What are the 7 advantages of using a special journal? give brief explanation of the each.
Q: b. Income statement using the "cost of goods sold" method a: Statement of cost of goods manufactured…
A: Based on the information provided, cost of goods manufactured needs to be prepared. Cost of goods…
Q: Dividend Date st with Dividend Dat claration Date
A: (Note: Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: aders owns the following assets on 31 December 2021: rd EcoSport- CS 23 TM GP: Purchased on…
A: Accumulated depreciation refers to an asset's depreciation up to a single point in its life. Because…
Q: Calculate the following variances (i)Direct material total variances (ii)Direct labor total…
A: Variance analysis is used by the company to answer the various questions regarding about the actual…
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose…
A: In order to determine the units sales to attain a target profit, the fixed cost plus target profit…
Q: The following is the Balance Sheet of Lila Ltd. as on .31.12.2814. Liabilities Amount ($) Assets…
A: Calculation of Average Profit: Year Profit 2010 34,000 2011 38,000 2012…
Q: Prepare an income statement for Sary's Salon using the following information for operations over…
A: preparation of income statement are as follows
Q: How much is the total gross income subject to regular income tax if a domestic corporation reported…
A: Gross income includes the total income which is subject to tax. Domestic corporation means the…
Q: esult of the accounting change?
A:
Q: GIVEN: • Taxpayer is a PEZA-registered enterprise Taxable year is 2021 • Financial data Related…
A: hilippine Economic Zone Authority (PEZA) registered entities are given tax incentives such as in the…
Q: On May 1, 2022, Carlo has been in a trading business for five years as a sole proprietor. He needed…
A: Partnership means where two or more person comes together to do some common business activity and…
Q: r balances of Nizwa Bank as on 31 st Dec.20 OMR (o00.) 2,500 Share Capital 1,500 Statutory Reserves…
A: Income Statement- An income statement is a financial statement that shows an organization's income…
Q: P 205,000 67,900 36.500
A: It is given that the information of Brother Paul's Burger House.
Q: Generally, industrial partners share in the losses sustained by a partnership. O True False
A: Solution Concept Industrial partner are the partner who contributes their expertise to the…
Q: Which of the following problems can be most ea client's year-end sales cutoff?
A: Sales revenue represents the revenue of the company by selling the products produced by the company.…
Q: Question 3 Working capital management is so critical in the organization. The following…
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…
Q: Potential partners might not want to form a partnership because of the risk of having their personal…
A: The partnership is a form of business where two or more individuals agree to carry a business and…
Q: From the following statements which one is not the correct classification of accounting theory
A: Accounting theory is the theory which is actually the set of guidelines, principles or in order…
Q: What is the amount of ending retained earnings in the following case? Beginning retained earnings =…
A: Given information: Beginning retained earnings $200,000 Net income…
Q: vith a note payable of 14% in pany uses the accounting pe 7 basis
A: Given as, Short term debt= 65,000 for 5 months period.
Q: equity accounts with the corres sent the residual equity of the
A: Partnership refers to the legal act between two or more entities who decide to run the business…
Q: Put this transaction on the accounting equation: Invested R500000 into capital as a fixed deposit
A: Accounting equation is one of the important part of accounting. Three main and important elements of…
Q: Coronado Industries required production for June is 142000 units. To make one unit of finished…
A: A direct material purchase budget is used to estimate the units that should be purchased for the…
Q: Blossom, Inc. expects sales volume totaling $510000 for June. Data for the month follows: Sales…
A: The selling expense budget is prepared at the beginning of the period that includes the selling…
Q: LA Company, which plans to sell 200,000 units of finished product in July, anticipates a growth rate…
A: The production budget is prepared to estimate the number of units to be produced during the period.
Q: AGF partnership begins its first year of operation with the following capital balances and profit…
A: P&L Appropriation Account…
Q: GIVEN: • Taxpayer is a non-stock and non-profit educational institution. • It has been granted with…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: Which of the following statements regarding additional information that is included in a document…
A: Audited financial statement is the financial statement which has been audited by the qualified…
Q: Hawk company employs Weighted Average process costing system in the assembly department and FIFO…
A: The cost assigned to a particular department is determined by considering total units remaining as…
Q: Generally accepted government auditing standards (GAGAS) can apply to a: Group of answer choices…
A: Auditing standards are those which are provided by the appropriate organizations for the auditors so…
Q: When a partner makes a cash withdrawal that is intended to be a permanent reduction in his or her…
A: Financial accounting refers to the type of accounting which is primarily used by the outsiders to…
Q: Calculate the relevant cost for the special windows held in inventory. Multiple Choice A)…
A: An order for a special type of window has been received by the council owned factory. The factory…
Q: Mary operates a famous company in Canada, selling down jackets. She is planning to establish…
A: The answers for the questions on operating a business through branches in a country other than its…
Q: Johnson Corp. has two divisions, Division A and Division B. Division B has asked Division A to…
A: Introduction: Transfer pricing is the pricing of products and services sold between controlled (or…
Q: Problem 6 CPA Co. was organized on January 1, 2017. An analysis of the company's allowance for bad…
A: Bad Debt expense is an expense recorded in financial statements when amount receivable from debtors…
Q: Blossom Company reported the following information for November and December 2022. November December…
A: Ending inventory is the price of factors handy there at cease of a reporting period. For a company…
Q: Current Attempt in Progress Nieto Company's budgeted sales and direct materials purchases are as…
A: Cash sales for March = 250000×30% = $75000
Q: Hey, Could you explain how you arrive at the depreciation as follows: Motor Vehicle 25,000…
A: The depreciation on the above assets is calculated on the basis of the different asset classes and…
Q: What is the effective annual rate for RST Bank if they offer 2.5% per annum compounded semi-annually…
A: the effective annual rate is the rate of interest that an investor can ear in a year after taking…
Q: Closing entries The ledger of the General Fund of the City of New Lanier shows the following…
A: The appropriation amount is divided into Estimated revenue and Budgetary fund balance.
Q: Zora is budgeting her available time for the next couple days. She spent 2/5 of her time on…
A: Calculation of aggregate ratio of time consumed on Homework and Internet Aggregate ratio of time…
Q: Jeremiah Wood wants to set up a fund to pay for his daughter's education. In order to pay her…
A: We will find present value of the future requirement of funds to know what amount we must invest to…
Q: hs. 50,000, furniture of Kshs. 10,000, goods of Kshs.2, 000 and machinery worth Kshs.20, 000. During…
A: A financial statement is one prepared by the companies to depict the financial performance and the…
Q: Please answer quickly: How do the objectives of evaluating financial condition differ between…
A: A creditor is a financial expert who evaluates the creditworthiness of assets, individuals, and…
Q: A partnership agreement may NOT include O the method of allocating profits and losses the purpose of…
A: A partnership is an agreement between two or more partners where partners are agreed to work…
Q: Which factor should be considered appropriate to have rotation of auditors Select one: a. A…
A: The auditor is the person who audits the books of the company. The auditor verifies all the reports…
Q: Sanjay Company has monthly fixed costs of $112,000. The variable costs are $5.00 per unit. The sales…
A: Total sales revenue = Number of Units sold × selling price per unit
Q: P1.2. Alice Hospital provides you with the following information that relates to its operating…
A: Statement of operations is a component of the financial statements that shows the net result of…
Q: /Quiz FIN 204/E2 Financial Management I. Recognize revenue when it is fully earned. II. Match…
A: The accounting is a process to classification the transactions, record the transactions and prepare…
Q: Chart of Accounts CHART OF ACCOUNTS Prepare the following: CODE Account Title 101 CASH 102 ACCOUNTS…
A: A ledger is a book containing accounts in which the classified and summarized information from the…
What are the 7 advantages of using a special journal? give brief explanation of the each.
Step by step
Solved in 2 steps
