junior banker's salary at Pans bakery has increased to $110,000 per year. This is an example of the: a . ordinal scale b. ratio scale c . interval scale
Q: rs are the allocation base. Carter is considering switching to an ABC system by splitting its manufa...
A: A.The indirect manufacturing costs assigned to Product A under the traditional costing system =1,00,...
Q: Esquire Comic Book Company had income before tax of $1,350,000 in 2021 before considering the follow...
A: Income statement is the financial statement which is prepared by the entities to depict the profitab...
Q: Cost 500,000.00 1,285,000.00 20,000.00 Retail 725,000.00 Inventory, 12/31/2021 Purchases Purchase re...
A: Cost ratio is the percentage of cost price of inventory to its retail price. It shows the percentage...
Q: The chart of accounts must be tailorod to an organizations spocific needs. Discuss how the chart of ...
A: Answer: Chart of accounts is the set of the financial accounts that is generally used by any organiz...
Q: FDN Company paid employee wages on and through Friday, January 26, and the next payroll will be paid...
A: Wages expense per day = Total wages for a week / No. of working day in a week Accrued expense at the...
Q: The following information relates to CEE Company: (Refer to image). Assume that the company uses the...
A: Retail inventory method is used by the retail operations like department stores to value the invento...
Q: FDN Company reported Accounts Receivable of P10,000,000 on December 31, 2021. Allowance for Doubtful...
A: Total estimated uncollectible accounts = Accounts receivable x Percent uncollectible Allowance for d...
Q: DN Company reported the following on December 31, 2021, before adjustments: ACcounts Receivable P19,...
A: Solution Given On December 31 2021 before adjustment Accounts receivables 19000000 Allowan...
Q: The following information pertains to Sheridan Company: Cash $21,500 Accounts receivable 125,...
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for you...
Q: Mr. Lim ran for a government position during the country’s 2019 elections. He received campaign fund...
A: All candidates, political parties, and party-list groups are required to remit 5% creditable withho...
Q: a. summary account. b. special account. c. pass-through account. d. controlling account. to reduce t...
A: The Controlling account in the general ledger summarizes the balances of all the accounts in a parti...
Q: December 31, 2017, Raja Corporations's balance sheet reported the following: Stockholders' Equity mm...
A: Solution Concept Cost method of accounting for treasury stock While using the Cost method of account...
Q: On January 1, 2020, Swifty Corporation issued $450,000 of 7% bonds, due in 8 years. The bonds were i...
A: Introduction:- The act of recording or keeping track of any financial or non-financial action is kno...
Q: Selected transactions for Marigold, an interior decorator corporation, in its first month of busines...
A: Introduction:- The act of recording or keeping track of any financial or non-financial action is kno...
Q: The Shoe Place sells a style of shoes for $110. Their overhead is 24% of cost and the normal operati...
A: Answer: Sales = $110 Overhead = 24% of cost Profit = 18%
Q: ugust the following
A: Net sales are calculated by deducting sales discount, sales ret...
Q: Exercise 17-11 (Algo) Computing product cost per unit using plantwide method and activity-based cost...
A: The activity based costing is used to apply overhead cost to products on the basis of different acti...
Q: The following information is available for the pension plan of Vaughn Company for the year 2020. A...
A: Solution:- Preparation of the journal entry to record pension expense and the employer’s contributio...
Q: On March 1, AYE Merchandising had an inventory of P560,000 in its retail store. Purchases made in Ma...
A: Loss by Fire - Loss by fire or any other natural calamities is an extraordinary loss for the organiz...
Q: Seattle Transit Ltd. operates a local mass transit system. The transit authority is a state governme...
A: Regular far =$ 3.3 per trip Full cost = $ 5.3 per trip Senior citizen price = 63 cents per trip Also...
Q: Identify the items from the following list that are likely to serve as source documents. Is this a I...
A: >Accounting cycle is the flow or steps carried out to complete the accounting process. These are ...
Q: Which of the following statements related to multiple-step Statement of Profit or Loss is not true? ...
A: A multiple-step income statement reports a company's revenues, expenses and overall profit or loss f...
Q: What is the carrying value of Land after the recognition of the impairment loss?
A:
Q: On December 31,2021 the end of the fiscal year, Califonia Mircotech Corporation completed the sale o...
A: Net profit is calculated by deducting the expenses from the revenues of the company.
Q: San Jose Company operates a Manufacturing Division and an Assembly Division. Both divisions are eval...
A: Given , Total capacity of Manufacturing department = 408000 units So , If the department is not work...
Q: Bertrand Incorporated purchased some shop equipment for $4,500 in cash. By mistake, the journal entr...
A: Correcting entries means a journal entries made to correct the error made in the previous journal en...
Q: Comparative financial statement data for Oriole Corporation and Pharoah Corporation, two competitors...
A: Net income refers to the earnings of the company after accounting for all the operating and non-oper...
Q: Below is an incomplete Statement of Financial Position for a company at the end of 2020. ...
A: As per batleby policy if there are more than 3 subparts then we are allowed to do only first 3 sub...
Q: *P6.8 (LO 5), AP Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetua...
A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.
Q: The current assets of FDN Company's Statement of Financial Position would have the following: Trade ...
A: Current assets: Current assets are all those assets that are expected to be sold or used as a result...
Q: he worksheet consisted of five pairs of debit and credit columns. The amount of one item appeared in...
A: Answer: There is always double entry effect and one single entry can be reflected on both income sta...
Q: Unit Selling Price Units Unit Cost nuary 1 arch 7 ly 15 250 P10.50 11.00 200 275 11.75 (120) (55) [2...
A:
Q: 1. On December 31, 2019, what is the consolidated net income? 2. How much is the carrying value of g...
A: William Corp has acquired 80% shares of Kate company and hence is the holding company of Kate Compan...
Q: Determine the total manufacturing cost and cost per unit for each of the two product lines for the q...
A: Overhead cost allocation: It is the process of allocating the estimated overhead of a company to its...
Q: Problem 14-10 (IAA) Glamor Company provided the following data: Beginning inventory Cost Selling pri...
A: Computation of the cost of ending inventory and average cost are as follows:
Q: A company makes the payment of a one-year insurance premium of $4,440 on March 1, 2019. Exercise...
A: In the given question, the company has paid one-year insurance premium on March 1, 2019. Out of tota...
Q: On January 1, 2020, Skysong Corporation issued $660,000 of 9% bonds, due in 8 years. The bonds were ...
A: Bonds payable are one of the sources of finance and are shown as liability. If the interest rate is ...
Q: Based on the data in Table 11.10 determine:a) How many weeks of fin ished goods were on hand at the ...
A: Inventory turnover days is the number of days in which inventory is sold or held by the business dur...
Q: Differentiate using an example company’s primary revenue and secondary revenue, company’s primary ex...
A: Revenue refers to the funds generated by an entity through its direct or indirect business operation...
Q: Transactions that affect inventories on hand have an effect on both the Statement of Financial Posit...
A: Note:- Since you have asked multiple questions, we will solve the first question for you. If you wan...
Q: Calculate the Payback Period (PBP) for Machine B assuming cash flows are received evenly throughout ...
A: Solution Given ARR Payback period NPV @ 6% IRR pa Machine A 25% 2.9 years 1...
Q: Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter whic...
A: Cash budget refers to an estimation of cash inflows and outflows in a business over a specified peri...
Q: Even if the post-closing trial Q1:balance balances, there is no guarantee that the closing of the no...
A: Trail balance sheet is a list of all general ledger account, trail balance check mathematical error ...
Q: purchased furniture £5400 for sale on credit from home ltd
A: solution transaction given purchased furniture £5400 for sale on credit from home ltd It means that ...
Q: LEM 12. X, Y and Z are partners with average capital balances during 2020 of P120,000, P60,000 and P...
A: Capital account change of Partners is the sum of interest on capital , Salaries and residual incom...
Q: Husserl Company included a coupon in each box of its cereal. For every 10 coupons returned by a cust...
A:
Q: Prepare the journal entries to record the following transactions on Pharoah Company's books using a ...
A: The systematical recording of all monetary business transactions is called a journal entry. They are...
Q: Selected transactions for Marigold, an interior decorator corporation, in its first month of busines...
A: Increase in assets should be debited and decrease in assets should be credited. Increase in liabilit...
Q: Required: Prepare the CLOSING ENTRIES on Februry 28, 2015
A: Adjustment Journal Entry The purpose of recording adjustment journal entries which provides more acc...
Q: xes from Jeremy’s paychecks during the year. Jeremy has one qualifying dependent child (age 14) who ...
A: Child tax credit refers to the benefit provided to the guardian of the children in order to decline ...
The level of management help in measurement .There are qualitative and quantitative analysis.
Ordinal is arranging in order.
Step by step
Solved in 2 steps
- Discuss how each of the following transactions for Watson, International, will affect assets, liabilities, and stockholders equity, and prove the companys accounts will still be in balance. A. An investor invests an additional $25,000 into a company receiving stock in exchange. B. Services are performed for customers for a total of $4,500. Sixty percent was paid in cash, and the remaining customers asked to be billed. C. An electric bill was received for $35. Payment is due in thirty days. D. Part-time workers earned $750 and were paid. E. The electric bill in C is paid.This year, a business bought $10,000,000 worth of products from its suppliers. Its accounts payable balance shown on the balance sheet is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its accounts payable to increase by $300,000. This year's average payment period is ______.Mohammed LLC is a growing consulting firm. The following transactions take place during the current year. A. On June 10, Mohammed borrows $300,000 from a bank to cover the initial cost of expansion. Terms of the loan are payment due in four months from June 10, and annual interest rate of 6%. B. On July 9, Mohammed borrows an additional $120,000 with payment due in four months from July 9, and an annual interest rate of 10%. C. Mohammed pays their accounts in full on October 10 for the June 10 loan, and on November 9 for the July 9 loan. Record the journal entries to recognize the initial borrowings, and the two payments for Mohammed. If an amount box does not require an entry, leave it blank. Round intermediate calculation and final answers to the nearest whole dollar. June 10 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 July 9 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 Oct. 10 fill…
- Discuss how each of the following transactions for Watson, International, will affect assets, liabilities, and stockholders’ equity, and prove the company’s accounts will still be in balance. An investor invests an additional $25,000 into a company receiving stock in exchange. Services are performed for customers for a total of $4,500. Sixty percent was paid in cash, and the remaining customers asked to be billed. An electric bill was received for $35. Payment is due in thirty days Part-time workers earned $750 and were paid. The electric bill in “C” is paid.At the beginning of the year, ABC's Accounts Payable balance was $75,000. During the year ABC paid its suppliers $9,710,000 and at the end of the year the firm's Accounts Payable balance owed was $165,000. How much did ABC purchase on credit over the course of the year?Listed below are eight transactions. In each case, identify whether the transaction is an example of financing, investing, or operating activities and which of the financial statements it would affect.1. Company borrows $50,000 in cash, signing a 10-year note payable.2. Twenty units of inventory are purchased from suppliers on account for $12,000.3. The utility bill is paid at the end of the month, $5,200.4. Services are performed, and customers are billed for $13,000.5. Five parcels of real estate are purchased, for a total of $55,000 in cash.6. A long-term investment in an equity security is sold for $4,500 cash.7. Principal payments are made on outstanding debts.8. Cash is received from customers for services completed in a previous period.
- Rick’s Travel Service has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales are $7.5 million, total debt is $3.00 million, debt ratio is 55 percent, and ROE is 17.2 percent. Using the above information, calculate Rick’s ROA. (Round your answer to 2 decimal places.) ROA _________ %During March, Perpetual Envy Inc. provides $20,000 in consulting services for a customer. The customer paid $10,000; the other $10,000 was on account. Which of the following statements about these transactions is correct? Multiple Choice Cash increases by $10,000, Consulting Revenue increases by $10,000, and Accounts Receivable increases by $20,000. Accounts Receivable increases by $10,000, Liabilities decrease by $10,000, and Stockholders' Equity increases by $20,000. Cash increases by $10,000, Accounts Receivable increases by $10,000, and Consulting Revenue increases by $20,000. Revenues increase by $10,000, liabilities decrease by $10,000, and stockholders' equity is unchanged.A firm purchased $35,000 in office furniture this year. The firm has $150,000 in earnings before depreciation and taxes each year, and the tax obligation is $55,000 each year. a) According to the lecture, what MACRS schedule should be used? b) Using the half-year convention, over how many years will the furniture be depreciated? c) What is the difference between the accounting flows and the cash flows for the first year? d) What is the difference between the accounting flows and the cash flows for the second year?
- At year end, Smith Company has Cash of $12,000, current Accounts Receivable of $24,000, Merchandise Inventory of $3,000, and Prepaid Expenses totaling $5,000. Liabilities of $20,000 must be paid next year. What is the acid-test ratio?Salaries expense for the year equals $240,000. Salaries payable at the beginning of the year were $25,000, and at the end of the year were $15,000. Calculate cash paid for salaries during the year. a. $225,000.b. $250,000.c. $230,000.d. $265,000.In March of the current year, Mooney Company estimated its year-end executive bonuses to be $800,000. The executive bonus paid in the previous year was $950,000. What amount of bonus expense, if any, should Mooney recognize in determining net income for the first quarter of the current calendar year?a. –0–b. $200,000c. $237,500d. $800,000
