incorrect related to the purchasing and cash disbursement cycle?

Q: XYZ Company lent $9,000 at 10% interest on December 1, 2019. The amount plus all interests accrued w...

A: Formula: Interest amount = Loan amount x Interest rate x Time period

Q: Se and Xy are partners agreeing to allow monthly salaries of P6,000 and P5,000, respectively; 6% int...

A: Interest on Se capital = P300,000 x 6% = P18,000 Interest on Xy capital = P230,000 x 6% = P13,800 An...

Q: ). In a certain British Company the basc pay og a mechanical engineer as sales engineer as sales eng...

A: Amount received per week = Basic pay per week + commission received on sales  Here basic pay is fixe...

Q: elp with this one please

A: In this question we have to find out different variances.

Q: determine its capitalized cost.

A: Capitalized cost is the cost which is measured by the company which is equal to the present value of...

Q: Accounts payable for suppliers, goods, and services purchases on open account amount to P1,670,000 a...

A: The final closing balance of a particular account arrived by making required adjustments for the err...

Q: The contribution margin ratio of Donath Corporation's only product is 65%. The company's monthly fix...

A: Solution..   Contribution margin ratio = 65%  Fixed cost = $573,300  Target profit = $9,100  Target ...

Q: Prepare the income tax section of the 2021 income statement beginning with the line "Income before i...

A: Current year income tax expense= 126000*25% = $ 31500

Q: Juanita Company must decide whether to make or buy some of its components for the appliances it prod...

A: Variable cost means the cost which vary with the level of output and fixed cost means the cost which...

Q: The contribution margin ratio of Donath Corporation's only product is 65%. The company's monthly fix...

A: Contribution margin ratio = 65% Fixed expense = $573,300 Target profit = $9,100  

Q: BC INC product is currently produced at 10 materials, 40 labor and 15 overhead. If automation is imp...

A: >Incremental cost is the additional cost that gets incurred if an alternative decision is taken. ...

Q: F I McC On April 1, Cyclone Company purchases a trencher for $280,000. The machine is expected to la...

A: Depreciation is the allocation of cost of asset over the useful life of the asset. There are several...

Q: A company that makes records have a monthly cost of $7,449 to run their factory. If it costs them $2...

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

Q: Use the following to answer questions 1–4 JT Company purchased land as a factory site. An old buildi...

A: The cost incurred during the period should be accounted for the period which it relates and for the ...

Q: A company that makes records have a monthly cost of $7,449 to run their factory. If it costs them $2...

A: Break even point in units = Fixed costs /Contribution margin per unit  where, Contribution margin pe...

Q: Ming Company had income of $771,200 based on variable costing. Beginning and ending finished goods i...

A: For calculating income under absorption costing from income under variable costing we have to includ...

Q: rucking fleet. The company performed a major overhaul on one of its trucks in the amount of $50,000 ...

A: The expenditure that increases useful life of assets (Property, Plant and Equipment) or leads to inc...

Q: non-deductible SEC penalty. is 21%. Calculate the effective calculations.

A:   Book Income before Tax   $        420,000 Municipal Interest  $          30,000 Non deducti...

Q: Click here to access the TVM Factor Table calculator. Capitalized cost Conventional %24 million desi...

A:     Year  Convention Plan  Year 2nd Design Installation Costs   27.5   85           R &...

Q: Question a Vaasa Chemicals makes a product by way of two processes - Mixing & Refining. Its process ...

A: Inventory- Inventory is the accounting of substance, constituent parts and raw resources that a ...

Q: John was dealing with plastic pipes and given the information pertains to the year ended 2020. Pass ...

A: Basic transaction of an entity will be recorded in the books of accounts through journal entries in ...

Q: Sagar Manufacturing Ltd. manufactures 2 products A, B. Also there are 2 activities (Quality Checks a...

A: ABC (activity-based costing) is a method of allocating overhead and indirect costs, such as salaries...

Q: Find the future value of the ordinary annuity. Interest is compounded annually. R=8000; i=0.07; n=15...

A: Future value of ordinary annuity = P x [(1 + i)^n - 1]i   where, P = Annuity amount i = rate of inte...

Q: Bennet Company purchased a patent from Arnold Company on January 1, 2021 for $450,000. Arnold Compan...

A: Patent: A patent is an amortizable, elusive resource that allows a business the sole right to make a...

Q: Justine Corporation uses a standard cost system. Direct labor information for product. Ten for the m...

A: The variance is the difference between the actual data and standard output of the production. 

Q: The average price of gasoline in 2021 was $1.26 per liter. In 2001, the average price was $0.36. Wha...

A: The question is based on the concept of Financial Management.

Q: On June 30, 2024, LN Bean issued $25 million of its 8% bonds for $23 million. The bonds were priced ...

A: Interest expense is the amount of charge which is paid by the person who uses the funds. In this cas...

Q: xplanati

A: Given: The benefit pension plan balance is given as, Projector benefit obligation  $4,485,500 Fair v...

Q: A company's correct ending balance for the inventory account at the end of 2021 should be $5,000, bu...

A: Ending inventory of 2021 is understated by $2,000. This means beginning inventory of 2022 is also un...

Q: Dec. " pene Lee Ly had Cash Dec. 1 Derecitn tpe Aum Depeciation merts x P tacter t paymerts tepene F...

A: The entries have been prepared below.

Q: 1. Calculate the variable overhead spending variance using the formula approach. (If you compute the...

A:

Q: 15. Noreen Company provided the following information for 2020: Accounts receivable - January 1 Cred...

A: Amortized cost of Accounts receivable = Ending Accounts receivable - Estimated uncollectible account...

Q: Determine the taxable income of each of the following dependents for 2020. d.   Eva is 15. Her inco...

A: Given that Eva age is 15, since her age is below 19 she can be treated as qualifying child.

Q: Distinguish between Tax Exemption and Tax Amnesty?

A:

Q: What is Situs of Taxation? Give at least three (3) examples.

A: Individuals' earnings from more than one country or business or profession get confused about which ...

Q: ng order: First, Ta is to receive 10% of net income up to P100,000 and 20% over P100,000, Second, Li...

A: Partnership refers to the legal form of agreement between two or more entities who mutually decide t...

Q: As You Read QUESTION What could happen if your employer did not deduct federal income taxes from you...

A: Introduction:- A paycheck, also known as a paycheck is a paper document issued by an employer as pay...

Q: The following information is available from the accounting records of Spenser Co. for the year ended...

A: Gross profit and net income are two critical profitability metrics for every company. After subtract...

Q: Madden Industries manufactures equipment for sale or lease. The equipment has a fair value or "selli...

A: Madden Industries- Lessor Cost of Equipment = $ 450,000 Fair Market Value= $ 600000 Wishes to ear 12...

Q: Pharoah Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The...

A: Lower of cost or net realizable value is the method to calculate the ending inventory balance. It is...

Q: 1. On 1 January 2015 ABC Company issued 1000 7% convertible debentures to Company XYZ at par value o...

A: Introduction Convertible debentures are the debt instruments which has a option of conversion into c...

Q: 6. Gan and Da are partners who share profits and losses in the ratio of 60% : 40%, respectively. Ga...

A:                               Facts of the case :-   Gan & Da shares profits and losses in the r...

Q: pany is y=48x+1,500,000. The total break ev

A: Breakeven point is the point where the contribution and fixed cost are equal. There is no profit or ...

Q: CONSOLIDATED FINANCIAL STATEMENTS INTERCOMPANY SALE OF FIXED ASSETS PROBLEM J. Peter Corporation own...

A: When a company acquires any interest in another company through purchase of its shares the consolida...

Q: Bob and Jeri are married. Their grandson Colin, whose parents are deceased, is a 21-year old student...

A: Bob and Jeri cannot claim status of head of household as they are married so their filling status wi...

Q: Lauren's basis in Driftwood Partnership is $635,000. Driftwood distributes all the land to Lauren in...

A: If Driftwood does not have a 754 election in effect at the time of distribution, Driftwood will have...

Q: Assume the labor rate variance is $400 unfavorable and the labor spending varlance is $200 unfavorab...

A: Solution. Labor rate variance = $400 Unfavorable  Labor spending variance = $200 Unfavorable  Labor ...

Q: ) The option is currently a.) In-the-money b.) At-the-money c.) Out-the-money 2.) In/At/Out- the...

A: In call option contract, if the market price of a stock is above the strike price, then option is in...

Q: When you purchase your car, you take out a five-year annual-payment loan with an interest rate of 5....

A: Here we will first have to determine the amount of loan taken. We are provided with annual payments,...

Q: 10. Chop and Suey are partners who share profits and losses after salary and interest allowances in ...

A: Suey is getting interest on capital P4,000 and Salary P10,000  But his total Share is P40,000.  Diff...