Material pricing needs to include shipping costs, sales tax, and storage costs. true or false

Q: Sundry assets Ballena, capital Cabasal, capital P487,500 292,500 195,000 Ballena and Cabasal share p...

A: The partnership comes into existence when two or more persons agree to do the business and further s...

Q: Using the observed growth rate on DPS, determine the expected share price for Company B on 31 Decemb...

A: Under Dividend Growth Model, P0 = D1 / (r - g) Here, P0 = Price of the Share now D1 = Dividend for n...

Q: Which of the following is unlikely to be classified as a fixed cost with respect to the number of un...

A: It is cost that does not change with the change in production volume. The fixed costs remain constan...

Q: Information for 2018 taken from the separate company income statements of Odette Company and its 60%...

A: The profit and loss of intercompany sales are to be adjusted as unrealized and the effect of depreci...

Q: TRUE OR FALSE? The increase in the provision for inventory obsolescence is treated as a change in ac...

A: Accounting policies are the set of principles to be followed in the preparation of financial stateme...

Q: Upperchurch Company reports the following components of stockholders' equity on January 1. Common st...

A: Date Transaction Impact on Equity  Amount  Jan'1 Total Stockholders' Equity - January'1    $    98...

Q: emopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest...

A: These are the accounting transactions that are having a monetary impact on the financial statement o...

Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.0...

A: Step 1: Net pay is the value which is computed after deducting the taxes and deductions allowed for ...

Q: amortizatlon LO P3 Wookie Company issues 9%, five-year bonds, on January 1 of this year, with a par ...

A: Interest payment = Face value of bonds x rate of interest x no. of months / 12 months Interest expen...

Q: Discuss why adherence by the accounting profession to a single, GAAP-based view is inappropriate.

A: Accounting Profession: The role of an accountant is to maintain and analyse financial records, which...

Q: Widgets & Gadgets in a merchandiser that sells gadgets and widgets. hey had the following transactio...

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

Q: Determine cost of goods sold during the period under a periodic inventory system using the LIFO meth...

A: LIFO - last in first out. Means the goods at last will be sold first. Under periodic LIFO the invent...

Q: John Doe, a 23-year young newly graduated engineer just got a job in a major engineering firm. Human...

A: In this question, we will find out inflation rate and rate of return and all calculation due to Apri...

Q: Which of the following is a fixed cost in an automobile manufacturing plant? 6. Sales commissions a....

A: Fixed costs are those costs which will not change with change in activity level or volume. Variable ...

Q: On January 1,2020, ABC Company leased its equipment to DEF Company under a 3 year operating lease at...

A: Lease rent include all fixed rent ,bouns and additional rent. Following is the ABC Company's rent re...

Q: Carpenter Corporation purchased a mineral deposit, making payment as follows: Cash $10,000 and 6,000...

A: The assets acquired are recorded at fair value of the particular or similar asset in the market. 

Q: 1. Compute the amount of interest capitalized related to the construction of the building. 2. If the...

A: The adding of unpaid interest towards the principal sum of your loan is known as capitalization. Whe...

Q: The following trial balance was extracted from the books of Movies To The Max Ltd at July 31, the en...

A: The following trial balance was extracted from the books of Movies To The Max Ltd at July 31, the en...

Q: On January 1, 20xx, A, B, C and D formed 5G Trading Co., a partnership with capital 4. contributions...

A: Partnership is the type of business in which two or more interested persons join hands by contributi...

Q: Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $110,000 ...

A: Solution A journal is a company's official book in which all business transaction are recorded on ch...

Q: Problem 20-6 (IAA) On January 1, 2021, Portugal Company purchased bonds with face amount of P8,000,0...

A: As per Effective interest method, the interest is calculated on the carrying value of the bond rathe...

Q: Colorway Inc. had total assets of P65,000,000 at year end and provided the following condensed incom...

A: Reportable segment is the reporting of the segment on the basis specified in the Indian Accounting S...

Q: Inter Company began operations on December 1, 2020. Presented below is selected information related ...

A: The income statement is an important financial statement of the business which tells about the profi...

Q: On January 1, 2021, Wee Company acquired property consisting of ten identical freehold detached hous...

A: Gain on sale of investment: A gain will be recognized if the fair value of investment is higher than...

Q: NSWER IS LETTER B. 9,000. PLEASE PROV

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

Q: For the past four years, ABC reported the following annual net income and dividend amounts: Year...

A: Retained Earnings: When a company's direct and indirect expenses, income taxes, and dividends to sha...

Q: Explain The various employee benefits in an organization: 1-Social Security : 2-Workers' Compensat...

A: The payments which is made by employers to its employees that are beyond the wages paid. Typically, ...

Q: Royal Enterprises has presented the following information for your analysis. Selling price per unit ...

A: In the process of production of goods, the costs involved are an important factor in the determinati...

Q: Prepare a comparative income statement for the company, showing in adjacent columns the profits earn...

A: Under FIFO Method, units that came in first will be sold first and the inventory will be out of the ...

Q: The Adam and Daniel partnership reports net income of $54,000. Partner salary allowances are Adam $1...

A: Solution Partnership is an arrangement between two or more people to oversee business operations and...

Q: all earnings for futu growth. Comparative Balar bous:

A: Return on shareholder equity explains the relationship between the net income and the average shareh...

Q: ABC Company leased equipment to DEF Company on July 1,2019, for a one year period expiring on June 3...

A: The method by which a corporation tracks the financial effects of its leasing activity is known as l...

Q: Please answer this correctly. Thank you:) 2. Explain the difference between producing financial sta...

A: REA model refers to Resources, Events, Agents Model. This is a model which depicts changes in accoun...

Q: CASE B Mr. RVC acquired his business for ₱3,000,000. The fair market value of the business is ₱5,000...

A: fair value is the actual value of an asset. it is one of the most important method used in the accou...

Q: In year zero, a corporation acquires P300,000 worth of equipment. It decides to utilize straight lin...

A: Straight-line depreciation is the method of depreciation that depreciates an asset at a fixed amount...

Q: On December 31,2019, ABC Company leased equipment to DEF Company for a 4 year period ending December...

A: Lease:  Lease refers to an agreement where the Lessor permit to use of the asset to Lessee in return...

Q: What adjustment should be made to the net income of 2022? A. 1,200,000 increase B. 3,000,000 increa...

A: Alocasia Company decided that market conditions were such that the provision for inventory obsolesce...

Q: The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as ...

A: A Trial Balance is a statement that shows either the balance or total amounts of debit and credit it...

Q: Barnes Company uses a job order cost system. The following data summarize the operations related to ...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into t...

A: Solution: Under FIFO method of process costing, beginning WIP inventory cost is not included in comp...

Q: Which of the following is not considered in the determination of Total Assets after business combina...

A: In business combination , following are considered for determination of total assets : 1. Fair value...

Q: Acquisition of Land and Building On February 1, 2019, Edwards Corporation purchased a parcel of land...

A: The costs incurred to get land ready for use for construction such as demolition cost, would be incl...

Q: Sunny introduces a new compact music player that carries a two-year warranty against manufacturer's ...

A: Solution: Total sales = $30,900,000 Actual warranty expenditure = $290,000

Q: You are an audit senior in Riskam and Co and you are commencing the planning of the audit of CariBev...

A: Risk assessment is the evaluation and identification of various aspects of the entity where risks ar...

Q: a. The owner (Alex Carr) invested $15,800 cash in the company. b. The company purchased supplies for...

A: Double accounting system has dual effect with respect to debit and credit. Accounting equation is su...

Q: Greenwood Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. ...

A: Product design cost is allocated equally among 2 products as expected activity driver is 2. Product ...

Q: Don Johnson is the management accountant for Cari-Blocks (CB), which manufactures specialty blocks. ...

A: Solution Manufacturing cost is the sum of costs of all resources consumed in the process of making a...

Q: Sunni bought a $500 corporate bond. The bond pays 4.8% interest per year. If Sunni holds the bond fo...

A: Interest is the monetary amount charged for money borrowed, generally the rate of interest expressed...

Q: Widgets & Gadgets in a merchandiser that sells gadgets and widgets. They had the following transacti...

A: Journal entry records the financial transaction which is one of the key step of accounting.  Under F...

Q: Use the following information for the next two questions: On January 1, 20x1, ABC Co. sold machinery...

A: The question is related to calculation of interest income abd carrying amount of receivable in excha...

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.