Evaluate and Integrate the role of quantitative information in making business decisions.

Q: MATCHING TYPE: Harry Potter started a Food business to be known as "Harry Delights". He performed th...

A: As per the accounting equation sum of assets= sum of liabilities + owner's equity

Q: Mike Macalino owns a note for P 45,000 due in 5 years and 6 months. How much should a buyer pay now ...

A: Lets understand the basics. For calculating how much buyer should pay now for note, we need to use b...

Q: On January 24, 2022, Mother Earth Consulting collected $5,700 it had billed its clients for services...

A: Lets understand the basics. In matching principle of accounting, income and expense should be record...

Q: E8.8 (LO 2), AP Horvath Company uses an imprest petty cash system. The fund was established on March...

A: Journal is the book of original entry in which all the transactions of the business are recorded ini...

Q: In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by oper...

A: Cash flow statement refers to a financial statement which shows the flows of cash and cash equivalen...

Q: Yao Company began operations on June 1, 20x1 and prepares monthly financial statements. It has the f...

A: The prepaid expenses are the expenses paid in advance but not yet due for payment. 

Q: Consider the unadjusted trial balance of Riverdale Company at June 30, 2016, and the related month-e...

A: Trial balance is a statement which lists all the general ledgers in the books of accounts with their...

Q: Ellen moved to canada on April 30th, 2021. Ellen was born and raised in France and moved to Canada t...

A: Gifts amounting $2000 shall not be taxed as it is exempt from tax.

Q: Assume that a lawyer bills her clients $15,000 on June 30, for services rendered during June. The la...

A: Under the accrual basis of accounting , revenue is recognised when the services or goods are rendere...

Q: Last year. Abner Company incurred Direct materials Direct labor Factory overhead Selling expense Adm...

A: Prime cost is the direct cost of production that includes direct material and direct labor. it does ...

Q: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, ...

A:

Q: Which of the following branches of accounting is often limited to preparing and distributing financi...

A: Accounting is the process whereby the costs and revenues of the business are estimated and recorded....

Q: Topic major measures of Central value A machinery depreciated by 40% in the first year, 25 per cent ...

A: Here in this question, we are required to calculate average rate of depreciation for the period. For...

Q: In your own understanding, Why is technical writing important in our everyday lives?

A: Technical writing is the most important impactful way of communication to the users and in our daily...

Q: Compute the amount of revenue from Monthly clients.

A: Income statement is a form of financial statement which shows all incomes and all expenses of the bu...

Q: Wagner Accounting & Tax Services provides accounting and tax services in Tampa, Florida. The follow...

A: Closing Entries - Closing entries are required to close the temporary accounts after making financi...

Q: If you decide to join a partnership, which type of admission would you choose and why?

A: Solution Partnership means a business that has two or more owners who agree to share profits and are...

Q: 9.The inventory records of Kiwi Company show the following purchases during the first quarter operat...

A: FIFO means first in first out which means that first opening stock will be sold and then goods are s...

Q: determine how much revenue is recognized in December using Acura basic accounting on December 7th Ok...

A: Accrual basis of accounting requires recognition of revenues and expenses as and when it is due irre...

Q: In 2018, Keitel made the following changes to the portfolio: E On Feb. 15, sold 2,400 Alpha shares f...

A: Equity Investment in FVOCI Investment which can be classified into two types FVPL and FVOCI and the ...

Q: 7.On March 31, 2021, the warehouse of Cucumber Company was destroyed by fire. The company's markup...

A: Inventory, 12/31/2020 (O) = P600,000 Sales (S) = P2,240,000 Purchases for the 1st quarter (P) = P1,7...

Q: The Polaris Company uses a job-order costing system. The following transactions occurred in October:...

A: A T-account is a colloquial term for a set of financial records that employ double-entry bookkeeping...

Q: Pro-Craft Company computed the following activity rates to allocate overhead cost for the year. Acti...

A: The overhead can be applied to the production on the basis of predetermined overhead rate.  The pred...

Q: On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar ...

A: As per accrual concept of accounting, business should record all expenses and revenues for the parti...

Q: On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar ...

A: Given that property tax for the calendar year 2014 paid on March 15, 2014 is P180,000 Property tax p...

Q: 117. At December 31, 2017, Sue's Boutique had 1,500 gift certificates outstanding, which had been so...

A: Hi student Since there are multiple questions, we will answer only first question. 

Q: 2. Consider "Optimal Taxation Theory" a) What is its objective? b) Summarize the main principles in ...

A: The study of creating and executing a tax that optimizes a social welfare metric under economic limi...

Q: . Nectarine Company lost most of its inventory in a fire in December, 2021, just before the year- en...

A: The question is related to calculation of loss as a result of fire. We will first calculate the gros...

Q: Muskoko Inc. purchased a property for $1.800,000 in 2022. The carrying value of property was $1,500,...

A: Correct option: B. Impairment loss of $ 250,000 Incorrect options: A. Impairment gain of $ 550,000 C...

Q: Current Attempt in Progress During January 2022, Concord Corporation paid a cash dividends of $1600....

A: A cash dividend is a payment of cash made to shareholders as proportion of the company's current inc...

Q: P19.5 (LQ.3) Groupwork (Recognition of NOL) Jennings plc reported the following pretax income (loss)...

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

Q: Based on this information can you create an Income Statment • Accounts Receivable $1,200 Accounts Pa...

A: Formula: Net income = Revenues - Expenses

Q: Crystal Company operates a customer loyalty programme. It grants programme members 10 loyalty points...

A: 10 loyalty points for every 1000 amount of groceries  Fair value of each loyalty point is P5    

Q: 14.Which of the following would be reported as inventory? A.     Land acquired for the construction ...

A: Inventory means the stock of goods in which the businessmen deals. Every company wants to maintain s...

Q: Exercise 12-5 (Algo) Trading securities [LO12-1, 12-3] Tanner-UNF Corporation acquired as an investm...

A: BONDS ARE TYPICALLY ISSUED TO RAISE FUNDS FOR SPECIFIC PROJECTS . IN RETURN , THE BOND ISSUER PROMIS...

Q: Lancelot is a dealer of household appliances. He reported the following in 2019 and 2020: 2020 | 201...

A: In accrual basis of accounting, income includes sales made during the year. Cash inflow will not be ...

Q: Banana Company uses the retail method of inventory valuation. The following information is available...

A: Using FIFO method, the goods Purchased first are to be sold first.  FIFO stands for First in First o...

Q: Assume that a relatively new company you and you group members are involved wilth has presented you ...

A: An income statement is a financial report that indicates the revenue and expenses of a business. It ...

Q: At the end of the year, the following adjustments (a)–(j) need to be made: (a, b) Merchandise inv...

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the org...

Q: Harry Potter started a Food business to be known as "Harry Delights".

A: Accounting equation is the formula to be satisfied when recording an accounting transaction. The for...

Q: . The Cherry Company's physical inventory on December 31, 2021 showed that merchandise with a cost o...

A: Correct inventory that should appear in Cherry Company's statement of financial position at December...

Q: YELLOW Company owns an office building and leases the offices under a variety of rental agreements i...

A: The Unearned revenue is the liability for the business and revenue receivable is the asset for the b...

Q: Frappe Company provided the following data for the current year: Cash sales P2,500,000 Inventory – J...

A: Cash basis of accounting considers only actual receipts and payments for the purpose of ascertaining...

Q: f subsequent events on

A: This is a Question relating to disclosure of subsequent events in the audit report and financial sta...

Q: 3. Premier Tire sells three categories of tires: good, better, and best. The good tires cost $106, t...

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: Please respond promptly:                                                                            ...

A: Introduction:- Internal control means:- Internal controls are company policies and procedures and ru...

Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materi...

A: Formula: Prime costs = Conversion cost + Direct materials

Q: Sales 60000 Variable Costs Fixed Costs 36000 20000 Earnings Before Interest and Taxes 4000 Interest ...

A: Formula: Degree of operating leverage = ( Selling price - Variable cost ) / ( Selling price - Variab...

Q: 12 000 4 000 1 nd fittings 1 000 2 000 50 000 10 000 2 30.000

A: As per rule, allowed to answer first question and post the remaining in the next submission.

Q: Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Sim...

A: Deduction- Deduction refers to the charge that is authorized to be deducted from the annual gross in...