List and explain briefly the phases of an internal control evaluation.

Q: Weekly

A: Weekly cycle billing helps inconsistently the cash flow and makes work simpler and free from errors.

Q: Bulldogs Inc. currently fills mail orders from all over the country and receipts were received in it...

A: Estimated net annual savings in implementing the lockbox system = Savings in interest - Annual cost ...

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Q: The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $13,165. The bank statem...

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Q: Subsidiary Company was merged with Parent Corporation on December 31, 2021. In the business combinat...

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Q: ulldogs Inc., a corporation that issues ordinary shares with par value, completed a 2-for-1 stock sp...

A: The coupon interest rate is the cash flow that comes from bonds. The coupon is fixed rate interest a...

Q: proposed relaxation of credit standards of Bulldogs Inc. will increase the balance of accounts recei...

A: Solution..   Increase in accounts receivable = P95,000  Increase in average collection period  = 3 *...

Q: A week before the expiration of the period, Aki told Jannie that she is no longer willing to sell th...

A: The answer for the multiple choice question and relevant explanation are presented hereunder : Aki o...

Q: Which of the following regarding the preparation of Consolidated Financial Statement is correct? A. ...

A: As per IFRS 10 consolidated financial statements are to be prepared to enable users to get overall u...

Q: Which of the following statements is most correct?

A: Companies or government require funds and for that sometimes they issue the bonds or debentures inst...

Q: how to find net operating working capital

A: Working capital or net working capital is arrived by deducting Current liabilities from Current asse...

Q: Bulldogs Inc. has forecasted that its net income will be P400,000. The company has debt ratio of 30%...

A: Answer) Calculation of Dividends per share Dividends per share = Earnings available for Common Stock...

Q: Bhoopesh Ltd. gives you these transactions of their Business. Find out their effect on its Assets, L...

A: Accounting Equation: Total assets = Total liabilities + Equity

Q: On January 1, 2019 Pink Corp. sold a machine for $7,400 to slink Corp., its wholly-owned subsidiary....

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...

Q: Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cas...

A: The account receivable are payments to be received from the customer for goods being purchased by cu...

Q: Bulldogs Inc. uses Additional Funds Needed as a plug item. If the company had forecast its additiona...

A: Lets understand the basics. Retention ratio is a ratio which shows how much percentage income is lef...

Q: Bulldogs Inc. has a variable cost ratio of 20% and a 10% receivable financing cost. The firm is plan...

A: Following is the calculation of Accounts Receivable balance under old credit standard.

Q: 47 I. Financial accounting info. is usually used exclusively by internal parties such as managers. ...

A: Financial accounting refers to recording, analyzing and reporting of financial data of a company so ...

Q: A banker is reviewing the bank's current portfolio of outstanding loans based on the following infor...

A: Times interest earned = Earnings before interest and income taxes Interest expense                 ...

Q: Using the percentage method for manual payroll with W 4s from 2020 or later in Appendix C calculate ...

A: Withholding amount is the amount of tax hold from the part of the income. The amount is calculated u...

Q: pany discovered a computational error of P150,000 in the calculation of the December 31, 2021 invent...

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Q: How can the separate entity concept benefit each of the ff: A. creditors B. consumers  C. governmen...

A: This concept of accounting means that the owners of business need to ensure that it records separate...

Q: oumalize all necessary entries for 2019 and 2020 for CBD Co from the following

A:                               As per IRS rules if a corporation's estimated tax for the year is $ 50...

Q: Bulldogs Inc. expected to sell in October 2021 1,000 units of Dell laptops with a purchase cost per ...

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Q: What type of account is Aaron Pickle, Capital?      Asset         Liability         Owner’s equity...

A: Lets understand the basics. When any business is started then whatever owners bring consider under t...

Q: Question 5 (Chapter 7) Connor's house burns down in a wildfire. The wildfire was a federally-declare...

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Q: 2. The management of Bay Electronics Company is considering to whether to select a project that requ...

A: Given information, Cost of equipment = R6,000 Increase in annual cash inflow = R2,200 Useful life of...

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A: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units - ...

Q: In which of the following scenarios does the basic Economic Order Quantity model can be applied? * O...

A: Lets understand the basics. Economic order quantity(EOQ) is a quantity at which ordering cost and ca...

Q: Bulldogs Inc. expected to sell in October 2021 1,000 units of Dell laptops with a purchase cost per ...

A: Sales price variance = ( Actual price - standard Price ) x Units Sold Sales Price - Cost = Gross Pro...

Q: Shady Rest Nursing Home has 1

A: The total cost of production of a good comprises of the total fixed cost of production and the total...

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A: * As per Bartleby policy, in case question have multiple subparts then answer first three only.   a)...

Q: Dublin Company had two operating divisions, ona manufactures machinery and the other breeds and sell...

A: given   On December 31, 2021, the carrying amount of the assets of the horse division was P5,000,000...

Q: During an acquisition, when should intangible assets NOT be recognized apart from Goodwill? A. The a...

A: The correct answer is Option (d)The assets have been accounted for by the subsidiary but have no Fai...

Q: cess of preparing Consolidated Financial Statements involves the elimination of intercompany transac...

A: In subsidiary account and parent company account there are common transaction which are to be dealt ...

Q: mith Inc. expects to use 96,000 litters of paint annually costing P12 per litter. Inventory carrying...

A: Inventory carrying cost is the cost of keeping items in stock. The larger the volume of inventory, t...

Q: Which is false about long-term sources of a firm's capital? * , O All types of corporations may issu...

A: Who can issue equity securities to public:- Only large publicly-held corporation can issue equity se...

Q: Find the APR for the following 5-year loan: A principal of £15,000 with a stated annual interest rat...

A: Excel formula which is used to calculate APR Formula:- APR =[ {(Interest + Fees )/ Loan amount} / N...

Q: Bulldogs Inc. has forecasted that its net income will be P400,000. The company has debt ratio of 30%...

A: Net income = P400,000 Debt ratio = 30% Equity ratio = 100%-30% = 70% Investment = P500,000 Number of...

Q: A proposed relaxation of credit standards of Bulldogs Inc. will increase the balance of accounts rec...

A: Solution..   Increase in accounts receivable = P95,000  Increase in collection period  = 3 * 7 days ...

Q: What is fiat money?

A: ANSWER FIAT MONEY IS A TYPE OF MONEY WHICH IS ISSUED BY GOVERNMENT AND SUCH MONEY IS NOT BACKED BY A...

Q: At the end of November 2016, Caribbean Productions Ltd had 700 units of product BMR400 in store. For...

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Q: How are conflicts between the shareholders and the management created? Which of the following is mos...

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Q: 30. On January 1 2021 parent co. acquired 80% of subsidiary inc.’s outstanding stocks for 1,600,000 ...

A: In case of business combination we can measure the goodwill or bargain purchase using the below ment...

Q: Of Peterson Enterprises’ $1.4 billion in assets, $150 million of those assets are in cash or can be ...

A: Lets understand the basics. When company having a higher cash in the books in compare to the industr...

Q: A company just starting business made the following four inventory purchases in June: Number of unit...

A: Average cost per unit = Total cost Total number of units purchased                                 ...

Q: Required information Exercise 7-5 (Algo) Notes payable—discount basis LO 2 Skip to question   [The ...

A: The amount for loan proceeds is collected after making adjustments for interest charged on loan. 

Q: Take me to the text On October 1, 2020, Robby Company issued $251,000 worth of bonds at par, with th...

A: The bonds are the financial instruments used to raise money from the market. 

Q: ulldogs Inc. expects to use 48,000 boxes of chocolate per year costing P12 per box. Inventory carryi...

A: The total variable cost of production refers to the production cost that changes with the change in ...