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Q: Required: Prepare the relevant journal entries for the year 2021 and 2022
A: Lanier Corporation has acquired Plant and Machinery and is following revaluation model of measuremen...
Q: PinishNa Inc. has determined the following information related to operations for 2025: Revenue from...
A: The lower amount of Depreciation is charged in 2024 is just an error which can be solved by showing ...
Q: Elaine, James, and Jeremy form Forest Corporation by transferring the following items to the corpora...
A: ANSWER General Rule under sec 351(a) : No gain or lossshall be recognized if the property is trans...
Q: 8-4 A paper mill is considering two types of pollution control equipment. A Neutralization Precipita...
A: Present value is the value of an investment or amount at the future date for the interest rate provi...
Q: A product is sold at $12 per unit, the unit contribution margin is $7, and total fixed expenses are ...
A: Break even sales = Total fixed expenses/Contribution margin per unit
Q: Gon and Killua formed a partnership on January 1, 2019 with Gon contributing 16,000 while Killua con...
A: Capital contribution of Killua = Fair of assets contributed = 4,800 + 3,200 = 8,000
Q: On 1 January 2016, PT ABC paid Rp 2 million for 30% shares of PT Willow. Accumulated loss of PT Will...
A: Answer: In the books of PT ABC, Rp 17 million will be shown as investment in PT Willo for the year e...
Q: Matthew's Fish Fry has a monthly target operating income of $6600. Variable expenses are 80% of sale...
A: Target operating income = $6600 Fixed expenses = $840 Target Contribution margin = $7440 Target sale...
Q: 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage incr...
A: Horizontal analysis is used to compare the financial statement with the previous year. It helps mana...
Q: The Acme Manufacturing Company is concerned about its warehouse needs and how they can best be met. ...
A: Using only a public warehouse Month Sales(S) WarehouseThroughput(T= S / Density) Monthly handling...
Q: 1)Claire wants to start her own dog treat business. She can purchase a suitable factory for $250,000...
A: Implicit costs are those costs which a person could earn by choosing another option. It is same as o...
Q: a. The cost of completed and transferred out units in Mixing department is? b. The cost of Work in...
A: Equivalent units of products concept came in to existence when some units are not fully completed at...
Q: On November 1, 2021 Martinez Home Remodeling enters into a contract to "finish" a customer's baseme...
A: In the given case the project includes finishing the customer basement which includes all the activi...
Q: Date Debit Credit Balance Jan. 1 Balance 158,100 July 31 Purchase of equipment 70,300 228,400 Sept. ...
A: The cash flow statement is prepared to record the cash flow from various activities during the perio...
Q: ne revenue recognition principle (point of sale).
A: There are two bases of Accounting (1) Cash bases Accounting System (2) Accrual bases Accounting Syst...
Q: Middler Corporation, a manufacturer of electronics and communications systems, allocates Computing a...
A: Solution:- a)Determination of the service allocation rate for the four CCS service categories for Oc...
Q: What is your introspection on how Equity & Debt Financing impacts one's view?
A: Debt Financing :Debt financing involves borrowing funds from investors by issuing corporate bonds.Th...
Q: employees as to taxability
A: Correct Answer is :- C Corporate earner Employees.
Q: Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manuf...
A: Turnover = Sales / Average operating assets Margin = Net income / sales
Q: A recent annual report for Wilmington, Inc. contained the following information: Retained earnings ...
A: Number of shares issued at the end of the current year = Common Stock account totaled at the end of ...
Q: Monument Company (a U.S.-based company) ordered a machine costing €200,000 from a foreign supplier o...
A: Forward contract fair value hedge of foreign currency firm commitment. The machinery should be capit...
Q: arket's Risk premium measures Select one: a. The market return plus the risk free rate. b. The ris...
A: The market risk premium represents the market participants demand extra return by increasing the ris...
Q: The Jonathan Corp. acquires a machine with an original cost of $9000 on January 1, 2016. The machine...
A: Sum-of-years = 1+2+3+4+5 = 15 years Depreciation rate under Diminishing-balance = 1 /life of assets ...
Q: Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finan...
A: Solution:- a)Calculation of amount financed as follows:- =Purchase price - Down payment =$2,600 - $0...
Q: The management of Wyoming Corporation is considering the purchase of a new machine costing $375,000....
A: Average rate of return = Average profit / Initial investment where, Average profit = Total profit / ...
Q: terpretation of Account
A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the r...
Q: ) Classify each cost element as either fixed, variable, or mixed b) Calculate: i) the variable prod...
A: Solution Answer for part a) and part b) i) and ii) is given Concept The formula for high low method...
Q: How is a departmental contribution to overhead an effective tool in assessing each department's perf...
A: The Departmental Contribution is the difference between Department Revenue and the direct Expesnes. ...
Q: Presented below is information related to equipment owned by Coronado Company at December 31, 2020. ...
A: Recovery of impairment loss = Fair value on December 31, 2021 - Fair value on December 31, 2020 = $...
Q: Osprey Company has working capital in the amount of $1,300,000. For each of the following transactio...
A: The amount of money a firm utilizes in its day-to-day trade operations is referred to as working cap...
Q: ABC Corporation Asset Acquisition Data December 31, 2020 Asset Acquisition Data 1. Vehicle for $ 86,...
A: 1. Depreciation Expenses - Depreciation Expenses are the expense incurred on the wear and tear of th...
Q: Sky High Seats manufactures seats for airplanes. The company has the capacity to produce 100,000 sea...
A: Increase (decrease) in operating income = (Sale price per unit for special order - Variable Manufact...
Q: What is the main principle of tax-effect accounting as outlined in AASB 112/IAS 12?
A: “Since you have asked multiple question, we will solve the first question for you. If you want any s...
Q: A manufacturing company's budgeted income statement includes the following data: Data extracted fr...
A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash bal...
Q: On January 2021, Mercury Corporation is engaged in the sale of goods and services with net sales and...
A: Income tax is used to fund government services, pay debts, and give commodities to citizens. Persona...
Q: Creative Computing sells a laptop computer called the Creative Package to Professor Smith with an ex...
A: The performance obligation is the promise made by the parties when they are entered into the contrac...
Q: a. Compute the current ratio and operating cash flow to current liability ratios for each year. Veri...
A: Current ratio = Current assets / Current liabilities OCFCL = Net cash flow from operating activities...
Q: Sale of an capital assets is subject to
A: Option a is wrong because regular income tax is applied in case of income from salary, business or o...
Q: When companies consider outsourcing a product, fixed costs are always irrelevant. Question 31 opti...
A: Fixed cost is the cost that does not change with the change in the output of the company. The compan...
Q: Janitorial Department Cafeteria Department Cutting Department Assembly Department Department costs $...
A: Solution: Janitorial Cafeteria Cutting Assembly Support department costs 310000 200000 ...
Q: McElroy Inc., a marketing consulting firm, entered into the following three revenue contracts in Mar...
A:
Q: oker Company manufactures three types of televisions: Model A, B and C. The company uses the activit...
A: ABC distributes manufacturing overhead expenses to goods in a more rational manner than the old meth...
Q: Preston Company sells candy wholesale, primarily to vending machine operators. Terms of sales on acc...
A: Cash journal shows the transactions that includes cash receipt and cash payment by the company.
Q: Accounting i
A: Option a is wrong because the statement is true. Accounting is used for reporting purpose to both in...
Q: Walton Airline Company is considering expanding its territory. The company has the opportunity to pu...
A: Solution a.1: Payback period (first plane) = Initial cost / Annual cash flows = 13500000 / 5400000 =...
Q: An 8-year project is estimated to cost $496,000 and have no residual value. If the straight-line dep...
A: Average investment = (Beginning investment + Ending investment)/2
Q: De Luna Bhd Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 20...
A: The statement of cash flows is an important financial document that depicts all of the business's ca...
Q: BK Corporation has a value of operations equal to P2,100, short-term investments of P100, debt of P...
A: Outstanding shares means the stock of the business which is held presently through its shareholders,...
Q: Briefly explain the ten cost drivers in a company.
A: The question is related to the Activity Based Costing. The Cost driver is a facor that causes a chan...
Q: Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share ca...
A: Cumulative preference share holders enjoy the right to claim any unpaid dividend from the previous y...
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- Why is it important to consider workforce capability and capacity in designing and sustaining high performance work systems?what is technology in your own words?discuss the difference between internal and external users of information and their needs and demands on an information system. historically, which type of user has the firm catered to most?
- Why are accountants regarded as system users in the systems development process if they are seen as information providers?qution? yes or No ( )The interaction between information technology and organization is complex and influenced by many mediating factors, including organization structure, business processes, politics, culture, surrounding environment, and management decisionsHow does organizational dissonance influence ethical leadership and decision making?