Ex:3 Div-A requires 1000 Qty of RM-B. Company has 700 Qty of RM-B in stock (original purchase price:7) it can either be used as substitute of RM-Z (currently cost 12 per unit) after incurring 1 additional cost in RM-B OR it can be sold as scrap e 6. Current purchase price of RM-B 15. Calculate relevent cost of RM-B which is a special stock
Q: effective interest rate
A: Formula: effective interest rate= [1+ interest rate/period)^ period]-1 *100
Q: eld Company
A: Answer: The correct answer is d. (i.e.$ 46,500) Workings: Total Manufacturing Cost for Job No.825 ...
Q: Statement of Financial Position For Year Ended December 31, 2020 urrent Assets nventory Current Liab...
A: XYZ COMPANY Statement of Financial Position For the Year Ended December 31, 2020 Assets Amoun...
Q: Subject- Audit SUMMARIZE THE CORE ISSUES for the following topic:- • ISA 805, Special Considerations...
A: An auditor is a person with the authority to examine and verify financial documents for authenticity...
Q: Assume the following year 2 income statement for Johnstone Corporation, which was a C corporation in...
A: Ordinary loss - An ordinary loss is failure realized by a taxpayer when charge exceeds revenues in r...
Q: Use the following information for the Exercises below. Textra produces parts for a machine manufact...
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing over...
Q: Julio and Milania are owners of Falcons Corporation, an S corporation. Each owns 50 percent of Falco...
A: Solution Ordinary income is any type of income earned by an organisation or an individual that is ta...
Q: the interest rate on debt is lower than ROA, then a firm will __________ by increasing the use of de...
A: Solution Return on Equity is a measure of financial performance calculated by dividing net income ...
Q: a) Calculate the contribution margin per unit. b) Calculate the number of units Beauty Supplies Comp...
A: hjvkbb kllnlllm bkjlnlk
Q: Journalize the entries to record the following selected transactions
A: The chart of accounts as mentioned in the question is not provided herewith. Journal entries are the...
Q: On May 31, Mason Company's cash balance per its general ledger is $4,830. The bank's cash balance pe...
A: For calculating adjusted balance as per books, interest earned on bank account should be added, wher...
Q: How much is the return on plan assets during the year?
A: Formula for Closing Balance of Plan Assets = Opening value of plan assets ...
Q: order to determine usefulness of intangibles, investigation and the examination of income data relat...
A: Goodwill, patent and others is an intangible asset which cannot be seen or touched, add value to the...
Q: After the closing entries have been posted, all temporary accounts should have ____. Select one: a...
A: Answer) The correct answer in the given question is (B) a Zero balance. Justification Temporary a...
Q: Summarized data for Walrus Co. for its first year of operations ar Sales (110,000 units) $5,500,000 ...
A: Net income (NI), also known as net earnings, is calculated by subtracting sales from the cost of goo...
Q: During February 1, 2018 Royal Company sold merchandise with a price of P100,000 towards Dew enterpri...
A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after...
Q: a) In your own words, explain how do we account for service costs included within a contract to leas...
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...
Q: Adhulik purchased second-hand machinery on 1.1.2018 for $38,000. On 1.1.2018 spent $12,000 on its re...
A: Depreciation referred as method which used to record assets after wear and tear of the assets due to...
Q: [The folowng information applies to the questions displayed below The foilowing summary data for the...
A: Assets=Liabilities+Stockholders' Equity
Q: Use the following to answer questions 8 – 11 The following information pertains to RC, Inc. for the ...
A: Estimated uncollectible accounts = Accounts receivable x % uncollectible accounts Bad debts expense ...
Q: A Honda car can be purchased by paying a down payment of P150,000 and the balance to be paid with tw...
A: Here, Interest Rate is 15% Compounded Semi-annually Details of First Option: Down Payment is P150,00...
Q: On August 1, 2017, Riverbed Corporation acquired Marin, Inc. for a cash payment of $2.30 million. At...
A: Goodwill is an excess amount of purchase consideration over the net value of assets. It is based on ...
Q: Pearson Ltd is an Australian listed company. Its results for the financial year ending 30 June 2023 ...
A: Earnings per share represent the net earnings held in hands of the outstanding shares of the company...
Q: Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the u...
A: Predetermined overhead rates are used to allocate the indirect cost. It can be allocated on the basi...
Q: When net profit margin is low, must be high in order to achieve on acceptable return on assets.*
A: In accounting we know that ROA = net income/total assets
Q: What are the types of Businesses according to Nature and differentiate each?
A: Solution Concept Types of business There are various types of business ,such as ...
Q: Guests Revenue Served P 480.00 Monday Tuesday Wednesday Thursday Friday Saturday Sunday Week's Total...
A: Formula Used: Daily Average = All the seven days revenue from Monday to Sunday / 7 days
Q: Explain the hedging arrangement and how does it reduce foreign currency risk exposure? Explain the t...
A: Hedging: Hedging is a risk management approach that involves holding an opposing position in a compa...
Q: Which of the following will give you the most accurate allocation between a cost's fixed component a...
A: Total cost consists of a fixed cost component and a variable cost component. In accounting we often ...
Q: ACCOUNTS FURNITURES ACCOUNTS UTILIITES OWNER'S TRANSACTION CASH RECEIVABLES & FIXTURES PAYABLE PAYAB...
A: The transactions is the business effects two or more accounts at the same time. The accounting equa...
Q: Compton Information Services, Inc., has two service departments: human resources and billing. Compto...
A:
Q: tement of changes in owners equity summarizes the effects on the capital account of the various busi...
A: Solution: The statement of changes in owners equity represents the changes in balance of equity from...
Q: Win Corporation is considering replacing a machine with a book value of P400,000, a remaining useful...
A: The net investment required to replace the existing machine will be difference of value of new machi...
Q: The following information is about Green Tea Ltd. Beginning Net income book value ($'000 000) of equ...
A: Abnormal earnings = Net Income – Equity Charge = Net Income – Beginn...
Q: Does the coverage of the Statute of Frauds make sense as it currently stands? Would it be better to ...
A: Introduction:- Fraud is defined as intentional deception with the intent of gaining an unfair or unl...
Q: The following transactions apply to Pecan Co. for Year 1, its first year of operations: 1. Received ...
A: The accounting equation states that assets equal to sum of liabilities and equity. The balance sheet...
Q: Explain the relationship between Contribution Margin ratio and Number of Breakeven units.
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...
Q: Calculate the net present value of the project at an effective rate of interest of 10% per annum.
A: £400,000 is incurred in the year 0. Also construction will start in 6 months and annual construction...
Q: Prob 3. Mabini company uses a standard cost system for its machine paced production of telephone equ...
A: In the above question, we have to calculate different variances using the given data.
Q: The cost of goods sold was computed at P12.250. Teotal sales for the year were P42950. of which P31....
A: Formula: Inventory turnover ratio = Cost of goods sold / Average Inventory
Q: For external reporting purposes, costs must be classified into only three categories. (2) Cost of go...
A: Correct Option: a. BOTH statements are FALSE
Q: Jaguar Plastics Company has been operating for three years. At December 31 of last year, the account...
A: 1. Balance Sheet - This Statement shows the balance of assets liabilities and Equity as at the balan...
Q: Elmoe has the following information for the month of October, its first month of operations: Work in...
A: As per our guidelines, we are supposed to answer only 3 subparts of the question. Since the Work in ...
Q: shares of ordinary share capital. Subsequently, 250,000 shares were issued at P25 per The Security C...
A: Share capital is the capital raised by the issue of shares. it is the amount invested by the shareho...
Q: Part 1- - Equity 1. Present the shareholders' equity section of the statement of financial position ...
A:
Q: Front Range Cabinet Distributors in Colorado Springs, Colorado, sells to its contractors with a 48% ...
A: Selling Price = Cost + Markup where, Markup = Cost x Markup %
Q: In what circumstance must entities register for GST in Australia?
A: GST is goods and services tax which is a form of indirect taxes. This is charged on goods and servic...
Q: Pixel Studio, Incorporated, is a small company that creates computer-generated animations for films ...
A: Solution 1: Computation of cost of serving Local commercial market Particulars Amount Animat...
Q: Marin Ltd. started the year with a balance owing from Stratford Inc. of $31,200. After several phone...
A: Journal entry refer to the first step in process of accounting which refer to recording of financial...
Q: interest balance balance 1/1/2021 24 207,020 6/30/2021 7,000 24 6,211 789 206,230 12/31/2021 7,000 6...
A: The Bonds are a source of financial which can be issued at par, at discount or at premium. When the ...
Step by step
Solved in 2 steps
- If the common cost ( 350 000)$. distribution between S. and R. using N.R.V. the sales Value of S. ( 200 000)$. , ( 300 000)$. to the R. and the Cost after off point to the S. ( 145000)$. the value of N.R.V. to the S. ? * . a- ( 145000)$. b-(55000 )$. C- ( another option)Full in the balankes : If the F.Cost ( 155 000 )$. Selling price ( 12000)$. to unit and the v. cost ( 7000 )$. to unit .B.E.P.( v. ) -------------- . * ( 372 000 )$ ( another option ) ( 480 000 ) unit . ( 372 000)unitQuestion involving Variable Consideration. Ex: Company A sells a product to Company B for $18,000. Based on past experience with the product and the customer, Company A's management identifies that returns are normally either 3% or 8% of the selling price. Generally, the amount that Company A will be entitled to will be either $17,460 ($18,000 × 97%) or $16,560 ($18,000 × 92%). What does this mean? Please explain in more detail.
- If the sale of n.l. units ( 120) unit in price ( 3120)$. to unit , the sales value on its ?. * (- 374400 )$ . ( another option ) ( 374400 )$with 700 unts the dala is Sales $200.c0 Naciable capense a$85000 Eixed expdase 450000. with 850 unit the dala is Sales $25O: O00 Vaiable expense $93 000 while kixted Samel Finds, expenses leman 2 har Net operaling income 700lunits 850its. What is connibulion maph unit? per a what R diperence when sales conhibution masan Increase 2neyel your anawerComplete the following paragraphs : If the common cost ( 450 000)$. distribution between S. and R. using N.R.V. the sales Value of S. ( 255 000)$. , ( 300 000)$. to the R. and the Cost after off point to the (S. ) ( 125 000)$. the value of N.R.V. to the S. ?. * (- 130000 )$ ( 130000)$. ( another option)
- P write the likely frandactiong thet may escenting result in the fallesing ahouyetiz the ace equation. (a) tnerease in ealited, lo.o0o crease in meter Vehicle., 2500 and increase in banfe 2500 . e) therease in 'mukentory, 1,760 cnd increase in trade Payable, 1,700. E) Decrase in inpentory Foo ihereade in geceivable , 620; and increase im eeluity 120. ) Therease In Cath, 450 ad decresc in boulk 450. (E)Decreade in bonk, 1eero anddecyosein Payable by 1,so0 f) Decrease im Cash, 250.and decrease in eduity, 250. CS Scanned with CamSoannerIf the Sales Cost ( 350000)$, Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) ( 150000)$. Ad. Cost ( 220000)$. Net profit ( using .? variable Cost) ( 1130000 )$ ( 150000)$ ( 990000)$ ( another option ).QUESTION 1 If the mark-up on cost is 20%, please and the selling price(Excl. VAT) is R600, which of the following amounts is the correct Cost Price(Excl. VAT)? O A. R100 OB. R580 O C. R575 O D. R500 QUESTION 2 Which one of the following statements with respect to VAT is false? O A. There is no indication of a VAT charge next to zero-rated item listed on an invoice. O B. In general, no input VAT claim is allowed by SARS on the purchase of a double-cab delivery vehicle. O C. The buyer of zero rated supplies will not get any refund from SARS for buying usch an item. O D. If a vendor sells only VAT exempt supplies, it may not register for VAT.
- The sales and profit for two years are as below: Sales Profit 2019 60000 17000 2020 90000 32000 Calculate Sales required to earn a profit of OMR 25000 Select one: O a. None of the options O b. OMR 70000 O c. OMR 76000 O d. OMR 800004. Given: Mark-on (MO) = P599 Cost (C) = P1699 Mark-up rate based on cost (MU_c%) = 30% Find the selling price before increase/Regular selling price (S)whion for Coofer EuterPrises is gven below! Dee B1, 20 24 Plan assets (at fair valve) Projected bonegil obligation Acemulated other comprehensivedess $ 1,600,000 1,200,000 503,700 The everage remahing benvicekife of euluye is loyeurs. The amortizahion of Accumulofed other CompPorc hesaive lass for tor 2022, usingthe corridor methad, 1B .... ? cs Scanned with GamScanner