is $120,000…

A: Double-declining balance method of depreciation is a method that calculated depreciation at the…

Q: Which of the following will decrease the home office account of the branch? O Payment by the home…

A: Since the Investment in Branch and Home office account is reciprocal accounts, just like the bank…

Q: Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank &…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: please answer part iv v vi

A: Given: Budgeted Variable overheads - Rs 8,00,000 Budgeted fixed overheads - Rs 5,00,000 Budgeted…

Q: O years if it eams 8% annum

A: Investment is act of allocating resources with the expectations of generating income.

Q: A firm uses backflush costing and values inventory using throughput accounting. All actual amounts…

A: Solution A journal is the company's official book in which transactions recorded according to double…

Q: CBA Ltd sells smartphones. The following information relates to its best-selling model Tex for the…

A: The question is based on the concept of Cost Accounting.

Q: Which of the following is the correct ending to the next sentence? When an owner makes a withdrawal…

A: Owner equity means the amount that belong to the owner of the business.  Any profit will increase…

Q: You have $16,000 to invest. You want to purchase shares of Alaska Air at $43.16, Best Buy at $5202,…

A: Amount invested = Amount * Weight Amount invested in Alaska Air = 40% * $16,000 = $6,400 Amount…

Q: Rip Court Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker…

A: The answer is stated below:

Q: V. Levy a prop tax of 90; expect to only collect 62 W. Place an order for goods of 79 X. The goods…

A: S.no transactions debit  credit V. Current- tax receivables A/C dr 90     Current taxes…

Q: 36. The term footing refers to the: process of obtaining the top number in an account. process of…

A: While reviewing a draft Financial Statements, a number of methods are applied on the financial…

Q: During 2021, Cavite Coffee had profit of P8,200,000. Included on its income statement was…

A: Introduction: Statement of cash flows: All cash in and outflows are shown in Cash flow statements.…

Q: Greek Manufacturing Company produces and sells a line of product that are sold usually all year…

A: GIVEN     Greek Manufacturing Company produces and sells a line of product that are sold usually all…

Q: Partners W, X, Y and Z are partners of WXYZ Partnership who shares profits and losses in the ratio…

A: Answer: Partner Z will not receive any bonus because the net income after deducting the interest,…

Q: Based on event #1 above, what would be the ending inventory balance on the December 31, 2X01…

A: Consolidated financial statement is the statement which has been prepared by the parent company at…

Q: Mr

A: Solution; Taxes are due James Santiago II  Gross income = P 800,000 Addition:  A total of $ 300,000…

Q: Jarett Motors is trying to decide whether it should keep its existing car washing machine or…

A: The overall cost incurred as a result of producing an additional unit of products is known as…

Q: Pasha Company produced 50 defective units last month at a unit manufacturing cost of $30. The…

A: Lets understand the basics. There are two type of cost which are, (I) Relevant costs (II) Irrelevant…

Q: I only need part B   Part A On January 1, 2023, Baker Company purchased, as an investment, 5% bonds,…

A: A debt instrument is when recognized as available for sale the change in fair value of the…

Q: The Investment in Antipolo Branch in the books of the home office is lower than the Home Office…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : Head…

Q: Q8: What is the value of a perpetuity of P100 per year if the discount rate is 5% and the cash flows…

A: The perpetuity value = $100 per year Discounting Rate = 5% First Perpetuity receivable: after 2…

Q: Shown below are account balances found in the ledger of Emerald Green Corporation at the end of…

A: The question is related to number of preferences share and common share issued and subscribed.…

Q: Fixed costs are P 240,000 and contribution margin ratio is 48%. What is breakeven point peso sales?…

A: Break even point in pesos Fixed cost / contribution margin or PV Ratio Break even point in units…

Q: E. The following accounts appear in the general ledger of Rey's Internet Café on December 31, 20OD:…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: XYZ Partnership has total Capital investments of P300,000 invested equally. Annual salaries…

A: Calculation of X's capital balance after distribution of Net Income    Amount (In P)  Beginning…