why we need to know the difference between fixed and current assets?
Q: The GA-42334 company uses direct labor cost as its allocation base for its predetermined overhead ra...
A: Work in Process inventory: Work in process is the term used to depict, to some degree, finished merc...
Q: In which of the following scenarios does the basic Economic Order Quantity model can be applied? * O...
A: Lets understand the basics. Economic order quantity(EOQ) is a quantity at which ordering cost and ca...
Q: On January 1, 2020, Davao Company issued 6% bonds with 3. What is the carrying amount of the bonds p...
A: Introduction Dear student as per guideline we will solve first three subparts for you please ask ano...
Q: For the past four years, ABC reported the following annual net income and dividend amounts: Year...
A: Retained Earnings: When a company's direct and indirect expenses, income taxes, and dividends to sha...
Q: Which of the following pertaining to Consolidated Financial Statements is correct? A. The preparatio...
A: As per Accounting standards, when the parent acquires a subsidiary or have controlling entities then...
Q: The working capital financing policy that would put a company to the highest level of risk is the on...
A: Introduction:- Working capital play vital role in every business organization. Which are used to ru...
Q: On February 28, 2022, P Corp. purchased 80% of S Co.’s P10 par ordinary shares for P986,000. On thi...
A: USING FAIR VALUE METHOD CALCULATION OF NCI AS ON DATE OF AQUISITION NCI (986000/80% *20% ) ...
Q: Which of the following should financial information not be? Group of answer choices Unsubstantiated ...
A: Lets understand the meaning of the financial information and how it should be. Financial information...
Q: The change in the credit policy would result to increase (decrease) in incremental profit of (Use 36...
A: Profits without Incremental Sales: Sales : P30,00,000 (-) Cost of products (P30,00,000 X 4...
Q: How can the separate entity concept benefit the owner and the business
A: Separate entity concept: It refers to the practice of Recording separately the transactions of the B...
Q: How is the beginning value for the second year got from the table below
A:
Q: The shareholders' equity section of PRAY Corp. on December 31, 20x1 appeared as follows: Preference ...
A: Unappropriated Retained Earnings Unappropriated Retained earning which is described as the amount wh...
Q: Which of the following is correct with regards to cash discounts offering? * Investment in accounts ...
A: Cash discount is given to customers for making instant payments while they purchase goods or avail s...
Q: n its first month of operations, Tamarisk, Inc. made three purchases of merchandise in the following...
A: In this question, we have to calculate the weighted average cost. Weighted Average Unit Contribution...
Q: A transaction has been recorded in the general journal of Manella Company as follows: Account Title ...
A: A transaction is an organization interact that has a monetary effect on a company's financial statem...
Q: Bhoopesh Ltd. gives you these transactions of their Business. Find out their effect on its Assets, L...
A: Accounting Equation: Total assets = Total liabilities + Equity
Q: Greenwood Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. ...
A: Activity-based costing (ABC) system Activity-based costing is the most commonly used method of assig...
Q: Bulldogs Inc., a corporation that issues ordinary shares with par value, completed a 2-for-1 stock s...
A: Legal capital means company's equity portion can not be distribut by dividend or any other means.
Q: RA-31280 company manufactures a specialized equipment. At the lowest activity level of 6,600 units, ...
A: Given that, At 6,600 units, the company's total quality control cost is $281,600. Since lease is fix...
Q: (a) Complete the aging schedule. Number of Days Accounts Estimated % Total Estimated Outstanding Rec...
A: Formula:- Total estimated uncollected Accounts = Account Receivable × Estimated % uncollectible.
Q: Information on Vergara Company’s direct material costs for May 2018 is as follows: Actual quantit...
A: Answer) Calculation of Material Price Variance Material Price Variance = (Standard price per pound o...
Q: what is the annual cost of financing? a. 12% b. 17.5% c. 10% d. 14%
A: Solution:- Given, A Company enters into an agreement with a firm that will factor the company's acco...
Q: On January 3, 2022, P Company acquired 70% interest in S Company for P4,200,000. Consideration inclu...
A: Solution Non - controlling interest is an ownership position whereby a shareholder owns less than 5...
Q: The following transactions were given pertaining to Amit Bardar Pvt. Ltd. Find out the effect on Ass...
A: Accounting Equation: Total assets = Total liabilities + Equity
Q: A company manufactures Cricket Bats. In May 2010 the budgeted sales and production were 19,000 bats ...
A: In this question, we have to calculate different variances.
Q: Mama inc. offered a one-year loan to a customer client. The instrument is a discounted note with a n...
A: Discount rate (D) = 15%
Q: how to find net operating working capital
A: Working capital or net working capital is arrived by deducting Current liabilities from Current asse...
Q: Tyrell Company issued callable bonds with a par valu option requires Tyrell to pay a call premium of...
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: Greenwood Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. ...
A: Activity rate = Estimated overhead costExpected activity The above formula is for the activity rate.
Q: 1/ At the time of her death in 2019, velma owned 25% of the stock in delores corporation and 21% sto...
A: Ans. True
Q: Charleston, Inc. had the following information: Year 2 Year 1 Net Sales 210,000 194,800 ...
A: The Vertical analysis is also known as common size analysis. All the percentage ls are calculated of...
Q: a long dispute, AA, BB, and CC decided to liquidate their partnership. Their capital balances as of ...
A: The last preferred options in case of partnership phase liquidation which is considered to be most p...
Q: If Bulldogs’ current liabilities are P1,300,000, the firm’s A. Acid-test ratio will be constant if ...
A: Liquidity ratios are accounting metrics used to assess the ability of the business to meet its short...
Q: 2. During 20x1, Cord Builders, Inc. started work on a P9,000.000 fixed-price construction contract. ...
A: Under the percentage-of-completion method, revenue is recognized periodically on the basis of the pe...
Q: Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cas...
A: Average amount of account Receivable = Days of sales outstanding x Sales / 360 Days of Sales Outstan...
Q: Balance a checking account that recorded the following activity since the last statement. Deposits: ...
A: Bank Account The purpose of maintaining the bank account which can used for planning and maintenance...
Q: Bulldogs Inc. is a retail mail order firm that currently uses a centralized collection system that r...
A: Number of days required for collection under centralized collection system = 6 + 3 + 2 = 11 days Nu...
Q: Sunny introduces a new compact music player that carries a two-year warranty against manufacturer's ...
A: Solution: Total sales = $30,900,000 Actual warranty expenditure = $290,000
Q: Which of the following choices best describes reasonable conclusions that you might make about the t...
A: Current ratio = Current assets / Current liabilities Current ratio of A = 40,000/10,000 = 4 Current ...
Q: Problem 3 liquidation of the partnership: P500,000.00 1,900,000.00 P2,400,000.00 Cash Non-cash asset...
A:
Q: Dublin Company had two operating divisions, ona manufactures machinery and the other breeds and sell...
A: given On December 31, 2021, the carrying amount of the assets of the horse division was P5,000,000...
Q: Differentiate between centralized and decentralized operations. Also, differentiate between a prof...
A: Departmentalization: Departmentalization is a cycle wherein occupations or groups are joined togethe...
Q: PART 1 Exclusive Souvenirs Hut does customize, hand-crafted memorabilia for hotels, in which each ba...
A: "Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and ...
Q: The new manager of inventory at Bulldogs Inc. is developing an inventory control system and plans to...
A: Safety stock refers to extra or additional quantity of inventory held in stock by a company in order...
Q: Legal Aid Inc. Trial Balance 31-Mar-20 Accounts Debit Credit Cash 5,450 Accounts Receivable 16,200 S...
A: The worksheet is a page where all the adjustments, adjusted trial balance , income statement and bal...
Q: At the end of November 2016, Caribbean Productions Ltd had 700 units of product BMR400 in store. For...
A: An organization or a manufacturing unit can have different cost technique which they can use to asce...
Q: CAR-93482 company purchases battery powered bikes from a manufacturer for $1,497 per unit and then s...
A: Total Variable cost per unit: Cost of goods sold = $1,497 Sales commissions ($2,300 x 5%) = $115 Del...
Q: Question: Explain the steps of the preparation of the trial balance.
A: The financial statements of the business including income statement, and balance sheet are prepared ...
Q: It is assumed that the Cost of equity and rate of return are both constant under Walter’s Model of D...
A: Since you have asked multiple questions, we will solve only one question for you as per Bartleby's g...
Q: Below are several of the ASB management assertions. A. Occurrence B. Completeness C. Rights and obli...
A: The question is of Auditing and is related to the match management assertion that best appliesby pla...
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