An ideal standard is one that a. uses only historical experience. b. relies on maximum efficiency. c. can be achieved under efficient operating conditions. d. makes allowances for normal breakdowns, interruptions, less than perfect skill, and so on. e. none of these.

Q: Answer the following questions. (a) Who are the stakeholders in this situation? (b) What are the eth...

A: a) The stakeholders are those people who have a interest in the business. They can affect or get aff...

Q: Halep Inc. borrowed $32,000 from Davis Bank and signed a 4-year note payable stating the interest ra...

A: Note payable refers to a negotiable instrument. It represents the claim amount due on the acceptor. ...

Q: The major reason an independent auditor gathers audit evidence is to(1) form an opinion on the finan...

A: The primary purpose of the audit is to express an opinion on the fairness of the financial statement...

Q: Red Corporation was formed in 2016. In that year, it had a net capital loss of $2,000. In 2017, it h...

A: Introduction: Capital loss: Capital is the owners contribution, capital loss means reduction in the ...

Q: Assume the demand for a company’s drug Wozac during the current year is 50,000, and assume demand wi...

A:  

Q: Which of the following statements is most correct? a.Tax preference items for the alternative min...

A: Tax preference items are the types of income that are tax-free and helps in reducing tax. Alternativ...

Q: On January 1, 2022, Splish Brothers Inc. had $1,320,000 of common stock outstanding that was issued ...

A: Definition: Dividends: Dividends are the rewards to the stockholders for investing their money in th...

Q: Illustrate the process work flows in an accounts receivable section of the Accounting Department via...

A: Accounts Receivable refers to the short term money which is due to be received. It is the proceeds o...

Q: Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours....

A: Given: Direct labor-hours = 40,000 hours Fixed manufacturing overhead expenses = $466,000  Actual ma...

Q: Nexians Corporation awarded fixed options to 100 employees on 1 January 20x4 to acquire 20,000 share...

A: Remuneration expense is the expense for the company owner to pay his employees the required remunera...

Q: The following information was taken from the books of Big Boy Traders. Most of thesales take place o...

A:

Q: Compute the direct materials price variance and the direct materials quantity variance. (Inc selecti...

A:

Q: Derby university sells 5900 season basketball tickets at $280 each for its 14 game home schedule. Gi...

A: Unearned ticket revenue = 5,900*$280 Unearned ticket revenue = $1,652,000   Ticket revenue earned = ...

Q: Natalie is thinking of buying a van that will be used only for business. The cost of the van is esti...

A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage ...

Q: Work in Process Account Data for Two Months; Cost of Production Reports Hearty Soup Co. uses a proce...

A: Cost of Production report shows the production & Cost details for a particular period within a d...

Q: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and t...

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in ...

Q: On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with cre...

A: Periodic inventory method: It is a inventory valuation method in which inventory is updated at the e...

Q: 18. During March, Sky Company incurred the following costs on Job 109 for the manufacture of 200 mot...

A: Cost per finished unit of job109=Original cost +Rework cost200 motors=P2,660+P260200 motors=P14.60  ...

Q: The shareholders' equity of ADAM Co on January 1, 2020 appears as follows: 12% Preference share, P20...

A: Share Premium is the excess amount received above the par value of shares for issuing them in the pr...

Q: Country Store, Inc. provides credit to their favorite customers.  On December 31, 2018, the controll...

A: Allowances For Doubtful Debts:-Receivables which are not going to receive in the future, the company...

Q: Natalie is thinking of buying a van that will be used only for business. The cost of the van is esti...

A: since you have posted question with multiple sub parts. we will be solving  first three subparts for...

Q: On October 1, 2020, Mertag Company (a U.S.-based company) receives an order from a customer in Polan...

A: Since the forward exchange rate is utilized to measure the reasonable estimation of the firm commitm...

Q: Dorsey Company manufactures three products from a common input in a joint processing operation. Join...

A: Financial advantage (disadvantage) of further processing = Total incremental revenue - Incremental c...

Q: Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and ...

A: Sales revenue = 75,000 shares x $360 = $27,000,000

Q: Accounting Question

A:

Q: Record entries in general journal form to record the following: Established a Petty Cash Fund, $100...

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc. ...

Q: 2. Miss Sara bought a car from Miss Ayesha for OMR 8500 and used it for 4 months. Later, it was foun...

A: As per the general rule "Nemo dat quod non-habet" which means that no one gives what they do not hav...

Q: Problem 9-33 (LO. 5) Melanie is employed full-time as an accountant for a national hardware chain. S...

A: a.   The office in the home expense of $4,255 is determined as follows:Real property taxes (20% × $3...

Q: In relation to a failed acquisition, a firm of accountants has invoiced ABC Co. for the sum of $300,...

A: a. Provision is required to be made when it is probable that an economic outflow of resources will h...

Q: The shareholders' equity of the ABA Company on January 1, 2020 is presented below: Share capital, P2...

A: Particulars Amount Reacquired 1,000 shares @ P35 P35,000 Reacquired 900 shares @ P38 P...

Q: Examine the main reasons why manufacturing companies are more sensitive to material price variances,...

A: (a) The main reasons why manufacturing companies are more sensitive to material price variances, as ...

Q: Exercise 13-27 (Algo) Estimate Production Levels (LO 13-4) Offenbach & Son has just made its sa...

A: Desired ending inventory  (231,000 / 12 months) = 19,250 units  

Q: (2) On 1 January 2*19 B Co hired a machine under a five year lease. A non-refundable deposit of $500...

A: Non-current liabilities are those liabilities which are not paid in a period of one year. In other w...

Q: Kyung formed a corporation and owns all of the stock. He contributed property with a FMV of $90,000 ...

A:

Q: Kray Inc., which produces a single product, has provided the following data for its most recent mont...

A: Variable product cost per unit includes direct material, direct labor, and variable manufacturing ex...

Q: A company borrows $100,000 by signing a $100,000, 5% note that requires four equal payments of _____...

A: Note payable $100,000 Interest rate 5% Present value annuity of 4 payments at 5% is 3.5460.

Q: can you help me answer A and B

A: Inventory turnover ratio helps to determine that how frequent an entity is selling their inventory a...

Q: Merkley Manufacturing began operations five years ago. On August 13, 2017, a fire broke out in thewa...

A: Previous years sales :       2014                                  2015                             ...

Q: Need help answering question 11 regarding cost allocation

A: There are 3 methods to allocate support department costs:- Direct method Step method Reciprocal met...

Q: Choose the best accounting treatment for each of the following items. Change from straight-line to s...

A: The change in accounting is either changed prospectively or retrospectively. Prospectively means cha...

Q: Orange Corporation was formed in 2017. In that year it had a net operating loss of $2,000. In 2018, ...

A: Formula: Net Income = Revenues - expenses Deduction of expenses from revenues called Net income.

Q: Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two ye...

A:

Q: Kosm Inc. forecasts a positive Free Cash Flow for the coming year, with FCF1 = $10,000,000, and it e...

A: Formulas: