Transation
Q: n January 1, 2020, Christine Company borrowed P30,000,000 at 12% to finance partly the construction…
A: Interest to be capitalised on Decemeber 31, 2020 = 12% x P30000000 =P 3600000 = P3600000
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A: A lease is an arrangement where a lessor agrees to allow a lessee to control the use of the asset…
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A: Solution a: Statement of Cash Flows (Partial) Particulars Amount Cash flows from operating…
Q: 1. At the end of a period, the inventory account is _______
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
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A: Price of bond is present value of coupon payment and present value of par value of bond depending on…
Q: RO 50,000 RO 5,000 RO 3,000 Sales Opening stock Closing stock Purchases Selling expenses RO 35,000…
A: Formula: Gross profit ratio = ( Gross profit / Net sales ) x 100
Q: A company reports the following information: Month Units Sold Total Cost $ 5,500 $ 7,000 $ 8,100 $…
A: Highest activity = 2500 units Lowest activity = 650 units
Q: Red Company adds materials at the beginning of the process in Department O. The following data…
A: Equivalent units of ending inventory = 8,000 x 75% = 6,000
Q: Shaw Company produced 730 units, Its overhead allocation base is DLH and its standard amount per…
A: GIVEN Shaw Company produced 730 units. Its overhead allocation base is DLH and its standard amount…
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A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
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A: The answer is stated below:
Q: 3.17 A company had income of P30,000 using absorption costing for a given period. Beginning and…
A: The question is related to Marginal and Absorption Costing. When closing stock is more than opening…
Q: Adjustments to net Income - indirect method DATA $14,785 $4,500 Depreciation Amortization of patents…
A: Cash Flow from Operating Activities: Under Indirect method of Calculating the cash flow from…
Q: Q16)Which accounting concept specifies the practice of crediting closing stock to the trading…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: The following are the inventories for the years 2016, 2017, and 2018 for Parry Company: Cost Market…
A: ANSWER The inventories for the years 2016, 2017, and 2018 for Parry Company is
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A: Correct answer is (C) 10 years .i.e In pacto de retro sale or sale with a right to repurchase of an…
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A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
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A: Return on investment (ROI) is a performance indicator that can be used to evaluate the efficiency or…
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A: A classified Balance Sheet is a balance sheet that is divided or classified under various heads of…
Q: Balance of Deprec
A: A decrease in the value of an asset over a period of time / over a useful life is known as…
Q: PROBLEM: Based on its general ledger/records, Alfonso Co. reported inventory of P356,400 at the end…
A:
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A: Equity of the investor means the amount that is invested by the investor in the company. Equity…
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A: Financial statements are those statements which are prepared at the end of accounting cycle period…
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A: Depreciation: - Depreciation is the amount of reduction in the value of assets by its regular use…
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A: Note: As per the norms of the Barleby, in case of multiple sub parts been asked, only answer to 3…
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Q: ch of
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- Bought equipment for cash amounting to P10,000
- Paid employees amounting to P25,000
- Paid loan payables amounting to P30,000
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- Estimate the average total estimated useful life of depreciable property, plant, and equipment. Starbucks reports 580.6 million of depreciation and amortization in the statement of cash flows, of which 4.5 million relates to amortization of limited-life intangible assets. Does the estimate reconcile with stated accounting policy on useful lives for property, plant, and equipment? Explain.Jada Company had the following transactions during the year: Purchased a machine for $500,000 using a long-term note to finance it Paid $500 for ordinary repair Purchased a patent for $45,000 cash Paid $200,000 cash for addition to an existing building Paid $60,000 for monthly salaries Paid $250 for routine maintenance on equipment Paid $10,000 for extraordinary repairs If all transactions were recorded properly, what amount did Jada capitalize for the year, and what amount did Jada expense for the year?Jada Company had the following transactions during the year: Purchased a machine for $500,000 using a long-term note to finance it Paid $500 for ordinary repair Purchased a patent for $45,000 cash Paid $200,000 cash for addition to an existing building Paid $60,000 for monthly salaries Paid $250 for routine maintenance on equipment Paid $10,000 for major repairs Depreciation expense recorded for the year is $25,000 If all transactions were recorded properly, what is the amount of increase to the Property, Plant, and Equipment section of Jadas balance sheet resulting from this years transactions? What amount did Jada report on the income statement for expenses for the year?
- Johnson, Incorporated had the following transactions during the year: Purchased a building for $5,000,000 using a mortgage for financing Paid $2,000 for ordinary repair on a piece of equipment Sold product on account to customers for $1,500,600 Purchased a copyright for $5,000 cash Paid $20,000 cash to add a storage shed in the corner of an existing building Paid $360,000 in monthly salaries Paid $25,000 for routine maintenance on equipment Paid $110,000 for major repairs If all transactions were recorded properly, what amount did Johnson capitalize for the year, and what amount did Johnson expense for the year?Ngo Company purchased a truck for $54,000. Sales tax amounted to $5,400; shipping costs amounted to $1,200; and one-year registration of the truck was $100. What is the total amount of costs that should be capitalized? A. $60,600 B. $66,100 C. $54,000 D. $59,400Total operating expenses of Model Service for the period is P150,000 which were all paid in cash except for the P15,000 payable in the subsequent period. The operating expenses will decrease the asset by a. P 5,000 b. P 15,000 c. P135,000 d. P150,000
- a. Identify the following transactions as either Capital Expenditure or RevenueExpenditure.i). Pay salary and wages for November 2020 amounting to RM6,200.ii). Purchase vehicle for business use amounting to RM145,000.iii). Depreciation expense for financial year ended 2020 amounting to RM21,000.iv). Purchase stationery for office use amounting to RM450.v). Acquire a building amounting to RM520,000.vi). Repair office door amounting to RM800.Equipment, December 31, 2021 $91,000 Equipment, December 31, 2022 $100,800 Accumulated Depreciation, December 31, 2021 $54,600 Accumulated Depreciation, December 31, 2022 $42,000 During 2022, the company sold equipment with a cost of $42,000 and accumulated depreciation of $35,000. A gain of $4,200 was recognized on the sale of the equipment. What amount would be reported as the cash proceeds from the sale of the equipment? Select one: a. $4,200 b. $8,400 c. $7,000 d. $2,800 e. $11,200Proceeds from sale of land=$300,000 Proceeds from long-term borrowings=$400,000 Purchase of plant assets=$280,000 Purchase of inventories=$850,000 Proceeds from issuance of common shares=$300,000 Find out the cash provided by investing activities.
- Question Content Area The following information relates to the Maxwell Company for 2020: Gain on sale of land $800 Bond payable premium amortization 300 Decrease in accounts payable 700 Increase in prepaid expenses 100 Net income 9,400 Purchased equipment 15,000 Increase in salaries payable 400 Proceeds from sale of land 7,000 Decrease in inventories 2,100 Payment of dividends 1,600 Depreciation expense 1,000 Required: Compute net cash provided by operating activities for the Maxwell Company for 2020. Net cash provided by operating activitiesA truck with an original with an original cost of $ 22,000 and book value of $5,000 was sold for $4000 cash. The loss on sale would be reflected on the cash flow statement as a $22,000 subtraction under investing activities. $1000 subtraction under investing activities. $4,000 addition under operating activities. $1,000 addition under operating activities.Proceeds from sale of land=$300,000 Purchase of plant assets=280,000 Purchase of inventories=850,000 Proceeds from issuance of common shares=300,000 Find out the cash provided by investing activities for calendar 2020.
