Question Parilo Company acquired $158,400 of Makofske Co.r 6% bonds on May 1, 2016, at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, 2016, Parilo Company sold $47 400 of the bonds for 95. Journalze entries to record the following (referto the Chart ofAccounts for exact wording of account tities): May 1 nitial acquisition of the bonds Nov. 1 Sem nnual interest received 1 Sale of the bonds Dec. 31 Accrual of $1,110 interest

Q: Company B specializes in cleaning apartment carpets. Consider the following data where volume = numb...

A: Please see the next step for the solution 

Q: A drilling company purchased a mining site for $450,000 on July 1, 2016. The company expects to mine...

A: Depletion per ton = (Purchase cost of mine - residual value) / Expected tons of mine ore = ($450,000...

Q: Elaborate on the relevant factors that need to be considered when deciding to expand Yalla Momos

A: 1. Company history: The Yalla Momos Expansion Dilemmas of a Small Business case study consists of th...

Q: Apollo Corporation produces and sells a single product, sewing machines, for $100 per unit. Budgeted...

A: The cash budgets are prepared to estimate the cash balance in the business. 

Q: Gent Designs requires three units of part A for every unit of A1 that it produces. Currently, part A...

A:

Q: During the current year, Sokowski Manufacturing earned income of $270,000 from total sales of $4,500...

A: Sales margin Formula = Income earned/Total sales  

Q: John Mason is the owner and president of Digital Imagery and More Ltd., a company in the multimedia ...

A: Accounting Principles- These are the general principles which are to be followed by every company wh...

Q: The financial manager of a firm wants to determine the amount of cash outlays to be spent for the ne...

A: Given: To prepare the optimum and average cash, number of conversion and total cost is given as,

Q: MZE Manufacturing Company has a normal plant capacity of 37,500 units per month. Because of an extra...

A: Monthly fixed costs and expenses are irrelevant costs because they will not increase with the additi...

Q: IvanhoeFurniture Company started construction of a combination office and warehouse building for its...

A: Please see the next step for the solution 

Q: Weissmeiss Ltd. use a standard costing system for all its products. The footballs they produce have ...

A: Sales price variance = (ASP - BSP) * ASQ

Q: Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing acco...

A: Dividends (assume accounts have normal balances). Equipment was recently purchased, so there is neit...

Q: Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful li...

A:

Q: Jamie Hopen, CPA, prepares tax returns. The production costs and the number of tax returns prepared ...

A: The cost of services sold includes direct materials, direct labor, and overheads. CPA staff salaries...

Q: Armstrong Co.’s balanced scorecard lists performance measures that belong to the following four pers...

A: The balance scorecard is a management system aimed at translating an organization's strategic goals ...

Q: The following selected data pertain to the belt division of Allen Corp. for last year:   * Sales $2,...

A: Given the following information: Sales: $2,000,000 Average operating assets: $500,000 Net operating...

Q: Calcion Industries produces two joint products, Y and Z. Prior to the split-off point, the company i...

A:  working notes : Product Y allocation =$35,000/(30 +70 ) * 30 =$10,500 Product Z allocation=$35,000/...

Q: A business compiling its accounts for the year to 31 January each year pays rent quarterly in advanc...

A: Rent for the first five months (i.e. Feb to Jun) will be computed assuming rent for the year is $240...

Q: In a process costing system, which of the following would be TRUE? a.There is no need to use time t...

A: The answer for the multiple choice question and relevant explanation are presented hereunder : Proce...

Q: An investor chooses to support your new venture by investing $400,000. At a tax rate of 20%, the inv...

A: Target Profit After tax = $400,000 x 8% = $32,000 Target Profit Before tax = $32,000 / 80% = $40,000...

Q: Ram Co. is trying to decide whether or not to discontinue one of its products, slow cookers. Last ye...

A: Variable cost means the cost which vary with the level of output and fixed cost means the cost which...

Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Na...

A: (a) Filing Status - Head of the Household (b) Taxable Income - $ 195,300 (c) Since Taxable Year is n...

Q: If $4,000,000 of 12% bonds are issued at 103 1/4, the amount of cash received from the sale is:

A: Number of bonds=Par value of bondsPer share value=$4,000,000$100=40,000

Q: The Greenback Store’s cost structure is dominated by variable costs with a contribution margin ratio...

A: Please find the answer to the above question below:

Q: The appropriate cost accounting system to use when inventory items are produced on an assembly line ...

A: 1. Perpetual System: in perpetual inventory system sale and purchase is recorded immediately.   2. J...

Q: Company X provides the following operations from current operations: Sales volume = 10,000 units, pe...

A: Contribution margin = Sales - Variable cost   Contribution margin per unit = Selling price - Variabl...

Q: what are the different form of business organization. Explain and write down there advantages and di...

A: By different form of business organization, it means the different structure of business ownership, ...

Q: In 20x1, Seth Wholesalers transferred goods to a retailer on consignment. The goods cost P225,000 an...

A: Excel workings:

Q: a. Determine the inventory cost by the first-in, first-out method. Round your answer to the nearest ...

A: The first in first out method is means when a company issue the inventory which is purchased first. ...

Q: What are the different forms of business organizations? write down there advantages and disadvantage...

A:

Q: Management of Great Springs Bottled Water Company has asked you, the controller, to develop a transf...

A: Note: As per the policy we are supposed to solve one question at a time. Kindly repost the further q...

Q: An asset (not an automobile) put in service in June 2019 has a depreciable basis of $535,000 and a r...

A: Depreciable basis on how much value of asset depreciation is to be charged and MACRS is Modified Acc...

Q: Under FIFO, beginning cost balance is not included. Please round to the nearest centavo

A: The Cost per equivalent unit (rounded to nearest centavo) under FIFO.   Statement showing Equivalent...

Q: Which of the following is true of a production report prepared under a process-costing system? a. I...

A: Process costing is a cost accounting system in which production is carried out at multiple stages kn...

Q: Last year Collins Company introduced a new product and sold 20,000 units of it at a price of $50 per...

A: 1. CM Ratio= It is Contribution margin ratio    CM Ratio= Contribution/Sales    Contribution = Sales...

Q: With a given information below: (A) Prepare Income Statement and Balance Sheet in the Year 2020. (B)...

A: Income Statement is the financial statement depicting the profitability position of an entity and ba...

Q: Collins Co. produces 10,000 units of sewing machines annually. Per unit data are given below:   ...

A: Variable selling and administrative expenses for special order = Variable selling and administrative...

Q: duct

A: The right Answer is b Long -term nature of most Product-related decisions.

Q: Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, ...

A: Manufacturing cost Manufacturing cost consist of mainly three parts.  The details are given below D...

Q: What is the difference between tax avoidance and tax evasion?

A: Taxes are liabilities to be paid to individuals to the government like income taxes, indirect taxes ...

Q: Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding ...

A: Uncollectible accounts are those accounts from which amount may not be collected because debtors are...

Q: What is meant by noncurrent liabilities? Define it? And provide one NCL account for emirates     ple...

A: Non-Current liabilities are shown in the balance sheet.

Q: Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the up...

A: working notes: =192*0.5*2=192  

Q: When products and their costs are moved from one process to the next process, these costs are referr...

A: Process costing is a method of costing used to ascertain the cost of a product at each stage or proc...

Q: 1) Prepare the journal entries for each Transaction. 2) Post journal entries to T-accounts 3) Prepar...

A: 1)   Date Particulars   Amount (Dr.) Amount (Cr.) 1-Dec Cash A/c   30000     Truck A/c   8000...

Q: What are the invested capital and ROI for Macon? Enter your answer in whole dollar. Round "ROI" answ...

A: Invested capital refers to the amount that is raised by the company from the issue of securities suc...

Q: Compute Total fixed expenses for Waymire.

A: Particulars  Division A   Working   Division B   Working   Total  Sales   1,20,000.00 60% of Total...

Q: John is planning to travel to a country where there is some risk of contracting yellow fever. The di...

A: Opportunity cost = $25/hour Direct market price = $125 Normal salary = $1,000

Q: Exercise 7-48Depreciation Methods Berkshire Corporation purchased a copying machine for $8,700 on Ja...

A: Straight Line Method Depreciation Expense = Cost of Asset - Residual ValueExpected Useful Life Doubl...

Q: Company Q produces and sells 50 products. However, TWO products remain the best sellers. Of TOTAL sa...

A: Breakeven Analysis The purpose of taking analysis of breakeven to find out the actual quantity of th...