SI is $51,00 $125,300 00
Q: You must prepare a classified balance sheet.
A: A balance sheet is a representation of an individual's personal or corporation's financial balances…
Q: Electricity purchased to operate factory machinery would be included as part of the cost of products…
A: Cost of products manufactured is the amount of cost incurred on the production or manufacture of the…
Q: The cost and estimated useful life of accounts under Property, Plant and Equipment of FDNACCT Co.…
A: Introduction: Property, plant, and equipment: Property, plant, and equipment is the balance sheet's…
Q: onsider the case of Marston Manufacturing Company: Marston Manufacturing Company is considering a…
A: calculation of above requirement are as follows
Q: Timothy (40) and Tina (42) are California residents. Todd (age 10) and Ted (age 7) are their two…
A: Tax Break for Children: As per 2020 Child Tax Credit, an individual can get a tax credit of $2,000…
Q: Duval Company issues four-year bonds with a $111,000 par value on January 1, 2021, at a price of…
A: Bonds are an obligation on the entity. These are a source of raising fund for which the entity has…
Q: For years one through five, a proposed expenditure of £350,000 on a non- current asset with an…
A: Answer:- Payback period meaning:- The payback period can be defined as the amount of time which is…
Q: The statement of cash flows explains the difference between the beginning and ending balances of…
A: Introduction: The net amount of cash received and disbursed by an entity over a given period of time…
Q: From the above, compute (a) the Current Ratio, (b) Quick Ratio, (c) Debt-Equity Ratio,
A: Introduction: - Ratio analysis used to analysis business performance. It gives idea of company…
Q: The following interest income are earned by May during the year: a. Interest income earned from bank…
A: 1. her income subject to final tax = 80,000 + 75,000 + 40,000 = 1,95,000 ( C)
Q: The following transactions affect the Statement of Changes in Equity except:
A: A statement of changes in the equity is the statement which shows and reflects all the items by…
Q: on for the Mariano Lerin Bookstore for March 2015 fo chase merchandise on credit from Digao…
A: Journal entries are those entries that include the daily transactions or events and are stated in…
Q: The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall…
A: Ratio analysis is a quantitative method of gaining insights into a co's liquidity, operational…
Q: E9.22 (LO 2) Caan Corporation produces industrial robots for high-precision manufacturing. The…
A: Cost per unit is the amount of cost incurred on the making or selling of a unit of product. If the…
Q: During December, the production department of a process operations system completed and transferred…
A: Direct material cost per equivalent unit can be calculated by dividing the total cost of material by…
Q: A company is planning to purchase a machine that will cost $42,000 with a six-year life and no…
A: Payback Period The acceptability of a project is determined by a variety of factors, one of which is…
Q: On June 1, 2022, FDN Company sold merchandise to ABC Trading worth P40,000 with credit term of 2/10,…
A: The 2/10 n/30 is a term that is used by the company to calculate the amount of the discount under…
Q: related to making this part are $89,000 per year, and allocated fixed costs are $76,000 per year.…
A: calculation of above requirement are as follows
Q: Milo Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the…
A: Balance of allowance for uncollectible accounts after adjustments = $4,400 Less: wrote off old…
Q: Based on the information above, discuss the ways in which fraud/ theft could be perpetrated at…
A: A fraud could be made by the employees of the company whenever there is a loophole in the system in…
Q: Ferrero Rocher Inc.’s only temporary difference at the beginning and end of 2020 is caused by a…
A: In the context of the given question, we are required to compute the deferred tax liability on…
Q: Assume that the marginal revenue product schedules of accountants and instructors are similar. Which…
A: Revenue Marginal Product (MRP) The MRP assumes that all other expenses remain constant and assists…
Q: Required information [The following information applies to the questions displayed below.] A company…
A: calculation of internal rate of return are as follows.
Q: The amount of cash received by Faura is
A: Consignment refers to an agreement between two parties in which the goods or merchandise are…
Q: aco Ranch uses a process cost system and the FIFC ost flow assumption. Production begins in the…
A: Process costing is an accounting system in which each process has a seperate account and on the…
Q: What are the differences between a product cost and a period cost
A: In accounting we say that costs are often product costs or period costs. The difference between the…
Q: Cobe Company has already manufactured 18,000 units of Product A at a cost of $15 per unit. The…
A: The main objective of every business enterprises is to earn profit by satisfying the customers…
Q: company reported the following data for its past 2 years of operation: Year 1 18% Return on…
A: Return on investment for year 2 = 20%Required return for year 2 = 10%Residual income =…
Q: refundable VAT - During the July factory shut-down: - overhead costs of R50 000 were incurred; and -…
A: Legal fees: Legal fees are the fees charged for the process of the purchase of rights of the patents…
Q: estion 11 Find the monthly house payment necessary to amortize the following loan. In order to…
A: Time value of money is the concept that is widely used by individuals and companies to determine the…
Q: 1 Using the simple interest formula, determine the number of days until $2269.00 will earn $26.54…
A: Simple interest is a method to calculate the amount of interest charged on a sum at a given rate and…
Q: Crane Company reported net income of $148,500. For 2020, depreciation was $45,100, and the company…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: True or False Merchandise inventory is reported in the long-term assets section of the statement of…
A: Long-term assets: Long-term assets are those assets called noncurrent…
Q: True or False Transactions are recorded in either a journal or a ledger, but not in both.
A: Introduction:- An accounting cycle is a process of recording, identifying, and analyzing accounting…
Q: A merchandiser that provided the following information: Number of units sold 20,000 Selling price…
A: Contribution margin can be found out by subtracting the total sales made with cost of goods sold and…
Q: have Let's assume you took out a $300,000, 30-year mortgage with an annual you interest rate of 8%…
A: calculation of above requirement are as follows
Q: Select the necessary words from the list of possibilities to complete the following statements. 1.…
A: Auditing is the verification of financial statements and based upon which the auditor provides the…
Q: A manufacturer offers a 30/25 chain discount if the invoice subtotal is above $1,000. If the list…
A: calculation of chain discount are as follows
Q: Honesty Corporation’s shipments to and from its Quezon City branch are billed at 125% of cost. On…
A: Adjusted branch net income is an income actually earned by the branch. It is calculated after…
Q: Xinhong Company is considering replacing one of its manufacturing machines. The machine has a book…
A: Variable manufacturing cost is the amount of money spent on manufacturing the goods which may change…
Q: Ridgeway Ltd is a company that has manufactured steel shelving systems for sale to retail customers.…
A: The cash flow statement is a summary report of the cash inflows and outflows during the period. The…
Q: The Boxwood Company sells blankets for $33 each. The following was taken from the inventory records…
A: LIFO means last in first out It means that the latestly purchased inventory is sold first. In the…
Q: When an entry is made in the general journal, accounts to be increased should be listed first. O…
A: Introduction: General Journal: A general journal is a diary that contains all of a company's…
Q: State the journal entries necessary to record the assignment of direct materials, direct…
A: Process costing is a method used for the manufacturing industries that produce a single product and…
Q: 17. Which one of the following accounts would not appear on a post-closing trial balance? O A.…
A: The post-closing trial balance includes all the permanent accounts. The closing entries are used to…
Q: Janice hires Mariam to assist her with the general store duties. Mariam describes herself as an…
A: Introduction: Private Contractors frequently have no idea that they are not Workers as defined by…
Q: Ridgeway Ltd is a company that has manufactured steel shelving systems for sale to retail customers.…
A: Cash flow is the statement which shows the flow of cash in the company. Cash inflows are treated as…
Q: These following details were supplied by Eigen Manufacturing Corp. over the previous month: Sales…
A: A expenditure for the firm that varies according on how much is produced or sold is called a…
Q: accounting consept
A: Introduction Accounting Concept: Accounting concept refers to the fundamental assumptions,…
Q: A guitar manufacturer is considering eliminating its electric guitar division because its $76,000…
A: Introduction: Revenue is calculated by multiplying this same average sales price even by the number…
Step by step
Solved in 2 steps with 2 images
- Linda is an employee of JRH Corporation. Which of the following would be included in Lindas gross income? a. Premiums paid by JRH Corporation for a group term life insurance policy for 50,000 of coverage for Linda. b. 1,000 of tuition paid by JRH Corporation to State University for Lindas masters degree program. c. A 2,000 trip given to Linda by JRH Corporation for meeting sales goals. d. 1,200 paid by JRH Corporation for an annual parking pass for Linda.Addison Parker (Social Security number 123-45-6785), single and age 32, lives at 3218 Columbia Drive, Spokane, WA 99210. She is employed as regional sales manager by VITA Corporation, a manufacturer and distributor of vitamins and food supplements. Addison is paid an annual salary of 83,000 and a separate travel allowance of 28,000. In order to access the travel allowance, VITA requires adequate accounting by Addison. Addison participates in VITAs contributor) health and 401(k) plans. During 2019, she paid 4,500 for her share of the medical insurance and contributed 11,000 to the 401(k) retirement plan. Addison uses her automobile 70% for business and 30% for personal. The automobile, a Toyota Avalon, was purchased new on June 30, 2017, for 37,000 (no trade-in was involved). Depreciation has been claimed using the MACRS 200% declining-balance method, and no 179 election was made in the year of purchase. (For depreciation information, see the IRS Instructions for Form 4562, Part V.) During 2019, Addison drove 15,000 miles and incurred and paid the following expenses relating to the automobile: Because VITA does not have an office in Spokane, the company expects Addison to maintain one in her home. Out of 1.500 square feet of living space in her apartment, Addison has set aside 300 square feet as an office. Expenses for 2019 relating to the office are listed below. Addisons employment-related expenses (except for the trip to Korea) for 2019 are summarized below. Most of Addisons business trips involve visits to retail outlets in her region. Store managers and their key employees, as well as some suppliers, were the parties entertained. The business gifts were boxes of candy costing 30 (25 each plus 5 for wrapping and shipping) sent to 18 store managers at Christmas. The continuing education was a noncredit course dealing with improving management skills that Addison took online. In July 2019, Addison traveled to Korea to investigate a new process that is being developed to convert fish parts to a solid consumable tablet form. She spent one week checking out the process and then took a one-week vacation tour of the country. The round-trip airfare was 3,600, and her expenses relating to business were 2,100 for lodging (300 each night), 1,470 for meals, and 350 for transportation. Upon returning to the United States, Addison sent her findings about the process to her employer. VITA was so pleased with her report that it gave her an employee achievement award of 10,000. The award was sent to Addison in January 2020. Besides the items already mentioned, Addison had the following receipts in 2019: Regarding the city lot (located in Vancouver), Addison purchased the property in 2004 for 16,000 and held it as an investment. Unfortunately, the neighborhood where the lot was located deteriorated, and property values declined. In 2019, Addison decided to cut her losses and sold the property for 13,000. The sailboat was used for pleasure and was purchased in 2015 for 16,500. Addison sold the boat because she purchased a new and larger model (see below). While at the Spokane airport, Addison found an unmarked envelope containing 55,000 in 50 bills. Because no mention of any lost funds was noted in the media, Addison kept the money. Addisons expenditures for 2019 (not previously noted) are summarized below. Addison keeps careful records regarding sales taxes. In 2019, the sales tax total was unusually high due to the purchase of a new sailboat. In 2019, Addison decided to pay her church pledge for both 2019 and 2020. The insurance premium was on a policy covering her fathers life. (Addison is the designated beneficiary under the policy.) Addisons employer withheld 8,600 for Federal income tax purposes, and she applied her 800 overpayment for 2018 toward the 2019 tax liability. Compute Addisons Federal income tax payable (or refund) for 2019. In making the calculation, use the Fax Rate Schedule and disregard the application of the alternative minimum tax (AMI), which is not discussed until Chapter 12.Joan, a single mother, has AGI of $61,500 in 2019. In September 2019 , she pays $5,000 in qualified tuition for her dependent son who just started at Big University. What is Joan's American Opportunity credit for 2019? $0 $1,250 $2,125 $2,500 Some other amount