INDICATE THE ORDER IN WHICH THE GIVEN STEPS ARE EXECUTED. BRIEFLY EXPLAIN

Q: 4. The following investment portfolio of equity securities (all acquired during 2019) accounted for…

A:

Q: If you are the accountant of ABC company. At the end of 2020 the cash balance per book was $10,000…

A: Introduction:- Bank Reconciliation statement comparing the transactions recorded in the company's…

Q: Use Service-Output Method. A Machine costs ₱80,000 and an estimated life of 10 years with a salvage…

A: Introduction: Service Output Method also known as Working Hours Method. The formula for Working…

Q: ustrial machine costs $124000 and is expected to earn annual net cash inflows as per the following…

A: NPV if the business sets their required rate of return at 11%  Year Cash flow DF@ 11% Discounted…

Q: o ente

A: Liabilities are accumulated financial obligations that result from past events that are expected to…

Q: Provide the best word/s to describe each of the statements below. In your answer book you need only…

A: Business is referred to as a economic activity where exchange of benefits take place between the…

Q: Exquisite Décor, LLC, a seller of decorative house wares based in New York, imports and sells…

A: Here discuss about the dutiable value which are involved in the shipment which includes commission…

Q: If the ending inventory is valued at $80, what inventory cost flow assumption was usec O A. Average…

A: Introduction:- Inventory valuation methods used find out amount of value  unsold inventory stock at…

Q: In which of the following situations would observation not provide the most compelling audit…

A: Introduction:- Audit evidence includes all of the information used by the auditor to support the…

Q: Record a transaction money charged on a account

A: A transaction is the amount of value for a product or service. Regardless of when money is received…

Q: 1. A Machine costs P80,000 and an estimated life of 10 years with a salvage value of P5,000. What is…

A: Note:Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: 18. Troy's Tire Mart has a replacement value of $965, 000 and is insured for $588, 000, with an 80%…

A: Introduction: A loss is defined as an increase in costs above revenues, whether for a single…

Q: Prepare a departmental flexible overhead budget for 30,000 machine hours and for 40,000 machine…

A: Zain, Inc., is developing flexible budgets for each department as part of its plan to use standard…

Q: Budgeting Inventories For each independent situation below, determine the missing amounts:

A: In this question, we have to find out the budgeting inventories where we can find available…

Q: ENN Corporation has interest expense of P16,000, sales of P600,000, a tax rate of 30%, and after-tax…

A: Times interest earned ratio = Earnings before interest and tax/interest  expense  where, Earnings…

Q: 54. In relation to transaction #1, How much is the capital gains tax due, if any? A. PO C.…

A: Capital gain refers to the concept where the profit earned on the asset sale which has increase in…

Q: On October 1,2021 Steve Company borrowed $500,000 from its parent, Pam Company, at an annual…

A: Intercompany loans are made from one business unit of a company from another business unit.…

Q: An auditor's objectives in evaluating accounting estimates include all of the following except to…

A: Audit:   It is a procedure for examining a company's financial statements. The goal of auditing is…

Q: ax purposes. 2) Estimates are used. 3) Determining worthless accounts un

A: Bad debt expenses: Customers that refuse to pay their account balances may be encountered by…

Q: Prepare the necessary closing entries. (List a ic torod Do not ont manualh, If n

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Peter's Records purchases a new desktop computer for $8,900, on the 1st January 2020 The computer is…

A: Straight line rate = 1 / useful life = 1 / 5 = 20% Reducing balance rate = 2 x 20% = 40%

Q: The preference dividends are in arrears for 2019, 2020 and 2021. Treasury ordinary shares, 10,000 at…

A: Where preference shares are cumulative, they have right to receive arrear dividend if any.…

Q: Cash balance per books, September 30 $5,300 Deposits in transit 510 Notes receivable with interest…

A: Introduction: Bank Reconciliation statement: To reconcile the difference between cash book balance…

Q: ara Corporation issued a promissory note denominated in foreign currency for the purchase made from…

A: Solution Concept in respect of the monetary assets and liabilities , there shall be initial and…

Q: the taxpayer withheld 5% creditable withholding tax on rental payments to various VAT-registered…

A: Rent expense: Rent expense is an expense account that keeps an update of the cost of renting a…

Q: 2. Prepare a cost of goods sold budget for Play-Disc for the year. Play-Disc Cost of Goods Sold…

A: The cost of goods sold is calculated as difference between total cost of goods available for sale…

Q: In testing for lower-of-cost-or-market, the auditor is gathering evidence to support which of the…

A: The audit is an examination of the financial statement of the company that helps to find the errors…

Q: Lil Wayne Corporation received dividends from ordinary shares (15% interest) and preference share…

A: Dividend refers to the amount distributed to the shareholders from amount earned during the…

Q: Question. A calendar-year taxpayer spends $10,000 in December on a file server and peripherals. The…

A: Straight-line depreciation is the depreciation method for recognizing the carrying amount of a fixed…

Q: Discuss how the qualitative characteristics of financial information apply to Company as it pertains…

A: Meaning of Accounting: It is the systematic process of identifying, measuring, recording,…

Q: Jaybo Company purchased the following portfolio of equity instrument designated as fair value…

A: Unrealised gains or losses are those gains or losses, which are not realised yet. These are only…

Q: Question 2: On 1/1/2019, P Company acquired 80% of S company for a price of 160'000 JD cash. The…

A: Consolidated financial statements are financial of an entity with multiple divisions or…

Q: Question 3 (5%) Inventory data for Hot Buys Company for January 2020 are as follows: January I…

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.  Using…

Q: Statement 1: It is not always necessary to identify both fair value less cost to sell and value in…

A: The Correct Answer is Option "D" i.e "Both Statement are Incorrect

Q: On January 1, 2022, Old Corp. paid P500,000 for 20,000 shares of Hannah Corp.'s ordinary shares and…

A: Held for Trading security means a debt or equity investment that investors purchase with an…

Q: Vhich of the following statements about adjusting for accruals is false? It will increase the values…

A: The accrued expenses are the expenses incurred but not paid yet. The accrued revenue is the revenue…

Q: The main purpose of the auditor's consideration of internal control for a non-SEC client is to A.…

A: Audit of internal control is conducted by auditors to assess its efficiency and effectiveness and…

Q: Exercise 2 Several controls currently used at the Ayuyao Inn are listed below: Preventive/…

A: The preventive controls are established to decrease the probability of arising fraud and errors…

Q: .25 per unit 9 Sal

A: The income statement is given as,

Q: Gerardo de Guzman has a taxable compensation income of Php 135 000. He is single with two qualified…

A: As per Philippines laws, there is a mandatory deduction for up to four dependent children of an…

Q: On January 1, year 1, P Company sold a machine for P900,000 to S Company, its wholly owned…

A:

Q: QUESTION 25 How long must a capital asset be held to qualify for long term treatment? O A. Six…

A: As per IRS  An capital asset is qualified for short term or long-term treatment on basis of time…

Q: On December 31, 2021, WHITE Company reports the following amounts in its shareholders' equity…

A: The book value per share is calculated as shareholders' equity divided by number of issued and…

Q: Gaffney Corporation is a wholesale distributor of auto parts and uses the cash method of accounting.…

A: Here discuss about the details of the threshold limit which are related with the cash method…

Q: pany leased a new machine from Keriboomboom Company on January 1, 2016, under a lease with the…

A: Solution:- As per FASB and GAAP, a lease is classified as capital lease if any of the following four…

Q: that she is 67 years old, how much of the annuity will be taxable?

A: The taxable portion out from the annuity which has been received is the portion which is in excess…

Q: January 15, 2022; 5,000 balls @ P28 Sales: January 5, 2022; 4,500 balls January 20, 2022; 5,200…

A: Valuation of inventory may be based on :   LIFO , FIFO , Average cost

Q: Oct. Nov. Estimated sales (units) 25,000 25,000 27,000 27,500 28,000 Sales price per unit…

A: The production budget is formed from a combination of the sales forecast and the intended amount of…

Q: y consumption for refrigeration. WH the inventory of ribeye steaks this y for ribeye steaks stay the…

A: The EOQ is given as, EOQ = square root of ( 2 × demand × order cost/holding cost) It is given that…

Q: Prepare a departmental flexible overhead budget for 30,000 machine hours and for 40,000 machine…

A: A flexible budget adjusts to changes in actual production levels. Actual production or other…

Portfolio Management

Portfolio management is the process by which an investor decides that how the person will invest in a variety of assets in order to get a desired return in the future. A portfolio means a pool of assets that includes securities, bonds, and other investment instruments which helps in risk minimization of the money that has been invested. In other words, it can be said that a portfolio means a combination of assets in which an investor decides to invest their money in order to get a lump sum return in the future or even a series of cash flow that the person is expecting at the end of their job life.