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Q: Discuss further on liabilities of partners and share your thoughts on the issues alone.
A: In case of partnership firm partners shall be liable for partnership liabilities.
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A: Lets understand the basics. When consideration is paid less than the fair value of asset individual ...
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A: Shareholder equity includes ordinary shares + Share premium + Retained Earnings
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A: Revaluation surplus = Revalued amount - Carrying value = £480.000 - £400.000 = £80.000 Yearly deprec...
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A: Gross profit earned=Sales Revenue-Adjusted Cost of Goods Sold
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A: Job costing is one of the type of costing, under which all costs are being assigned and accumulated ...
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A: Formula used for Calculating Total Product cost: Total Product cost = Direct materials cost + Direct...
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A: The answer has been stated below.
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Q: Plz solve it within 30-40 mins I'll give you multiple upvote
A: Bond is borrowing security issued by the company to raise funds from the market by making an agreeme...
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A: To get the cost of ending inventory and inventory used, compute first for the ending inventory in un...
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A: Gross profit realized during 2020 26048 Amount of inventory of unsold straight chairs 71442
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A: The profit percentage is calculated as profit divided by total cost.
Q: The chart below is an example of a Strategy Vistalization Data. Analytics AppliedBusie Multiple Choi...
A: Chart is a graphical representation of data which makes it more appealing and easy to understand.
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A: Journal entry - It refers to the process where the business transactions are recorded in the books o...
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A: Special journals are journals that record transactions only related to the special journal. Sales jo...
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A: Preparation of the above statements that is statement of cost of goods manufactured and statment of ...
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A: Shares outstanding = 560,000 shares Stock dividend = 15% = 560,000 * 15% = 84,000 shares Stock divid...
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A: Determination of Adjusted balance of the Home office account: Amount (P) Branch account b...
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A: Issue of shares is one of the important source from ehere funds and capital can be arranged by the b...
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A: An intangible asset is a distinguishable non-monetary asset that lacks physical substance. When an a...
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A: Branch accounting refers to a system where separate accounts are maintained for each branch.
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A: Financial Accounting The major accounting statements are the Income Statement , Balance Sheet and ...
Q: What is a base rate entity? And what rates of tax are payable by these entities?
A: ANSWER A base rate entity for an income year is a company if: the company's aggregated turnover fo...
Q: Required information [The following information applies to the questions displayed below.] Carmen Ca...
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A: Assets - Assets are the resources owned by the company from the capital invested. Liabilities - Liab...
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A: Lets understand the basics. Variable cost ratio is a ratio which indicates the variable cost in comp...
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A: Accrued revenues are revenues earned but the amount is receivable at the end of the year.
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Q: Home Office P 256,000 210,000 Branch Sales P 78,500 Purchases from outsiders 20,000 Shipments to bra...
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A: Branch and Head office concept comes in to existence where company is running from more than one en...
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A: Since basic accounting equation is Total assets = Total liabilities + Owners equity
Q: determine combined net income (loss) of the home office and the branch for the year 2021.
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Q: Independence
A:
Q: 4. ABC Company operates a branch. +tוווש Operating data for the home office and the branch for 2021 ...
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A:
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- Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018, and received $540,000. Interest is payable semi-annually. The premium is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of premiumBats Corporation issued 800,000 of 12% face value bonds for 851,705.70. The bonds were dated and issued on April 1, 2019, are due March 31, 2023, and pay interest semiannually on September 30 and March 31. Bats sold the bonds to yield 10%. Required: 1. Prepare a bond interest expense and premium amortization schedule using the straight-line method. 2. Prepare a bond interest expense and premium amortization schedule using the effective interest method. 3. Prepare any adjusting entries for the end of the fiscal year, December 31, 2019, using the: a. straight-line method of amortization b. effective interest method of amortization 4. Assume the company retires the bonds on June 30, 2020, at 103 plus accrued interest. Prepare the journal entries to record the bond retirement using the: a. straight-line method of amortization b. effective interest method of amortizationDixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable annually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30, 2019: entry to record amortization of discount D. June 30, 2020: entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of discount
- Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable semiannually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of discountDisclosure of Debt On May 1, 2019, Ramden Company issues 13% bonds with a face value of 2 million. The bond contract calls for retirement of the bonds in periodic installments of 200,000, starting on May 1, 2020, and continuing on each May 1 thereafter until all bonds are retired. Required: How would the preceding information appear in Ramdens balance sheets on December 31, 2019, and 2020?Cornerstone Exercise Bonds Issued at a Discount (Effective Interest) Refer to the information for Sicily Corporation above. Required: Prepare the journal entries for December 31, 2020 and 2021. Use the following information for Cornerstone Exercises 9-33 and 9-34: Crafty Corporation issued 5475,000 of 5%, 7-year bonds on January 1, 2020, for $448,484. Interest is paid annually on December 31. The market rate of interest is 6%.