What are the uses and limitations of economic data?

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: Prepare only the trading section of the Statement of profit or loss and other comprehensive income…

A: Trading securities are debt and owner's equity that a company expects to sell in the near future for…

Q: Which of Graeter’s stakeholders are most affected by the family’s decision to take a long-term view…

A: The explanation as,

Q: Price paid cash , Number of shares, Market Price per share be?  Would it be? Cash: $480,000 Number…

A: A business combination is a transaction in which the acquirer obtains control of another business…

Q: Units-of-Production Depreciation Schedule Stamping Machine reciation per Unit ($) Units Produced…

A: Year Depreciation per unit  Units  Produced Annual  Depreciation    Accumulated  Depreciation…

Q: Revenues come from sales of goods and services to customers and result in A.decreased assets or…

A: Revenue is the amount earned by the company from the sales of goods or services. Generating revenue…

Q: The following transactions occurred during June 2020 for Rashid Est. June 1 Invested BD64,000 cash…

A: Journaling is the process of recording business transactions in accounting records. This activity…

Q: How much is the premium or discount of the new note payable

A: Premium or discount on the note payable arises due to the fact of that the amount which has been…

Q: Assume prepaid insurance at the beginning of the period amounted to P15,000 and total insurance…

A: Prepaid expenses are those expenses of future years which are paid in advance (in current year).…

Q: The owner of Supreme Fitness has requested your assistance as financial manager in advising on the…

A: Gearing ratio :  The capital gearing ratio is the ratio that shows a relation between Shareholders'…

Q: In 2021, Laureen is currently single. She paid $2,740 of qualified tuition and related expenses for…

A: The term "Claim" refers to a demand for something which is owed to be owed , example of such can be…

Q: On the Income Statement, what would the Gross Profit be for Lion Consulting?  Lion Consulting…

A: Income from operation means operating income. Operating income means profit earned from the primary…

Q: sh flow $137,000 per year 4 years ife of the project rate ew Exhibit 120-1 and Exhibit 128-2, to…

A: Calculation of Net Present Value  =(Annual cash flow x discounting factor) - Initial investment =…

Q: From the following particulars ascertain the labour cost per day of 8 hours:

A: Total labor cost per man for 200 hours 250 10

Q: effects of cash restriction regulations on management of customer banking practices

A: In evaluation to unrestricted cash, restricted cash isn't freely on hand for a company to spend or…

Q: The income statement form that contains several sections, subsections, and subtotals is called the…

A:

Q: ment of materiality guides audit planning and testing   materiality is used to guide the validity…

A: To find the incorrect option as,

Q: Use the following information for the next three (3) questions: At the beginning of current year,…

A: The share capital includes the par value of shares issued by the company.

Q: b. Another team member who is preparing the Budgeted Balance Sheet for the business for the same…

A: The company needs to maintain a minimum cash balance of $155,000 each month. The requirement is to…

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: 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: On January 1, 2022, Proton, Inc. purchased a patent giving it exclusive rights to manufacture a new…

A:

Q: What is the gross profit and how do i calculate it

A: Manufacturing department profit is also known as gross profit. This profit includes only costs…

Q: Answer the following: a. The Annual Worth of Alternative A is = $ Blank 1 b. The Annual Worth of…

A:

Q: What is the rate of return when 15 shares of Stock A, purchased for $30/share, are sold for $500?…

A: The amount earned on a specific investment scheme by an investor during a certain period is defined…

Q: Statement 1: Under accrual basis, net sales is computed as the difference between sales returns and…

A: The two methods of recognizing revenues and expenses are accrual basis accounting and cash basis…

Q: how to creat a balance sheet using the following information? Balance sheet Given the following…

A: The balance sheet is a summary of permanent accounts prepared at the end of the accounting period.…

Q: Frieden Company's contribution format income statement for last month is shown below: Sales (40,000…

A: The indifference point is when the company neither incurs loss nor profit. It is a point above which…

Q: Evaluate the two alternatives A and B and decide the economic justified alternative using: Present…

A: Investment appraisal is the branch of financial management which deals with evaluating potential…

Q: 1. Compute over- or underapplied overhead. 2a. Which accounts will be affected by the over- or…

A:

Q: ens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XX…

A: The direct labor budget is used to compute the number of work hours required to create the items…

Q: The unadjusted trial balance is prepared

A: The financial statement is the representation of the financial data of the company. It is used by…

Q: What is the balance of inventory and the balance of depreciation of Mikey's bar-and-grill's balance…

A: Balance sheet refers to a statement which provides a brief summary of the company’s Assets, Owner’s…

Q: On the Balance Sheet, what would the Total Current Assets be for Lion Consulting? (Note: I am…

A: Total assets includes both Current assets and Non current assets. Current assets: Current assets are…

Q: Willie Company's retained earnings increased $13,000 during 2014. What was Willie's 2014 net income…

A: 1. Retained Earnings - Retained Earnings is the retained accumulated profit of the company over the…

Q: Here's the scenerio and the template

A: Here discuss about the details of determination of sales price after deducting the discount which…

Q: What about capitalized interest in 2022?

A:

Q: Question 3 BluRay Inc: decided to sell DemandTV Ltd., a subsidiary, on September 30, 2021. There is…

A: The term discontinued operations indicate the division, product, or part of the business the company…

Q: Assume all rent revenues are received in advance and accounted for as unearned rent. Beginning and…

A: A rent collection service is responsible for collecting and pursuing rent from tenants. These…

Q: Liam Byrne borrowed Php 1,500,000 at 3% interest from Erik Torsten on July 1, 2022, the promissory…

A: Lets understand the basics. Interest expense is a expense which is payable on the borrowing. When…

Q: Greene operates a parking lot that yielded net income of $13,000 during the current year.  The only…

A: Net income of $13000  from parking lot is not a capital gain from sale or exchange of capital asset.

Q: Information on Wilbur Company's direct labor costs is as follows: P3.75 Standard direct labor rate…

A: The direct labor efficiency variance indicates that the actual hours are more than the budgeted…

Q: A retail business like Best Buy experiences some loss of inventory due to shoplifting, employee…

A: The inventory difference may occur due to theft, shrinkage, fire, process loss, etc

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: What is the amount received by partially secured creditor?  A. P40,000 B. P60,000 C. P70,000 D.…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Lion Consulting  Adjusted Trial Balance June 30, 2019    Debit Balances Credit Balances Cash…

A: Selling expenses: Selling expenses means costs incurred for marketing, distributing, and selling the…

Q: Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The…

A: Under Lease accounting, future lease payments will have to be present valued using the interest rate…

Q: Statement 1: In converting to accrual basis sales, write-off of Accounts receivable is deducted from…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: 1, 40,000 shares issued $ d share is converted into 2 common shares) ed number of shares authorized,…

A: The answer has been mentioned below.

Q: The following balances were extracted from the books of AL Masa Cleaning Services at 31st December,…

A: The net income or loss is calculated as difference between total revenue and total expenses…