Expenditures—Operating—Salaries.......................................... Cash................................................................................ Salaries Payable for example? Incurred salaries of $300,000 $280,000 of which was paid. Where do i put these salaries
Q: 1)Based on the above, when the company produces 24,000 units, total variable costs will be…
A: 1) B) 600,000 + 768,000 + (553,200 - 1,200) + 384,000 + (288,950 - 950) 2) A) $67,150 3) C)…
Q: H and I are partners sharing profits and losses in the ratio of 6:4 respectively. On January 2, the…
A: Admission of partner means where the new partner is admitted in to the partnership who bring his…
Q: Chapter3 PROBLEMS The following information is extracted from the general ledger of Super Massage…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: A and B will contribute 150,000 each and C will contribute 50,000 plus his skill. They agreed to…
A: Correct amount of the total partnership capitalization = Amount contributed by A + Amount…
Q: January 3 Purchased equipment for $55000, paying $45000 in cash and signing a 10000, 4-month, 10%…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Discuss the rules for related party loss limitations.
A: The IRS has define rule regarding the transactions with the related parties and the treatment of…
Q: We have seen that over long periods, stock investments have tended to substantially outperform bond…
A: An investor's investment horizon seems to be the period of time he or she is ready to keep a…
Q: 28. A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: A nonresidential building was put into service for $200,000 in late February. The building was sold…
A: Depreciation It is important to find out the depreciation cost which are incurred to the assets of…
Q: Meanwhile, the property proposed another option that will still allow the company the use of the…
A: The answer for the question on acquiring a property is discussed hereunder : Here, Pierogi Corp has…
Q: kavita purchased a machine for Rs. 80,000 on 1st April, 2015. She charged depreciation on SLM basis…
A: Depreciation refers to a decrease in value of an asset over its useful life due to the factors such…
Q: Sanjay Company has monthly fixed costs of $112,000. The variable costs are $5.00 per unit. The sales…
A: Formula: Sales revenue = Total sales price per unit x Sales units
Q: otal assets of the Company are $81000 and its owner's equity is $61000. What is the amount of it
A: Liabilities = Assets - Owner's equity
Q: . A local partnership was in the process of liquidating and reported the following capital balances:…
A: Liquidation When a business is unable to pay off its debts and due obligations and the business came…
Q: A firm operated at 80% of capacity for the past year, during which fixed costs were $201,000,…
A: Marginal costing is the one widely used by the management to determine the impact of increase and…
Q: On December 31, 2018, Amy and Kaye have capital balances of P400,000 and P320,000, respectively. On…
A: Partnership Account - A partnership is a mutual agreement enter into two or more entities for the…
Q: Calculate the loss accruing to each partner for 2019/20 and explain in detail of partner's what…
A: A partnership is a formal arrangement for two or more organizations to control and run a business…
Q: Using the following balance sheet and income statement data, what is the debt to assets ratio?…
A: Lets understand the basics. Debt equity ratio indicates that, how much much debt is there in compare…
Q: I. It is possible to invests assets into the partnership and be given zero capital credit. II. Total…
A: In the above question, we have to identify whether the mentioned statements are True or False.
Q: 13. AAA has a receivable from Client QRC amounting to P850,000 with existing credit term of 10/45,…
A:
Q: Scenario: The 2021 comparative balance sheet and income statement of Auga Company Ltd, have just…
A: Cash Flow Statement - Cash Flow Statement show the movement of cash during the financial year. The…
Q: The assets and liabilities of Thompson Computer Services at March 31, the end of the current year,…
A:
Q: A company provides each of its directors with a car. It has purchased these at £35,000 each. After 4…
A: Residual Value after 4 years = Cost x 40% = £35000 x 40% = £14000 Annual Rate of Depreciation = 1 -…
Q: How much is the realized gross profit during 2013? How much is the Construction in Progress at the…
A: Answer:
Q: 21. A promissory note which is dated January 1, 20A was received from a client for service rendered…
A: Promissory Note- It's a document that spells out the terms of the loan and indicates when it's due…
Q: T year and provid
A: Personal loan= $50, 000, Interest rate= 2.5% pa.
Q: A local partnership was considering the possibility of liquidation since one of the partners (Ding)…
A: Partnership characteristics incudes: Existence of an agreement Existence of business Sharing of…
Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…
A: The contribution per unit and number of minutes to produce the products are different for the two…
Q: Wexpro, Incorporated, produces several products from processing 1 ton of clypton, a rare mineral.…
A: Introduction:- A cost is the amount of money spent to create something or provide a service that is…
Q: he partnership agreement of Zuniga, Armenta & Galang provided for the year end allocation of profit…
A: Solution Working note for allocation of profit to 3 partners Total profit = 500000 First To…
Q: formation. Pamu contributed a parcel of land that cost her P200,000. Kevin contributed P300,000…
A: partnership is : two or more parties in which they to share profit and capital in the aggred ratio…
Q: Viktor Hovland purchases land with natural gas reserves for $500,000. He expects to extract 2,000…
A: The depletion of land will be as per the units extracted at end of year 1.
Q: Flu Buster Ltd manufactures a type of oral flu vaccine in capsules. These are produced in three…
A:
Q: At 31 October 2006 Zaid owed his suppliers $13,856. During the year to 31 October 2007, his payments…
A: Formula: Credit purchases = Ending payable balance + payment during the month - Beginning payable
Q: Use the following to answer questions 1 – 5 Reporting Method A. Current Liability B. Long term…
A: Balance sheet: Balance sheet is an accounting report that furnishes an overall financial status of a…
Q: Statement 1 – If partners X, Y and Z agreed to divide profit in the ratio of 1:2:3, this indicated…
A: Profit sharing ratio is the proportion in which profit or loss is shared among partners of a…
Q: On January 1, 2019 Zhavy Co. leased office furniture from Cherry Co. under operating lease. Payments…
A: Security deposit and initial direct cost shall not be considered as rental income
Q: a) Carefully explain the major differences between the Keynes' and Fisher's models of consumption.…
A: You have posted multiple-part questions, so as per Bartleby policy only the first three interlinked…
Q: Kay Leni Tayo issue 50,000 of its P5 par value common stock for the net assets of AngatBuhay.…
A: Calculation of Fair Value of Identified Net Assets: Current Assets…
Q: Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31…
A: A flexible budget performance report is a report that is prepared by the management to have a…
Q: X Company manufactures a single product. Monthly production costs incurred in the manufacturing…
A: Solution.. Total Fixed cost remain same at all level of production . Hence total fixed cost will…
Q: Show Attempt History Current Attempt in Progress Byrd Co. uses the percentage-of-receivables basis…
A: Account Titles and Explanation Debit Credit Bad Debts Expense $ 5,200 Allowance…
Q: On January Ist, 2009, an entity's balance sheet showed a total asset of $850 and total liabilities…
A: Formula: Accounting equation: Assets = Liabilities + Owners equity
Q: TRUE or FALSE. In discounting of customer’s note under conditional sale, an account “Note…
A: Solution Concept Discounting of customers note It means that when we receive the note…
Q: how does the financial manager affect the firm's overall business strategies
A: The financial manager must examine both the short-term and long-term repercussions of the firm's…
Q: The transfer price is a revenue to sales devision and cost to the buying devision. Say true or False…
A: Transfer price is a price at which a transaction of two related divisions of the same corporation…
Q: On April 1, a company provides services to one of its customers for $13,000. As payment for the…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Hagstaff Company has budgeted July production of 6.900 units. Variable factory overhead is $13 per…
A: Budgeted overhead means that estimated amount of overhead to be incurred in future on the basis of…
Q: For each transaction, indicate how the item would appear on the cash flow 14. An P80,000 loan was…
A:
Q: When you take your job, you decide to start saving for your retirement. You put $5,000/yr into the…
A: Future value of Annuity = Annuity Amount x Future Value Annuity Factor Future Value = Present Value…
Expenditures—Operating—Salaries..........................................
Cash................................................................................
Salaries Payable for example? Incurred salaries of $300,000 $280,000 of which was paid. Where do i put these salaries.
Step by step
Solved in 3 steps
- .......................................................................................... The length of the maximum payback period depends on: Select one: a. profits from projects only b. The type of project and the financial situation of the company c. size of projects and companies d. complexity of projectsTrouble Company has provided the following data: Sales........................................................... $5,000,000 Interest expense......................................... $30,000 Total assets, beginning of year .................. $185,000 Total assets, end of year ............................ $215,000 Tax rate ...................................................... 30% Return on total assets ................................. 15.5% Tribble Company's net income was: A) $1,000 C) $22,000 B) $31,000 D) $10,000Record each of these transactions 1 Cash………………………………………. 300,000 Capital Stock…………………………………………… 300,000 Issued capital stock at $60 per share 4 Diagnostic Equipment……………………250,000 Cash………………………………………………… 100,000 Notes Payable……………………………………… 150,000 Purchased equipment, paying part in cash and signing a note payable for the balance 12 Account Payable…………….......6,000 Cash…………………………………. $6,000 Paid account payable to Zeller Laboratories 19 surgical supplies……………………4,000 Accounts Payable……………………… $ 4,000 25 Cash…………………..80,000 Accounts Retrievable…………………….. 80,000 30 Dividends……………$50,000 Cash…………….. 500,000 ADDITIONAL REQUIREMENT FOR 3.2 Posting of transaction from General Journal to T-Accounts Prepare trial…
- Q.1 Following information relates to the Snowball Manufacturing Company: Direct materials……………………………………………. $25,000 Indirect materials………………………………………….. 5,000 Direct labor………………………………………………… 30,000 Indirect labor……………………………………………….. 4,500 Factory overhead (excluding indirect materials and indirect labor) 15,000 Plant cost 500,000 Required: Compute the prime costs, conversion costs, and product costs? Q.2. Allure Company produces women’s clothing. During 2004, the company incurred the following costs: Factory rent 265,000 Direct labor 325,000 Utilities-Factory 88,000 Purchases of direct materials 465,000 Indirect materials 70,000 Indirect labors 35,000…Dinner (per person) . . . . . . . . . . . . . . . . . . . . . $7Favors and program (per person) . . . . . . . . . . . $3Band . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,500Tickets and advertising . . . . . . . . . . . . . . . . . . . $700Riverboat rental . . . . . . . . . . . . . . . . . . . . . . . . $4,800Floorshow and strolling entertainers . . . . . . . . . . $1,000The committee members would like to charge $30 per person for the evening’s activities.Required:1. Compute the break-even point for the Extravaganza (in terms of the number of persons that must attend).2. Assume that only 250 persons attended the Extravaganza last year. If the same number attend this year, what price per ticket must be charged to break even?3. Refer to the original data ($30 ticket price per person). Prepare a CVP graph for the Extravaganza from zero tickets up to 600 tickets sold.Raw materials……………………………………………………………….P 1,400,000 Advances for materials ordered…………………………………………. 200,000 Work in process……………………………………………………………. 650,000 Unexpired inventory insurance…………………………………………. 60,000 Advertising catalogs and packaging cartons…………………………. 150,000 Finished goods inventory in the warehouse…………………………... 2,000,000 Finished goods in the company owned retail store, stated at 50% mark-up on its cost…………………………………………………… 750,000 Finished goods in the hands of consignees including 40% profit on sales…………………………………………………………. 400,000 Finished goods in transit to customers, Shipped at FOB-Destination stated at cost…………………………………………………………… 250,000 Finished goods out on customers’ approval, at cost…………………. 100,000 Unsalable finished goods, at cost………………………………………. 50,000 Office stationeries and supplies………………………………………… 40,000 Materials in transit,…
- #8Aaron Moses Company prepared the tabulation below at December 31, 2020.Net Income ............................................................................................................ $500,000Adjustments to reconcile net income to net cash provided by operating activities:Depreciation expense, $63,000 ..................................................................... ______Decrease in accounts receivable, $50,000 .................................................... ______Increase in inventory, $23,000 ....................................................................... ______Increase in accounts payable, $15,300 ......................................................... ______Increase in interest receivable, $7,000 .......................................................... ______Increase in supplies, $6,000 .......................................................................... ______Decrease in income taxes payable, $7,500…Describe the events that correspond to the following two journal entries:Questions For Review of Key Topics1. Inventory .................................................................................................................................. 20,000Accounts payable ............................................................................................................... 20,0002. Accounts receivable .............................................................................................................. 30,000Sales revenue ...................................................................................................................... 30,000Cost of goods sold ................................................................................................................. 18,000Inventory .............................................................................................................................. 18,000Information taken from Tuscarora Paper Company’s records for the most recent year is as follows: Direct material used ............................................................................... $290,000Direct labor ............................................................................................. 100,000Variable manufacturing overhead .......................................................... 50,000Fixed manufacturing overhead .............................................................. 80,000Variable selling and administrative costs .............................................. 40,000Fixed selling and administrative costs ................................................... 20,000 Required:1. Assuming Tuscarora Paper Company uses variable costing, compute the inventoriable costs for the year.2. Compute the year’s inventoriable costs using absorption costing.
- Information taken from Allied Pipe Company’s records for the most recent year is as follows: Direct material used .....................................................................................$340,000Direct labor ........................................................................................................160,000Variable manufacturing overhead ............................................................. 75,000Fixed manufacturing overhead ................................................................. 125,000Variable selling and administrative costs ............................................. 70,000Fixed selling and administrative costs .................................................... 37,000 Required:1. Assuming Allied Pipe Company uses absorption costing, compute the inventoriable costs for the year.2. Compute the year’s inventoriable costs using variable costing.5. QR Code Inc. sales two products: Queen and Pia. Data concerning the company for March follows: Product Queen Product Pia Sales..................................................................... 200,000 300,000 Variable Expenses................................................ 50,000 100,000 Traceable Fixed Cost........................................... 80,000 150,000 In addition, there were common fixed expenses of 70,000 in March. What was the segment margin for Product Queen? 6. Same data in no. 5. Suppose advertising for product Pia is increased by P20,000 per month, which results in an increased in sales of P90,000 per month. With this, what would be the effect and the amount on Product’s Pia monthly segment margin? put solutionfor example on this question. Received bill from the water and sewer department for services, $7,500; $4,000 was paid. Expenditures—Operating—Utilities........................................................ Cash................................................................................ Due to Enterprise Fund..................................................... To record water and sewer expenditures.