The fundamental characteristic of the corporateform of business organization that gives rise to the need for governance mechanism is: A.the seperation of ownership and control B.mutual agency C.the abuses by professional managers D.the lack of

Q: 15 17 18 24 25 31 ansactions. Returned defective merchandise to Puregold amounting to $4,500. Paid…

A: Journal entries are the recording of each and every transaction taking place in the books of…

Q: Calculate the cost of goods available for sale. Calculate (a) ending inventory and ( b) Cost of…

A: FIFO METHOD:— In this Method, Firstly First input is used for sales or output. It stands for 'first…

Q: This could be due to

A: Operating profit is the profits made from the operating of the business. The non-operating expenses…

Q: 37. When an entity reduces its interest in an investment in equity securities accounted for by the…

A: Introduction: If an investor company invests and acquires between 20 to 50% stake in the investee…

Q: Howat Corporation earned $360,000 during a period when it had an average of 100,000 shares of common…

A: Net income of the corporation=$360,000 Number of common shares outstanding=100,000 Number of…

Q: What is an enterprise system?

A: Introduction:- An enterprise system, also known as an enterprise resource planning. It handles…

Q: Identify the major payroll tax forms and describe the purpose of each.

A: Payroll tax refers to the percentage which is withheld from the pay or salaries of the employee…

Q: Business On October 1st, a borrowed $25,000 from a bank. The loan has a period of 120 days and an…

A: Interest expense is the monetary obligation of the borrower to pay regularly towards the sum…

Q: Please answer this question Required - prepare trading account and profits and loss account

A: Financial statements are statement which are prepared at the end of the period. Trading and profit…

Q: 1. Anton wants to have a portion of ownership of a certain company. Which of the following should he…

A: Hi student Since there are multiple questions, we will answer only first question.  There are…

Q: On January 1, 2010, Kerr Company leased a machine to Wee Company for six years requiring payments of…

A: At the commencement of the lease, the amount to be recognized will be the lower of, the fair value…

Q: On December 31, 2019. Cullumber Corporation had 141.600 common shares outstanding On April 30, 2020,…

A: Profitability of an entity can be calculated by earnings per share where it shows earnings of the…

Q: Camia Company is in the business of leasing new sophisticated equipment.  As lessor, Camia expects a…

A: Formula for total finance income Total Financial income=Gross income-cost of the Equipment

Q: Use the following information for questions 7 to 8: Sarah Company started construction of its…

A: Lets undestand the basics. As per IAS23 "Borrowing cost", borrowing cost incurred for construction…

Q: why do businesses produce financial statements?

A: INTRODUCTION: Financial statements are detailed documents produced by the management of a company to…

Q: Pioneer College, a private educational institution, has presented the following data for the year:…

A: Here discuss about the income tax payable for education institution which are treated as corporate…

Q: Compute the amount of improperly accumulated earnings tax (IAET).

A: The question belongs to the calculation of taxes of a closely-held corporation. The rate of income…

Q: Required information The following information applies to the questions displayed below.] Aspen Ski…

A: Tax Deduction: It is levied on the income of the individual or organisation by the Government at…

Q: Zedus furnitures issued a 10 year P1,910,000 FV, 6% bonds at par. Each of the P1,000 bond…

A: Diluted earnings per share used to assess profitability of an company after taking in to…

Q: Barry and Mary know that pension sharing can result in tax savings. Both are 65 years old and have…

A: Quebec Pension Plan (QPP) This was the retirement pension plan which was beneficial to the employees…

Q: Give three examples of non-financial information that could be useful for the managers of Sydney…

A: In recent years, corporate interest in quasi data and intangibles has grown. Non-financial…

Q: Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and…

A: FIFO METHOD:— It stands For First in First Out. In this Method Firstly Beginning Inventory is used…

Q: Boys with their decisions by answering the following questions: (Leave no answer blank. Enter zero…

A: Marginal Tax Bracket - Marginal tax brackets reflect the tax brackets that will apply to an…

Q: Question: A Company purchases a machine at the beginning of the year at a cost of $66,000. The…

A: As per the given information: Cost of machinery purchased - $66,000 Useful life of the machine - 4…

Q: Management of Mittel Rhein AG of Köln, Germany, would like to reduce the amount of time between when…

A: Answer. As the management like to reduce the time between the customer places an order and when the…

Q: You habe a business where you babysit for people in your local area.Some of your customers pay you…

A: Introduction: Under accrual method of accounting, all items of income and expenses are recorded in…

Q: What does it indicate when there are outstanding units of stock

A: Share of a Stock are outstanding implies that the specified number of share of the stock have been…

Q: Stonewall Corporation issued $70,000 of 5%, 10-year convertible bonds. Each $1,000 bond is…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Shoes Wisely, Inc. allocates overhead using machine hours as the allocation base.  The following…

A: Predetermined overhead rates are used to calculate the applied overhead on the basis of actual…

Q: Calculate the incremental savings (or loss) per pound if the company outsources the product. If the…

A: In the given question, we have to take decision whether to internally produce the product or…

Q: Question 17: Why sort table data? Answer: A. B. C. D. O You want to display only the table rows that…

A: Sorting means to arrange data in ascending or descending order. It can also be used to arrange data…

Q: Ebony Company has the following expected pattern of collections on credit sales: 70 percent…

A: Collection of sales is as follows: 70% of sales in the month of sales 15% in the first  month after…

Q: Oriental Corporation has gathered the following data on a proposed investment project:…

A: Payback period is 6.83 years Step-by-step explanation  Investment in depreciable equipment =…

Q: Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They…

A: Partnership is an agreement between two or more partners for forming a business and sharing the…

Q: Question 4. A Company purchases a machine at the beginning of the year at a cost of $78,000. The…

A: INTRODUCTION: One of the most often used techniques of depreciation is the straight-line…

Q: o our authors, define “gross profit" and provide an example.

A: Gross Profit is the margin that a business wanted to earn on selling the goods or service, its…

Q: QUESTION 36 Pasta Disasta, Inc. is preparing its master budget for its first quarter of business. It…

A: Total cash payment for Inventory shall be calculated on the basis 70% of  total payable shall be…

Q: Prepare the journal entries to record the following transactions on Wildhorse Co.’s books using a…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: QUESTION 1 Dee and Co. Limited makes and sells a particular product. At the moment, the company…

A: Inventory valuation can be recorded in the books of accounts by two methods i.e variable costing…

Q: not easily traceable and are allocated to a cost object u not abbreviate or add any extra spacing in…

A: Direct costs refer to those expenses which can be directly related to a product or a service.

Q: 7. Y Corporation, a family-closed corporation, had the following selected data for 201A, the…

A: An accumulated profits tax is a federal govt tax applied on enterprises with unjustifiable retained…

Q: acob Mills has provided you with the following information:     2019 2020 2021 Taxable capital…

A: Capital Gains : When the organisation or individual sold its capital assets at profit, then that…

Q: Flaherty Company had beginning inventory on May 1 of $12,000. During the month, the company made…

A: Cost of goods available for sale can be calculated by following formula: Beginning inventory + Net…

Q: agement estimated that 2.75% of its net sales of $18,000 would not be collected.

A: A bad debt expense is recognised when a receivable is no longer collectible as a result of a…

Q: Show how each of these costs will behave as the volume of activity decreases.…

A: The volume of activity directly impacts the variable cost because the variable cost changes directly…

Q: A closely-held corporation, deemed committed unreasonably accumulating its income, shows the…

A: Improperly accumulated earnings tax (IAET) refers to penalty tax imposed on corporate taxpayers in…

Q: Chicken Wings Company purchased a copier for P447,150 on January 1, 2021. The estimated useful life…

A: Since the change in useful life is a change in accounting estimate the effect will be given…

Q: On January 1, 2010, Gallant Company entered into a lease agreement with Blacksheep Company for a…

A: Calculation of Present Value of minimum lease payments: Payment Date Year Lease Payment Discount…

Q: The accounting records for 2022 of Natural Co. showed the following: Increase in raw materials…

A: Cost of Goods Sold=Cost of goods manufactured+Decrease in finished goods inventory

Q: Sales Interest Other Qtr1 Total Qtr2 Investment Income 18475 14900 Qtr3 Qtr4 35000 125000 52000…

A: In income statement we need to put all revenue first then deduct expenses , form that we will get…