hey I need help with this accounting question please no online answers just short simple number answer for this. Merle Company pays $3,000 towards the amount due to the equipment purchase. The effect to Equity would be: (Type your numeric answer)
Q: Data are as follows: In year 2020, sales are 150,000 units with Selling price per unit of 10 and VC…
A: The contribution margin is calculated as difference between sales and variable costs. The operating…
Q: merchandise on account to Equinox Co., $18,900, terms F- ds sold was $13,300. merchandise for…
A: Journal entries refers to the the concept of stating the day to day activities of a business in the…
Q: Exercise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost [LO2-2, LO2-3] Newhard…
A: MANUFACTURING COST Manufacturing Cost Including all Direct Cost (Direct Material & Direct…
Q: Miller CompanyAdjusted Trial BalanceDecember 31 Line Item Description Debit Credit Cash 8,130…
A: The journal entries are prepared to record the business transactions on regular basis. The closing…
Q: CASE STUDY THE LEASE MANAGER AND RECORD KEEPER Patti Nielson recently joined the Baker Property…
A: Since we answer only up to three sub-parts, we shall answer the first three. Please resubmit a new…
Q: PSb 3-8 Calculate Federal (Wage-Bracket Method - Pre-2020 Form W-4), State, and Local Income Tax…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Activity-Based Product Costing Roberts Company produces two weed eaters: basic and advanced. The…
A: Activity Rate :— It is calculated by dividing total activity cost by total activity cost driver.…
Q: Asavela Limited holds assets with a fair value of R150 000 000 and a book value of R125 000 000 and…
A: Ownership is defined as an act by which one person becomes the lawful possessor of a property after…
Q: A downtown bar hosts a live music event in order to increase sales. When analysing the sales and…
A: Variable Cost :— It is the cost that changes with change in units. It is constant in per unit.…
Q: 1. The following balances were obtained for The Corn Barn at December 31, 2015: Direct wages Factory…
A: The manufacturing account contains details of goods manufactured and profit and loss account contain…
Q: On September 1, 2016, Bain Corp. recorded a sale of inventory to a foreign customer for 300,000…
A: Foreign exchange transaction gain=Cash received-Value on the date of sale
Q: On the attached problem. Calculate the 2021 year-end adjusted balances of Interest Payable and…
A: The interest payable is the amount of the interest due for payment but not yet paid. The interest…
Q: Rio Company pays time and a half for hour in excess of 40 hours per week. An individual is paid…
A: Employee earning is a combination of regular earning and overtime earnings. The overtime earning is…
Q: 3.A senior high school has, 5,000 students enrolled for academic year 2016-2017. Of these, 1200 are…
A: % Analysis It refers to a special kind of rates, percentage are used in making comparison between…
Q: Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories.…
A: Plant wide overhead rate :— It is the predetermined overhead rate which is used to allocate…
Q: What are the major differences in translating liabilities between the What are the…
A: liabilities The financial responsibilities of a business, such as money owed to suppliers, wages…
Q: Kikay University, a non-stock, non-profit educational institution, earned rental income worth…
A: Nonprofit educational institutions are the ones whose main objective is to inform and educate…
Q: What is the expected annual utility cost of the company if it has 150 machines, and it will use…
A: The expected annual utility cost of the company is the cost which has been estimated by the company…
Q: Louis Lippart is a fine worker in the assembly department of McClain Manufacturing. He normally…
A: Note - Idle Time does not include the time when the equipment was down because idle time is…
Q: X sent his Y P1,000 via a telegraphic transfer through the Bank of D. The bank's remittance clerk…
A: Section 32 of the NIRC defines gross income as all income derived from whatever source.…
Q: A car air conditioner system is recharged. The cost is normally $69.95 but iscurrently $48.50.You…
A: As per the given information: Cost of recharging air conditioner system - $69.95Current price -…
Q: As gyms are getting crowded by the day, you decided to invest in your own home-garage gym to squeeze…
A: The question is based on the concept of fianancial management.
Q: July 1 Purchased merchandise from Griffin Company for $10,400 under credit terms of 1/15, n/30, FOB…
A: 1. Journal Entries - Journal Entries are primary records of the transactions enter into by the…
Q: pots) Ponchard, a chain of candy stores, purchases it's candy in bulk. In a recent shipment,…
A: Profit per unit is the amount of earnings made by an entity after deducting the relevant expenses…
Q: nts) Kiwi Corp. reported gross profit of $6,090,000 for their first year of operations. If they…
A: Gross margin: Difference between the sales and the cost of goods sold is called gross margin. Gross…
Q: C and D form the CD, LLC even partnership. A contributed land with an adjusted basis of $50 and FMV…
A: According to the given question, we are required to find out the correct option from the available…
Q: Assume that markup is based on cost. Calculate the cost and sellin Note: Round your answers to the…
A: Introduction:- A mark-up is a percentage is added to the cost of a product. It is the difference…
Q: a. straight line method depreciation charge: Php 6650 book value: Php 3350 b. sinking fund method at…
A: Depreciation is the reduction in the value of asset due to normal wear and tear Effluxion of time.…
Q: 15. Grants shall not be recognized on a cash basis as this is not consistent with GAAP.
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: 2. Unconditionally Corporation estimated that the company can sell 200,000 units of a product next…
A: Lets understand the basics. For calculate charge per unit, we can reverse calculate from desired…
Q: answer numbers 12-15 with complete solution. incomplete answer will be given down vote
A: 12.Prevention cost: Quality engineering P65000 Quality circles…
Q: Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products…
A: Contribution Margin Income Statement - This statement includes Sales, Variable Cost and Fixed Costs.…
Q: Which of the following is not an accepted principle of effective budgeting? A• Flexibility B• Top…
A: Budgeting refers to the plan that an entity makes and how it is going to spend the money. The budget…
Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item…
A: FIFO Method :— It is one of the method of inventory valuation in which it is assumed that first…
Q: Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products…
A: >Under CVP analysis, the costs are classified into:--Variable cost, and--Fixed Cost.…
Q: Please answer item 20 only.
A: Let given in the question Wall Street Journal, merger and acquisition activity in the first quarter…
Q: From April 1 through October 31, Will County Highway Department hires temporary employees to mow and…
A: High low method is used to separate the fixed costs from the variable cost. It is used to determine…
Q: The following data are available for X Company: • Ave Selling price of 16 per unit…
A: The contribution margin is calculated as difference between sales and variable costs. The operating…
Q: 1. Of all the methods for evaluating the data (techniques of capital budgeting), which one do you…
A: The capital budgeting is the selection of the best projects and optimal projects based on the…
Q: Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in…
A: Total costs consist of variable costs and fixed costs. Variable costs changes with the number of…
Q: 10. Pink Company has sales of P1,200,000, fixed costs of P500,000 and a profit ofP 148,000 . What is…
A: MARGIN OF SAFETY Margin is Safety is the Difference between Break even sales or Actual Sales.…
Q: 1. Journal entries to record the above transacti 2. Cost of Goods Sold Statement for January, 2022.…
A: Journal Entry A journal entry is a record of a business's financial transactions kept in its…
Q: example disclosure/s on audited financial statements
A: IFRS 13 provides that fair value means amount received while selling an asset or amount paid to…
Q: The table below shows monthly data collected on production costs and on the number of units produced…
A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…
Q: Slack Company has cash in bank of $15,000, restricted cash in a separate account of $4,000, and a…
A: Cash is the amount which is available in form of cash in hand or cash in bank and available for…
Q: N order to buy a new car, X plans to save half of his annual salary of 100,000 at the end of each…
A: The concept of time value of money will be used here. As per the concept of time value of money the…
Q: Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products…
A: Income statement: It implies to a financial statement of the business that reflects the total…
Q: Give three example of : Assets in a Healthcare organization (name the organization you are thinking…
A: Anything which has been bought or brought into the business into and which has also been owned…
Q: The long-term liability disclosure note to the Year 2 annual report of Penguin Pilots Inc. included…
A: Businesses can issue debentures as marketable securities to get long-term funding without putting up…
Q: 1. Journal entries to record the above transactions. 2. Cost of Goods Sold Statement for January,…
A: Income Statement The income statement is a component of the financial statements created by all…
Step by step
Solved in 2 steps
- Hey I need help with this accounting homework please no explanation or answers from online just follow the instructions which says put in the number which means I need to put in the correct numbers in as my answers. Please, thank you! Clint M. Invests $30,000 into Merle Company. The effect to Liabilities would be: (Type your numeric answer) Clint M. Invests $30,000 into Merle Company. The effect to Equity would be. (Type your numeric answer) Merle Company purchased a piece of equipment for $5,000 on account. The effect to Assets would be: (Type your numeric answer) Merle Company purchases a equipment for $5,000 on account. The effect to liabilities would be: (Type your numeric answer) Merle Company purchases a piece of equipment for $5,000 on account. The effect to Equity would be: (Type your numeric answer) Merle Company pays $1,000 for this month’s rent in cash. The effect to Assets would be: (Type your numeric answer) Merle Company pays $1,000 for this month’s rent…I need help with these homework questions for accounting Merle Company pays $3,000 towards the amount owed due to the equipment purchase. The effect to equity would be: (Type your numeric answer) Merle company pays $3,000 towards the amount owed due to equipment purchase. The effect to Liabilities would be: (Type your numeric answer) Merle company pays $3,000 towards the amount owed due to the equipment. The effect to Assets would be: (Type your numeric answer) Merle company earns $9,000 from services preformed. The effect to Equity would be: (Type your numeric answer)hey I need help figuring out the numbers for these accounting homework assignments. Clint M. Invests $30,000. Into Merle company. The effect to Liabilities would be: ( Type your numeric number) Clint M. Invests $30,000 into Merle Company. The effect to Equity would be: (Type your numeric number) Merle company purchases s piece of equipment for $5,000 on account. The effect to Assets would be: (Type your numeric answer) Merle company purchases a piece of equipment for $5,000. The effect to Liabilities would be: (Type your numeric answer) Merle Company purchases a piece of equipment for $5,000 on account. The effect to Equit would be: (type your numeric answer)
- I need answers numbers for this. Merle Company pays $3,000 towards the amount due to the equipment purchase. The effect to Equity would be: (Type your numeric answer and submit) Clint M. Invests $30,000 into Merle Company. The effect to Liabilities would be: (Type your numeric answer and submit) Clint M. Invests $30,000 into Merle Company. The effect to Equity would be: (Type your numeric answer and submit) Merle Company purchases a piece of equipment for $5,000 on account. The effect to Assets would be: (Type your numeric answer and submit)Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Buy $15,000 worth of manufacturing supplies on credit2. Issue $85,000 in stock3. Borrow $63,000 from a bank4. Pay $5,000 owed to a supplier What is the net change in Total Liabilities? Please don't provide answer in image format thank youComplete the gaps in the columns to show the effects of the followingtransactions: (16)Effects upon:Assets Equity Liabilitiese.g Started a business with N$ 50000 in thebank+50000 +50000 +0a) We pay a creditor N$7000 in cashb) Bought fixtures N$20000 paying by chequec) Bought a vehicle on credit N$27500d) The Proprietor introduces another N$20000into the firme) J Katoma lends the firm N$20000 in cashf) A debtor pays us N$ 5000 by chequeg) We sell goods for N$ 20000 cashh) Paid rent N$5000 by cheque
- I have a ledger for Assets, Liabilities, and Equity. Please let me know what account the following transactions go into and if they are DR or CR. Finally could you explain when and why something is added to Equity. Thanks!1)Tracy Evans wrote a check out of her personal account to Tracy's T-Shirts for $3,0002) Tracy's T-Shirts bought a computer. The company paid $400 down and agreed to pay the remaining $1,000 balance in 30 days3) Tracy's T-Shirts bought equipment for $2,000cash4) Tracy's T-Shirts obtained a bank loan for $5,000. The company must pay loan plus 5% interest in 6 months (does this interest amount recorded in accounting if so how? Is it a Liability or part fo Equity)5) Tracy's T-Shirt bought t-shirts for $1,000 and agreed to pay the balance in 30 days (does the time or term of payment like 30 days affect how the amount is entered on the ledger?)6) Tracy's T-Shirts bought supplies for $3007) Tracy's T-Shirts sold shirts to walk in customer for $500 cash8) Tracy's…sing the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Beginning of Year: $25,000 - $19,000 Liabilities End of Year: $60,000 - $25,000 1) What is the equity at the beginning of the year? Beginning Equity 6,000 2) What is the equity at the end of the year? Ending Equity 35,000 3) If the owner contributes $5,400 and the owner withdraws $38,500, how much is net income (loss)? Net Income (Loss) 62,100 This the answers I need help with but you need all of this to answer the questions 4 If net income is $3,400 and owner withdrawals are $8,900, how much did the owner contribute (owner, capital)? Owner, Capital 5) If the owner contributes $16,200 and net income is $19,800, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 6) If the owner contributes $43,600 and the owner withdraws $1,900, how much…1. CtSha Enterprise started a new business on 1 of September 2020. You are required to record the following transaction by using accounting equation (tabular analysis format):Sept 2020 Particulars1 Owner invested RM50,000 cash to start a photocopy business.3 Owner purchased a photocopy machine costing RM1,000 cash.5 Owner withdrew RM10,000 cash for personal use.6 Owner make a loan RM20,000 from Combo Bank for the business purpose. 25 Owner paid off RM5,000 of the bank loan.26 Owner provided photocopy service for a school total RM3,000 ; then this business had received RM2,000 cash for the service whereby another RM1,000 they will pay after the photocopies complete.28 Owner paid RM500 cash for his employee’s salary, RM300 cash for utilities and RM200 cash for shop rental. 2. Calculate the missing figure:Owner Equity Liabilities AssetsRM RM RMBusiness A ? 45,000 79,500Business B 45,600 23,000 ?Business C 104,500 ? 163,700
- Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Liabilities Beginning of Year: $25,000 $15,000 End of Year: $63,000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 2) What is the equity at the end of the year? Ending Equity 3) If the owner contributes $9,600 and the owner withdraws $37,300, how much is net income (loss)? Net Income (Loss) 4) If net income is $3,900 and owner withdrawals are $6,200, how much did the owner contribute (owner, capital)? Owner, Capital 5) If the owner contributes $16,000 and net income is $19,300, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 6) If the owner contributes $43,800 and the owner withdraws $4,600, how much is net income (loss)?close Get live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward SEARCH ASK CHAT MATH SOLVER Question Mr. Y started a business with the Name YANKA INTERPRISES. The Company was stablished and duly registered at the Securities and Exchange Commission (SEC) in January 2020. The business maintains its accounting period using the calendar year.The following transactions ocurred during its business operation for the year 2020. 1. Mr. Y the owner invested an initial capital of cash, P500, 000. O0, office equipment P100, 000.00 respectively. 2. Paid rent in advance amounting toP75, 000 for the period of three (3) months. (Jan to March). 3. On October 1, Bought supplies P150,000 for 6 months on cash from A&B business ventures, the supplier. 4. Received P100,000 cash from customer for the service tendered. 5. Paid salaries to employees P50, 000 6. Paid light and water expenses for P30, 0007. Bought 3 units of computer on…The accounting equation for Goodboy's enterprises is as follows: Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000, If Goodboy's purchases office equipment on account for $12,000, the accounting equation will change to? Show Solution.