How do you design a fraud prevention programme?
Q: The motor on a gas-fired furnace in a small foundry is to be replaced. Three different 15-horsepower...
A: Costing- It is the branch of accounting concerned with calculating the total and per-unit cost of pr...
Q: Review the treasurer's analysis, identifying any questionable aspects and briefly comment on the app...
A: A treasurer is a person who manages and administers the financial assets and liabilities of a compan...
Q: Happy, Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Happy, Inc. produc...
A: Variance is considered as the difference between budgeted value and actual results. The management u...
Q: P21.3 (LO 2) Groupwork (Lessee Entries and Statement of Financial Position Presentation) Ludwick Ste...
A: Solution A journal is a company's official book in which all business transaction are recorded in ch...
Q: Q1.)Why do you think an industrial partner does not share in the losses of partnership?
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...
Q: Ali Inc. produces a product requiring 8 pounds of material at P1.50 per pound. Ali Inc. produced 10,...
A: Direct Material quantity variance = (Actual quantity used - Standard quantity allowed)*Standard rat...
Q: A project requires an initial investment of $170,000 and has a project profitability index of 0.350....
A: Profitability Ratio The Profitability Index (PI) measures the ratio between the present value of fut...
Q: Harmony, a citizen and resident of the Philippines, married, died, leaving the following properties:...
A: Correct option is p450,000.
Q: An animal shelter plans to sell T-shirts bearing their logo at an upcoming crafts fair. They find a ...
A: Cost of inventory = Cost of purchase + Cost of logo printing + Cost of freight in
Q: 29. The Cash Receipts Journal of the X & Y Co shows the following accounts and account balances: Sal...
A: A cash receipts journal is a type of journal that is used to record cash that a company receives fro...
Q: Presented below are selected ledger accounts of Oriole Corporation as of December 31, 2017. Cash ...
A: An income statement is the one prepared by the company to determine the company's financial performa...
Q: x and y are partners who share profits and losses in a ration of 2;1 with capital balances of 800k a...
A: Answer) Calculation of amount to be credited to Capital Account of B Amount to be credited to Capita...
Q: Match each phrase with its definition. 1. Seller's description of a cash discount granted to buyers ...
A:
Q: Pedro paid pepito 500k from the 1.2m adjusted total capital of the partnership if pepitos capital ba...
A: If total Adjusted Capital = 1,200,000 And Pepitos Capital Balance is 450,000 And Pedro paid = 500,00...
Q: A. Income Statement B. Retained Earnings Statement E. Batance Sheet(simpte unelassified) Adjusted Tr...
A: Formula: Net Income = Revenues - Expenses.
Q: The standard quantity allowed for the units produced was 4,500 pounds, the standard price was P2.50 ...
A: Standard quantity allowed for actual production =4500 pounds Standard quantity per unit = 1 pound
Q: company, had the following receipts in January 2022: Receipts from passengers, P2,700,000 Receipts ...
A: Calculation of Total Input VAT Available Particulars Amount Input VAT on gasoline P50,000 ...
Q: 2010: Russia and Ukraine became partners. 2016: Capital, ending was 200,000 and 300,000 respectively...
A: Ending capital = Beginning capital + Additional investment - Withdrawal Average capital = (Beginning...
Q: Joyous Company purchases 12,000 pounds of materials. The materials price variance is P6,000 favorabl...
A: Direct Material price variance = (Standard price per pound - Actual price per pound)*Actual quantity...
Q: Financial audit Q&A Auditors also need to consider the subjective needs of users of financial statem...
A: Auditing involves an independent examination of financial records of an entity with a view to provid...
Q: The standard cost sheet for Chambers Company, which manufactures one product, follows: ...
A: Variances will be considered favorable if actual performance is better or meets standards and unfa...
Q: BUSINESS TRANSACTIONS FOR ACCOUNTING PROCESS In December of the current year, the following transact...
A: 1. Income Statement 2. Balance Sheet 3. Statement of Cash Flow The first statement shows the income ...
Q: P21.6 (LO 2, 3) (Lessee-Lessor Entries, Lease with a Guaranteed Residual Value) Glaus Leasing AG agr...
A: the present value of the minimum lease payment is simply the sum of all of the lease payments that a...
Q: The XYZ Partnership shows a net profit of P600,000 during the year. If partners X, Y, Z has income r...
A: Given, Net Profit = P600,000 Income of X, Y and Z = 50%, 30% and 20% Z's share from the net income o...
Q: On July 1, 2020, Major Ltd. pays £15,120 to Orlow Insurance for a 3-year insurance contract. Both co...
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized i...
Q: income statement based on a sales volume of 1,000 units (the relevant range of production is 500 uni...
A: The operating leverage is calculated as contribution margin divided by EBIT.
Q: 8. The X & Y Partnership earned P500,000 this year. TI balances, and share profit and losses 1:3. Pa...
A: Two or more individual comes together for a mutual motive usually this motive is for profit-making b...
Q: missal and the legal counsel determined that it is remote that SBMA will become liable in a reliable...
A: 1) P2000000x50% = P1000000 P 5000000 x 30% = P 1500000 P 10000000x 20% = P2000000 ...
Q: Which of the following is not an advantage of the corporate form of business organization? a) unlim...
A: Introduction:- Corporation is a Legal entity. Shareholders are the owners of the organisation.
Q: Income from financial leasing (remaining maturity of the instrument is more than 5 years), P3,000,00...
A: A gross receipts tax is a tax levied on a company's gross sales after deducting business expenditure...
Q: 2 Purchased $5,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated A...
A: The journal entries are prepared to record day to day transactions of the business.
Q: which of the following areas would an internal audit be required to have proficiency when carrying o...
A: Internal auditor be required to have proficiency when carrying out an audit of corporate governance ...
Q: In June of the current year, Department 2 (last department) received 80,000 units from Department 1....
A:
Q: PA2. LO 6.1 Record journal entries for the following transactions of Barrera Suppliers. A. May 12: S...
A: The procedure of entering commercial transactions for the first time in the books of accounts is kno...
Q: K Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000, re...
A: The partnership comes into existence when two or more persons agree to do the business and further s...
Q: Following is relevant information for Snowdon Sandwich Shop, a small business that serves sandwiches...
A: Contribution margin = Sales - Variable costs Net Operating Income = Contribution margin - Fixed cost...
Q: Financial information that is capable of making a difference in a decision is a) relevat b) faithful...
A: Fundamental qualities of financial information should be: 1. Relevance 2. Faithful representative.
Q: A, B and C formed a partnership on June 1, 2019. A is an industrial partner while B and Care capital...
A: Profit or loss from partnership business should be shared between the partners in their profit shari...
Q: Bourne Company provided the following selected transactions related to contingencies. The fiscal yea...
A:
Q: A and B entered into a partnership on April 1, 2020 by investing the following assets: A - Cash P30,...
A: The partnership comes into existence when two or more persons agree to do the business and further s...
Q: Pharoah Corporation issued 117,000 shares of $19 par value, cumulative, 7% preferred stock on Januar...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: A business owned by A1 was short of cash and she decided to form a partnership with A2, who was ...
A: The fair value of net assets of A1 is P 761,000. The cash contribution of A2 will be 1.50 times of f...
Q: Interest income on municipal governmental bonds $ 92,000 Depreciation claimed on the 2021 tax return...
A: Tax is an amount that is charged by the government from the individual and organization on the incom...
Q: Figure out what the Cost of Goods Sold is for the order placed for FIFO LIFO and We...
A: 1. FIFO Method - Under FIFO Method, Inventory purchased first is sold first. 2. LIFO Method - Under ...
Q: XYZ Inc. manufactures a component D12, and two main products F45 and P67. The following details rela...
A:
Q: Because of concern for the uncertainties of the CD reorder business, how would I provide analyses s...
A: Net Present Value=(Present Value of Cash Inflows-Present Value of Cash Outflows)
Q: QUESTION 7 On April 1, 2020, Balboa Company invests $50,000 in a 6-month CD that pays an annual inte...
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized i...
Q: Ken Hensley Enterprises, Inc., is a small recording studio in St. Louis. Rock bands use the studio t...
A: answers a. In the books of Ken Hensley Enterprises Inc. : Adjustment Account Titles Debit Cred...
Q: Oslo Company prepared the following contribution format income statement based on a sales volume of ...
A: The net income is calculated as difference between sales and total expenses incurred. The total expe...
Q: Direct Labor 180 Factory overhead, included P10 allowance for spoilage 180 Final inspection reveale...
A: Cost of production(COP) refers to material, labours and overheads incurred during production.
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