Which of the following costs would be included on an income statement for both a merchandising company and a manufacturing company. Group of answer choices operating expenses direct materials direct labor incurred cost of goods manufactured

Q: Determine if the following items can be found on a Balance Sheet, cash flow statement, or a budget.…

A: Cash Budget An projected cash input and outflow over the budgeted time are shown in a cash budget. A…

Q: MAKE A BASIS AND DISCUSSION ON THE SUMMARY OF FINANCIAL RATIOS OF NESTLE. MAKE AN INTERPRETATION AND…

A: Ratio Analysis - Ratio analysis is a tool for assessing and analysing a company's financial…

Q: Huds Incorporated reports the information below on its product. The company uses absorption costing…

A: Introduction: The absorption costing net income, also known as the classic net income, is determined…

Q: determine if it's a tax deductible, tax credit, or neither.

A: TAX DEDUCTION:- It is a provision that reduce the taxable income. An expenses you can Subtracted…

Q: Ramona Company reported the following data. Price per unit = $10 Sales price ➜ Variable cost per…

A: Introduction: Net income: Net income is shown in income statement. Deduction of expenses from…

Q: What is the ICER?

A: ICER is called Incremental Cost-Effectiveness Ratio. The formula for calculating ICER is: ICER =…

Q: According to our authors, explain the concept of “lower-of-cost-or-market.”

A: When a company prepares its financial statement, it reports certain items in the financial statement…

Q: 1 2 5. Lacson invested P100,000 cash in the business 7. Paid P5,000 for office rent for the month…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: Are TJ and the supervisor acting ethically? Why? Is the management acting ethically? Why?

A: The ethics of the company means that everything in the company works according to the policies of…

Q: Instructions Complete this problem as shown. For Question 1, your answer options should be $141,800,…

A: Financial statement means the statement which include the income statement and the balance sheet.…

Q: Required: a. Prepare a Schedule of Expected Cash Collections for January and February b. Prepare a…

A: Given in the question: Month Sales January $2,60,000 February $2,70,000…

Q: Compute for the amount to be received by DEF in the final

A: Cash sales- ABC 4,590,000 Merchandise - DEF 272,250 Cash Sales-ABC 945,000 Less:…

Q: The sum of P35,000 invested on April 16, 2009 amounts to P58,300 on July 16, 2013. At what rate…

A: Compound interest formula  A = P 1 + r41004×nwhere,A = Final AmountP = Principal Amountr = Interest…

Q: i. ii. iii. December 7. Wrote off Wilderness Park Accessories, Inc.'s past-due account as…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Martin Jackson receives an hourly wage rate of $17, with time and a half for all hours worked in…

A: Payroll is the process using which the working hours, and pay rate of the employees of an entity are…

Q: For some of money to double itself in 5 years, what must be the rate of interest converted…

A: Compound Interest FormulaA = P 1 + rnntwhere,A = Final AmountP = Prinicipal Amountr =interest raten…

Q: 2

A: Allowance for doubtful accounts - Allowances is the provision made by the company to uncollectible…

Q: The small firm wants a 1-year fixed-rate loan. A bank's base rate is 6.14 percent. Adjustment for…

A: Interest rate: The interest rate is the percentage of the amount charged on a principal amount by a…

Q: 8. Prepare a post-closing trial balance. (Enter your answers in thousands of dollars.)

A: Post Closing Trial Balance :— List of All Closing Balances of Debit and Credit Balances of Ledger…

Q: January 01 Retained earnings is $ 58980 Net income is $ 56500, dividends declared and paid is $…

A: Introduction: Retained Earnings: Part of profit is retained with the company without distributing to…

Q: 5. 6. is the process of giving employees the authority to make important decisions and to be…

A: 5. ___ is the process of giving employees the authority to make important decisions and to be…

Q: Step 1: You are provided data on costs related to alternative of using neighboring factory off-time…

A: Thre are fwo types of cost in any industry one is the fixed cost and the othwr is the variable cost.…

Q: Sand Inc., a company that produces and sells a single product, has provided its contribution format…

A: Introduction: The contribution margin can be stated either grossly or per unit. It reflects the…

Q: Punch Manufacturing Corporation owns 80 percent of the common shares of Short Retail Stores. The…

A: The basic earnings per share are the per-share earnings attributable to the common shareholders. The…

Q: What is the annual rate of interest being charged on a 3-month note receivable of $51,000 if the…

A: Introduction: A note receivable is a documented promise to pay a set amount of money to another…

Q: Maggie Corp. has a selling price of $25 per unit, variable costs of $11 per unit, and fixed costs of…

A: Contribution per unit = Selling price per unit - Variable costs per unit…

Q: PART 1: Nomad Corporation (a calendar year, accrual basis taxpayer) had the following transactions…

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

Q: Which pair of accounts follows the rules of debit and credit in relation to increases and decreases…

A: The different accounts in business have debit and credit balance.  The assets and expenses have…

Q: MAKE AN INTERPRETATION AND ANALYSIS FOR THIS TABLE BELOW. I WILL UPVOTE. THANK YOU Formula Inventory…

A: Inventory turnover ratio is the one which indicates the number of times an entity has sold its…

Q: ABC, DEF, and GHI formed a joint arrangement to bankroll a series of cultural shows for the…

A: GHI's total share in net income=GHI's bonus+GHI's share in remainder

Q: Page Village sells home, and office furniture. Currently the home product line takes up…

A: Net income is the amount of money earned by an entity from its business. It include all the revenues…

Q: Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $12…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: Problem 1 Bird's Eye Treehouses, Inc., a Kentucky company, has determined that a majority of its…

A: Answer:- Here the NPV is positive and higher, Bird's Eye Treehouses, Inc.,  should be adopted the…

Q: Instructions Chart of Accounts Journal Instructions Gruden Bancorp Inc. purchased a portfolio of…

A: Being purchase of investment =  $25870   ( 990 shares × $26 ) + $130 ( brokerage)

Q: Macaron Corporation is making a $96,400 investment in equipment with a 5-year life. The company uses…

A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear…

Q: 1. Which of the following statement is correct concerning liquidation of a partnership? I. Assets…

A: Types of Liquidation (1) Lump-Sum Liquidation: Under lump-sum liquidation, all the non-cash assets…

Q: The amount of uncollectible accounts at the end of the year is estimated to be $28,500, using the…

A: An allowance for dubious accounts is referred to as a "counter asset" since it reduces the quantity…

Q: If net income is $50,000 and comprehensive income is $60,000, how much was other comprehensive…

A: Net income + other Comprehensive Income or loss =  Comprehensive Income

Q: Al-Can Products, Inc. estimates that it will build 5,000 benches next year. For this amount of…

A: This question asks for the overhead application rate for next year. Overhead Application Rate =…

Q: Davies Corporation's shareholders' equity at the beginning of the year shows the following balances:…

A: A balance sheet is an accounting report that shows a corporation's assets liabilities, and…

Q: i. ii. iii. iv. February 1. Signed a 60-day, 10% note, $5,000.00. R80. April 2. Paid cash for the…

A: General Journal It is the book where the business transactions are recorded at first, to prepare the…

Q: Hall Company sells merchandise with a one-year warranty. In the current year, sales consisted of…

A: Warranty refers to the terms and conditions that are specified in the contract, these terms and…

Q: Suppose Elon Musk Ltd. That produces and sells two products. The X space sells for 5 $ and has a…

A: The Break-even point indicates that total units are to be sold by the business entity to recover its…

Q: 2. Change all of the numbers in the data area of your worksheet so that it looks like this: A…

A: Pre-determined overhead rate refers to the rate of allocation which is used for applying the…

Q: Sales salaries Federal income tax withheld Office salaries Medical insurance withheld Social…

A: Payroll Calculation of payroll expenses which are treated as important part in the accounting in the…

Q: Since about January 2, 2020, Mandan, Emeril, with Fontenot's partnership had the following capital…

A: Partnership refers to the agreement which is formal in nature and two or more person join together…

Q: In how many months will money become three times itself at 9% compounded semiannually? Solution:

A: Future Value = Present Value x (1 + r)^n Rearranging the formula, we get (1 + r)^n = Future Value /…

Q: ABC, DEF and GHI who share earnings 5:3:2, respectively, decided to liquidate their partnership at…

A: The liquidation of a partnership business results is sale of assets and repayment of the liability.…

Q: Machinery Purchased for $ 800000 Accumulated depreciation value is $ 600000 Sold for $400000

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: A company reports the following income statement and balance sheet information for current year: Net…

A: Introduction: Return on Total Assets: It tells the net profit earned on the total assets used by the…