The most equitable basis of distributing partnership profit by way of capital contributions is? A. beginning capital B. ending capital C. average capital D. equally

Q: Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively. Determine their ...

A: Beau Dawson and Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively. ...

Q: Victorious Company manufactures two types of Electronic Toy, the Regular and SuperPro. The following...

A: Calculation of Total manufacturing cost per unit     (Amount In P) Direct material Cost per uni...

Q: Lido Corp. has a commissary that supplies food and other products to its franchisees. It has two ser...

A: Answer) Direct Method: Under direct method, Service departments’ costs are allocated to Operating De...

Q: The processing of Salvation Company's manufacturing passes through two departments, Department 1 and...

A: Direct labor cost for Department 1 = Applied Factory overhead / 150% Applied Factory overhead for De...

Q: Problem 4-15 Qualified Business Income (QBI) Deduction (LO 4.10) Sanjay is a single taxpayer that op...

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...

Q: I have completed everything except for the unrestricted amounts. I can't seem to figure those out.  ...

A: Statement of Net Position: The statement of net position presents the monetary place of the administ...

Q: European International has 3 separate business units in the following countries. Data for each of th...

A: The answer is stated below:             Note: Answering the first question along first three subpart...

Q: Victorious Company manufactures two types of Electronic Toy, the Regular and SuperPro. The following...

A: Overhead cost per activity = Total overhead cost for the activity / No. of activity

Q: freight out/transportation out included in the calculation of cost of goods manufactured?

A: Solution Concept Freight out Freight out is the cost that is incurred in selling the goods . it is b...

Q: Which of the following is the best definition of product costs? a. Product costs are those costs tha...

A: Cost refers to amount or value which has to be incurred in order to purchase or produce a product ir...

Q: Assume that 50,000 units are put into production for Job 101 and the total cost of production was P1...

A: 1) cost of production per unit = Total cost of production  /  total no. of units input = PHP 1493000...

Q: . Novak Corporation is preparing its 2020 statement of cash flows, using the indirect method. Prese...

A: Solution The cash flow statement consists of three sections                 -cash flow from operatin...

Q: ABC Company granted 100 share options to each of its 200 employees on January 1,2019. The option pla...

A: Compensation Expense means all expenses and costs associated with compensation and benefits provided...

Q: Share options granted by a corporation are recorded as expense on the number of options that   a  ar...

A: Solution Note : dear student as per the Q&A guideline we are required to answer the first questi...

Q: At what amount will Fuzzy Monkey report its investment in the December 31, 2012, statement of financ...

A: Bonds are fixed income generating instruments which are majorly issued by the government or certain ...

Q: Byrd Inc., a calendar year-end company, purchased a machine on 1/1/X1 with the following attributes:...

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...

Q: What interest was earned if P500 500 is invested at 10 1/2% from October 20, 2019 to March 20, 2020?...

A: Solution: Amount invested = P500,500 Interest rate = 10.5% Period invested = Oct 20, 2019 to March 2...

Q: . Accounting Apparel completed 3,600 expensive bags during the 1st quarter of the current year.  The...

A: Answer) Calculation of Amount billed to customer Amount billed to customer = (Number of units produc...

Q: A binds himself to give P10,000 to B upon the death of the father of A. Is the obligation of A condi...

A: Obligation is a course of action taken by a person because of legal commitment. 

Q: Practice 2.9 - Record journal entries in the general journal for Catalina Corp. 8/1 8/2 8/3 8/4 8/5 ...

A: Journal entries :- A Journal entry records a business transaction in the accounting records of a bus...

Q: Foster & Kelly was founded with the mission of filling every home with music. The company repoited t...

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning in...

Q: b. Crilically cfiscuss the conporation's kverage pusiticn ancd profitatility perfonance for i: finan...

A: Leverage position refers to the ability of the company to pay off its debt I,e. the ability of the c...

Q: During the current year, Royal Industries sold treasury stock for $32,000 cash. The treasury stock w...

A: Introduction: Statement of cash flows: All cash in and out flows are shown in statement of cash flow...

Q: What are the elements of uncertainty for internal shareholders that remain or are introduced when us...

A: elements of uncertainty for internal shareholders  are discussed below

Q: What is the rate of interest if P40000 earned interest of P1200 in 140 days? (А) 2% (в) 7.82% c) 7.7...

A: Principal amount = P40000 Interest amount = P1200 Period = 140 days = 140/365 = 0.383561643835616

Q: The preclosing trial balance for the City of Hudson Golf Course Enterprise Fund is shown below. CITY...

A: Restricted net position represents by restricted assets less liabilities and deferred inflows of res...

Q: Relevant of differential cost analysis takes all variable and fixed costs into account to analyze de...

A: Differential cost analysis is the difference in cost for every alternative which helps in making the...

Q: profits on the ratio 3:2.  Partner’s Paru-paru Gee will receive a yearly bonus of 20% of the profits...

A: Share of partnership profit includes the amount paid to partners out of partnership profit on specif...

Q: If estimated production overhead in the printing department is $120,000 and actual overhead is $1i16...

A: Pre-determined overhead rate refers to calculation of overhead rate based on estimated cost and the ...

Q: Inventories Thor company included the following items in inventory: 1,960,000 280,000 Raw materials ...

A:     Raw Material 1,960,000 Advance for material ordered 0 Goods in Process 910,000 Unexpired...

Q: Grandparents deposited $6,000 into a grandchild’s account toward a college education. How much money...

A: Compound interest is the interest on a loan or deposit calculated based on the initial principal and...

Q: 8.Determine when each of the following must deposit its Form 941 tax liabilities. Quikstep, a month...

A: 1.Quikstep, a monthly depositor, pays employees on Friday. Its 941 tax liability for the April 17, 2...

Q: Sarasota Corporation had the following 2020 income statement. Sales revenue   $183,000 Cost of go...

A: The Statement of cash flow can be prepared under two methods. It is Direct Method and Indirect Metho...

Q: 9. William desires to purchase a one-fourth capital and profit and loss interest in the partnership ...

A: Solution Partnership consists two or more people combine their resources to form a business and agre...

Q: Darlene, Inc. manufactures item “B500” per the design and specification of its customers, and accord...

A: The cost incurred to rectify defective products is to be added to cost of product if it relates to s...

Q: 1,200 Depreciation, $700. b. Prepaid rent expires, $200 Interest expense accrued, $100. Employee sal...

A: Introduction: The amount earned by an individual or corporation after subtracting costs, allowances,...

Q: On January 1, there were two jobs in process at Fifo Company. Details of the jobs are: Job A-15: DM...

A: Cost of job completed in January will equal the total cost of Job A-15 and Job A-38

Q: Rancho Cucamonga Inc. established the following direct materials and direct labor standards for its ...

A: Formulae Used: Direct materials quantity variance=(Standard Price×Standard Quantity)-Standard Price×...

Q: Feal-Goode Inc. purchased a patent on a new drug. The patent cost $12,000. The patent has a life of ...

A: Amortization expense = Cost/ useful life Amortization expense = $12,000/20 Amortization expense = $6...

Q: BE5.2 (LO 1), AP The following are the components in Gates Company's income statement. Determine the...

A: Gross profit is an excess of revenue over the cost of goods sold and operating income is the remaini...

Q: Frontier Park was started on April 1 by C. J. Mendez. The following selected events and transactions...

A:   Journal entries means the book of prime entry including debit and credit item. Adjusting entry mea...

Q: At the beginning of 2019, Cookie Corporation had retained earnings of P 3,000,000. Throughout the ye...

A: Treasury stock: Shares which are bought back by the company from the open market but not retired fro...

Q: JUST Corporation provided the following information: 1) 9% 30million bonds outstanding with 100 par ...

A: Initial Cash outlay of replacing old bonds with new bonds, will be the cost of new bonds, increased ...

Q: Question: How much is the expected income or loss of the company on its 15t year of operations?

A: Mr x put his company next year and the details are provided to analysis the profit and loss 

Q: Bradford Company uses a job-order costing system and has two manufacturing  departments: Molding and...

A: Answer -  a) Plantwide predetermine overhead rate = (15000*4.5 + 29000*4.5 + 700000)/44000 = 20.41 p...

Q: Which of the following froms of new partner admission will nt result in a change in the partnership ...

A: Admission of New Partner If new partner are admitted into the business which can be opted for bring ...

Q: Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had ...

A: Solution Explanation- The deduction is amount determined with respect to any qualified Trade or busi...

Q: Mr. Wade was just promoted to Dean and will earn a yearly salary of $271,828.08 evenly distributed w...

A: Monthly Salary = Yearly Salary12 months Social Security Taxes = Monthly Salary x 6.2% (Employee's Co...

Q: Sales and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The fo...

A: Using perpetual inventory system, the cost of goods sold is to be record every time the sales are ma...

Q: Hi, can you help me to answer this with a detailed solution? Thank you!

A:                          In this problem before admitting Scrappy we will prepare Revaluation A/c to...