The auditor asked for the general information sheet of the company. Which of the following assertion is relevant when testing the valuation assertion? Group of answer choices The number of shares issued and outstanding The par value of each class of shares Date of incorporation Listing of top 20 shareholders

Q: Manually journalize the following: a. Bank transfer from any bank to 1612CN amounting P30,000 b.…

A: Journal entries represent the activity of identifying and recording day-to-day business-related…

Q: Problem: The company purchased office supplies on September 01, 2020 amounting to P30,000. On…

A: Under expense method, the amount spent is booked as expense. Any unused supplies is transferred to…

Q: decrease in the costs of using an ATM causes money demand to increase. Shifting the Money demand…

A: banks are the organization that help in the transactions by the customer and it has decrease the…

Q: 2.1 REQUIRED Use the information provided below to prepare the performance report for Lonmin…

A: The performance report is prepared to compare the actual results, flexible results and master…

Q: Question One - Joumalize the following monthly adjusting entries: Purchased equipment for $20,000,…

A: Annual Depreciation expense = Cost - Salvage Value / Useful life in years =($20,000-$2,000)/5 years…

Q: Relyx Manufacturing produces concrete garden border sections. At the beginning of the process, all…

A: Answer to (c)  statement showing cost per unit for each equivalent component using FIFO method:…

Q: hich of the following transactions would most likely affect shareholders’ equity? Group of answer…

A: The shareholders' equity is recorded in the statement of financial position of the business i.e.…

Q: 1 The owner, Mrs. Clean, invested the following: building 1,150,000 cash 120,000 Purchased washing…

A: Income statement shows the amount remaining (Net Income) after taking into consideration all the…

Q: An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the…

A: Amount  (In $)  Direct Materials   Beginning Raw Materials Inventory…

Q: Based on your computations, will you advise Alyssa to put up a partnership and borrow cash for the…

A: Making decisions regarding particular options depends upon the advantage or disadvantage upon…

Q: Nevada Company provided services with a list price of $48,500 to Small Enterprises with terms 2/15,…

A: Formula: Net cash received = List price - discount where, Discount = List price x discount rate

Q: The following data were extracted from the stockholders’ equity of ABC Company:     12/31/2017…

A: The retained earnings are the accumulated profits of the business till date. The dividend to the…

Q: rts. Relevant revenues: None. Sunk costs: S4,000 for software. Opportunity costs: $4,000. rts.…

A: Relevant cost are those cost that would impact decision  making and would be affected by it Sunk…

Q: Hellen and Shana run their own business. Every Friday they take two gas grills and grill burgers in…

A: Average cost per unit is the cost allocated to each unit of productions which has been incurred to…

Q: Shelton Tax Services is considering investing in new software for their corporate tax business. The…

A: A method for assessing whether to invest in a financial instrument is net present value. It is…

Q: Consider each of the independent transactions below: a) The University of Belize traded an older…

A: In the case of an exchange of assets for obtaining a new asset, the gain or loss from the exchange…

Q: Bryant leased a land to Jose for a period of 11 years starting January 1, 2012 at an annual rental…

A: You have posted a multiple-part question, so as per our policy only the first three inter-linked…

Q: Directions: Prepare a schedule of cost of goods sold for the three-month period and a statement of…

A: Note: It is assumed that Purchase Returns and Allowances is 4,900 not 4,9000 The process of…

Q: Find the salvage value of an asset which has FC of P150 000 and economic life of 7 years. Using the…

A: Sum of years digits of useful life = 1 + 2 + 3 + 4 + 5 + 6 + 7 = 28   Remaining useful life on 5th…

Q: bununo hank you in advance ! ABC Company purchased 50 Meissner AG 8%, 10-year, €1,000 bonds on…

A: Concept on Investment, Investment according to equity method Investment in Bond a debt instrument…

Q: ABC Company prepares quarterly calendar interim financial reports. Entity sells goods and normally…

A: The calculation of warranty expense for the fourth quarter interim financial statements is shown…

Q: The equipment has a purchased price of P530 000 and expected to have 13% ann depreciation rate.…

A: Introduction:- Depreciation is a non cash expenditure. Which id charged on fixed assets over a…

Q: Ghaz Company produces two types of sound units: Deluxe and Regular. follows: eIvity data Is as…

A: In this question, we have to calculate consumption ratio, pool rate and unit product costs based on…

Q: Individuals Julie and Brandon form JB Corporation. Julie transfers cash of $425,000 in exchange for…

A: The basis in the stock represents the cost of the investor to acquire the stock. The determination…

Q: Initial deposit made was P10k but succeeding 5 deposit amount decline by P1k, if interest is 12%,…

A: It is assumed that initial deposit of P 10,000 is made today. Therefore, next 5 deposits will be…

Q: A corporation has taxable income from operations of $1 million. In addition, it received $100,000 of…

A: Introduction: Income might take the form of cash, real estate, or services. Unless specifically…

Q: Which of the following elements are used in calculating Costs in a Flexible Budget?   a. Budgeted…

A: The flexible budget performance report is prepared to compare the actual data with flexible Budget…

Q: igned two alternative methods for accomplishing a production job. Both methods involve the…

A: The answer has been mentioned below.

Q: The Ammad Company manufactures a product in a single process. The following information is…

A: Equivalent unit for conversion cost = (Units completed and transferred x 100%) + (Ending WIP x 100%)…

Q: A corporation purchased 1,000 shares of its own $5 par common stock at $10 and subsequently sold 500…

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

Q: In March, Carla Vista Manufacturing had the following unit production costs: materials $11 and…

A: Process costing is used in that organization, where a similar kind of product is produced and goods…

Q: 9. Company O has outstanding accounts receivables of $1,650,000 at year-end. During the year,…

A: Allowance for bad debts is made to estimate and write off the account receivable. It is made to…

Q: . A British company knows it will have to pay 6 million euros in six months to buy some iron. The…

A: A forward contract is a customized contract between two parties to buy or sell an asset at a…

Q: The ember 31, 2021.

A: Depreciation will be accumulated in that a/c until asset is sold, and later while on selling cost of…

Q: Assume a company is considering buying 10,000 units of a component part rather than making them. A…

A: Financial advantage (disadvantage) of buying from the suppliers = Total relevant costs - Total…

Q: Example one The information below has been extracted from the recently published accounts of Gabby…

A: It is the analysis of a company's performance under different dimensions such as profitability,…

Q: What are the Components of Equity Financing

A: The method of raising capital by selling stock is referred to as equity financing. Companies raise…

Q: If you borrowed P 10, 000.00 from a bank with 18% interest per annum, what is the total amount to be…

A: The amount to be paid at the end of 1 year will be the amount borrowed and interest on amount…

Q: Determine the following: 1. Record the adjusting entry for the year December 31, 2020 under the…

A: Adjusting entries are those journal entries which are passed at the end of the period for the…

Q: Will Inc. accounts for inventory using the dollar-value LIFO method. The following information is…

A: Ending inventory refers to the value of stock lying with the entity at the end of the reporting…

Q: rms 1/10, n/30, FOB destination. The items arrived at Beetle's warehouse or the purchase on May 7.…

A: Free on board" refers to who is responsible for things that are damaged or destroyed during…

Q: Kim recelved a one third profits and capital interest in Bright Line. LLC, n echange for legal…

A: Introduction: A partnership is a type of business in which two or more persons enter into a legal…

Q: Please Show all work step by step calculations! thank you! I know where answers for first and second…

A: In sequential allocation of costs, the costs of service departments are to allocated to operational…

Q: 1. What amount should be reported hyperinflationary statement of financial position? as total assets…

A: Illustration                                      June 2013       July 2016                   Dec.…

Q: What types of dividend provide tax saving most? 1- cash dividend 2- Share dividend 3- Orher…

A: A dividend is a portion of a company's value distributed by the board of directors. Dividends are…

Q: customer misses his flight due to the one hour wait in the check-in line. They are a

A: When there is case of error there is need to be rectify this error and provide the alternative…

Q: Assume that a company has developed a new industrial component called Part A that offers superior…

A: Given information, Competing part sells for =$1,500 Replaced after =1,500 hours of use Preventive…

Q: What information is made available about the business in the following financial statements: a.…

A: A compilation of summaries of a company's monetary results, financial position, and cash flows is…

Q: Problem 13.3A (Static) Preparing classified financial statements. LO 13-1, 13-2, 13-3 The Enoteca…

A: Financial statements are the reportable summaries which includes the components like revenues and…

Q: ABC Company declared on December 1, 2021 its 10 brand new fleet of cars costing P500,000 each as…

A: