eva
Q: The production department of Zan Corporation has submitted the following forecast of units to be pro...
A: 1 and 2: Zan Corporation Direct Materials Budget 1st 2nd 3rd 4th Quarter Quarter Quar...
Q: how Prep
A: Partnership Deed is a written legal document that consists of an agreement between two individuals w...
Q: eBook Depredation by Three Methods; Partial Years Perdue Company purchased equipment on April 1 for ...
A: Double declining balance method:: Depreciation rate is:::2*(1/ Useful Life...) Depreciation rate is:...
Q: You have $1,900 that you want to invest in your classmate’s start-up business. You believe the busin...
A: Investment Amount $1,900 Future Value $4,550 FV = P(1+r/n)^ntWhere FV =Future ValueP = Pre...
Q: Allied Company, a seller of goods, had the following transactions: Cash sales 300,000 Credit Sales 4...
A: Question is bases on sales recognition and gross sales amount determination IFRS-15's principal will...
Q: Stan owned machinery which had been acquired at a cost of $250,000. During 2020, the machinery was d...
A: acquired at a cost of $250,000. adjusted basis of $200,000. The insurance proceeds awarded to Stan...
Q: 8. Leth Company is currently undergoing liquidation proceedings and is consulting with potential buy...
A: The question is related to liquidation. The orderly liquidation value is calculated as under Orderl...
Q: Find the future value of a five-year $124,000 investment that pays 8.75 percent and that has the fol...
A: Future value of an investment is calculated as: = Principal * ( 1 + periodic interest rate) ^ number...
Q: What do auditors consider when determining the extent to which the internal auditors’ work will affe...
A: Risk of Material Misstatement: Material misstatement risk is the possibility that an organization's ...
Q: Topic 2: Describe the Units of Activity depreciation method. Create a business example of a fixed as...
A: Depreciation is a charge which is charged on the fixed asset. It is the use of fixed asset during th...
Q: 10. A firm's common stock currently sells for Php 75 per share. The firm has total assets of Php 1,0...
A: Net assets = Total assets - Total liabilities = 1000000-350000 = Php 650,000
Q: Loob Company had the following loans at 12% interest payable at maturity. The entity repaid each loa...
A: Interest is required to be paid on the amount borrowed from financial institutions. The interest amo...
Q: An Analyst is evaluating Quickie Inc. and shared the following projected net cash flows for the next...
A: Compounded annual growth rate formula = Ending valueBegining value1/ no.of years -1 ×100...
Q: 1. Current assets is P20,000, current liabilities is P30,000. What is the current ratio? 2. Inventor...
A: As posted multiple independent questions we are answering only first question kindly repost the unan...
Q: Diana Corporation anticipates a 10 percent growth in net income and dividends. Next year, the compan...
A: Calculation of P/E Ratio::: P/E Ratio=Price/Earnings per share:::P40/P5=8 times....
Q: Preference Share Capital
A: Capital is the funds invested in the business to earn revenue.
Q: > BTCF $75,000; Depreciation $14,000; tax rate = 34%. What is the after-tax cash flow? %3D %3! Taxab...
A: Answer: Please note that first question has been solved as per Q/A guidelines, Please repost remaini...
Q: journal
A: Purchase journal is a systematic book where Purchase related transactions are recorded. It is also p...
Q: Please help with d), e) and f). Buggs-Off Corporation produces and sells a line of mosquito repella...
A: The question is related to Marginal Costing. The break even point is that level of sales at which Fi...
Q: Given the following partial income statement informatic Sales $40,000 Less: Sales discounts (a) 5,00...
A: Net sales = Sales - Sales Discount - Sale return and allowances Sales Discount = Sales - Sale retur...
Q: NUBD must choose one of two mutually exclusive projects. Project A has an up-front cost (t = 0) of P...
A:
Q: Minot Corporation is preparing its cash budget for August. The following information is avallable co...
A: Estimated collection in August for Credit sales in August = Estimated credit sales for August x 20% ...
Q: First Bank is considering giving Cullumber Company a loan. First, however, it decides that it would ...
A: Inventory at the end of financial year to be shown in balance sheet , should means the inventory , t...
Q: I. Direction: Identify what describes the following statement. Write your answer on the blank before...
A: ____________________1. It pertains to the state of one’s personal monetary affairs._________________...
Q: NUBD Co. is planning to acquire a new machine at a total cost of P360,000. The estimated life of the...
A: Calculation of pay back period::: Initial investment/Present value of annual cash Inflows... Annual ...
Q: cash basis and the accrial basis
A: Cash basis - It is a system of accounting in which revenues and expenses are recognized when cash re...
Q: Sahirah received a promissory note valued at RM8,550 for 115 days with an interest rate of 5.5% per ...
A: The question belongs to the time value of money. The note issued has 115 days of maturity. The inter...
Q: P9-6 Data for departments A & B of Grand Central Company for the month of June 2015 follows: Departm...
A: The production cost report covers production and cost activity for a reporting period within a depar...
Q: Operating cash flow ratio Working Capital
A: Solution The answer of current ratio and operating cash flow ratio has been given as required by yo...
Q: Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fi...
A: Semiannual interest payment = face value of bonds x interest rate x 6/12 = 27500000x8%x6/12 = $11000...
Q: On July 1, 2018, Nokia Corporation issued 1,000 P10 par ordinary shares and 2,000 P10 par convertibl...
A: Share capital is the amount raised by issuing ordinary/common or preference shares by the company. T...
Q: Weightless Inc. produces a small and large version of its popular electronic scale. The anticipated ...
A: The production budget is prepared by the management to know the units to be produced. It can be calc...
Q: Toxaway Company is a merchandiser that segments its business into two divisions—Commercial and Resid...
A: Break-Even Point: In manufacturing, the breakeven point is the point at which the expenses of produc...
Q: What is the average collection period assuming annual data is used? quarterly data is used?
A: Assuming Annual data: Average Collection period= [Account receivable/Sales]× 365 Assuming Quarterl...
Q: Who benefits from cash discounts, and how can an auditor verify that they are being given in line wi...
A: This question explains about the cash discounts, and an auditor verifying that they are being given ...
Q: Statement 1: Acquisition of premiums increases the total asset account of the entity. Statement 2: P...
A: The question is related to acquisition of business. The difference between the price actually paid a...
Q: ABC is trying to decide between two machines which are necessary in their manufacturing facility. Da...
A: The question is related to Capital Budgeting. In the given question the costs of two machine having ...
Q: What can be stated about a business with negative owner equity? How did this scenario get to be this...
A: Investors utilize owner equity to assess the financial health of a firm. The amount that shareholder...
Q: NUBD Co. purchase a machine for P180,000, which will be depreciated on the straight-line basis over ...
A: Calculation of present value of cash Inflows:::: AAnnual cash flows::P40,000 Less: Depreciation ::($...
Q: In December 2012, Infovision established its predetermined overhead rate for movies produced during ...
A: Preparation of journal entry to record the overapplied overhead cost:: Factory overhead cost A/C Dr:...
Q: PP Company plans to acquire a computer costing P20,000 with a salvage value of P8,000 at the end of ...
A: The answer are as follows
Q: Differentiate financial accountant, management accountant and manager
A: Financial accountant, management account and manager are three types of employees in an organization...
Q: On January 1, 2021, Masbate Company issued 5-year bonds with face amount of P5,000,000 at 110. The e...
A: Amortization is the total time taken to repay a mortgage fully. So it denotes the total period of ...
Q: This entire amount is usually a differential or relevant cost Direct cost Period cost Conversion co...
A: Relevant costs are the costs that can be avoidable cost and these costs are incurred only when a par...
Q: standard cost card fo
A: Standard cost of a product is the cost calculated based on the predetermined standards for direct ma...
Q: A company's financial management and stockholders might be harmed by their overconfidence.
A: Introduction: The corporation may either sell its equity shares to the public or purchase them on th...
Q: Sala Co. is contemplating the replacement of an old machine with a new one. The following informatio...
A: Savings in variable cost = (Annual operating costs of old machine - Annual operating costs of new ma...
Q: Typically, bankers require potential borrowers to provide audited financial documents with their loa...
A: Financial statement auditing is described as reviewing an entity's financial statements and other di...
Q: NUBD Co. is expanding its manufacturing plant, which requires an investment of P4 million in new equ...
A: Investment in new equipment and plant modification = P4 million Increase in Investment in Current As...
Q: In order to earn money, how do financial institutions do it? What conditions restrict their ability ...
A: Introduction: Financial markets are the exchanges on which financial assets and instruments are exch...
C1, C2 and C3 are partners sharing
What amount of investment should C4 contribute?
Step by step
Solved in 2 steps with 2 images
- AAA, BBB and CCC are partners sharing profits in the ratio of 5:3:2, respectively. As of December 31, 2021, their capital balances were P87,800 for AAA, P80,000 for BBB and P67,200 for CCC. On January 1, 2022, the partners admitted DDD as a new partner and according to their agreement; DDD will contribute P80,000 in cash to the partnership and also pay P10,000 for 15% of BBB's share. DDD will be given a 20% share in profits, while the original partners' share will be proportionately the same as before. After the admission of DDD, the total capital will be P330,000 and DDD's capital will be P70,000. What is the balance of BBB's capital, after the admission of CCC? 54,250 45,750 56,250 50,000AAA, BBB and CCC are partners sharing profits in the ratio of 5:3:2, respectively. As of December 31, 2021, their capital balances were P87,800 for AAA, P80,000 for BBB and P67,200 for CCC. On January 1, 2022, the partners admitted DDD as a new partner and according to their agreement; DDD will contribute P80,000 in cash to the partnership and also pay P10,000 for 15% of BBB's share. DDD will be given a 20% share in profits, while the original partners' share will be proportionately the same as before. After the admission of DDD, the total capital will be P330,000 and DDD's capital will be P70,000. What is the balance of BBB's capital, after the admission of CCC? A. 81,100 B. 72,600 C. 79,100 D. 74,600E1, E2, and E3 are partners sharing profits in the ratio of 4:4:2 respectively. As of December 31, 2018, their capital balances were P190,000 for E1, P160,000 forE2, and P120,000 for E3. On January 2, 2019, the partners admitted E4 as a new partner and according to their agreement, E4 will contribute P160,000 in cash to the partnership and also pay E2 for 15% ofhis share. E4 will be given a 20% share in profits while original partners share will be proportionately the same as before. After the admission of E4, the total capital will be P660,000 and E4's capital be P140,000. What is the capital balance of E3 after the admission of E4?
- X, Y, and Z are partners sharing profits and losses in the ratio of 5:3:2. During the year, their investments and withdrawals are as follows: Investment of X, Y, and Z for P200,000, P175,000 and P375,000 respectively. Withdrawals of X, Y, and Z amounting to P125,000, P62500 and P62,500 respectively. On December 31, 2021, the partners decided to liquidate their business. After exhausting partnership assets, liabilities of P125,000 remain unpaid. X is personally insolvent. The gain or loss on realization is:On January 1, 2031, A, B and C formed ABC Partnership with total agreed capitalization of P2,000,000. The capital interest ratio of the ABC Partnership is 5:1:4 while the profit or loss ratio is 3:2:5, respectively for A, B and C. During 2031, A and B made additional investments of P400,000 and P1,000,000, respectively. At the end of 2031, B and C made drawings of P600,000 and P200,000, respectively. On December 31, 2031, the capital balance of B is reported at P400,000. 7. What is the net income or net loss of ABC Partnership for the year ended December 31,2031?a. (P1,000,000)b. (P2,000,000)c. P1,600,000d. P2,400,0008. What is the capital balance of A on December 31, 2031?a. P900,000b. P700,000c. P1,100,000d. P800,0009. What is the capital balance of C on December 31, 2031?a. P300,000b. P100,000c. P400,000d. P500,000Partners A and B formed a partnership on January 1, 2020 where Partner A invested P500,000 while Partner B invested P300,000. Profit and loss as agreed upon by partners is to be shared in the ratio of the original capital. The drawing accounts of Partners A and B have debit balances of P24,000 and P12,000 respectively. Net income for the period ending December 31, 2020 amounted to P180,200. What is capital balance of Partner B for the year ending December 31, 2020?
- On January 1, 2022, A, B and C formed ABC Partnership with agreed capital of P1,200,000 or P400,000 each. Profit is to be allocated equally. C is appointed as the managing partner. Capital/Drawings transactions during the year: . A, B and C made additional investments of P200,000 each respectively. . At the end of year, A, B and C made drawings of P50,000, P30,000 and P40,000, respectively. . At the end of year, the capital balance of B is reported at P400,000. Compute the ending capital of C.The following are the capital account balances and the profit and loss sharing ratio of the partners of MTR Motors Company on December 31, 2019: M (25%) 60,000; T (50%) 80,000; and R (25%) 200,000.On January 1, 2020, L is admitted as a new partner under the following agreement:L is to share 1/3 in the profits and losses while the other partners will continue to share in the P/L in their original ratio.L is to pay T 24,000 for a ¼ interest to the latter’s equity in the partnership and is to invest 140,000 cash in the partnership.L’s capital account after the admission is to show 150,000 and the total capital of the new partnership is 520,000. Requirements:1. Compute for the respective partner’s capital account balances after the admission of L.2. Compute for the new P/L ratio of the partners in the new partnership.A, B, C and D are partners, sharing earnings in the ration of 3:4:6:8. The balance of their capital accounts on December 21,2020 are as follows: A- P25,000; B- P625,000; C- P625,000 and D- P225,000. The partners decided to liquidate, and they accordingly convert the non-cash assets into P580,000 of cash. After paying the liabilities amounting to P75,000, they have P555,000 cash available for payment to partners. Assume that a debit balance in any of partner’s capital account is uncollectible. The book value of non-cash assets amounted to: ___
- X and Y are partners sharing profits 6:4, respectively. Capital accounts as of October 1, 2021 are X-P 560,000; Y-P 480,000. They agree to admit Z as a new partner with an investment of P260,000 for a interest in the partnership and that the assets are fairly valued, what would be the capital of Y after the admission of Z?A, B and C are partners sharing profits and losses in the ratio of 5:3:2, and have a capital ratio of 4:4:2, each respectively. As of Dec 31, 20x13, their capital balances were P285,000, P240,000 and P180,000 each respectively.On January 1, 20x14, the partners admitted D as a new partner and according to their agreement, D will contribute P240,000 in cash to the partnership and also pay P30,000 for 15% of B’s share with the assets being adjusted. D will be given a 20% share in profits, while the original partners’ share will be proportionately the same as before. After admission of D, the total capital will be P990,000 and D’s capital will be P210,000. The amount of asset revaluation will be?The amount of bonus in the admission of D would be? What is the capital of B after the admission of D?A, B and C are partners sharing profits and losses in the ratio of 5:3:2, and have a capital ratio of 4:4:2, each respectively. As of Dec 31, 20x13, their capital balances were P285,000, P240,000 and P180,000 each respectively.On January 1, 20x14, the partners admitted D as a new partner and according to their agreement, D will contribute P240,000 in cash to the partnership and also pay P30,000 for 15% of B’s share with the assets being adjusted. D will be given a 20% share in profits, while the original partners’ share will be proportionately the same as before. After admission of D, the total capital will be P990,000 and D’s capital will be P210,000. The amount of asset revaluation will be?The amount of bonus in the admission of D would be?
