The substance of annual report are a) the management analysis b ) the charts and tables C ) the audited financial statements d ) grossly pictures and cover page

Q: Use the following information for the next five questions:On January 1, 2021, ABC Co. acquired all o...

A: Financial Accounting Financial accounting refers to the course of recording the financial events, su...

Q: Under the new Tax Cut and Jobs Act of 2017 rules for the computation of taxable income did not chang...

A: ANSWER     Tax Liability: Tax liability is the total amount of money that is liable to pay the tax b...

Q: On July 1, KAW Inc. purchased 75 cows which, at that time were 2.5 years old for a total cost of P1,...

A: Fair value of 3 years old cow  25000 * 75 cows = P1875000 Fair value of 0.5 year old cow 6900 * 15 =...

Q: Ryan Company's income statement for the year ended December 31, 2015, reported net income of P360,00...

A: The cash flow from operating activities include the cash flow from day to day or regular activities ...

Q: 2.1 Imagine you have been in business for a few months but you have not kept any proper records of y...

A: Journal entry is a process of recording and classifying business transactions into books of accounts...

Q: Which of the following is not added to net income as an adjustment to reconcile net income to cash f...

A: Cash flows from operating activities is one of the important section of cash flows statement which s...

Q: Question: 1. How many ordinary shares are available for subscription? 2. How many preference shares ...

A: Shares refers to the equity ownership within the company or of the financial assets that are owned t...

Q: Design a salary slip for the month of December 2021

A: Salary slip is the slip which is given to the employee in which it is clearly stated about how much ...

Q: You are provided with the following information for Ivanhoe Company, effective as of its April 30, 2...

A: The order of liquidity of Asset is: Cash Bank Marketable Securities Short term Investment Account R...

Q: Saved Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling ov...

A: Trade discount is that discount which is given on the list price of the product to all the customers...

Q: The two-column journal a.contains a debit and a credit column for recording the amounts for each tra...

A: Lets understand the basics. The two column journal is a journal which is having debit and credit sid...

Q: Using the data provided, perform the steps below to complete the final project.   On December 1, 2...

A:   Trial Balance   Debit ($) Credit ($) Cash (Note) 153,150   Office Supplies 500   Equipm...

Q: During 2014, Search Company which uses the allowance method of accounting for doubtful accounts, rec...

A: Cash flows from operating activities is one of the important section of cash flows statement which s...

Q: Carter Industries has two divisions: the West Division and the East Division. Information relating t...

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Q: Wheels N Cogs is a small business that designs gear for a variety clients including those that produ...

A: Break even point is point of sales volume where there is no profit no loss situation. That means con...

Q: Choy, ufter recelving her degree in Hotel and Restaurant Management began her own business called Ch...

A: Accounting equation of the business says that total assets must be equal to total liabilities and eq...

Q: On December 1, 2021, ABC Company acquired all the assets and liabilities of XYZ Inc. issuing 100,000...

A:

Q: Explain

A: There are several forms of business organisation. These are sole proprietorship, partnership and cor...

Q: Explain: Understanding the intentions of accounting students to pursue career as a professional acco...

A: Answer: There are wide variety of scope for accounting field.  Accounting field students have career...

Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid...

A: The cost of acquisition is the purchase consideration paid i.e. P 14,00,000 Net assets taken over   ...

Q: nelly as a partner in business. Just before the partnership's formation, Marie books showed the foll...

A:

Q: Required information [The following information applies to the questions displayed below.] Lawson Co...

A: The balance sheet is a part of financial statements. It indicates the overall position of the busine...

Q: Required information Use the following information for the Exercises below. (Algo) 1 [The following ...

A: >Process costing includes calculation of Equivalent units and cost per equivalent units. >...

Q: Really need help with this please and thank you.  Wolford Department Store is located in midtown Me...

A: The income statement is prepared to record the revenues and expenses of the current period. 

Q: On August 22, 20X1, an employee of Bell Company mistakenly debited the Truck Expense account rather ...

A: Errors are unintentional mistakes this is due to oversight or wrong totalling or posting entry in wr...

Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid...

A: Fair value of net identifiable assets =  P133,000 + P900,000 - P10,000  = P1,023,000

Q: On January 1, 2021, ABC Co. acquired all of the identifiable assets and assumed all of the liabiliti...

A: SOLUTION GOODWILL = PURCHASE PRICE OF TARGET COMPANY -(FAIR MARKET VALUE OF ASSETS - FAIR MARKET VAL...

Q: An assumption inherent in a company’s IFRS statement of financial position is that companies recover...

A: IFRS are the international financial reporting standards which describes the rules and principles ab...

Q: Prepare BALANCE SHEET

A: Balance sheet is a statement on financial position of an business enterprises. It is called a balanc...

Q: buds: re purchased at a cost of $6,202 each. In add 248 cash on each case to have the inven heir pla...

A: i.) At EOQ the stock administration cost will be minimum     EOQ = 2 × A × OC              = 2 × 108...

Q: On January 1, 2021, ABC Co. acquired all of the identifiable assets and assumed all of the liabiliti...

A: Answer: ABC co has acquired 100% of the shares of XYZ Inc. Given Fair value of identifiable assets o...

Q: relates to CEE Company: (Refer to image). Assuming CEE Company used the conventional retail inventor...

A: The value of goods still available for sale and held by a company at the end of an accounting period...

Q: n 30 June 2016, Cameron Clothing purchased $10000 of inventory on a one-year, 10% note yable.

A: Solution: Interest is accrued from the date of issuance of Note till the date of adjusting entries. ...

Q: Pedro Corp. currently has sales of P2,000,000, and its days sales outstanding is 2 week. The financi...

A: Given data, Sales =P2,000,000 Days sales outstanding = 2 weeks   New sales =50% increase Bad debts =...

Q: Following are two income statements for Alexis Co. for the year ended December 31. The left number c...

A: Journal is the book of original entry in which all the transactions of the business are recorded ini...

Q: Mo Burrow owns a 25% interest in Bengal LLC. On December 31, 2021, Mo Burrow's basis in the LLC is $...

A: a) Mo Burrow's basis in the LLC is $40,000  LLC distributes $25,000 in cash parcel of land $30000 LL...

Q: Davao Company prepares quarterly interim financial reports. The entity sells electrical goods and no...

A: Given data: Sales in the first quarter = P10,000,000 Sales in the second quarter = P15,000,000 Provi...

Q: The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6...

A: Cash Reference Number  Amount   Amount  Reference Number 1  $      6,400  $        5,300 2 5  ...

Q: 1 Aug Started business with $150, 000 in the bank 27 Aug Electricity paid by cash $1,500.00 3 Aug Bo...

A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...

Q: UBERCRUMMIE & FRITCH CO. CONSOLIDATED BALANCE SHEETS Formulas/Links Common Size Analysis Trend Analy...

A: Trend analysis is that financial statement analysis, under which increase or decrease is calculated ...

Q: Lawson Consulting, which began operations on December 1, had the following accounts and amounts on D...

A: The balance sheet represents the financial position of the business with assets and liabilities on a...

Q: Black pens produces 12,000 units of gel pen T50 annually at a total cost of 270,000 Direct materials...

A: Relevant costs: =Direct materials+Labor cost+Variable overheads +avoidable fixed overheads +Revenue ...

Q: Repeat the requirements for part (a), assuming that Bonita Company has no reliable data with which t...

A: The question is based on the concept of Financial Accounting.

Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the...

A: Answer: Social and economic accounting and financial are all related with each other. The basic conc...

Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of Wire...

A: Perpetual and Periodic Inventory system Purchase and sales records  are updated constantly in perpet...

Q: EB8.  LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.7.(Previous que...

A: Bank reconciliation is a statement prepared to check what are the items that has caused a difference...

Q: An assumption inherent in a company’s IFRS statement of financial position is that companies recover...

A: Solution Concept IFRS stands for the International financial reporting standards IFRS are approved a...

Q: 3 Your business makes cash sales of $100 000 worth of goods (plus GST of 10%) and collected cash up ...

A: GST collected from customers are in nature of current liabilities which should be settled generally ...

Q: Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets $ 25,796 $ 30,1...

A: Days Sales Uncollected: The days' sales uncollected ratio is a liquidity measure that creditors and ...

Q: MARCH 1 Caleb invested ₱50,000 cash and ₱20,000 equipment to his Kaizen Consultancy Services. 3 Boug...

A: Ledger is a prime book that includes all the accounts such as Assets Account, liabilities Account, C...