Who should prepare a social audit for the firm?

Q: On 1/1/21, Elliott Company leased machinery with a fair value of $1,185,000 from Greene Corporation.…

A: Lease is an agreement between leaser and lessee in which leaser allows lessee to use her land…

Q: Troy (single) purchased a home in Hopkinton, Massachusetts, on January 1, 2007, for $270.000. He…

A: Comment - Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: What is the correct amount of inventory on December 31, 2021? Emperador Company counted and reported…

A: Inventory is one of the important current asset being held by the business. It includes raw…

Q: Add the purchase of land and a warehouse building from Deluxe Properties, check no. 1012, amount:…

A: Introduction: The initial stage of the accounting cycle is a journal entry. A journal records all of…

Q: A master budget consists of a. all the accounting journals and ledgers used by a company. b.…

A: Budget is prepared for a particular period which shows the estimation of revenue and expense. The…

Q: list price of ₱90,000, subj

A: Given as, Merchandise Inventory list price = P 90,000 Trade discounts = 20% Another discounts = 10%

Q: How do accounting books handle overhead overabsorption and underabsorption?

A: Overheads are the basic cost component of any product or service. It basically comprises of the…

Q: Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and…

A: Cash Coverage Ratio = (Earnings Before Interest and Taxes + Non-Cash Expenses) ÷ Interest Expense…

Q: vable retention must be included in the calculations for the collection period? True or false. If…

A: Account receivable retention is period for which the amount of time for which money is held by the…

Q: Johnnie Walker Company provided the following data at year-end: Items counted in the warehouse…

A: Inventory refers to the goods which is not yet sold by the business but their goal is to sell these…

Q: Masipag Company produces a product that undergoes three processes and the completed items at end of…

A: Equivalent number of units means units completed in the particular period or manufactured in the…

Q: Q4] Deewali advance given to an employee is a) Revenue Expenditure b) Capital Expenditure e)…

A: Comment- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Actual sales for August and September are as follows:     August   September Cash sales   $6,000…

A: The question is based on the concept of Cost Accounting. A cash budget is designed to determine the…

Q: Ecker Company reports $1,800,000 of net income and declares $252,000 of cash dividends on its…

A: Basic earnings per share = Net income available to common stockholders / Weighted average shares of…

Q: source net income 200,000 German income tax 80,000 Net income after taxes 120,000 Cash remitted to…

A: The US corporation taxable income shall be US source income + Cash remitted to US owner = $300000 +…

Q: Use the following information for questions. The following accounts were included on Stacy's Style…

A: Current Assets are those assets which can be converted into cash within a period of one year or in…

Q: You are considering two job offers: Job 1 is a full-time position that pays $58,000 annually and Job…

A: Pretax earnings are the earnings of a corporation after subtracting all operating expenses,…

Q: The Maria Company estimated its factory overhead of the next period at P160,000. It is estimated…

A: ABC costing system uses more than one recovery rate to allocate the various costs. The allocation of…

Q: Miller Company has an unfavourable materials price variance. Which of the following would be the…

A: Introduction:- The following formula used to calculate as follows under:- Material price variance…

Q: what is accounting?explain it.

A: A business needs quantitative record of its over financial performance and financial position in…

Q: 2. A company is uncertain how many units of a new product can be sold each year. To determine its…

A: The rate of return on annual sales is calculated by taking the profit generated by the sales divided…

Q: Dexter Industries purchased packaging equipment on January 8 for $392,400. The equipment was…

A: Depreciation: - Depreciation is the reduction in the value of asset as its use or wear and tear…

Q: Cash Receipts Budget and Accounts Receivable Aging Schedule Shalimar Company manufactures and sells…

A: The question is based on the concept of Budgeting. Cash receipts budget is prepared to calculate the…

Q: . Cash Budget Janet Wooster owns a retail store that sells new and used sporting equipment. Janet…

A: Cash Budget is the summary of Cash receipts amd cash disbursements for the period. While preparation…

Q: Calculate the machine's depreciation using the declining balance method: A company has purchases a…

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

Q: A company produces and sells one product only which sells for $50 per unit. There were no stocks at…

A: GIVEN   A company produces and sells one product only which sells for $50 per unit. There were no…

Q: Anne LLC purchased computer equipment (five-year property) on August 29, 2018 for S36,000. Anne LLC…

A: Introduction:- Depreciation is expense, which is charged on fixed assets over useful life of the…

Q: If the net sales 1250 000 ID selling expenses 250 000 ID., Administrative expenses 250 000 ID., the…

A: Introduction: Gross profit: Deduction of cost of goods sold from the sales value drives the Gross…

Q: Exercise 10.8 ROl and Investment Decisions Refer to Exercise 10.7 for data. At the end of Year 2,…

A: Return on investment (ROI) is a performance indicator that can be used to evaluate the efficiency or…

Q: What impact may the low accuracy of accounting estimates have on the annual statements?

A: Accounting estimates means estimation of the accounting transactions based on different factors like…

Q: Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona.…

A: Solution:- Preparation of a schedule of cash receipts for May and June as follows under:- Cash…

Q: stion 16 The common stock of Cranberry, Inc. is seling for $26.75 on the open market. A dividend of…

A: The Expected Rate of Return is calculated with the help of following formula  Ke = D1 ÷ P0 + g P0 =…

Q: Sonic Oxy cleaner cleaner Sales Price $70 $42 22 Variable cost per unit 40 Total demand for Oxy is…

A: In cost volume profit analysis, limiting factor is used to produce that product which gives maximum…

Q: Cash Budget Khloe Company imports gift items from overseas and sells them to gift shops and…

A: Cash Budget is a summary of Cash Receipts and disbursements made during the period. In cash budget…

Q: At the end of the month, the schedule of accounts payable (a list of ending amounts owed to…

A: A control account seems to be a general ledger account that simply contains summarized amounts.…

Q: Budgeted Cash Collections, Budgeted Cash Payments Historically, Ragman Company has had no…

A: Cash flow refers to the net amount of cash and cash equivalents being transferred or the movement of…

Q: January 1, 2020, Patrick Corporation issued P10 million bonds that will mature in five years. The…

A: Sinking fund are created for the bonds so that sufficient amount get accumulated at the end of…

Q: the following Assumptions: Tangible Asset Value = 16,200,000 Required Return on Tangible Assets =…

A: We can also utilize the surplus earnings method to appraise a corporation. We must first assess the…

Q: Atlas Foods produces three supplemental food products simultaneously through a refining process…

A: The joint cost is the cost incurred to produce two or more products and the cost incurred is not…

Q: Keesha Co. borrows $100,000 cash on November 1 of the current year by signing a 150-day, 10%,…

A: Notes Payable: Known as long-term obligations, notes payable represent the money a firm owes to its…

Q: Compute the following: The amount of ending inventory reported under absorption costing method If…

A: Contribution margin is the excess sales over variable cost

Q: On January 1, 2020, Glucose Company, a calendar-year firm, extended a loan to Gyoza Enterprises…

A: CARRYING VALUE IS AN ACCOUNTING MEASURE OF VALUE IN WHICH THE VALUE OF AN ASSET OR COMPANY IS BASED…

Q: Cash Budget Janet Wooster owns a retail store that sells new and used sporting equipment. Janet has…

A: A cash budget is a budget prepared at the beginning of the period that includes the cash to be spent…

Q: 2,800,000 1,600,000 % bank loan 280,000 0% short-term note % long-term loan 160,000 2,000,000…

A: According to Accounting Standard 16 i.e. Borrowing cost . When an asset falls into the category of…

Q: Last year, Garrison Manufacturing sold 500 000 units at $4 each. Sales volume is expected to…

A: Formula used: Sales revenue = Sales units x Sales price per unit.

Q: US company Mary's Fine Fashions manufactures and sells various types of women's clothing. At the end…

A: Standard unit cost = Direct material cost + Direct labor cost = (2.50 x $1.3) + (15 x $0.20) = $6.25

Q: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects…

A: Working Note: Income tax expense = Income tax expense x tax rate = $4,140,000  x 40% = $1,656,000

Q: The following information applies to the questions displayed below.] In preparation for developing…

A: The cash flow statement is prepared to record the cash flow from various activities including…

Q: The following attributes are correct in respect of accounting equation except one of them: O a.…

A: Accounting equation is simply the basic of double entry book keeping of accounting. It shows the the…

Q: Differential Analysis Operate Warehouse (Alt. 1) or Invest in Bonds (Alt. 2) July 1 Operate Invest…

A: Differential analysis shows difference between revenues and expenses of two alternatives. In this…