If a broker quotes a price of 111.25 for a bond on September 10, what amount will a client pay per $1,000 face value? The 7% coupon rate is payable on May 15 and November 15 of each year.

Q: Banking Hanna has an income of $120.000 that she is willing to spend over a year, f her bank account...

A: Total Income = $1,20,000 Bank gives 4% That is 1,20,000 * 4% = $4,800    

Q: A store sells a product that has a constant daily demand of 46 units The store purchases the product...

A: Order size= 966 units daily demand= 46 units First batch will be ordered after = 966/46= 21 days  

Q: The following transactions occurred in the books of Pay n Pick limited for the month of April 2015: ...

A: Lets understand the basics. In FIFO basis company assumes that, goods come first in the inventory ar...

Q: n income statement for Howell Company: Sales $600,000 Variable costs (150,000) Contribution margin ...

A: Margin of safety is the excess sales over break even sales. Margin of Safety = Actual Sales Revenue ...

Q: Entries for Bank Reconciliation

A: These are the accounting transactions that are having a monetary impact on the financial statement o...

Q: Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following dat...

A: Under weighted average of process costing, beginning WIP cost is considered in cost per equivalent u...

Q: Nutritious Pet Food Company's board of directors declares a large stock dividend (50%) on June 30 wh...

A: The dividend is declared to the shareholders from the retained earnings of the business. 

Q: asota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $ 160,000...

A: Answer-  Calculation of Profit Margin -   Formula,. Profit Margin = Net Income/ Net Sales.   Given, ...

Q: Sarasota Corp. reported net sales $ 600,000, cost of goods sold $ 336,000, operating expenses $ 160,...

A: Formula: Profit margin = ( Net income / Net sales ) x 100

Q: Purchases $250,000 Cost of goods sold 250,000 Beginning balance 30,000 Ending balance ?

A: Formula: Cost of Goods Sold = Beginning Inventory + Purchases – Ending Inventory Ending Inventory = ...

Q: March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. T...

A: The bonds are issued at premium when market rate is lower than the coupon rate of bonds payable. 

Q: Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000, a...

A: Gross Profit margin is the % of revenue that exceeds the COGS Gross profit Margin = Revenue - COGS/ ...

Q: ABD Company manufactures wooden rocking chairs. ABD identified the following three material costs in...

A: Indirect material cost is the cost of materials used in production that is not directly traceable to...

Q: Using Declining Balance Method, a machine with an initial cost of $200,000 and a life of 10 years.

A: The value of the specific machinery or asset after its effective or expected life of usage is regard...

Q: For each of the following situations, state the accounting principle or concept that has been applie...

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

Q: A newspaper article without an author still needs to be included in the reference list. O True False

A: If an article has no author then is is recommended to start the citation with the title of the artic...

Q: Spiceland Corporation is in the process of obtaining a loan at City Bank. The bank has requested aud...

A: The question is related to the making correct journal entries. The details are given. 

Q: ellco p

A: These are the accounting transactions that are having a monetary impact on the financial statement o...

Q: nents, an auditor may inquire of he client personnel which of the following questions? O Are the dut...

A: The question is related to risk assessment procedure of Investment. Risk assessment is the identific...

Q: A firm will produce either product A or B. The total costs (TC) for both products can be estimated b...

A: Net profits: Net profits are the earnings received by the company at the closing of an accounting ye...

Q: Calculate the dividend payout ratio for 2020. (Do not round intermediate calculations.)

A: Lets understand the basics. Dividend payout ratio indicates that, how much amount of net income is p...

Q: In performing risk assessment procedures for investments, an auditor may inquire of the client perso...

A: Risk Assessment Procedure: Identifying and assessing the risks of substantial misrepresentation, whe...

Q: e: resident taxpayers and non-resident taxpayers. Individual income tax rates applicable on resident...

A: The company's income statement is prepared for arriving at the profits generated by the company duri...

Q: Darlene Company acquires 80% of Juanito Company for P250,000 on January 1, 2010. Juanito reported c...

A:

Q: 63,) A company issued a P3,000,000, 6-year bonds dated January 1, 2021, with a stated interest rate ...

A: First question: PhP 107,798.74 Second question: PhP309,984

Q: When control risk is assessed at less than high for all financial statements assertions, an auditor ...

A: Control Risk: Control risk is the risk that a misrepresentation due to mistake or fraud that might o...

Q: Economic Value Added (EVA

A: EVA is an important concept in the world of finance and accounting. It is one of the often used fina...

Q: Richard would like to invest on long-term debt securities, specifically bonds. Instruct Richard to g...

A: The securities are issued by the company in order to fulfill its capital requirements. It helps the ...

Q: On January 1, 2021, Fingerstyle Co. (lessee) enters into a ten-year lease of equipment, with fixed a...

A: Leasing Agreement: An arrangement initiated between lessor and lessee where the lessee makes the usa...

Q: You audited the financial statements of PIS Corp. for the first time in 2022. The company started it...

A: Calculation of Net income in 2020. Particulars 2020 2021 2022 Net income  65,500 97,000 115,700...

Q: Twillight Company uses the aging of accounts recelvable method to estimate Bad Debt Expense. The bal...

A:

Q: Sarasota Corp. reported net sales S 600,000, cost of goods sold $ 336,000, operating expenses $ 160,...

A: Profit margin = Net incomeNet sales ×100 

Q: n connection with your audit of the financial statements of Thanos Corporation for the year ended De...

A: Petty Cash Fund It is important for the business to manage the petty cash fund which is the primary ...

Q: As practice manager, you are asked by the owner physicians to prepare a preliminary budget for addin...

A: Preliminary Budget means the draft budget submitted for initial consider- ation by the Commission, w...

Q: Statement 1: As part of obtaining an understanding of internal control, an auditor is required to ob...

A: Internal control: In order to gain a thorough understanding of the controls that are relevant to aud...

Q: Zach contributed land with an FMV of $44,000 and a basis of $23,500 to a partnership on April 5, 201...

A:   When a partner contributes property, their basis is increased by the partner's tax basis in the co...

Q: Mr. Allen is a 65-year-old Jamaican tax resident. He is the director of a hotel, Allen’s Rest Well R...

A:

Q: In January direct labor was 40% of conversion cost. If the manufacturing overhead cost for the month...

A: Conversion costs= Direct Labor + Manufacturing Overheads.

Q: A company's accounts payable dated December 31. 2021. totaled P1.000.000 before any necessary year-e...

A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...

Q: Sylvia is tasked to compute for all the outlays of cash by her company for the last quarter of 2021....

A:

Q: Check No. 12-375 is issued to establish a petty cash fund of $500.The amount of cash in the petty ca...

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc. ...

Q: 52. Nicanor sold his rest house in Pangasinan for P 8,000,000. The Fair market value of the rest hou...

A:

Q: Prepare a statement of equivalent production to determine the equivalent units for direct materials ...

A: Computation of above requirement are as follows

Q: Young Corporation has been operating successfully for several years. It is authorized to issue 24,00...

A: "Since you have asked multiple question,we will be solving 1st question for you, If you want any spe...

Q: Ruvi and Patrick are partners in a merchandising business. During 2021, they withdrew their salary a...

A: Owner's Equity refers to sum of Beginning capital, Additional investments and share of Income and Mi...

Q: Purchases S250,000 Cost of goods sold 250,000 Beginning balance 30,000 Ending balance ?

A: Formula: Ending balance = Beginning balance + Net purchases - Cost of goods sold

Q: Which of the following statements best explains the relationship between the acquisition/payment pro...

A: Solution Explanation - Sales collection process is a series of operating events that collectively se...

Q: American Importers reports net income of $50,000 and sales revenue of S625,000. If the company's gro...

A: Gross profit = Sales - Cost of goods sold where, Gross profit = Sales x Gross profit ratio

Q: On January 1, 2010, Peter Company purchased 80% of the common stock of Pan Company for P316,000. On ...

A: You have posted multiple questions. so only the first three interlink parts of the first questions a...

Q: In performing risk assessment procedures for property, plant and equipment, an auditor may inquire o...

A: Risk assessment procedures is also written as RAP, is the audit procedures performed by auditor for ...