What is the difference between accounting and business government

Q: If a retailer has revenues of $700,000, cost of goods sold that total $270,000, and operating…

A: The net income or loss is calculated as difference between revenues and expenses for the period.

Q: Question 39 If the selling price per unit is $10, the unit contribution margin is $5, and total…

A: Introduction: Break even units: It tells the sales level where there is no profit nor loss to the…

Q: Wellington Company manufactures custom-designed pens. Previously, the company has been using a…

A: ABC method uses cost drivers to allocate the overhead or general costs that can't be specifically…

Q: Question 6 6.  Mr Bo, a manager at Mamu Papi earns RM10,000 salary per month. He has been working…

A: Income Tax- The federal, state, and local governments levy taxes on the gross income of individuals…

Q: The remaining undepreciated capital investment in year t is called: Select one: O a BVT O b. P OC B…

A: Note: As per the Policy, we’ll answer the first question at a time, since the first question seems…

Q: Division A makes a part that it sells to customers outside of the company. Data concerning this part…

A: Introduction: A transfer value is the sum charged by one division of the a company to another…

Q: Hong 250,000 190,000 #2| 80,000 30,000 3,000 40,000

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.…

Q: What purpose do audits and GAAPs serve in today’s business world?

A: GAAP- GAAP (generally accepted accounting principles) is a set of procedures, standards, and…

Q: Explain certified public accountant (CPA).

A: Accountant refers to the professional who performs the accounting functions like financial statement…

Q: Xavier Chemicals processes resin from fir trees into three products: printing inks, varnishes, and…

A: Lets understand the basics. When in the single process, different type of product get produce then…

Q: Analysis Formula Current assets/ Current liabilities Net sales/ 61,750/8100=7.6 362.000/4120=87.8…

A: Ratio  analysis best to analyse the company and make this seasons as it help to compare to variable…

Q: Given the following balances, what is the most appropriate level of planning materiality for the 30…

A: The auditor will determine the amount that constitutes materiality in the planning phase of the…

Q: in three months' tim RA? Bank pays compar Company pays bar Company pays ba Bank pays compar

A: Requirement: In the given problem Fogtix Co. will required temporary finance of $2m for a period of…

Q: Asset value on Jan 01 is $ 500000, Salvage value after 10 years is 25000. Compute accumulated…

A: Business organizations are required to charge the depreciation expense on their assets so that the…

Q: COST ACCOUNTING - Process Costing Make a table for the solution. Compute for the equivalent…

A: The equivalent units are calculated on the basis of percentage for the completion of the work during…

Q: A firm uses simple exponential smoothing with "a = 0.5" to forecast demand. The forecast for the 1st…

A: Given that, Actual demand = 452 units  Forecast for 1st week of January = 505 units  alphaα = 0.5

Q: In a statement of cash flows, what is included in the operating activities section? In the investing…

A: CFS stands for cash flow statement which refers to the financial statement that states the financial…

Q: You are going to manufacture a product which has the following cost contributors: • $987.65 labor •…

A: Direct expenses +Indirect expenses+ Profit= Sales

Q: You own and manage a small hotel. The annual costs are the following: • electricity, phone, internet…

A: Accounting income means total revenue less total expenses. It only consider cash inflows and out…

Q: stock that originally cost $6.30 per liter. Material U48N is used in the company's main product and…

A: Relevant cost is a term used in managerial accounting to describe avoidable expenses that occur…

Q: Each certified instructor puts in 480 hours per quarter regular time and can work an additional 120…

A: Introduction: Chase strategy: The chase strategy is based on the notion that you will be following…

Q: A company is considering investment of k1,000,000 in a project. The  following are the forecasts,…

A: Year Cash Inflows PVF @10 % Present Value 1 10000 0.9091 9091 2 40000 0.8265 40000 3 60000…

Q: In the consolidated balance sheet, Company P's outstanding common stock may be shown as

A: The common stock is a type of security that provides equity to the stockholder. The common…

Q: for court costs. salary payments are equal amounts paid at rate you choose is an EAR of 11 percent,…

A: Explanation of Concept Concept of discount cash flow for calculating the present value of initial…

Q: Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your…

A: EAR = (1 + i/n)^n - 1 Where i = interest rate per year, n = no of times compounding in 1 year

Q: pos.

A: This statement is also known as Statement of Profit and Loss or Profit and Loss Account. Income…

Q: Which of the following statement is true ?   Answer choices : I. Increase in collection of cash…

A: Inventory- Inventory, like cash, bank deposits, and accounts receivable, is a current asset. The…

Q: A certain machine has a first cost of 30,000; annual costs of 6,000; a salvage value of 4,000 and a…

A: Introduction: Depreciation is the process of allocating the asset's value over its expected or…

Q: Scratch Pad A shareholder has received the following summarised financial results for Scruff Co for…

A: Return on Capital Employed implies how much return has been earned by the firm on its total capital.…

Q: Sean purchased an interest-bearing promissory note for $11,000.00 at 5.00% p.a., due in 90 days. If…

A: The promissory note refers to a debt instrument that is issued by a person who writes a note by…

Q: In a partnership, distinguish between the goodwill and bonus methods

A: Partnership: It is a form of business where two or more persons are joined together to conduct the…

Q: Car.com bought a Toyota for $28,000. The Toyota has a life expectancy of 10 years with a residual…

A: The depreciation expense is charged on the basis of usage of assets by the business. Depreciation…

Q: On March 1, ABC Inc acquired equity securities at the market value of P1,200,000. Broker fees of…

A: If investment in equity shares are accounted using fair value through profit or loss , then…

Q: On April 1, 2022, Deland Manufacturing Company purchased a new equipment for P800,000. The equipment…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: Critical Thinking Exercises 2-6 As a student you have individual experiences with your college or…

A: Introduction: SWOT Analysis: Swot analysis is a method for identifying and evaluating the strengths,…

Q: Corny and Sweet grows and sells sweet corn at its roadside produce stand. The selling price per…

A: Solution:- Given, The selling price per dozen = $4.00 Variable costs = $1.25 per dozen Total fixed…

Q: A construction company wants to build a 50 housing unit apartment complex and rent them. It is…

A: Annual Rent per housing unit=Total cost per housing unit+Margin

Q: Pass the necessary journal entries on the date of purchase, delivery to the lessee, and for the…

A: Assets A/c ..........................................Dr. 2000 Riyals      To Vendor A/c…

Q: Harvest Inc. produces and sells a single product. The selling price of the product is $200.00 per…

A: The contribution margin is a metric that shows how much a company's net sales contribute to fixed…

Q: Which of the following situations is viewed as the parent having treasury stock?   a. A owns 80%…

A: Treasury stock are the portion of shares which is bought back by the issuing company to reducing the…

Q: Problem 27-10. (AICPA Adapted) On January 1, 2020, Domino Company purchased a new machine for…

A: Depreciation: It is the reduction in the value of assets due to to its continuous use. The assets…

Q: 500,000.00 84,800.00 Stockholder's Common S Retained B

A: An income statement is a financial statement that shows a company's revenue and costs. It also shows…

Q: Prepare an amortization schedule for a three-year loan of $102,000. The interest rate is 11 percent…

A: Interest payment is the price paid on the amount of loan.  Principal payment is the amount of loan…

Q: An insurance company is offering a new policy to its customers. Typically, the policy is bought by a…

A: Introduction: A value policy is one in which the amount payable for a dispute is determined upon at…

Q: With respect to the gross up and tax credit procedures applicable to dividends from taxable Canadian…

A: The meaning of the gross dividend is that it is the part of the company's earnings that is paid to…

Q: have retail outlets at both large shopping centres and small plazas. Their accounting information…

A: An accounting information system refers to the form of a base that is utilized by businesses to…

Q: How are current assets distinguished from fixed assets?

A: The balance sheet represents the financial position of the business with assets, liabilities and…

Q: E: Abnormal loss of 2,000 units occurs at the end of the process. In process, beg.. *** Received…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Harvest Inc. produces and sells a single product. The selling price of the product is $200.00 per…

A: Formula: Break even units = Fixed cost / Unit Contribution margin.

Q: 2. For each of the following transactions, place an X in the table to indicate whether direct or…

A: *As per Bartleby policy, if multiple questions are asked then answer first three only. Direct…