Co. is funded by both debt and equity with a debt to equity ratio of 100%. If Co. has a retained earnings breakpoint of P1,225,000, the additions to the retained earnings during the year amounts t
Q: Gerardo de Guzman has a taxable compensation income of Php 135 000. He is single with two qualified…
A: As per Philippines laws, there is a mandatory deduction for up to four dependent children of an…
Q: 1. Ray Tech Inc. manufactures Game Consoles. The selling price of each Game Consoles is $699, Raw…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: o ente
A: Liabilities are accumulated financial obligations that result from past events that are expected to…
Q: Consultancy Services, prepares financial statements to an accounting date of 31 Ma each year. During…
A: Explanation of Concept National Insurance Contrition is the payment which is to be made by the…
Q: Compute the July 31 balances of the inventory accounts.
A: Inventory is the raw materials used to produce goods for sale. The working for the closing balances…
Q: Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31,…
A: A cash budget is prepared to estimate the total cash received and total cash disbursement. It is…
Q: A gain or loss on disposal of a plant asset is determined by comparin O replacement cost of the…
A: In the business world, the term "book value" was coined to indicate the current value of a…
Q: Use the following information to prepare the September cash budget for PTO Company, Ignore the "Loan…
A: Budgets are forecasted figures that help in estimating the various incomes and expenses. Budgets are…
Q: question 4 ABC Company purchased equipment on May 1, 2021 costing $1,000,000. Its estimated salvage…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: REQUIRED: What is the deferred tax balance by the end of 2020?
A: Deferred tax refers to the tax difference as per the book profits and taxable income. This tax…
Q: Calculate the value of the fixed manufacturing costs in the opening and closing inventories, using…
A: Solution: Fixed manufacturing overhead per unit = OMR 225,000 / 5000 = OMR 45 per unit
Q: assume that you have recently been invited by a large firm quoted on the kuwait stock exchange to…
A: Answer:- Audit committee:- An audit committee is basically comprises of board of directors…
Q: Employee business expenses are no longer deductible on Schedule A for federal purposes. Why are…
A: As per Schedule A, Employee business expenses are no longer deductible for federal purposes but they…
Q: Kenny Day, manager of Day Laboratory, is investigating the possibility of acquiring some new test…
A: Here we will apply and use the concept of capital budgeting to determine financial feasibility of…
Q: ded the following information at the Atla beginning of the current year: 12% convertible bonds…
A: Given that, Net income for the year = P9,500,000 Tax rate = 30% Ordinary share outstanding at…
Q: The primary source of revenue for a wholesaler is Oinvestment income. service fees. O the sale of…
A: The primary source of revenue is the main sources of income generated through main course of…
Q: 3,000. Thad, a CPA, operates an accounting er LLC (which he reports as a sole proprieto -prietorship…
A: Qualified deduction refers to the allowed deduction for an entity that is $164,900 for the year…
Q: Personally Established Retirement Accounts These days, almost anyone can open personal,…
A: Answer:- Madeline is going to open SEP-IRA plan. Note:- A Simplified Employee Pension (SEP) plan…
Q: he following information is available from the current period financial statements: Net income…
A: Operating cash flow refers to the amount of money a company produces from ongoing, regular…
Q: The following mixed costs relate to a small manufacturing company; Output 50,000 units 80,000 units…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: On December 31, 2021, ORANGE Company owned two assets as follows: Equipment P 100,000 95,000…
A: An impairment test for asset is required when there are indication that any impairment loss may have…
Q: Terminology: Employer-Sponsored Retirement Plans Many employers offer retirement plans as an…
A: The process of determining retirement income objectives, as well as the actions and decisions…
Q: Manama Steel processes a single type of steel. For the current period the following information is…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: Compute BROWN’s earnings per share based on the assumption that the preference share is cumulative.
A: Earnings per share is calculated with the help help following formula Earnings Per Share = Earnings…
Q: lа Сompany provided the rent year: chases chase returns and allowances talincome
A: An income statement is a financial statement that displays a company's revenue and costs. It can…
Q: Stinehelfer Beet Processors, Inc., processes sugar beets in batches. A batch of sugar beets costs…
A: The decision of further processing of joint products is based in incremental analysis. If the…
Q: On December 31, 2018, Welington Company leased a new machine from Daniel with the following…
A: Lease represents the agreement between two parties (known as lessor and lessee). Lessor provides the…
Q: D. YOU Company has 40,000 shares of common stock outstanding that it originally issued for P30 per…
A: The dividend yield ratio is calculated as dividend per share divided by market value per share.
Q: On Jan. 1, 2020, Luna Company granted 60,000 share options to employees. The share options will vest…
A: The Compensation expense is calculated by multiplying the number of stock options granted by the…
Q: (A) Discuss the circumstances that would require a business to change from traditional costing to…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted…
A: Journal entry is the primary step to record the transaction in the books of account. The debit and…
Q: nsultancy Services, prepares financial statements to an accounting date of 31 March ch year. ring…
A: National Insurance Contrition is the payment which is to be made by the persons as per UK laws who…
Q: During Year 3, Anywhere, Inc. (AI) incurred the following product costs. $ 84,000 107,220 69,000 Raw…
A: Total cost = Beginning WIP + materials used + direct labor costs + Overhead cost The cost per unit…
Q: Determine the following as a result of your audit: 1. How much is the correct carrying value of the…
A: Financial liabilities that are held for trading are measured at Fair Value through Profit and Loss.…
Q: Cash balance per books, September 30 $5,300 Deposits in transit 510 Notes receivable with interest…
A: Introduction: Bank Reconciliation statement: To reconcile the difference between cash book balance…
Q: A. Compute the following on RED 1. Inventory turnover 2. Days sales in inventory 3. Operating cycle
A: Financial ratios are those which provide a summary of the accounts of a company and helps an…
Q: Stanley sold a building used in his business and held for 5 years for a $50,000 loss. It is the only…
A: A capital asset is an asset that is held for more than one year whereas, a current asset is an asset…
Q: where did the 57,000 in terms of deprication and the 370,000 beginning balance come from?
A: Introduction:- A cash flow statement denotes total amount cash is inflows and cash outflows your…
Q: Cost Costs $6 - Its average cost per unit for each product at this level of activit Alpha $ 30 Beta…
A: Alpha Beta Direct material $ 30.00 $ 12.00 Direct Labour $ 20.00 $ 15.00…
Q: Which of the following types of messages might the Active Auditor display? Question 9 options:…
A: The Active Auditor displays: Notifications of key dates or deadlines Warnings about possible…
Q: Bluebird Manufacturing hes received a special one-time order for 15,900 bird feederslat $3.90 per…
A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…
Q: Required:1. Prepare a performance report for Marston’s manufacturing costs in the current year.2.…
A: The manufacturing cost is the total cost of all resources used in the manufacture of a product. The…
Q: 1. Identify which type of assets should be classified and measured under these two categories…
A: 1. Financial assets are a type of assets that should be classified and measured under these two…
Q: 13
A: An asset that is worth less than its book or net carrying value is considered impaired. In other…
Q: Land the forward.rates for the Brazilan Real Spot Rate Fow (Delivery c 2021) December 1, 2020…
A: It is a contract under which a business consents to purchase a specific measure of a foreign…
Q: 1. PFRS does not address the accounting for revenue from franchise agreements 2. Under the current…
A: Here student asked for multi question as per Q/A guidelines we will solve for first question for…
Q: n October 1, 2021, A Corp. purchased goods from US based corporation worth 60,500 US dollars.…
A: Solution Concept in respect of the monetary assets and liabilities , there shall be initial and…
Q: Swifty has the following inventory information. 30 units at $18 July Beginning 1. $540 Inventory 90…
A: Introduction: The cost of goods sold is the total of all costs incurred in the production of a sold…
Q: Discuss one aspect of the Statement of Cash Flows that can be difficult and write a short paragraph…
A: Introduction:- A cash flow statement denotes total amount cash is inflows and cash outflows your…
Q: lationary stat
A: Given in question: Balance on December 31, 2021 Machine Acquired on Cost Accumulated…
Co. is funded by both debt and equity with a debt to equity ratio of 100%. If Co. has a
Step by step
Solved in 2 steps
- The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?The total assets of Gs Co. is funded by both debt and equity with a debt to equity ratio of 100%. If Gs Co. has a retained earnings breakpoint of P1,225,000, the additions to the retained earnings during the year amounts toThe total assets of Blue Co. is funded by both debt and equity with a debt to equity ratio of 100%. If Blue Co. has a retained earnings breakpoint of P1,225,000, the additions to the retained earnings during the year amounts to ?
- Examine the following income statement: Approximately how much does the outstanding debt cost shareholders every year? a. $50 b. $33 c. $88At the beginning of the year, Norwood Pass Industries had $240,000 in total assets and a debt-to-assets ratio of 0.5 or 50%. During the year, Norwood's assets increased by $80,000, and its liabilities increased by $72,000. What is the debt-to-assets ratio at the end of the year? Multiple Choice 0.4 or 40% 0.6 or 60% 1.7 or 170% 0.9 or 90%Bulldogs Inc. is funded by both debt and equity and has a total liabilities to total asset ratio of 45%. If the firm has a retained earnings breakpoint of 3,250,000, how much is the additions to the retained earnings during the year?
- The lawrence company has a ratio of long term debt to long term debt plus equity of .25 and a current ratio of 1.5. current liabilities are 900, sales are 6230 , profit margin is 8.1 percent what is the amount of the firms net fixt assets ?The following data is extracted from ABC Bank financial statements for the financial year ended 31 December 2021, equity $600 million, interest expense $190 million, provision for loan loss (P) $28 million, noninterest income $25 million, noninterest expense $45 million and a tax rate is 33%. Calculate the minimum total interest income required to give a return on equity (ROE) of 14%.The Malia Corporation had sales in 2019 of $65 million, total asswets of $42 million, and total liabilities of $20 million. The interest rate on th company's debt is 6 percent and its tax rate is 21 percent. The operating profit margin was 12 percent. What were the company's operating profits and net income? What was the operating return on assets and return on equity? Assume that interest must be paid on all of the debt.
- A company's net income before interest & tax was OMR 400000 for its most recent year. The company's income statement included Income Tax Expense of OMR 140000 and Interest Expense of OMR 60000. At the beginning of the year the company's shareholders' equity was OMR 1900000 and at the end of the year it was OMR 2100000. Long term loan ( Debt) was OMR 800000. Calculate return on capital employed Select one: a. 13.7% b. 16.1% c. 11.7% d. 9.5%Hondo Bank has the following data for the first month of the current year:Interest, commissions, and discounts from lending activities (remaining maturity of instrument is 5 years), P5,000,000Income from financial leasing (remaining maturity of the instrument is more than 5 years), P3,000,000Dividends and equity shares in net income of subsidiaries, P1,000,000Rentals of properties, P500,000Net trading gains within the taxable year on foreign currency, P300,000How much is the gross receipts tax?Stephens, Inc. (SI) reported net income of $120,000 for the fiscal year that just ended and expects net income to grow at 5% per year indefinitely. SI also reported current assets of $700,000, net fixed assets of $220,000 and total assets of $920,00 for most recent fiscal year. SI’s current liabilities of $100,000 and long-term debt of $540,000. Assume that retained earnings is the only other equity account and that current assets and current liabilities vary with sales, but the other accounts do not. Additionally, assume that SI pays out 80% of net income as dividends. What is the addition to retained earnings (by how much will owner’s equity change) forecast for next year? Select one: a. $25,200 b. $32,000 c. $100,800 d. $126,000 e. None of the above.
