y the creditor on
Q: The table below shows the financial process with corresponding significant account and relevant…
A: The concept of relevance relates to the idea that the information generated by an accounting system…
Q: At December 31, 2021 the following balances existed on the books of Bulaga Corporation: Bonds…
A: The question is related to Bond Valuation. The details are given as under Face Value of Bond =…
Q: Uablir, nv sells two models of their product in Tennessee, the CGB model and the CGA model. They…
A: Solution: Overall contribution margin ratio = Overall contribution margin / Overall Sales First we…
Q: On June 1, 20-, a depreciable asset was acquired for $5,040. The asset has an estimated useful life…
A: Formula: Book value = Cost of the assets - Accumulated depreciation Where, Accumulated depreciation…
Q: 0 hp sandmill for paint manufacturing cost P 360,000. Bank charges arrastre and brokerage cost P…
A: Straight-line depreciation The simplest straightforward approach for determining an asset's loss of…
Q: The accounting records and bank statement of Orison Supply Store provide the following information…
A: GIVEN The accounting records and bank statement of Orison Supply Store provide the following…
Q: On January 1, 2019, Jericho Company purchased a patent for P7,140,000. The patent is being amortized…
A: Answer is option B) 4,896,000
Q: The Balanced Scorecard provides many performance metrics used to measure a company’s performance.…
A: Balance scorecard is the method which displays entity's performance into four dimensions. Balance…
Q: PROBLEM 4: MULTIPLE CHOICE-COMPUTATIONAL 1. In preparing its August 31, 2004 bank reconciliation,…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: a. His sari-sari store has cash deposited in a bank account amounting to P50,000 b. His sari-sari…
A: Statement of Financial position includes: Assets accounts Liabilities accounts Shareholders equity…
Q: Who enforces requirements regarding financial products and services? A. CCA B. ACCC C. ASIC D. ACL
A: The financial market is a constantly developing and growing market in which there are several…
Q: Company A has current sales of $4.000.00 and a 45% contribution margin. Its fixed costs are…
A: Formula: Degree of operating leverage = Total Contribution margin / net income
Q: Inuyasha Company reported accounts payable of P1,000,000 as of December 31, 2022. The following…
A:
Q: is-Kla CVBA sells a single product in Georgia for $792. Variable costs are 59% of the selling price,…
A: Answer) The breakeven point is 940 units. At Breakeven point all fixed costs are already recovered…
Q: For the indicated units produced, South-western, Inc. reported the costs shown below: Units…
A: Answer A) Calculation of total variable manufacturing cost per unit Total Variable manufacturing…
Q: A new tablet cost $1,323 with a negligible salvage value in 3-years. Using double declining balance…
A: Answer) Calculation of depreciation expense for the year 1 Depreciation for Year 1 = Original Cost…
Q: In an analysis of the statement of ABC Company for the year ended December 31, 2021, the following…
A: Retained earning means the amount left in business after paying all expenses and dividend to…
Q: Regular journal entry to record the business combination transaction.
A: Here FAR is the acquiror and SAR is the Acquiree. During the calculation of Net assets , Market…
Q: a. What is the discount or premium from the issuance of the bonds payable? Indicate whether…
A:
Q: Kerr Manufacturing sells a single product with a selling price of S600 with variable costs per unit…
A: Formula: Break even point in Units = Fixed cost / Unit contribution margin
Q: Data concerning Celenza Corporation's single product appear below: selling price per unit- $230…
A: Formula: Dollar sales to attain that target profit = (Fixed expense + Target profit) / Contribution…
Q: Mauro Products distributes a single product, a woven basket whose selling price is $23 per unit and…
A: Formula: Break even point in Dollar sales = Break even point in units x Sales price per unit
Q: On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were issued…
A: Carrying value of the bonds = Issue value of the bonds + Amortization of discount where, Issue value…
Q: Ivanhoe Company makes three models of tasers. Information on the three products is given below.…
A: This question is related to short term decision making concerned with continuation or…
Q: 3. Consider a project with an initial investment of $60,000, a 8 year useful life (and study…
A:
Q: 63%
A: Net profit margin refers to the amount which is generated as a percentage of revenue. It…
Q: The the third quarter records of Clemmie Corporation indicate that they incurred the following costs…
A: Product Costs mean the costs incurred directly related to the production of a product. Product costs…
Q: Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at…
A: Target cost is the cost which need to incurred by a entity in order to arrive the predetermined…
Q: Indicate the amounts requested below. Some amounts are shown in the illustrated T accounts; others…
A: The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are…
Q: PROBLEM 14 Wayne company uses a job costing system and applies overhead to jobs using a…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: The Hy-Tech Services Corporation employs researchers based in countries around the world. Employee…
A: Cost of intangible asset does not includes the following cost : 1. Annual maintenance cost 2.…
Q: apacity than the model 330 machine, but its capacity is sufficient to continue making product E26T.…
A: Opportunity cost The benefit that could have been received if a different option had been chosen is…
Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…
A: c. 112,471.65 Balance of Discount on Bonds Payable on December 31,2020
Q: Joyce purchased the building in which their corporate office is housed on 1/1/21 for $4,700,000.…
A: Here discuss about the details of the options of purchase which was made either for the borrowing or…
Q: What are the item/s that are not included in the Inventory for Distribution? Give the reason why the…
A: Inventory for distribution refers to the concept where the inventory required to be sent to the…
Q: dentify each of the following statements as either true or false. a. A voucher system of control…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: A company sells its products for S80 per unit and has per-unit variable costs of $30. What is the…
A: Contribution margin is the excess of sales price over the direct costs of a product. The…
Q: The risk free interest rate is 150 basis points. The market is assigning a risk premium of 300 basis…
A: The question is related calculation of selling price of property. The details are given as under…
Q: Freight-in 24,0
A: Introduction The cost to retail ratio is calculated as ratio of cost of goods available for sale at…
Q: Waupaca Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows…
A: Petty cash: Petty cash fund is established to manage the payment for the small business expenditure…
Q: Jenny's personal car was totally destroyed in a hurricane in 2021, the area was declared a Federal…
A: Actually Paid amount: $15,000 AGI: $50,000 We need to compute the value of income which should be…
Q: Discuss transaction cycles.
A: A transaction cycle is an interlocking set of the business deals. Utmost of these deals can be…
Q: Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The…
A: given Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants.…
Q: On 31 December 2017, IC showed the following current assets Cash 3,200,000 Accounts receivable…
A: In the context of the given question, we compute the adjusted cash balance. The adjusted cash…
Q: As a result of this decision, what is Malcolm’s basis in his S corporation stock immediately prior…
A:
Q: 2. On October 1, 2011, Sammy Company issued 8,000,000 of its 10-year 8% term bonds dated October 1,…
A: Solution Given Face value 8000000 Life 10 year Coupon rate 8% Market rate…
Q: ven an initial deposit of $30,000 and a legal reserve requirement of 15%, what is the amount of…
A: Basic Banking Concept
Q: Company A wants to eam $5,000 profit in the month of January. If their fixed costs are $10,000 and…
A: Formula: Units must sell to reach target income = ( Desired income + Fixed cost ) / Unit…
Q: An accounting transactioin simultaneously decreases assets and equity.This transaction is explained…
A: Every transaction has dual effect in the books of account. Accounting equation is: Total assets =…
Q: Instructions: Problem is to be worked independently. All parts, excluding part 4, should be neatly…
A: The bonds are issued at premium when market rate is lower than the coupon rate of bonds payable.
True or False
1. A debtor may authorize anybody to pay the creditor on his behalf.
2. The creditor has no right to refuse payment from person authorized by the debtor.
3. The debtor is obliged to pay the loan unconditionally.
4. Creditor has the right to demand payment of cash only.
5.
Step by step
Solved in 2 steps
- True or False. 1. The loan is considered fully paid and the debtor is released from the obligation, when the creditor considered the loan as donation. 2. Maturity date is the date in which the debtor has the legal and absolute right to collect payment. 3. Only the creditor has the right to collect from the debtor, and this right is non-transferrable. 4. In a single credit transaction, there can be more than one debtors. 5. The debtor is primarily liable to pay the loan. 6.6. When unspecified receivables are used to secure for a loan, which accounting treatment is required? Only a note to financial statement is required The borrower notifies the debtor that their receivables were assigned the borrower should not notify the debtor that their receivables were assigned Notify the debtor that their receivable was sold4. Which of the following statements about promissory notes is incorrect? a. Interest is the revenue to the maker of the note b. The party making the promise to pay is the debtor c. The party to whom payment is to be made is the creditor d. The maturity date of the note is the date when final payment of the note is due
- 23 According to BAFIA 1989 “a person entitled to repayment of a deposit, whether made by him or any other person” is referred to as:* A. Customer B. Debtor C. Depositor D. ClientWhich of the following statements is correct?(1) Bad debts written off is subject to VAT.(2) Bad debts written off is an exempt supply.(3) Bad debts written off is zero rated.(4) Bad debts written off is subject to VAT at a rate of 14%.(5) Bad debts written off is not in the pursuit of enterprise.8. When specified receivables are used to secure for a loan on a notification basis, which accounting treatment is required? Only a note to financial statement is required The borrower notifies the debtor that their receivables were assigned the borrower should not notify the debtor that their receivables were assigned Notify the debtor that their receivable was sold
- 5. Which of the following will make Murabaha invalid? a. If payment is made in installments b. if the supplier is not paid directly by the bank. c. Price not agreed. d. Price not fully paid.Which of the following statements is false? A.Prepaid expenses are fully deductible when paid for a cash basis taxpayer. B.Reasonableness is most often considered in the context of compensation. C.Inventory can not be deducted when paid. D.You are considered to have paid at the date you pay with a credit card, even though you still owe the bank.Which of the following statements is false? Group of answer choices A.Prepaid expenses are fully deductible when paid for a cash basis taxpayer. B.Reasonableness is most often considered in the context of compensation. C.Inventory can not be deducted when paid. D.You are considered to have paid at the date you pay with a credit card, even though you still owe the bank.
- True or False. 1. Maturity value is the amount collectible on the agreed date of payment. 2. The creditor has no right to authorize anybody to collect from the debtor. 3. A creditor may authorize anybody to accept payment from the debtor on his behalf. 4.Which of the following statements is false? In order to claim a bad debt deduction: a. There must be an existing debt. b. The debt must be written-off. c. The taxpayer must be in the business of money-lending. d. The debt must be bad.In case the debtor does not make the application of payment nor the creditor does not also state in which application of payment of payment is made, then application is made by operation of law. True False