Under what circumstances does an estate have an executor

Q: Marter Co. filed a bankruptcy petition and liquidated its noncash assets.  Marter was paying forty…

A: Mortgage is a form of loan where an asset is produced as a collateral in order to receive the funds…

Q: issuing at P15 per share one-half of the 950,000 ordinary On January 1, 2021, Penn Company began…

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

Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…

A: Total capital of the partnership after admission of new partner = Total capital of the partnership…

Q: CNR Computer is considering moving some of its operations overseas in order to reduce labour costs.…

A: Production Cost- Production costs are the expenses incurred by a manufacturer while producing a…

Q: ONSIDERED AS DESKTOP P . TRUE FALSE

A: DOT Matrix  Printer Desktop Printer

Q: Since 2016, DS Tech's return on common stockholders' equity has been 20%. During that time. DS had…

A: Return on common stockholders' equity is the percentage of net income to common stockholders'…

Q: Accounting Tulip Company decided to change from LIFO to FIFO inventory costing, effective January 1,…

A: Introduction: Net income is an individual's income after taxes and deductions are deducted.…

Q: When the company uses the normal costing system, Work in Process is not debited for: Actual…

A: Under Normal costing method, Direct Material Costs, Direct Labor Costs and factory overheads are…

Q: The double-declining-balance method is to be used for an asset with a cost of S88,000, an estimated…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: Given the information in Exhibit 11.2, calculate the bank's dity sources to liquidity needs. Is…

A: Liquidity sources refer to the mediums of generating money or liquid cash such as cash or cash…

Q: Matching: For each of the following situations, select the best answer concerning the…

A:

Q: 36. If there were no intercompany transactions between the parent and its partially-owned…

A: A partially owned subsidiary company is a company in which another company holds less than 100% of…

Q: lloons By Sunset (BBS) is considering the purchase of two new hot air balloons so that it can expand…

A: Solution: Accounting rate of return is based on Net operating income and initial investment. Payback…

Q: total increase in the capital

A: A partnership firm refers to a contract between two or more persons to form a business together and…

Q: The following transactions of Africa Traders (not registered as a VAT vendor) only appeared in the…

A: Cash payment journal means the books that record all the transaction where the payment is made…

Q: USA Trading Corporation and you need to record the following transactions in the General Journal &…

A: Separate entries are passed for sales and cost of sales

Q: Chanel's interest in the partnership is P 110,000.  Chloe buys Chanel's interest  for P 120,000.…

A: Solution: As Chloe buys Chanel's interest, Chanel's capital in partnership will transferred to Chloe…

Q: The GMA corporation shows the folowing data related to an item of Inventory Inventory, January 1 100…

A: Cost of goods available = (100 x P50) + (300 x P54) + (90 x P60) = P26,600

Q: The declaration, record, and payment dates in connection with a cash dividend of $31,100 on a…

A: A CASH DIVIDEND IS THE DISTRIBUTION OF FUNDS OR MONEY PAID TO STOCKHOLDERS GENERALLY AS PART OF THE…

Q: An investment worth P203,000,000 is made from a certain transaction of a supposed philanthropist.…

A: As per our protocol and guidelines we provide solution to the one question or if in case of…

Q: 4. Which ONE of the following is NOT an advantage of judicial precedent? A Creates consistency В Can…

A: Option B: Can be hard to understand and apply. As judicial precedent are very complex which is a…

Q: The GMA corporation shows the folowing data related to an item of Inventory Inventory, January 1 100…

A: Total cost of goods available = (100 x P50) + (300 x P54) + (90 x P60) = P26,600

Q: 1. Whitman is the:

A: The taxable total income of the individual taxpayer includes the income earned by the respective…

Q: In which order are partnership assets distributed to the partners?   Group of answer choices…

A: Loan is paid to the partner irrespective of the capital balance. Then profit is distributed to…

Q: The selling price for a fishing boat is $9,572.39. What percent of the sale price is the markup if…

A: Markup: It implies to the extra amount that is added to the cost of the goods to make them…

Q: ed as a passthrough entity. If Grant's marginal tax rate is 35 percent and Marvin's marginal tax…

A: Net Present Value:   Net Present Value is the difference between the present value of cash inflows…

Q: A company has purchased a capital asset for $21.2 million. The asset belongs to the 5-year MACRS GDS…

A:

Q: Leg Cmpany was organied at the begioning of the ourent year. The entity previded the fllowing tratis…

A: GIVEN    1. The corporation was authorized to issue 100,000 ordinary shares with par value of P100.…

Q: What is the high-low method used to estimate? a. variable costs and production capacity b. total…

A: High low method is a method using which the variable cost per unit and Total fixed cost is…

Q: izio Company purchases a machine for $13,400, terms 1/10, n/60, FOB shipping point. Rizio paid…

A: In Accounting, the total cost concept is more applicable to financial reporting since overhead…

Q: units were produced. Prego would report depreciation in 2022 of: Multiple Choice $110,067. $132,800.…

A: Introduction:-. Depreciation is an expense. Which is charged on fixed asset over estimate useful…

Q: Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department…

A: Solution: Equivalent units under weighted average method = Units completed and transferred out +…

Q: The Weber Company purchased a mining site for $573,259 on July 1. The company expects to mine ore…

A: For the use of natural resources, depletion expenses is charged (against profits). It is most common…

Q: 61 If the home office ships merchandise to the branch at an amount above the cost, at what amount…

A: A BRANCH IS A UNIT OF BUSINESS ENTERPRISE LOCATED SOME DISTANCE FROM HOME OFFICE . A BRANCH…

Q: On March 15, Summit Hawk declares a quarterly cash dividend of $0.035 per share payable on April 13…

A: Dividend payable = shares outstanding × Dividend per share

Q: On January 1, 2022, ABC Company signed a note payable to a bank for P3,000,000 with a stated rate of…

A: The notes payable are generally considered a long-term liability because it is issued normally for a…

Q: Company A calculates the cost per unit of its product at $ 28 (with $ 18 variable cost & $ 10 fixed…

A: Increase (decrease) in net profit = (Selling price per unit - relevant cost per unit) x No. of units…

Q: Read the case study below and answer the questions that follow. Hendry Limited produces a…

A: Using variable costing approach, only variable costs are included in the product cost.  Using…

Q: he management of luke skywalker Corporation estimates overhead based on the number of direct labor…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base…

Q: Pure Compe

A: The taxable total income of the individual taxpayer includes the income earned by the respective…

Q: AAA Inc. acquired on January 1, 2016 all the issued and outstanding common shares of BBB Inc. for…

A:

Q: Recognition of tax benefits in the loss year due to a NOL carry back involves: OThe establishment of…

A: Deferred tax asset: When book profits of entity is less than taxable profits it results in deferred…

Q: How shall an acquirer in a business combination account for the changes in fair value contingent…

A: The acquirer shall account for changes in the fair value of contingent consideration that are not…

Q: On January 1 of this year, Diaz Boutique pays $185,000 to modernize its store. Improvements include…

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

Q: Janet Wooster owns a retail store that sells new and used sporting equipment. Janet has requested a…

A: The cash budget is prepared to record the cash receipts and cash disbursements during the period.…

Q: 1a. On May 1$t, 2015, Nancy Silva paid $870,000 for a commercial building. She later sold the…

A: MACRS is the modified accelerated cost recovery system. There is two depreciation system in MACRS,…

Q: ABC Company uses a backflush costing system with three trigger points: Purchase of direct materials…

A: Calculation of the Value of ending Finished Goods as of the end of April::: ABC Company produced…

Q: ush and by issuing its own shares with a fair value of P1,350,000. Parent acquired si hs, Parent…

A: The goodwill or gain on bargain purchase refers to the excess or short amount paid for the…

Q: (a) Why is education and training rarely provided by firms? What government policies would encourage…

A: Educated employees earn more and have more opportunities than the person without a degree or…

Q: orrection to m

A: The taxable total income of the individual taxpayer includes the income earned by the respective…