Why do you think ethics is so important in accounting and business in general

Q: At October 1, 2021, Swifty Industries had an accounts payable balance of $41100. During the month, t...

A: Accounts payable (AP) are amounts owed to vendors or suppliers for goods or services not yet paid fo...

Q: Sandhill Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the fo...

A: GIVEN   Sandhill Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020...

Q: furniture purhased for cash $1,500 make journal entry

A: Journal entry means transactions, which include date explanation and the amount debited and credited...

Q: Adriana Graphic Design receives $2,450 from a client billed in a previous month for services provide...

A: As per accrual concept an income or expense is recorded when they are earned or incurred and not whe...

Q: Entries in the purchases journal are posted to the a. general ledger only. b. accounts payable ledge...

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

Q: Unit Selling Price Units Unit Cost nuary 1 arch 7 ly 15 250 P10.50 11.00 200 275 11.75 (120) (55) [2...

A:  

Q: Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy’s employer wi...

A: Tax is the amount which an individual or business is liable to pay the government for business opera...

Q: The County of Maxnell decides to create a waste management department and offer its services to the ...

A: Answer -  Working Note -  Interest calculate on balance Note payable -  (Feb Note Payable = $224,000...

Q: in c me of th o ac in is i t o pa ent

A:

Q: Problem 9 Johnson Corporation is preparing a flexible budget and desires to separate its electricity...

A: High low method: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest ...

Q: Perfect Cover Insurance Brokers is doing well with Assets - 262,000 Liabilities - 119,000 Equity – (...

A: Partnership is one of the form of business organisation, under which two or more than two partners j...

Q: Mia Company uses activity-based costing and reports the following for this year. Activity Cutting Bu...

A: Activity based costing is one of the type of costing system, under which all indirect costs and over...

Q: Company Healthy produces two main products: Daily vitamins and prenatal vitamins. They use activity-...

A: The activity rate is calculated as estimated overhead cost for activity divided by estimated usage o...

Q: PROBLEM IV. On January 2, 2019, Klaus Company (qualified as SME) acquired 80% interest in Marcel Com...

A: SOLUTION- WORKING NOTE - 4125000 / 0.8=5156250 1312000 + 3187500 +210000+127500=4837000. ESTIMATED F...

Q: Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Mo...

A: The equivalent units are calculated on the basis of percentage of the work completed during the peri...

Q: b. and d. Enter a debit balance of $840 as of September 1, 2019 in the supplies general ledger accou...

A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers. Le...

Q: Reversing entries are made at the beginning of the new accounting period in order to transfer all ac...

A: Revising Entries: It is possible to make an accounting period-ending journal entry that reverses cer...

Q: Exercise 4-3 (Algo) Income statement format; single step and multiple step [LO4-1, 4-3, 4-5) The fol...

A: Lets start with basics. Income statement can be prepare using two methods which are, (1) Single step...

Q: On January 1, 20x1, PRISTINE UNCORRUPTED Co. acquired an equipment for ₱4,000,000. The equipment wil...

A: solution working note annual depreciation under SLM                 = cost – residual value / life  ...

Q: On December 1, the Accounts Receivable account had a $22.000 debit balance. During December the busi...

A: Ending Account receivable = Beginning account receivable + Revenue on account - Collection from cust...

Q: The general journal organizes accounting information in:

A: In any business entity , whenever any event occurs or a transaction takes place it is recorded in a ...

Q: Consider a Japanese firm that sells product Y in the local market and contemplates sales to the US. ...

A: a) : Price of Y P = 250 - Q Marginal revenue = 250 - 2Q Marginal cost = 15 At equilibrium MR = MC 25...

Q: CuPry started her own consulting firm, Sage Hill Inc., on May 1, 2022. The following transactions oc...

A: According to the accounting equation, a company's total assets equal the sum of its liabilities and ...

Q: DEE Inc. purchased 600 milking cows on January 1, 2020 for P2,700,000. During 2020, the change in fa...

A: Answer: Biological assets are those assets that are dealt by IAS 41 " Accounting for agriculture".  ...

Q: . State and explain briefly five (5) factors or reasons that may influence a country’s decision to a...

A: IFRS or international financial reporting standards are the set of standards that now used by most o...

Q: You are buying your first house for $220,000 and are paying $30,000 as a down payment. You have arra...

A: Answer) Calculation of monthly payment Installments are to be paid monthly Amount Borrowed $19...

Q: A chart of accounts is a list of all ledger accounts and an identification number for each. Identify...

A: >Ledger accounts are the accounts of various accounting elements. >These accounts are of R...

Q: A trial balance will disclose that an error has been made in Entering an amount on the wrong side o...

A: SOLUTION TRAIL BALANCE IS A REPORT RUN AT THE END OF THE ACCOUNTING PERIOD, LISTING THE ENDIN BALANC...

Q: A review of the ledger of Blue Spruce Co. at December 31, 2022, produces the following data pertaini...

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the org...

Q: 19. After the posting of the accounts payable ledger and general ledger is completed, the total of t...

A: 19 .  The general ledger includes account payable ledger . The accounts payable is the creditor for ...

Q: Calculate Receipts from customers, payments to suppliers, payments for expenses, drawing

A: Cash received from customers shows how total amount has been received from the customers in the part...

Q: ABC Company acquired forest assets for a lump sum amount of P32,000,000 which is equal to the lump s...

A: As per International Accounting Standard 41 biological asset is any living plant or animal owned by ...

Q: Titabllity ratios (LO4-1oj The following condensed information was reported by Peabody Toys, Inc., f...

A: 1) Profit margin on sales =( Net profit/ sales) x100  Profit margin on sales =( 228/5,400)x100 =4.2%...

Q: On January 1, 2015, Lessor Inc. acquired a building with a cost of P500,000 and residual value of P5...

A: 1) net rent income of lessor rent (oct to dec.).  10000x 3.         30000 rent bonus.               ...

Q: March 1 Brooks invested $195,000 cash along with $24,000 in office equipment in the company. March 2...

A: 1. Date General Journal Debit Credit Mar 01 Cash 195,000     Office equipment ...

Q: Revenues $330000 Retained earnings (1/1/22) 59000 Equipment 79000 Expenses 248000 Cash 89000 Dividen...

A: As per IFRS an Asset is an wealth which is controlled by organization from results of past event, an...

Q: Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest paymen...

A: Effective Interest rate refers to the compounded interest rate that the bond holder actually pays as...

Q: ugust the following

A:                                      Net sales are calculated by deducting sales discount, sales ret...

Q: Up There IQ Inc. is a Gifted & Talented recruiting company that began operations on January 1, 20X1....

A: Journal entry is the practice of recording commercial transactions for the first time in the books o...

Q: Give me one example of Earnings Management. Please help me !!!

A: Earnings management refers to a company technique of deliberately use of accounting techniques to pr...

Q: 13. Merchandise is sold on account for P90, and the sale is subject to sales tax of P5.40. The sales...

A: Since you have asked multiple questions, we will solve one question for you. If you want any specifi...

Q: f. Prepare journal entries on January 1,20x1, December 31, 20x1 and January 1, 20x2.

A: A Sales type lease is in the nature of a sale. Here the lessor is selling the product to the lessee....

Q: Instructions: Determine the participation of the partners in the profit of P1,000,000 if profit is d...

A: Solution Given Capital balances of : Bong 350000 Bueno 250000 Bunny 200000 Tot...

Q: The following information relates to CEE Company: (Refor to image). Assuming CEE Company used the co...

A: Cost to Retail Method For calculating the cost of ending inventory which uses many methods like conv...

Q: Emily, who is single, has been offered a position as a city landscape consultant. The position pays ...

A: Solution:- Given, Emily Receives a job offer = $1,20,000 Non-taxable benefits = $5,000 As per 2021 T...

Q: After posting is completed in the accounts receivable ledger and the g ledger, the total of the acco...

A: Solution: Accounts receivable ledgers are subsidiary ledgers where all credit sales with respective ...

Q: The Marin Company issued $240,000 of 13% bonds on January 1, 2020. The bonds are due January 1, 2025...

A: The price of a bond is the present value of its cash flows. For a coupon bond, the cash flows are th...

Q: $ 11,500 I. Lawson, Withdrawals 5,800 Services revenue 7,800 Rent expense 4,170 Wages expense 19,130...

A: Solution: Balance is a financial statement which summarizes all the assets, liabilities and equity o...

Q: The photo given below is the horizontal analysis of Apple Inc balance sheet for two quotas. Discuss ...

A: Horizontal analysis is one of the financial statements analysis tool, under which increase or decrea...

Q: Lala formed a partnership on January 2, 2019 and agreed to share profit 9| ectively. Becky invested ...

A: Partnership is a, form of business organisation, under which all profits and losses will be divided ...