What should be in the credit file

Q: Branch No. 1 should a. not be dropped due to foregone over-all income of P 350,000. b. be dropped…

A: In this case all the fixed costs are avoidable by closing down the branch except a salary cost of…

Q: Answer the following questions for the directors: True or false, does the statement of cash flows…

A: Statement of Cash Flows is a Financial Statement which provides data about the movement of cash of a…

Q: the following items is classified as PPE?  a. Land being sold in the ordinary course of business…

A: Plant Property and Equipment (PPE) are long term  tangible assets that are held for future use in…

Q: 1. Jets Corp. had 200,000 shares of common stock outstanding on January 1, issued 400,000 shares on…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as…

A: The key transactions incurred during the period are: i) On 01.07.X3 the last year closing balance of…

Q: Squabb Corporation issued a $12,000,000, 5-year bond, with a contract rate of 8%. The market rate of…

A: The bonds are the financial instruments for the business which are used to raise money from the…

Q: Generally, the dissolution spares the partners from previous obligations entered into by the…

A: Dissolution of partnership means closing the business. there can be many reasons for dissolution of…

Q: This question is based on t he following information: B Hon Company purchases thermostats and use…

A: Note: The 2nd question doesn't seems to be part of the database mentioned above. I request you to…

Q: 2001 for a value of $75,000. If the Company had barrowed money from the bank it w outd 8%. What is…

A: In the given case, the company has purchased the crane on 1st January 1997 for 75,000 payable on…

Q: Provide all required journal entries needed on: 1.30 June 2022; 2. 30 June 2023; 3. 30 June 2024.

A: Answer:

Q: PRACTICE WHAT YOU KNUW Using the 2019 marginal tax rates provided in the tabe below, fnd the…

A: Federal tax is calculated as per the schedule given by IRS.  Average rate of tax means the effective…

Q: Basic Variance Analysis, Revision of Standards, Journal Entries Petrillo Company produces engine…

A: GIVEN     Petrillo Company produces engine parts for large motors. The company uses a standard cost…

Q: Aqua Life Jackets, Inc. has three product lines as shown below. The company is considering whether…

A: Before determining the segment which is required to be dropped off let's know some   1.…

Q: Q1 (a) Imagine a signalling model where there are two types of workers, low productivity workers…

A: Introduction:- The term "equilibrium" refers to a scenario in which market supply and demand are…

Q: Assume you buy 100 shares of stock at $40 per share on margin (40 percent). If the price rises to…

A: If the price declines to $28, then the market value of the securities will be $2,800 (100 shares x…

Q: Prepare the JOURNAL ENTRY to record the transactions of DALISAY Tailoring Shop for the month of…

A: A Journal is a book in which business transactions are recorded in the order in which they occur,…

Q: An investment in Machinery will yield annual cash earnings of P 12,000. The investment can be…

A: Annual net income of the investment = annual cash earnings - Annual depreciation where, Annual…

Q: Describe the triple bottom line of sustainability and describe the relationship between each of the…

A: Sustainability: Natural resource sustainability refers to the capacity to live and flourish without…

Q: atement correctly describes a feature of a charitable split-interest trust?   A)A grantor who…

A: Charitable split-interest trust refers to the form of trust that has the characteristics of both…

Q: Netsol Communication purchased equipment on January 1, 2018, for $27,500. Suppose Netsol…

A: Formula: Ending book value = Beginning book value - Accumulated  depreciation.

Q: The cash cycle is longer than the operating cycle when   Select one:   a.   Inventory period…

A: The cash conversion cycle (CCC) is a metric that expresses the length of time (in days) that it…

Q: Which of the following does describe intangible assets? a. They are not lack physical existence.…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Sales P 250,000 190,000 P 60,000 82,000 (P 22,000) Cost of sales Gross profit Expenses Net income P…

A: product elimination in such a decision that is taken in order to drop a product from portfolia…

Q: The Chowning Company manufactures ear buds that sell for $20 a pair. The variable cost of each set…

A: Formula: Total cost = variable cost + fixed cost

Q: avy Johnson is CFO for a newly formed manufacturing company.  Below is the anticipated monthly…

A: The budget is prepared to record the requirements for the future period and estimate the expenses…

Q: David has a contract to buy 900 metres of cloth each month for $7 per month. From each 3 meters of…

A: Obligation refers to the act of fulfillment of an unconditional responsibility. This responsibility…

Q: How much is the total income tax expense recorded for the year ended December 31, 2019? a. P246,000…

A: Income tax expense is calculated on taxable income

Q: Which of the following statements regarding valuation discounts is CORRECT? The blockage interest…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: The least effective means for the auditor to determine whether a recorded intangible asset possesses…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Date Blankets Units Cost May 3 Purchase $15 10 Sale 17 Purchase 12 $18 20 Sale 23 Sale s23 30…

A:

Q: 8 km/h. The rated operating width of the machine is 2 m. The annual utilisation of the combine is A…

A: The cost volume profit analysis is a costing method that helps in analyzing the impact of various…

Q: Advantages  of Social media and its effect on individual life as well as businesses

A: Advantage of social media and its effect on individual life as well as business

Q: The Aseel Co. produces 3 products, A, B and C. All are made from the same materials. The company…

A:

Q: Statement 1: The cost of an asset, or other amount substituted for cost, less its residual value is…

A: An asset can only be depreciated up to the level of residual value. When it reaches the residual…

Q: Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions,…

A: Charity - Charitable Contributions ( up to 60% of AGI)    Paid (by cash/check or charged on credit…

Q: As expert, re-write the above description correcetly.

A: Inventory is the goods which the company is having and which the company has held in order to sell…

Q: Davis has decided to retire from the partnership of Davis, Eiser, and Foreman. The partnership will…

A: The retirement of partner is a condition of partnership where one partner leaves the partnership for…

Q: Wooden Grain Co. has organized a new division to manufacture and sell specially designed tables for…

A:

Q: P-4***On July 1,2011, SUNSHINE Company issued P2,000,000, 10% bonds, which mature in five years. The…

A: Please see Step 2 for required information.

Q: On July 1. 2022. Damlen Jurado Company pays $12.000 to its insurance company for a 2-year Insurance…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Jones Company had net income of $10,000 for the year. Beginning total assets were $150,000 and…

A: The ratio analysis helps to analyse the financial statements of the business for different elements…

Q: How much is the total current liabilities?

A: Current liabilities are the liabilities which the company have which requires to be repaid by the…

Q: Statement 1: The cost of an asset, or other amount substituted for cost, less its residual value is…

A: An asset is depreciable till the level of residual value only. When the WDV of an assets comes to…

Q: The least effective means for the auditor to determine whether a recorded intangible asset possesses…

A: Intangible assets Intangible assets are those assets that do not exist in physical form. These…

Q: ASSETS EQUITIES P 500,000 1,500,000 Current assets Current liabilities P 200,000 Long-term…

A: Return on Current Assets = 7% Return on Fixed Assets = 16% Cost of Current liabilities = 2% Cost of…

Q: appropriation account and the current account for

A: Paul and Carl are partner sharing profit in their capital ratio i e 4 : 1 In trial balance Capital…

Q: Using the following Data for this requirement:  Note:  Use the provided Assumed Overhead rates.  Do…

A: Purchasing activity overhead are calculated based on the purchase order under activity based costing…

Q: The normal spoilage is 3 per cent of the units inspected. PLease answer from part (iv) onwards.…

A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: Identify and describe the three types of product costs in a manufacturing               firm.

A: Product cost involves the cost of making a product. These prices include direct labor, direct…

Q: 1- The company yearly profit 2- Use goal seek to find the following a. At what PRODUCT B demand both…

A: As per our protocol and guidelines we provide solution to one question only but as you have asked…