In which of the following methods, issues of materials are priced at pre-determined rate? None of the above Replacement price method Inflated price method Standard price method Specific price method

Q: On 1 January 2021, Tymba plc has a building with a carrying value of £500,000 which was purchased on...

A: As per  IAS 16, Property, Plant and Equipment Amount that can be transferred from revaluation surplu...

Q: Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an e...

A: Solution:   Flexible budget is the budget based on various level of activity to know what will be th...

Q: The invoice date for a bill is April 14 with the terms 2/15 ROG. If the goods were received on June ...

A: The Receipt-of-goods (ROG) is the method of payment, wherein the date of commencement is the day on ...

Q: Question : 2021 Jan. 1 Rs.200,000 6. Amir started business with capital of Goods purchased from Rehm...

A: Journal entry:   It is the first step of recording transactions of a company. Before this, no other ...

Q: accounting and taxal be in ogual amounts

A:

Q: Oyster Corporation is a publicly traded company that follows IFRS. On December 31, 2019, Oyster's fi...

A: Introduction Pension worksheet is a document maintained by employer to show annual pension expense, ...

Q: PROBLEM B. The following information is excerpts from the Financial Statements of ABC Corporation: 2...

A: Acid test ratio = (current assets- inventory) /current liability Cash ratio = (current assets- inven...

Q: Liabilities P120,000 Equity, end 80,000 Revenues 250,000 290,000 Expenses 1. How much were total ass...

A: The fundamental accounting equation, also called the balance sheet equation, represents the relation...

Q: A machine could be purchased for £800,000; it would be used for 3 years and then sold for £580,000. ...

A: NPV(Net present value) is a capital budgeting technique which is used when the company wants to inve...

Q: Required: a) Prepare the contribution format income statement for last month. b) Compute the breakev...

A: Income statement refers to a statement which shows the revenue and expense of the company of a parti...

Q: Bramble Corp. had the following information in its financial statements for the years ended 2020 and...

A: Rate of return on common stock equity = (Net income - preferred dividend) / Average Common stockhold...

Q: The following budgeted May cash information is available for Salado Corp.: Net after-tax income $2...

A: Dividends  declared will not have any impact on cash flows. Hence it will not be  considered  while ...

Q: Frank works for 7 hours for 5 days a week. He is paid RO 6 an hour for regular time and time and a h...

A: Gross pay is an amount that is used to calculate the wages (hourly) and salary of an employee. It is...

Q: Learning Task 1: Identify or classify the different account titles as to whether they belong to Asse...

A: Assets are divided into two Current assets and Noncurrent assets. Current assets are all the assets ...

Q: Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $11,00...

A: Bad debt recovered should be recorded with an increase in a cash account and a decrease in account r...

Q: ision as discontinued operation. For the year ended December 31, 2022, the disposal group incurred t...

A: Loss from discontinued operation is reported as separate line item below the income from continuing ...

Q: division as discontinued operation. For the year ended December 31, 2022, the disposal group incurre...

A: Trading loss refers to the sum value of principal losses incurred in an account because of reasons s...

Q: Which of the following taxpayers may not use the standard mileage method of calculating transportati...

A: The correct answer is (b)

Q: What is the relationship of inventory at the beginning of year 2022 to net income for the year 2022?...

A: Inventory at the end of one accounting period becomes Opening inventory for the next accounting peri...

Q: Miriam deposite an amount of php89632.37 from abc bank on the 7th birthday of her daughter that pays...

A: Interest is the amount which has been earned by the company or the depositor on the money which has ...

Q: 3: An employer in the U.S. Virgin Islands, employs two individuals, whose taxable earnings to date (...

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

Q: Miller Company's contribution format income statement for the most recent month is shown below Sales...

A: 1) the units  sold increases by 19% then the net increase is 100% +19% = 119% 2) units sold  100%+21...

Q: Problem 2 - Prepare journal entries |Green Plants & Things, Inc. buys merchandise from Palm Tree, LL...

A: Inventory is a very important component of every business, especially those that are involved in the...

Q: This type of financial statement is basically produced by deducting expenses from the revenues of an...

A: Financial Statements: Written documents that communicate information about a company's business oper...

Q: Question 7: Barring any special circumstances, over what age is an individual eligible to receive Me...

A: A person, be age 65 or older, must be having qualifying disability to receive medical benefits

Q: Institution-based view argues that the success and failure of firms are enabled and constrained by i...

A: Institution-based view refers to the view that devises strategic choices as a product of the dynamic...

Q: officers, the company gives divisional management a bonus equal to 15 percent of the excess of actua...

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

Q: What is the effect of omission of accrued income in retained earnings at the end of year 2? a. Unde...

A: A basic Accounting equation is given as under;   Assets = Equity + Liabilities    Meaning,  Total As...

Q: During your audit of the books of Colorado Corporation for the year ended December 31, 2021, you dis...

A: Net income of an accounting period/cycle accounts for all expenses whether accrued (payable) and pai...

Q: Journalize the following adjustments on the worksheet and complete the working papers: (1) The estim...

A: Worksheet is a 10 column sheet being prepared by the accountant for first reviewing unadjusted gener...

Q: Question 13: Louisa is an employee of Maroon Corp. Louisa files as Married Filing Jointly on her tax...

A: Married Filing Jointly: Married filing jointly is a recording status for wedded couples who have mar...

Q: JB Music carries a wide variety of musical instruments, sound reproduction equipment, recorded music...

A: Note:- Since you have posted a question with multiple sub-parts, we will solve the first three sub-p...

Q: Question 9: The Social Security wage base for 2021 is $142,800. Answer: A. O True В. False

A: The correct answer is option (a)True

Q: Estimated Expected Activity Product V Product W Product X Overhead Activities and Activity Measures ...

A: Answer) Calculation of overhead cost allocated to Product X using Predetermined overhead rate based ...

Q: Question 5: The contribution limit for a Payroll Deduction IRA increases once an employee reaches ye...

A: The correct answer is option (c)50

Q: Question 4: Of the cafeteria plans listed, which is NOT a voluntary nontaxable deduction? Answer: А....

A:  In this question we choose that which one is nontaxable deduction.There are four options medicare, ...

Q: The collection of customer’s account is credited to accounts payable. What is the effect of the erro...

A: Following is the effect of the error in assets and liabilities of the entity.

Q: One Device makes universal remote controls and expects to sell 550 units in January, 750 in February...

A: The production budget, also called the manufacturing budget, is a budget that determines the quantit...

Q: ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit De...

A:

Q: Net income at year end will be overstated if O Prepaid expense is not recognized O Accrued income is...

A: Option a is incorrect because if Prepaid Expenses is not recognized, it will increase our expenses w...

Q: Recording of next year's purchases as purchases of the current year will O understate net income of ...

A: Hi student Since there are multiple questions, we will answer only first question. 

Q: Question 10: Which of the following is not a retirement plan? Answer: A. O 401(k) В. O Flexible spen...

A: The correct answer is option (b)Flexible spending account

Q: What is the effect of the error in the net income of the current period and in subsequent period?

A: Payment made to supplier is debited for decrease in balance as accounts payable which is liability w...

Q: Bramble Corp. had the following information in its financial statements for the years ended 2020 and...

A: Rate of Return = Net income / Common stock = (97,900 - 14,300) / (100,900*10) = 8.28%

Q: On January 1, 2022, Isabel Company purchased bonds with face amount of P8,000,000 for P7,679,000 to ...

A: The question is based on the concept of Financial Instruments. Financial Assets are investment asset...

Q: Pine Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the ...

A: Solution..   Net credit sales = $6,500,000  Beginning accounts receivable = $600,000  Ending account...

Q: Prepare the opening balance sheet of Mrs. Wallace.

A:

Q: ABC Company issued 50,000 shares for P100 per share. Par value of the shares is P10. During the year...

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from...

Q: Coronado Candies paid employee wages on and through Friday, January 26, and the next payroll will be...

A: >Adjusting entries are recorded, as part of completion of accounting cycle. >These are mad...

Q: PSb 5-2 Determine the Taxable Earnings Subject to FUTA Tax For each of the described pay periods, de...

A: Taxable earnings are the amount of earnings that are subject to tax rate specified in the laws.