What is the name of the system of accounting for recording transactions, based on recording increases and decreases in accounts so that debits equal credits. Group of answer choices income statement system asset system double-entry accounting system accounting equation system

Q: Identify which category of shareholder's equity is affected by the item and briefly explain how it…

A: Treasury Stock or Securities or reacquired shares or treasury Shares are one which are repurchased…

Q: Any gain or loss on the restatement of non-monetary items is included: In the profit or loss,…

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Q: 2021, a company issued 6% bonds with a maturity value of P40,000, together with 1,000 shares of its…

A: Share premium is amount which is paid in excess of par value of ordinary shares. It is given that…

Q: 30) If no-par stock is issued without a stated value, then A) the par value is automatically S1 per…

A: No par value stock means the shares are issued without having a face value. The investor can…

Q: The amount to be refunded to Mr. Gerry is:

A: Tax refund is paid to the taxpayer when there has been paid by the taxpayer during the year more…

Q: The resources of value owned by a business are called _____________. Group of answer choices…

A: Business means the activity or occupation that is done to earn the revenues.

Q: Annual depreciation on equipment at Charmed, Inc.is $2,100. The adjusting entry to record one…

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Q: n October 1, 2021, a company declared to its shareholders a property dividend in the form of pieces…

A: Introduction:- The following basic information as follows under:- On October 1, 2021, a company…

Q: et Income (in millions) ? ? Weighted Average Shares Outstanding (in millions)     Basic Number…

A: EPS means earnings per share which represents the amount of money received by each shareholders out…

Q: Q2) 2. The price of Al-Saad company's shares is $30 per share, and it plans to pay cash dividends of…

A: A perfect capital market is one where there is no Arbitrage Opportunity. So after the dividend…

Q: ITH THAT ANSWER

A: This question is related to the topic of basics of proof of cash and here there are multiple-choice…

Q: The following information is available for a firm:

A: Answer: 1. $85,000 2. $132,750 3. $119,900 4. $217,750 5. $252,650 6. $96,130 Explanation: 1. The…

Q: The equity section of CFAS Company revealed the following information on December 31, 2022:…

A: Contributed capital is a portion of an organization's total equity. It might be a separate account…

Q: (The following information applies to the questions displayed below.) At the beginning of the year,…

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Q: Sarah G. Company is under court-supervised liquidation due to its insolvency. The court appointed…

A: The estimated recovery percentage of unsecured creditors without priority is calculated by dividing…

Q: A concept of accounting that indicates that the financial records of the business should be kept…

A: In accounting, business is treated as a separate entity from the owner.

Q: Dee and Co. is a small manufacturing company which has prepared the following monthly budgeted…

A: Solution:- 1)Calculation of sales revenue in value required to make a target profit of GH¢ 80,000 as…

Q: EXPLAIN.Which of the following is not done by an auditor when obtaining an understanding of an…

A: Internal controls are the mechanisms and standards that businesses use to protect their sensitive…

Q: what are the top 3 most important sources of revenues, and the top 3 most important sources of…

A: a. sales ( Accounts Receivable) b. interest on temporary investment c. other income ( supplies)

Q: ABC Company acquired 80% of DEF Company prior to 2023. During 2023 the individual companies included…

A: Consolidated financial statements refers to the statements which shows the combination of the value…

Q: Which is FALSE? S1 – All income is taxable. S2 – All exclusions from gross income are exempted.…

A: S1 – All income is taxable.: this statement is incorrect as all income excluding the exempted income…

Q: Erholm Corporation has two operating divisions—an Atlantic Division and a Pacific Division. The…

A: Introduction:- The following basic information as follows under:- Corporation has two operating…

Q: D4

A: Most of the company pays dividends at fixed rate of its earnings each year. this fixed rate of…

Q: C) the board of d. the corporation.

A: Stockholders are the Persons of entities whom the company issues its ownership rights in the form of…

Q: Task 1: Ms. Shafiya is accounting manager of Salalah Cement factory, having Ms. Shafiya wishes to…

A: Bad debt is account receivable for an organisation that has become uncollectible from the customer…

Q: On January 1, 2020, Blue company purchased X company for P25 Million. At such date, X Company had…

A: Answer:-  Definition of meaning:- Goodwill is a kind of an intangible asset generally related with…

Q: Bonneau Corporation declares a cash dividend of $100,000 on July 1 for any shareholder on record on…

A: Dividends are the part or share of profits which is being distributed to the shareholders. It can be…

Q: At the beginning of the reporting period, it has $5 million of share capital and 1.5 million…

A: In order to determine the earning per share, the total earning available to the equity shareholder's…

Q: Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the…

A: Cash payments budget is one of the important budget prepared in business, which shows expected cash…

Q: a the distribution?

A: Given as, Received amount= $3,000, Inventory Partnership basis= $1,800, Land partnership basis=…

Q: On August 1, 2021, Reliable Software began developing a software program to allow individuals to…

A: Introduction:- The following basic information as follows under:- We needs to record development…

Q: On January 1, 2019, Dance Training Co entered its second year of operations. Dance Training Co…

A: The income statement is prepared to record the revenues and expenses of the current period.

Q: What is the name of the accounting concept or principle that determines the amount initially entered…

A: Accounting for an entity is generally governed by various accounting concept that are generally…

Q: ficient Securiti

A: Stakeholders are those who are interested in the company and can influence or be influenced by the…

Q: reate a new company in Microsoft office Accouting

A: STEP.1 OPEN MISCROSOFT OFFICE ACCOUNTING SOFTWARE. STEP2. SELECT START A NEW COMPANY STEP3.A NEW…

Q: explain what happen in this list for pepsi company for year 2019, 2020, 2021 List Of Ratio 2019…

A: The question is related to Turnover Ratio or Activity Ratio. 1. Accounts Receivables Turonver…

Q: ackage upgrade and

A: Given as, Units in process, April 1, 60% complete 60,000Units completed and transferred out…

Q: On December 31, 2020, the statement of fi ollowing data with profit or loss sharing ra Cash…

A: Profit and loss Profit or loss of the company is measured by preparing income statement which shows…

Q: In the course of your audit of the financial statements of Apayao Corp. for the period ended…

A: A Total Deposit in Transit on December 31           Total Deposits in Bank  =637220  + 356080…

Q: dger turo

A: Explanation of Concept Ledger Posting : is the step in the process of preparing the books accounts…

Q: A company estimates that a certain piece of machinery will have to be replaced in five years' time…

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Q: 28.  S1: Fringe benefit that is exempt from fringe benefit tax is likewise exempt from any other…

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Q: Henry and Ana each own 50% interest in a business entity. Henry contributed $200,000 for her…

A: As given the Henry and Ana each have a 50 percent stake in a company. Ana donated Land worth…

Q: Independently considering each of the following statements regarding Form W-2 (Wage and Tax…

A: Answer:-  W-2 form meaning:- A basic tax form that shows an employee's total salary earned and taxes…

Q: B was an industrial partner. The Articles of Partnership required B that every week he will work for…

A: Partnership: It implies to a contractual agreement between two or more parties who agrees or gives…

Q: Antonio Miranda, a former professional golf star, operates Antonio's Pro Shop at Bay Golf Course. At…

A: Perpetual Inventory System: It is the system where continual track of  inventory balances are kept…

Q: When translating the financial statements of an entity from its functional currency to its selected…

A: Translation from the functional currency to the presentation currency (IAS 21) The results and…

Q: The financial statement that contains the balances of the assets, liabilities, and owner’s equity as…

A: Financial Statements comprises of Balance Sheet, Statement of Profit and Loss, etc. These are used…

Q: QUESTION 28 During the year of 2021, Johnson Corporation, an S Corporation has a recognized Built-in…

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Q: Given the following tax structure, what minimum tax would need to be assessed on Shamelka to make…

A: Given the following tax system, we need to compute that what is the least tax that should be imposed…