Last year, Garrison Manufacturing sold 500 000 units at $4 each. Sales volume is expected to increase by 15% in the upcoming year, and sales price is expected to decrease by 5% in the upcoming year. The expected sales revenue for the upcoming year is:

Q: June 1 Invested P 90,000 in the dance studio 2 Paid P10,000 for three month's rent in advance 3…

A: Journal is a book in which all financial transactions of the business are recorded. Journal is a…

Q: On July 1, 2019, GAR Company acquired 800,000 shares of FAR Company at a price of P13 per share. GAR…

A: Total number of shares outstanding of FAR Company = P5,000,000P5 per share = 1,000,000 shares % of…

Q: Interperiod Measurement of Productivity, Profit-Linked Measurement Helena Company needs to increase…

A: Standard as per 20X1 : Power = 184,300/23,038 = 8 = 184,300/46,075 = 4

Q: Auditing an attestation client's inventory accounts can vary widely in complexity and time required…

A: Inventory accounts are audited to report on the true and fair state of inventory balances on a…

Q: 1. Explain the difference between the social role of accounting and the traditional role of…

A: The Accounting is an art of identification, recording, summarizing, analysing and interpretation of…

Q: Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its…

A: Working Note:   June July August September Total sales $53,000 $46,000 $57,000 $82,000 Less:…

Q: the property factor, leased property is generally valued at

A: A lease is an agreement to use an asset of another party for a fixed period of time in exchange for…

Q: On Jan 1, 20X1, ABC Corp received a P300,000 3-year note from a customer. The principal and interest…

A:

Q: Use the following information to calculate cash received from dividends: Dividends revenue $ 30,300…

A: Formula: Cash received from dividends = January 01 dividends receivable + Dividends revenue -…

Q: ABC Company provides extended service contracts on equipment sold through major retailers. The…

A: Warranty is a form of assurance being provided by the seller to the buyer that in case product will…

Q: kelly’s Fitness Center purchased a new step machine for $16,500. The apparatus is expected to last…

A:

Q: The Matilda produces two products, Alpha and Beta, and uses the conventional method of allocating…

A: Activity based costing is one of the costing method under which all indirect costs are being…

Q: Tanner-UNF Corporation acquired as an investment $300 million of 6% bonds, dated July 1, on July 1,…

A: Solution 1-3:         Journal Entries -  Tanner - UNF Corporation Event Date Particulars Debit…

Q: The following statement suits best the definition of EXPENSES a. Expenses are resources used,…

A: A Expenses is a recurring nature items to be paid. These are shown in the income statement by the…

Q: Under Megan's will, $10,000 a year is to be paid to his widow and $5,000 a year is to be paid to his…

A: Gross income (GI) refers to the income which involves the wages, retirement distributions,…

Q: 1. Presented here are the components in Sanders Company's income statement. Determine the missing…

A: As requested to answer C& D so we are answering only C& D parts.

Q: On 1 January 2014, Lystra entered into a lease agreement with Trina to rent an asset for a 6 year…

A: As per IFRS 16, The lease liability ia to be measured at commencement date. It is present  value of…

Q: A shareholder owns 15,000 shares costing P3,000,000. Subsequently, the shareholder receives notice…

A: The stock split increases the number of issued and outstanding shares and decreases the par value of…

Q: Fred is considering three job offers in advertising. • A full-time position as a coordinator that…

A: Social Security Tax: 6.2% Medicare Tax: 1.45% Federal Income Tax: 15% Average Sales: $100,000…

Q: In an effort to increase sales, DARIO Company inaugurated a sales promotional campaign on June 30,…

A: Liabilities means the obligations and dues which needs to be paid off by the business. Premium…

Q: Determine the company's break-even point in (1) number of lawns serviced per month and (2) sales…

A: Breakeven sales is that level of sales at which business is only covering its fixed costs and…

Q: Information for two alternative projects involving machinery investments follows. Project 1 requires…

A: Net annual cash flows is the difference between annual cash inflows and annual cash outflows.…

Q: Dexter Industries purchased packaging equipment on January 8 for $392,400. The equipment was…

A: Depreciation: - Depreciation is the reduction in the value of asset as its use or wear and tear…

Q: A company sells one of its trucks for R250,000. Which of the following options accurately classifies…

A: Cash flows means all cash inflows and cash outflows of the business. Cash inflows means cash…

Q: For each of the following, give two examples of physical control that the client can use to protect…

A: Physical control includes how the organization prevents unauthorized use of the asset and also…

Q: Actual sales for August and September are as follows:     August   September Cash sales   $6,000…

A: The question is based on the concept of Cost Accounting. A cash budget is designed to determine the…

Q: Alexander Corporation reports the following components of stockholders’ equity at December 31, 2019.…

A: The shareholders' equity section records the issued capital, additional paid in capital and retained…

Q: 1. Budgeted Income Statement Coral Seas Jewelry Company makes and sells costume jewelry. For the…

A: Budgeted Income Statement is the Statement that helps estimates and evaluate Revenue and expenses…

Q: 11. Biscoe. has historically used FIFO inventory costing method. In year 4 the company decided to…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: DIDAL Company owns a ranch which produces the livestock which it uses in its meat processing…

A: Current Liabilities are those dues and obligations which needs to be settled or being paid out by…

Q: How should become great in it ?

A: Introduction: If you want to start or enhance your career in information technology (IT), you need…

Q: The following selected transactions relate to investment activities of Ornamental Insulation…

A: Available for sale securities refer to those securities purchased by a business entity for the…

Q: The following information has been extracted from the draft financial statements of Snowdrop, a…

A: Introduction: The net quantity of cash and cash equivalents carried into and out of a firm is…

Q: At the beginning of the current year, Bert Company purchased a mineral mine for P26,400,000 with…

A: Lets understand the basics. Depletion needs to calculate when there is extraction of mineral…

Q: Orman Company produces neon-colored covers for tablets (e.g., iPads). For last year, Ormanreported…

A: Income statement is prepared with a view to ascertain the net income earned by the entity over a…

Q: 2) Choice Clothing completed the following selected transactions during 2019 and 2020:

A:

Q: On December 10, Daniel Co. split its stock 5-for-2 when the market value was $65 per share.Prior to…

A: Split of Shares/Stock: When an organization splits the shares, it increases the number of shares of…

Q: In the production budget, total required production units is equal to the expected sales units plus…

A: Production budget is the estimate of units to be produced in a future period of time.

Q: Explain and describe the various costing methods used in management accounting

A: There can be several types of costing methods that are used in Managment accounting that help and…

Q: The following data are given on the sole product of Silva Corporation: Unit Selling Price P 800;…

A: Formulas: Break even sales (Units) = Fixed costs / Contribution Margin per unit  Break even sales…

Q: Atlas Foods produces three supplemental food products simultaneously through a refining process…

A: Joint costs are the one which are allocated to more than 1 product which are produced from same…

Q: Which product line has the highest gross profit %? Which product line has the highest net income %?

A:

Q: The sales journal records the daily transactions of a business pertaining to: O a. Sales…

A: Sales journal  records revenue from sale of  goods or services.

Q: 2B) A company revalues its buildings and decides to incorporate the revaluation into financial…

A: Depreciation- Depreciation is the accounting term for the gradual loss of an asset's value as a…

Q: help me identify if this is an asset, expense, withdrawals, liability, revenues - a written promise…

A: Asset is the useful thing we have us like property, car, machines. These are valuable things that…

Q: The production budget shows expected unit sales of 37000. Beginning finished goods units are 3600.…

A: The question is based on the concept of Cost Accounting. Ending inventory is the balancing figure…

Q: For what purpose Form 2553 is required?

A: Form 2553   By completing IRS Form 2553, Election by a Small Business Corporation, businesses…

Q: At the end of the month, the schedule of accounts payable (a list of ending amounts owed to…

A: A control account seems to be a general ledger account that simply contains summarized amounts.…

Q: The following source document is used to support the transactions related to returns outwards to…

A: Return  outwards to creditors  means purchase returns.

Q: Scott and Laura are married and will file a joint tax return. Laura has a sole proprietorship (not a…

A: