How much gain sh

Q: Chevy Co mpany owns 50o% of another entity's preference share canital and 40% of its ordinary share

A: Chevy Co  owns 50% of another entity's Pref. Share Capital .  The Pref. Shares are 10%…

Q: 2022 Boxes of coffee sold 800,000 Number of planners purchased at P50 each 20,000 Coupons redeemed…

A: Estimated liability is defined as the obligation which could be estimated reasonably. In short, it…

Q: On January 1, 20X1, P sells an equipment with P20,000 book value to its subsidiary S for P30,000. S…

A: Subsidiary Company: Subsidiary Company is an entity whose business has been taken over by holding…

Q: your sister bought a condominuim unit for 9,300,000 peso through a condominium loan which she avaied…

A: The monthly amortization is the payment that has to be paid or received at the end of every month.

Q: Unit VIII QUESTION 6

A: The variance is the difference between standard data and actual production results. The labor…

Q: 12/31/2018 12/31/2019 Accounts payable $2,500 $6,400 Accounts receivable 3,500 8,500 Cash 4,700…

A: Formulas: Working Capital = Total Current assets - Total Current liabilities Current ratio = Total…

Q: ses a rental house on July 2

A: Generally, depreciation of assets has to be calculated and it will reduce the cost of assets. Assets…

Q: bank statement Date Check No. Debits Credits Balance Nov. 1 10,000.00 Nov. 4 339 34,000.00 44,000.00…

A: Bank Reconciliation Statement (BRS) BRS is a report or a statement made with the motive to match the…

Q: Using the MACRS rates from the following table, what is the book value of a $3,500 computer after 4…

A: calculation of book value after 4 years are as follows

Q: 2. At December 31, 2023, Davie Company had the following balances in the accounts it maintains at…

A: Hi student, Since there are multiple questions, we will answer only first question. Since, first…

Q: Reema Furniture factors $200,000 of receivables to Kroton Factors. Kroton charges a service…

A: Service Commission charged by Kroton :- 2% of Account Receivables  Amount of Receivables for…

Q: Unit v question 15

A: Journal entry is a process of recording and classifying business transactions into books of accounts…

Q: Unit VIII question 1

A: A standard cost is an estimated cost that a corporation determines for prices paid and quantities…

Q: 6. Determine the economic life of an $900 laptop computer. Your personal interest rate is 12% per…

A: Economic life is the estimated period of time an asset remains useful to the business or owner. When…

Q: 4. a) The primary responsibility for the prevention and detection of fraud rests with both those…

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

Q: Prepare adjusting entry for October 31. Show computation. A bank loan amounting to P100,000 was…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: ABC Company, due to extreme financial difficulties has negotiated a restructuring of its 10%,…

A: The notes payable are the long-term liabilities because these are to be paid over more than one…

Q: Unit viii question 13

A: In flexible budgeting, budgeted expenses will be adjusted as per the actual production. This is to…

Q: Sheridan Corporation wishes to exchange a machine used in its operations. Sheridan has received the…

A: Journal entries are the first step in the recording process. If asset is sold at a value lower than…

Q: From the French Instrument Corporation second-quarter report ended 2018, do a vertical analysis for…

A: Vertical analysis: It implies to a method of analyzing or evaluating the financial statements of a…

Q: rented office space and pald two month's rent in advance in the amount of P8.000, The entry would be…

A: Prepaid expenses refers the expenses which are part of the current assets and it could be converted…

Q: Vaughn Manufacturing sells insulated plastic tumblers with a unit contribution margin of $13 and a…

A: Lets understand the basics. When we have contribution and contribution margin then we can calculate…

Q: What is the cost of the equipment to be recorded by Faith Logistics Corporation on August 1, 2022?…

A: On August 1, 2022, the company acquired a service vehicle for a total cash price of P650,000 with…

Q: Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory…

A: The lower cost or net realizable method state that the inventory should be recorded at the lowest…

Q: Debit Credit Cash $31,000 Accounts Receivable 7,400 Prepaid Insurance 21,000 Accounts Payable…

A: Formulas: Working Capital = Total Current assets - Total Current liabilities Current ratio = Total…

Q: Calculate the proprietary ratio from the following information: Fixed Assets 12,80,000 Current…

A: Calculation of Proprietary Ratio Proprietary Ratio = Shareholders' Funds/ Total Assets Proprietary…

Q: A company produces two (2) products, “ore” and “tin”. The following sales forecast for both products…

A: Sales budget and Production budget are two types of budget, under which sales and production can be…

Q: Frappe Company is acquiring Frappuccino Corporation on January 1, 2020. The cumulative earnings of…

A: Calculation of goodwill: Thus, goodwill is P2,800,000.

Q: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain…

A: Auditing is described as the on-site verification activity of a process or quality systems, such as…

Q: An account which would be classified as a current liability is

A: Dividend payable is a current liability but form of common stock is not a current liability.…

Q: Unit 1 question 9

A: 1. Payment of Creditors on account- Cash Payment Journal 2. Return of Merchandise sold for credit-…

Q: 1. What is the total asset turnover in absolute amount or decimals? 2. What is the average age of…

A: Financial ratios refer to those ratios of the company which provide an overview of the company’s…

Q: Gain on extinguishment of 3-year 10% P1 million mortgage note to be recognized in profit or loss in…

A: Date Principal & Terms Status Mode of settlement 1/1/2020 3-year, 1,000,000 mortgage…

Q: Prakesh Company has the following data for one of its manufacturing cells: Maximum units produced…

A: theoretical cycle time is calculated by taking maximum unit produced and hours of production of…

Q: Date Activities Units Acquired at Cost e$ 6.00 - Unita sold at Retail $ 840 Beginning inventory…

A: Introduction: LIFO Method: LIFO stands for Last in first out. which means last received inventory to…

Q: Geary Corporation had the following transactions: · Apr. 15 - Received $6,000 from Marion Company…

A: Journal entry shows the recording of transactions during an accounting year and every transaction…

Q: At the beginning of the year, Shinedown, Corp. had a long-term debt balance of $46,755. During the…

A: Long-term debt refers to a company's debts and other obligations that are not due within one year of…

Q: In a Type A reorganization in the United States, the following consideration may be used to acquire…

A: The type A reorganization of united states, cash, equity shares, preferred shares and other…

Q: Cynthia Reynolds deposited $22,000 in an account paying interest of 4% compounded annually. Click…

A: Lets understand the basics. Compounding interest is a interest calculated on the principle as well…

Q: REQUIRED: PREPARE A STATEMENT OF COMPREHENSIVE INCOME IN A PRESCRIBED FORMAT FOR THE YEAR USING THE…

A: An income statement is one of the financial statements that shows the financial position of the…

Q: On January 1 , 2021, Gray Co. issued its 10%, 4-year convertible debt instrument with a face amount…

A: Above question is based on Compounded Financial Instrument. In these type of instrument, two…

Q: On December 31, 20Y5, the balances of the accounts appearing in the ledger of Wyman Company are as…

A: Disclaimer:  “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: Marigold Company has the following inventory information. July 1 Beginning Inventory 30 units at $80…

A: Ending units  = 30 + 70 - 45 + 40 - 30 = 65 units   Cost per unit on July 5 = [(30 x $80) + (70 x…

Q: An accountant agrees to perform $410 of tax services for an auto mechanic who has agreed to perform…

A: TAXABLE INCOME YEAR ACCOUNTANT MECHANIC 2021 $410 $0…

Q: Serenity Company (“Serenity”) is a shop selling electrical goods and adopts perpetual inventory…

A: The journal entries are prepared by a company to record the transactions in the books of accounts.

Q: Cash $14,500 56,000 7,800 1,500 Pirate Pete, Capital Oct. 1 Net loss Oct. 2017 Owner investments

A: Formula: Ending capital balance = Beginning capital + Additional investments - net loss - owner…

Q: Unit VI question 5

A: The contribution margin is calculated as difference between sales and variable costs. Break even…

Q: During the current year, Maine Salvage Company took out new loans of $19 million. In addition, the…

A: Cash flow statement includes: Cash flows from operating activities Cash flows from investing…

Q: For the calculation of weighted average number of shares where does the (4) come from when you are…

A: The number of shares will be given weight as per the number of period they have been remained…

Q: Which of the following statements is correct in accordance with AASB 16 Leases? Group of answer…

A: The question is related to Accounting for Lease.