What amount should be reported as net income for the quarter ended September 30, 2021?

Q: en’s outstanding stock. At the current year-end, the following information has been accumulated for…

A: Consolidated financial statements are the financial statements of a company with multiple divisions…

Q: The inventory value for the financial statements of Z for the year ended 31st March 2022 was based…

A:

Q: [The following information applies to the questions displayed below.] Antuan Company set the…

A: The variable cost per unit remains constant and total fixed costs remains constant at every level of…

Q: Frieden’s management is considering a major upgrade to the manufacturing equipment, which would…

A: The contribution income statement is the statment that shows the contribution margin and the…

Q: ng is the retained earnings account for the year 2022 for Acadian Corp. ed earnings, January 1, 2022…

A: Statement of Retained earning is an essential part of the financial statement of the companies that…

Q: a) A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into…

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: er the beginning cash and capital balances and post the transactions. (Post entries in the order of…

A: Cost of goods sold refers to the charges born by a company while selling its products or services to…

Q: one of the labs of college of engineering bought a machine the worth purchasing of it is (50,000 $)…

A: Depreciation is an accounting technique for distributing a tangible or fixed asset's cost over its…

Q: Total sales revenue Selling price per snowboard Variable selling expense per snowboard Variable…

A: The contribution margin is calculated by deducting all the variable costs related to the product…

Q: = company had the following balances: $9,800 65,847 30,640 onsisted of the following jobs: D

A: Total cost =  Beg WIP plus cost added during the month Cost added during the month is direct…

Q: Chapter 3 of the text focuses on The Accounting Framework, which includes a discussion of the…

A: The company produces financial information as a result of business operations. The financial…

Q: The adjusting entry for accrued expenses includes O a. a debit to an expense account.

A: First of all we have to understand the concept of accrued expenses, Accrued expenses are the…

Q: O a. on a ba O b. on an in O c. on a sta t

A: Vertical Analysis is used to know what is happening within Financial Statement of the company , like…

Q: A new accountant at Coronado Inc. is trying to identify which of the amounts shown below should be…

A: Answer -    Working Note -  1. petty fund: It shall be taken as is cash. 2. The TB is due within 90…

Q: Frieden Company's contribution format income statement for last month is shown below: $1,200,000…

A: Selling price per unit = Total sales revenue/Number of units sold = $1200000/40000 = $30 per unit…

Q: On January 1, 2019, an entity was indebted to a bank under a P4,800,000, 10% loan. The loan was…

A: Impairment loss is when the carrying amount is more than the recoverable amount. Every entity should…

Q: 3. On May 1, purchased $15 of restaurant equipment in cash. 4. Loaned $0.50 to employees for repairs…

A:

Q: Download the spreadsheet here which includes a tax table in each tab. Edit the spreadsheet so you…

A:

Q: Dart, Inc. makes and sells umbrellas. The company is in the process of preparing its Selling and…

A: Cost can be classified into two categories such as fixed cost and variable cost. The fixed cost…

Q: Winter Sports manufactures snowboards. Its cost of making 1,700 bindings is as follows: (Click the…

A: Make cost is the cost incurred in producing the product. Buy cost is the cost of purchasing the…

Q: An insurance company MUST take which of the following actions when one of its producers replace an…

A: Here discuss about the details of the procedures and action which are taken by the insurance company…

Q: XYZ investments Limited had the following balances as at the end of March 2917 Balances Debit(Dr)…

A: In the relevant question, we are supposed to answer the questions in line with the financial…

Q: Ill Company provides the following data for the year 2020:   Cash sales - 500,000; Collection from…

A: The gross sales are calculated as sum of net sales, sales discount and allowance and sales returns.

Q: Batman Company provides the following data for the year 2020: Cash sales - 500,000; Collection from…

A:

Q: Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year,…

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

Q: Rogue Company leases a card-making machine to Gambit Inc. on January 1, 2017.  The following…

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

Q: Prepare the trial balance as of 31st March 2021

A: Journal entries are the first entry which is made on every business transaction on the journal book…

Q: Which of the following depreciation methods most closely approximates the method used to deplete the…

A: Normally Depletion method of depreciation is used for natural resource. Similar to any other…

Q: Journal Entry for Fees Earned Prepare a journal entry on August 13 for cash received for services…

A: Fee earned is the amount of money earned by providing services.

Q: Princeton's detailed age analysis of trade receivables at 31 December 2020 shows the following:…

A: Trade receivables are those receivables which the company have which has not been received by the…

Q: SafeNow sells its main product, ergonomic mouse pads, for $11 each. Its variable cost is $5.20 per…

A: Contribution margin per unit = selling price per unit - Variable cost per unit

Q: I can't even read your handwriting. And the images are sideways. Can you type it up?

A: 1.           1 Computation of Predetermined OH Rate  =$252000/20000 hours $12.60 per DLH…

Q: Draw up a marginal cost statement on the basis that 12,000 units will be sold and calculate the net…

A: 1. Breakeven point is the point where there is no profit and loss. At this point the company has…

Q: show all entries please

A: Given:- WDV of Vehicle as on December 31, 2020 = Cost - Accumulated Depreciation = R100000 - R60000…

Q: How much is the adjustment to the Cost of Sales account to set up its correct balance?

A: Cost of sales, also known as cost of products sold, represents the direct costs connected with the…

Q: Requirement: Prepare adjusting entries

A:

Q: The importance of cash flow management when evaluating proposals for capital expenditure?

A: All investments in capital assets are expected to earn a return, which is evaluated by comparing the…

Q: Using your corrected adjusting journal entries from Assignment #2, post your adjusting entries into…

A: 1. Adjusted Trial Balance - Adjusted Trial Balance includes ledgers after providing adjusting…

Q: Required information PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing…

A: Bartleby Policy: As per policy if any questions has multiple subparts then we are allowed to do only…

Q: Yogi Company expects to sell 1,700 units of finished product in January and 1,850 units in February.…

A: Desired ending inventory for january = February sales units × 40% = 1850×40% = 740 units

Q: Correcting Entries The following errors took place in journalizing and posting the transactions…

A: Correcting Errors in recording Journal Entries: There are 2 ways to correct the journal entries…

Q: What is the correct amount of financial liability that should be reported by Marcus Company in its…

A: Financial instruments are one which gives rise to a financial asset for one company and liability or…

Q: Month No of Units Total Cost anuary 19 P 15,200 February 11 P 13,200 March 46 P 40,800 April 17 P…

A: The high low method is important to separate the fixed and variable costs from the mixed costs of…

Q: Prepare the Following Income Statement Balance Sheet Closing Entries Post-Closing Trial Balance

A: Followings are required to be prepared: Income Statement Balance Sheet Closing Entries Post-Closing…

Q: Tired Company’s assets for the current year decreased by P135,000 while its liabilities increased by…

A: As per accounting equation, assets equals to sum of liabilities and shareholders equity.

Q: Hume, Ltd had the following production data for August:   Beginning Inventory, Raw Materials:…

A: The job costing computes the cost of jobs separately. The overheads are applied on the basis of…

Q: An entity uses the periodic inventory system. Beginning inventory listed 20,000 units at P6.10 each.…

A: >Cost flow from units purchased to Cost of goods sold can be done using either of the 4 methods:…

Q: Which of the following is true regarding adjusting entries? O a. Adjusting entries are dated as of…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period.

Q: 4. John McDonald is employed by Lee & Sterling. He is married, claims two withholding allowances,…

A: Hourly rate for standard time: $16.97 Hourly rate for overtime : $16.97 x 1.50 = $25.46 Standard…

Q: income of the trust to beneficiaries is considered as a. Taxable b. Allowable

A: The question is related to distributed income of the trust to beneficiaries. A trust is an…

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.