What is the best budgetary system for the Philippines? Justify your Answer.
Q: what is meant by a “limiting budget factor”
A: Solution: Limiting budget factor is a constraint that prevents expanding the budget when prepared.
Q: RM 1.25 each, fully paid. On 2 January 2021,40,000 ordinary shares of RM 1.25 each were offered to t...
A: Issuance of Shares For issuing the shares to the public which has different phase like invite share ...
Q: Dipolog Rice Mill Trial Balance Account Titles Debit (P) Credit (P) Cash in Bank 76,200 Petty Cash F...
A: The financial statements are prepared by the business entity to show the performance of the business...
Q: Understanding of accounting and its importance
A: Accounting is the process of recording, analyzing and summarizing the financial statement . It is ve...
Q: National Co. make these assumptions for valuation purposes: a. The firm consists of a single asset ...
A: CASH FLOWS TO FIRM 3000000 LESS - INTEREST EXPENSE (40000000*7%) 2800000 200000 LESS : ...
Q: late their pr er an insura
A: The probability of getting sick is 0.05-0.03x The private cost of effort is ce=10e∧2
Q: Royal Enterprises has presented the following information for your analysis. Selling price per unit ...
A: In the process of production of goods, the costs involved are an important factor in the determinati...
Q: ad and P900,000 for fixed overhead. a. What is the predetermined overhead rate base on units of prod...
A: * As per Bartleby policy, in case question have multiple subparts then answer first three only. a)...
Q: The Rink offers annual $400 memberships that entitle members to unlimited use of ice-skating facilit...
A: Transaction price is the amount paid as consideration for the goods exchanged.
Q: In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of ...
A: The question is based on the concept of Financial Accounting.
Q: On December 31, 2021, LJK Co. classified its building with a historical cost of P1,700,000 and accum...
A: Impairment Loss on Held for sale Non current Assets According to PFRS 5 there are some rules and reg...
Q: Widgets & Gadgets in a merchandiser that sells gadgets and widgets. They had the following transacti...
A: While performing the purchase and sale of products, there will be discounts allowed or received. The...
Q: Problem 20-6 (IAA) On January 1, 2021, Portugal Company purchased bonds with face amount of P8,000,0...
A: As per Effective interest method, the interest is calculated on the carrying value of the bond rathe...
Q: Richard runs a small coffee stand offering standard coffee (with or without milk) during the morning...
A: Solution Selling price is the amount that the customer will pay to buy a product.
Q: AA, BB and CC are partners with average capital balances during 20xx of P472,500, P238,650 and P162,...
A: AA BB CC Interest on Partners' Capital 47,250 23,865 16,235 Partne...
Q: CASE C During the period, the business acquires an equipment costing ₱300,000 in cash. The businesss...
A: Other Comprehensive income is the part of the income statement that shows the changes of specific it...
Q: Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Que...
A: The variance is computed as difference between actual data and budgeted production data of the busin...
Q: Beginning inventor: 100 units @P1.50 purchases: Jan 24 – 330 units@P1.56 Jun 11-15...
A: Solution Fifo method is used for cost flow assumption purposes in the cogs calculation. this assume ...
Q: ,pppPeter operates a dental office in his home. The office occupies 250 square feet of his residence...
A: The cost of operations incurred by a firm in order to earn revenue is referred to as its expenditure...
Q: Black and Blue formed a partnership, agreeing to share profits equally. After closing entries, the b...
A: Partnership refers to the form of business under which the two or more persons are agreed to start t...
Q: Common stock-$10 par value, 130,e00 shares authorized, 50,e00 shares issued and outstanding Paid-in ...
A: Date Account Titles Debit Credit Jan'2 Treasury Stock $ 115,000 Cash $ 115...
Q: Mr. Allen is a 65-year-old Jamaican tax resident. He is the director of a hotel, Allen’s Rest Well ...
A: 1 ) Jamaican Tax Resident PEOPLE WITH MORE THAN OR EQUAL TO 65 YEARS OLD ARE GIVEN AN EXEMPTION ON ...
Q: Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near ...
A: Lets understand the basics. For calculating activity variance, budgeted cost for decided activity is...
Q: On January 1,2020, ABC Company leased its equipment to DEF Company under a 3 year operating lease at...
A: Lease rent include all fixed rent ,bouns and additional rent. Following is the ABC Company's rent re...
Q: 5. AA, BB and CC are partners with average capital balances during 20xx of P472,500, P238,650 and P1...
A: AA BB CC Interest on Partners' Capital (P 472,500 X 10%) 47,250 (P...
Q: John Doe, a 23-year young newly graduated engineer just got a job in a major engineering firm. Human...
A: In this question, we will find out inflation rate and rate of return and all calculation due to Apri...
Q: dn Bhd did not keep his books of accounts under double entry system. Depreciation on urrent asset is...
A: Answer to vii) Statement of Profit and Loss for the year ended 31 Dec, 2021. To Opening...
Q: At the end of 2020, Crown Point Corp. has accounts receivable of $479,200 and an allowance for doubt...
A: Uncollectible receivables are the amount which is not paid by the customer or which is not recovered...
Q: s as: Inflow or Outflow. If neither, indicate Not Applicable. Particulars Amount Classificat...
A: outflow is is the decrease of cash. inflow is increase in the cash balance. when there is purchase t...
Q: Golf Corporation estimates that its production for the coming year will be 25,000 units, which is 90...
A: The predetermined overhead rate can be calculated by dividing the total estimated overhead by differ...
Q: Congratulations on your appointment as a Tax Trainee at a recognized audit firm in Jamaica. On your...
A: In the given problem, the original value or cost and TWDV or tax written down value is given for the...
Q: Greenwood Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. ...
A: Activity rate per machining cost pool =Total Estimated machining setup cost/Expected Activity = $15...
Q: Ballesteros is retiring from the partnership and the partners have agreed that "other assets" should...
A: As we can see, no information is given how Abellana and Cabias acquire Ballesteros's profit share af...
Q: Exercise Partnership is insolvent but partners are personally solvent. Wayne, Wendell and Wesley are...
A: Terms of liquidation, order of priority, and liabilities at the time of liquidation are generally pr...
Q: market value The annual ope d will increas
A: Given, MARR = 10% per year
Q: Which of the following would NOT be included in the acquisition cost?
A: The acquistion cost is the total cost incurred in the acuistion of asset/asset...
Q: On the first day of the fiscal year, a company iss
A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value o...
Q: NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a dep...
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....
Q: What is the best budgetory system in South-east Asia? Please justify your answer.
A: A budget is a projection of revenue and expenses for a certain future period that is usually develop...
Q: David James is a cost accountant and business analyst for Doorknob Design Company (DDC), which manuf...
A:
Q: EXAM LOSS ACCOUNT WIT
A: In this question, we have to make trading and profit and loss account and balance sheet. The sharing...
Q: emopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest...
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: The GA-42334 company uses direct labor cost as its allocation base for its predetermined overhead ra...
A: Work in Process inventory: Work in process is the term used to depict, to some degree, finished merc...
Q: Helen buys a universal life policy with $250,000 of coverage. Nineteen years after purchasing the po...
A: Life insurance policies are the one which insures the life of an individual and their family if the ...
Q: WHICH STATEMENT IS FALSE? A. If the net income of prior period is overstated because of the change i...
A: The correct answer for the above mentioned question is given in the following steps for your referen...
Q: Presented below is the condensed balance sheet of the partnership of Aballa, Baligod, and Cabasag wh...
A: ANSWER The Sacrifice is the ratio When existing partners give their Shares to new partner in a sp...
Q: Problem 11 (Break-even Point and Degree of Leverage) Silver Yummy Burgers, Inc., sells food to Unive...
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: State your agreement/disagreement and explain your answer: A taxpayer who intends to challenge an IR...
A: A person or an entity (such as a corporation) that is compelled to pay a tax is known as a taxpayer....
Q: Prepare the reconciliations between segment information and amount shown in the entity's financial s...
A: Segment reporting is one of the important concept used in financial reporting. Under this, some segm...
Q: Last year the issued share capital of M Bhd was RM 75,000 divided into 60,000 shares of RM 1.25 each...
A: If the company receives share application more than the shares issued to the public, it is the case ...
What is the best budgetary system for the Philippines? Justify your Answer.
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- what is the reason of budgetary reforms in Malaysia?What does a successful budget look like for a developing country?Using the Zambian Budget process as an example, discuss the various methods of public budgeting such as line item, zero-based, PPBS, performance and capital expenditure budgeting and present the challenges that Zambia faces.
- Discuss the three prerequisites for the budget preparations in Zambia?analyse the methods of budgeting that are at the disposal of the public finance office bears in South Africa, including the benefits and pitfalls of each methodLook at Malaysia’s 2022 budget statement and identify the different functions mentioned above •Allocative •Stabilisation •Distributive
- Budgeting is the process of making the budgets for any corporation, country, or entity. In a developing country like Ghana, the government budget is the principal instrument for mobilizing the required sources of funds. The Ministry of Finance introduced Programme Based Budgeting in 2010 for improvement in the budgeting practices. Different financial programmes like the Public Financial Management Reform Program and Public Expenditure Management System were introduced in Ghana. Step 3 Public Financial Management Reform Program (PUFMARP) and Public Expenditure Management System (BPM): These programs were introduced by the Ministry of Finance in Ghana. These ensure system-based payment and budget control on all the transactions of public funds. These can lead to improvements in the financial and internal control system by modifying payments, accounting, and reconciliation, and reporting procedures. Role of programs in Ghana: Help in implementation of program-based budgeting. Help in…Explain the differences of two: Domestic Capital Budgeting and Multinational Capital BudgetingRecommend policies that will boost Ghana’s fiscal performance and position.
- What factors Influence the spending behavior of the different sectors of the economy? How do behavior changes in these sectors influence the level of output and income in the overall economy? Can policy makers ("FED", Congress) maintain stable prices, full employment and sustainable,Capital budgeting for a foreign project is considerably more complex than the domestic case. Discuss FIVE major factors contribute to this greater complexities.Suppose the Australian government has announced tax cuts for the business sector. Using the loanable funds model, explain how this will impact the supply of and demand for loanable funds and the interest rate in Australia.
