Working paper that bridges the gap between the accounting records and the financial statements are called ___.      Between cycle sheets         Divet sheets         Financial temps       Worksheets

Q: Pledged Assets : Plant, property, and equipment (PPE) Merchandise inventory Free assets Total assets...

A: Estimated recovery value is also written as ERV. It is the amount which is to be recovered by realis...

Q: Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August. Dann...

A: Cash collections in August = Collection from August sales + Collection from July sales + Collection ...

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: Anderson Publishing has two divisions: Book Publishing & Magazine Publishing. The Magazine division ...

A: Calculation of direct fixed cost & common fixed cost : Particulars  Book Division  Magazine ...

Q: Golf Corporation estimates that its production for the coming year will be 25,000 units, which is 90...

A: GIVEN Golf Corporation estimates that its production for the coming year will be 25,000 units, which...

Q: Parent Company acquires Subsidiary Company on September 1, 2020. Parent seeks an independent valuati...

A: The correct answer for the above mentioned question is given in the following steps for your referen...

Q: After a long dispute, AA, BB, and CC decided to liquidate their partnership. Their capital balances ...

A: The correct answer for the above question is given in the following steps for your reference

Q: Prosperity Company holds 40% of the voting rights of MNO Co. The remaining shares was held by thousa...

A: The rights of the investment holding to other companies are determining the the percentage of voting...

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: On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,30...

A:

Q: oe, June, and Jim—coworkers—decide that they want to start their own business. Joe has $200,000 to c...

A: Stock- Common stock is a type of investment that represents ownership in a company. A board of direc...

Q: When share appreciation rights are granted to employees

A: Stock appreciation rights :  It's a type of incentive which is provided by a company to It's employe...

Q: determine the total equivalent cost in present worth at an interest rate of 10%.

A: Total Equivalent Cost = Initial Payment + Present Value of Future Payments Present Value of Future P...

Q: Charles Company owns a building that originally cost P400,000 and has a current book value of P250,0...

A: Introduction:- The following basic information given as follows under:- Charles Company owns a buil...

Q: On September 30,2021, when the carrying amount of the assets of a major subsidiary was P70,000,000, ...

A: Discontinued operations are accounting words that refer to parts of a company's operations that have...

Q: Given the ledger accounts of Devrij Company as of January 31, 2020: Cash $26,400 Accounts Payable $9...

A: Trial Balance: Trial balance is a statement in which closing balance of all ledger accounts are tran...

Q: Bulldogs Inc. has forecasted that its net income will be P400,000. The company has debt ratio of 30%...

A: Answer) Under residual model, dividend is paid to common stockholders after deduction of amount to b...

Q: Cullumber Electronics issues a $355,500, 3%, 10-year mortgage note on December 31, 2021. The proceed...

A: Interest = Loan amount x rate of interest x no. of months in calendar year /12 months Loan Payment =...

Q: Which of the following statements is TRUE? O The acquirer shall measure the identifiable assets acqu...

A: As per IFRS 3 Acquisition Method shall be used for accounting businees combination. As per the IFRS ...

Q: aaPeter operates a dental office in his home. The office occupies 250 square feet of his residence, ...

A: Allocation of expenses to the home office is based on the proportion of total space and space occupi...

Q: PPPeter operates a dental office in his home. The office occupies 250 square feet of his residence, ...

A: A business's expenditure is the cost of operations incurred in order to generate revenue. As the old...

Q: Mike Greenberg opened Monty Window Washing Co. on July 1, 2022. During July, the following transacti...

A:

Q: Slosh Cleaning Corporation services both residential and commercial customers. Slosh expects the fol...

A: Answer) Calculation of Total Sales revenue required to earn desired profit Total Sales Revenue to ea...

Q: ABC Company was incorporated on January 1,2021. The following are the ordinary share transactions du...

A: No. of shares outstanding = Total no. of shares issued - number of shares reacquired but not retired

Q: determined that sales will increase by 25% next year, and that the profit margin will remain at 15% ...

A: Sales is a transaction between two or more parties in who is the buyer received tangible or intangib...

Q: Bulldogs Inc. maintains a cash buffer for unexpected cash outlays for the year amounting to 3,000. B...

A: Buffer cash is the amount of money that any business keeps aside for unplanned expenses in the near ...

Q: Clay Company has three lines of business, each of which was determined to be reportable segment. Sal...

A: Operating profit is the amount of profit earned from its main operations or business. It is calculat...

Q: Arrow Industries employs a standard cost system in which direct materials inventory is carried at st...

A: Direct Labor usage (efficiency) variance = (Actual hours worked - Standard hours allowed) x Standard...

Q: NEKO Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sa...

A: Calculation of days of sales outstanding   = 30% x 20 = 6 days    Calculation of credit sales = Tot...

Q: Parent Company acquired Subsidiary Company in two stages: In 2017, Parent acquired a 30% equity int...

A: Acquisition refers to the acquiring of one company call subsidiary by the other company called paren...

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: On January 1,2020, an equipment of ABC Company with a carrying value of P 1,500,000 was sold at P 2,...

A: Gain on sale leaseback  = Cash received on sales + Right of Use asset - Cost of assets sold - Presen...

Q: Prepare a flexible budget performance report that shows the company's revenue and spending varlances...

A:

Q: please answer numbers 4 and 5 only

A:  4)

Q: Michelle Hamilton and Bill Rossi decide to form a partnership. Hamilton invests $36,300 cash and acc...

A: Solution:- Preparation of the necessary journal entries to record the formation of the partnership a...

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: (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: On June 1, 2020, ABC Company granted share options to key employees for the purchase of 42,000 of co...

A: Number of stock option = 42,000 Fair value of stock option = P10 Vesting period = 4 Years   

Q: pany discovered a computational error of P150,000 in the calculation of the December 31, 2021 invent...

A: Retained earnings refers to the amount which company remained from profit after paying all the divid...

Q: How much is the temporary current assets needed during the fourth quarter? * , Bulldogs Inc. has a t...

A: Permanent current asset are the asset in which minimum balance are maintained irrespective of circum...

Q: gross profit variance analysis is most correct?

A: b. All of the choices are correct.  

Q: following is not a requisite of ‘object’?

A: This is a multiple choice question in which we have been given some options and we have to choose th...

Q: Bulldogs Inc. deals with various clients throughout the city and is attempting to collect its accoun...

A: Total receipts=Daily receipts×Average amount=300×P5,000=P1,500,000  

Q: 47 I. Financial accounting info. is usually used exclusively by internal parties such as managers. ...

A: Financial accounting refers to recording, analyzing and reporting of financial data of a company so ...

Q: Parent Corporation issued on March 31, 2021 500,000 shares of its P10 par ordinary shares, P40 marke...

A: Calculation of Consideration paid: a Number of shares outstanding of A Company 220,000.00 =550000...

Q: Naughty Co. has a 12% note receivable dated June 30, 2009 in the original amount of P3,000,000. Paym...

A: Interest accrued on June 30, 2011 = Net Note receivable amount x rate of interest x no. of months in...

Q: On August 1, Vermillion Ltd. accepted a $27,800 note from Borges Ltd. in settlement of an account re...

A: Interest accrued = Face value of notes  x rate of interest x no. of months / 12 months

Q: Assume that the business combination is a pooling of interests. Prepare all journal entries on Pop's...

A: Pooling of interest is an approach that is used for the purpose of reporting the financial transacti...

Q: On February 28, 2022, P Corp. purchased 80% of S Co's P10 par ordinary shares for P986,000. On this ...

A: Introduction Non controlling interest means stakeholders who have less than 50 % equity and have no ...

Q: i need question 33 answered

A: MACRS depreciable amount= Purchase amount- Sec 179 expense = $ 510000- $ 500000 = $ 10000