In a decentralized accounting system, a company that gives a manager responsibility over revenues, costs, and investment in assets is organized as what type of responsibility center?   Group of answer choices cost center profit center investment center none of these

Q: 2) A restaurant purchases chicken breast four times each week and conducts an inventory weekly. The…

A: In weighted averages, each number is assigned importance (or weight). A weighted average could be…

Q: Exercise 5 (Equivaler A company produces three similar products (A, B, and C, respectively) whose…

A: Please note that it would be appropriate if we find out question 3 first, then question 1 and…

Q: The value of the sinking fund needed in order to replace the machinery. The monthly payments that…

A: It becomes very difficult for a Business Entity to replace its assets immediately, when the…

Q: Beyer Company is considering the purchase of an asset for $240,000. It is expected to produce the…

A: calculation of payback period are as follows

Q: A company sells two types of products: standard and deluxe. It prepares the following analysis…

A: An organization's activities are identified using the activity-based costing (ABC) technique, which…

Q: Q.3. Dunkel Ltd. started a factory in Navi Mumbai on 1st April 2013. furnished about its activity…

A: Answer to question number 3 Only this question can be answered as complete and understandable…

Q: Post the November transactions to the T-accounts and compute the balance in the accounts at the end…

A: A job Costing System is a costing system where work is assigned to an individual and the costs are…

Q: Is ABC Manufacturing is properly using the budget process to plan for next year's expenses? You have…

A: The budget can be defined as the process of estimating revenues, expenses, and income. The budget is…

Q: Marvel Parts, Incorporated, manufactures auto accessories. One of the company’s products is a set of…

A: Variance means the difference between the standard and actual costs. In other words, the variation…

Q: The receivables turnover ratio is a measure of: Multiple Choice O O O Asset value. Profitability.…

A: Introduction: Receivables turnover ratio The receivables turnover ratio evaluates the effectiveness…

Q: QUESTION 8 Which of the following about a business proposal is FALSE? An effective business…

A: Note: As per the Policy, We’ll answer the first question since the exact one wasn’t specified.…

Q: 8 Clothing Emporium was organized on January 1, 2021. The firm was authorized to issue 100,000…

A: Introduction: Paid-in capital is the total quantity of cash or other assets granted to a company by…

Q: The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation…

A: It is given that - 2 partners are retiring and the partnership is terminating.  also, the balance…

Q: Lynch Company manufactures and sells a single product. The following costs were incurred during the…

A: Lets understand the basics. In variable costing, product cost is calcualted by adding all the…

Q: Cash Accounts receivable Inventory Equipment Total Accounts payable Payable to B 80,000 240,000…

A: Partnership is a firm is legal entity where partner share profit or loss according to the firms deed…

Q: . The following information relates to a retail company for the year ending 31 December Budgeted…

A: Margin of safety=Budgeted sales revenue-Breakeven sales revenue

Q: Show complete solution: Consider the following options in purchasing a car:   Option 1 = purchase…

A: Calculation of which option are more economical are as follows

Q: Crompton produces a product that sell at wholesale for 2.60 per unit. Budgeted production in both…

A: Operating income can be calculated where the sales of the company was subtracted with variable…

Q: Journalize Apr. 30 Aug. 30 the following, assuming a 360-day year is used for interest computations:…

A: Journal Entry: A Journal entry  is the demonstration of keeping or making records of any exchanges…

Q: Conduct a vertical analysis from the Balance Sheet below and select the INCORERECT observation

A: Vertical Analysis is a technique through which various figures of assets and liabilities are…

Q: A company has beginning inventory for the year of $11,000. During the year, the company purchases…

A: Cost of goods sold = Beginning inventory + Net purchases + Direct expenses - Ending inventory

Q: Required: For each of the following scenarios, determine if a separate contract is created by the…

A: Accounting modification in a contract depends upon two factors Distinct Performance Obligation…

Q: Contrast the concept (how they are similar or different from each other) Illegal appropriation vs.…

A: Answer:-  Illegal appropriation vs. corruption similarity:- Both the illegal appropriation and…

Q: Standard Cost Journal Entries Bellingham Company produced 5,300 units that require five standard…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain…

A: Journal Entry: It is  the prime entry for  keeping or making records of any transactions either…

Q: Cavy Company estimates that the factory overhead for the following year will be $2,034,500. The…

A: Predetermined overhead rate = $2,034,50031,300 hours = $65 per hour  Applied overhead = 2,830 hours…

Q: State the journal entries necessary to record the assignment of direct materials, direct…

A: Process costing is a method used for the manufacturing industries that produce a single product and…

Q: O Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has…

A: Bonds - Bonds are issued by the company as debt. It carried fixed rate of interest till its…

Q: has a 12-year service life and a $120,000 salvage value, and it uses straight-line depreciation.…

A: Annual rate of return :- Annual rate of return by taking Annual profit after tax dividend by Annual…

Q: What are the accounting entries required to record sales on credit of $10,000, on which sales tax is…

A: Lets understand the basics. Journal entry is required to make to record financial event and…

Q: nding direct materials inventory $10,000 Beginning WIP inventory…

A: Direct material inventory is an asset account. Work in progress inventory is inventory which is…

Q: Oaktree Company purchased new equipment and made the following expenditures: Purchase price Sales…

A: Introduction: Accounting journal entries are used for physical payment transactions in the…

Q: termine whether each of the following accounts is an asset or a liability to XYZ nk. b.a) Cash held…

A: Assets provide future economic benefits such as cash, bonds ( investments), and home loans.…

Q: Discount-Mart issues $19 million in bonds on January 1, 2021. The bonds have a ten-year term and pay…

A: Introduction: The market rate of interest is the current rate of return on deposit accounts. This…

Q: produces two types of glass shelving: rounded edge and squared edge. The company reports the…

A: Activity-based costing refers to the type of costing method under which the company allocates the…

Q: two different depreciation methods and prepare a chart showing the effects the depreciation method…

A: Two method of depreciation Straight line method  Written down value method

Q: niversities. These alternatives include all of the following except: dopt FASB's requirements so…

A: Financial Statements : There are two main financial statement, Income Statement and Balance Sheet.…

Q: Discount-Mart issues $14 million in bonds on January 1, 2021. The bonds have a nine-year term and…

A: Introduction: A bond is a loan from an investor to a lender, such as a corporation or the…

Q: An asset group is being evaluated for an impairment loss. The following financial information is…

A: In accounting terms impairment loss deals with assets impairment where impaired value was duly…

Q: Spiderman offered, in writing, to sell Black Widow a piece of land for $200 Spiderman signed the…

A: to ask if somebody would like something or to give somebody the chance to have something. When one…

Q: Which of the following are true about bankrupt firms in reorganization? A. They may cancel their…

A: This is a multiple-choice question about bankruptcy. Which of the following are true about bankrupt…

Q: Assume bad debt expense is material to the company. Which of the following statements is correct…

A: The account receivables have debit balance and allowance for doubtful accounts is the contra asset…

Q: Question: Unlike the traditional full-absorption cost system, activity-based costing (ABC) assigns:

A: Companies always have the problem which they have to tackle very cautionary is the allocation of the…

Q: i. The Statement of Profit and Loss for the year ending December 31, 2020 ii. The Statement of…

A: This question belongs to the preparation of the statement of profit and loss and the financial…

Q: Obj. 1 PR 11-2A Differential analysis for machine replacement proposal Gutenberg Publishers Inc. is…

A: 1.   Continue with the Old machine Replace old machine (Alternative 2) Differential effect of…

Q: The following Cato Corporation transactions are for bonds that were purchased as a trading…

A: A statement of financial position is a representation of an individual's personal or corporation's…

Q: Cosy Stoves Limited is planning a major capital investment in April 2022 which requires an extension…

A: Cash Budget: It  is  the  estimation of the cash in flows and outflows  of a business over a given…

Q: Question 4 a. Business decisions rely on certain characteristics which are based on intelligent and…

A: Introduction: A business decision, also defined as an operational decision, is that any choice made…

Q: The Vigan Company included the following in its notes receivable as of December 31, 2022: Note…

A: Gain on sale of equipment would be calculated by way of deducting the carrying amount from the…

Q: indicate the cash distribution to be made to partners at the end of the liquidation process.

A: Capital Deficiency means debit or negative balance in the account of the partner. This could be due…