Which should be recorded in accounts receivable? a. receivables from officers b. receivables from subsidiaries.  c. dividends receivable d. sales on account

Q: M purchased a small lot in a subdivision, paying P200, 000 down and promising to pay P15, 000 every ...

A: note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-part...

Q: Equivalent Units of Production The Converting Department of Worley Company had 720 units in work in ...

A: Worley Company Number of Equivalent Units of Production   Whole units Direct materials Equival...

Q: The following information is from XYZ Triple Stores. The company runs three stores and the December ...

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Q: On July 31, 2018, Hummbug Corporation issued $100,000, 5%, 20-year bonds for $113,678 when the marke...

A: >Bonds Payable are the source of finance for the companies.   >The bondholders are entit...

Q: Cullumber Corporation had the following 2020 income statement. Sales revenue   $213,000 Cost of go...

A: Under direct method of cash flow statement, cash receipts and cash expenses are directly considered ...

Q: Practice Exercises - Restricted Stock Studymore Company issues 4,400 shares of restricted stock to i...

A: The journal entries to record the restricted stock and the entry to account for the forfeiture of th...

Q: French Confection, Inc., allocates overhead using direct labor hours as the allocation activity. The...

A: Predetermined overhead rate = Estimated manufacturing overhead/Estimated direct labor hours Overhead...

Q: The term to describe taxable income before the qualified business income deduction and less dividend...

A: Lets understand the basics. Qualified business income is an income on which qualified business incom...

Q: The Wilson Motel has two major operated departments: rooms and food. The following information is su...

A: Summary Income statement is a statement used to provide a detailed summary report of all the incomes...

Q: Your answer is partially correct. Buffalo Corporation had the following 2020 income statement. Reve...

A: The question is related to Cash Flow Statement. The Cash Flow Statement is summary of Cash Receipts ...

Q: a.) At what amount should the asset be recorded on January 1,2020? b.) Prepare an amortization table...

A: Shirley Corporation leased a machinery from Jeol Company for  5 year lease term at annual rent payme...

Q: 1. Working paper documentation includes the auditors’ conclusion about ______ and the basis for thei...

A: Answer: As per Q/A guideline, first question has been answered. Please repost remaining questions. W...

Q: 2- Amina borrowed 60,000 SR on January 1, 2020, from the local bank to expand its bui The funds were...

A: When bond trades or the market price of the bond is below $1000 or par value it is called a discount...

Q: Information about the ending inventories of Charleston Chair Company, who applies the LIFO method, i...

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

Q: Macrosoft Company reports net income of $73,000. The accounting records reveal depreciation expense ...

A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains th...

Q: Teal Corporation sold 160 convertible, 10-year bonds at par for $160,000. Each bond pays 4% annual i...

A: Bond Accounting refers to the recording of bond related transactions i.e. issuance of bonds at par, ...

Q: If a company decreases the variable expense per unit while increasing the total fixed expenses, the ...

A: Breakeven Point: The breakeven point is the level of creation at which the costs of creation are com...

Q: Current Designs faces a number of important decisions that require incremental analysis. One of Curr...

A: Lets understand the basics. When there is alternative between make or buy product then management al...

Q: Which of the following is not a characteristic of a financial asset held for trading? a. It is acqui...

A: Trading in financial instrument include assets such as stocks bonds mutual fund. the financial asset...

Q: itor considers the choice of the plan to be extremely important. Consequently, the auditor has asked...

A: In the above question, it is given that : Employers must provide medical insurance at "fair, non-pr...

Q: At the beginning of 2009, a company purchased a fire insurance policy covering a property for a peri...

A: The prepaid expenses are the expenses paid but not due for payment. 

Q: I. THE ACCOUNTING EQUATION COMPUTE THE MISSING AMOUNT CASE 1 CASE 2 CASE 3 CASE 4 CASE 5 CASE 6 CASE...

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

Q: QUESTION 2 Twisted Pretzel, Inc. had beginning Work-in-Process Inventory (WIP) of $10,000 and makes ...

A: >Total manufacturing cost is the cost of direct material used, direct labor cost and manufacturin...

Q: The subtotals of the Income Statement columns of the work sheet are Debit Column: $5,500 and Credit ...

A:

Q: The Company owns a vehicle of $10,000 since 1.1.2008. The Company uses straight line method to depre...

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Q: Problem 44. The statement of financial position of ART Inc. before translation to hyperinflationary ...

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Q: Söle Proprietors For partnership, and any deficiency shall be paid in cash. Gabriel and Lucifer deci...

A: When two or more persons join together to run any business activity, such joining is known as partne...

Q: If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending b...

A: Lets understand the basics. For calculating beginning balance, we need to use below formula. Account...

Q: Explain what is the risk component of financial assets.

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Q: On April 2, 2020, shortly after the $7.5 million deposit outflow, Key Bank had borrowed the needed f...

A: Introduction: A balance sheet is a summary of a company's financial situation based on specific info...

Q: On January 1, 2016, A company issued 100,000 cumulative preferred shares with a stated dividend of $...

A: Share warrant signifies the holder of such financial instrument the right to buy or purchase a speci...

Q: Using the data in the following table, how much bond amortization was recorded for the 4th interest ...

A: Lets understand the basics. When bond is issued at premium then premium needs to amortized either th...

Q: anuary outstanding shares for P648,000. P30,000 of the and the balance to an equipment with an econo...

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Q: Date of the Note Term of the Note Maturity Date 1. February 10, 2022 2. May 19, 2021 3. July 5, 2021...

A: Solution Concept The term of the note is to be added to the note issue date to get the maturity date...

Q: Orion Iron Corporation tracks the number of units purchased and sold throughout each year but applie...

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method. Under p...

Q: In June of the current year, Department 2 (last department) received 80,000 units from Department 1....

A: Cost of goods manufactured shows the production cost of the goods that are completed and ready for s...

Q: need answers thank you.

A: The question is based on the concept of Financial Accounting.

Q: What is the amount of the deferred tax liability at the end of 2021

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Q: 1. A loan of Php 35,000 with a simple interest rate of 12% will be paid within 9 months. interest wi...

A: As posted multiple independent questions we are answering only first question kindly repost the unan...

Q: convert them into Experience Plus theatres. These two theatres are located in buildings that ETI

A:  Assistant Secretary for Planning and Evaluation (ASPE) refers to the main advisor of the Secretary ...

Q: The accounting records of Concord Inc. show the following data for 2020 (its first year of operation...

A: Pre-tax financial income means the income of company which is left after deduction of all operating ...

Q: As of December 31, 2020, Yahiko, Konan, and Nagato have capital balances of P240,000, P370,000, and ...

A: Bonus to Nagato = Profit × rate 100 + rate = P120,000 × 20120 = P20,000

Q: how to calculate gain on the sale of equipment

A: Carrying amount = Cost of equipment - Accumulated depreciation 

Q: Condensed financial data of Novak Company for 2020 and 2019 are presented below. NOVAK COMPANY COMP...

A: Depreciation expense = 1,220 - 1,190 = 30 Cash proceeds from issue of common share = 1,890 - 1,710 -...

Q: Riverbed Corp. uses the direct method to prepare its statement of cash flows. Riverbed trial balance...

A: The answer is stated below:             Note: Answering the first three subparts as there are multip...

Q: 1. _____ are controls that do not rely on the client's information technology (IT) environment for t...

A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first questi...

Q: irections: What would you do under the following situations below.

A: In this question, there are 3 different cases in which we have to show what would we do in these sit...

Q: tatement 1: Measurement period is relevant if Fair Value of Net Assets of acquiree includes the reco...

A:   While Acquiring Assets and Liabilities Acquirer does not recognize contingent assets acquired in a...

Q: If you are the Financial Manager of Zenith Construction Company, which of the three alternatives has...

A: Solution Concept There are three different alternative course of action given The alternative with l...

Q: The information below pertains to Pierpont Corp. for 202 Net income, $1,200,000. Common Stock, $10 p...

A: The formula for calculating basic EPS involves dividing net income by the number of common shares ou...

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.