If merchandise sells for $3,500, with terms 3/15.n/45 , and the cost of the inventory sold is $2,100, the amount charged to sales under the net method of recording sales discounts is?

Q: 4 Required information Use the following information for the Quick Study below. (Algo) (11-14) [The…

A: VALUATION OF INVENTORY    Inventory Valuation is a Method of Calculation of Value of Inventory…

Q: A erage lise es ods erchandise ets bus e B $ 11,100 $ 5,300 $ se si $ $ 1,050 $ $ 58,250 $ $ 17,580…

A: The question deals with forecasting for coming period.   Forecasting is very important for a…

Q: A noninterest-bearing note is issued on February 12 of a non-leap year in the amount of $14,250. It…

A: This question is related to Average Due Date .  As per given info the note amounted to $…

Q: 5 Cost of Merchandise 5 Payroll 2 Internet 3 Building Advertising Capital Assets ady Miscellaneous…

A: The question is reaped to forecast for coming period. It also required excel formulas.

Q: Cindy Monroe wants to create a fund today that will enable her to withdraw $26,800 per year for 8…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: Wynn Farms reported a net operating loss of $144,000 for financial reporting and tax purposes in…

A: Journal entry is the primary step to record the transaction in the books of accounts. The income tax…

Q: Which of the following expenses may a partnership elect to amortize?  (a) Advertising expense from…

A: (A) Advertising expense from before the partnership began their first actual day of business Yes, a…

Q: On January 1, 2022, Anderson Company purchased a machine with a cost of $14,409.50. To complete the…

A: Lets understand the basics. When any asset is purchased against the loan then asset needs to…

Q: During the year, CDE Corporation earned enough profits to pay dividends to its shareholders. CDE is…

A: C companies are subject to taxes at both the corporate and the shareholder levels; as a consequence,…

Q: The following Income statement does not reflect Intraperlod tax allocation. INCOME STATEMENT For the…

A: Income Statement - Income Statement includes income earned and Expense incurred during the financial…

Q: QS 17-4 (Algo) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for…

A: HORIZONTAL ANALYSIS   Horizontal analysis is the comparison of historical financial information…

Q: 3. Cyntia has short term debt of Php444,000.00 and going is to be amortized monthly for a year. The…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: During July, the following purchases and sales were made by Martine Company. There was no beginning…

A: The answer is:  (B) $ 1,039 The calculation will be as follows: July 13   Sold 78 units  Out of July…

Q: Sigman Company's inventories in process were at the following stages of completion at April 30:…

A: No. of Units  Percent Complete    Equivalent units 260               90…

Q: cribe a specific scenario of how you would use a pro forma financial statement?

A: Financial statements are very useful and they gives us insight into the performance of the company…

Q: Smith company produces golf discs which it normally sells to retailers for $7 each. The cost of…

A: Solution: For incremental analysis of special order, we should compare cost and revenues on…

Q: Carla Vista Inc. is considering two alternatives to finance its construction of a new $1.40 million…

A: The part of a company's income that is made accessible to shareholders and is distributed among all…

Q: Britney is a manufacturer of variety of cakes. The firm has provided the following data for the year…

A: Factory overheads are the expenses other than raw materials and direct labor used in the factory to…

Q: From the French Instrument Corporation second-quarter report ended 2020, do a vertical analysis for…

A: Introduction:- As per vertical analysis in income statement measures, Each very item of income…

Q: Calculate total projected mistreatment if the following three mistreatments were discovered in a PPS…

A: Mistreatment refers to intentional/unintentional recording of incorrect amounts of an item or…

Q: [The following information applies to the questions displayed below.] Prior Year $ 16, 200 29,900…

A: Vertical analysis: It is a method of analyzing the financial statement in which each item is shows…

Q: TCA Cable has fixed operating costs of $2.6 million, and its variable cost ratio is 0.30. TCA has…

A: Fixed operating costs are those indirect costs which are incurred by the entity to generate the…

Q: Alyssa's Boutique retails high end leather bags, wallets and shoes. The managers are aware that the…

A: Multi product break even analysis is used when the company makes and sells more than one products.…

Q: 11. An expenditure that increases an asset's capacity or efficiency or extends its useful life is…

A: Ans. Capital expenditure is an expenditure on asset that increases the life of the asset.

Q: Richere is a new client. She tells you that during the past year for fun she made quilts and…

A: The schedules of the IRS are there to help taxpayers to prepare for certain types of incomes or…

Q: Calculate the following financial ratios for Phone Corporation: Note: Use 365 days in a year. Do not…

A: Since you have posted a question with multiple sub-parts, we will do the first three sub-parts for…

Q: do required 1 and 2

A: The corporation raises capital by issuing preferred or equity shares. Although equity shareholders…

Q: John Corporation bases its overhead rate on direct labour hours. The expected direct labour hours at…

A: INTRODUCTION: Direct labor refers to the salary and wages provided to workers who are directly…

Q: The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko…

A: The closing entries include the transactions to close the temporary accounts of the business such as…

Q: Trish and Ron form Pine Cororation. Trish transers inventory basis of $60,000 and fair market value…

A: Tax Consequence means any transaction or event in which the Managing Member shall engage or…

Q: Compute the payback statistic for Project B if the appropriate cost of capital is 10 percent and the…

A: The payback period is the amount of time it takes to get back the initial cash investment. In other…

Q: When Jane dies this year her gross estate included the following: • Cash $37,429 held in Jane's name…

A: Unlimited marital deduction allows an individual to transfer unlimited property in the name of his…

Q: Hardaway Inc. purchased inventory as: Jan.10- 200 units at $5.00, Jan. 20- 500 units at $10.00, Jan-…

A: Specific identification method shows that the inventory is counted individually and each level of…

Q: Imagination Dragons Corporation needs to raise funds to finance a plant expansion, and it has…

A: Zeeo coupon bonds :- Zero coupon bonds are bonds that do not pay interest during the life of the…

Q: what is a portfolio as a profiling and self-reflection according to KODE model?

A: A portfolio as a profiling and self-reflection according to KODE model is a collection of a person's…

Q: CAPBS Inc. enters into a lease agreement to acquire the use of a piece of machinery for four years…

A: In exchange for one or more payments, a lessor agrees to grant a lessee the right to manage the use…

Q: If a partner contributes depreciable or amortizable property to the partnership, how is the basis of…

A: The basis of depreciable or amortisable property contributed to a partnership is recovered through…

Q: year-end: Preference share capital, P100 par, 50,000 shares Share premium - PS Ordinary share…

A: ANSWER:-                                                           JOURNAL ENTRIES DATE…

Q: You are a manager at Northern​ Fiber, which is considering expanding its operations in synthetic…

A: Cost of Equipment = $29 Million Working Capital = $14 Million Cash Outflow in Year 0 = $43 Million

Q: 4. Prepare journal entries to record the purchase and sale transactions, as well as the cost of…

A: Inventory Valuation Method - Inventory valuation method includes FIFO, LIFO, and Weighted Average…

Q: ​Jim's Espresso expects sales to grow by 10.4% next year. Assume that​ Jim's pays out 85.9% of its…

A: The total amount of money that a company's owners have put into the enterprise is referred to as the…

Q: Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net…

A: Debt ratio is the ratio that measures what percentage of the total assets of a company are funded by…

Q: Exercise 17-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2…

A: Working note :- Particulars Current Year $ 1 Year Ago $ 2 Years Ago $ Sales [a] 104,600…

Q: [The following information applies to the questions displayed below.] Hemming Company reported the…

A: Gross profit is the calculation of deduction of cost of goods sold from the sales of the company. It…

Q: Walnut has forecast sales for the next three months as follows: July 4,800 units, August 6,800…

A: Budgeting is an important aspect and part of accounting. Budgeting helps accountant to draw out a…

Q: Minimum amortization of the actuarial loss?

A: INTRODUCTION: Amortization is the process of progressively applying an asset's cost to expenditure…

Q: Due to the current state of the Internal Audit department of the Council, the Minister responsible…

A: Advantages of outsourcing the internal audit function: 1. Increased focus on strategic objectives:…

Q: 5 units with a book cost of $6 and replacement cost of $5.90 60 units with a book cost of $3 and…

A: Units Book Cost Replacement Cost Book Value Market Value 50  $      5.00  $      5.35  $    250.00…

Q: In 2022, when the Social Security wage base limitation was $147,000, Jacee received a $100,000…

A: FICA tax are applicable to the self employed in this there is no employer and employee than both are…

Q: hich of the following is not a true statement regarding revenues from various types of nonexchange…

A: Transaction - An executed contract between a buyer and a seller to trade goods, services, or…