Roath plc has a large finance function. In two different sections of the finance function, the cash budget is being updated and a breakeven analysis is being prepared for a new product Staff in which sections of Roath pic's finance function will be involved in this work A. In the management accounting and treasury management sections B. In the financial reporting and treasury management sections C. In the management accounting and transactions recording sections D. In the financial reporting and transactions recording sections
Q: premium for one year beginning March 1, 201x2. 4. The Office Supplies in the unadjusted trial…
A: Adjusting entries are those type of journal entries which are passed at the end of accounting…
Q: How much is the amount due at the end of 5 years if the proceeds are $12,000 and the discount rate…
A: Time value of money :— According to this concept, value of money in present day is greater than the…
Q: What are the adjusting entry in this problem?
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: How can a system ensure that those who benefit most from an accounting standard requiring certain…
A: Free-riders are those who utilise information once it is openly accessible.Information can be sold…
Q: Integrity Company manufactures two products, Alpha and Beta from a joint process. One production…
A: Joint Process :— It is the process by which different products are obtained from only one common…
Q: Red Ink Company signed a note payable to its bank for P10,000. Accrued interest on the note on…
A: Introduction:- The following basic information as follows under:- Red Ink Company signed a note…
Q: warranty is a separate performance obligation if the customer has the option to purchase the…
A: OPTION IS D INCORRECT REMAINING ALL CORRECT
Q: e system was estimated to require a complete upgrade in five years to avoid obsolescenc ncurred for…
A: Allocation cost refers to the complete process of determining the expenses involve din identifying,…
Q: you need $8,000 four years from now for a down payment on your future house. How much money must you…
A: The formula for compound interest: Final amount (A)=Initial principal balance (P)×1+ratetime
Q: Blue Corp., provides a noncontributory defined-benefit pension plan for its employees. The company's…
A: Pension fund assets seem to be assets purchased with deposits to a pension plan for the sole…
Q: The annual amount of tax deductible contributions to qualified retirement plans are the same as the…
A: The retirement plan refers to an investment plan or saving plan for post-retirement days. In the…
Q: Accounting On January 1, 2022, Pronto Company acquired all of Speedy Inc.'s voting stock for…
A: C $2400000 Please fallow the answer below Sales revenue. 840,00,000 Less:COGS…
Q: During 2019, Namnama Company introduced a new product carrying a two-year warranty against defects…
A: The price that a business expects to pay for the replacement or repair of goods that customers buy…
Q: Given Sales P 1,800,000; Purchases P 684,000, Ending Inventory P 168,000, Operating expenses P…
A: Solution: Cost of sales is computed as = Sales - Gross profit Net income = Gross profit - Operating…
Q: ypes of people: A, B, and C. Types are not ea: ves their proportion in population and their p vage…
A: Investment bank refers to the form of a bank that buys large holding of new launched shares in the…
Q: For the year ended December 31, 2021, White Company reported pretax financial income of P5,000,000,…
A: Deferred tax: It refers to the estimate that is accounted in the company's financial records as a…
Q: How much is shareholders’ equity, beg. assuming that the cash balance, ending amounted to P50,000?
A: Shareholders’ equity is the amount of the money or the worth which has been invested by the owners…
Q: Bea Corp. has a branch in Divisoria established on May 31, 2022. During 2022, the home office…
A: Cost of merchandise to the branch would be the sales value of the merchandise by the home office.…
Q: benefit-risk analysis
A: A Break-even point is where the company is in a position to make no profits and no loss. The…
Q: Explain how a strategic understanding of a client’s business may increase the value of the audit…
A:
Q: subscription default assuming 1,500 shares out of the 7,000 shares were unable to pay the last…
A: •Share holders a/c dr 2,31,000 To share capital a/c 2,31,000
Q: 2. A company is where the members guarantee the payment of certain (usually nominal) amounts if the…
A: An group of persons who donate money or money's worth to a common fund and use it for a purpose is…
Q: INCOME STATEMENT 1. From the partial work sheet for Adams' Shoe Shine below, prepare an income…
A: Income Statement :— It is one of the financial statement that shows the profitability of company…
Q: Integrity CORP uses job order costing. At Jan 31, only Job 101 was the only job in process with…
A: As per question We have to calculate the adjusted Cost of good sold where over - under applied…
Q: Liam acquired a machinery purchased for P 1,100,000.00 and paid for transportation charge of P…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: Blue Corp., provides a noncontributory defined-benefit pension plan for its employees. The company's…
A: Pension Asset: The assets of a pension fund are defined as those assets that were purchased with the…
Q: In 2021, XYZ Corporation, acquired 3,000 shares of its P20 par value ordinary share capital at P72…
A: Treasury stocks are reacquired shares by the company. These treasury shares can be the issued in…
Q: S Corporation, a 75% owned subsidiary, of P Corporation, sells inventory items to its parent company…
A: Subsidiary revenues include any earnings, receivables, receipts, revenues, cash, profits, fees for…
Q: The following information relates to the pension plan of Brown company. Defined benefit obligation,…
A: Retirement benefits are those benefits or expenses which are incurred for making payment to…
Q: Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that…
A: Journal - A journal is a thorough account that documents all of a business's financial activities.…
Q: The downtown Kingston and Saint Andrew Centre were built for $400 million JAD in 2010 (Reid, 2012).…
A: Stakeholders: A party is considered to be a stakeholder in an organization if it has an interest in…
Q: how does it became an over applied OH? how will you know that it is under or over applied OH?
A: Lets understand the basics. When applied overhead is more than actual overhead then it is known as…
Q: Inferring Transactions from Financial Statements (FSET) Mendoza Mercado (Mendoza) is a small…
A: >Inventory is the amount of stock that is to be sold to the customer. >This is accounted for…
Q: Integrity Company uses standard costing for each specialized product. The following information is…
A: Introduction:- Material usage variance also known as material quantity variance. It is is the…
Q: The Home Office in Albay shipped merchandise costing P30,000 to Legazpi Branch and paid for the…
A: Amount debited to sorsogon branch in home office books includes the amount of goods sent to sorsogon…
Q: The plant manager of Integrity Products Co. gathered production statistics for October as follows:…
A: According to the given question, we are required to determine the EUP conversion using the average…
Q: On January 1, 2021, Blue company purchased P1,000,000, 12% bonds for P1,065,000, a price that yields…
A: In a table known as a bond amortisation schedule, the sum of interest paid, interest accrued, and…
Q: The accounting firm Seaver & Co. prepares its own financial statements at the end of each year.…
A: Adjusting entries are those journal entries which are passed at the end of the period for the…
Q: please answer in detail with all work thanks The company X acquired a bond on 1/1/2022 AND with a…
A: Bond is that debt instrument which is used by the organisation to finance its long term fund…
Q: Consider the following liabilities of Future Brands, Inc., at December 31, 2021, the company's…
A: Q1. The note is classified as Long-term liabilities as the same is payable after12 months though…
Q: The Shoe Factory produces two types of shoes: Walking and Running. The following budgeted…
A: Overheads means all indirect costs being incurred in business. Under traditional costing method,…
Q: At Trent Company, there are 800 units of ending work in process that are 100% complete as to…
A: Given, Trent Company Units= 800. Cost of materials= $3. Total costs assigned= $6000(800 Units).
Q: Three reputed cell phone companies are offering the latest model of iPhone for $399 if you sign a 2…
A: Relevant cost is the cost which is relevant in decision making of choosing one or more available…
Q: The ABC Corp, was organized on September 1, 2022 with authorized capital of 1,000,000 shares of P50…
A: Dividend per share: Dividend per share is calculated for Preferred stock as well as Common Stock.…
Q: On November 1, 2022, SAN JOSE receives an order from a customer for a computer as well as 12 months…
A: Unearned sales Revenue: Unearned sales Revenue means money received from the customer in advance for…
Q: You would like to purchase a car with a negotiated price of $39,000, and the dealer offers financing…
A: Given: - Price: - $39,000 Period: - 4 years Rate: - 6% Payment: - monthly
Q: -- Homework Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing…
A: Fixed cost remains same irrespective of number of units produced Given fixed manufacturing overhead…
Q: On July 1, 2021, X, Y and Z formed a partnership with X as an industrial partner, Y and Z…
A: A partnership is an agreement between two or more partners where partners are agreed to work…
Q: Green Corporation began operations in 2021. An analysis of Green’s equity investments portfolio…
A: Unrealized holding loss=Aggregate cost of Non-trading Investments- Aggregate Fair value of…
Q: 2. Prepare the Operating Activities section under the Direct Method As of June 30, 2020, the…
A: Cash flow statement is a statement made to know about the movement of cash i.e. inflow of cash and…
Roath plc has a large finance function. In two different sections of the finance function, the
Staff in which sections of Roath pic's finance function will be involved in this work
A. In the
B. In the financial reporting and treasury management sections
C. In the management accounting and transactions recording sections
D. In the financial reporting and transactions recording sections
Step by step
Solved in 5 steps
- A company has prepared the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Identify the document that contains each of these balances. A. cash B. accounts receivable C. finished goods inventory D. accounts payable E. equipment purchasesWhich of the following is correct? a. The Controller is responsible in overseeing financial accounting, and cost accounting functions of the firm. b. Both the Controller and Treasurer reports directly to the company’s Chief Audit Officer. c. The firm’s Controller manages the firm’s cash and manages key risks. d. Capital budgeting process is under the controller’s responsibility since this process involves potential cash disbursementStatement 1: The Financial Controller approves executive decisions and decides on the firm’s budgets. Statement 2: The Financial Controller gives managerial advices to the executives regarding the financial affairs of the firm. Statement 3: During decision making phase, budget proposals should match with the current financial condition of the firm and with the financial forecasts. Statement 4: The Financial Controller leads two important functions in the finance department such as accounting and treasury. Statement 5: The Financial Controller can handle both accounting and treasury in case the firm has limited resources. a.All statements are true b. Statements 1, 2 and 3 c.Statements 2, 3 and 4 are true are true d. Statements 3, 4 and 5 e.Statements 1, 3 and 5 are true f. Statements 2, 4 and 5 are true are true
- Currently, the activity found LEAST often within the controller's department isa. budget preparation. b. updating the general ledger. c. maintaining accounts receivable records. d. establishing and maintaining a market for the organization's debt and equity securitieJohn Ozment, director of special projects and analysis for Ozment’s Corporation, is responsible for preparing corporate financial analyses and monthly statements and reviewing and presenting the financial impacts of proposed strategies to upper management. Data for such financial analyses are obtained from operations and financial databases through direct queries of Ozment’s department staff. Reports and charts for presentations are then prepared by hand and typed. Multiple copies are prepared and distributed to various users. The pressure on Ozment’s group has intensified as demand for more and more current information increases. A solution to this reporting problem must be found.The systems department wants to develop a proprietary software package to produce the reports automatically. The project would require the company to make a considerable programming investment. Ozment is concerned about the accuracy, completeness, and currency of data in automatically produced reports. He has…John Ozment, director of special projects and analysis for Ozment’s Corporation, is responsible for preparing corporate financial analyses and monthly statements and reviewing and presenting the financial impacts of proposed strategies to upper management. Data for such financial analyses are obtained from operations and financial databases through direct queries of Ozment’s department staff. Reports and charts for presentations are then prepared by hand and typed. Multiple copies are prepared and distributed to various users. The pressure on Ozment’s group has intensified as demand for more and more current information increases. A solution to this reporting problem must be found. The systems department wants to develop a proprietary software package to produce the reports automatically. The project would require the company to make a considerable programming investment. Ozment is concerned about the accuracy, completeness, and currency of data in automatically…
- How can an auditor use the following topic in his future work? Evaluate financial decision-making to ensure compliance with accounting standards, rules, and regulations. Apply Generally Accepted Accounting Principles (GAAP) to record financial information. Analyze financial statements to inform current business decision-making and draw conclusions about the financial health of a company. Recommend budget planning strategies based on the financial performance of a company.Describe the business and its core operations. Explain what data you would use to inform the budget and why this data would be relevant. Who else would you involve in developing the budget? Draw up the budget to cover the next financial year. Explain how the budget would be used to monitor the financial performance of the organisation. List and explain the application of statutory and legislative requirements as they apply to financial management within a business organisation. Write a report explaining how the budget that you have developed contributes to financial management. Present this report verbally in order to demonstrate your communication skills as well as the ability to explain budgets and deal with questions. Analyse the existing financial management approaches of the organisation. Are there any recommendations you should make and what are they? What software packages/ programs have you used when developing the budget and how did these assist?Financial plan - it is a document that summarize the current financial situation of the firm, analyzes financial needs, and recommends a direction for financial activities. in regards to the financial plan, what is... •An analysis of the firm’s current financial condition as indicated by an analysis of the most recent statements•A sales forecast•The capital budgets•The cash budget•A set of pro forma (or projected) financial statements•The external marketing financing plan
- A budget is a detailed plan of all the economic activities of a business. It acts as a business barometer. It is usually prepared in the light of past experience. It is a constant endeavor of the management.Which of the following statements are true? a. Screening projects of the company and determining whether they are profitable or not is part of the financial manager’s investing role. b. A financial manager emphasizes that one of the roles of their department is to transact in the financial markets. c. In an organizational chart, a financial manager who is concerned with determination of product cost and cost control function must be under the Treasurer’s Function. d. A financial manager who is tasked to assessment the company’s credit capacity. In an organizational chart, he must be under the controller.Which of the following statement is required for maintaining Inter-relation with other departments by finance manager? a.He must be well versed in the field of capital budgeting techniques to determine the effective utilization of investment b.He should have sound knowledge not only in finance related area but also well versed in other areas of activity c.He must concentrate to the principles of safety, liquidity and profitability while investing capital d.He is responsible to estimate the financial requirement of the business concern