P262,500; Nov. 17, 2021

Q: Why are special revenue funds restricted and what would happen if they were used for other purposes?

A: As the special revenue fund is a special revenue that are specific or specified to a project in…

Q: Bol Company's December 31 year-end financial statements had the following errors:       December…

A: Understated Expenses are subtracted whereas overstated expense are added back in order correct the…

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A: The allowance for uncollectible accounts is created to record estimated bad debt expense for the…

Q: On March 16, 2022, BLUE Company paid property taxes of P375,000 on its building for calendar year…

A: Answer

Q: 6. Karmee’s cost of goods sold averages 40 percent of the sales value. Karmee’s objective is to…

A: Beginning inventory of February = February sales x cost of goods sold x % inventory              =…

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A: Return on investment = Net Operating income / Sales Residual income = Net Operating income - Average…

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Q: Jacques is an alien assigned in the Philippines to manage the regional area headquarters of Deli…

A: The Non Resident Aliens in Philippines are subject to income tax on the incomes…

Q: formed. The bank required Katherine, Bethany, and Charlie to personally guarantee the bank loan. The…

A: It is given that any loss, profit or debt is allocated at 1/3 rd for each person. The loan borrowed…

Q: Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory…

A: The question is based on the concept of Cost Accounting. Perpetual moving average is one of the…

Q: 11. Due to the enactment of the CREATE Law, some provisions therein produced confusions on the part…

A: Here asked for multi question we will solve for first question for you according to guidelines.  If…

Q: 2. Determine the project's accounting rate of return.

A: Current (No Automation Proposed (Automation)     77000 Units (A)   123000 Units (D) Production…

Q: loaded cost of $600,000 per year are used to manually weigh real rubber, synthetic rubber, carbon…

A: Calculation of Equivalent uniform equal cost to determine the option to be opt. Net Present value…

Q: Wheels, Inc. manufactures bicycles sold through retail bicycle shops in the southeastern United…

A: The whole cost is the total quantity of funds invested to produce some type of outcome. Billing, the…

Q: ORANGE Company and its divisions are engaged solely in manufacturing. The following data pertain to…

A: Reporting segments are the one which the entity reports to compare the division performance for…

Q: Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for…

A: Ending Retained earnings = Beginning Retained earnings + Net income - Dividends declared where,…

Q: 3. Nicanor sold his residential lot located in Iloilo City. The Deed of Absolute Sale is dated…

A: Due date of Payment of Capital Gain Tax  Due date of Payment of Stamp Tax

Q: Depreciation continues to be one of the most controversial, difficult, and important problemareas in…

A: Depreciation is the purposeful, gradual reduction in the reported value of an item over its useful…

Q: On April 1, 2021, MNO Company borrowed $15,000 on an 8% note payable. The maturity date of the note…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Brush Company engaged in the following transactions at the beginning of 2019: 1. Prepare the journal…

A: A journal entry is being used to record any business transaction in a company's accounting records.…

Q: An Investment center has sales of $30,000,000, income of $9,000,000, and average assets of…

A: Residual income is calculated as excess return over the required return on assets

Q: What is the revenue to be recognized by Entity A for the year ended December 31, 2020?

A: Particulars Stand-alone amount Revenue Royalty   $25000 Non-Refundable Fees:     Construction…

Q: 5% mark-up based on co

A: When one company acquires the shares of other company then the former one is called holding company…

Q: Your IT company is working on a four-month project for a local mining company. The total planned…

A: Earned value=PV till date * percentage of work completed

Q: ABC company issued a 5 year $200,000 bond. The bond has a stated rate of 6% and the market rate of…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: The following is data relative to 12/31/21 inventory Item Original Cost Replacement End Inv Per unit…

A: Market value is the middle of the following: Ceiling= NRV Floor= NRV - profit margin Replacement…

Q: sells for $130 per unit. Variable expenses are $91 per stove, and fixed expenses associated with the…

A: Answers: 1.Profit = Unit CM × Q − Fixed expenses  $0= ($130− $91) × Q − $159,900 $0= ($39) × Q −…

Q: Print Item Estimating Doubtful Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An…

A: Allowance for doubtful accounts = Accounts receivable x % uncollectible Bad debts expense =…

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A: Material is a concept in auditing which is associated with defects and the figures that will affect…

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A: NCI on Jan 1, 2017                        6,63,000 Add change in retained earning from 2017 to…

Q: On January 1, 20x1, Raven Ltd. had 40,000 shares of common shares issued and outstanding. The book…

A: 1. Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders…

Q: Controls are classified as general as well as application. Discuss, using appropriate examples, any…

A: Internal Controls: Internal controls are the safeguards put in place within an organization to…

Q: ow much is the total deferred charges in 2023?

A: Basic Concept of Accounting  Deferred Charges

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A: When the seller agreed to ship the goods Its called FOB destination which means seller is…

Q: the partners plan to expand by opening a retail sales shop. They have decided to form the business…

A: Cash A/c PARTICULARS AMOUNT PARTICULARS AMOUNT Beg. Balance $0 (b) $100,000 (a) $188,000…

Q: The following are the inventories for the years 2019, 2020, and 2021 for Parry Company:

A: The income statement prepared by the company's management can be used to identify the organization's…

Q: From which of the following banks would cost be higher ? Bank W - 22% interest payable at maturity…

A: Interest A charge paid by the borrower to the lender for using the money is known as interest. There…

Q: The cost of an asset is $1,070,000, and its residual value is $220,000. Estimated useful life of the…

A: GIVEN   The cost of an asset is $1,070,000, and its residual value is $220,000. Estimated useful…

Q: . Prepare an income statement according to the variable costing concept. Gallatin County Motors Inc.…

A: 1. Computation of cost of goods sold under absorption costing systems. Production cost * sales unit…

Q: The following transactions are exempt from VAT, except:

A: Since here the question is regarding the exemption of VAT except for the transactions i.e the…

Q: Find the duration of a bond with a settlement date of May 27, 2023, and maturity date November 15,…

A: A bond is an instrument of debt used by companies to borrow loans or finances from willing…

Q: 8 Which of the following statements is/are correct? I.      The test for exemption from real…

A: Taxes are the main source of revenue for every government. It is a way of levying charge for the use…

Q: 19,000 dinars to be made on March 1, 2021 The materials are consumed immediately and recognized as…

A: DICLAIMER:SINCE YOU HAVE POSTED MULTIPLE SUB PART QUESTION, WE WILL SOLVE 3 PARTS .TO GET OTHERS…

Q: PPP is a Filipino residing in Muntinlupa City. Aside from being employed as an accounting supervisor…

A: Optional Standard deduction is a standard deduction of 40% which is allowed to be deducted from the…

Q: Proof

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: 17. As a newly hired IRS trainee, you have been asked to calculate the amount of tax refund or tax…

A: Tax owed/ (refund) = Tax liability- tax credit - payment

Q: $19,00O. This project would result In adoditional annual revenues of $6,000 for the next 5 years.…

A: Incremental Cost An incremental cost or differential cost is a business planning analysis that looks…

Q: How much was the income tax payable for the first quarter?  How much was the income tax payable for…

A: Minimum corporate income tax (MCIT) in total income, beginning in the fourth tax year following the…

Q: onstruction company budgeted P250,000 per year to pay for the cost of maintenance and repair of…

A: The cost decreases by the constant uniform gradient and This cost should be equivalent to the…

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.