t is possible to calculate shrinkage Multiple Choice   a)in Periodic Inventory Accounting but not in Perpetual Inventory Accounting   b)in both Periodic Inventory Accounting and in Perpetual Inventory Accounting   c)in Perpetual Inventory Accounting but not in Periodic Inventory Accounting   d)in neither Periodic Inventory Accounting nor Perpetual Inventory Accounting

Q: B System T System Equipment first cost, $ AOC, $ per year -1,500,000 -2,250,000 -700,000 -600,000 Sa...

A: Cash flow Table   Projects PL PS First Cost (C) -1,500,000 -2,250,000 AOC (MO) per year -700,...

Q: In a process costing system, which account shows the overhead assigned to the department?A. cost of ...

A: Process costing appears to be an accounting approach often used by organizations that mass produce b...

Q: Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 60,000 games las...

A: Lets understand the basics. Contribution margin income statement is prepared by the management to ca...

Q: A musical group plans to sell T-shirts bearing their logo at an upcoming concert. They find a suppli...

A: Formula: Logo charges = ( Number of T shirts ordered x Per T shirt charge ) + Set up charge

Q: Morganton Company makes one product and it provided the following information to help prepare the ma...

A: Answer) Calculation of Budgeted Direct Labor Cost for July Units Budgeted to be sold in July  ...

Q: how to reduce outstanding receivable amount? give 6 ways to on how it can be reduced.

A: To reduce the outstanding receivable amount is state the payment terms clearly on invoices Businesse...

Q: Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning ...

A: Average Accounts receivable = (Beginning Accounts receivable + Ending Accounts receivable) / 2 = ($5...

Q: Statement 1: Cost of inventories or supplies are deducted from gross income when purchased or acquir...

A: Inventories form a part of assets of the entity and represent the stock of raw material, work in pro...

Q: Company P purchases a 100%o interest in Company S for $800,000. If Company

A:                                       APIC is Additional Paid In Capital is the amount paid by the i...

Q: Sage Industries and Pronghorn Inc. enter into an agreement that requires Pronghorn Inc. to build thr...

A: The following are journal entries between Sage Industries and Pronghorn Industries, who agreed to wo...

Q: M, N, and 0 formed a partnership on January 1, 200A with 3.7 investments of P 40,000, P 24,000 and P...

A: Net profit before interest, salary & bonus 29400 Less: partner’s salary  (16800) Less: inter...

Q: Borlales C any provided the following transactions relating to its raw materials inventory during th...

A: FIFO Method: FIFO Method is one of the technique of inventory evaluation which follows the principle...

Q: You are a small employer, and are considering adding a retirement plan for you and your employees, w...

A: I would recommend SEP-IRA plans (Simplified Employee Pension) and SIMPLE IRA plans.

Q: Paragon Properties built a shopping center at a cost of $50M in year 2010. The company started leasi...

A: The Modified Accelerated Cost Recovery System is the current tax depreciation system in the United S...

Q: Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory sy...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: Frontier Corp. sells units for $45, has unit variable costs of $19, and fixed costs of $177,000. Fro...

A: Contribution margin = Total sales - Total variable cost Profit = Contribution margin - Fixed costs

Q: ransactions for 2021 were as follows: An new elevator system costing P800,000 was installed o...

A:

Q: For the coming year, Cleves Company anticipates a unit selling price of $80, a unit variable cost of...

A: Formula: Break even sales units = Fixed cost / unit Contribution margin

Q: Depreciation for Partial Penods Chambers Delivery Company purchased a new delivery truck for $62,500...

A:

Q: 45. A truck initially cost P60,000. Its resale value at the end of the 5th year of the useful life i...

A: Double declining depreciation rate = 2 * depreciation rate Depreciation rate = 1 / useful life  

Q: At the beginning of the year, Custom Manufacturing set its predetermined overhead rate using the fol...

A: >Predetermined overhead rate is the overhead allocation rate, used to 'apply' or 'allocate' the o...

Q: John Corporation's bank statement for April 30 showed an ending cash balance of $1,350. The company'...

A: Bank reconciliation statement is the one which is prepared to reconcile the differences between the ...

Q: Richelle Company adapted the following changes during 2022: • Appropriately changed to the FIFO cost...

A: The given changes are required to adjust retained earnings opening balance. These changes in estimat...

Q: The Cash account of Silver Maple Art Gallery shows the following at April 30, 2014 Cash Date Item Jr...

A: 1) Silver Maple Art Gallery’s bank reconciliation as on April 30, 2014 :- Particulars  Amount Par...

Q: A Sales cut-off procedure for the audit of the financial statements of Carrie Corp. resulted to the ...

A:

Q: What effect does a weakening in U.S dollar have on Net Income for subsidiaries of U.S companies?

A: whenever there is reduction in the dollar then it reduces the purchasing power internationally and e...

Q: Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: Dear...

A: Earnings per share = earnings afte tax/ number of shares outstanding         2020 ($in million  2...

Q: Prepare a statement of income for April 2016

A: Statement of income is one of the financial statement which shows all incomes and all expenses of th...

Q: Abercrombie Company uses four special journals: Purchases, Sales, Cash Receipts, and Cash Disburseme...

A:

Q: Required: Record the following transactions of Fashion Park in a general journal, Fashion Park must ...

A: Answer -    Working Note - 1. Sold merchandise for cash $2540 plus sales tax. Sales revenue = $2540 ...

Q: Requirement: 1. Compute the Economic Order Quantity. 2. Prepare the table which the entity can procu...

A: EOQ : Economic Order Quantity is one of the popular methods of Inventory Management. At this level o...

Q: 2013 income statement, what amount should Cordelli report as income tax expense?

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

Q: When a destroyed business asset is replaced, which of the following is true?

A:                              When the asset of business is destroyed then the destroyed assets's car...

Q: A budget: A.is used to determine if a product should be continued or discontinued B.complies actua...

A: The budget is prepared by the business organizations so as to know the expected revenue and expenses...

Q: s in the town. He is in 2nd year college and took up Bachelor of Science in Management. Even though ...

A: Credit refers to the capability of an individual to buy goods or services or to borrow a loan having...

Q: Prepare the journal entries that recorded the transactions during the year. (Credit account titles a...

A: Journal entries refers to the official book of a company which is used to record the day to day tran...

Q: Dos Enterprises has historically reported bad debt expense of 5% of sales in each quarter. The entit...

A: Bad debt expense for the fourth quarter = Bad debt expense for the entire year - Bad debt expense re...

Q: The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on De...

A:    Common Stock   Retained Earnings   Total Equity  Balance as on December 31, 2019  $            ...

Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...

A: Formula: Contribution margin = Sales - variable cost

Q: many

A: Given: X¯G = 1690 is the average electricity usage of Germany.X¯S =1780 is the Average electricity u...

Q: Problem 3 J.A.N., Inc. uses a job order cost system. On May 1, the company has a balance in Work in ...

A: Solution Manufacturing cost is the sum of the costs of all resources consumed in the process of maki...

Q: Monty Corp. reported net sales $610,000, cost of goods sold S366,000, operating expenses $151,000, a...

A: Formula: Gross profit rate = ( Gross profit / Net sales ) x 100

Q: acius Corporationis conducting a TDABC study in its Customer Service Department. The company has pro...

A: Cost of employee per week (39780*11)/50 = 8751.6 Practical capacity of total employees = 2400*11*85%...

Q: When refining a costing system, the desire to identify direct costs, is primarily drive by the fact ...

A: While refining a costing system the main purpose for direct costs is to identify and classify as dir...

Q: Other Operating Expenses Sales Revenue Cost of Goods Sold Gross Profit Net Income Firm $125,000 $ 60...

A:

Q: 8-year lease of a floor of building with useful life of 15 years Annual rental for the first three y...

A: A lease is a contract between two parties in which one party grants rights to the other to use the a...

Q: April 1 Purchased merchandise on credit from 0'Rourke Fabricators, Invoice 885, $1,600, terms 2/10, ...

A:   Purchase Journal       Date Invoice no.  Purchased from whom   Dr. Ac   Cr.  Ac  Apr-01 885  O...

Q: Pink Corporation's records included the following

A:  Authorized share capital:- It indicates the aggregate sum of capital that an organization can raise...

Q: 3.6 The partnership of Mac and Donald, being a commercial partnership, is subject to income tax of 3...

A: Partnership firm: Partnership firm is a form of entity where minimum of two individuals agreed to sh...

Q: Why would a company choose to use an inventory costing method that estimates the cost of the goods s...

A: In this question, we  explain that why would a company choose to use an inventory costing method tha...