What do you call the partner who has the duty to make sure that all the employees enter on time, all the profits are appropriately recorded, all the duties of the employees are performed and perform all the acts that are necessary to keep the partnership gain profits?   Limited partner Managing partner Industrial partner General partner

Q: When translating the financial statements of an entity from its functional currency to its selected…

A: Translation from the functional currency to the presentation currency (IAS 21) The results and…

Q: On January 1, 2017, the llocos Norte Corporation purchased the business of its competitor in a…

A: Impairment of Assets It is important for the business entity to determine the impairment loss of the…

Q: company is experiencing financial difficulty and is negotiating a trouble debt restructuring with…

A: debt restructuring is a process that is used by the company  , individual, or even countries in…

Q: During May, Hal Company invoiced customers $5,000 for goods delivered in May and collected $6,000…

A: The accrual basis records the revenue and expenses in which they are earned or incurred.

Q: Owen Company manufactures bicycles and tricycles. For both products, materials are added at the…

A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…

Q: Nicanor, single, received the following in 2022: Proceeds of his life insurance paid at annual…

A: Proceeds of his life insurance paid at an annual premium of P15,000 within 25 years - P2,000,000…

Q: 36. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year…

A: Here discuss about the details of donated share capital which are received from the shareholders in…

Q: The amount to be refunded to Mr. Gerry is:

A: Tax refund is paid to the taxpayer when there has been paid by the taxpayer during the year more…

Q: Research about the meaning of the culture of an organization. Explain how it is related to building…

A: Meaning of culture in an organization  : Culture is a value and belief that are followed by the…

Q: Exchange differences arising from the translation of financial statemen of a foreign operation shall…

A: When company has subsidiary in the foreign country than the assets and liabilities are to be…

Q: USE THE NUMBERS 1-10 TO PLACE THE FOLLOWING STEPS OF THE ACCOUNTING CYCLE IN THEIR PROPER ORDER, 1…

A: Accounting cycle includes the step by step procedure of recording and finalizing the business…

Q: Frances Farley has total assets of $20,000 and total liabilities of $70,000. Pursuant to a Title 11…

A: Introduction: Gross income is the total amount of money earned before taxes and other deductions are…

Q: What kind of operations are listed on the cash flow statement? Is it important the order these…

A: A cash flow statement is a straightforward financial report that depicts a company's cash flow (cash…

Q: 1. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year…

A: Donated capital refers to the assets provided to the entity as the gift, this amount is reported at…

Q: et Income (in millions) ? ? Weighted Average Shares Outstanding (in millions)     Basic Number…

A: EPS means earnings per share which represents the amount of money received by each shareholders out…

Q: Gang company issued 1,000,000 shares of common stock. Of these 150,000 shares were held as treasury…

A: No. of shares issued means shares issued by the company including the shares purchased by the…

Q: On April 1, 2022, Pink Company signed an agreement to operate as a franchisee for a franchise fee of…

A: cost of franchisee= Initial payment + PV of future payment Future payment = 500000 semi annual…

Q: What is the formula for the "Net Income attributable to P Corporation"? How did you come up with…

A: Net income is the difference between total revenues and expenses.

Q: A taxpayer made available the following financial information: Gross sales        - Php 10,000,000…

A: Taxable revenue is the money of income required to calculate an individual's or a business's tax…

Q: How did you get Accounts Receivable and Sales?

A: Account receivable is the amount which is to be received from the customers or the customers who…

Q: Concord Corporation purchased a delivery truck for $36,800 on January 1, 2020. The truck has an…

A: Depreciation expense per mile is calculated by dividing the depreciable value of the Asset by the…

Q: During 2019, Company A had net credit sales of Php 600,000. Its Accounts Receivable and Allowance…

A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period.

Q: ne Atlantic Company sells a product with a break-even point of 4,247 sales units. The variable cost…

A: Break even point in units= fixed cost/ contribution per unit 4247 = $110,422/contribution margin per…

Q: On December 31, 2021, the company presented the following information: Ordinary share capital, P50…

A: Cost Value of Property, plant and equipment: P8,000,000 Book Value of Property, plant and equipment:…

Q: Louise Lewis, age 72, is married and supports her mother, age 96. During 2021. Louise pays $1,300…

A: Introduction: Medical expenses include all costs associated with the prevention or treatment of…

Q: To encourage entities to expand their operations in a specified development zone, where it is…

A: The accrual concept is one of the key concepts in accounting and it is based on the belief that the…

Q: Ogag company issued 1,000 shares of its P5 par value ordinary shares as payment for 1,000 hours of…

A: Par. value of Ordinary Shares :- P5  No. Of Equity Shares issued :- 1000 shares  Market Value of…

Q: On January 1, 2021, marine company had 125,000 issued shares and 25,000 treasury shares. During the…

A: No. of shares issued means shares issued by the company including the shares purchased by the…

Q: On January 1, 2017, the llocos Norte Corporation purchased the business of its competitor in a…

A: The impairment loss is calculated as the difference between the carrying value of all the assets and…

Q: In connection with your audit of the financial statements of the Pin Shop Company for the year 2020,…

A: Ordinary shares refers to those shares which are available on the public exchange for the sale. It…

Q: The following information pertains to A Company: • Dividends on its 1,000 shares of 6%, $10 par…

A: An appropriation is a discretionary reclassification of retained earnings. Its purpose is to…

Q: Thank you, how did you get the Adjusted Production Volume Variance?

A: Production Volume Variance = It helps the businesses to assess their performance and how much they…

Q: . If an entity declares a small share dividend, what amount shall be debited to retained earnings?

A: Solution: There are two type of share dividends as under: 1. Small share dividend (20-25%) 2. Large…

Q: On April 1, 2020, Car Company purchased 25,000 ordinary shares of Way Company at an amount which…

A: The investment made in other company is recorded as investment on asset side of the balance sheet.

Q: Company "A" owes an amount of 450,000 riyals to Company "B" under a bill of exchange and the bill…

A: Bills of exchange refers to the conditional document which states that one party needs to pay this…

Q: A Company was incorporated on January 1, 2003, with the following authorized capitalizat 200,000…

A: Total contributed capital is the total amount of paid up capital.

Q: How much is the amortization of patent for the year 2021?

A: As at Dec 31, 2020 Green Company has 3 existing patents.  Patent A has been acquired on 14th Feb,…

Q: tock, par value $10 per share During 2005, Amelia issued 24,000 shares of common stock for a total…

A: Contributed capital refers to the cash and other assets that shareholders have donated a firm in…

Q: Manger x My Home x CengageNOWv2 |Online teachin x * CengageNOW2|Online teachin x…

A: Cost of goods sold is the actual cost of goods which is being sold to the customers. Cost of…

Q: Alexis Company bought the shares of Gabriel Company classified as equity Investments at fair value…

A: Total dividend revenue for the year=Total Shares×Dividend per share Gain on the sale of the…

Q: ome limitations of internal controls?

A: Control Environment. The phrases "control environment" and "internal control environment" are…

Q: a. provide 5 facts about financial statements (with explaination) b. complete the table below.

A: A financial statement means such a statement that provides information on financial records. the…

Q: On October 1, 2019, Michael Company purchased 30,000 shares of Jackson Company at P180 per share…

A: The investment is valued under the fair value method if the investment is in less than or equal to…

Q: A company had 100,000 shares of common stock outstanding in January 2003. The company distributed a…

A: No. of shares outstanding means shares issued by the company and currently ar with the stockholders.…

Q: Amanda's basis in her partnership interest on January 1, 2020, is $25,000. She is a 25% partner.…

A: A business entity formed by multiple person for a common business goal with a contractual agreement…

Q: On March 1, 2021, a company issued 1,000 shares of its P20 par value ordinary share and 2,000 shares…

A: When more than one class of stocks are issued together at a lumpsum price, the lump-sum amount is…

Q: .IFRIC 17 Distribution of noncash assets to owner provides that at the end of each reporting period…

A: Dividend payable is the amount of the return which is to paid to the shareholders of the entity.

Q: what was her total in sales?

A: $120,000 was her total in sales.

Q: In 2020, Angela Company held the following investments in ordinary shares: •     25,000 shares of…

A: When company receives dividends from its investment, dividend income gets credit to dividend income…

Q: Oriental Company follows the procedure of debiting bad debt expense for 2% of all new sales. Sales…

A: Introduction:- Bad debt are outstanding balances (expenses)that a business deems uncollectible…