What is an operating segment, and when can informationabout two operating segments be aggregated?

Q: In 2016, the Marion Company purchased land containing a mineral mine for $1,600,000. Additional cost...

A: 1. 

Q: Ralph Henwood was paid a salary of $83,600 during 20-- by Odesto Company. In addition, during the ye...

A: a. 

Q: Elliott Corp. failed to record accrued salaries for 2019, $2,000; 2020, $2,100; and 2021, $3,900. Wh...

A: Retained earnings: Retained earnings are that portion of profits which are earned by a company but n...

Q: A Type A lease agreement calls for quarterly lease payments of $5,376 over a 10-year lease term, wit...

A: Compute the outstanding balance:

Q: Which of the following is not classified as an accounting change by IFRS? a.    Change in accounting...

A: International Financial Reporting Standard (IFRS): An international standard for identifying, analyz...

Q: Determining the present value of bonds payable and journalizing using the effective-interest amortiz...

A: The presnt value of bond is $ 311580the compnay received $ 311580 as cash.

Q: . The board of directors of Tirico Corp. declared cash dividends of $260,000 during the current year...

A: Cash dividend: The amount of cash provided by a company out of its distributable profits as a return...

Q: What is service cost, and what is the basis of its measurement?

A: Service cost:Actuarial present value of benefit attributed by the pension benefit formula to service...

Q: A small stock dividend decreases common stock. has no effect on total equity. increases Retained Ea...

A: A Stock Dividend is the payment of dividends in the forms of shares of the company. In cash crunch s...

Q: What is the full disclosure principle in accounting? Why has disclosure increased substantially in t...

A: Explain full disclosure principle in accounting.This principle states that all past, present and fut...

Q: The reported net incomes for the first 2 years of Sandra Gustafson Products, Inc., were as follows: ...

A: Following is the statement which will show the effect of rectification of errors on net earnings:

Q: how do i understand in accounting whats to be decreased and whats to be increased?

A: Account: Account is the basic record that reports all changes in the value of particular assets, lia...

Q: Roundtree Manufacturing Co. is preparing its year-end financial statements and is considering the ac...

A: Change in accounting estimate: This change occurs when a change decides to change the estimates base...

Q: Ethics and pricing. Instyle Interior Designs has been requested to prepare a bid to decorate four mo...

A: State whether $600 spent on basketball tickets relevant to the bid decision as commented below: Amou...

Q: State how each of the following items is reflected in thefinancial statements.(a) Change from FIFO t...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Bernson Corporation is using a predetermined overhead rate that was based on estimated total fixed m...

A: The correct answer is $464,120.

Q: If current assets other than cash increase, what is the effect on cash? What about a decrease in cur...

A: Statement of cash flows: It is one of the financial statement that shows the cash and cash equivalen...

Q: Describe the two formats for reporting operating activities on the statement of cash flows.

A: Cash flows from operating activities: These refer to the cash received or cash paid in day-to-day op...

Q: What are the three relevant dates involving cash dividends? Describe each.

A: A dividend is a return received by shareholders of the company. The relevant dates involving cash di...

Q: Splish Inc. has outstanding 11,800 shares of $10 par value common stock. On July 1, 2020, Splish rea...

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: Olga Conrad, a financial writer, noted recently, “Thereare substantial arguments for including earni...

A: Projections: Based on the past and present records any estimation or forecast made are said to be pr...

Q: partial credit,P17-30A (similar to)    Question Help     DivineDivine Construction, Inc. is ...

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: The following information was described in a note of Canon ­Packing Co. “During August, Holland Prod...

A: Disclosures: The additional information which is attached to the entity's financial statements and u...

Q: In recent years, the Wall Street Journal has indicated thatmany companies have changed their account...

A: While preparing the financial statements of company, some genera rules & guidelines have to be f...

Q: Indicate how the following items are recorded in the accounting records in the current year of Coron...

A: The adjustments to be made to the accounting records of Coronet CO for the current year would be bas...

Q: Customer profitability in a manufacturing firm. Mississippi Manufacturing makes a component called B...

A: Customer Profitability Analysis: Customer profitability analysis is the process of ascertaining the ...

Q: For 2015, Pac Co. estimated its two-year equipment warranty costs based on $100 per unit sold in 201...

A: Changes in estimate:When a company revises its previous estimates, the changes in estimates are acco...

Q: Gordon Company started operations on January 1, 2015, and has used the FIFO method of inventory valu...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Describe the usefulness and format of the statement of cash flows.

A: Statement of cash flows:Statement of cash flow is a financial statement that shows the cash and cash...

Q: PARRISH 3-3 POSTING TO SUB LEDGERS Pleae post the following transactions to the appropriate Sub Gene...

A: Prepare sub-general ledgers for the transactions as shown below:

Q: Target prices, target costs, activity-based costing. Snappy Tiles is a small distributor of marble t...

A: 1.Calculate S's operating income for 2016.

Q: What are postretirement benefits other than pensions?

A: Pension fund: A fixed sum of money is receivable in future or after the age of retirement, which the...

Q: Flay Foods has always used the FIFO inventory costing method for both financial reporting and tax pu...

A: 1. Prepare journal entry to record the change in value of inventory value.

Q: Identifying advantages and disadvantages of a corporation Following is a list of advantages and disa...

A:

Q: Describing corporation characteristics Due to recent beef recalls, Southwest Steakhouse is consideri...

A: 1.In this case since B wish to protect his personal assets in the event of liquidation, the advantag...

Q: Bramble Inc. declared a cash dividend of $1.15 per share on its 4 million outstanding shares. The di...

A: Cash dividend: The amount of cash provided by a corporation out of its distributable profits to its ...

Q: prepare closing entry

A: Closing entries are those journal entries which are passed to transfer the balances of temporary acc...

Q: Classifying items on the indirect statement of cash flows Destiny Corporation is preparing its state...

A: Statement of cash flows: It is one of the financial statement that shows the cash and cash equivalen...

Q: Vulcan Company is a monthly depositor whose tax liability for March 20-- is $3,200. 1.  What is the ...

A: 1.The due date for the deposit of the taxes is April 15.

Q: In 2015, S began selling S Company gift cards. During 2015, S sold $4,600,000 of these gift cards. D...

A: A journal entry is prepared by the company to record the non-economic & economic transactions of...

Q: What is the role of an actuary relative to pension plans?What are actuarial assumptions?

A: An actuarial valuation is a kind of evaluation and appraisal of the assets and liabilities of pensio...

Q: What are the major sources of cash (inflows) in a statement of cash flows? What are the major uses (...

A: the major sources of cash (inflows) in a statement of cash flows

Q: Reporting earnings per share Return to the ABC data in Short Exercise S13-12. ABC had 8,000 shares o...

A: Income statement is a financial statement that shows the net income earned or net loss suffered by a...

Q: Palmer Co. is evaluating the appropriate accounting for the following items. 1. Management has deci...

A:  

Q: What approaches have been suggested to overcome the seasonality problem related to interim reporting...

A: Interim report: When the financial results are published for the year shorter than the fiscal year, ...

Q: In a Type A lease, “front loading” of lease expense and lease revenue occurs. What does this mean, a...

A: Lease:An agreement of contract that is made to transfer the right to utlize the resources for a spec...