3. Z, a celebrity, lived alone in a huge house. One evening, she noticed that her bedroom needed organization and deep cleaning. She contacted X, the daughter of her old nanny, who immediately went to her house and finished the job. Does Z need to register X with the SSS?
Q: A 2-ton hydraulic press is needed to add to production. This equipment has an initial purchase and…
A: Initial Purchase and Installation Cost 190000 Yearly Operation Cost 1000…
Q: fair value (market-related value) efit obligation assets
A: The answer has been mentioned below.
Q: 1. What amount should be reported hyperinflationary statement of financial position? as total assets…
A: Illustration June 2013 July 2016 Dec.…
Q: Assuming a FIFO method of process costing (for both of the following situations), determine the…
A: The equivalent units are calculated as the number of units to be completed during the period.
Q: On 31 May 20X2 the bank statement of Harrison Ltd showed a balance of £26,500. As part of the bank…
A: Bank reconciliation is a statement to identify and document the differences between balance as per…
Q: In October 2021, United Corporation obtained a loan amounting to US $ 120,000 for the purchase of…
A: The question is based on the concept of financial accounting.
Q: Compare the Statement of Profit or Loss and Statement of Financial Position of a sole trader with…
A: A sole trader often called a sole proprietorship, is a simple business structure in which one…
Q: IAS 21 provides that exchange differences/(gain/loss) arising on the settlement or remeasuring…
A: Introduction:- IAS 21 with as follows under:- Account for foreign currency transactions. When the…
Q: A company s planned activity level for next year is expected to be 100000 machine hourS. At this…
A: Manufacturing overhead cost is the sum of all the indirect costs which are incurred while…
Q: Which of the following is TRUE of both financial accounting and management accounting? a. The…
A: Solution Concept Financial accounting The accounting that is done for the purpose of…
Q: What information do we get from the income statement?
A: Income statement is a financial statement which is prepared on periodical basis along with Balance…
Q: Security rules has 2 kinds of implementation specifications, one of them is Required specifications,…
A:
Q: Relyx Manufacturing produces concrete garden border sections. At the beginning of the process, all…
A: Answer to (c) statement showing cost per unit for each equivalent component using FIFO method:…
Q: Record the journal entry to account for tuition and fee revenue
A: Journal Entries is the method to record transactions within the accounting records of the business.…
Q: Asap Impact of the Financial Accounting Standard Board
A: The Financial Accounting Standards Board was formed to develop reporting standards. It is one of the…
Q: Milton Company reported inventory of $60,000 at the beginning of 2014. During the year, it purchased…
A: Cost of Goods Sold: The term "cost of goods sold" (COGS) refers to the direct expenses that are…
Q: 26. ( rare metals from land owned by the state of Nevada. To obtain the rights, HHM agrced to…
A: Asset retirement obligations are the term used to refer to obligations related to the intended…
Q: Perez Company is considering an investment of $30,485 that provides net cash flows of $9,000…
A: Internal rate of return is the rate at which the present value of cash inflows is equal to the…
Q: TB MC Qu. 12-83 (Algo) Estimated PV (present value) payback period: Plant Company Plant Company is…
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
Q: hat is the amount of working capital at the end of January? A service enterprise's working capital…
A: Working capital is the amount of current assets in excess of current liabilities. Formula: Working…
Q: On January 1, 2020, ABC Company reported the following shareholders’ equity Share capital,…
A: Stock dividends of 10%: No of shares issued on declaration of stock dividend on July 1, 2020 =…
Q: Directions: Read and analyze the problem below then do the following requirements. Assuming, you…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Roundta respect to cost of goods sold for the current year: any reported the following information…
A:
Q: . The following historical pattern on its credit sales of Rainy Co. was presented: 70% collection…
A: CASH BUDGET: Cash budget gives an estimate of the anticipated receipts and payments of cash during…
Q: Pierce, a single taxpayer, sold his home this year. He had owned and lived in the house for 10…
A: A recognized gain occurs when an investment or item is sold for a higher price than it was…
Q: A corporation has taxable income from operations of $1 million. In addition, it received $100,000 of…
A: Introduction: Cash, real estate, or services are all possible sources of income. Amount included in…
Q: wnership of an apart
A: The balance sheet is prepared as,
Q: What is the amount of income to be reported upon receipt of the note? At the end of the taxable…
A: Non-interest bearing note is the note which a company receives from the debtors in against the money…
Q: Bryant leased a land to Jose for a period of 11 years starting January 1, 2012 at an annual rental…
A: You have posted a multiple-part question, so as per our policy only the first three inter-linked…
Q: Under variable costing, how is it possible to increase net operating income without increasing sales
A: Introduction:- Under the Variable costing includes only variable manufacturing costs such as direct…
Q: The following information were made available for Futuristics Inc.: P 900,000 P 240,000 June 30 cash…
A: Ending cash balance is computed by taking into consideration beginning cash balance, cash inflows…
Q: At the beginning of the current year , Flash Company had retained earnings of P4,000,000 . During…
A: Retained earnings are surplus left after paying all operating Expenses, taxes and dividends. It is…
Q: ABC Company was organized on January 1, 2022 with 100,000 authorized shares of P100 par value.…
A: Share premium account shows the difference between the par value of shares issued and the issue…
Q: 1. Assuming that net pay was directly deposited into the employee's bank accounts, prepare the…
A: Journal entry is made at the time when a business transaction or any other accruals has been…
Q: Which of the following adequately describes Management Accounting? It is the process of identifying,…
A: Solution Concept Financial accounting The accounting that is done for the purpose of…
Q: The equipment has a purchased price of P530 000 and expected to have 13% ann depreciation rate.…
A: Introduction:- Depreciation is a non cash expenditure. Which id charged on fixed assets over a…
Q: Direction: Study the given data below and compute for (1) the cash generated/used in financing…
A: Cash Flow Statement shows Inflow/Outflow of Cash on account of Operating, Investing, and Financing…
Q: Pert Lad has been trading for one year as at 31 December 2021 and during that year the company pad…
A: The accrued expenses are the expenses which are incurred but not paid yet.
Q: A single taxpayer sold his home on March 4 of the current year for $600,000. He originally bought…
A: The taxpayers are also required to pay capital gains tax on the sale of residential property. The…
Q: Alpha Corp. has a branch in Pasig City established on May 31, 2021. During 2021, the home office…
A: Head Office of the business organization may open its branches at different cities to expand the…
Q: How does accounting for foreign inflation differ from accounting for domestic inflation?
A: The practice of revising financial statements during inflationary periods is known as inflation…
Q: Craig owns border manufacturaing, making and selling hubs for 24$ a hub. His fixed costs are 1250…
A: Cost can be either of two types: either fixed cost or variable cost. Variable costs are those costs…
Q: c) Discuss five differences between a lean management approach to accounting and traditional…
A: Lean Accounting: Lean bookkeeping incorporates offering financial statements more clear and…
Q: Wendt Corporation acquired a new depreciable asset for $94,000. The asset has a 4-year expected life…
A: Depreciation is an expense charged against income statement for the portion of fixed asset which has…
Q: Purchased equipment is cost P515 800 and expected to have 15 years of economic life with 12% annual…
A: THE DECLINING BALANCE METHOD IS ALSO CALLED REDUCING BALANCE METHOD OR DIMINISHING BALANCE METHOD .…
Q: What is the subsequent measurement of foreign currency denominated monetary items Closing rate…
A: Monetary items are those which are in the form of money or can be measured in the form of currency.…
Q: customer misses his flight due to the one hour wait in the check-in line. They are a
A: When there is case of error there is need to be rectify this error and provide the alternative…
Q: Peak sales for General Products, Inc. occur in September. The company's sales budget for the third…
A: The cash collection schedule is prepared to record the estimated cash collections to be made during…
Q: A friend of yours is interested in purchasing a motor vehicle with at a cost of $3.5 million. The…
A: The spending required to generate and sell products and services, or to acquire assets, is referred…
Step by step
Solved in 2 steps
- Mary owns an older home, which she's looking to sell in the near future. She's worried that there may be asbestos located throughout the house, so she decides to hire a professional to test for and remove any asbestos found. Where may asbestos be found in Mary's house? O Roofing shingles, floor tiles, and wall insulation. O Exterior paint, windows, and roof rafters. O Any wood stud partition wall. O Foundation walls and floor joists.• Alex owns a roofing company and buys a computer for personal usage. He sometimes uses the computer for the company, but his children are the primary users of the computer, although he does use it for his roofing company occasionally. Can the computer be recorded as an asset in the accounting records of Alex's roofing practice? Explain why or why not?Celia lives in Europe and received a survey in the mail from a U.S. company wanting to know how her family used disposable paper towels. Celia never uses paper towels but she doesn’t want to reveal that in the survey so she answers the questions to please the company. Celia’s response is an example of ethnocentrism.self-fulfilling prophecy.cluster analysis.social desirability bias.
- Sally Vertrees purchased a personal computer for use at home. Sally owns a dental practice. She occasionally uses the computer for a task related to her dental practice; however, the computer is used primarily by Sally’s children. Can the computer be recorded as an asset in the accounting records of Sally’s dental office? Why or why not?Sharon is an intern with a local CPA firm. Prior to returning to school, her supervisor goes on sick leave and asks her to do some complicated reconciliation work for him. She is given what seems to her to be an unrealistic deadline. Sharon looks at the workpapers and supporting documentation and realizes she doesn’t have the skills to complete the work without help. She contacts her supervisor who tells her to talk to Holly, a good friend of Sharon and former intern at the firm, for help. Holly returned to school one semester ago. What ethical considerations do you have in this matter? What would you do and why?Which of the following MOST likely indicates a clear violation of an NFPO’s code of conduct? John Adams, a volunteer for the local pet shelter, also owns a pet store and has offered a discount on pet food to the local shelter. Cecilia Lam used inappropriate language on her Facebook page when referring to the NFPO for which she worked. Mark Adams, an employee for a legal society, used the organization’s computer to research a new job. Hanpreet Kaur, the accountant for a sports rehabilitation society, offered the society’s services to his sister free of charge without her needing to qualify.
- Jamie Lee Jackson, age 27, full-time student and part-time bakery employee, has just moved into a bungalow - style, unfurnished home of her own. The house is only a one-bedroom, but the rent is manageable and has plenty of room for Jamie Lee. She decided to give notice to her roommate that she would be leaving the apartment and the shared expenses after the incident with the stolen checkbook and credit cards a few weeks back. Jamie had dip in to her emergency savings account to help cover the deposit and moving expenses, as she had not planned to move out of the apartment and be on her own this soon. Jamie is in need of a few appliances, as there is a small laundry room, but no washer or dryer, nor is there a refrigerator in the kitchen. She will also need a living room set and a television because the only furniture she currently has is a bedroom suite. Jamie is so excited to finally have the say in how she will furnish the bungalow, and she began shopping for her home as soon as the…Eleanor is the owner of a 15-year-old home, and is looking to buy a homeowner’s insurance policy. She feels it would be overly cautious to purchase protection from all perils, but in addition to protection from fire, vandalism, windstorms, and so on, she also wants insurance for damage caused by malfunctioning of internal structures like air conditioning or plumbing. Based on the peril coverage it offers, she purchases an _________ insurance policy. Her home has a replacement value of $250,000, therefore she insures her home for the minimum legal requirement of __________________. Assuming she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maximum dollar value of reimbursement she can receive for each of the following: Damage to personal property: $ _____________________ Detached buildings: $_____________________ Loss of Use (Additional living expenses): $____________________ Property…Ned is an independent contractor working with Joe remodeling a home, and Joe pays him using cryptocurrency. Ned then took the cryptocurrency and purchased tools for work. How should he report the income and what would be the basis of the amount he received?
- Jamie Lee Jackson, age 27, full-time student and part-time bakery employee, has just moved into a bungalow-style, unfurnished home of her own. The house is only a one-bedroom, but the rent is manageable and has plenty of room for Jamie Lee. She decided to give notice to her roommate that she would be leaving the apartment and the shared expenses after the incident with the stolen checkbook and credit cards a few weeks back. Jamie had to dip in to her emergency savings account to help cover the deposit and moving expenses, as she had not planned to move out of the apartment and be on her own this soon. Jamie is in need of a few appliances, as there is a small laundry room, but no washer or dryer, nor is there a refrigerator in the kitchen. She will also need a living room set and a television because the only furniture she currently has is a bedroom suite. Jamie is so excited to finally have the say in how she will furnish the bungalow, and she began shopping for her home as soon as the…After spilling his plate of spaghetti all over his friend's apartment floor, Anthony rented a carpet cleaner to clean it up. In doing so, he realized just how easy it is to clean carpets! He started his own business, diving in head-first by purchasing a carpet cleaner, to make a little money. His friends are keen to use his services to clean their rented apartments before handing back keys to the landlords. Anthony charges $70 to clean the main areas of an apartment. In addition to his equipment costs, he uses a cleaning solution on the carpet, which costs about $22 per unit cleaned. Because of his class load, Anthony currently cleans just 4 apartments per month, but he is thinking about asking his roommate to join him so that he can increase the volume of sales.Identify whether each of the following is an example of adverse selection or moral hazard.A. Joe begins smoking in bed after buying fire insurance. B. Both of Susan’s parents lost their teeth to gum disease, so Susan buys dental insurance. C. When Gertrude parks her Corvette convertible, she does not bother putting the top up, because her insurance covers theft of any items left in the car.
