Retained earnings, May 1 $3,750,000 Net income 720,000 Cash dividends declared 80,000 Stock dividends declared 220,000 Ending Retained Earnings Balance??

Q: If Variable cost per unit decreases while selling price decreases, the new variable cost ratio in re...

A: Lets understand the basics. Variable cost ratio is a ratio which indicates the variable cost in comp...

Q: nswers

A: Bond Accounting : Effective interest Method Calculation of coupon payment Face value of 5% Bond 1...

Q: On January 1, 2018, ACJ Partnership entered into liquidation.  The partners' profit and loss ratios ...

A:

Q: In certain cases, the practitioner may issue review reports that include an Emphasis of Matter and O...

A: An emphasis of matter paragraph should be included in the review report when the practitioner feels ...

Q: How much is the investment income to be reported at the end of the current year? At the beginning of...

A: Investment in other companies for the sake of ownership or to received return in form of interest re...

Q: The Harriott manufacturing company uses job order costing system. The company uses mac hours to appl...

A: Job Costing It is a method of costing where all the costs like direct material, direct labour and ma...

Q: What are some costs of home ownership that are not deductible?

A: Costs are the monetary value of expenditures for goods, services, labor, products, equipment, and ot...

Q: Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) Calculate the following: Click here to ac...

A: As per Bartleby policy, only the first 3 parts of the interlinked questions are answered MACRS (Modi...

Q: Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1 5 Purc...

A: Journal entry is a process of recording and classifying business transactions into books of accounts...

Q: On September 8, 2020, Holly purchased a residential apartment building. The cost basis assigned to t...

A: Computation of total depreciation deduction for the year 2020 MACRS depreciation for 2020 + MACRS de...

Q: a. The home office has billed the branch the amount of P37,500 for the merchandise, which was in tra...

A: Determination of Adjusted balance of the Home office account:     Amount (P)   Branch account b...

Q: 10. On January 2, 2021, X Co. acquired all the ordinary share of Y Co. for P2,060,000. On that date,...

A: Take note that the existing Goodwill of Acquiree is written off and wont be included to your Book va...

Q: The partnership of X and Y was formed on June 1, 2021. At that date the following assets were contri...

A: Partnership is one of the agreement between two or more than two partners, in which they invest thei...

Q: On October 1, XYZ Company purchased P6,000 worth of goods on terms of 2/15,n/30. Freight of P500 was...

A: Discount received = Net purchase x discount rate Net purchase = cost of goods purchased - goods retu...

Q: Multiple choice: 1. This qualitative characteristic requires at least two items. A. Timeliness B. Co...

A: The answers for the multiple choice questions and relevant explanation are presented hereunder : The...

Q: Part A) If the average spending of Tobias and Antonia is $61,200 per year, (1) compute their liquidi...

A: Liquidity Ratio For Calculating the Liquidity Ratio to evaluate the total of liquid assets which are...

Q: Reuben Company retires a machine from active use on January 2, 2019, for the express purpose of leas...

A: Step 2 in solution. 

Q: 1. The business receives billing for electricity used during the period. Before the bill is paid, it...

A: Note:- Since you have asked multiple questions, we will solve the first question for you. If you wan...

Q: Croftmark Co. began operations on May 1. Its Work in Process Inventory account on May 31 appeared as...

A:   Direct costs: Costs related to a single territory, like a division or the actual project. direct c...

Q: No handwriting ,please  The Hilton's manufacturing company uses job order costing system. The compa...

A: Gross profit earned=Sales Revenue-Adjusted Cost of Goods Sold

Q: a. The home office has billed the branch the amount of P37,500 for the merchandise, which was in tra...

A:

Q: 023 is summarized as follow.

A:                   WQorking Note :- Particulars XY Sales Units AB Sales Units Old bugetedn units...

Q: 1. ABC Company operates a branch. At the end of the year, the Branch account in the books of the hom...

A: The home office account in the books of the branch shows the balance due to the home office by the b...

Q: rue or false. a decrease in cash assets is a debit?

A: Asset represents resources of the entity that are used in the process of revenue generation of busin...

Q: On October 1, 2005, Steve admits Martin for an interest in his business. On this date, Steve's capit...

A: At the time of admission of new partner into the partnership, existing assets and liabilities are be...

Q: Atlanta Systems produces two different products, Product A, which sells for $450 per unit, and Produ...

A: Calculation of Manufacturing cost per unit of Product A and Product B   (per unit)  Product A   P...

Q: The partnership agreement of Kray, Lamb, and Mann provides for the division of net income as follows...

A: Partnership is one of the agreement between two or more persons, in which they invest their capital,...

Q: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information fo...

A: The computation of the table above contains budgets and actual information for the month of June are...

Q: Express the gross profit (GP) in money and as a percentage in the table below. (15 points) Selling ...

A: Solution: Gross profit is calculated as  = Sales - Cost of goods sold Gross profit ratio = Gross pro...

Q: INVENTORY  1. At the start of the year wellness has 3,000 IV.  During the year it buys 5,000 IV.  I...

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

Q: Home Office Branch Sales P 256,000 P 78,500 Purchases from outsiders 210,000 20,000 Shipments to bra...

A: a. Mark up on purchase = (40,000 - 30,000)/40,000 = 25% of Billing price Inventory at cost on Decemb...

Q: On January 1, 2021, Stoops Entertainment purchases a building for $550,000, paying $10,000 down and ...

A: The journal entries are prepared to keep the record of day to day transactions of the business. 

Q: onsulting firm that uses job order costing to capture th ewere no consulting jobs in process at the ...

A: Job order cost system determines the cost of each individually as each job is different from one ano...

Q: Prepare Journal Entry

A: Notes Receivables are those receivables which the company has which will be received by the company ...

Q: Multiple choice: 1. At the beginning of the period, a business has a cash balance of ₱20,000. During...

A: Ending cash balance = Beginning cash balance + Cash collections - cash payments

Q: The following chart types are preferred for depicting quantitative data except Multiple Choice Scatt...

A: There are two types of data that is being analysed for decision making. It consists of qualitative d...

Q: Multiple choice: 1. The accounting standards that are currently used in the Philippines are referred...

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

Q: Using experts can provide high quality audit evidence in specialist situations, therefore the audito...

A: Introduction:- Auditor’s can use an expertise according to requirements other than accounting. Audi...

Q: On June 1, Parker-Mae Corporation (a U.S.-based company) received an order to sell goods to a foreig...

A: GIVEN   On June 1, Parker-Mae Corporation (a U.S.-based company) received an order to sell goods to ...

Q: Grygiel Company leases a nonspecialized machine with a fair value of $40,000 to Baker Company. The l...

A: Residual value is the leftover value of an asset after the end of its useful life.

Q: a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for ...

A: Bank reconciliation seems to be a critical accounting procedure wherein firms compare their bank sta...

Q: SMC Inc. leased a machine on January 1,2011 to SM Inc. with the following pertinent information: Ann...

A: The right-of-use asset is a lessee's right to use an asset over the life of a lease. The asset is ca...

Q: lad the 9. Michael and Jackson are partners following transactions during 2020: Jackson Michael Debi...

A:

Q: Calculate William's maximum depreciation deduction for 2020, assuming he uses the automobile 100 per...

A: Solution:- Given, New Passenger automobile (September 30) = $62,200 Baking equipment (June 30) = $18...

Q: Larger firms should carefully consider their competence to take on an audit client in a specialized ...

A: Competence is one of the important quality required for the auditor. He can conduct the audit only i...

Q: al withholding of 15% and state withholding of 5%. Using this information, what is the correct journ...

A: Every Employer would pay the wages to its employees after deduction of Federal withholding, State wi...

Q: what amount will be reported for Shareholders’ Equity in the combined company’s statement of financi...

A: Shareholders’ equity is the total amount of the capital which is associated with the shareholders me...

Q: Rainbow Company reported the following balances at the beginning of current year,             Accou...

A: Solution A journal is a company's official book in which all business transactions are recorded in c...

Q: X and Y formed a partnership on January 1, 2020. X contributed net assets of P500,000 and Y no capit...

A: Ending capital balance = Opening Capital balance + Interest on capital + Salaries and bonus received...

Q: 3. The following information came from the books and records of ABC Corporation and its branch. The ...

A: The question is related to net income and net income is calculated from sales-cost of goods sold sel...

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.