Define what is meant by economic order quantity.

Q: Mikoy is a firm engineer receiving a basic monthly salary of 45,000.00 and commission on al sales of...

A: Gross earnings= basic salary plus 2% commission on sales

Q: Prepare journal entries for the following credit card sales transactions (the company uses the perpe...

A: 1. Credit card expense = $21000*5% = $1,050 2. Credit card expense = $5,100 x 4% = $204

Q: Company A began operations in the current year. The entity used perpetual inventory system.     Du...

A: If the creditors pay their dues on time, they get the discount on their dues from the suppliers. The...

Q: Oh no! Our expert couldn't answer your question. Don't worry! We won't leave you hanging. Plus, we'r...

A: When some input is in limited capacity , then we need to find out contribution per input. For exampl...

Q: Moona Inc. produces Mobile phones. Information of thecompany's operations last year appear below:   ...

A: Introduction: Income statement: All revenues and expenses are recorded in Income statement. It tells...

Q: Fifth One,   If you help in 6th. I will provide a thumbsup

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: Amortize Discount by Interest Method On the first day of its fiscal year, Ebert Company issued $18,0...

A: Amortize Discount by Interest Method is a method used to discount a bond. Discount of the bond sold ...

Q: Depreciation for Partial Periods Storm Delivery Company purchased a new delivery truck for $69,000 o...

A: Depreciation - Depreciation refers to the fall in the value of fixed assets due to wear, and tear.  ...

Q: As a student, do you feel the effects of train law? If yes , how does it affects you? If no, why do ...

A: Train law is briefly known as Tax Reform for Acceleration and Inclusion law. It is signed into law o...

Q: What is in blue and says "formula" so and so is what i need help with. Please and thank you

A: Cost of goods sold refers to cost directly related to producing goods. It does not include indirect ...

Q: Q1. You are provided with the following information for Diana Inc. for the month ended December 31, ...

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: 4. Five years ago, a company in New Jersey installeda diesel-electric unit costing $50,000 at a remo...

A: Capital budgeting is a way to evaluate profitability of the new projects or investment by using vari...

Q: Chuck, a single taxpayer, earns $77,000 in taxable income and $10,000 in interest from an investment...

A: Taxable income: It is the amount of income that is used to compute the amount tax has to be paid by ...

Q: Explain the purpose of the income statement and thestatement of cash flows.

A: Income statement: Under this Statement showing the company’s performance over a period of time by su...

Q: An entity sells goods for ₱150,000 to a customer who was granted a special credit period of 1 year. ...

A: Account receivable are the due payment held by the customer to whom firm have rendered services or p...

Q: Identify two different types of deductions that an employer is required to subtract from a paycheck ...

A: There are several deductions from paycheck but two are absolutely necessary other are optional.

Q: Use the following information for the next questions:A trial balance before adjustments included the...

A:   Adjustment amount = Desired balance of allowance for doubtful account (credit) - existing balance ...

Q: A company has four production departments. Fixed costs are as follows: Department £ Hours taken A 10...

A: Given information: The fixed cost of each department is given as follows: Department A = £10,000 Dep...

Q: Wookie company issues 10% five year bonds on January 1 of this year with a par value of $200,000 and...

A: The issue of bond is a practice to raise loan for companies. The investor promises to pay the define...

Q: Financial information should be neutral and bias free" is the dictation of which one of the followin...

A: Fund: The fund is defined as a source that is raised by the organization to support its project. It ...

Q: Zeal Corporation is thinking about the dropping of its product Z. Sales of the product total Rs.400,...

A: Profit with Product Z=Sale-Variable expense-Fixed cost=Rs 400,000-Rs 270,000-Rs 150,000=Rs 20,000

Q: (e) When sales increase by 1%, which of the following should increase by more than 1% in a merchandi...

A: Sales - Variable cost = Contribution margin - Fixed cost = Net operating income Sales - cost of good...

Q: Voiture Company manufactures compact, energy-efficient cars. On April 1, it purchased a machine for ...

A: For computing cost of the machine, all cost directly related to machinery until it is put to use sha...

Q: How does job costing and process costing impact a business environment performance and bottom line?

A: The contrast of both: -Product uniqueness and use: Job costing is utilized by-products that are uniq...

Q: Activities/Assessments: Exercise 6-1: Supply the answers to the items marked "?" and support your an...

A: Net sales is determined after deducting sales return and sales discounts from gross sales. Gross pro...

Q: 1.The following accounts and balances were taken from the financial statements of r@ktas Inc. Prepar...

A: A balance sheet is a financial statement that reports a company's assets, liabilities and shareholde...

Q: On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the following ASSETS 2011 2010...

A: Cash flow statement discuss about the flow of cash from different activities like operational, inves...

Q: In a given week, a factory has an activity level of 120% with the following output: Units Standard m...

A: Given that: Activity level = 120%

Q: Compare and contrast the direct write-off method and the allowance method for bad debts. At a mini...

A: Bad debts are those amounts which will not be collected from accounts receivables. To account for th...

Q: Distinguish Financial accounting from Management Accounting

A: Accounting is the process of recording financial transactions that are material to the business. It ...

Q: In developing new system, it is important to analyse the existing system which is currently used. Ex...

A: A system is a mechanism in which different components are interconnected such as; procedures, respon...

Q: What do Investment Bankers such as Goldman Sachs do for a company such as Disney and what do they ch...

A: Investment bankers are the financial advisors to the Corporation and the government.

Q: What does the word balance on the balance sheet mean? Why are the two halves balanced?

A: In the above questions we have asked the meaning of balance in the word balance sheet .

Q: HnH Solutions acquired a machine by making the following payments: Net cash price Rs. 116,000 includ...

A: Journal is a place where journal entries are recorded in the book keeping system before ledger accou...

Q: How calculate accumulated cash flow, discounted cash flow and Accumulated discounted cash flow?

A: For calculating the accumulated cash flows we have to start from year 1 till the year when pay- back...

Q: Analyze the effects of a ​Company's transactions on the accounting equation. Included are the follow...

A: Accounting Equations:- Accounting equation is also known as the balance sheet equation that shows th...

Q: Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning ...

A: The inventory management will include ordering of goods, storing/holding of goods, work in progress ...

Q: What is "Effective Annual Interest Rate". Explain it by numerical examples.

A: The Effective Annual Interest Rate (EAR) is the interest rate that is used for adjustment for compou...

Q: Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February...

A: Date Account Debit Credit   Feb 5 Cash $ 1,125,000   =75000*15   Common stock   $ 1,125,000   ...

Q: To reduce in accounting costs, a firm always expenses its routine operating expenditures immediately...

A: The company received P1,200 as a one year rent in advance and it has debited cash account and credit...

Q: How much interest is earned in 4 years on P8,000.00 deposited in an account paying 6% interest, comp...

A: Compounded interest is a method of calculating interest on debts where interest is paid on interest ...

Q: Need Answers

A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by...

Q: Raveen Products sells camping equipment. One of the company’s products, a camp lantern, sells for $9...

A: Given: Selling price per unit = $90 Variable expenses per unit = $63 Fixed expenses = $135,000

Q: 7. What type of risk can you diversify and should you include Global or Foreign stocks in diversific...

A: Diversification is a strategy that helps in reducing the risk by allocating the investment in differ...

Q: First Question is mandatory if you know 2nd & 3rd just choose the option

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: Equivalent units of materials costs The Rolling department of kraus steel company had 5,100 tons in ...

A: Units started and completed during the month = Units completed during the month -  Beginning work in...

Q: Distinguish the following firms costing systems (Process or Job Costing)     An oil refinery  ...

A: Job costing - It relates to custom jobs where cost of materials and labor are used differently for e...

Q: Required: 1. What accounting events trigger changes in the retained earnings account?2. Explain the ...

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: 1. Mr. Raj invested his money amounting to 500,000 in an investment which offers 4% compounded quart...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: Raveen Products sells camping equipment. One of the company’s products, a camp lantern, sells for $9...

A: Reduced selling price=Selling price×100-10%=$90×90%=$81