rs are in thousands. By how much do the closing entries at the end of 2017 increase fund balance-unassigned?
Q: On January 1, 2022 Romano Company purchased a machine for $180,000. It is estimated that the machine…
A: Depreciation means the reduction in the value of an asset over the life of the assets due to the…
Q: King Flute & Instruments is a leading producer of quality instruments based on projection, fuller…
A: The contribution margin can be defined as the process of reducing all fixed costs from sales. The…
Q: Kumar, Inc., evaluates managers of producing departments on their ability to control costs. In…
A: The process of recognizing, aggregating, and assigning expenses to specific cost items is known as…
Q: On May 1, Boyz Security Services rented office space and paid two month's rent in advance in the…
A: The rent paid in advance is referred as Prepaid Rent. The amount paid is P 8000 The working is shown…
Q: The beginning balance of supplies is $4000. On December 31st, the physical count of remaining…
A: Supplies used during the year = Beginning balance of supplies - Physical count of remaining supplies…
Q: uring 2019, S sold merc
A: Introduction Minority interest means ownership or interest of less then 50% of an enterprise. The…
Q: Radar Company sells bikes for $530 each. The company currently sells 4,000 bikes per year and could…
A: The income statement represents the net income or net loss that is calculated by deducting the…
Q: ) The selling price should be reduced by $100. This reduction in selling price will allow 1000 units…
A: The question is related to Marginal Costing and Budgetory Control The details are given regarding…
Q: Equipment acquired at a cost of $90,000 has an estimated residual value of $5,000 and an estimated…
A: Depreciation is a non-cash expense. We book the depreciation to record the normal wear and tear of…
Q: Requirement Compute equivalent units for direct materials and conversion costs. Show physical units…
A: In process costing, Output of one process is the input of other process. Equivalent unit = Doc *…
Q: Cash Budget The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget…
A: Cash Budget is the estimates of total cash inflows and total cash outflows during a future specific…
Q: The Bronco Corporation exchanged land for equipment. The land had a book value of $138,000 and a…
A: Exchange means to give up something for something else. Here in the question, Land is exchanged with…
Q: ABD Corporation operates sales, administrative, and printing activities from a facility in the…
A: Definitions: i) Variable Cost are the Costs that changes with change in the production and selling…
Q: A company uses periodic system for stock/inventory valuation. At the beginning of the period there…
A: Formula: Cost of sales = Beginning inventory + Net purchases - Ending inventory
Q: Danny’s YoYos sells high quality yoyos. The inventory, purchases, and sales for a recent month in…
A: given Danny’s YoYos sells high quality yoyos. The inventory, purchases, and sales for a recent…
Q: Jan Van Tura, a sole trader provides you with the following information: N$ Vehicle 600 000…
A: Net book value = Cost of the assets - Accumulated depreciation where, Accumulated depreciation =…
Q: apital (P25 par value, 100,000 shares) 2,500,000 Share premium 3,000,000 Retained earnings…
A: Heaven Inc discovered late in 2021 that 2020 depreciation expense was overstated by 500,000.…
Q: What is the cost of goods sold during the year?
A: The question is related to Ratio Analysis. The Current Ratio is calculated with the help of…
Q: How accounting data analytics benefits accountants? 2. Discuss the risks of analytics in relation…
A: In accounting the analysis of data is any important part as it help to understand the important…
Q: $4 equity on December 31st. 12. Compute ending stockholders
A: Common stock is the ordinary stock issued by the company that gives the stakeholders ownership of…
Q: On May 1, Boyz Security Services rented office space and paid two month's rent in advance in the…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: The equity section of the December 31", 2025, balance sheet for BOOYA Inc. showed the following:…
A: The equity portion, in the balance sheet, reflects the ownership section which shows the funds…
Q: Hope Inc. has the following information: Beginning inventory P 56,000 Purchases 148,000…
A: The question is based on the concept of Cost Accounting. Cost of sales = Beginning inventory +…
Q: Issue 5,0 s102.50 per share nal shares of preferred stock for 1-Mar 1-Mar Issue 100,000 additional…
A: I am answering the question number 12 as specifically asked by the student. Common shares are…
Q: During the month of March 2022, Turaco sole trader purchased goods to the value of N$12 000, of…
A: The gross profit is calculated as difference between sales and cost of goods sold.
Q: He belongs to a medical aid fund to which he contributed R3 000 per month to during the year of…
A: Introduction: When one account incurs expenditures or receives money on behalf of one or more other…
Q: mac E9-2 Benedict Company incurred the following costs: 1. Sales tax on factory machinery purchased…
A: Cost accounting is a branch of management economics that aims to capture a company's total cost of…
Q: (POS Terminal / Cash Drawer) A medium-sized, merchandising store sells a variety of goods to its…
A: Terminal 1 Junk Food Buiscuis Canned drinks Others Total Gross sales 565 352 204 1211…
Q: During the reporting year the company's commodity output amounted cost - 12 million rubles,…
A: For many years, the Company earned significant cash from operations and has a strong credit capacity…
Q: Management of Lasalyano Corporation has asked for your help as an intern in preparing some key…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Asset Turnover in 2021 was 3.0 x. Company sales increased by 25% in 2022 and average total assets…
A: Asset Turnover is an accounting metric that shows the number of times at which the average total…
Q: Prepare adjusting entry for October 31. Show computation.
A: Loan is taken on October 1 and payable after 6 months. But interest for 1 month will become due on…
Q: A summary of the entries in the Cash account of Staple Ltd for the month of January was as follows:…
A: Cash flow from investing activities: It is a section of the cash flow statement that shows the cash…
Q: Buffalo Ltd. issues 8,700, $5 cumulative preferred shares at $62 each and 15,000 common shares at…
A: Date Account Titles and Explanation Debit Credit 2020Jan . 10 Cash Dividends - Preferred…
Q: hreé products X, A company is manufacturing and Z. The following information is supplied to:…
A: The question is related to the Cost Management. The details are given regarding the same.
Q: Are bonuses to employees subject to Income Tax? Discuss the tax implications to the taxable income…
A: Income tax An income tax is considered an important direct tax. It is an important source of revenue…
Q: Question 1 Presented below is selected information related to Mohammed Ltd at December 31 20X1.…
A: Ans a) Determination of total Assets at December 31,20X1::: Equipment Account:::29,000..…
Q: General obligation long-term debt
A: According to the question, the total fund balances of a county government are $23,000,000, and the…
Q: Determine the total current Assets value Cash $38,100; Short-term investments $4,100; Accounts…
A: Introduction: Balance sheet: All assets and liabilities are shown in Balance sheet. It tells the net…
Q: the options 60 3,600 Inventory Inventory Accounts Payable 600 1,200 Cash 600 Cash 2,940 Sales…
A: June 1 Inventory A/c dr. $3600 (30shoes * $120) To Accounts payable.…
Q: The accountant for Polo's Pet Shop prepared the following list of account balances from the entity's…
A: Owners capital increases with income earned and contribution during the year and decreases with…
Q: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts…
A: Net cash provided by operating activity = Net Income + Add: Non cash income +/- Change in working…
Q: Use the following to answer questions 13 - 17 KMC Corp.'s management is considering either a 100%…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Selected hypothetical comparative statement data for the giant bookseller Barnes & Noble are…
A: Formula used: Profit margin=Net incomeNet sales×100 Asset turnover=Net salesAverage total assets…
Q: On January 1of the current year, the furniture account had a balance of P 24.000 with accumulated…
A: Depreciation for furniture present at beginning of year = cost ×Depreciation rate
Q: The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume…
A: Formula: Total dividends = Number of Outstanding shares x Dividend per share
Q: On January 1, 20x2, Penn Co (parent purchased 90% of the outstanding common shares of Senn Co.…
A: A journal entry is used to document a business transaction in a company's accounting records. A…
Q: Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance:…
A: Bank reconciliation statement: It is a statement drawn up by the business to verify the cash book…
Q: Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $181,830 has an…
A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…
Q: Question 7: Which of these taxes is NOT remitted with Form 941? Answer: A. O Federal income tax В. O…
A: Note: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered…
Here is the preclosing December 31, 2017
All numbers are in thousands.
By how much do the closing entries at the end of 2017 increase fund balance-unassigned?
$14,000
$270,000
$298,000
$284,000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- After-Tax Cash Flows Below is a list of aspects of various capital expenditure proposals that the capital budgeting team of Anchor, Inc., has incorporated into its net present value analyses during the past year. Unless otherwise noted, the items listed are unrelated to each other. All situations assume a 40% income tax rate and an 11% minimum desired rate of return. 1. Pre-tax savings of $4,000 in cash expenses will occur in each of the next three years. 2. A machine is purchased now for $37,000 cash. 3. A long-haul tractor costing $27,000 will be depreciated $9,000, $12,000, $4,050, and $1,950, respectively, on the tax return over four years. 4. Equipment costing $200,000 will be depreciated over five years on the tax return in the following amounts: $25,000; $50,000; $50,000; $50,000; and $25,000. 5. Pre-tax savings of $8,800 in cash expenses will occur in each of the next six years. 6. Pre-tax savings of $7,000 in cash expenses will occur in the first, third, and fifth years from…Use the information below to answer questions 3, 4, 5 and 6. 2020 2021 Sales$5,300 $5,900 Depreciation750850COGS24002900Interest180196Cash200500Accts Receivables200400Notes Payable800550Long-term debt15001950Net fixed assets30003500Accounts Payable250400Inventory700900Dividend payout30%30%Tax rate35%30% What is the ROE for 2021?ements What is the total Wealth Accumulation of the following investment assuming the available after tax reinvestment rate is 5%? IRR 10.70% O $4,690,000 O $4,821,078 O $4,848,844 $4,905.989 n 0 $ 1 S 2 $ 3 $ AS 5 $ Investment $ (3,000,000) 240,000 250,000 260,000 266,000 3,674,000
- How much is the cash received from the payment of the Government? * Sale on Account to the Government (VATEX) 500,000 Input VAT paid pertaining to the sale 40,000 535,000 500,000 560,000 525,000Question 1 The following are the balances extracted from the Public Accounts on the Consolidated Fund of the Government of Ghana for the year ended 31 December, 2020 GHS’ Million Direct Tax 100,000 Indirect Tax 150,000 Grants from Bilateral Partners 25,000 Grants from Multilateral Partners 320,000 Other Grants Received 10,000 Royalties 8,000 Fees and Fines 2,000 Interest Income 400 Seminar and Training 22,000 Local Consultancy 34,000 Foreign Consultancy 23,000 Travel and Transport 6,000 Travel Allowances 56,000 Established Post Salaries 220,000 Non –Established Post 80,000 End of Service Benefits 120,000 Car Maintenance Allowances 40,000 Other Staff Costs 12,000 Cleaning Costs 3,000…How much external funds would Batik Company need? Negative EFN of ₱81,705 Positive EFN of ₱81,705 Negative EFN of ₱385,675 Positive EFN of ₱385,675
- The following are a project's cash flows. What is the projects year - 110155450 cash flows - 9.70% 5. 14.660%. 8.64% 10.78% . =. 16.94% IBR? $450 $40 3 8490Use the following information to calculate, to one decimal place, the return on assets (ROA) for FY21: FY21 FY20 $m $m Total assets 5,887 5,000 Finance costs 50 Тах expense 300 Profit 700The Lost in Space corporation is trying to finally build a space ship that won't end up stranding everyone on it in some random part of the galaxy. To do so they are considering a new three-year project that will require an initial investment of $400 million. These initial assets will be depreciated straight-line to zero over their three-year tax life. The firm will be able to sell these assets at the end of the project for $45,250,000. The project is estimated to generate the following revenues during it's three year life: $315,485,369 in year one, $325,690,023 in year two, and $344,555,000 in year three. The firm expects that their costs will be equal to 47.75% of the projects same year revenues. They expect that project net working capital (in the form of inventory required) will be equal to 10.25% of the next year's revenue. The firms tax-rate is 21%. What are the project's cash flows from assets for years 0-3? What is the IRR on this project? Use available Excel template and…
- Information on four investment proposals is given below:Investment ProposalA B C DInvestment required ........................ $(90,000) $(100,000) $(70,000) $(120,000)Present value of cash inflows ......... 126,000 138,000 105,000 160,000Net present value ............................ $ 36,000 $ 38,000 $ 35,000 $ 40,000Life of the project ............................ 5 years 7 years 6 years 6 yearsRequired:1. Compute the project profitability index for each investment proposal.2. Rank the proposals in terms of preference.E Click the icon to view the ne More Info (a) Identity all simple investme DA. Project C B. Project B C. Project D YD. Project A Net Cash Flow Project C $50,000 Project D Project A -$32,000 35,000 25,000 Project B $38,000 $46,300 2,600 6,173 78,345 1 37,000 -26,000 -26,90 -26,006 47.000 (b) Identify all nonsimple investm 15,000 -3,000 DA. Project A VB. Project B OC. Project D OD. Project C Print Done (c) Compute /" for each investment. The rate of return of Project A is 71.1 %. (Round to one decimal place.) The rate of return of Project B is 68.1%. (Round to one decimal place.) The rate of return of Project C is 26 % (Round to one decimal place.)Example (1): You have the following data: Details 12/31/2020 1/1/2020 60000 80000 40000 150000 15000 50000 10000 20000 Fund Assets Debtors Goods Liabilities Creditors and you have available additional information: 1. Additions to the capital amounted to 100,000 dinars . 2. Withdrawals from the capital amounted to 40,000 dinars. Required: Extracting the result of the activity works on 31/12/2020.