Current Current Liabilities Current Assets Ratio Edison 88,000 $ 117,040 35,341 MAXT 85,152 Chatter 49,632 54,610 91,786 TRU 95,304 67.672 Gleeson 112,304

Q: 5. For common-size statement of comprehensive income , _______________ is set 100% a. Net Sales b....

A: Common size statement shows vertical analysis of the items of financial statements with respect to o...

Q: A, keepers of garage, whose gross receipts in year 2017 totaled P 3,050,000. In year 2018, the total...

A: Common carriers tax is similar to percentage tax. Percentage tax includes the threshold limit, beyon...

Q: Russia Company provided the following information on December 31, 2021: Jan. 15, 2022 - P3,000,000 o...

A:

Q: On January 1, 2021, Deer Company had a division that met the criteria for discontinuance of a busine...

A:

Q: Depreciation is the allocation of the cost of a plant asset over its useful life in a rational and s...

A: Depreciation is charged on assets for reducing their value which is a result of the use of the asset...

Q: |Assume that Monsanto Coporation is considering the replacement of some of its older and outdated ca...

A: The marginal cost benefit analysis takes into account the incremental costs and benefits associated ...

Q: dividends amounting to P960,000 during 2022. How much did Promenade pay for its investment in Twilig...

A: Investment refers to those mechanism which is used by the company for the purpose of generating inco...

Q: The chemical's economic order quantity is

A: Economic order quantity is the quantity level which a company orders on a single order. The reason b...

Q: Soya's consolidated statement of financial position shows inventories with a carrying amount of £36,...

A: In indirect method of cash flow statement  when inventory increase or decrease shall be adjusted to ...

Q: Corporate taxes Southern Textile Ltd. is a manufacturer of sportswear that supplies to a number of E...

A: Tax liability is the amount of tax which is due and payable by taxpayer. We are given that, Firm ear...

Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate...

A: Nominal rate (D)= 7.5% Borrowed amount = P10,000

Q: Cullumber Bikes could sell its bicycles to retailers either assembled or unassembled. The cost of an...

A: Net Income per unit = Sales per unit - Total cost per unit Total cost per unit includes : Direct ma...

Q: data in the first quarter of 2018: Accounts receivable, beginning Accounts receivable, ending Trade ...

A: Professional tax is the tax which is applicable on the person who is not registered under VAT. This ...

Q: On November 5,2019, ABC Corporation’s truck was in an accident with an auto driven by Mikey. ABC rec...

A: Let's understand some basics The general concept of accrual accounting is that economic events are r...

Q: 1. On December 31, 2021, Sampaguita Company provided the following information: Accounts Payable, in...

A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle, whiche...

Q: 1. Define and site and example of a Savings and Mortgage Banking. 2. Site and Example of a Long Term...

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

Q: National Co. needs to borrow P300,000 for the next 6 months. The company has a line of credit with a...

A: The company does not have sufficient compensating balance so it will have to borrow a sum greater th...

Q: Rahara Ltd purchased a piece of equipment for £600,000 on the Ist January 2021. The equipment is exp...

A: The question is related to Government Grant. Two methods of presentation in financial statements of ...

Q: Choose a company that creates a product or offers a service that you are familiar. Using the company...

A: Answer with explanation are s follows.

Q: Paneer owns 30% of Lassi and has done so for many years. During the year ended 31 December 20X1, Las...

A: Lassi sold inventory of 1 million at 50% mark up  out of which 40% is still in stock cost of invento...

Q: Kam Company purchased a machine on January 2, 2019, for $20,000. The machine had an expected life of...

A: Depreciation in accounting can be calculated by different methods. Method of depreciation may also b...

Q: When an investment ceases to be an associate, the fair value of the investment at the date when it c...

A: When an investment ceases to be an Associate and is accounted for in accordance with IFRS 9. As per ...

Q: The partnership of Tatum and Brook shares profits and losses in a 60:40 ratio respectively after Tat...

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

Q: The National Co. has a revolving line of credit of P300,000 with a one-year maturity. The terms call...

A: Annual cost of financing arrangement = Interest cost 7% on the average loan balance during the year ...

Q: Bain Corporation makes and sells state-of-the-art electronics products. One of its segments produces...

A: Contribution = sales - Variable cost Profit = Contribution - Fixed cost Total cost = Number of units...

Q: Waylander Coatings Company purchased waterproofing equipment on January 6 for $591,600. The equipmen...

A: Depreciation means reduction in the value of assets due to its usage or with efflux of time or due t...

Q: he Distribution Point plans to save $2,000 a month for the next 3 years for future emergencies. The ...

A: In this question, we will calculate the future value of an annuity  1. Annuity: this is used in case...

Q: Question 28, P1-9 (similar to) Part 1 of 5 Interest versus dividend income Last year, Shering Corpor...

A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for yo...

Q: Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table):...

A: Discounted period for the bank is the difference between the total duration and days spent from the ...

Q: Cashan Corporation makes and sells a product called a Miniwarp. One Miniwarp requires 1.5 kilograms ...

A: Production need for October month = Budgeted production for October x raw material required per unit...

Q: QUESTION 3 Which of the following financial statement line items would be found on a manufacturer's ...

A: Answer with proper explanation of above question are as follows

Q: Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. S...

A: Penalty is the amount of interest paid for the delay in the payment in tax amount.

Q: Frank Moran manages the cutting department of Greene Timber Company. He purchased a tree-cutting mac...

A: Income statement refers to the financial statement which shows the financial performance for an acco...

Q: Problem 4-2 – Current and non-current liabilities Grill Company is selling audio and video appliance...

A: Current and non-current liabilities of a company refers to short term and long term obligations of t...

Q: Hemingway Corporation is considering expanding its operations to boost its income, but before making...

A: As per Bartleby policy, only first three parts of the interlinked question will be solved. The tax o...

Q: The following are facts about a company's activities: Cash flows from operating activities was $33,0...

A:

Q: Dibiasky Corporation is a trading company based in Laguna. The auditor in charge for 2020 audit is e...

A: Question No.1 states that the balance in the company’s accounts payable account as of December 31, 2...

Q: Business combination achieved in stages 2. Angry Co. acquired 20% interest in Misery Co. many years ...

A:

Q: Required information [The following information applies to the questions displayed below.] Complete ...

A: Calculation of depreciation and other necessary requirement are as follows.

Q: a) Statement of Retained Earnings for the year ending December 31, 2020 b) Statement of Cash Flows f...

A: Statement of Cash Flow Cash flow statement which is consist of three main parts.  The details are gi...

Q: Directions for the rest of the adjusting enteries: Journalize the Closing Entries. (Do Not Post The...

A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...

Q: Using accrual accounting and the preceding values, show the firm's net proft for the past year in th...

A: Please See Step 2 for the Statement as required.

Q: You borrowed money from the bank with a simple interest 8%, find the present worth of P25,000, which...

A: In Simple Interest Case, FV = PV + (PV x r x n) FV = PV x {1 + (r x n)} Therefore, PV = FV / {1 + (r...

Q: Chenango Industries uses 13 units of part JR63 each month in the production of radar equipment. The ...

A: Total Variable Cost=Direct Material+Material Handling+Direct Labor+Variable Manufacturing Overhead

Q: The use of standard costs in pricing and budgeting is quite valuable  since decisions in the fields ...

A: Standard cost is the cost which is predetermined and which is expected to be incurred during the yea...

Q: On January 1, 2020, Jam Company reported as investmonts the following unquoted equity shares: long t...

A: Journal entry refers to the process of recording business transactions for the first time in the boo...

Q: The firm is contemplating the following (base case): Vehicle acquisition cost                      ...

A: Economic profit is different from net profit. Where net profit is calculated by deducting only opera...

Q: Garden Co has determined that its soil and peat moss CGU is impaired by $360,000 due to erosion. Seg...

A: Impairment loss is the decrease in the recoverable amount from carrying amount. If the recoverable a...

Q: Based on number 3, what is the VAT payable

A: VAT Payable = Output VAT - Presumptive Input VAT The rates of VAT are as follows Presumptive input V...

Q: P company bought 60% of common stock of S company on January 1, 20x4. On January 1 20x5, there was a...

A: Net income means deducting all the expenses (Costs) allowances and taxes of an individual are known ...

Liquidity Risk Exposure

Answer: c