Selected information from the separate and consolidated income statements of Poster Corporation and its subsidiary, Sign Company for the year ended December 31, 20x2 are as follows:

Q: Fallin Pharmaceuticals expects to incur a rate of $20 per hour for its workers on the assembly line....

A: Budget means the expected value of future. Budget is not affected by the actual value as it is prepa...

Q: Peter Joshua established an advertising and marketing company registered with the DTI under the name...

A: Theory - Journal entries are the first step of recording the transactions, we can prepare the journa...

Q: One element of the general transfer-pricing rule is opportunity cost. Briefly define the term 'oppor...

A: Opportunity cost is the benefit foregone from choosing the next best alternative in a decision makin...

Q: On January 1, 20x1, Puno Inc. acquired 80% interest in Dong Company. During 20x2, Puno and Dong repo...

A: Business combination refers to the agreement or contract between two companies in which a company ob...

Q: Beginning inventory consist of 800 units at P200 each. Purchases made for the period: January 18 for...

A: Total cost = Cost per unit * Number of units The question requires purchase cost of goods purchased ...

Q: On Jan. 1, 2021, Yumi Co. settled a P 1,000,000 loan payable with an unamortized discount of P 20,00...

A: Solution: carrying value of loan = Loan amount - Unamortized discount = P1,000,000 - P20,000 = P980,...

Q: QUE Ltd had the following activity during 2020: Proceeds from sale of long-term $156,000 investments...

A: Answer) Calculation of Cash flow from Financing Activities    Amount Cash Flow From Finan...

Q: Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its dire...

A: Answer) Calculation of Total Manufacturing Cost Assigned to Job A-500    Amount Direct Mat...

Q: Can you help me with this question

A: The question requires entry on March 1 and March 20 March 1 : The day fund was established March 20 ...

Q: Use the following standard cost card for 1 gallon of ice cream to answer the questions. STANDARD COS...

A: The practise of reviewing your project's financial results is known as cost variance. The cost varia...

Q: Requlred Informatlon Use the following information for the Exercises below. [The following informati...

A: Under unit of production method of depreciation, depreciation allows on the basis of production each...

Q: Explain in your own words the meaning of the terms in the figure from Unit 3 below: Assurance, Inter...

A: An audit refers to a process wherein the auditor examines or inspects numerous books of accounts in ...

Q: Rean gets a job with a starting monthly salary of 20,000.She is promised by her employer to receive ...

A: Rean’s monthly salary in first year will be $ 20,000 per month. Since she gets monthly increases of ...

Q: Requlred Informatlon Use the following information for the Exercises below. [The following informati...

A: Solution.    Cost = $85,400  Salvage = $5,000  Production = 402,000 units over the useful life  Prod...

Q: A company sells three different products.The following inventory information is available on Decembe...

A: Inventory - Inventory is the value of assets held by the company not sold during the year. It is the...

Q: Diaz Company owns a machine that cost $126,800 and has accumulated depreciation of $93.000. Prepare ...

A: ANSWER SITUATION 1 RECORD THE DISPOSAL OF MACHINE RECEIVING NOTHING IN RETURN ON JANUARY 01. ACCUMUL...

Q: e interoffice account between the home office of Ayala and cember 31 of last year. The transactions ...

A: In this question, we have to solve the unadjusted  balances of home office and investment in branch.

Q: Classify the following items that may cause discrepancy between accounting profit and taxable income...

A: 1. Collections of rental in excess of rent revenue reported during the period is a Taxable temporary...

Q: Comparative balance sheet accounts of Sarasota Inc. are presented below. SARASOTA INC. COMPARATIVE ...

A: A Cash flow statement is prepared to analyze the inflows and outflows of cash and cash equivalents d...

Q: Instructions Journal Creative Images Co. offers its services to individuals desiring to improve thei...

A: General Concepts regarding Closing entries: #1:Temporary accounts, like Revenue accounts, have n...

Q: 1. A business is generating $100,000 per year for the next ten years except year 5 (used for overhau...

A: Solution Formula used Equal annual revenue    =present value of revenue / present value of annuity f...

Q: During 2011, Vien Co. introduced a new line of machines that carry a three-year warranty against man...

A: Warranty liability = Total expense recognized - Actual warranty expenditure The question requires ca...

Q: Exercise 8-18 Depletlon of natural resources LO P3 Montana Mining Co. pays $4,310,280 for an ore dep...

A: The correct answer for the above question is given in the following steps for your reference. 

Q: Jo, Pat and Espie are partners in a marketing consultancy firm and share profits and losses in the r...

A: Liquidation of partnership is done through the Realization account. All the assets and liabilities o...

Q: What is the total non-controlling interest in net income of subsidiary (NCINI5) on Dec 31, 20x5?

A: As per our protocol, we provide the solution to the one question only but as you have asked two mult...

Q: Instructions Chart of Accounts Journal The estimated amount of depreciation on CHART OF ACCOUNTS Jou...

A: >Adjusting entries are recorded, as part of completion of accounting cycle. >These are mad...

Q: Journalize the inception of the lease and the first payment made by PMA in the books of GP (Lessee) ...

A: Lease liability refers to obligation of the company requires to pay periodic lease payment on the le...

Q: The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively....

A: Please see Step 2 for the solution as required.

Q: The total bond interest expense that should be reported by the company for the year 2020.

A: Toledo Inc. has issued bonds of P 80,00,000 on 01.01.2016. The bonds are for a tenure of 25 years wi...

Q: A PP&E asset with an acquisiton cost of $300,000 and accumulated depreciation of $285,000 is sold fo...

A: Gain/(loss) on disposal of fixed asset = Disposal proceeds - (Acquisition cost - Accumulated depreci...

Q: The Atlantic Medical Clinic can purchase a new computer system that will save $6,000 annually in bil...

A: In order to compute the maximum amount that Atlantic Medical Clinic should pay, the annual savings a...

Q: tequired A. Explain the difference between tax reliefs and tax credits

A: (a) In this question,I have explained the difference between tax credit and tax relief    

Q: s in the form of money orders. Assuming en the company books and the bank bala d the company report ...

A: Cash Balance in the balance sheet will include cash , cash at bank and investments that can be readi...

Q: 0.15 0.05 001 -0.03 -0.01 0.09 the expected returns of the two stocks? the standard deviations of th...

A: The term expected return of stock refers to the profit or loss amount which investor anticipates on ...

Q: Is it possible to fully eliminate non-value added activities? If yes, how? If no, why?

A: Value can simply be defined as something which the customer is willing to pay or receive. Non Value ...

Q: be used to fund the equity portion of the capital budget? Assuming the company has 400,000 issued or...

A: Net income = P12,000,000 Capital budget = P 10,000,000 Equity percentage = 70%

Q: A company has return on sales of 20%, income of $50,000, selling price of $10, and a contribution ma...

A: Solution..   Return on sales = 20%  Net income = $50,000 Selling price = $10  Contribution margin = ...

Q: Which of the following statements is incorrect? O If the current ratio is too high the company may n...

A:

Q: On Jan. 1, 2020, EC Company reported a note payable of P 1,200,000. The note is dated Oct. 1, 2019, ...

A: Given that,  Notes payable as on Jan 1 2020 = P1200000  Rate of interest = 12%

Q: On January 2, 20x1, Paul Corp. acquired 20% ownership interest in Simon Corp. for P1,350,000 and the...

A: Goodwill in Consolidation In the consolidation process the calculation of goodwill is the total cons...

Q: Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains...

A: Variable overhead rate variance = (standard rate per hour- actual rate per hour)*actual hours Variab...

Q: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable m...

A: Predetermined overhead rate = Estimated total overhead / Estimated machine hours = (2500*$1.50 + 150...

Q: All That Blooms provides environmentally friendly lawn services for homeowners. Its operating costs ...

A: Break even point in units = Fixed cost/contribution margin per unit

Q: 3. The current assets of Mayon Enterprise consists of cash, accounts receivable, and inventory. The ...

A: Cost of goods sold is the amount of cost for the goods which are sold. It shows the cost for making ...

Q: The balance of Allowance for Doubtful Accounts before adjustment at the end of the period is P 400 ...

A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period. 

Q: can you help me with D,E,F,G,and H

A: AIS termed as Accounting information system which refers to the structure that companies report, col...

Q: Financial Statements from the End-of-Period Spreadsheet Bamboo Consulting is a consulting firm owned...

A: The financial statements are prepared in order to show the operating performance of the business and...

Q: 2022 Sales revenue $500,000 Cost of goods sold Gross profit Operating expenses 400,000 ? Wages expen...

A: Formula: Gross profit = sales revenue - cost of goods sold

Q: Kevin Inc. issues P 10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid...

A: given that : Kevin Inc. issues P 10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. The...

Q: Micro Tek Inc. is considering an investment in new equipment that will be used to manufacture a smar...

A: Average rate of return = Average annual income / Average investment Where  Average investment = (cos...

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.