Ethical behavior is most likely to be compromised when the
Q: Before considering any deductions because of these casualties, Tony's AGI is $80,000. What…
A: Calculation of deductions that Tony may take are as follows:
Q: , 2018, ABC Company borrowed P1,000,000 on a 10% five-year note payable. On December 31, 2018, the…
A: Basic Accounting Concepts, Note Payable
Q: Prepare all the necessary journal entries assuming the share warrants are fully exercised.
A: Issue price of bonds with warrants (5,000,000 x 103) = 515,000,000 Market value of bonds without…
Q: invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and…
A: Generally the discount is given by the supplier in order to receive the immediate payment and create…
Q: TB EX Qu. 7-204 Nate's Hot Dogs exchanges long-term assets with Lizzy's. Nate's Hot Dogs exchanges…
A: The exchange transactions are incurred by acquiring an assets by giving old assets from the…
Q: stockholders of a portion of their original investments is a
A: Property dividend is when a company pays dividend to its shareholders in the form of assets.…
Q: PT Angkasa which is located at Jalan Angkasa Pura No.234 Jakarta, on May 1, 2019 established a petty…
A: Petty Cash refers to cash that is required for day-to-day expenses.
Q: ABC company projected sales of 100,000 books for 2021. The estimated January 1, 2021, finished goods…
A: Budgeted production = Projected sales + Ending inventory - Beginning inventory
Q: artnership should be adjuste
A: Partnership is a type of business. In partnership there are some Reconstruction of partnership event…
Q: How much is the tax due on gross receipts of a small business with P500,000gross receipts for the…
A: Comment- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Holden Simpson manages a Dairy Land drive-in. His straight-time pay is $16 per hour, with…
A: Computation of gross pay 40 * $16 + [(51 - 40hrs) * $16 *1.5] $640 + $264 $904 Computation of Net…
Q: A company purchased $3,200 of merchandise on July 5 with terms 1/10, n/30. On July 7, it returned…
A: Discount of 1% is valid for 10 days from the date of purchase. So the discount is valid till July…
Q: Record Journal Entries 22-Oct Received $490 from Becker Tire Shop for sale dated 12-Oct, $500 face,…
A: Journal Entries: A Journal Entry is record of all accounting transactions happened during an…
Q: 5. Platinum Trophy collects 25% of its sales on account in the month of the sale and 75% in the…
A: A budget is a forecast of revenue and expenses for a certain future period of time that is generally…
Q: 80,000. By the end of the year inventory on hand are valued at $48,000 transfer price. Parent…
A: Journal entries (JF) refers to the original books of accounts which reports the event occurred in…
Q: Direct Materials Purchases Budget Soda Company is the largest bottler in Western Europe. The…
A: Direct material budget is the estimated summary prepared to forecast the material to be required to…
Q: Explain the calculation procedures for and significance of each of the following:a. Return on…
A: a. Return on sales: It is a financial ratio that state how efficiently an organization is earning…
Q: Two online travel companies, E-Travel and Pricecheck, provide the following selected financial…
A: Solution:- 1-a)Calculation of the debt to equity ratio for E-Travel and Price check as follows…
Q: Which of the following is a liability of the Bank of Canada? a) Government bonds b) Canadian…
A: The central bank buys foreign currencies from foreign currency market. It creates a liability.
Q: Bill sells inventory with a cost of $40,000 for $60,000. Bill expects 4 percent of the inventory to…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: 1. Platinum Trophy, Inc. projects sales of 45,000 brass plaques for 201X. The estimated January 1,…
A: The budgeted unit of production is the estimated unit of production. It is the target unit to be…
Q: record in the table below. Calculate the change in market value OE, change in valuation equity and…
A: Change is market value is the value which has been changed during the year as compared with the…
Q: is able to determine the data n ssic and 16 minutes to cut 1 un per day. It will take 14 minute tal…
A: Let, x be the number of Classic rubber shoes and y be the number of Freestyle rubber shoes.
Q: displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at…
A: Under straight method the depreciation is uniform for all years. Computation of depreciation per…
Q: Here is financial information for Sage Hill Inc. Prepare a schedule showing a horizontal analysis…
A: Horizontal analysis means where the analysis is made with regard with two different period where as…
Q: following cash payments Maintenance expense oftice supplies Transportation expense $24.90 33.20 16.0…
A: Revenue-Expenses=Net Income
Q: Corporation specializes in the sale of printing
A: Purchase discount is also called as cash discount which is given by the saler for…
Q: What is an estate tax and donor tax? Give example how to compute estate and donor taxes
A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…
Q: 2- Usually, equity dominates liabiliti O True O False
A: The Debt-Equity Ratio measures the long-term solvency of a business organization. The lower the debt…
Q: Prepare journal entries to record each of the following transactions of a merchandising company. The…
A: Date General Journal Debit Credit Nov'5 Inventory (1,500 units X $ 40 per unit) $ 60,000…
Q: 1) Determine the total amount of manufacturing overhead. Manufacturing overhead $ 2) Determine…
A: Manufacturing Overhead: Factory utilities $18,700 Depreciation on factory equipment 15,370…
Q: 1. Grandbaby is a common carrier by sea. During a particular quarter, its receipts consist of the…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want the…
Q: You have been hired as the controller at Akfit, a distributor of exercise equipment. The manager has…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want…
Q: Robin,Cardinal, Jay are partners sharing profits and losses 30/30/40 respectively. Their capital…
A: Partnership Accounting
Q: Instruction: Write "T" if the statement is correct and "F" if incorrect. 1. When a new partner is…
A: 1) True, when a new partner is admitted then the old partnership deed is automatically and a new…
Q: Required information (The following information applies to the questions displayed below.) On…
A: Adjusted Trial balance are the balances of all the accounts after taking into consideration the…
Q: Record Journal Entries
A: Journal entries are those entries which a company have to record on the book of original entries.…
Q: Make graph in exc el that show the comparison on Machine A vs. Machine B Net Present Value using the…
A: Capital Budgeting
Q: Diego Company paid $186,000 cash to acquire a group of items consisting of land appraised at $53,000…
A: Formula: Cost allocated to Land = Total amount paid x Appraisal value of Land / Total Appraisal…
Q: An entity records on December 31, 20x1 show the following account balances: Trade accounts…
A: Liabilities are the obligations or dues which needs to be settled down or being paid by the…
Q: Static Budget versus Flexible Budget The production supervisor of the Machining Department for…
A: The flexible budget is prepared to estimate the production cost for actual units produced on the…
Q: The quality assurance personnel inspect the cookies before they are packaged for sale. Any cookie…
A: Material Price Variance: This variance arise when Actual Price of material is different from…
Q: Prentice Company had cash sales of $95,275, credit sales of $84,050, sales returns and allowances of…
A: Net sales = Total sales - Sales return and allowances - Sales discount where, Total sales = Cash…
Q: The Decatur Co. awarded senior executives 50,000 stock options exercisable into an equal number of…
A: Common Stock: Common stock is one of the part of stockholder's equity of company. It is the most…
Q: 25. Calculate the amount of corporate income tax due and the net income after taxes (in $) for the…
A: Formula: Net income after taxes = Taxable income - Tax liability
Q: Problem: The Company has Sales of P88,000, a Contribution Margin Ratio of 25%6, and Margin of Safety…
A: Formula: Contribution margin = Sales x Contribution margin ratio
Q: The amusement tax due
A: Quarterly PercentageTax Rates Table Coverage Taxable Base Tax Rate Non-VAT registered…
Q: The new delivery truck is worth a total of Php 7.4M, with a residual value after 8 years is Php…
A: Rate of depreciation under diminishing balance Method = 1 - (Salvage value/Original cost)8
Q: Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.7 hours @ $13.00 per hour) Overhead…
A: Direct labor variance Total is the sum of direct labor rate variance and direct labor efficiency…
Q: i. On November 30, you are supplied with the following information by your employer, Mary Martha…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Step by step
Solved in 2 steps
- QUESTION 32 Which of the follwing is not a mechanism to reduce agenct's undesirable behavior? A. knowledge transfer from principal to agent B. threat of hostile takeover C. existence of labor market D. compensation based on output/performance (stock proce, income, etc.) E. monitoring on agent behavior36. Which of the following is NOT a function of corporate culture? a. serves as a frame of reference for employees to use as a guide for appropriate behavior b. keeps people guessing about what to do next c. helps generate employee commitment to something greater than themselves d. adds to the stability of the organization as a social system e. conveys a sense of identity for employees33) Which threat may occur when, because of a close relationship, a professional accountant becomes too sympathetic to the interests of others? a) Self-interest threats b) Advocacy threats c) Familiarity threats d) Self-review threats
- Q 3 How would an auditor go about assessing management integrity? Why management’s integrity is considered the most important factor affecting the client acceptance or continuation decision? Suppose you came across a situation in which you have to decide between losing your job as an auditor or write against the corrupt practices of Board of Directors in financial statements. What would you do?17/Which of the following statement is correct? while comparing between management accounting and financial accounting. a. None of the options b. Management accounting is based on double entry system c. Financial accounting is for internal users and follows restrictive rules and regulations. d. Managerial accounting is for external users (managers) who plan, control, and make decisions.34) Which threat may occur as a result of the financial or other interests of a professional accountant or of an immediate or close family member? a) Familiarity threats b) Self-review threats c) Advocacy threats d) Self-interest threats
- 21) Which is not one of the fraud factors in the Fraud Pentagon? A. Incentive B. Pressure C. Opportunity D. Employee disenfranchisement50. The following are challenges faced by organization in risk management, except Group of answer choices Top management may tend to be focused on achieving their goals to the extent of being blind to the unanticipated consequences of their policies Multiple simultaneous risks materializing None of the choices The extra risks of less democratic organizations Organizations being too risk-averse41 Select the one, that is considered as various forms of regulation in a business organization: a.Regulation of consumer relations b.All of the options c.Regulation of monopoly d.Regulation of employee relations
- 12. A professional accountant should be straightforward and honest in all professional and business relationships, meaning ____________. a. Integrity b. Objectivity c. None of the given options d. ConfidentialityQuestion 1 2020 (i) Agency theory is based on the view thatA. The purpose of corporate governance (CG) should be to satisfy (as far as possible) the objectives of all stakeholders.B. Boards of directors are considered as important mechanism for reducing transaction costs associated with environmental interdependency.C. Corporate governance will be to employ or design techniques or systems that can secure the interests and values of the management.D. The system of CG should be designed to minimise agency problems & costs. (ii) Which one of the following statements is not a relevant reason for an accountant to liaise with their predecessor when accepting a professional assignment?A. It is a matter of professional etiquetteB. To avoid the appearance of solicitationC. To determine whether the professional fees charged were adequate to avoid threats to due careD. To identify if there are professional reasons why the appointment should not be accepted. (iii) Which threat can possibly…True or False: While everyone seems to accept the idea that attention must be paid to organizational stakeholders, it is difficult to know which ones should be given the most attention. Question 29 options: True False
