Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months.
Q: Accounting Tamar Company manufactures a single product in two departments: Forming and Assembly.…
A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…
Q: Comparative Balance Sheet December 31, 2020 and 2019 Increase (Decrease) 2020 2019 Amount Percent…
A: Horizontal analysis is a kind of financial statement analysis which is used to compare the data of…
Q: F. CengageNOWv2 | Online teaching and learning resource from Cengage t 2 The balances for the…
A: Balance sheet Items: The phrase "balance sheet items" refers to all of the records that are captured…
Q: 3. 3.Each year, 20/20 Vision Clinic sells 10,000 frames for eyeglasses. The clinic orders frames…
A: Optimal Order Quantity: It is the computation that an organizations play out that addresses their…
Q: B. Doy, Rey, May and Fay are partners with capitals of P 22,000, P 20,600, P 27,400 and P 18,000…
A: Step 1: Payment of Loan Balance to Doy. Step 2: Distribution of Losses to the partners in the profit…
Q: Last month, Laredo Company sold 450 units for $25 each. During the month, fixed costs were S2,520…
A: Introduction: Break even point in units: It tells the sales level where there is no profit nor loss…
Q: Nichols Enterprises has an investment in 27,000 bonds of Elliott Electronics that Nichols accounts…
A: A bond is a type of long-term debt that is used by the companies to raise the amount. A bond is…
Q: The market price of a stock is $35.00. An investor has purchased a call option for 100 shares of…
A: Intrinsic Value:- It measures the true value of assets or stock means it is the maximum value of a…
Q: A job was recently completed. The following data have been recorded on its job cost sheet: Direct…
A: Total cost recorded on the job cost sheet for this job = Direct materials + Direct labor wage +…
Q: You have the following information about Al- Farah Company: 2020: Net Sales 11,396.9, Gross profit…
A: Horizontal analysis is one of the financial statement analysis under which each item is being…
Q: 1- Prepare a Manufacturing account for the year ended 31 December 2017 2- Prepare a Trading account…
A: Manufacturing account shows total costs which are incurred directly for production and manufacturing…
Q: All About the Dough sells funnel cake for $5.25 per customer Variable costs are $2.50 per cake. Fbed…
A:
Q: Chapter 7 (Topics 7.4 &7.5) ittle Sluggers Inc., manufacturer of aluminum bats, estimate ales of…
A: A flexible budget adjusts to changes in real income. Actual revenues or other activity indicators…
Q: e weighted-average method, compute the equivalent units of production for a new company that started…
A: Solution: Equivalent units refers to the portion of work done for a particular physical unit. these…
Q: Thad, a single taxpayer, has taxable income before the QBI deduction of $192,500. Thad, a CPA,…
A: Given: - Taxable income before the QBI deduction = $192,500 Qualified business income = $154,000…
Q: Which of the following finance options is given to businesses by their suppliers? O Commercial Paper…
A: Ques1 : Trade Credit Trade credit is a business-to-business (B2B) agreement in which a customer can…
Q: lease help
A: In this question, we have to make an income statement and find out the financial advantage or…
Q: a company uses process costing, weighted-average method in its production. if the equivalent units…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: $59 per unit. Order from Laboratory-Apex: 4,500 units at $635 per unit with standard mask $45 per…
A: Variable cost refers to the expenses that fluctuate when there are fluctuations in the number of…
Q: O Salvage Value O Useful Life
A: It is given that the argument is double decline balance depreciation results in zero.
Q: Pinnacle Co., prepares quarterly interim financial reports. The entity sells electric fans and…
A: Interim financial statements are those statements which cover the period of less than a year and it…
Q: hen closing income statement accounts having debit balances, which of the osed? O Purchases Returns…
A: Solution: Accounts having debit balances that are closed includes expenses on the income, sales…
Q: a) issue a commercial paper at 13%p.a less 22% service charge b) discount a 180-day note for 14%…
A: The term "cost effective" refers to something that offers good value in terms of benefits and usage…
Q: IV. The net income reported on the income statement for the current year was P255,800. Depreciation…
A: Cash flow statement records transaction related to cash inflow and cash outflow taking into…
Q: Which of the fo
A: The portion of sales remuneration dependent by job performance is known as variable pay. Variable…
Q: The following information is provided regarding a company's pension plan: Service cost $640,000…
A: Interest on projected benefit obligation = Projected benefit obligation, Jan. 1 × Interest cost =…
Q: Interperlod Measurement of Productivity, Profit-Linked Measurement Helena Company needs to increase…
A: The profit-linked productivity measure helps management to understand how current year profits are…
Q: Given a net income of $50,000, sales of $2,000,000, variable costs of S25,000, fixed operating costs…
A: Formula: Degree of operating leverage = ( Sales value - Variable cost ) / ( Sales value - Variable…
Q: 9. If total assets decreased by RM10,500 and owner's equity increased by RM3,000 during the same…
A: Total liabilities = Total assets - Owner's equity
Q: Diane Baumah, a professional artist with AGI in excess of $65,000, made the following donations.…
A: GIVEN Diane Bauman, a professional artist with AGI in excess of $65,000, made the following…
Q: Old Backhoes New Backhoes Purchase cost when new $89,000 $198,095 Salvage value now $41,900…
A: The net Present Value method is a capital budgeting technique in which the present values of all the…
Q: True or False with explanation The formula for simple interest is: Interest = Principle x Days…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Consider the following information about operations of a business for the period ending December 31,…
A: Gross profit is the amount of profit that is arrived at by deducting cost of goods sold from Net…
Q: Explain the purpose of the statement of cash flows and why it is necessary.
A: A cash flow statement is a straightforward financial report that depicts a company's cashflow (cash…
Q: Taylor Bashir Limited uses a range of raw materials in its production of metal fling cabinets,…
A: Inventory is the raw materials used in production and available for sale. The inventory includes raw…
Q: Eugene and Amelia wish to help fund their grandchild Drew's college education. They have a sizable…
A: Section 529 plan refers to the plan which is a tax advantaged savings plan and it is designed for…
Q: A summary of selected ledger accounts appears as follows for Alberto's Plumbing Services for the…
A: The net income for the year will be added to capital account at year end.
Q: Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's…
A: Accounting Ratios: Accounting Ratios are the financial ratios through which a company can analyze…
Q: Balance of Salaries Expense The trial balance for Ariel Certified Cleaners appears as follows: Ariel…
A: Financial statements are those statements which are prepared by business at the end of financial…
Q: Given the following information, prepare a production report with materials added at the beginning…
A: GIVEN Given the following information, prepare a production report with materials added at the…
Q: Explain the purpose of the statement of cash flows and why it is necessary.
A: A statement of cash flow is a simple financial report that shows a company's cash inflows (cash…
Q: Churos Inc. began the current year with the following: Accounts receivable 2,000,000 Allowance…
A: Cash Basis:. It is the accounting method that perceives incomes and costs at the time cash is…
Q: Direct Labor Costs During May, Jernigan Company accumulated 770 hours of direct labor costs on Job…
A: Total Labor Cost for Job 200 = Labor Hours * Direct labor rate = 770 * $ 16 = $ 12320
Q: Municipal bond interest Ordinary dividends Qualified dividends Taxable interest $20,000 $3,000…
A: The deduction of interest on investment that is paid to broker depends on the income from the…
Q: Administrative Expenses include: O Advertising Expense. O Sales - Salaries Expense. O Accounting -…
A: Administrative expenses are sort of fixed cost that will occur whether production is there or not…
Q: What are estate taxes?
A: Taxes: Taxes are the taxpayer's obligation to pay a certain amount to the tax authority on yearly…
Q: Zwick Company bought 25,500 shares of the voting common stock of Handy Corporation in January 2021.…
A: A company can distribute dividend if it has positive net income.Also it can distribute out of…
Q: Crescent Company produces stuffed toy animals; one of these is “Arabeau the Cow.” Each Arabeau takes…
A: Budget is the estimation made for future period. For example, direct material budget, direct labour…
Q: Ordinary share capital, P50 par, 500,000 shares Preference share capital, P100 par, 100,000 shares…
A: Unpaid for 2 Year + Current year 8000000*12%*2 + 8000000*12% = 2880000
Q: Jaez Corporation is in the process of going through a reorganization. As of December 31, 2020, the…
A:
Step by step
Solved in 2 steps
- Your sister placed her graduation gifts amounting to P25,000 in a special savings account that provides an interest of 2% for 8 months. Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario using a simple interest assumption and compound interest assumption.Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario below using a simple interest assumption and compound interest assumption.On the 7th birthday of Kim, her mother deposited an amount in a bank peso bond fund that pays 1% interest compounded annually. How much her mother deposited if she receives an amount of Php100,000 on her 18th birthday? Round off your answer in 2 decimal places.
- A recent high school graduate received $800 in gifts of cash from friends and relatives. In addition, received three scholarships in the amounts of S, 150 S200, and S.1, 100 If takes all gift and scholarship money and invests it in a 24 - month CD paying 3% interest compounded daily, how much will the graduate have when cashes in the CD at the end of the 24 - months?A father wants to set aside money for his 5-year old son's future college education. Money can be deposited in a bank account that pays 8.28 % per year, compounded annually. What equal deposits should be made by the father on his son's 6th through 17th birthday, in order to provide Php 5507 on the son's 18th, 19th, 20th, and 21st birthday? Round off to two decimal places.Gregorio bought a car with funds borrowed from a commercial bank. He intends to repay the note with its income of P750,000 to be paid in 270 days. Given a 12% discount, find the proceeds.
- Ericson deposited PhP 35,000 into his savings account that earns 4% interest. How much will he have after 18 months?A father wants to set aside money for his 5-year old son's future college education. Money can be deposited in a bank account that pays 8.98% per year, compounded annually. What equal deposits should be made by the father on his son's 6th through 17th birthday, in order to provide Php 5002 on the son's 18th, 19th, 20th, and 21st birthday? Roud off to two decimal places.Mrs. Quiton deposited Php 120,000.00 into a college fund at the beginning of every month for 10 years . The fund earns 9% annual interest , compounded monthly . She paid at the end of the month . How much is in the account right after the last deposit ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Determine the present value of the deposit. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00
- A recent high school graduate received $800in gifts of cash from friends and relatives. In addition, he received three scholarships in the amounts of $450,$600, and$1400.If he takes all his gift and scholarship money and invests it in a 36-month CD paying 2% interest compounded daily (use n=360), how much will the graduate have when he cashes in the CD at the end of the 36-months? The graduate will have how much money when he cashes in the CD.On a boy's seventh birthday, his parents deposited 5,000 in his name in a savings bank paying 2% every three months. Find the value of his savings when he reaches age 21 (Accumulation Factor Method)On the day his baby was born, a father decided to establish a savings account for the child’s college education. Any money that is put into the account will earn an interest rate of 8% compounded annually. The father will make a series of annual deposits in equal amounts of $5,000 on each of his child’s birthdays from the 1st through the 18th, so that he can make withdrawals from the account on the child’s 18th birthday for child's college funds. Find the amount accumulated at the end of child's 18th birthday. (Also draw the cash flow diagram).
