How much is the capital of CABLES Trading upon formation?

Q: How much would be Jamie's share in the net income?

A: When two or more partenrs come together to do business aims to earn profit is known as partnership.…

Q: regardin on how to get income po... if you'll compute it the result will turn out 63,000 but on your…

A: Net Income = (Profit - Interest) x (100 - Tax rate) Net Income = (140,000 - 50,000) x (100 - Tax…

Q: Coronado Industries required production for June is 142000 units. To make one unit of finished…

A: A direct material purchase budget is used to estimate the units that should be purchased for the…

Q: A state collects $270,000,000 in withheld and estimated tax payments during the 2022 calendar year…

A: Introduction: Revenue is the term for the total sales for a certain reporting period.  It…

Q: How was the depreciation for fix assets calculated?

A: Deprecaition Expenses There are different method which are used to calculate the deprecation of the…

Q: A healthy company will generate positive cash flows from operations, some of which will be used to…

A: Solution Concept Cash flow refers to the actual cash receipt and payment made by the business It…

Q: b. An unearned commissionaccount in thetrial balance atthe end of the year showed a balance of…

A: The adjustment entries are prepared to adjust the revenue and expenses of the period.

Q: The Sarbanes-Oxley Act (SOX) contains all of the following titles that have a direct impact on…

A: The Sarbanes-Oxley Act implemented in 2002. The Sarbanes-Oxley act is established for the protection…

Q: A company set the total budgeted direct labor cost at P75,000 for the month for producing 5,000…

A: Direct labor efficiency variance = (Actual hours worked × standard rate) - (Standard hours×standard…

Q: Alicia's automobile destroyed in a tornado on 5/4/2021. This did not occur in a Federally declared…

A: Introduction: AGI Accounting is dedicated to providing our clients with the most accurate and…

Q: why is there no entry for the 15th?

A: On record date No Entry is Required because liability is created on the date of the declaration and…

Q: Time let Freddy runs a business selling clocks. He buys 894 clocks for $44 each (including GST) and…

A: GST Rate in Australia Goods and services tax (GST) is a tax of 10% on most goods, services and other…

Q: compute the total deductible expenses for purposes of determining che regular income tax due from X,…

A: Tax:- A tax is the compulsory payment which is imposed by the government on income and capital…

Q: Which is incorrect statement regarding the taxability or deductibility of gains or losses in…

A: Tax is a liability calculated on the income earned and paid to the government that acts as revenue…

Q: $m Non-current assets (book value) Current assets 30 18 Non-current liabilities Current liabilities…

A: The minimum price per share is calculated by dividing the market value of the shares by the number…

Q: full year effective tax rate will be 15%. Based on a first quarter 2020 income before tax of $200,

A: It is given the amount of before tax is $200,000 and the tax rate is 15%.

Q: On May 1, 2022, Carlo and Jamie formed a partnership agreeing to share profits and losses in the…

A: Given that, Carlo and james are partners. Profit and loss sharing ratio = 2:3 Investment by carlo =…

Q: Category Prior Year Current Year Accounts payable 3,147.00 5,976.00 Accounts receivable 6,925.00…

A: calculation of above requirement re as follows

Q: A partnership agreement may NOT include O the method of allocating profits and losses the purpose of…

A: A partnership is an agreement between two or more partners where partners are agreed to work…

Q: You were engaged by CPA Co. to audit its financial statements for the first time. In ex: you found…

A: Retained Earnings- Retained earnings are the accumulated portion of a company's profits in a fiscal…

Q: 3-year, P900,000 receivable due as follows 0. On Jan. 1, 20x1, Parya Co. rece note…

A: Introduction: The present value (PV) of a future sum of money or stream of revenue is its current…

Q: Anderson disposes a vacant lot for P3,000,000.  The lot has an Assessor's fair value of P2,800,000,…

A: What is the basis in the valuation of real property?  The value of the real property will be based…

Q: Masay Company provided the following information for the Problem 9-2 (IAA) current year: Sales…

A: preparation of income statement are as follows

Q: and E of c

A: Inventory management is the process of planning, monitoring, and controlling the movement of…

Q: Non-cash assets invested into a partnership are recorded at O fair market value O net book value O…

A: Introduction: Assets that are not economic in nature. Non-cash properties are described here. These…

Q: Prepare cost of goods manufactured and statement of comprehensive income

A: The cost of goods manufactured is a schedule or statement that indicates overall production costs,…

Q: Loss on sale of plant and machinery should be written off against: Depreciation fund account Sales…

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

Q: Sanjay Company has monthly fixed costs of $112,000. The variable costs are $5.00 per unit. The sales…

A: Formula: Sales revenue = Sales price per unit x Number of units sold

Q: Which of the following is NOT considered a legitimate expense of a partnership business? Interest…

A: Salaries for management who are hired to run business is considered as an legitimate business…

Q: Which of the following is NOT true about the statement of financial position of a partnership? The…

A: Assets Contribution in the Partnership Firm: If a partner contribute assets rather than cash to the…

Q: A limited partnership is formed once two individuals agree to be limited partners.

A: A partnership is a form of business that agrees to carry a business and share the profits according…

Q: (Do not round e.g., 32.16)

A: The total cost of production of a good comprises of the total fixed cost of production and the total…

Q: The standard rate of pay is $12 per direct labor hour, If the actual direct labor payroll was $42336…

A: Lets understand the basics. Direct labor rate variance is a variance between the standard rate at…

Q: Hu Corporation has two operating divisions, A and B. The following information is provided for…

A: As division A on operating capacity, So division A loses its contribution margin. So the transfer…

Q: o. computed a pre-tax financial income of 15,000,000 for the year ended Dec. 31, 201X. In preparing…

A: Explanation of Concept Deferred Tax Assets / Deferred tax Liability : are to be calculated when…

Q: On January 1, 2022. Cullumber Corporation had $1.125.000 of common stock outstanding that was issued…

A: A. Total number of shares outstanding = ($1125000/$10) + 40000 = 152500 shares Common stock dividend…

Q: income statement

A: Investments in Equity shall be classified as Fair Value always. The question may arise as to whether…

Q: Problem 6 CPA Co. was organized on January 1, 2017. An analysis of the company's allowance for bad…

A: Bad Debt expense is an expense recorded in financial statements when amount receivable from debtors…

Q: Show the necessary adjustments.

A: Retirement of the partner is that the partner which has gone from the partner does not remain a…

Q: The payback period for this proposed investment is:

A: Payback period is the number of years it takes for company to recover the initial investment. It…

Q: (a)  You have been appointed as an accountant of M.K. Industries a company formed by Mr Mutiso and…

A: As per the entity concept, business and businessman are a separate legal entity. So, the personal…

Q: Case 6-5 Vertical Pharmaceuticals Inc. et al. v. Deloitte & Touche LLP1 On December 13, 2012,…

A: An Auditor has certain basic responsibilities towards audit and it is important that an auditor…

Q: by the company were a $500 machine test fee and a $500 shipping service fee. The machine can be used…

A: Depreciation is the amount which is to be reduced from value of assets to recognise the normal…

Q: What is a Balance Sheet

A: A balance sheet's components Asset: Liability: Owner's equity:

Q: On January 1, 20x1, Diminished Co. paid cash down payment of P400,000 and issued a noninterest…

A: A borrower pays interest on a loan based on a proportion of the principle (the amount borrowed). The…

Q: required by law to provide the payer's name, address, & tax identification number on a separate…

A: Tax Return form  are the formed which is been formed by the government to prepare the file the…

Q: Parent owns 100% of subsidiary. Subsidiary has bonds payable to third parties of $5,500,000., plus…

A: Introduction When bonds of affiliates are purchased from non-affiliates, from the viewpoint of…

Q: The Phibbs Company paid total cash dividends of $200,000 on 25,000 outstanding common shares. On the…

A: In this question, we need to calculate dividend yield of the Phibbs Company with the given data. Let…

Q: Times-Roman Publishing Company reports the following amounts in its first three years of operation:…

A: Introduction:- The following formula used as follows under:- Differed subscription =Beginning…

Q: On January 1, Carlo, Jamie, Roma, and Fe, formed CABLES Trading, a local partnership, with capital…

A: Share of profit means the amount of profit that is received by one partner from the net profits of…