Provide one example of a transaction that affect  service business and  merchandise business.

Q: Prepare a three-month cash budget for Golden Sun (January through March).

A:

Q: Which of the following entries appear on the parent company’s books to account for its investment in...

A: Solution Concept In case of the investment in subsidiary , the net income of subsidiary is credited ...

Q: Veronica and Jasmine are twin sisters. They recently bought a townhouse together because they knew t...

A: The process of making estimate regarding future expenditures with a planned level of income is calle...

Q: C purchases 80 percent of D. At the date of acquisition, D has revenue of P250,000 and expenses of P...

A: Since you have posted two different questions , we ll do the one question that is complete . Please ...

Q: The following accounts are from last year's books at Sharp Manufacturing: Raw Materials Work In Proc...

A: In this Question, we have to find out the manufacturing under applied and overapplied overhead  When...

Q: rue or False  _______1. Insolvency, insanity, or incapability to perform by a partner may cause the...

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first questi...

Q: THE SMITH COMPANY Using the business transactions below, complete T-accounts for the Smith Company. ...

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is recor...

Q: deposit

A: The government and the corporation raise finance by issuing bonds. The borrower is obligated to pay ...

Q: On October 1, 2002, Westridge Inc. issued, at 101 plus accrued interest, 800 of its 10 percent, $1,0...

A: "Since you have asked multiple questions, we will solve first question for you. If you want any spec...

Q: Use the following to answer questions 1 – 6 Case 1Case 2 Case 3 Case 4 Beginning inventory $20,000$8...

A: In Accounting, financial statement are prepared. financial statement consists of trading and profit ...

Q: RR Corporation acquired 80 percent of the stock of GG Company by issuing shares of its common stock ...

A: The question is related to Consolidated. The details are as under RR Corporation Share = 80% Non-con...

Q: Amazon acquired 100 percent of Ferries for P275,000. At the date of acquisition, Ferries had the fol...

A: Consolidation- The consolidated financial statement, which represents the financial status of both a...

Q: 23. In the absence of other revenue and gains and other expenses and losses, a merchandising company...

A: Net profit = Gross profit + non operating incomes - operating expenses - non operating expenses - ta...

Q: The following data pertain to Dakota Division's most recent year of operations. Income $ 17,500,000 ...

A: Residual income=operating income-(Average invested capital*Minimum desired return)

Q: C purchases 80 percent of D. At the date of acquisition, D has revenue of P250,000 and expenses of P...

A: The pre acquisition profit is the profit made by the Subsidairy company before acquisition made by p...

Q: Which of the following statements is/are true?   Statement I.  Norvs and May are committed for a le...

A: Auditing is made in order to authenticate that the financial statements as well as the internal cont...

Q: lease liability right of use of asset depreciation expense please use a table for explaining lease l...

A: A lease agreement is an agreement whereby the owner of the asset allows the lessee to use the asset ...

Q: CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a n...

A: Net present value is is one of the capital budgeting technique widely used by the management to eval...

Q: Nellie has paid $3358.46 in CPP this year. She makes $2800.00 per pay and is paid bi-weekly How much...

A: Some pension plans are exempt by tax authority to the certain level to encourage individuals to save...

Q: ABC Company provides the following details: Rf = 7% B = 1.20 Rm - Rf = 6% %3D %3D CALCULATE the cost...

A: Cost of retained earnings is the cost of funds that the company has generated internally. If the fun...

Q: Adjusted Trial Balance December 31 Account Title Debit Credit $ 41,000 2,300 Cash Prepaid insurance ...

A: The balance sheet shows the financial position of the company. It shows the assets, liabilities, and...

Q: Investors generally place their funds in equity securities because of:   a.The expected dividends b ...

A: Equity investment is the possibility to increase the value of the principal amount invested. This co...

Q: For each of the following (1) identify the type of account as an asset, liability, equity, revenue, ...

A: All assets, expenses, and losses have a nominal debit balance. While liability, revenue and income h...

Q: 18. $ Net Sales 19. $ Calculate cost of goods sold 20. $ Gross profit 21. % Gross profit ratio (roun...

A: Calculation of net sales, cost of goods sold, gross profit, and gross profit ratio are as follows

Q: The Majors Company collected the following information (in days): Inspecting product Transporting pr...

A: The production cycle time is the time it takes to transform raw resources into finished goods. It is...

Q: James Company has an arrangement with with Jorge Company that operates a customer loyalty program. T...

A: Customer loyalty programs are accounted for as per IFRS 15. Such a program is used by a company to i...

Q: For a liability to exist, a. a past transaction or event must have occurred. b. the exact amount mus...

A: Since you have posted multiple questions , we will do the first one for you . Please re-post the oth...

Q: We live in a perfect Modigliani Miller World without frictions. Vencidario Inc. has a mixed capital ...

A: The Modigliani-Miller theorem states that, regardless of capital structure, a company's market value...

Q: a company produces certain items at a labor cost of P 115 each, material cost of P 76 each and varia...

A: Break even point is that point where total cost and total revenue are equal ,i.e., there is no profi...

Q: In a business combination - stock acquisition, difference between current fair values and book value...

A: Solution Concept Goodwill                 In a business combination - stock acquisition, difference ...

Q: Which is true regarding the Investment in Subsidiary Stock account? * [a] It is accounted for in...

A:

Q: Record the necessary fair value adjustment on December 31, assuming that the market value of the com...

A: a.     "Answer Date              Particulars        Debit       Credit a. 4-Dec  marketable  Securit...

Q: Matt is withdrawing from the partnership of Matt, Lee, and Karla. The partners share profits and los...

A: The partnership comes into existence when two or more persons agree to do the business and share pro...

Q: Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plan...

A: The overhead cost can be allocated to production on the basis of traditional costing or activity bas...

Q: RR Corporation acquired 80 percent of the stock of GG Company by issuing shares of its common stock ...

A:            working notes 1)    Computation of Net assets of GG Company Particulars Amount PHP I...

Q: Saved Help Save & Exit A machine distributor sells two models, basic and deluxe. The following infor...

A: Sales quantity variance = (actual quantity- budgeted quantity) x contribution per unit Contribution ...

Q: hy do fraud examiners prefer documents over witnesses

A: Solution Concept \Fraud examiners                 Fraud examiners are the professional who examines ...

Q: What is the contribution margin for the Day Wear Division without the transfer to the Night Wear Div...

A: Solution:- Given, Investment = $8,80,000 Units produced = $1,19,000 Market Price = $12.20 per unit V...

Q: 3.-DO IT IN EXCEL, AND SHOW THE FORMULASThe main supplier of Productos Adiós, S.A., offers you the o...

A: Amount of bill $ 450,000                                   Discount Rate 1.5%                       ...

Q: 21. It is referred to as a portion of the value of all of the products that a salesperson sells. ___...

A: Commission is rewards to be paid for completing their task. 

Q: prises purchased equipment for... t for $75,500 on January 1, 2021. The equipment is expected to hav...

A: Solution Given Purchase cost 75500 Date of purchase January 1 2021 Residual value ...

Q: 2.  When interest expense is calculated using the effective-interest amortization method, interest ...

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first questi...

Q: 2. Explain why companies must follow accounting standards in presenting financial statements.

A: Accounting standards considered to be common set of standards. These are common set of procedures an...

Q: A law firm began November with office supplies of P16,000. During the month, the firm purchased  sup...

A: An adjusting entry is a section in an organization's overall record that happens toward the end of a...

Q: Part A: Journalize the following transactions for June. Dean Winchester opened Ghost Cleaners on Jun...

A: (Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the questio...

Q: The Asian Transmission Co. produces certain items at a labor cost of P 115 each, material cost of P ...

A: Break even point is the point which shows the number of units required to sold to cover the company'...

Q: w accounting standards in

A: the financial statements of a company are expected to present a true and fair view on the financial ...

Q: Required: 1. Prepare a flexible budget for all costs of production for the following levels of produ...

A: Flexible budget which change with the volume of production . Preparation of flexible budget are as f...

Q: Prepare a production budget for both the second and third quarters that shows the number of transmis...

A: Production budget is the budget in lets the company to know well in advance about how much units mus...

Q: Speak using the article style about the decision to distribute profits and its importance. Then he t...

A: