Explain why bonds are issued and identify the types of bonds?
Q: Magic Mountain accounts for revenues using the contract-based approach. It operates a ski resort in ...
A: As per IFRS matching principal when the revenue is recognised the.related expenses to be also recogn...
Q: On January 1, 20x1, Puno Inc. acquired 80% interest in Dong Company. During 20x2, Puno and Dong repo...
A: Business combination refers to the agreement or contract between two companies in which a company ob...
Q: Presto Inc. acquired 75% outstanding ordinary shares of Sun Corp. Presto regularly sells inventory t...
A: The computation of non-controlling interest in the net income of the subsidiary will be: (Net income...
Q: COMPUTE FOR DAY SALES OUTSTANDING RATIO GIVEN ASSETS Current Assets Cash and cash e...
A: The average number of days taken by a corporation to obtain payment for a sale is called days sales ...
Q: The Caribbean Industrial Producers manufactures two products, “Zinc” and” “Ply”. The following sales...
A:
Q: South Carolina Corporation has one temporary difference at the end of 2020 that will reverse and cau...
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: Determine the December 31, 2020 cash and cash equivalents amount for the 2020 statement of cash flow...
A: Cash equivalents refers to those short-term investment of the company which are easily converted int...
Q: Townson Company had gross wages of $200,000 during the week ended December 10. The amount of wages s...
A: Social Security tax payable = Gross wages × 6% = $200, 00×6% = $12, 000
Q: A draw bench for precision forming and strengthening of carbon steel tubing has a cost of S950,000. ...
A: >Accounting principle states that the cost of the long term assets (like equipment) is to be capi...
Q: Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $367,000 as part ...
A: The question requires a single journal entry for the transaction of cash paid . Cash has been paid f...
Q: Income statement preparation Adam and Arin Adams have collected their personal income and expense in...
A: Income and expenses statement in personal finance refers to the statement which comprises of all rel...
Q: 0,000 and have no residual value. If the straight-line depreciation method is used and the average r...
A: Average rate of return is the percent of return earned on the investment, It is calculated by divid...
Q: 31, 2021, Max Company committed to a plan to discontinue the fair value of the facilities was P1,000...
A: The loss from discontinued operations will include operating loss from operations and unrealized los...
Q: Problem IV Victor Company operates a branch in Cebu. Selected accounts were taken from December 31 b...
A: Branch Accounting: It is the method of accounting where separate books are maintained for each branc...
Q: 1. Alex Miller, Inc., sells car batteries to service stations for an average of $30 each. The variab...
A: Breakeven units Fixed cost / contribution per unit Contribution per unit = Selling price - variab...
Q: can you help me with D,E,F,G,and H
A: AIS termed as Accounting information system which refers to the structure that companies report, col...
Q: Discuss the Legislative Authority of VAT in Trinidad and Tobago
A: Tax Revenue: Tax revenue is the pay acquired by the public authorities through tax collection. The b...
Q: SPI Matthew Co. includes one coupon in each bag of dog fo coupons, customers receive a leash. The le...
A: Liabilities are accumulated financial obligations that result from past events that are expected to ...
Q: On July 1, 2021, Harvest, Inc., acquires 60 percent of Patricia Company for $360,000. The remaining ...
A: Introduction goodwill is considered as intangible assets that is linked with purchasing of one compa...
Q: Retained earnings balance (January 1, 2019) Plus: Net profits after taxes (for 2019) Less: Cash divi...
A: Solution Concept Closing balance of retained earnings =opening balance + net income – dividend paid ...
Q: The assets in value by $billion. (Round your response to one decimal place.) The liabilities in valu...
A: Interest is the return which a depositor or a bank gets from the amount of loan which has been given...
Q: On January 2, 20x1, Paul Corp. acquired 20% ownership interest in Simon Corp. for P1,350,000 and the...
A: Goodwill in Consolidation In the consolidation process the calculation of goodwill is the total cons...
Q: budget table. 1. XYZ Merchandising, which is engaged in the resel process of preparing its budgets f...
A: Sales Budget A sales budget is also distinct from a sales expenditure budget, which is concerned wi...
Q: t the end of November 2016, Caribbean Productions Ltd had 700 units of product BMR400 in store. For ...
A: Contribution margin per unit is the excess of the sales price per unit over variable cost per unit.
Q: On July 1, 2022, Damlen Jurado Company pays $12.000 to its insurance company for a 2-year Insurance ...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: Which of the following correctly describes the term cost driver? a.The primary factor which is corr...
A: Cost driver is the driver cause of which the cost is incurred. On the basis of this we find the tota...
Q: Hyatt Manufacturing Company reports the following balances at December 31, 2012: Sales Revenue Cost ...
A: Cost of goods sold = Opening stock + Purchases + Manufacturing overhead - Closing stock Cost of goo...
Q: Problem 6 (DuPont and Net Income) Mindanao Mining has P6 million in sales; its ROE is 12%, and its t...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: Out of 6 principles of internal control activities (i establishment of responsibility, ii. Segregati...
A: Internal Control system It is important for the business entity which has strong internal control sy...
Q: BE5-3 Prepare the journal entries to record the following transactions on Graff Com- pany's books us...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $950,000. ...
A: Depreciation under straight line method : under this method depreciation is equally charged on over ...
Q: A government entity, which is a lessee under a finance lease. recognizes an asset acquired under a f...
A: Comment- We’ll answer the first question since the exact one wasn’t specified. Please submit a new q...
Q: Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its dire...
A: Answer) Calculation of Total Manufacturing Cost Assigned to Job A-500 Amount Direct Mat...
Q: n what date does this note 3. What is the amount of interest expense in the current year and the fol...
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: Micro-business entities can use which basis of accounting
A: Micro business entities have the option to us any of the following basis of accounting in the prepar...
Q: Directions: Complete the table below. The first item has been done 101 List of Accounts Decreased by...
A: Here we are given with different types of accounts. We need to determine what type of account is thi...
Q: Required information Use the following information for the Exercises below. [The following informati...
A: Under units of production method, depreciation expense per unit is calculated by dividing depreciabl...
Q: Vertical Analysis of Balance Sheets Consolidated balance sheets for Winged Manufacturing follow. ...
A: In preparing common size balance sheet for vertical analysis, each item is represented as a percenta...
Q: A company has return on sales of 20%, income of $50,000, selling price of $10, and a contribution ma...
A: Solution.. Return on sales = 20% Net income = $50,000 Selling price = $10 Contribution margin = ...
Q: Large Company $ $ $ Net sales 379,420 Cost of sales 163,100 Gross profit Selling, general, and admin...
A: Profit margin measures how much money a firm or business activity produces by dividing income by rev...
Q: What is the function of a cashbudget? A capital budget?
A: Introduction:- A cash budget is a projection of a company's cash flows over a specific time period. ...
Q: Beginning inventory, 100 units @P1.50; purchases: Jan 24 – 300 units @P1.56 Jun 11...
A: There are various method for valuing closing stock : (a) FIFo method : In this method the goods whi...
Q: Waterway’s Vegetable Market had the following transactions during 2020: 1. Issued $50000 of par val...
A: Investing activity includes transactions related to the purchase of or sale of long-term assets.
Q: On January 1, 2017, Song delivers merchandise to Prabu for 250,000,000 Indonesian rupiah when the sp...
A: Foreign currency Translation In foreign currency translation we are using the method of spot rate an...
Q: Clara Company purchased equipment for P5,000,000 on January 1, 2021 with a useful life of 10 years a...
A: Introduction Decrease in value of assets due to obsolete and old condition this decrease in asset ca...
Q: During 2019, Genesis Co. introduced a new line of machines that carry a three-year warranty against ...
A: The question requires liability to be reported on December 31 , 2021 Warranty liability = Warranty e...
Q: 2022 Sales revenue $500,000 Cost of goods sold Gross profit Operating expenses 400,000 ? Wages expen...
A: Formula: Gross profit = sales revenue - cost of goods sold
Q: The balance in the supplies account on June 1 was $5230, supplies purchased during June were $3480, ...
A: calculation of adjusting entry amount are as follows
Q: During 2020, Maine Company Sold 50,000 boxes of hotcakes under a new sales promotional program. Each...
A: Total estimated coupons that should be redeemed = 50,000 boxes ×80% = 40,000
Q: oblem List Next Problem s of a new bug repellent is tested on 13 subjec tes, the average percentage ...
A: A Null Hypothesis refers to a concept that evaluates that there is no difference between a certain s...
Step by step
Solved in 3 steps