How much is the total donor's tax due of Spouses Oredan?

Q: Impairment Amando Bacot purchases equipment for $10,000 on January 1, 2022. The equipment has a resi...

A: The question is related to Impairment of Assets. The  Impairment Loss is calculated as under  Impair...

Q: What do documentation procedures and independent internal verification procedures have in common? O ...

A: For the Internal control procedures of the business entity which needs the help of both documentatio...

Q: ABC Company , a holder of P1,000,000 XYZ Company bonds, collected the interest due on March 31, year...

A: Non controlling interest = 25%

Q: Novak Corp. just began business and ma June 1 189 units $1134 June 10 252 units 1764

A: Fifo is short for first in first out. it means the element which is inserted into the structure firs...

Q: Assume the following five facts: • budgeted fixed manufacturing overhead for the coming period of $...

A: Predetermined plantwide overhead rate = budgeted variable manufacturing overhead rate + budgeted fix...

Q: The company is desirous of comparing serval financial transactions and possible outcomes to assist i...

A: The shareholder's equity is the main source of finance for every company. This is a major component ...

Q: PROVIS A provision is an existing liability of uncertain timing uncertain amount. The essence of a p...

A: Provision is an amount kept separately for some uncertain event that may happen in the future (Just ...

Q: In this scenario, you are presented with the company’s financial records. This activity requires vig...

A: Thanks for the Question: Bartleby's Guideline “Since you have posted a question with multiple sub-pa...

Q: Campbell Corporation uses the retail method to value its inventory. The following information is ava...

A: Introduction: The term inventory refers to both raw materials used in manufacturing and completed go...

Q: A company lends its supplier $154,000 for 3 years at a 10% annual interest rate. Interest payments a...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: ABC Company , a holder of P1,000,000 XYZ Company bonds, collected the interest due on March 31, year...

A: A company that purchases the majority of shares (i.e substantial interest) in another company than t...

Q: On January 2, 2021 PAMIGAY CORP paid P380,000 cash and issued 120,000 new shares of its P5 par value...

A: Consolidated cash balance as of the date of acquisition = Cash balance of both companies before acqu...

Q: 1,200,000     Direct expenses    4,000,000     Bills payable        150,000 Net sales        80,000,...

A: The answer has been mentioned below.

Q: Your company declared $13,800 cash dividends on stock. There were $6,400 in dividends payable at the...

A: Formula: Dividends paid during the year = Dividends balance at the beginning of the year + Dividends...

Q: Capital losses are different ordinary losses in that the former may only be claimed by corporate tax...

A: Provision of capital losses:- Losses on sale or exchange of capital assets shall be allowed only to ...

Q: On July 19, 2021, SUNOB acquired 60% of the outstanding shares of YSAE. The business combination res...

A: The goodwill (or) gain on bargain purchase will be considered as full goodwill (or) Full gain on bar...

Q: The company is desirous of comparing serval financial transactions and possible outcomes to assist i...

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued i...

Q: The THV, Inc. processes tuna for various distributors. Two departments are involved, processing and ...

A: Under weighted average process costing method the cost is to be averaged and then is to be applied u...

Q: T/F. A major contentious issue with Internal Service Fund is the distribution of losses to various c...

A: Internal Service Fund is the reserve created with the motive to provide the goods, services or benef...

Q: Accounting During the current year, Chuck's home was burglarized. Chuck had the following item stole...

A: Gross Income: The value of income which is earned by the taxpayer from varied sources is called as g...

Q: Transaction PROBLEM 2: Barone's Repair Shop was started on May 1 by Nancy Barone. A summary of May t...

A: Tabular Analysis - Tabular Analysis is the tabular for of representing accounting equation. In this ...

Q: Enumerate and explain each of the 7 reasons why the Code of Ethics exists in accounting. 1. 2. 3....

A: The first thing that comes to mind when we hear the word "ethics" is having to choose between good a...

Q: Senario  The company is desirous of comparing serval financial transactions and possible outcomes t...

A: Closing entries for net income is done by transferring the balance of income summary which represent...

Q: Vhat amount of cash should Hechter Co. report on its December 31, 2020 statement of financio РOsitio...

A: Solution:- Introduction:- Cash and Cash equivalents includes bills, checks received but not deposit...

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A: Marginal Costing: Under Marginal costing, variable costs are charged to the product cost. And the fi...

Q: Kennedy, Inc. Statement of Cash Flows Cash flows from (used for) operating activities: Net income 12...

A: Cash Flows From Operating Activities: Cash flow from operating activities shows how much cash an org...

Q: Yummy Food is expanding its business and wants to open a new facility to make frozen lasagna, which ...

A: Lease payment is the rentals to be paid by the lessee for using the asset of the lesser for certain ...

Q: A Company produces a single product which sells for $20 per unit Variable Cost is $15 and fixed cost...

A: Sales value needed to earn desired profit = Fixed cost for the year / (Contribution margin ratio - D...

Q: Institute Technologies is choosing new cost drivers for its accounting system. One driver is labor h...

A: Answer) Calculation of Total Flexible Budget for Actual Labor hours Flexible Budget for Actual Labor...

Q: Quantitative Problem: Bank 1 lends funds at a nominal rate of 7% with payments to be made semiannual...

A: The Effective Annual Interest Rate (EAR) seems to be the rate of interest that has been adjusted to ...

Q: Account Amount Lacson invested P100,000 cash in the a. Account debited Cash 100,000 business b. Acco...

A: The transactions in the business effects two or more accounts as debit and credit. The debit balance...

Q: Sheffield Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning De...

A: The financial statement which shows the assets, liabilities and shareholder's equity of the particul...

Q: Assume you are Jacob, Co. Prepare entries for each of the transactions below. On January 6, Jacob Co...

A: Allowance Method - Under allowance method company make provision of uncollectible accounts at the en...

Q: Scenario:  Steve Osbourne is considering opening a business, but the major decision faced is how to...

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

Q: At the beginning of the year, Lopez Company had the following standard cost sheet for one of its che...

A: Solution 1: Actual rate of variable overhead = $125,000 / 170000 = $0.735294 per DLH Standard rate o...

Q: The partnership balance sheet shows cash of P5,000, non-cash assets of P14,000, and no liabilities. ...

A: Solution:- Given, Allen Capital balance = 5,000 debit ; profit/loss = 20% Branden Capital balance = ...

Q: he storeroom in Ant's restaurant caught fire last week after his hot water heater exploded. The fire

A:                            Liability is that which a business owes to someone else.  Hazard is harm ...

Q: The December 31, 2021 adjusted trial balance section of Premier Construction's v sheet is below Adju...

A: T-Accounts - T-Accounts are prepare after preparing journal entries. After preparing journal entries...

Q: Steve Osbourne is considering opening a business, but the major decision faced is how to organize th...

A: Share refers to the smallest unit of the total capital of an entity. 

Q: 2. Management felt that because the data revealed some customers require a disproportionate share of...

A: Activity based costing is the allocation of overhead cost on the basis of the most appropriate cost ...

Q: 2. The company is desirous of comparing several financial transactions and possible outcomes to assi...

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued i...

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A: Total shareholders equity shall be 100% shareholders equity of ABC + 90% shareholders equity of ABC ...

Q: If a gain of $8,077 is realized in selling (for cash) office equipment having a book value of $59,04...

A: The cash flow statement includes the amount of cash received or paid.

Q: a.)Pharoah Company’s net income for 2020 is $709,000, and 94,000 shares of common stock were issued ...

A:    A)  94,000 shares was outstanding for period 12 months   Net Income  for 2020 $709000 stock o...

Q: In this scenario, you are presented with the company’s financial records. This activity requires vig...

A: Issued 80000 shares of common stock. Stock has par value of .50 per share and was issued at $30 per ...

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A: Absorption Costing - In this costing method cost associated with the manufacturing of a product is c...

Q: Is it true or false that corporations muse issue common stock, but may or may not decide to issue pr...

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: Q5)Poles Apart purchased snowboards at a cost of $345 and marks them up by 35% of the selling price....

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Q: Instructions On January 1, the first day of the fiscal year, Shiller Company borrowed $79,000 by giv...

A: Notes Payable - Notes Payable is amount owed by the company. Which is repayable at fixed period and ...

Q: Steve Osbourne is considering opening a business, but the major decision faced is how to organize th...

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued i...