Is a Microsoft subscription considered as a prepaid expense? Also, if it's considered or recorded (first) as an asset, when does it turn as an expense?

Q: sells T Shirts emblazoned with the school’s name and logo. The shirts cost $2,000 each and managemen...

A: i.) At EOQ as,

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A:

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A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...

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A: Formula: Balance on December 31, 2022 = Balance on December 1, 2022 + Credit sales during December –...

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A: Lets understand the basics. Financial leverage company EBIT with the EBT of the entity. Formula = EB...

Q: How much will Atty. Diokno receive?

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A: Opening balance of prepaid insurance = 1500 Purchase of prepaid insurance = 30000 Consumption of pre...

Q: 37.What inventory system would you expect to find in the following situations? A. Diamond ring depa...

A: Solution Concept Perpetual inventory system is a system of inventory where the record of inventory I...

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A: Relevant cost appears to be a management accounting term that alludes to avoidable expenses that exi...

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A: The partnership comes into existence when two or more persons agree to do the business together and ...

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A: Meaning: Top-to-Bottom approach: Top-to-Bottom approach is also called imposed style cost estimation...

Q: Superior Interiors is owned and operated by Ken Lopez, an interior decorator. In the ledger of Super...

A: >Ledger accounts are the accounts of various accounting elements. >These accounts are of R...

Q: Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate bas b...

A: Solution Formula used Plant wide predetermined overhead rate            =estimated overhead cost /es...

Q: I:8-52. Business Bad Debt.  Elaine is a physican who uses the cash method of accounting for rax pur...

A: The business entity makes sales on credit to provide short-term finance to their trustful customers ...

Q: from operating activities if the indirect method is used. 1. Goodwill impairment $400,000. 2. Issued...

A: The cash flow statement is prepared to record the cash flow from various activities during the perio...

Q: The Yes Company values its inventory by using the FIFO retail method.. The following information is ...

A:

Q: 1.Sugary Company has the policy of valuing inventory at the lower of cost and net realizable value u...

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Q: Discuss cost functions and assess the importance of causality in estimating cost functions/relations...

A: Cost Function which are explained in the cost Accounting which can be determine the mathematical cal...

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A: Inventory is one of the important current asset for the business. Mostly business prefer to use lowe...

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A: Gross margin percent = 55% Cost of goods sold = $20  

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A: Journal entries are the first record of financial transactions.  

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Q: 7.On March 31, 2021, the warehouse of Cucumber Company was destroyed by fire. The company's markup...

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Q: Use this information about Carmelita Inc. to answer the question that follows. Carmelita Inc. has th...

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question ...

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A: The ledgers are the accounting books of the organization which record all of the financial data incu...

Q: A bond with a face value of $6,000 pays quarterly interest of 3.5 percent each period. Twenty-two in...

A:

Q: mmer provided the following shareholders’ equity on December 31, 2021:   Preference share capital,...

A: Solution Concept Book value per preference share             =preference share capital+ dividend in ...

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A: Activity based costing is one of the type of costing system, which shows that all indirect costs and...

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Q: Kamal invested RM10 000 for 4 years 6 months in Razak Mutual Fund earning a simple interest rate of ...

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A: Cash flows from investing activities includes cash inflows and cash outflows related with purchase a...

Q: f subsequent events on

A: This is a Question relating to disclosure of subsequent events in the audit report and financial sta...

Q: 2. Consider "Optimal Taxation Theory" a) What is its objective? b) Summarize the main principles in ...

A: The study of creating and executing a tax that optimizes a social welfare metric under economic limi...

Q: Evaluate and Integrate the role of quantitative information in making business decisions.

A: Quantitative studies are all about numbers. It makes use of mathematical evaluation and facts to she...

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A: Theory Concept: Net income: All Expenses are to be deducted from the Revenues. If revenues are great...

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A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...

Q: Items 8 – 10 are based on the following information Traders, Inc. uses accrual accounting. Its balan...

A: The budgets are prepared to estimate the requirements for the future period.

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A: Adjustments are increased or decreased the net income of the entity. Revenue adjustments have increa...

Q: VIOLET Company reported total purchases of P 3,200,000 in its accrual basis financial statement on D...

A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are inc...

Q: Provide detailed Income statement

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Q: Assignment 1: Male CLO 2 The following transactions relate to Al-Zafra Police General Fund for the y...

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A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with ...

Q: Scenario: You are presented with the following transactions for 2021 from the books of a business. T...

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Q: P60,000 while Partner Y received P100,000. Partner X’s share in residual income after deducting thei...

A: Partnership in the simplest form of business from by two or more person in order to share their inte...

Q: Chris P. Bacon transfers shares in Ali Manufacturing Inc. to Bacon Holdings Ltd., a corporation whic...

A: Chris transfers shares in Ali Manufacturing Inc. to Bacon Holdings Ltd., a corporation that he contr...

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A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by u...

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A: Weighted Average Cost Method: The weighted average cost technique divides the cost of commodities av...

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A: Average operating assets is recognized as to those assets which are required to conduct the ongoing ...

Q: Use the following tables to calculate the present value of a $774,000 @ 6%, 5-year bond that pays $4...

A: Lets understand the basics. For calculating present value of bond, we need to use below formula. = (...