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Q: Name and briefly explain four methods of depreciation.                                              ...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: Receivable turnover ratio for a firm is 5. How long the firm takes to collect the dues from customer...

A: Days receivables outstanding simply means the time taken by an entity to collect the dues from the c...

Q: Which of the following states that a transaction is not recorded in the books of accounts unless it ...

A: The accounting system is based on various accounting principles. 

Q: Which one of the following statement is TRUE? a. Cash is non-current asset b. Outstanding expenses...

A: Current assets = Assets which are assets expected to be used in one year are current assets. Non Cur...

Q: Unearned revenue is: a. A liability account. b. All the options are wrong c. An asset account. d...

A: Unearned revenue is the cash received in advance for the work to be done in the future.

Q: Koffman's Warehouse purchased a forklift on January 1, 2017, for $6,000. The forklift is expected to...

A:

Q: Process costing is used to account for: Answer A. finished goods that are refined and processed furt...

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost, a...

Q: Based on the Adjusted Trial balance provided relating to Alpha Company for the year 2020, Prepare Fi...

A: Net Profit = Total Revenues - Total Expenses

Q: On 1 January 2018, LFC Bhd acquired a fast food franchise  for RM300,000. The legal life of the fran...

A: Journal entry on 31st december 2018 Particulars Debit Credit Franchise asset A/C Dr 300000   ...

Q: Bogart Company is considering two alternatives. Alternative A will have revenues of $160,000 and cos...

A: Incremental revenue, cost, and net income are the difference between alternative 1 and alternative 2...

Q: Classify the items listed below either as capital or revenue expenditure.             Fittings part...

A:  Capital expenditure is the cost incurred in one period, the benefit of which extends to more than o...

Q: Osborne Manufacturing produces self-watering planters for use in upscale retail establishments. Sale...

A: Production Budget = Sales units + closing stock - openings stock

Q: Which method tracks the actual physical flow of goods and each item of inventory is marked, tagged, ...

A: The correct option in no. 1 question is d. Specific identification method  

Q: Match the pattern of development in column A to the transitional device in column B. Write only the ...

A: The question is related to match the pattern of development in column A to the transitional device i...

Q: I need help for the following problems

A: The numerical has covered the concept of Accounting Ratio. Accounting Ratios are Useful tool to anal...

Q: Which of the two methods of estimating uncollectible provides for the most accurate estimate of the ...

A: The uncollectible debts allowance represents the estimation of the management regarding a portion of...

Q: The every 2 months payments are $ (Round to 2 decimal places.)

A: Given,  Amount = A = $ 64,000= A = $ 64,000  Time period = t= 12 yearst= 12 years  Frequency of depo...

Q: Ms Nihal Purchased headsets for her business on 1st October worth RO 1500. On 1st November, 2020 she...

A: It is pertinent to note that supplies account is a current asset . It includes Printing and statione...

Q: Kindly assist with this problem.   Thank you.

A: In all cases, the maximum Keogh contribution is limited to the lower of $53,000 or 25% of earned inc...

Q: Please see attached image for question thank you

A: when the company uses the straight-line method of depreciation for financial reporting purposes and ...

Q: A company has 4 production facilities. Each facility is eligible to produce Product A, Product B or ...

A: Given data, 

Q: Accounting Question

A: In absorption costing , fixed manufacturing overhead will be included in stock valuation where as in...

Q: Mr. Abdullah a sole trader, pays shop rent for 11 months during the accounting period. Which among t...

A: Ans. Mr. Abdullah has paid 11 months rent out of the 12 months of an accounting year. 

Q: Given the revenues and expenses of a business, net loss will result if: a. All the above situations...

A: Revenue means the amount earned by selling the goods or services. Expenses means the amount spent on...

Q: A firm total assets turnover ratio increased from 1.5 to 2.0 it's profit margin (PBIT margin) declin...

A: Asset turnover ratio is the ratio of sales revenue to total assets of the business, it means how muc...

Q: When the payment is made to creditors, it would result in which among the following? a. decrease re...

A: Creditors are the persons to whom the entity has to pay some due money.  

Q: The book where transactions related to a particular account is summarized. a. Trial balance b. Gen...

A: Accounting is the process using which all the monetary transactions are reported, summarized, classi...

Q: Kentucky Corporation uses a process-cost accounting system. The company adds direct materials at the...

A: Direct material is amount of material used directly in the process of production. Conversion costs a...

Q: Benoit Manufacturing Company manufactures and sells parts for various musical gadgets. The following...

A: d) Margin of Safety (in units) = Actual Sales unit - Break even Sales Unit                         ...

Q: Original Machine Sinitial cost = 94210 SAnnual depreciation = 10876 SPurchased 5 years ago SBook Val...

A: The question is replacement problem of capital budgeting. The details of both the machine are given ...

Q: On January 1, 2020, Rosal Company issued a 3-year, 4,000 convertible bonds at face value of P1,000 p...

A: Given    Time  to maturity              =3 years   No. of  convertible bonds   = 400    Face value  ...

Q: (a) Explain clearly the difference between capital expenditure and revenue expenditure.   (b)       ...

A: Classification of expenditure depends upon the nature of business like selling motor vehicles will n...

Q: Which among the following is considered as an expense? a. Accounts payable b. Rent expense c. Sal...

A: Expenses means the amount spent on running the business.

Q: How much is the consolidated profit? A. 216,750B. 123,250C. 173,150D. 124,750

A: The merger is a process in which the acquirer company obtains control over the acquiree company. Whe...

Q: (AUTHORIZATION MATRIX) The following are the authorized signatories for Serrano Company: Mr. A. Ser...

A: Authorization matrix refers to the authority and responsibility assigned to particular profiles and ...

Q: What is the Journal Entry for both transactions: ABC received $300,000 in cash for issuing 10,000 sh...

A: Please find the answers to the above questions below:

Q: Milner Company is working on two job orders.  The job cost sheets show the following. Job 201 Job...

A: Total material= $7200+$9000=$16,200

Q: On which financial statement would the Supplies account appear? a. Statement of Cash flows b. Inco...

A: Supplies: Supplies account is reported in the balance sheet when it is in the stock. When supplies i...

Q: The accounting concept that requires financial information to be supported by independent, unbiased ...

A: Accounting is a process of identifying, recording, classifying, summarising, analysing and circulati...

Q: Cornerstones of Cost Management 4th Ed. - Chapter 4   Scenario II: Goodmark Company produces two typ...

A: Overhead variance is the difference between actual overhead incurred and applied. Overhead Variance ...

Q: How do you close adjusting entries for merchandisers? Problem: The company's adjusted trial balance ...

A: closing entries are passed to close the revenues and expenses accounts and dividend account. Balance...

Q: Cornerstones of Cost Management 4th Ed - Chapter 4   Scenario III: Goodmark Company produces two typ...

A: Overhead rates has to be calculated on the basis of direct labor hour in case of Cutting & on ba...

Q: Among these, which item is used as the base for preparing unadjusted trial balance? a. General Ledg...

A: The correct option is  a. General Ledger 

Q: Zion Ltd. has reported the following figures in their books of accounts. Sales of OMR 10000, Carriag...

A: Net sales = Sales - Sales Discount - Sales return  Note - Carriage inwards is part of the purchase a...

Q: Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING...

A: Debtors Turnover Ratio = Net Credit Sales / Average Debtors

Q: M Corp. recorded a finance lease in February of Year 1 using an annuity due present value table. The...

A: Please find the answer to the above questions below:

Q: Process costing is used to account for: Answer A finished goods that are refined and processed furth...

A: Process costing is the technique of determining costs whereby goods are produced in large numbers.  

Q: On 1st October 2020, Halifax sold units with a total sales price of £500,000 to a single large custo...

A: Revenue recognition refers to the timing and amount of the revenue that is to be recorded in the fin...

Q: It is the process of transferring the entries recorded in the journal to the respective accounts ope...

A: After journalizing, all the transactions entries are posted into the respective general ledger accou...

Q: Find the future value of an annuity of $1200 paid at the end of each year for 10 years, if interest ...

A: FV of Annuity = C(1+i)n-1/i   Where C= Cash flow per period i= Interst rate n= No. of Payment

Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.