What are some advantages and disadvantages of using net income as a measure of pro ? t-ability?

Q: There are five alternatives for improvement of a road. Determine which alternative should be chosen ...

A: Benefit-cost (B/C) ratio shows the relationship between the annual benefits derived from a project a...

Q: Particulars Debit Credit Cash at bank 14,880 RM RM ТОТAL 680,550 680,550 Capital 1 February 2019 101...

A: Profit and Loss Statement for the year ended 31st Jan, 2021 Particulars Amount (RM) Particulars A...

Q: In a recent balance sheet, Microsoft Corporation reported property, plant, and equipment of 27,804 m...

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as D...

Q: Energy cost per pound, June Energy cost per pound, July $ The cost of energy has appeared to by $ pe...

A:

Q: Wolfe Inc. Wolfe Inc. reports these account balances at January 1, 2016:    Retained Earnings ...

A: Trial balance includes both temporary accounts and permanent accounts. All expenses, losses, and ass...

Q: ost of Units Transferred Out and Ending Work in Process he costs per equivalent unit of direct mater...

A: Direct materials: It refers to the goods that are consumed during production of the product. Cost of...

Q: The maker of Winglow is purchasing a new stamping machine. Two options are being considered, Rooney ...

A: Variable cost refers to the cost which varies with the change in level of production whereas fixed c...

Q: 3. The following details apply to a contract where performance obligations are satisfied over time a...

A: As per IFRS 115, revenue on construction contract is recognized over the period of contract and ther...

Q: Post this transaction itno ledger and make a trail balance

A: Journal entries are passed in the books of accounts to record every single transaction. In this one ...

Q: 19. Assume a beginning inventory of $32,000, ending inventory of $51,000, and purchases of $135,000....

A: Cost of goods sold = Beginning Inventory + Purchases - Ending Inventory = $32000 + $135000 - $51000 ...

Q: Problem 13 prepare the Trading and Profit and Loss Account for the year cnded 31st March 20X2 and a ...

A: Step 1 Final accounts are the financial reporting statements of the entity.

Q: You are the audit manager at KPMG & Coopers a medium-sized audit firm undertaking the audit for ...

A: b. Debtors- Valuation and presentation & disclosure Sales- completeness, valuation.

Q: What is a primary control for determining the accuracy of a business’s record keeping?

A: In the era of computers, it is not that hard to determine the accuracy of record keeping, various ac...

Q: 1. What is financial intermediation? 2. State five benefits of financial intermediation. 3. Differen...

A: Comments; Multiple Questions asked   Financial intermediation It is a mechanism whereby surplus fund...

Q: Effect of Transactions on Accounting Equation a.  A vacant lot acquired for $346,000 is sold for $66...

A: a.  A vacant lot acquired for $346,000 is sold for $668,000 in cash. What is the effect of the sale ...

Q: Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Su...

A: Taxable income: It is the part of the income which is taxable in the hands individual.

Q: With regards to Australian Taxation Laws and Case Laws, MJ Limited purchased machinery for $50,000 f...

A: Tax laws are the rules and Standards which has to be followed by the taxpayer while paying taxes.

Q: short notes on: written management representations, audit completion memorandum, The management lett...

A: Audit is the term which is defined as the independent examination of the entity financial informatio...

Q: 6. Trini Company had the following transactions for the month. Number of Units Cost per Unit Beginni...

A: The Inventory can be evaluated using different methods like : 1. FIFO, older unit would be sold firs...

Q: Find the proceeds of a​ non-interest-bearing promissory note for ​$3575.51​, discounted 26 months be...

A: Step 1 As per US GAAP, In financial instruments,  Net proceeds  is an discounted value at market rat...

Q: Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on...

A: The income tax on an individual's income is computed on the basis of different slabs of income. The ...

Q: Statz Company had sales of $1,600,000 and related cost of goods sold of $1,150,000 for its first yea...

A: Customer refunds payable=Sale×1.5%=$1,600,000×1.5%=$24,000

Q: Lord Aguilar Corp plans to declare and distribute a dividend in December 2016. There are 20,000 shar...

A: The percentage portion of net profit paid to the shareholders during each accounting year is known a...

Q: The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac  2020:  Par...

A:     Financial statement is prepared from the trial balance which include :- Profit and loss and oth...

Q: The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac  2020:  Par...

A: A Balance sheet(B/S) represents the financial standing of any entity at a specified date. Thus, it i...

Q: your line manager wants to assess your understanding and ability to prepare and produce the appropri...

A: Trial balance as of December 31 and adjustment entries are given Therefore, before preparation of fi...

Q: Hello, I need help

A: Gross profit=Net sales-Cost of goods sold=$540,000-$324,000=$216,000

Q: Explain Traffic Acquisition Costs (TAC), Other cost of revenues and R&D expenses. Are they fixed or ...

A: Cost of revenue refers to the cost which are incurred in generating revenue of a firm. It may includ...

Q: Stylon Co., a women's clothing store, purchased $18,000 of merchandise from a supplier on account, t...

A: Sales discount = Net sales x discount rate = $18,000 x 1 5 = $180

Q: Venus Robotics can produce 25,000 robots a year on its daytime shift. The fixed manufacturing costs ...

A: The unit manufacturing cost is the cost incurred in production one unit of output. It can be determi...

Q: Q8) Jobs arrive at specific printing company in a Poisson stream at the rate of two jobs per 24-hr d...

A: Expected cost per day refers to the expected cost(costs which will probably occurs) of the job per d...

Q: MJ Limited purchased machinery for $50,000 for its operations on 1 October 2015 and has been using i...

A: Facts of the case:It is clear from the case that the maintenance was perhaps an improvement and not ...

Q: Why might firm decide to implement only certain modules in an an ERP system rather than a complete i...

A: ERP is a software used by companies in managing their operating activities electronically in a more ...

Q: Subject income tax Nicole and Nicolas, CPAs, a partnership of Certified Public Accountants, had a gr...

A: This is the case of general Professional Partnership as it is the partnership firm of two Certified ...

Q: Lowest to highest authority in federal tax law systems

A:

Q: Identify and discuss   the limitations of financial     statements

A: Limitations of financial statements- The financial statements contain only past data- The financial...

Q: Prepare the necessary adjusting entries for the year at December 31, 20x2 and reversing entries at J...

A: Journal entries indicate the record of the entity’s day to day business-related transactions and eve...

Q: Genuine Accessories Inc. uses a perpetual inventory system and records purchases at the net cost and...

A: Income statement: A financial statement that reports the revenue earned by the company and expenses ...

Q: For the two independent cases that follow, determine the missing amount for each letter. (Hint: You ...

A: Income Statement & Balance sheet is the part of financial statements which shows the net profit/...

Q: The only accurate way to account for the success or failure of an entity is to accumulate alltransac...

A: Consistency  : It is about following the accounting principles, accounting standards and recommended...

Q: The president of the Lamda wholesale company, which markets a single product, requests an expectatio...

A: The variance is calculated by taking the difference between two costs or volumes.

Q: Discuss four conditions necessary for effective budgeting.

A: Budgeting: The budgeting is a process of preparing budgets and the evaluation of it to see whether t...

Q: hello, I need help

A: Formula: ROI = Income / Investment value Division of income with investment derives the ROI.

Q: hello, I need help

A: Ratio analysis is a method of measuring the financial position of the organization with different ki...

Q: Margin of Safety

A: Margin of safety refers computation of how much output or sales level can fall before a business rea...

Q: Western Truckling Company (a US based company) needs to expand its facilities. In order to do so, th...

A: Cash Flow Statement is a part of the Financial Statement of a company. It literally means a statemen...

Q: Carlos and her very close associate Liggayu formed a partnership on Jan. 1, 2020 with Carlos contrib...

A: In a partnership, two or more parties agree to operate and manage a business and share the profits o...

Q: Enter the transactions in chronological order, calculating new inventory on hand balances after each...

A: The numerical has covered the concept of FIFO Method Under Perpetual Inventory. FIFO:- The Full form...

Q: At 31 January 2020 the following trial balance was extracted from the books of Yusiti.  Particu...

A:     Financial statement is prepared from the trial balance which include :- Profit and loss and oth...

Q: Question 5: International energy drink giant Energica Turkey's regional sales manager Hakan Çokbilir...

A: The initial capital required is $20 million. 50 million liters of energy drink will be produced at a...