have retail outlets at both large shopping centres and small plazas. Their accounting information systems are able to track total revenues by store, by type of shopping centre, by size of store, by state and by region. Evaluate if such accounting information system meets the compatibility feature of an effective accounting information systems?

Q: List the three questions you posed to the entrepreneur followed by the responses.

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you.  If…

Q: . On January 1, 2021, Bean Counters Co. issued a $10 million, 8%, nine-year convertible bond with…

A: Initial measurement: 8% Convertible bonds = $9,400,475 Equity component = Issue proceeds -…

Q: Accounts payable are: Multiple Choice Amounts received in advance from customers for future…

A: The balance sheet represents the financial position of business with assets, liabilities and equity…

Q: is there a $100 need to be deducted as p

A: Adjusted Gross income refers to the total sum value of income gained by an entity after deducting…

Q: mortgage loan on the equipment of P252,000 will be assumed by the partnership. Abner is to have a…

A: Goodwill is the earnings of the entity which it earned in the form of reputation during the life of…

Q: Engr. Jeon Bassett is the owner of JBA Engineering and Design Firm. At the end of its accounting…

A: The balance sheet represents the financial position of the business with assets and liabilities on a…

Q: 21.Retained earnings

A: 21.Retained earnings Answer - All of the above

Q: What impact does this have upon the earnings quality?

A: The net income of the company means the income that remains after deducting all expenses from the…

Q: Problem 6-5A Calculate ending inventory and cost of goods sold using FIFO and LIFO and adjust…

A: Inventory refers to the stock that the company holds for the resale purpose or the good that is not…

Q: A series of cash flows are established on an account as listed below. Payment of P5,854 at the end…

A: Present Value: Given a certain rate of return, the present value (PV) of a future amount of money or…

Q: SixthZ incurred the following costs during 2018: Variable costs treehouse Manufacturing: Direct…

A: Variable Costing refers to a method of Costing where only Variable costs are considered at the time…

Q: partners who have capital balances of P1,000,000 and P800,000 and share profits 60:40 respectively.…

A: The  relationship and deed to share profit and losses ad well as risk with investment and the…

Q: ABC Corp purchased land and building at a lump price of P6M. ABC demolished the building and…

A: The costs incurred to make the land available for use is included in the cost of land.

Q: ABC Company has an equipment acquired on January 1, 2018 at a cost of P2,200,000 with estimated…

A: Given, 1/1/18 - purchased equipment worth P2200000. residual value = P200000. estimated useful life…

Q: A few years ago, Sam Gig founded Gig n Spin Consultancy Services. Sam is aware that you and your…

A: As per the guidelines, answers to the first three parts have been given. For obtaining answers for…

Q: PP operates a convenience store while she offers bookkeeping services to her clients. In 2020, her…

A: Gross sales amount, in this case, means the amount received from the total number of transactions at…

Q: SixthZ currently produces and sells 1,200 treehouses per year and sells them at $1200 per treehouse.…

A: Introduction: Operating income is the money left over after deducting operating expenses and the…

Q: Cleopatra's Boutique Inc reported net income of $73.000 for 2022 included in the income statement…

A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…

Q: Short-term notes payable: Multiple Choice O O O O Are normally categorized as noncurrent…

A: Short-term notes payable is a negotiable instrument and it is classified as a current liabilities.…

Q: Anytime fitness has two operating departments- Programming & Classes and Individual fitness. There…

A: Allocation of service department costs to operating departments Costs incurred by service…

Q: At the beginning of the year, Addison Company's assets are $256,000 and its equity is $192,000.…

A: calculation of amount of equity are as follows

Q: The University of Cincinnati Center for Business Analytics is an outreach center that collaborates…

A: Profit earned is the difference between the revenue earned and the cost incurred by the members and…

Q: High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company…

A: 1)                 Predetermined overhead rate = Estimated overhead costs / Estimated allocation…

Q: st's office. Her ince $9,125. Her tax st e claims one exem and she plans on ta

A: The person standard deduction will be filing with single status is $12,400.

Q: .   Deferred tax liability, January 1, 2022, $0. 2.   Deferred tax asset, January 1, 2022, $0. 3.…

A: >Due to certain factors, there exists a difference between Pretax Financial Income and Taxable…

Q: a) Danny had a taxable income of $126,500. How much federal income tax should he report? (assuming…

A: The federal tax means the amount of tax paid by the taxpayer on his taxable income. The tax on…

Q: On May 1, 2022, FDN Trading accepted a 120-day, 8% P60,000 note from ABC Co. 30 days after, FDN…

A: Let's understand some basics  Notes are usually discounted with recourse, when it is discounted with…

Q: Please provide answer to questions a to c

A: Introduction: Shareholders equity represents owners' equity i.e. amount of claim for the…

Q: The following items were found in the statement of financial position of Hong's Fitness Gym: Cash,…

A: Old Total assets = Cash + Supplies + Gym Equipment + Accounts receivable + Office furniture =…

Q: James corporation started his business as a sole trader January 1 2015. From the following figures…

A: Inventory Valuation on perpetual basis involves valuing the inventory in terms of cost at the time…

Q: a) Construct a Cash Budget for Sweet Royale Inc. for the third quarter of 2023. b) Comment on the…

A: Based on the information given, we have calculated, the cash sales, collection from credit sales,…

Q: Illustration 1. Share-for-share exchanges On January 1, 2022, Frank Co. and Richard, Inc. combined.…

A: A business combination is a process wherein the acquirer (who purchases the stake) takes ownership…

Q: The Tax Code provides that an international carrier doing business in the Philippines shall pay a…

A: Taxes: Taxes are the obligations levied on the varied taxpayers every year in respect of their…

Q: Chou Company has a net income of $52,000, assets at the beginning of the year are $259,000 and…

A: Return on assets indicates profitability rate on the bases of assets. It can be calculated by…

Q: Jenna paid foreign income tax of $3,194 on foreign income of $15,968. Her worldwide taxable income…

A: Foreign Tax Credit: The foreign tax credit is a tax credit offered by the United States government…

Q: a taxpayer’s spouse died on march 31, 2020. he has no qualifying child. which status should the…

A: Tax refers to the amount charged by the government to the individuals and organizations on the…

Q: View Policies Current Attempt in Progress On July 1, 2022, Blossom Co. pays $12.000 to Nash's…

A: A record is typically kept in the general ledger, but it can also be kept in a separate account,…

Q: May and Jun are partners with profit and loss ratio of 75:25 and capital balances of P480,000 and…

A: Admission of New Partner: One of the primary motivations for a company's search for new business…

Q: On January 1, 20x1, DEVIOUS CROOKED Co. purchased the following assets and decided to depreciate…

A: Introduction: Under composite depreciation method, different assets with different life are…

Q: nd Carl invested P300,000 each, in a partnership. They share in the profits as folla % interest on…

A: Carl and Ben are having equal share in the profit. From the total profit we deduct interest on…

Q: bts being written off on the individual customer account but not included in the nominal ledger. You…

A: Ethics:

Q: Account Cash Equipment Accumulated Depreciation Total Assets Liabilities Income Tax Payable…

A: Descriptive analysis refers to the evaluation made on the financial statement of current and prior…

Q: At December 31, 2020, Grouper Company has outstanding noncancelable purchase commitments for 39.500…

A: Journal Entry Account titles Debit Credit Loss on Purchase Commitment 15800   Purchase…

Q: Customer Y fails to file his tax return until three months after the deadline, and his failure to…

A: Income tax:   Income tax is the tax that an individual is responsible for on their earned income. It…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: Calculate the debt-to-equity ratio. Ernst Company's balance sheet shows total liabilities of…

A: Introduction: Debt to equity ratio: Division of Total stockholders equity with Total Liabilities…

Q: True or False

A: Correcting entry: The entries which are debited or credited wrongly in the books of accounts  then…

Q: FDN Trading sold merchandise for P50,000 less 10 on terms P10,000 down payment and the balance…

A: Notes Receivable - Notes Receivable is the promissory note issued by the individual owing some…

Q: he Polaris Company uses a job-order costing system. The following transactions occurred in October:…

A: Typically, a record is kept in the ledger accounts, but can also be kept in a separate account,…

Q: At the end of the fiscal year, Big Box Depot had account receivables of $1.89 billion on net sales…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.