Explain the difference between pooling of interest and purchase method of accounting for amalgamations.

Q: needed, state the registr ts where the transaction ed.

A: The journal entries in the given question are made as follows:

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Q: Net Income and Retained Earning:

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Q: uary 1, 2019, that originally cost $150,000 is being depreciated on a straight-line basis over an…

A: The Correct Answer is option d.($13,875) Depreciation charged under original life for 2019 and 2020…

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

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A: Contribution margin per labor hour=Sales price per unit-Variable cost per unitLabor hours per unit

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A: S corporation refers to the kind of corporation which accomplish particular IRC (Internal Revenue…

Q: 26. Consider a firm that uses labor (L) and capital (K) to produce output. Which of the following…

A: (a) The firm views L and K as close substitute in production is correct.

Q: Android Bank makes new consumer loans totalling £100m, crediting the amount to its customers'…

A: Net worth means all value of assets held by entity less all value of liability held by entity.

Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…

A: Introduction: Net income: Net income is shown in income statement. In income statement all revenues…

Q: Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at…

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Q: Flora Company presented the following information pertaining to accounts to be adjusted. 1. On July…

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Q: A certain machinery costs P 50,000, last 12 years with a salvage value of P 5,000. Money is worth…

A: Sale price has to be equal to 9280.67

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A: Predetermined Overhead Rate=Budgeted cost / Budgeted Labor hours Applied overhead for the…

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A:

Q: On 30 June 2022, Happy Ltd purchased machinery for its fair value of $41 600 and then leased it to…

A: Answer: As we consider the above given  question , we must prepare journal entries in Laugh Ltd's…

Q: The amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity…

A: Solution: Standard hours for actual production = 2200*2 = 4400 per hour Predetermined overhead rate…

Q: n evaluating investments, we are only interested in measuring cash flows when they actually occur,…

A: In capital budgeting we evaluate various proposals on the basis of cash flows that will occur in…

Q: Kristen Lu purchased a used automobile for $11,450 at the beginning of last year and incurred the…

A: The variable costs are generally most important for making any decision or choosing an alternative…

Q: If fixed costs are $246,000, the unit selling price is $120, and the unit variable costs are $71,…

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Q: product produced by Rosalyn Company over the last 6 months: Units Produced 30,000 42,000 40,000…

A: Solution: Under high low method, higher level of activity and lowest level of activity is compared…

Q: On March 25, 2020, Blue Steel co. purchased a new extrusion machine for Php 3,344,015 with an…

A: Formula: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) /…

Q: Journalize the following transactions using the direct write-off method of accounting for…

A: Journal entries are the basic method for recording financial transactions in the books of accounts.…

Q: Can a farm business be solvent but not liquid? Liquid but not solvent? Explain your answers.

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Q: SM Department store sells gift certificated, redeemable for store merchandise that expires one year…

A: Gift means the product given free of cost to the customer on fulfilling the certain conditions. It…

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Q: RDJ Berhad believe

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Q: Jenny's personal car was totally destroyed in a hurricane in 2021, the area was declared a Federal…

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Q: pension expense fo

A: Pension refers to the income which is received at the time of retirement as an income source…

Q: Candy Candles (Pty) Ltd "Candy Candles" is a retailer of candles in Johannesburg. Candy Candles uses…

A: Under Perpetual inventory system Purchase Account is not maintained and all Purchase are debited to…

Q: ameter capturing technology

A: Given as, Y= z.f (K, N, L)

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Q: Delores Enterprises uses weighted-average process-costing to value production. At the end of the…

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Q: Use the following information for the Exercises below. (Algo) [The following information applies to…

A: Answer 2-a) Calculation of Debt to equity Ratio Debt to Equity Ratio = Total Debt/ Total Equity…

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Q: Cash received electronically through an electronic funds transfers (EFT)

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Q: s identifie

A: The effects are discussed as,

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Q: 220,000 is evidenced by an executed corporate note. alaries of $20.000, $100,000, and $140.,000…

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

Q: Do the networth and networth ratio reflect whether the farm is earning or not? Explain fully

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Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…

A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…

Q: er $24,000 in points. On September 1 of the current year, the Devons refinanced their $650,000…

A: The Income Tax Return (ITR) is a form that must be filed with India's Income Tax Department. It…

Q: The draft balance sheet of Four Corporation as of December 31, 2020 reported the net property, plant…

A: 1. Warehouse details   Particulars  Amount (P) Material  150000 Labour  800000…

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Q: If the value of Android Bank's assets falls by £226m, Android Bank will be insolvent. Select one:…

A: Insolvent means a financial distress, when person or entity unable to pay its debts. When total…