Accounting Question

Q: What factors must be known or estimated in order to compute depreciation expense?

A: Definition: Depreciation: Depreciation is a decrease in the value of the fixed assets over a period ...

Q: Accounting Question

A: Annual Depreciation under straight line method = (Cost - Salvage value) / Life of asset Double decli...

Q: Describe the advantages and disdvantages of the payroll tax deferral. Explain what is positive or ne...

A: Payroll taxes are shared by the employer and employee, each paying 6.2% of wages along with a 1.45% ...

Q: Presented below is income statement information of the Millenium Corporation for the year ended Dece...

A: Closing entries:   Closing entries are those journal entries, which are passed to transfer the final...

Q: Is the not-for-profit form of business organization appropriate for the Green Bay Packers? Why or wh...

A: G B P are the only communal owned, non-profit football team in the NFL. They have allotted over 5 mi...

Q: The following information must be provided in the notes to the financial statements.  A.If the entit...

A: Notes to financial statements are important part of financial statements. This is also known as foot...

Q: A business has the following trading account for the year ending 31 May 2008: £ £ Sales turnover 90,...

A: We have the following information: Sales Turnover: $90,000 Opening Stock: $8,000 Purchases: $53,000...

Q: On November 1, 2022, the following were the account balances of Wildhorse Equipment Repair. Debit Cr...

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of journ...

Q: Please consider the following financial numbers for Carridine Company and then prepare answers to th...

A: Net income is the income which is left with the company after paying off its expenses. Net income is...

Q: On October 1, Kosko Corporation’s stockholders’ equity is as follows. Common stock, $5 par value $4...

A: The stock dividend is a method of capitalizing retained earnings. Under the stock dividend, no amoun...

Q: Culver Co. sells $424,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and Jun...

A: Bonds Payable:  Bonds payable are generated when a company issues bonds to generate cash. As a bond ...

Q: At 30 June 20X2 a company had $1m 8% loan notes in issue, interest being paid half-yearly on 30 June...

A: We have the following information: At 30 June 20X2 a company had $1,000,000 8% loan notes in issue ...

Q: Golden Cumulus Corp., a commodities trading company, reported interest expense of $19 million and ta...

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Q: TLK Ltd. manufactures small size fans to be used in load shedding areas. Each fan has a rechargeable...

A:   Contribution margin income statement is an income statement  in which all variable expenses are de...

Q: Camper's Village LTD. Camper's Village produces outdoor camping products, with a specialty in discou...

A: Cost Volume Profit Statement: It is the statement that shows the effect of changes in cost and volum...

Q: The following information is available for Hildebrand Corporation: Dividends paid to common stock...

A: EPS: It shows the earning divided to each share of the company. Higher the EPS, the Higher the profi...

Q: Tammy, a single taxpayer, has a part-time job at BigCo, a company in which she has no ownership inte...

A: Qualified business income (QBI) deduction allows sole proprietorships, partnerships, S corporations,...

Q: My question is in the photo please help . Can any one help?

A: Job order costing is a costing technique used to determine cost of performing job or cost of manufac...

Q: The following question presents hypothetical data concerning transfer of cotton between departments ...

A: Transfer pricing of different departments is important so that each department maintains its profita...

Q: How does the lack of regulations or related laws affect compliance with the best ethical practices i...

A: Compliance means adhering to the law, state laws, federal laws, international laws Ethics means doin...

Q: Accounting Question

A: Since you have asked multiple questions, we will solve one question for you. If you want any specifi...

Q: Assume that Muscular Consulting erroneously recorded the payment of $7,500 of dividends as a debit t...

A: Some of the errors not affecting Trial balance are as follows:- 1. Error of Ommission 2. Error of Co...

Q: The following information was taken from the books of Underwood Traders for December 2019and January...

A: Bank Reconciliation Statement: It is a statement which is done by the customer of the bank in order ...

Q: Q.1.3 During the previous financial year, a competitor began litigation against Isomin Ltd (4) regar...

A: Given information is: During the previous financial year, a competitor began litigation against Isom...

Q: Zhao Co. has fixed costs of $416,000. Its single product sells for $185 per unit, and variable costs...

A: Given:  Selling price per unit = $185 Variable cost per unit = $121 Fixed cost = $416,000 Expected s...

Q: Total utility expense was recorded as $55,000 on the income statement. The utility payable account h...

A:   Utility payable account is a current  liability which is shown on balance sheet.  It represents th...

Q: Please walk me through this step by step.

A: Calculate the gross profit recognized in 2021. Working note:  Calculate the percentage of completio...

Q: Accounting Question

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the unanswere...

Q: On November 1, 2022, the following were the account balances of Wildhorse Equipment Repair. Debit Cr...

A: As posted multiple sub parts we are answering only one kindly repost the unanswered question as a se...

Q: 4-2 account McGregor Insurance Agency started the year with a beginning capital balance of $27,500. ...

A: A statement of owner's equity is the statement of owner investment in the business minus any withdra...

Q: Good night

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...

Q: Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credi...

A: This ratio compares the current asset with the current liabilities in order to ensure the liquidity ...

Q: The Warren Watch Company sells watches for $26, fixed costs are$155,000, and variable costs are $13 ...

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want a...

Q: The following unit data were assembled for the assembly process of the Super Co. for the month of Ap...

A: FIFO Definition: FIFO stands for First in First out , It means the first received inventory to be so...

Q: Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It also has operating expenses...

A: Date Particulars Debit  Credit 31-12-2017 Income tax expense a/c Dr 48,000     To Income Tax pay...

Q: The following information relates to Eva Co's sales tax for the month of March 20X3:$Sales (includin...

A: We have the following information: Sales (including sales tax): $109,250 Purchases (net of sales ta...

Q: Your friend Taliesha Jackson of Edwardsville, Illinois, recently changed to a new job as a CPA in a ...

A: Health Insurance:   Health insurance is a plan which covers the medical and surgical expenses of the...

Q: What is the answer to the reciporcal method to four decimal places and how do you get the answer?

A: Answer 1: The Direct method Net service to both production departments (Advertising and sales) for t...

Q: Vanadium Audio Inc. is a small manufacturer of electronic musical instruments. The plant manager rec...

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Q: Distinguish between the OLAP operations of consolidation and drill-down

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Q: Think about a service you have been involved with and describe how job-costing might be implemented ...

A: Job costing includes tracing direct expenses related to each job and allocating overhead expenses on...

Q: Support Department Cost Allocation-Reciprocal Services Method Blue Africa Inc. produces laptops and ...

A: Costs of the service department is reapportioned to the production departments and sometimes also to...

Q: this is the whole question stop rejecting

A: Ledger account: It is used to record the business transactions that were made during a financial yea...

Q: What will be the Simultaneous Effects of Real Market Forces and Interest Rates on Property Values?a

A: There are various factors which affect the long term trends and short term trends in values of prope...

Q: Listed here are the total costs associated with the production of 1,000 drum sets manufactured by Tr...

A:   Variable costs : Variable costs are expenses that vary in proportion to the volume of goods or ser...

Q: oody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based ...

A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the que...