How would you argue for a significant increase in both dividends and repurchases instead of using the available cash to make investments, i.e. M&A?

Q: Over the past year Meredith and Shunt Manufacturing had an average quarterly sales for the past 5…

A: Total average= Total seasonal average/4 Seasonal index= Season average/Total average

Q: The trial balance of Novak Ltd. at December 31, 2020, follows:     Debits   Credits Cash…

A: Statement of financial position has been prepared in the 2nd step

Q: Plum Inc. acquired 90% of the capital stock of Sterling Co. on 1/1/X1 at a cost of $540,000. On this…

A: Total percentage of holding of plum Inc in sterling is 95%

Q: XYZ Corporation's trial balance contained the following account balances at December 31, 2021…

A: Current assets are those which are owned by an entity for a short period and can be converted into…

Q: Based on the advantages and disadvantages of each of the following forms of businesses, give an…

A: A business is formed by the persons who want to start the business and as there are various methods…

Q: A, B, and C are partners who each donated P6,000.00, P4,000, and P4,000, respectively, and…

A: The Accounting Information System (AIS) provides data that is needed for decision-making. It…

Q: Explain how a retailing firm would determine the cost of goods sold during an accounting period.

A: Lets understand the basics. Cost of goods sold is as suggest a cost of the goods sold. It is…

Q: Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your…

A: EAR = (1 + i/n)^n - 1 Where i = interest rate per year, n = no of times compounding in 1 year

Q: High-Low Method; Scattergraph Analysis The following data below relates to units shipped and total…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: A new merchandising business, Dazzle Corporation started its operations last January 1, 2020.…

A: Adjusted entries refers to the entries passed in order to adjust the existing journal entry.

Q: Champion Contractors completed the following transactions involving equipment. Year 1 January 1 Paid…

A: The journal entries are prepared to record the transactions on regular expenses. The major expenses…

Q: On January 1, Lumia Company’s liabilities are $70,000 and its equity is $50,000. On January 3, Lumia…

A: The transactions of the business effects two or more accounts of the business. The accounting…

Q: new merchandising business, Dazzle Corporation started its operations last January 1, 2020.…

A: Balance Sheet: It is the statement or sheet where Assets, Liabilities and Owner's Equity are shown…

Q: Exercise 4. Effect of omitting adjusting entry! At the end of March, the first month of the business…

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

Q: $ 30,526 Selling expense Purchases Inventory, September 15,755 Administrative expense 732 Rent…

A: Introduction: Gross profit = Net sales - cost of goods sold. Deduction of cost of goods sold from…

Q: $135,000   Retained earnings 495,300   412,800     Required:

A: Statement  of Retained Earnings A statement of retained earnings is a financial statement that…

Q: The interest on a 6%, 60-day note for $5,000 is $300. O True O False

A: Interest  = Note value × Interest rate ×60/360

Q: With respect to the gross up and tax credit procedures applicable to dividends from taxable Canadian…

A: The meaning of the gross dividend is that it is the part of the company's earnings that is paid to…

Q: Explain Prudence concept and provide example.

A: Following accounting concepts & principles are used in accounting:     Business entity principle…

Q: The acquisition of a new machine with a purchase price of $80,545, transportation costs of $9,221,…

A: Asset is the resource owned by an entity which are held for generating future revenues.

Q: A machine with a cost of $55,000 has an estimated residual value of $3,852 and an estimated life of…

A: A double-declining balance method is an accelerated depreciation method Using this method, the value…

Q: 1 2 3 5 50 Statement of Stockholders' Equity (Label) Common Stock Retained Earnings Total

A: >Stockholder's Equity is a section of the Balance Sheet. >Stockholder's equity comprises…

Q: Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 60,000…

A: >Dividends are the payment to investors of stock or shares. >Preferred stockholders have a…

Q: You were employed by ML Co. for 20 years and retired on 30 September 2020 at the age of 57. This…

A: Here discuss about the details of the assessable income which are deemed from the superannuation…

Q: A company manufactures a single product. Budget and standard costs details for the next year…

A: Lets understand the basics. Break even point is a point a which no profit no loss condition arise.…

Q: Cash on hand and in banks Accounts receivable - Merchandise inventory-- - 50,000 -- 350,000…

A: Current assets is one of important and useful form of assets in the business. It means those assets…

Q: Corny and Sweet grows and sells sweet corn at its roadside produce stand. The selling price per…

A: Formula : Break even units = Fixed cost / Unit contribution margin.

Q: Corny and Sweet grows and sells sweet corn at its roadside produce stand. The selling price per…

A: Solution:- Given, The selling price per dozen = $4.00 Variable costs = $1.25 per dozen Total fixed…

Q: Explain Matching concept and provide example.

A: In order to record revenue and expense for a company, it should consider the matching concept while…

Q: An asset was purchased for $103,000 on January 1, Year 1 and originally estimated to have a useful…

A: Depreciation is a non-cash expense which is recorded to report the regular wear and tear of an…

Q: Allowance for Doubtful Accounts has a debit balance of $2,300 at the end of the year (before…

A: Solution:- Given, Allowance for Doubtful accounts has a debit balance = $2,300 at the end of the…

Q: Great and Happy pooled their resources to form a partnership on April 1, 2021. Great invested…

A: Answer:-  Partnership meaning:- A partnership is a unique relationship between people who have…

Q: Prepare the entries on Big and Bigger's books under each of the following scenarios: a. The exchange…

A: As per PFRS 38, intangible assets will be classified at their fair value if it is acquired through…

Q: Cost of goods manufactured $198,240 Selling expenses 66,220 Administrative expenses 35,010 Sales…

A: The cost of goods sold includes the cost of goods that are sold during the period. Cost of goods…

Q: What is the difference between accounting and business government

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Which is not a characteristic of corporate income tax? Progressive tax   General tax Direct tax…

A: Taxes are the major source of revenue for the government. There can be various type of taxes which…

Q: 1. Classify the above costs into variable costs, fixed costs and mixed costs. Use high-low method to…

A: 1. Fixed Costs - These are costs which do not change in the change in the level of activity. These…

Q: 3) Explain Going Concern concept and provide example.

A: The accounting is a process to identify the business transactions, record the transactions and…

Q: Terese is a director of Connolly Corporation and is paid directors' fees of $6,000.00 quarterly.…

A: The QPP is a mandatory Public Insurance Plan. If a person is paid only for director's fees and no…

Q: D6) The 2021 standard deduction is $12,600 and deductions for state and local taxes are limited to…

A: Solution:- Given, Standard deduction of 2021 = $12,600 Deductions for state and local taxes are…

Q: EITHER TRUE OR FALSE. Describe why the assertion is incorrect if it is in fact incorrect. 1. Cash…

A: Cash refers to the amount of monetary value that is available in physical form in the hand of an…

Q: The allowance method of estimating uncollectible accounts receivable based on an analysis of…

A: >Bad Debt Expense is recorded using two methods: #1: Direct write off method: Expense is…

Q: On October 1, Takei, Inc. exchanged 8,000 shares of its ₱25 par value ordinary share for a parcel of…

A: Carrying value of land=No. of shares×Fair value per share

Q: Required: a. Explain the purpose of a PPE register, describe its contents and state how it should be…

A: The purpose of maintaining PPE register is to provide all useful information related to all assets…

Q: The remaining undepreciated capital investment in year t is called: Select one: O a BVT O b. P OC B…

A: Note: As per the Policy, we’ll answer the first question at a time, since the first question seems…

Q: Write an essay about the emerging roles of management accountants in today's and tomorrow's…

A: The financial and cost control reports are formatted by the management accountant. These reports are…

Q: Do you want to make a double entry? On November 7, 2021, a fire broke out at the store, destroying…

A: When there is a loss of goods by fire, an expense account is debited named loss by fire account and…

Q: On October 1, Black Company receives a 4% interest-bearing note from Reese Company to settle a…

A:

Q: Prepare any necessary journal entries based on the following data regarding the bank reconciliation…

A: Journal entries, in the books of an entity, are recorded to prepare a daily report of the…

Q: 1. Cash balance according to the company's records at August 31, $25,520. 2. Cash balance according…

A: Introduction: BRS: BRS stands for Bank Reconciliation statement. To reconcile the differences…

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.