please answer parts 16, 17, and 18
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A: Solution Vacation expense for the year 2020 = 41000 Abc company should report vacation pay expense...
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A: Actual return on pension plan assets =Fair value of plan assets on 31/12/2020 - Fair value of plan ...
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A: Direct material is that cost of material which is used directly for production and manufacturing of ...
Q: What is the number of shares outstanding?
A: Answer - c.44,000
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A: Total asset turnover ratio is an efficiency ratio. This efficiency ratio determines a company’s abil...
Q: 7..new Sage Industries and Pronghorn Inc. enter into an agreement that requires Pronghorn Inc. to ...
A: Lease is the facility available to the lessee to use the asset for a certain specified period as per...
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A: GMROI is the gross margin return on investment. This is usually used in retail industry. This is use...
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A: Cash Flow from Operating Activities means cash is generated from the principal revenue generating ac...
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A: Solution: Adjusting entries are journal entries prepared at the end of period to adjust the accounts...
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A: Lease: A lease is an arrangement between two parties where the asset's owner permits the other par...
Q: January 25 Received $1150 cash for laundry services provided in January 2022. JOUonal eny y
A: Journalizing the transaction is the recording of the transaction at the initial stage and preparing ...
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A: Consolidation adjustment entry is the accounting entry that is to be made for consolidating the book...
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A: As lease agreement provides transfer of title of asset to the lessee at the end of the lease term, t...
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A: Since full month of amortisation is to be followed, thus it shall be treated as the organization cos...
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A: Income tax seems to be the amount of tax collected by the federal government on the earnings of indi...
Q: Direct Materials Beginning balance S5,000 Ending balance 16,000 Purchases 55,000 Direct materials us...
A: The direct materials used is calculated as difference between total direct materials available for u...
Q: For which of the corporate distributions listed below may loss be recognized? Question options: ...
A: Introduction Corporate distributions are the distribution of cash, stock or property to its sharehol...
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A: Sales of goods means when goods are being delivered to some outside party. Sales can be made on cash...
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A: Treasury stock is that stock which is being reacquired or repurchased by the company from its shareh...
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A: Under periodic weighted average inventory system we need to calculate weighed average cost per unit ...
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A:
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A: Liquidity of the company means short term debt paying capacity of the business. It means how much a ...
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A: Accounting is the detailed process of recording, classifying, summarising and preparing financial st...
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A: JOURNAL ENTRIES SL Date Particulars Dr. Cr. 01-Sep Cash 50000 To,...
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A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the org...
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A: P/E ratio = Share Price/Earnings per share ROE = Net Income/Average shareholder's equity D/E ratio =...
Q: Direct Materials Beginning balance $5,000 Ending balance 16,000 Purchases 55,000 Direct materials us...
A: Formula: Direct materials used = Beginning balance of Direct materials + Purchases - Ending balances...
Q: Identify which of the following accounts would be listed on the company’s Post-Closing TrialBalance....
A: Closing entries are those journal entries which are passed at the end of accounting period in order ...
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A: There are two type of costs which are incurred in business. Fixed costs are costs which will not cha...
Q: Sage Industries and Pronghorn Inc. enter into an agreement that requires Pronghorn Inc. to build thr...
A: The question is based on the concept of Lease Accounting.
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A: The future value is computed by multiplying the invested amount by the future value factor. The futu...
Q: Additional data: The disposal cost of each inventory A, B, C, D, and E amounted to 10% of the inven...
A: In case of questions with more than 3 sub-parts first three sub-parts are solved. Post the rest sub-...
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A: The shares issued against non cash assets care valued on the basis of fair value of shares or fair v...
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A: Balance of employee compensation expense as on 1st January 2008 = 4,500 shares x 10 per share = 45,0...
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A: Risk is frequently mistaken with uncertainty. Uncertainty describes a situation in which the result ...
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A: Expected dividend (D1) = Php 0.75 Required return (rs) = 10.5% Growth rate (g) = 6.4%
Q: ASSETS 2010 2009 LIABILITIES AND EQUITY 2010 2009 Cash and equivalents Short-term investments $ 10 S...
A: Note:- Since you have posted a question with multiple sub-parts, we will solve the first three sub-p...
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A: Interest expense = Interest accrued - Amortization of premium where, Accrued interest = Face value o...
Q: The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Cr...
A: Solution Working note - Present value of minimum lease payment = (Annual lease Payment *PVAD for 9% ...
Q: Land $151000 Land (held for future use) 231000 Buildings 1080000 Inventory 221000 Equipment 670000 F...
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net...
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A: Introduction:- Financial statements are formal records of a company's, individual's, or other entity...
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A: Decrease in Deferred Tax Asset = P500000 - P200000 = P300000 Decrease in Deferred Tax Liability = P6...
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A: Variable costs are those costs which changes with change in level of activity and fixed costs are th...
please answer parts 16, 17, and 18
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- The following select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
- The following select financial statement information from Candid Photography. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3 times and days sales in receivables ratio is 150 days?Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Using the following select financial statement information from Mover Supply Depot, compute the accounts receivable turnover ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Mover Supply Depot if the industry average is 4 times?
- Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?Ratio Analysis The following information was taken from Nash Inc.s trial balances as of December 31, 2018, and December 31, 2019. Required: 1. Calculate the net profit margin and accounts receivable turnover for 2019. ( Note: Round answers to two decimal places.) 2. How much does Nash make on each sales dollar? 3. How many days does the average receivable take to be paid (assuming all sales are on account)?
- Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 daysBerry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?