O none of the choices O Understated by P301.800 O Overstated by P119,400 O Overstated by P820,200 O Understated by P265,.800
Q: 0,985 12 000 0,990 16 00C 0,995 19 50C 0,9995 22 50C
A: Provision and Reserve =10000+6%*9500=10570 Free Assets = 23000-19500 =35000 Shareholders Fund = 8930
Q: $5,000 ÷ (1 + 0.0875) =is not $5,438 $5,000 x (1 + 0.0875) =is $5,438
A: Present Value of Annuity: It is estimated by discounting the annuity payments by an appropriate…
Q: Given a MARR of 13%, which alternative should the company select? Alternative IRR PW(13%) A 18.6…
A: Minimum acceptable rate of return also known as the hurdle rate is defined as the minimum rate which…
Q: 54,70
A: Since Joker Corporation adopted cash method to recognise the profit hence cost of goods purchased…
Q: Select one: O a. OMR 1,560,000 applied and OMR 15,000 underapplied b. None of the answers are…
A: Overhead means indirect cost incurred in production and manufacturing of goods. Overhead is…
Q: A. P240,000 B. P560,000 C. P320,000 D. P400,000 E. Answer not Given
A: Break-even point: It can be defined as that level of production at which the company’s costs fall…
Q: P230,000 80,50C 525,000 275,000 5,000 190,000 rale
A: As per rule, allowed to answer first question and post the remaining in the next submission.
Q: Options: a) 2240 b) 2160 c) 2080 d) 2000 e) 1920 f) None of the above
A: Down payment: It is the initial payment made for purchasing any asset.
Q: 008'L6 $ $330,000 255,000 281,250 $866, 250 000ʻLES 000'ZI $827,250 000'6E
A: Solution: Total Preferred stock outstanding = Preferred stock - Treasury stock (Preferred stock)…
Q: OR No Da 100714 100715 Jan Jan
A: Journal or General Journal is the book of prime entry.…
Q: atitled to the standard deduction of $12,00 O a. $50,600 O b. $34,212 c. 46,212 O d. $35,434
A: Taxable income is income after standard deductions and retirement contributions.
Q: Evaluate the required value based BD50,C O A. BD 29,932.90 O B. BD 28,962.90 O C. BD 27,841.87
A: The present value is the value of money that is equivalent to the future money considering the…
Q: ᴀ ᴍᴏᴛᴏʀ ᴄᴏᴍᴘᴀɴʏ ʜᴀꜱ ᴀ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴄᴀᴘᴀᴄɪᴛʏ ᴏꜰ 1200 ᴍᴏᴛᴏʀꜱ ᴀ ᴍᴏɴᴛʜ. ᴛʜᴇ ᴠᴀʀɪᴀʙʟᴇ ᴄᴏꜱᴛꜱ ᴀʀᴇ ᴘʜᴘ 1150…
A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…
Q: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 1.06090…
A: Given Information : Deposit amount - $190,000 Period - 2 year Interest rate - 12% compounded…
Q: Please can you show me step by step to solve for OFC? Thank
A: OCF is Operating Cashflow which is the money a firm generates through its regular operations.
Q: 509-26 Problems with IRR [LO5] [so
A: IRR stands for internal rate of return, which means the rate at which the present value of the cash…
Q: Alternative K the preferred alternative? [A] 0%<=MARR<=8.144169% [B] 4.2775% <=MARR<=8.144169% [C]…
A: The MARR is minimum attractive rate of return that project must earn to satisfy the investors and to…
Q: FV $1 PV $1 FVA $I PVA $1 FVAD $1 Submit PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2…
A: Periodic Deposit = 3300 Interest Rate = 3% Time Period (N) = 9 years Beginning of period deposits…
Q: 2,950 B. P55,300 C. P82,950
A: The question is based on the concept pf Financial Accounting.
Q: P 205,000 67,900 36.500
A: It is given that the information of Brother Paul's Burger House.
Q: 031017 033117 ********* *** ***10,000.00 *********.68 32,100. 32,106.68 32,105.34 42,105.34 28634…
A: Formula for calculation of Withholding Tax = Tax Deducted/Amount Credited * 100 Case 1: Amount…
Q: a 0.07248 b. 0.00386 0.26921
A: Portfolio management is the process of selecting, prioritising, and controlling an organization's…
Q: P132,825 P150,000 P144,900 P137,500
A: solution : Given : Coupon rate =11% Market interest rate =12 % Interest payable annually…
Q: 700 435 280 330 300 370 430 780 MIRR? Do not round intermediate calculations. Round your answer to…
A: MIRR or modified internal rate of return is internal rate of return computed by taking into account…
Q: O a. CNY 0.05812-11/OMR O b. OMR 0.05811-2/CNY OC. OMR 0.05812-911/CNY O d. OMR 0.05811-5/CNY
A: inverse qoutes are qoutes from other currency to home currency rather than home currency to other…
Q: EN: Taxnaver is a proprietary education
A: Proprietary Educational Institutions: These institutions are the private school which are non-profit…
Q: O P40,040.00 O P42,140.00 O P2,100.00 P1,158.00
A: Introduction:- ABC costing means Activity based costing. It is used to allocation of manufacturing…
Q: O s71.995 S64.26
A: Income statement: The income statement is the financial statement that shows the financial…
Q: N FV $1 11.03000 0.97087 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1.0000 0.97087 1.0300 1.00000 2 1.06090…
A: Future Value Required = 520,000 Semi Annual Compounding Interest Rate = 6%/2 = 3% per semi annual…
Q: R61 [Review Question] I. F=A(F/A, 1%, 6) II. F=A(F/A, 1%, 5)(P/F, 1%, 1) II. F=A(P/A, 1%, 5)(F/P,…
A: Below are the meaning of the abbreviations: F = Future Worth A = Annuity P = Present Worth i% =…
Q: Can you help me solve this step by step. Thank you
A: Please see the white board.
Q: Saved N FV $1 PV $1 FVA $1 PVA $1 FVAD 51 PVAD $1 1.03000 0.97087 1.06090 o.94260 1.09273 0.91514…
A: The time value rule states that the dollar amount may have different purchasing powers in different…
Q: as been ré P6,100 to of P926,C
A: One-sided errors seem to be those that impact the trial balance's agreement. Such problems impact…
Q: A=$32982 p=27,200 r=5.93% t=?
A: The time value of money (TVM): Money available at present time has more value than the money in the…
Q: On this question may you please explain how it came to 41880 instead of 41860
A:
Q: O 1,773,408 1,884,916 1,138,816 O 1,829,152
A: First three years 300000 Five years 400000 interest rate =10%
Q: 1234 5 63. We have the following spot rates: No of Year ron(spot rate) 10.5% 11% 3. 11.5% 12% 12.5%…
A: S1 = 10.5% S2 = 11% S3 = 11.5% S4 = 12% S5 = 12.5%
Q: O Between $184,561 and $184,699
A: Net present value refers to the amount used for the calculation of the current total value of the…
Q: O $853,623 O $896,325 O$1.128,600
A: All sorts of future cash flows in respect of adding interest on present value are known as the…
Q: A direct quote of €0.1256/Dkr is equivalent to an indirect quote of a . Dkr 7.962/€ b . Dkr…
A: Indirect quote represents the requirement of domestic currency in order to purchase the foreign…
Q: Please can you show me how to solve for P step by step thank you
A:
Q: 1 x 8 5,500 40,100 10,175 P 49.490 1.85 Required: Assume that management adopts the ABC plan,…
A: ABC Analysis It is important for the valuation of inventory which are used for the entity as…
Q: 142,500 a O None of the given answers b O 102,500 .c O 82,500 d O
A: Ans. The formula for calculation of Margin of Safety is - Margin of Safety = Actual sales -…
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- Abrat Company failed to accrue an allowance for doubtful accounts of 13,500 in 2019. Upon discovery of this error in 2020 prior to making its estimate of doubtful accounts, what correcting journal entry should Abrat make? Ignore income taxes.Dudley Company failed to recognize the following accruals. It also recorded the prepaid expenses and unearned revenues as expenses and revenues, respectively', in the following year when paid or collected. The reported pretax income was 20,000 in 2018, 25,000 in 2019, and 23,000 in 2020. Required: 1. Compute the correct pretax income for 2018, 2019, and 2020. 2. Prepare the journal entries necessary in 2020 if the errors are discovered at the end of that year. Ignore income taxes. 3. Prepare the journal entries necessary in 2021 if the errors are discovered at the end of that year. Ignore income taxes.Shannon Corporation began operations on January 1, 2019. Financial statements for the years ended December 31, 2019 and 2020, contained the following errors: In addition, on December 31, 2020, fully depreciated machinery was sold for 10,800 cash, but the sale was not recorded until 2021. There were no other errors during 2019 or 2020, and no corrections have been made for any of the errors. Refer to the information for Shannon Corporation above. Ignoring income taxes, what is the total effect of the errors on the amount of working capital (current assets minus current liabilities) at December 31, 2020? a. working capital overstated by 4,200 b. working capital understated by 5,800 c. working capital understated by 6,000 d. working capital understated by 9,800
- A review of Anderson Corporations books indicates that the errors and omissions pertaining to the balance sheet accounts shown as follows had not been corrected during the applicable years. The net income per the books is: 2017, 10,000; 2018, 12,000; 2019, 15,000; and 2020, 20,000. No dividends were declared during these years and no adjustments were made to retained earnings. The Retained Earnings balance on December 31, 2020, is 50,000. Omissions Required: Determine the correct net income for the years 2017, 2018, 2019, and 2020, and the adjusted balance sheet accounts as of December 31, 2020. Ignore possible income tax effects.At the end of 2019, Framber Company received 8,000 as a prepayment for renting a building to a tenant during 2020. The company erroneously recorded the transaction by debiting Cash and crediting Rent Revenue in 2019 instead of 2020. Upon discovery of this error in 2020, what correcting journal entry will Framber make? Ignore income taxes.7 You were engaged by DIANE Company to audit its financial statements for the first time. In examining the books, you noted that certain adjustments had been overlooked at the end of 2020 and 2021. You also discovered that other items had been improperly recorded. These omissions and other errors for each year were summarized: 12-31-2021 12-31-2020 Salaries Payable 780,000 873,600 Interest Receivable 213,000 259,200 Prepaid Insurance 307,800 384,000 Advances from Customers 561,000 470,400 (Collections from customers had been recorded as sales but should have been recognized as advances from customers because goods were not shipped until the following year) Machinery 522,000 564,000 (Capital expenditures had been recorded as repairs but should have been charged to Machinery; the depreciation rate is 10% per year, but depreciation in the year of expenditure is to be recognized at 5%)…
- You were first appointed auditor of the RST Corporation in 2020. You completed the audit for 2020 and prepared audited financial statements directly from the audit working papers. You have returned to make the 2021 audit and discovered that the client's bookkeeper failed to record the adjusting entries you made in 2020 audit working papers, which entailed adjustments for the following items The December 31, 2020 inventory was understated by P5,000. No entry was made for accrued utilities expense of P2,500 as of year-end. Ordinary motor repairs of P3,200 were charged to Accumulated Depreciation during 2020. The company failed to record the provision for uncollectible accounts in the amount of P6,000. Your examination of the 2021 entries in the accounts uncovered the following: An expenditure of P10,000 for repairs of office equipment had been charged to furniture and Equipment. The company records depreciation at 10% of the December 31 balance of the Property and Equipment accounts.…The auditors of Final Victory Ltd (FVL) have conducted an annual audit of the company after 31 December 2020, the accounting year end of the company. Up to 31 January 2021 (before the authorization date of the financial statements), two errors are discovered: i) inventories to the value of $9,750 that had been recognized as sold during 2019 was incorrectly included in inventories as at 31 December 2019. ii) money receipt from a customer with a value of $5,250 on 31 December 2019 for service to be delivered on 2 January 2020 was recognized as a revenue in 2019. The following financial statements of FVL for 2019 (as reported) and 2020 (draft) are available: Statements of Profit or Loss and Other Comprehensive Income for the year ended 31 December (Picture Following) The tax rate was 30% for 2019 and 2020. No dividends have been declared or paid. FVL has no items of other comprehensive income since the date of incorporation. Required: Prepare the extracts on statement of changes in…In 2021, the internal auditors of Development Technologies, Inc., discovered that (a) 2020 accrued salaries of $2 million were not recognized until they were paid in 2021 and (b) a $3 million purchase of merchandise in 2021 was recorded as a debit to Purchases in 2020 instead. The physical inventory count at the end of 2020 was correct. Ignoring income taxes, what journal entries are needed in 2021 to correct each error? Also, briefly describe any other measures Development Technologies would take in connection with correcting the errors.
- Correction of errorsIn examining the books of Mulan Company, you found out that certain adjustments had been overlooked at the end of 2019 and 2020. You also discovered that other items had been improperly recorded. These omissions and other failures for each year are summarized below: 12/31/20 12/31/19Salaries payable P780,000 P873,600Interest receivable 213,000 259,200Prepaid insurance 307,800 384,000Advances from customers (Collections from customers had beenrecorded as sales but should have been recognized as advances from customers because goods were not shipped until the following year) 561,000 470,400 Machinery (Capital expenditures had been recorded as repairs but shouldhave been charged to Machinery; the depreciation rate is 10% per year, but depreciation in the year of expenditure is to be recognized at 5%) 522,000 564,000 Required:Compute for the total effect of errors in the net income of 2019 and 2020.8-9 You were engaged by DIANE Company to audit its financial statements for the first time. In examining the books, you noted that certain adjustments had been overlooked at the end of 2020 and 2021. You also discovered that other items had been improperly recorded. These omissions and other errors for each year were summarized: 12-31-2021 12-31-2020 Salaries Payable 780,000 873,600 Interest Receivable 213,000 259,200 Prepaid Insurance 307,800 384,000 Advances from Customers 561,000 470,400 (Collections from customers had been recorded as sales but should have been recognized as advances from customers because goods were not shipped until the following year) Machinery 522,000 564,000 (Capital expenditures had been recorded as repairs but should have been charged to Machinery; the depreciation rate is 10% per year, but depreciation in the year of expenditure is to be recognized at 5%)…On March 5, 2021, you were hired by Hemingway Inc., a closely held company, as a staff member of its newly created internal auditing department. While reviewing the company's records for 2019 and 2020, you discover that no adjustments have yet been made for the following items. Items 1. Interest income of $14,100 was not accrued at the end of 2019. It was recorded when received in February 2020. 2. A computer costing $4,000 was expensed when purchased on July 1, 2019. It is expected to have a 4-year life with no salvage value. The company typically uses straight-line depreciation for all fixed assets. 3. Research and development costs of $33,000 were incurred early in 2019. They were capitalized and were to be amortized over a 3-year period. Amortization of $11,000 was recorded for 2019 and $11,000 for 2020. 4. On January 2, 2019, Hemingway leased a building for 5 years at a monthly rental of $8,000. On that date, the company paid the following amounts, which were expensed when paid.…