how managers (internal user) and customers (external user) use accounting information?  Give one real-life example for each user

Q: Muskoge Company uses a process-costing system. The company manufactures a product that is processed ...

A: Equivalent units of production are an indication to show the work in process inventory at the end of...

Q: Question 5 Breakeven point Product 1 Product 2 Product 3 Product 4 Product 5 11 11 20 11 14 Selling ...

A: Lets understand the basics. Break even point is a point at which no loss no profit contribution aris...

Q: Prepare correcting entries as of December 31, 2020 7. The delivery expense of P 1,800 incurred on Oc...

A: When transactions occur as part of the business operations of a company, records will be made accord...

Q: . What was the net income after taxes of the property/casualty division?

A: Net income after taxes  $1,53,750

Q: The following information is from Princeton Company's comparative balance sheets. Current At Decembe...

A: The T-accounts are prepared to post the journal entries to the specific accounts of the business. 

Q: E4. What is the effective annual interest rate if a credit union pays 4.125% interest (a) compounded...

A: The effective annual interest rate is computed using the following formula: - Effective Annual Inter...

Q: DM/DL/OH/S ell/Admin Product or Cost Period а. Annual bonus paid to top executives of the company b....

A: a  - Period b - Period c - product d - Period e - Period f - product g - Period h - Period i - Perio...

Q: Calculate the depreciation expense recognised in the current financial year ending 31 December 2019.

A: Depreciation expense is writing down the value of assets as the asset is used in business. In straig...

Q: Grateful Enterprises had the following income before tax provision and effective annual tax rate for...

A: Income tax expense is the amount of income tax which is to be paid taxation authority. It is calcula...

Q: Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for fou...

A: The specific identification approach has to do with inventory valuation, specifically keeping track ...

Q: Sellers Construction Company purchased a compressor for $104,300 cash. It had an estimated useful li...

A: Every transaction which is of financial nature affects two or more sides of an accounting equation. ...

Q: Whitman Corporation, a merchandising company, reported sales of 7,400 units for May at a selling pri...

A: Income statement is prepared by the business organization so as to know how much amount of Gross pro...

Q: Statement of Financial Position February 28, 2021 (Expressed in Jamaica dollars unless otherwise sta...

A: (1) Debt - to - equity ratio = Debt / Equity Debt = Long term debt = Non- current liabilities  Equi...

Q: Twix $ 4,000 30,000 40,000 (20,000) 24,000 (44,e00) Dots Skor Net income Depreciation expense Accoun...

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the so...

Q: uppose that the government has a wealth tay at the rate of 2% on the assessed value of wealth

A:                                      Wealth tax is tax on wealth .  In USA there is estate tax rathe...

Q: True or False? You list the accounts on a Trial Balance in Ledger Order which is Assets, Liabilities...

A: Order of accounts in Trial Balance should be in this order: Assets, Liabilities, Equity.

Q: On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use thi...

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...

Q: Required information The Bricgs and Stratton Commercial Division cesigns and manufacturers small eng...

A: Salvage value refers to the book value of the asset that remained after subtracting all the deprecia...

Q: Two types of machine tools are available for performing certain manufacturing firm. The estimated co...

A:

Q: ainbow, Inc. began operations on January 1 of the current year with a $12,800 cash balance. Fifty pe...

A: Solution: Collection from sales for the month of February = Jan sales collection + Feb sales collect...

Q: Acquired a press at an invoice price of P2,000,000 subject to a 5% cash discount which was taken. Co...

A: Total increase in equipment account Particulars Amount in P Invoice price of press 2,000,000 ...

Q: Citrus Corporation is a calendar year S corporation with the following current year information: Ope...

A: As per IRS The operating loss that Grapefruit can deduct currently  = 60% purchase price of citrus c...

Q: Mr. Allen is a 65-year-old Jamaican tax resident. He is the director of a hotel, Allen’s Rest Well R...

A: Considering Jamaica tax rates citizens who are aged more than or equal to 65 years are given an exem...

Q: Ahmed & Co. makes and sells two types of shoes, Plain and Fancy. Data concerning these products are ...

A: Contribution per unit = Selling price - Variable cost  

Q: Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, A...

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

Q: Expenses increase on the debit side. Even though these account balances are increasing, what is happ...

A: Expense refers to the cost related to the operations which the business incur in order to generate t...

Q: Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for ...

A: Earning per share can be calculated by dividing net income by total outstanding shares.

Q: The TimpRiders LP has operated a motorcycle dealership for a number of years. Lance is the limited p...

A: Introduction Partners basis is the partners interest in partner ship, partnership tax law often refe...

Q: On May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 cash. On November 4...

A:  sometime companies purchase share of their own stock from other stock holder of the company. such r...

Q: The population of Aman city increased from 188,500 to 191,890. Find the percent of increase

A: Population (before ) = 188500 Population ( after ) = 191890 In question requires percentage of Incre...

Q: Prepare journal entries to record each of the following sales transactions of a merchandising compan...

A: The procedure of entering business transactions for the first moment in the books of accounts is kno...

Q: Based on the following production and sales data of Frixion Co. for March of the current year:   P...

A: Answer:- a                                               Sales budget for the month ending March 31 ...

Q: 5. A retailer buys an article from the wholesaler at OMR 80 and the wholesaler charges a sales tax a...

A: a) Price that consumer have to pay would be- 100+8%of 100= 108.   b) Input Tax:  80*8%= 6.4   Output...

Q: Mills Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on July...

A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for yo...

Q: Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the ...

A: AN ADJUSTED TRIAL BALANCE IS A LISTING OF ENDING BALANCES IN ALL ACCOUNTS AFTER ADJUSTING ENTRIES HA...

Q: The ABC Company had the following transactions in 2021, the first year of its operations: 1. Issued ...

A:

Q: 39) Pall, Inc, owns 40% of the outstanding stocs received a $4,000 cash dividend from Sibil. WE fina...

A: Balance sheet represents the financial position of the company that involve the assets, liabilities,...

Q: The ABC Company had the following transactions in 2021, the first year of its operations: 1. Issued ...

A: Financial Statements - Financial Statements included income Statement, Statement of Retained Earning...

Q: Financial Aid Student Accounts Resources Campus Store c. $8,550 d. $9,280 Chef Fabio does beginning ...

A: With the help of given information, food cost percentage is determined.

Q: Grateful Enterprises had the following income before tax provision and effective annual tax rate for...

A: The tax rate for : Quarter 1 = 30% Quarter 2 = 30% Quarter 3 = 25% Cumulative Income ( Quarter ) = C...

Q: E15.25 Lead time and safety stock Monitor Ltd uses 780 tonnes of a chemical each year in its manufac...

A: Safety stock: Safety stock is a type of additional stock quantity which is kept by a production unit...

Q: On November 30, 2019, Davis Company and the following account balances: 1. Prepare general journal e...

A: Journal entries (JE) refers to the original books of accounts which reports the daily transaction of...

Q: A machine has a first cost of P97,198.62 and has an expected salvage value after 10 years P11,240.93...

A: Depreciation is the allocation of cost of asset over the useful life of the asset. Under declining b...

Q: The X Division of XYZ Ltd produces wooden components that it both sells to external customers and tr...

A: Transfer pricing is one of the methodology which is used for setting the prices at which product can...

Q: Greek Manufacturing Company produces and sells a line of product that are sold usually all year roun...

A: * As per bartleby policy, if multiple questions are asked then answer first three only.   e. Breakev...

Q: Don't answer this if you already answered or you'll get a downvote. If you do this correctly and com...

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period. 

Q: A2 Equity transactions: An examination of the ledger of Goodrich Metals revealed the iollowng b Prep...

A: Treasury stock is the company’s own stock purchased from the investors. A stock dividend is the stoc...

Q: Ames Trading Co. has the following products in its Quantity Cost per Unit $ 600 Product Mountain bik...

A: In this question, we have to compute the lcm applied for each product.

Q: is’ production data for a new deluxe product were taken from the most recent quarterly production bu...

A: Solution: Direct labor cost for the quarter represents total direct labor cost for standard units an...

Q: E1. You deposited $10,000 in a savings account nine years ago. The account has earned 5.55% interest...

A: