Question: List 3 internal control procedures that are necessary in a large organization?

Q: A manufacturer of cedar shingles has supplied the following data: Bundles of cedar shakes produced…

A: A contribution margin is an excess value of sales revenue over the variable cost. It is also an…

Q: ou have the following information for Tamarisk, Inc. for the month ended October 31, 2022. Tamarisk…

A: Lets understand the basics. In FIFO basis entity assumes that, goods purchased first are sold first…

Q: Problem 1 On January 2008, Vasen Company purchased equipment at a cost of P2,500,000 to be used in…

A: Depreciation expense is the reduction in the value of asset due to its wear and tear or use.…

Q: Jerry and Sherry own and operate a partnership. Jerry’s capital balance is $50,000 and Sherry’s is…

A: Hello. Since your question has multiple sub-parts, we will solve the first three complete sub-parts…

Q: Ron and Hermione formed Wizard Corporation on January 2. Ron contributed cash of $260,000 in return…

A: Solution: RON does not realize gain on this transfer because only cash is transferred. As a result,…

Q: Company A sells premium water bottles. The fixed costs is 29,709. The variable cost associated with…

A: Let the number of bottles company sold next month be X Desired profit for next month = $11,083…

Q: Bristo Corporation has sales are $66,000, the degree of operating leverage is: O 9.50 O2.07 O 7.60…

A: Operating leverage is a cost accounting formula that measures the degree to which a firm or project…

Q: statements

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Q: Revenues,  expenses and withdrawal would not appear on an.

A: Revenues are the income earned by the entity. These are reported in the income statement. Expenses…

Q: e hockey stick sells for $130. Description ning Inventory mase Units 16 61 Ur

A: Answer : FIFO = First in first out Moving weighted average = average base

Q: Jada (age 53) and Elijah (age 60) are married, and both are self-employed. In 2022, they participate…

A: 1. You are eligible to open and make contributions to an HSA under federal regulations if you: Are…

Q: What are the amounts of the unrecognized tax benefits? h) What are the penalties and interest…

A: Federal R&D Should be Reduced From Taxable Income.

Q: The supplies account had a balance of $1,443 at the beginning of the year and was debited during the…

A: Supplies account refers to the account which has a normal debit balance and is used to record the…

Q: In current asset management, what is the float? How would paying by check allow a business to take…

A: A Float is a gap of time between the recording of the transaction and the actual fund being…

Q: Discuss the different types of non-current liabilities.

A: Non-current liabilities, or long-term debts, are payments that become due after 12 months. Since…

Q: Computing and Evaluating Inventory and PPE Turnovers Intel Corporation reports the following…

A: The question is based on the concept of Cost Accounting. Inventory turnover is calculated by…

Q: Eres Hermoso Company includes one coupon in each box of laundry soap it sells. A towel is offered as…

A: Often, organizations want to sell more products to customers, and to achieve this, companies launch…

Q: Joe Levi bought a home in Arlington, Texas, for $126,000. He put down 30% and obtained a mortgage…

A: The question is based on the concept of Annuity in Financial Management. Annuity refers to the…

Q: Periodic inventory by three methods; cost of goods sold The units of an item available for sale…

A: FIFO Method :— Under this method, beginning inventory and old purchases is used for output or sales…

Q: Required a. Record the Year 1 events in general journal form and post them to T-accounts.

A: General Journal Entry A journal entry is a volume of unedited commercial transactions listed in…

Q: Knowledge Check 01 Messing Company has an agreement with a third-party credit card company, which…

A: Credit Card Expense - Credit Card Expenses are the Expense incurred by the company due to immediate…

Q: Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July…

A: The question is based on the concept of Cost Accounting.

Q: Ingrum Corporation produces and sells two products. In the most recent month, Product R3&T had sales…

A: Break-even point is the point where fixed cost is equal to Total Revenue.   In the given question,…

Q: M15.

A: Conversion costs: Costs that are incurred to convert raw material into the completed products.…

Q: Mario, a self-employed plumber, makes a maximum contribution to a SEP for his employee, Peach.…

A: A SEP IRA is a basic individual retirement account much like a traditional IRA. SEP IRAs are for…

Q: The assignment of accounts receivable journal entries are based on the following information: 1.…

A: Golden Rules of Accounting: Account Debit Credit Personal Accounts The Receiver The…

Q: Hollow Company incurred the following expenditures related to the construction of a new home office:…

A: When purchasing land, there are some charges that are common and required, and it is appropriate to…

Q: QUESTION 1 a) Diana started her business on 1 July 2021. transactions during July 2021 were as…

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Q: Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct…

A: Fixed manufacturing overhead refers to the expenses which does not change its valuation as per the…

Q: Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On…

A: The balance sheet is one of the financial statements of the business which represents the financial…

Q: Pearce Company uses the FIFO method in its process costing system. The Mixing Department started the…

A: Manufacturers make products, but some products require two or three processes to complete. This type…

Q: Prepare the March journal entries for STU Corporation; remember to include an explan journal entry…

A: Journal entry is defined as the recording of transactions in the books of the company. In the…

Q: The following is a list of accounts and adjusted amounts for Rollcom, Incorporated, for the fiscal…

A: Trial Balance contains all those ledger balances which have a closing balance on a particular date.…

Q: How are you calculating the $6000 for July

A: Write off the remaining amounts owed from services provided in 2021 on July 2, 2022 = 16000 – 10000…

Q: On January 1, 2023, Monty Corp. had 206,000 common shares outstanding. On April 1, 2023, 20,600…

A: Earnings per Share can be referred to as a measure which is used to indicate the profit which is…

Q: Journalize entries for recognizing accounts receivable. E9.3 (LO 1) Presented below are two…

A: Since you have asked two independent situations, we will do the first one for you. Please post the…

Q: The following units of an item were available for sale during the year: Beginning inventory 48 units…

A: Perpetual inventory system is the one wherein the costs of inventory and its units are to be…

Q: Using the dividend growth model, an analyst has estimated that her company’s cost of equity capital…

A: The dividend is the amount that is distributed among the shareholder as a part of their earnings on…

Q: Are any time lags in recording economic events typically experienced in payroll systems? If so, what…

A: Economic developments take time to record. There is a gap in time between two processes. The time…

Q: Question: Delta Company issued $1,000,000, 4%, 10-year, bonds. Interest to be paid semiannually. The…

A: Bond valuation is a method that is used to determine the theoretical value that should be assigned…

Q: Using the Redwood City Pet Shoppe Unadjusted Trial Balance from July 31st, prepare the followir…

A: Adjustment entry are entries recorded at the end of the period to provide updated and accurate…

Q: The purpose of an audit trail is to be able to trace a transaction from its origin through source…

A: An audit trail is a detailed record that may be used to identify the origin of accounting, trade…

Q: Sunland Company started business on January 1, 2024. Some of the events that occurred in its first…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: The controller of Crane Production has collected the following monthly cost data for analyzing the…

A: Mixed-cost problems are solved using the High -Low-cost method. Variable cost per unit = (Highest…

Q: Farris Corp operations: Selling price its in beginning inventory Units produced Units sold $96 O…

A: Under Absorption costing, Only Variable manufacturing costs and Fixed manufacturing overhead costs…

Q: Based on the knowledge that you have learned from this unit and the relevant accounting standards,…

A: Accounting standard:   It is a collection of standards used to record all accounting transactions…

Q: The company's common fixed expenses total $83,200. The break-even in sales dollars for Alpha…

A: Break even point = (Fixed expenses) ÷ (Profit volume Ratio)   Contribution margin = Sales - Variable…

Q: Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere &…

A: INTRODUCTION: Depreciation is the deliberate, progressive decline in the reported value of an asset…

Q: Crow inc. had revenues of $45,000 and  net income of $3,400. What are the company's expenses ?

A: calculation of company's expenses are as follows

Q: Steve Grayson, is self-employed age 43. He has established a SEP-IRA for himself several years ago.…

A: SEP-IRA is a retirement plan where any person can open his account and save money. There is a…