What principal will amount to $4500 if invested at 4% quarterly for 5 years? interest compounded a. $3687.95 b. $3903.18 c. $3366.58 d. $3463.04
Q: Direct materials are placed into production at the beginning of the process. All spoilage is normal…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: XYZ Partnership begins the liquidation process with the following balance sheet and profit and loss…
A: Assuming non-cash assets realized to its value Total Cash available = 280000 + 300000 = 580000
Q: Nichols Enterprises has an investment in 31,500 bonds of Elliott Electronics that Nichols accounts…
A: Securities-available-for-sale represents the portion of investment made by the company with the…
Q: g Statement of Cash Flows
A: Cash flow statement shows the cash inflow and cash outflow due to the operating activities,…
Q: On January 1,2020, Carlo and Jamie formed a partnership with investments of P160,000 and P240,000…
A: In partnership, profits and losses from conducting the business are shared by the partners in their…
Q: what is the income tax due if Sandbox is a non-resident foreign corporation? P75,000…
A: Non Resident Foreign Corporation A Non Resident Foreign Corporation is one which does not have any…
Q: Put this transaction on the accounting equation: bought goods for R7000 less 10% discount
A: The accounting equation implies that assets are equal to sum of liabilities and equity.
Q: Q.1.1 For each of the following statements indicate if the statement is true or false. In your…
A: The underlying principles, premises, and circumstances that establish the parameters and…
Q: A firm has an average age of inventory of 100 days, an average collection period of 40 days, and an…
A: The cash conversion cycle is calculated by adding the average age inventory, average collection…
Q: Current Attempt in Progress Nieto Company's budgeted sales and direct materials purchases are as…
A: Cash sales for March = 250000×30% = $75000
Q: Use an Excel Spreadsheet to prepare the Petty Cash Book of Frank's Grocery for the month of May…
A: Petty cash means the cash handed over to some employee to meet the daily needs of petty expenses…
Q: GIVEN: • Taxpayer is a PEZA-registered enterprise Taxable year is 2021 • Financial data Related…
A: hilippine Economic Zone Authority (PEZA) registered entities are given tax incentives such as in the…
Q: Zora is budgeting her available time for the next couple days. She spent 2/5 of her time on…
A: Calculation of aggregate ratio of time consumed on Homework and Internet Aggregate ratio of time…
Q: Allen Inc. took out a 1-year, 8%, $100,000 loan on March 31, 2018. Interest is due upon maturity of…
A: Formula: Interest amount = Loan amount x interest rate x Time period
Q: Prepare the journal entries to record these transactions on the books of Geeslin. Jan. 1…
A: Formula: Net sales = Sales - sales discount where, Sales discount = Sales x discount rate
Q: On January 1, Carlo, Jamie, Roma, and Fe, formed CABLES Trading, a local partnership, with capital…
A: Partnership is an agreement between two or more partners where partners are agreed to work together…
Q: OFIA had investments in equity securities costing P1,000,000 that were classifies as investment in…
A: When Investments are reclassified at fair value through profit and loss which were earlier…
Q: (b) Assume that Sheridan Company received the balance due from Grouper Co. on January 2 of the…
A: 2/10, n/30: Here, 2 represent the discount rate if payment is made within ten days. And if payment…
Q: A company set the total budgeted direct labor cost at P75,000 for the month for producing 5,000…
A: Direct labor efficiency variance = (Actual hours worked × standard rate) - (Standard hours×standard…
Q: The following information was taken from Vaughn Manufacturing’s cash budget for the month of July:…
A: Cash Budget: A cash budget is an estimate of the cash flows that are expected to be generated by an…
Q: Generally accepted government auditing standards (GAGAS) can apply to a: Group of answer choices…
A: Auditing standards are those which are provided by the appropriate organizations for the auditors so…
Q: What is a Balance Sheet
A: A balance sheet's components Asset: Liability: Owner's equity:
Q: A business registered as a barangay micro business enterprise received P400,000 in gross income from…
A: Barangay micro business enterprise received exemption for calculation of gross income.As per…
Q: A business registered as a barangay micro business enterprise received P400,000 in gross income from…
A: As per the Republic Act 9178: Barangay Micro Business Enterprises Act of 2002 the barangay business…
Q: PROBLEM NO 1 Watusi Inc. began operations in January 2021 and reported the following results for…
A: Ordinary shares are shares in a company with individual owners who can vote at company events and…
Q: QUESTION 1-(COMPULSORY) 1(a) Nairobi Ltd…
A: Calculation of depreciation on machinery = 122,000 * 10% = 12,200 Calculation of depreciation on…
Q: Prepare a Sales Budget, Purchases Budget and Forecasted Income Statement for 2022 third quarter of…
A: The production budget and sales budget are prepared to estimate the number of units to be produced…
Q: Paulina, Incorporated, owns 90 percent of Southport Company. On January 1, 2021, Paulina acquires…
A: 1. Determination of gain or loss to be reported in consolidated income statement for 2020 Given that…
Q: On 30 June 2009, M Ltd estimates that it will incur warranty costs of $150 000 in the next financial…
A: Solution Concept Warranty expense and liability The warrantty liability is the…
Q: Discounting a Note Receivable Sonic Inc. received from a customer a $2,400, 9% interest-bearing note…
A: Introduction: A note receivable is a written promise to pay another party a certain sum of money on…
Q: of Retained Earnings,
A: Retained earnings represent the earnings of the company accumulated over a period of time. The…
Q: The Accounting Cycle of a Partnership and sole proprietorship are generally similar EXCEPT for: O…
A: Accounting cycle is the sequence which is used for maintaining the books the accounts.
Q: The standard rate of pay is $12 per direct labor hour, If the actual direct labor payroll was $42336…
A: Lets understand the basics. Direct labor rate variance is a variance between the standard rate at…
Q: Importance of Balance Sheet in understanding Financial statements
A: A balance sheet is a financial statement that details the assets and liabilities of a corporation as…
Q: 4,000,000. The difference is due to rental received in advance. Rental income is taxable when…
A: Explanation of Concept Deferred Tax Assets / Deferred tax Liability : are to be calculated when…
Q: Accounts receivable is the amount payable by the customer to the company for the goods delivered and…
A: Bad debts are considered to be estimated based on 2.5% of total credit sales. Therefore, the bad…
Q: Calculate the following variances (i)Direct material total variances (ii)Direct labor total…
A: Variance analysis is used by the company to answer the various questions regarding about the actual…
Q: Prepare a depreciation schedule for the tax purposes (Annual depreciation and Book value) by…
A: In the Declining Balance method, LN calculates each year's total depreciation by applying a constant…
Q: E12-10 In the EZ Co., the capital balances of the partners are J. Edie $40,000 and K. Zane 30,000.…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: Bonus, as a compensation for good performance, occurs only when there is a favorable partnership…
A: A bonus is a compensation that is above and beyond the normal payment expectations of its recipient.…
Q: The company is a registered VAT Vendor and use a periodic system The following transactions took…
A: Under the Periodic inventory system of accounting, the inventories are not calculated on daily basis…
Q: o. computed a pre-tax financial income of 15,000,000 for the year ended Dec. 31, 201X. In preparing…
A: Explanation of Concept Deferred Tax Assets / Deferred tax Liability : are to be calculated when…
Q: Carlo runs a butcher shop, Carlo Angus MNL, in Manila. Jamie, a close friend who lives in Makati,…
A: Partnership is one of the agreement or arrangement between two or more than two persons, under which…
Q: 3) Misnap is a manufacturing firm. In April, it had a beginning inventory balance in its raw…
A: Lets understand the basics. For calculating raw materials used, we need to use below formula. Raw…
Q: Instructions: Prepare its Journalizing, Posting, Balance & Worksheet PHONE HARDWARE CHART OF…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Time let Freddy runs a business selling clocks. He buys 894 clocks for $44 each (including GST) and…
A: GST Rate in Australia Goods and services tax (GST) is a tax of 10% on most goods, services and other…
Q: Question 3 Working capital management is so critical in the organization. The following…
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…
Q: Choice $3,400 F
A: Answer: The Correct Answer is d.($3,400 U)
Q: Which of the following is NOT true about the statement of financial position of a partnership? O…
A: Partnership means where two or more partners agree to do the business jointly and share profit and…
Q: Blossom Company reported the following information for November and December 2022. November December…
A: Ending inventory is the price of factors handy there at cease of a reporting period. For a company…
[item-9] PLEASE PROVIDE THE CORRECT AND SOLUTION. (kindly provide complete and full solution. i won't like your solution if it is incomplete or not clear enough to read.)
Step by step
Solved in 2 steps
- On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each interest payment will be ________. A. $120,000 B. $60,000 C. $7,500 D. $15,000Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)
- A company issued bonds with a $100,000 face value, a 5-year term, a stated rate of 6%, and a market rate of 7%. Interest is paid annually. What is the amount of interest the bondholders will receive at the end of the year?Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600If a principal of P3840 earns interest of P204 in 3 years and 5 months, what is the simple interest rate in effect? In 2 decimal places in percentA principal of $12, 000 is 3/5th itself invested at \times % interest rate for 5 years. If the same principal was invested for 2 years at an annual compound interest rate of (x+4) %. The interest return amount in dollars equalsO a. $ 4, 147.20 b. $4, 292.30 c. $4,219.80 d. $4,890.4
