Explain the calculation procedures for and significance of return on sales.

Q: In 2010, Stephan formed a calendar-year C-corporation. In 2017, Stephan realized that his interests…

A: Capital Gain- Capital gains are the increases in the value of an asset or investment over time.

Q: The traditional way of preparing a balance sheet is to list all assets in the order of their: A)…

A:

Q: In the month of June, Jose Hebert's Beauty Salon gave 3,800 haircuts, shampoos, and permanents at an…

A: Formula used: Contribution margin = Contribution margin per unit x Number of Haircuts

Q: C irst thing you writ along with the ab: elect one:

A: The overall purpose of Dissertation introduction is to explain the reader about what has been…

Q: What is a double-entry bookkeeping system?

A: The accounting is a process to classify the transactions, record the transactions and prepare the…

Q: Problem 27-3 (IAA) At the beginning of current year, Definite Company acquired the following assets:…

A: Depreciation:   It is the reduction in the value of the asset over the period. This includes normal…

Q: Describe business activities that affect a firm’s cash flow.

A: The cash flow statement is a financial statement which is prepared to record the cash flow from…

Q: A pair of twins were given $20,000 on their birthday in 2020.  One twin purchased a car for $20,000…

A: When car is purchased then it is recorded as fixed asset and depreciation is charged every year on…

Q: 7. A measure of the Company's long term debt paying ability is   Select one: a. Dividend payout…

A: Ratio analysis means where the various ratio can be found out with different name and meaning and…

Q: Arco Steel, Inc. generated total sales of $45,565,200 during fiscal 2010. Depreciation and…

A: EBIT: EBIT means Earnings before interest and tax. It is also referred to as Operating income, and…

Q: This question is from part B. a. The going rate on student loans is quoted as 8 per cent APR. The…

A:

Q: Anna and Ben formed a partnership. Anna contributed cash of P786,000 and office equipment costing…

A: Anna's capital immediately after partnership formation will be total assets contributed by Anna at…

Q: An

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Q: Which of the following is not one of the things that manager can do to reduce the capital ratio…

A: Paying out higher dividends to stockholders.

Q: How many common shares are unissued? 5. How many common shares were re-acquired by the company? 6.…

A: Given in the question: Authorized Preferred Number of stocks = 2,000 Authorized Common Number of…

Q: Why are fixed assets depreciated on a firm’s balance sheet?

A: The balance sheet reflects the financial position of a business entity by disclosing its resources…

Q: ound solutions to part (1), part (2), and part (3). SOLUTION REQUIRED: PART (4) - Prepare a March…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: How much is May's new capital after the admission of Julie?

A: When two or more people come together to share all profit and losses is known as a partnership. A…

Q: Niles

A:

Q: Last year, Toby's Hats had net sales of $45,000,000 and cost of goods sold of $29,000,000. Toby's…

A: Introduction: Average accounts receivable: Sum of both Beginning and ending accounts receivables…

Q: udes the following Azure a tancy mobile cover trader has shown an amount of 15,6/0 in his books of…

A: Organisation makes statement of cost consist of various expenses like selling, distribution,…

Q: May and Jun are partners with profit and loss ratio of 40:60 and capital balances of $600,000 and…

A: Total share = 100% Julie share = 20%

Q: An acquiring company pays $45 million in cash, and issues new no-par stock with a fair value of $75…

A: Introduction: Goodwill is recognized when the purchase price is more than the total fair value of…

Q: What are Fixed assets?

A: The assets are classified as current assets and fixed assets. The current assets are the assets…

Q: What mathematical relationship is used among proprietary account balances?

A: Answer:-  Mathematical relationship meaning:- A mathematical relationship in the general term can be…

Q: Please provide answer to questions a to c

A: Introduction: Shareholders equity represents owners' equity i.e. amount of claim for the…

Q: Problem 27-10. (AICPA Adapted) On January 1, 2020, Domino Company purchased a new machine for…

A: Depreciation: It is the reduction in the value of assets due to to its continuous use. The assets…

Q: On November 30, the company's finished-goods inventory, which is evaluated using the first-in,…

A: Work in progress  Opening Balance of raw material and purchased Parts = $6,68,000 In the month of…

Q: n the MJ Partnership, May's capital is P140,000 and Jun's capital is P40,000. They share income in a…

A: Current Capital Balance of May is P 140,000 and Jun is P 40,000. On the admission of Julie to the…

Q: Which does not belong to the group?   Titling costs Survey costs Architectural fees Assessment…

A: There are many types of costs and fees which are incurred when an asset is purchased or amount is…

Q: Activity Rates Zapato Company produces two types of boots: vaquero and vaquera. There are four…

A: Activity-based costing is a method of allocating indirect costs to the different departments. These…

Q: PROBLEM 3 A comparative balance sheet for Rocker Company appears below: ROCKER COMPANY Comparative…

A: Statement of Cash Flow - Cash Flows Statement shows the movement of cash for the financial year.…

Q: Choose which option (Option 1- Option 3) was used to calculate the contract cost for any number of…

A: Contract costing is a part of job costing. It refers to the determination of costs related to a…

Q: Harvest Inc. produces and sells a single product. The selling price of the product is $200.00 per…

A: Formula: Break even units = Fixed cost / Unit Contribution margin.

Q: Using the MACRS three-year table, how much will a $1,000 cell phone be worth after 2 years (the book…

A: Answer:-  MACRS meaning:- MACRS is the acronym of the the modified accelerated cost recovery system.…

Q: On October 31, the stockholders' equity section of Cullumber Company consists of common stock…

A: Balance Sheet: The assets, liabilities, and shareholder equity of a firm are all reported on the…

Q: COST ACCOUNTING - Process costing. Compute for the equivalent production of the following cases…

A: Process costing refers to an accounting system which is used by manufacturing companies who are…

Q: 7. The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a a. debit to Sales…

A: Terms 2/10 means if the Buyer made the payment within 10 days from the date of invoice then 2%…

Q: The following is select account information for August Sundries. Sales: $850,360, Sales Returns and

A: Formula used: Gross margin = ( Gross profit / Net sales ) x 100

Q: should the units completed be 50,000 or 51,000?

A: In the context of the given question, we are required to compute the equivalent production units.…

Q: Net Sales Revenue Cost of Goods Sold Average Inventory 2017 $ 5,430 4,100 765 2018 $ 6,080 4,580 880

A: Formula: Inventory turnover ratio = Cost of goods sold / Average inventory Division of Average…

Q: Susan owes $2,400 to Fancy Flowers for arrangements purchased last week. For Fancy Flowers, the…

A: The account receivables tells about the amount due to be received from customers.  The account…

Q: d 25,000 shares at P22 per share. d 1,000 shares for legal service when the d 5,000 shares for a…

A: Share premium refers to the sum value of money received by a company over and above the actual par…

Q: Explain why accurate accounting information and audited financial statements are important.

A: Accounting- Accounting is the process of collecting unorganised information, analysing it, arranging…

Q: Wok of Fame, Inc., makes and sells woks at a price of $5.00 per unit. Variable cost is $3.00 per…

A: Contribution margin ratio = ($5.00 - $3.00) / $5.00 Contribution margin ratio = 40%

Q: Norr and Caylor established a partnership on January 1, 2019. Norr invested cash of $100,000 and…

A: Partnership: Partnership is an entity where minimum of two individuals agrees to carryover the…

Q: . On January 1, 2021, Bean Counters Co. issued a $10 million, 8%, nine-year convertible bond with…

A: Initial measurement: 8% Convertible bonds = $9,400,475 Equity component = Issue proceeds -…

Q: Define the term cash flows.

A: The cash flow statement is prepared to record the cash flow from various activities of the business.

Q: What company is better in short term investment?

A: Answer:-  Investment meaning:- An asset or object purchased with the intention of generating income…

Q: Anna, Ben, and Carl's partnership did not go well so the partners decided to liquidate on March 31,…

A: The partnership comes into existence when two or more persons agree to do the business and further…