Which of the following is not the direct benefit of the budgeting process?   Identification of potential bottlenecks or constraints.   Goal congruence between the personal goals of managers and the goals of the organization.   Payments and completion of taxes    Communication throughout the organization.

Q: Select the journal entry that represents a bond issued at 102. Select one: Cash Discount on bond…

A: If Bonds having face value of $ 100 are issued at $ 102, it can be said that bonds have been issued…

Q: How do I make a direct labor budget with this data?

A: Total production requirement for each quarter as calculated previously: Quarter 1 = 1342 units…

Q: an IS O a capital or a venue nature forms part of the subjective test. elect one: True False

A: Accounting concepts/ conventions and principles are the guidelines for taking various accounting…

Q: December 31, 2021 $57.000 Accounts payable $26,125 58,425 Interest payable 4,750 10,640 Bonds…

A: An income statement refers to the financial statement of a company that reflects the income…

Q: A company purchases an asset that costs $30,000. This asset qualifies as 3-year property under MACRS…

A: Tax Saving on Depreciation: The quantity of profits that are used to calculate taxes is decreased…

Q: Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per…

A: The contribution gap is the difference between a product's price and any associated variable…

Q: Which of the following statements about time value of money is not correct?   Present value of…

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

Q: hich of the following transactions would most likely affect shareholders’ equity? Group of answer…

A: The shareholders' equity is recorded in the statement of financial position of the business i.e.…

Q: Problem 1 A P 6, 000.00 was lent at 6% simple interest for 4 years. At the end of 4th year, the…

A: Under simple interest, interest is always calculated on the principal amount. Under compound…

Q: State the equation for computing the total budgeted costs for the Ironing. Department

A: A budgeted cost is a projected future cost that the organization expects to incur. In other words,…

Q: Handheld fiber optic meters with white light polarization interferometry are useful for measuring…

A: Units = 3300 Sale Price = 2025 Variable Cost = 1530 Contribution = 495 per Unit Total Contribution =…

Q: Simplifying the ABC System: TDABC Golding Bank provided the following data about its resources and…

A: Activity-based costing is a costing method in which an organization's activities are identified and…

Q: Engr Riley proposed to expand the efficiency of her equipment. The equipment will have a market…

A: In present worth model we need to calculate present value of all cash flows, if the net present…

Q: P2. Coyote Company uses a flexible budget for manufacturing overhead based on direct labor hours.…

A: A flexible budget represents the budget prepared by the management by analyzing and considering all…

Q: ABC Corp sold goods with a list price of P100,000 on terms of 10%, 3/10, 1/15 n/30. Based on…

A: Under the gross method, the accounts receivables are recognized as listed price less trade discount.…

Q: 17. Which of the following amounts shall not be recognized in profit or loss with respect to…

A: Rental Income from the Investment property shall be recognized in the profit and loss statements as…

Q: ccounting standards for each country differ due to the unique environments that have developed over…

A: It is true that each country has its own set of requirements (including cultural factors) which…

Q: Emporia Hornets Company manufactures and sells one product for $34 per unit. The company maintains…

A: Operating leverage measures the degree to which a project can increase operating income by…

Q: Determining whether an amount is of a capital or a revenue nature forms part of the subjective test.…

A: The capital nature amount means the amount by which the company receives the amount. The capital…

Q: On November 10, 2014, Flash Trucking Services started its operation with its location in Baguio…

A: Journal entries represent recording day-to-day business-related transactions that are in monetary…

Q: An engineering pract

A: All sorts of future cash flows in respect of adding interest on present value are known as future…

Q: 4.  For the proposals accepted for further analysis in part (3), compute the net present value. Use…

A: Proposal B and proposal D are accepted in part 3.

Q: (Capitalisation of super profits). A firm having the assets of $ 5,00,000 and liabilities of $…

A: Goodwill under the capitalization method is the difference between the capitalized value of average…

Q: Transcribed Image Text: You have been hired as a financial manager by Alpha Company which sells…

A: Optimal Level of Saftey The term "optimal stock" refers to the stock level that is the most…

Q: Suppose that when the output is 0, the total cost is 40. However, when the firm produces the first…

A: At 0 unit of production there exists a total cost of 40, which clearly indicates existence of Fixed…

Q: What is the difference between current ratio and quick ratio?

A: Lets understand the basics. Ratio analysis is an analysis which helps to understand the complicated…

Q: Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting…

A: Introduction: "Goodwill" is an accounting term that refers to the difference between a company's…

Q: On September 30, 2021, Bricker Enterprises purchased a machine for $200,000. The estimated service…

A: Sum of years = 10+9+8+7+6+5+4+3+2+1 = 55 Number of years Outstanding = 10 years - 0.25 years(from…

Q: wnership of an apart

A: The balance sheet is prepared as,

Q: Angelus Press is considering replacing all of its old cash registers with new ones. The old…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: an. Sold Private car for a 4000 and bought a nw one for burines from proceed plus f S000. from ofice…

A: Introduction: Journalising is the practice of maintaining financial transactions in the books of…

Q: At the end of an accounting period, a company's liabilities equaled $295,000, and owner's equity…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Q: List the five account categories, specify their natural balance and which financial statement they…

A: Financials statements are prepared for analysis of different operational aspects of business such as…

Q: COMPLETE THE STATEMENT OF CASH FLOWS BY REFERENCING TO THE CELLS.  DETERMINE THE ANSWERS BY…

A: The question is related to  Cash Flow Statement. Cash Flow Statement is summary of cash receipts and…

Q: Case Study: Jack’s Dog Sanctuary Jack’s Dog Sanctuary performs three services: housing and finding…

A: Direct Cost- Direct costs are expenses incurred in the production and maintenance of goods or…

Q: In a manufacturing business, the production budget is prepared immediately after the sales budget.…

A: The budget is prepared to estimate the requirements for the future period. The budgets include sales…

Q: termining whether an amount is of a capital venue nature forms part of the subjective test. lect…

A: All the amounts received or paid, can be of capital nature or revenue nature. It is decided on the…

Q: Which compensation is generally paid currently? Multiple Choice Salary and bonus. Salary and…

A: Answer:- Compensation meaning:- Compensation is usually a monetary payment made to someone on…

Q: 47.ABC Corp had a cash balance of P500,000 in its books at Dec 31. The following are additional…

A: The financial statement means those statements that keep the record of the business activities. All…

Q: . Jackie Chan Leasing signs an equipment lease contract with Chris Tucker on January 1, 2022. The…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Name three different methods of tracking and costing out inventory.

A: Introduction: The term inventory refers to both raw materials used in manufacturing and completed…

Q: 17 I: The primary purpose in preparing pro-forma financial statements is for cash planning.  II:…

A: Statement I is False Pro forma, a Latin term that means “for the sake of form” or “as a matter of…

Q: Shelton Tax Services is considering investing in new software for their corporate tax business. The…

A: A method for assessing whether to invest in a financial instrument is net present value. It is…

Q: Use Al Homer Simpson receives an annual salary of $110-760.00, is paid biweekly, and works 40…

A: Normal wages are paid when the worker work for normal hours during the period. If the worker works…

Q: In the balance sheet, accounts Receivable, where did you get 489,555 from?

A: 489,555 is an error. Correct accounts receivable is 849,555 given in the t account.

Q: On Jan, 1, 20X1 ABC Corp sold equipment with a cost of P20,000,000 and accumulated depreciation of…

A: Gain (loss) on sale of the equipment = Cash received + Present value of the Note - Net book value of…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Lenders and landlords evaluate an individual's gross income to decide if that person is a worthy…

Q: Budgets provide financial objectives to achieve. If actual operations results do not meet the…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Lab Company's targeted ending inventory is ₱250,000. Its forecasted sales is ₱980,000 and has a…

A: Cost of sales = ₱980,000 x 68% = ₱666,400

Q: On July 1, 2021, Soloc Company has 200,000 share of P10 par ordinary share outstanding and the…

A: Reverse Split effect is a measure taken by companies to consolidate it’s shares to fewer shares and…

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.