What are not-for-profit corporations?

Q: The Lancer Company has a single investment property, which had original cost of P580,000 on January…

A: Under the fair value model, investment property is remeasured at the end of each reporting period.…

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: Meow Products Ltd. in the US produces and sells scratching posts for cats. In the current year, the…

A: Direct material price variance is the difference between standard price per unit of material and…

Q: Which of the following measures both efficiency and effectiveness? O a social responsibility Ob…

A: Efficiency and effectiveness are the elements of any work to be done and both these components go…

Q: At the beginning of the current year, Bert Company purchased a mineral mine for P26,400,000 with…

A: Lets understand the basics. Depletion needs to calculate when there is extraction of mineral…

Q: 7. Question Content Area Schedule of Cash Receipts Del Spencer is the owner and founder of Del…

A: Cash budget:  It implies to a financial plan that gives an estimated figure of all the cash outflows…

Q: Pauline Company acquired 4,000 shares of the outstanding stock of Sophia Company for P1,200,000 on…

A: It is the net income of parent company of its own and share in subsidiary company. The share of…

Q: Cash Receipts Budget and Accounts Receivable Aging Schedule Shalimar Company manufactures and sells…

A: The budget for cash receipts shows the future cash receipts that the company could collect in a…

Q: Safe Ladies' Home, Inc owns a three-storey building along Asturias. The whole building, divided into…

A: Investment property: It implies to the property that is held by the owner so as to earn rental…

Q: Information for two alternative projects involving machinery investments follows. Project 1 requires…

A: Net annual cash flows is the difference between annual cash inflows and annual cash outflows.…

Q: Required: 1. Compute the profit-linked productivity measure. By how much did profits increase due to…

A: Profits Profits refer to the monetary benefit realized when the total revenues from a business…

Q: The following selected transactions relate to investment activities of Ornamental Insulation…

A: Available for sale securities refer to those securities purchased by a business entity for the…

Q: Pass Journal Entries: Recording Cost of Goods Sold in a Perpetual System: • Daisy's sells a pair of…

A: Periodic inventory method: It is a inventory valuation method in which inventory is updated at the…

Q: The firm Amble is entirely financed by equity. It has 4 million shares and a current share price of…

A: given   The firm Amble is entirely financed by equity. It has 4 million shares and a current share…

Q: G.       H.       I.       J.    Budget Perf

A: The term with definition as,

Q: Question Content Area Cash Budget Janet Wooster owns a retail store that sells new and used…

A: Cash budget- A cash budget is an evaluation of the cash flows of a company over a particular point…

Q: Bonneau Company currently has 20,000 shares of $10 par common stock outstanding. Prepare entries to…

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

Q: On January​ 1, 2018, you purchased 1,000 shares of a fund for​ $20.43 per share. During the​ year,…

A: A dividend appears to be a portion of a company's earnings and retained earnings distributed to its…

Q: As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased…

A: Journal entries shows the recording of transactions during an accounting year and every transaction…

Q: 12. On an average basis, how long does it take Apple to sell inventory in fiscal year 2021? Compare…

A: Apple 10-k…

Q: Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its…

A:

Q: The general journal records the daily transactions of a business pertaining to: a. Purchases…

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

Q: ash Budget Friendly Freddie’s is an independently owned major appliance and electronics discount…

A: Cash budget is one of the important budget being prepared in business. It shows expected cash…

Q: Using the following information, prepare a balance sheet on December 31, 2020, for The Eastern…

A: Note : Kitchen fuel & Food sales are not balance sheet items. They are expenditure and income…

Q: On January 1, 2021, Bongbong Company received a consollidated grant of P 12,000,000. three-fourths…

A: IAS 20 outlines  accounting and recognition of government grants. In case grant  is related  to…

Q: You are considering two job offers: Job 1 is a full-time position that pays $58,000 annually and Job…

A: Pretax earnings are the earnings of a corporation after subtracting all operating expenses,…

Q: The journal entry to record depreciation expense is: O A. debit the asset account, credit…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

Q: On December 31 , 2018 Nicholas Co. is in financial difficulty and cannot pay a note due that day .…

A: (Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATION Balance…

A: Number of shares outstanding = Common stock/Par value                = 74,500/5                =…

Q: On January 1, 2020, an entity adopted a plan to accumulate funds for a new building to be erected…

A: In the given question, the company is planning to deposit a fixed sum each year (first deposit being…

Q: Problem 18-13 Roma Company provided the following shareholders' equity at year-end: Preference share…

A: The amount of net profit remaining after dividends have been distributed out to the company 's…

Q: Sweet Company’s outstanding stock consists of 1,800 shares of cumulative 5% preferred stock with a…

A: Formula: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value…

Q: Anthoney Inc's trial balance contains the following balances: Cash $535 Accounts Receivable $278…

A: GIVEN   Anthoney Inc's trial balance contains the following balances: Cash $535 Accounts Receivable…

Q: Janos Company, which has only one product, has provided the following data concerning its most…

A: Formulas: Unit product cost for the month under absorption costing = Direct materials + Direct labor…

Q: could someone please explain how after controlling the natural log of total assets, current ROA can…

A: Return on investment (ROI) is essential in an organization used to assess the efficiency or…

Q: Matchroom's investment appraisal committee have worked out the Net Cash flows in the working shown…

A: The discount rate required to make a project's net present value (NPV) zero is called the Internal…

Q: The average and FIFO process costing methods differ in that the average method: a. Can be used…

A: ANSWER : An average cost method of process costing differs from the FIFO method of process costing…

Q: Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted…

A: Cash receipt budget is the one that recorded the estimated receipts of cash in the coming period.

Q: Messla, Inc. manufactures solar-powered vehicles. Some of the costs from the past year include:

A: 1. Janitor means care taker or door keeper. So, he is not direct involved in production.  That's why…

Q: December 31, 2020. Cash surrender value of life insurance, December 31, 2020 -

A: Life insurance seems to be an agreement between an insurance policy owner as well as an insurance…

Q: At the end of the month, the schedule of accounts payable (a list of ending amounts

A: In schedule of accounts payable,  name of vendor, invoice number, date of sale, due date of bills ,…

Q: Trumbull Co. plans to produce 100,000 toy cars during September. Planned production for October is…

A: Raw material purchase budget is prepared with a view to estimate the cost of total material required…

Q: Given: The 456 Company purchased office supplies from A-One Supplies worth P124,000 on July 06,…

A: In the given question, A-one Supplies has offered a trade discount of 15% and 10%: It implies that…

Q: Cash Budget

A: A budget is a statement containing an estimate of future expenses and income. A budget helps us to…

Q: A paper mill located in a smail rural town uses complicated, heavy-duty machines to turn logs into…

A: Backward integration in supply chain analysis refers to the suppliers of raw materials and other…

Q: What are the ethical responsibilities of the tax practitioner in dealing with tax evasion?

A: Tax evasion is described as the unlawful nonpayment of actual tax due or unpaid wages. The IRS can…

Q: Auditing an attestation client's inventory accounts can vary widely in complexity and time required…

A: Inventory accounts are audited to report on the true and fair state of inventory balances on a…

Q: On January 1, Parisian Palaces received $95,000 for one year's rent for building A. What would the…

A: Adjustment entry is the entry made for accounting period to record the amount of right amount of…

Q: The condensed financial statements of Ivanhoe Company for the years 2016 and 2017 are presented as…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The carrying amount of production machine as of December 31, 2020 is

A: Carrying value of the asset at a particular date is the value of the said value in the books of the…