gross profit variance analysis is most correct?

Q: (a) Complete the aging schedule. Number of Days Accounts Estimated % Total Estimated Outstanding Rec...

A: Formula:-  Total estimated uncollected Accounts = Account Receivable × Estimated % uncollectible.  

Q: Most home insurance policies cover jewellery and silverware for a limited amount unless items are co...

A: Amount not covered=Stolen Worth-Total Claim

Q: During the next four months, a furniture manufacturer will be entering its holiday season. Managemen...

A: The annual percentage rate seems to be the cost of credit, expressed as a percentage, over a year. T...

Q: Bulldogs Inc. uses Additional Funds Needed as a plug item. If the company had forecast its additiona...

A: Lets understand the basics. Retention ratio is a ratio which shows how much percentage income is lef...

Q: Exercise 8-50 (Algo) Job Costing and Process Costing (LO 8-7) Coastal Cycles makes three models of e...

A: The correct answer for the above mentioned question is given in the following steps for your referen...

Q: Bulldogs Inc. had credit sales last year amounted to P18,600,000. The firm also had an average accou...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: What type of capital is accounts receivable? Group of answer choices Human. Intangible Physical. Fin...

A: Accounts receivables are the current assets of an entity. These can be converted into cash within a ...

Q: Bulldogs Inc. loaned a certain amount from a reputable bank for a term of one year at 8% quoted rate...

A: Calculation of Effective rate of interest  EIR = Interest / usable fund x 12/12         = 33200 / 37...

Q: arent Corporation issued on March 31, 2021 500,000 shares of its P10 par ordinary shares, P40 market...

A: Purchase consideration paid to subsidiary A = Number of shares issued by parent x Fair market value ...

Q: You were assigned to audit the Property, plant and equipment account of your continuing audit client...

A: Office Equipment was acquired at the beginning of 2019. Depreciation on Straight-line method with no...

Q: On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amo...

A: Loan proceeds = Face value of the Notes - discount amount where, discount amount = Face value of the...

Q: Gladstone Company issues 114,000 shares of preferred stock for $38 a share. The stock has fixed annu...

A: Solution..   Number of preferred shares = 114,000  Par value per share = $9  Rate of dividend = 9% 

Q: Jan has a 35% marginal tax rate and has already recognized a STCL of $12,000 and a LTCG of $10,000, ...

A: Irrespective of the marginal tax rate, capital gain tax rate on collectibles/ antiques is 28%. 

Q: Catalina Corporation begins the year with a $195 balance in Retained Earnings and a $320 alance in C...

A: Stockholder equity includes number of outstanding shares ,retained earning and additional common sto...

Q: P Company issues Php500,000 shares of its own Php10 par common stock for the net assets of S Company...

A: In  case one company overtake the assets and liabilities of another company , then accounting for am...

Q: Bulldogs Inc. had credit sales last year amounted to P18,600,000. The firm also had an average accou...

A: Solution.. Credit sales = P18,600,000  Average accounts receivable = P1,380,000  Average collection ...

Q: XYZ manufactures a computer stand. It has fixed costs of $600,000 and each stand sells for $90, with...

A: Formula: Contribution margin = Sales price - variable cost

Q: Question 4 of 4 -/2 View Policies Current Attempt in Progress Maple Leaf Foods Inc. reported the fol...

A: Solution..     Net Accounts receivable  = Gross accounts receivable - allowance for Doubtful Account...

Q: On January 3, 2022, P Company acquired 70% interest in S Company for P4,200,000. Consideration inclu...

A: A non-controlling interest, also known as a minority interest, is an ownership position whereby a sh...

Q: Parent corporation issued on March 31, 2021 500,000 shares of its P10 par ordinary shares, P40 marke...

A: >Goodwill is an intangible assets. >It is generally recorded when it is 'purchased'. &...

Q: P17.7 (LO 1, 4) (Debt Investment Entries) The following information relates to the debt investments ...

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since th...

Q: 1. The data below pertains to the earnings of Peter Castro for the week ended June 30,2020. Hours an...

A: Solution Gross earning is an individual's Total earnings before taxation or other deductions.

Q: On January 1, year 1, ABC Corporation purchased 80% of XYZ Corporation's P10 par common stock for P9...

A: The question is related to Business Combination. The details are as under  ABC Corporation Share in ...

Q: Would a deep discount without underwriting be preferable to save the expense of the underwriting fee...

A: In this question , we will discuss about underwriting fees and dilution of EPS and also that it is p...

Q: Allen Inc. took out a 1-year, 8%, $100,000 loan on March 31, 2018. Interest is due upon maturity of ...

A: Formula: Interest expense = Loan Amount x Interest rate x Time period

Q: Oriole Inc is considering one of three options: (1) paying a S0.43 cash dividend, (2) distributing a...

A: Total Asset- Total assets refer to the whole amount of possessions owned by an individual or entity....

Q: The following data relate to a piece of equipment owned by Mr. Queen Company: Acquisition date – Ju...

A:

Q: On January 3, 2022, P Company acquired 70% interest in S Company for P4,200,000. Consideration inclu...

A: Solution Non - controlling interest  is an ownership position whereby a shareholder owns less than 5...

Q: On February 28, 2022, P Corp. purchased 80% of S Co.’s P10 par ordinary shares for P986,000.  On thi...

A: USING FAIR VALUE METHOD    CALCULATION OF NCI AS ON DATE OF AQUISITION   NCI (986000/80% *20% ) ...

Q: What is the journal entry to record issuance of the bonds on January 1, 2019? Dr. Cash, P500,000 an...

A: If the Bonds are issued at less then face value the the bonds are discount bonds.

Q: Apr. 1.   Paid the treasurer of the union the amount of union dues withheld from workers' earnings d...

A: Payroll Payroll is considered to be one of the important function in the business entity and to time...

Q: On November 27, the board of directors of Marin Company declared a $0.40 per share dividend. The div...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: ampierre makes brass and gold frames. The company computed this information to decide whether to swi...

A: In this question, we have to calculate allocation per unit using traditional method.

Q: Catalina Corporation begins the year with a $195 balance in Retained Earnings and a $320 balance in ...

A: Whole shareholders' equity shows either the source of a company's assets, the owners' residual claim...

Q: determine the total equivalent cost in present worth at an interest rate of 10%.

A: Total Equivalent Cost = Initial Payment + Present Value of Future Payments Present Value of Future P...

Q: Kim Locke and Mary Leigh Coker have capital accounts of $430,000 and $484,000, respectively. Jeff Do...

A: Note: Consideration paid to Locke and Coker for purchasing the share in partnership is not relevant ...

Q: 3. Which of the following is true in regards to the reassessment of the lease term? A. If the lessee...

A: IN CASE OF REMEASUREMENT OF LEASE TERM, LESSEE REASSESSES THE LEASE TERM BY REMESURING THE LEASE LIA...

Q: Requirement 1. What are the benefits of setting cost standards? Standard costing helps managers do t...

A: Solution:- Given, Bargain Inc., produced 1000 units  Direct materials was three yards of cloth per u...

Q: What is the total amount that Bryant Inc. should expense during the year (versus the company capital...

A: 1. Purchased the cost of a patent from another company for $165,500- Patent is an intangible asset h...

Q: How many are the ordinary shares outstanding after reflecting the foregoing transactions for the yea...

A: Ordinary shares refer to the equity shares of the company. Ordinary or common shareholders are techn...

Q: PHP55,000, and expected to earn a gross profit per unit of PHP10,000. At the end of the month, after...

A: Sales Price Variance = ​(AP − SP)× Units Sold   Actual units sold = 1000 + 100 =1100 units  Expected...

Q: QUESTION 1 The following is the Trial Balance of Sonia HR Enterprises, a dealer in HR Software, as a...

A: The income statement and financial position is given as,  

Q: Bulldogs Inc. currently fills mail orders from all over the country and receipts were received in it...

A: Introduction:- The following basic information as follows under:- Particulars Amount Average ac...

Q: Rob Rote, the president and CEO of RRR Waste Management, was recently hospitalized, suffering from e...

A: Business Ethics: Implementing proper corporate rules and procedures in the face of potentially conte...

Q: After taking business classes, Jake, an avid dog-lover, decided to start selling unique pet supplies...

A: The expenses amount which remains stagnant with changing level of production are called fixed expens...

Q: Subsidiary Company was merged with Parent Corporation on December 31, 2021. In the business combinat...

A: Retained earnings immediately after the combination is P4,035,000. Explanation:

Q: Korn Company purchased land, land improvements and building from Intouch Company for P28.8M and furn...

A: The process of recognising, aggregating, and allocating expenses to specific cost items is known as ...

Q: Catalina Corporation begins the year with a $195 balance in Retained Earnings and a $320 balance in ...

A: Stockholder's equity comprises of common stock and retained earnings balance.

Q: Z Ltd.has provided depreciation as per accounting records740 lakhs but as per tax records 760 lakhs....

A: Introduction:- Differed tax asset/Liability arises where The difference between taxable income and a...

Q: Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cas...

A: Average amount of account Receivable = Days of sales outstanding x Sales / 360 Days of Sales Outstan...