Glannis company sells a single product of $100 per unit. Budgeted sales units for January are 2,409 units. What would the total budgeted sales be?

Q: On January 1, 2011, Mormont Company issued 9% bonds in the face amount of P2,500,000 which mature on…

A: Premium (discount) upon issuance of bonds = Issue value of the bonds - Face value of the bonds…

Q: Question Content Area Cost of Goods Sold Budget Play-Disc makes Frisbee-type plastic discs. Each…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Myro Company leased a new machine from Myie Corp. on May 1, 2014 under a lease with the following…

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

Q: Able Company purchased a truck worth $20,000. The company paid $5,000 in cash and incurred a bank…

A: Solution (a) The option (a) is incorrect as the truck is purchased for $ 20,000 whereas in the given…

Q: Blake Department Store sells television sets with one-year warranties that cover repair and…

A: Formula: Total sales revenue = Number of units x Sales price per unit

Q: Hardin Company is a division of a major corporation. The following data are for the latest year of…

A: GIVEN   Hardin Company is a division of a major corporation. The following data are for the latest…

Q: • Bianca Capital issued 500, $1,000 convertible bonds at 103. Each bond will be converted to 10…

A: Bond retirement occurs when an organization repurchases bonds that something that previously issued…

Q: Suppose the economy is in a recession and the government is running a budget surplus. This implies…

A: budget surplus when there is more income than expenditure a surplus is indication that the…

Q: company. Aldous would like to find out what would be the worth of his Php 100,000 after 5 years with…

A: In the given question, a series of annual payment of PHP 200,000 are to be made for 3 years. The…

Q: A $2,500 par value bond matures in 20 years and has a coupon rate of 8.5%. If the market's required…

A: To calculate the price of the bond following data will be fed in excel to calculate present value of…

Q: For items 22 to 24: The Warner Company sells its only pro the variable costs amount to P21 per unit.…

A: Break even point means the situation where there is no profit no loss. It means that a point where…

Q: Bee Company's net income for 2018, 2019, and 2020 were P100,000; P145,000; and P185,000…

A: If there were any omissions, determine it pertains to an accrual or deferral of an asset or…

Q: Twilight Co. paid $2,800,000 to acquire all of the common stock of Aurna Corp. on January 1, 2022.…

A: In the preparation of consolidated financial statements, all inter-company (within the group)…

Q: Total cost per barrel $60 $117 Manufacturing overhead cost in the Mining division is 25% fixed and…

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

Q: On April 1, 2006, Naruto Company issued at 99 plus accrued interest, 2,000 of its 8% P1,000 face…

A: A BOND IS A DEBT SECURITY WHICH BORROWERS ISSUE BONDS TO RAISE MONEY FROM INVESTORS WILLING TO LEND…

Q: People with an indirect interest in a business would use report based on GAAP. TRUE or FALSE?

A: The persons including individuals and institutions have either direct or indirect interest in the…

Q: Which of the following about the days' sales uncollected ratio is false?

A: Days sales uncollected is a Liquidity ratio that is used to determine number of days befire…

Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms…

A: Introduction: Journals: Each and every business transactions are to be recorded in Journals.…

Q: Use the information provided for Harding Company to answer the question that follow. Harding Company…

A: Quick ratio = Quick assets / current liabilities where, Quick assets = Current assets - Inventory -…

Q: A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED…

A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash…

Q: Illustration: ABC Co. has the following comparative information regarding its inventories 2020 2019…

A:

Q: An entertainment company has received an advance payment of $500 in December from a customer for…

A: Ans. In the given case cash is received in advance in the month of December and  service to be…

Q: Customer payments received in advance of the product or service being provided is recorded in which…

A: The company can collect advance from the customer before sale of the goods this method of collection…

Q: A company has the following information available that was used to report inventory using the…

A: Most of ending inventory is to be reported at cost index 1.06

Q: Gordon Helps and Associates Company makes two products. Information regarding one of those products…

A: Cost is the amount incurred on the making of a good. It includes the cost incurred on production as…

Q: An accounting policy requiring a corporation to capitalize any asset over $5,000 in value would be…

A: Accounting principles are the rules and guidelines that companies must follow when reporting…

Q: Which of the following describes a corporation?

A: GIVEN   the following describes a corporation is

Q: Find the capital beginning when, Additional Income = 150,000.00 Net Income = 120,000.00 Withdrawal =…

A: Capital Beginning = Capital Ending + Withdrawal - Additional income - Net income

Q: Explain two main reasons why expenses may not be deductible for income  tax/corporation tax purposes

A: Deductible expenses: These include all the expenses that are allowed to be deducted from the gross…

Q: Sunlight Growers borrows $250,000 from a bank at a 4% annual interest rate. The loan is due in three…

A: Formula: Interest amount = Principal amount x Interest rate x Time period

Q: The management of Ballard MicroBrew is considering the purchase of an automated bottling machine for…

A: Depreciation  Cost of the machine - salvage value/ useful life of the asset It is seen that there is…

Q: Rooney Company sells lamps and other lighting fixtures. The purchasing department manager prepared…

A: Inventory purchase budget: It is a budget prepared by the company for knowing the inventory needs in…

Q: When Job 117 was completed, direct materials totaled $9,518; direct labor, $14,467; and factory…

A: Formula used: Total cost = Direct materials + Direct labor + Factory overhead Summation of direct…

Q: The Atlantic Company sells a product with a break-even point of 6,167 sales units. The variable cost…

A: Introduction: Break even point: The level where there is no profit nor loss to the company for the…

Q: Which of the following ratios is a measure of solvency? Multiple Choice Total asset turnover.…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: On December 31 of Swift Co's first year, $61,000 of accounts receivable is not yet collected. Swift…

A: Net realizable value of the Accounts receivable = Ending balance of Accounts Receivable - Allowance…

Q: Hattie Company has been purchasing 40,000 units of component, Part A25 for $38.40 per unit. Hattie…

A: Under differential analysis, cost under both the options are evaluated and compared to select the…

Q: 37. How many kg of material were available for use in production? A company uses limiting factor…

A: Number  of kg of material  available for use in production is = summation of optimal production…

Q: Calculate the hourly operating cost (under average conditions) for a 180- horsepower motor grader…

A: The operating cost that those costs are incurred to run the operations of the business. The per-hour…

Q: Credits always increase which accounts? Assets, Liabilities and Common Stock Liabilities, Revenues…

A: Lets understand the basics. As per golden rule of accounting, all asset accounts and expense…

Q: Basic bank services do not include: Multiple Choice Checking. Bank deposits. Bank accounts. Cash…

A: Bank services are the services that are usually offered by banks. These are provided to attract more…

Q: During March, a firm expects its total sales to be $162,000, its total variable costs to be $95,200,…

A: Ans. Contribution margin is calculated by deducting variable cost from total sales.

Q: In packages of its products, Kristine Company includes coupons that may be presented at retail…

A: Liabilities are classified as: Current liabilities Non-Current liabilities Current Liabilities-…

Q: * The percentage tax, if operating a water system, is

A: Percentage tax rate is the tax rate which is in-fact a flat tax rate which is applied on the gross…

Q: Consider the following transactions by a corp On July 5, billed a customer for $6700 for services…

A: Answer is option d) No effect.

Q: Define the following concepts: a)Prime cost    b) Non production cost         c)Total cost

A: The term cost refers to the monetary value of expenditure for raw materials, technology, supplies,…

Q: Summa Company revealed the following account balances on December 31, 2020: Accounts payable…

A: An income statement is a declaration of the organization's revenue and costs that results in a net…

Q: Explanation it correctly Q)Which of the following interest rates is usually the highest? Multiple…

A: Interest rate is amount charged by lender which can either be banks, sellers, government, agencies…

Q: Is there a financial impact on the total cost of the project, and if so, how much of an impact? The…

A: NOTES: Duration= 12months, Regular employees =7, Rate = 51 per hour, overhead rate = 150%, Working…

Q: as $93,000 a adjustment or years. If th an they contr

A: GIVEN  taxpayer's earned income $93,000 pension adjustment  $7,000