lic partn
Q: 1. The capital balances of C, P and A respectively are?
A: Partnership is a form of business organization under which two or partners come into an agreement to...
Q: iv. How you passed the entry of scrape material for: Transfer scrape to inventory ,Sold scrape to in...
A: "Since you have asked multiple question, we will solve the first question for you. If you want any s...
Q: Headland Co. purchased a machine on January 1, 2018, for $594,000. At that time, it was estimated th...
A:
Q: A director’s duty to avoid a conflict of interest includes:Select one:a. Not making a personal profi...
A: SOLUTION- DIRECTOR'S DUTY TO AVOID A CONFLICT OF INTEREST IS LINKED TO THE DUTY - 1-NOT TO MAKE A P...
Q: Calculating Social Security and Medicare Taxes Assume a Social Security tax rate of 6.2% is applied ...
A: Social security tax rate = 6.2% subject to maximum earnings of $ 118500 Medicare tax rate = 1.45% ( ...
Q: Camille Company purchased from Iya Corporation a ₱400,000, 8%, five-year note that requires five ann...
A: A note can be defined as a financial security which is issued for the purpose of raising money. The ...
Q: Thank you!
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: The auditor has a responsibility to the various users of financial statements including shareholders...
A: IT risks and controls must be evaluated from the top down. There are general controls and there are ...
Q: Prepare the Journal
A: Journal entry: Journal entry is a set of economic events which can be measured in financial terms. T...
Q: Answer full question.
A: "Since you have asked multiple sub part question we will solve the first three sub part question for...
Q: KINDLY ANSWER THE FIVE QUESTIONS. THANK YOU!1.S1: Partnership profits and losses (including bonuses ...
A: Partnership means where two or more person comes together to do some common business activity and ea...
Q: PARTNERSHIP Kindly provide a clear solution. Thank you!
A: Partnership means where two or more person comes together to do some common business activity and ea...
Q: Accounting Ravi, a dairy owner paid dollar 1,500 to purchase a freezer from Angela, Ravi's sister, a...
A: GST is goods and services tax. This is a form of indirect taxes that is applicable on purchase and s...
Q: An investor has asked for your help with the following time value of money applications. Table 6-4. ...
A: a. Present value = Amount to be received in six years x Discount factor of present value of $1(18%, ...
Q: Waterway Industries owns machinery with a book value of $572000. It is estimated that the machinery ...
A: Solution:- Calculation of impairment loss as follows under:-
Q: Answer full question. Answer both parts.
A: Working Notes: 1. Jan 1, Inventory = (250 Units x $11) = $2750 2. Apr.1, Sales Revenue= (125 U...
Q: he auditor of Kent Ltd selects a sample from the file of shipping documents in order to confirm that...
A: An audit report is provided by an independent auditor that contains the opinion of the auditor on wh...
Q: Please answer the full question
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Please Show ALL Workings VERY Clearly!
A: The value of an amount of money that will be paid on a future date is known as future value. As a re...
Q: GJ Company Trial Balance January 31, 2021 Account Titles Debit Credit Cash 33, 450 Accounts receivab...
A: The financial position of the company can be arrived from the income statement prepared by the manag...
Q: ND Inc. is considering Projects S and L, whose cash flows are shown below. These projects are mutual...
A: Formula:
Q: A machine costing $58,228 with a 4-year life and $52,607 depreciable cost was purchased January 1. C...
A: We know that the formula to calculate depreciation under straight-line method is Depreciation = ( H...
Q: Please explain it properly
A:
Q: Show the solution in good accounting form
A: The question is related to Partnership Accounting. There are three partners sharing profit and losse...
Q: 5. Partners X, Y and Z have capital balances capital balances in a partnership of P140,000, P60,000 ...
A: Partnership means where two or more person comes together to do some common business activity and ea...
Q: Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One sta...
A: Cash Flow Statement: Working Notes:
Q: The total of the partners’, capital accounts was P110,000 before the recognition of partnership asse...
A: SOLUTION- GIVEN THAT THE TOTAL NO OF PARTNERS CAPITAL ACCOUNT BEFORE THE RECOGNITION OF PARTNERSHIP ...
Q: Please do the statement of cf Changes in se and balance sheet
A: Cash flow statement in the business shows all cash inflows and cash outflows related to the business...
Q: On January 31, 2020, partners Yu, Sting and Ky had the following loan and capital account balances (...
A: Given, The details of the partnership firm are listed below. Yu, String and KY’s loan and capital a...
Q: On January 1, 2021 a corporation was organized. The firm was authorized to Issue 150,000 shares of $...
A: Stockholder's equity at the end of 2021 = Common stock + Paid in capital in excess of par common sto...
Q: Answer full question. Answer a,b and c
A: Answer a)
Q: Flounder Industries changed from the double-declining-balance to the straight-line method in 2021 on...
A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/8 years) x 2 = 25%
Q: 7. The three types of auditors are independent, government, and operational. Select one:TrueFalse
A: solution : The three types of auditors are independent, government, and operational the above statem...
Q: In a factory differential Piece rate system is used. The differential applied as follow: •90 percent...
A: Piece rate means where the earning of worker will be depend upon the number of product produced duri...
Q: S1: Partnership profits and losses (including bonuses and revaluations) are allocated in accordance ...
A: Profit and Losses (including bonuses and revaluations) are allocated in accordance with partnership ...
Q: A partnership had the following condensed balance sheet: Cash P15,000 Liabilities P45,000Non-cash as...
A: Admission of a new Partner When a new partner is admitted in a firm by the consent of all other pa...
Q: Answer only.
A: Closing entry means where all nominal account i.e. revenue and expenses account will be transfer to ...
Q: Sunland Company purchased a machine on July 1, 2020, for $970000. The machine has an estimated usefu...
A: The rate of depreciation under 150% declining balance method is calculated by dividing 150 by the es...
Q: (Please do ignore this if you already answered this problem, tutor) The Molding Department of Gen...
A: Net Present Value - It is the present value of cash flow for required rated of return of investment ...
Q: May, Two, and Low, are sharing profits and losses in the ratio of 50:30:20, have capital credit bala...
A: The right answer is option a .300,000
Q: 00 cash. (Appropriate entries for Required: Journalize the following entries 1. Record the depreciat...
A: Transaction General Journal Debit Credit a Depreciation expense-Office Equipment ...
Q: Answer full question.
A: Explanation: A. Unadjusted bank balance 1. Deposit in transit will be added because we are receiving...
Q: True net income of the branch
A: Given:
Q: Answer only.
A: Gross margin = Sales - Cost of goods sold Gross margin percentage = Gross margin/Sales
Q: Please help me. Thank you Requirement: Journal Entries only
A:
Q: SouthWonder company produce and sell bamboo frame for $25 each. Requirements of direct materials and...
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: The duty to retain discretion means that:Select one:a. The director should remain independent, freel...
A: The company will consists of the owners, and management. The owners are the persons who take care of...
Q: this is for my accounting homework please help asap
A: General partners, or partners, are personally liable for the debts and obligations of the partnershi...
Q: Exercise 3 – 5 (Issuance of Share Capital on a Subscription Basis) On June 1, 2019, Carey, Inc. sold...
A: The subscription basis for the issue of share capital states the basis for the payment for the share...
Q:
A: Solution:- Explanation of distinguish between the sales value at split off method and the NPV method...
Step by step
Solved in 2 steps