In order to prepare Forms W-2, an employer would utilize the employee's earnings record. O True O False

Q: If a sole proprietor buys a printer for his business, where would the printer be reported on Schedul...

A: It would be reported under the category depreciation (Part 2, number 13 depreciation). No it would n...

Q: Rental income of R70 000 is received in advance. Calculate the tax base for income received in advan...

A: Rental payment refers to the periodic amount paid by the tenant to the owner of a property for eithe...

Q: Expenses increase on the debit side. Even though these account balances are increasing, what is happ...

A: Expense refers to the cost related to the operations which the business incur in order to generate t...

Q: On 1 July 2010 Davis Ltd acquired all the share capital in Mitchell Ltd for $230,000 cash. At the da...

A: When an asset is revalued at the time of consolidation, an entry needs to be passed.

Q: Greek Manufacturing Company produces and sells a line of product that are sold usually all year roun...

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...

Q: b. Accumulated Depreciation: The company has only one plant asset (truck) that it purchased at the s...

A: Accumulated depreciation is the cumulative depreciation of an asset up to a single point in its life...

Q: PARTNERSHIP OPERATION FOR NUMBERS 5 -7 On January 01, 2021, DEAN, POGI and GUAPO formed DPG Partners...

A: 5) Net loss = 500,000  6) Dean Capital = 550,000  7) Guapo Capital = 50,000 Explanation: 5)  Pogi Be...

Q: A machine with a cost of $141,000 and accumulated depreciation of $90,500 is sold for $61,000 cash. ...

A: Cash flow statement provided information about the cash inflows and cash outflows of the company. Ca...

Q: 39) Pall, Inc, owns 40% of the outstanding stock of Sibil Company. During 2017, Pall received a $4,0...

A: Ans. Cash dividend received from investment in stocks is an income or return from the investment. 

Q: A company reported that its bonds with a par value of $50,000 and a carrying value of $60,500 are re...

A: Cash flow on retirement of bond On retirement of bond there is cash outflows from financing activiti...

Q: Penbirch Electronics manufactures most of the components that make up its products. A company has ap...

A: When business has two alternatives, one is to manufacture the product inhouse and other is to purcha...

Q: As a fraud investigator, why you should be concerned about fraud trials as a result of resolving a f...

A: Answer:-  Fraud investigator :- Fraud investigator is that person who investigates the alleged fraud...

Q: Stark Company's most recent balance sheet reported total assets of $1.74 million, total liabilities ...

A: GIVEN   Stark Company's most recent balance sheet reported total assets of $1.74 milhion, total liab...

Q: For this question, the inflation rates are actual inflation levels (so a 6-month inflation rate incr...

A: The nominal payment for each time is equal to the value of the coupon payment and the inflation-adju...

Q: Limestone Construction purchased a concrete mixer on July 15, 2011. Company officials revealed the f...

A: Depreciation is considered a reduction in the value of asset give two uses of that asset. We can eva...

Q: Required information Trey Monson starts a merchandising business on December 1 and enters into the f...

A: In LIFO method ( Last in first out ) : The inventory bought / purchased last is sold first . The end...

Q: 7 4. Compute the degree of operatingleverage 8 Sales 9 Variable expenses o Contribution margin 1 Fix...

A: The break even sales are the sales where business earns no profit no loss during the period.  Degree...

Q: Gideon Corp. is a reinsurance and financial services company. Gideon strongly believes in evaluating...

A: Solution Residual income  is  income that one continues to receive after the completion of the incom...

Q: A company has earnings per share of $9.00. Its dividend per share is $1.35, its market price per sha...

A:

Q: E15.25 Lead time and safety stock Monitor Ltd uses 780 tonnes of a chemical each year in its manufac...

A: Safety stock: Safety stock is a type of additional stock quantity which is kept by a production unit...

Q: On January 1, 2021, PAPASA BA AKO Company purchased 5-year bonds with face value of P8,000,000 and s...

A: Present Value of Bond = Present Value of Coupon Payments + Present Value of Redemption Value Present...

Q: For each separate case below, follow the three-step process for adjusting the prepaid asset account ...

A: Solution: a.       Prepaid Insurance Step 1: Determine what the current account balance equal...

Q: XYZ prepared a segmented income statement that included the following data for its X marketing segme...

A: The financial statements of the entities are prepared to be analysed and evaluated in order to decid...

Q: What is the book value of the equipment at the end of 5 years if it was bought at P870,000, salvage ...

A: Purchase Cost of Equipment P8,70,000.00 Less: Salvage Value P90,000.00 Depreciable Value (P87000...

Q: A machine has a first cost of P97,198.62 and has an expected salvage value after 10 years P11,240.93...

A: Formula: Depreciation rate = 100 / Useful life years 

Q: The matching concept helps managers provide for more effective operations because it suggests Group ...

A: Ans. Matching concept ensures that all the cost and revenue belonging to a period should be recognis...

Q: What is common stock

A: Common Stock is the total amount paid in by stockholders for the shares they purchase.

Q: Penbirch Electronics manufactures most of the components that make up its products. A company has ap...

A: When business has two alternatives one is to manufacture the product inside and other is to purchase...

Q: Nix'lt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts th...

A: Closing entries are reported in the books to close the temporary accounts such as expenses and reven...

Q: Fasani produces premium bottled water. Fasani purchases artesian water, stores the water in large ta...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: The X division of XYZ Company is currently operating at 60% capacity or 6,000 units. It produces a s...

A:

Q: Suppose that the $ for $ spot exchange rate is 2:1, the 90day forward exchange rate is F = 2:156, th...

A: Exchange rate : Exchange rate is the conversion rate of currency of one country into another country...

Q: Fair value of plan assets, Jan. 1 Contributions to the retirement fund during the year enefits paid ...

A: Fair value refers to those value which to the estimated worth of a company's assets and liabilities ...

Q: Cash Payback Period, Net Present Value Method, and Analysis Elite Apparel Inc. is considering two in...

A: Net present value- The net present value or net present worth applies to a sequence of cash flows oc...

Q: A business purchases $600 worth of furniture. They debit their Furniture Account $600 correctly, but...

A: Lets understand the basics. When journal entry is made which is incorrect then it gets impacted on t...

Q: A corporation ssued NO shares of ns $5 par value common stock an payment of o $2.600 charge trom es ...

A: Introduction:- Issue of shares 180 Par value per share $5 Total par value of shares = 180 x $5=$900 ...

Q: An amount P20,000 is place in an investment for 10 years. How much is the sum of the investment afte...

A: Investment (PV) = P20,000 Interest rate (r) = 7% Period (t) = 10 Years e = 2.71828182845904523536028...

Q: Greek Manufacturing Company produces and sells a line of product that are sold usually all year roun...

A: * As per bartleby policy, if multiple questions are asked then answer first three only.   e. Breakev...

Q: Arlen with 70 shares and Marcy with 30 shares. Colter has E&P of $100,000 and capital stock and paid...

A: Long term  gain means investment provide return over a longer period of time.

Q: Ivanhoe Leasing Company agrees to lease equipment to Shamrock Corporation on January 1, 2020. The fo...

A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...

Q: Mia Wiz sells computers. During May, it sold 300 computers at a $700 per unit price. The fixed budge...

A: Variance analysis is one of the important technique of management accounting, under which budgeted d...

Q: If I bill customer for patient services what is that called

A: If a customer is Billed for patient services, then the revenue will be called SERVICE REVENUE. 

Q: Grygiel Company leases a nonspecialized machine with a fair 20 value of $50,000 to Baker Company. Th...

A: A lease is a contract in which one party agrees to rent an asset—in this case, real estate—from anot...

Q: Byxie and Katey formed a partnership on March 1, 2022 with Byxie investing the following: Inventory...

A: >Partnership is the business entity where there are two or more than two owners, known as partner...

Q: Assume no other adjusting entries are made during the year. a. Unearned Rent Revenue. The Krug Compa...

A: Unearned Rent Revenue: It is a liability account, with its regular balance on the credit side, while...

Q: A. Management has developed a new inventory management system that it projects will reduce company i...

A: The cash would be increased if the inventory would be decreased and accounts payable would be increa...

Q: A company paid $0.82 in cash dividends per share. Its earn dividend yield equals:

A: In this question, we have to calculate dividend yield which can be calculated by dividing the divide...

Q: Swifty Corporation produces flash drives for computers, which it sells for $15 each Each flash drive...

A: Solution: Selling price per unit = $15 Variable cost per unit = $9 Contribution margin per unit = Se...

Q: lthough Goldman Sachs paid Heather $100,000.00 per year, she was not satisfied with her job. She had...

A: Opportunity Cost: The opportunity cost of a specific action choice is the deficiency of significant ...

Q: P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $189,807 for P...

A: The partnership comes into existence when two or more persons agree to do the business and further s...