cash and cash equivalents include
Q: LoLo Lemon Company has current assets Calculating the Current Ratio and the ear equal to $500,000.…
A: Introduction: Current ratio : Division of current liabilities with current Assets derives the…
Q: Henna Company produces and sells two products, Carvings and Mementos. It manufactures these products…
A: Carvings Mementos Sales Units 44000 44000 Sales 44000*17.6 774400 44000*17.6 774400…
Q: Use the following information: Net sales Cost of goods sold 180,000 124,000
A: Formula used: Gross profit ratio = ( Gross profit / Net sales ) x 100 Division of net sales with…
Q: The income statement, statement of retained earnings, and balance sheet for Somerville Company are…
A: Formula: Return on sales = ( Net income / Net sales ) x 100
Q: View Policies Current Attempt in Progress On July 1, 2022, Blossom Co. pays $12.000 to Nash's…
A: Introduction: Journal entries will not be used to record routine transactions like customer billings…
Q: 7. The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a a. debit to Sales…
A: Terms 2/10 means if the Buyer made the payment within 10 days from the date of invoice then 2%…
Q: Complete the following table using the perpetual FIFO method of inventory flow. Cost of Goods Sold…
A: The FIFO method stands for first in first out, where older inventory is sold first. Under perpetual…
Q: Ramona Company reported the following data. Price per unit = $10 Sales price Variable cost per unit…
A: Under Marginal costing (variable costing) contribution percentage or contribution per unit of…
Q: During 2010, Orca Corp. decided to change from the FIFO method of inventory valuation to the…
A: Inventory methods: Inventory methods are the accounting techniques used to evaluate the cost of…
Q: ) The index of general price changes rose steadily from 200 on 1 January 2021 to 220 on 31 December…
A: Current Purchasing Power (CPP).: It refers to convert the historical values/ measured of the items…
Q: Walker Corp. is a merchandising company that uses the periodic inventory system. Selected account…
A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory Net income = Sales - COGS -…
Q: ZTD tyres and tubes was using standard costing to compute its variances. Compute usage and price…
A: Standard costing is an method in which organisation make comparison between actual cost data with…
Q: Fleming, Fleming, and Johnson, a local CPA firm, provided the following data for individual returns…
A: 1) Physical flow schedule Units in Beg. WIP 0 Units Completed and…
Q: Question 2. Yle Auktioner AB goes bankrupt. The estate amounts to SEK 2,000,000. Creditors are…
A: The right to payment can be described as the right of any obligator to receive a periodic payment…
Q: A company reports the following: Total Assets $390,000 Total Liabilities 140,000 Total Stockholders'…
A: Formula: Debt ratio = ( Total Liabilities / Total Assets ) x 100
Q: a) Evaluate the financial performance of this company using the financial information only. b)…
A: Here discuss about the details of the evaluation of the performance with the financial activities…
Q: The following data for units shipped (*) and Y (shipping cost) has been observed over the last 6…
A: Calculation of Variable cost per unit using High-low method Variable cost per unit = (Highest…
Q: Employment Condition
A: 1.ANNUL LEAVE: the national employment standards provide 4 weeks paid annual leave for each year of…
Q: State with the help of an example how intelligent information systems also help to generate sales…
A: The money created by a company's operations is known as revenue. Revenue can be estimated in a…
Q: Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $81 a yard.…
A: Formula used: Total materials used = Actual materials value - Budgeted materials value
Q: Prior department costs are most similar to: A. Conversion costs that are added continuously…
A: Prior department costs are considered to be similar to Direct materials added to the very beginning…
Q: 20.Which of the following items is not a sub-category of shareholders’ equity? a. Share capital b.…
A: Shareholder equity means the amount that belong to the owner of the company i.e. share holder.…
Q: Which of the following can be described as common resources? i. snacks available at a function ii. a…
A: Common resources are generally defined as commonly available to all i.e available to general public…
Q: Highlight T Strikethrough Calculator Scratch Pad Pillar Co makes decorative candles which are made…
A:
Q: What is the amount of total credits for this trial balance?
A: TRIAL BALANCE IS A REPORT THAT LIST THE BALANCES OF ALL GENERAL LEDGER ACCCOUNTS OF AN ENTITY AT A…
Q: SixthZ currently produces and sells 1,200 treehouses per year and sells them at $1200 per treehouse.…
A: Introduction: Current stakeholders in a general company have equal financial and legal obligations.…
Q: Which of the following is not correct regarding the NOLCO? NOLCO is allowed as deduction from…
A: Income Tax- The federal, state, and local governments levy taxes on the gross income of individuals…
Q: Ramona Company reported the following data. Price per unit = $10 Sales price Variable cost per unit…
A: Introduction: Net income: Deduction of all expenses from revenues derives the Net income. Ne income…
Q: A domestic corporation was registered with the BIR in 2018. What year would the first MCIT will be…
A:
Q: On January 2, 2010, to better reflect the variable use of its only machine, Holly, Inc. elected to…
A: In the context of the given question, we are required to find the right option from the available…
Q: SixthZ incurred the following costs during 2018: Variable costs treehouse Manufacturing: Direct…
A: Variable Costing refers to a method of Costing where only Variable costs are considered at the time…
Q: The following dists from the just completed year are taken from the accounting records of Mason…
A: Cost of goods manufactured - Total Manufacturing Cost = Direct Material + Direct Labour + Factory…
Q: e and explain activities alonc n them in det core activity.
A: Value chain refers to the concept which elaborates the range of activities involved in transforming…
Q: actuarial and premium rating, and two operations departments - marketing and sales. The distribution…
A:
Q: At December 31, 2020, Grouper Company has outstanding noncancelable purchase commitments for 39.500…
A: Introduction: Journal entries should not be used to record routine transactions such as customer…
Q: Jamestown, Inc. is family-owned C-corporation whose stock is not traded on an exchange. Jamestown,…
A: Introduction: In the context of the presented question, we are expected to determine the number of…
Q: SixthZ currently produces and sells 1,200 treehouses per year and sells them at $1200 per treehouse.…
A: Introduction: Operating income is the money left over after deducting operating expenses and the…
Q: The Polaris Company uses a job-order costing system. The following transactions occurred in October:…
A: Introduction: Journal entries should not be used to record routine transactions such as customer…
Q: Scaffolder Ltd. is a manufacturing company making construction items. The production process is…
A: Apportionment of Overheads :- It refers to allotment of different item costs with their item units…
Q: escribe the points to consider a tax practitioner must consider while determining whether a taxpayer…
A: A tax practitioner is a person who not only prepares tax returns for his clients but also advises…
Q: Last year, Toby's Hats had net sales of $45,000,000 and cost of goods sold of $29,000,000. Toby's…
A: Introduction: Average accounts receivable: Sum of both Beginning and ending accounts receivables…
Q: What amount of unrealized gain should Sisig Corp. report in its December 31, 2020 Statement of…
A: Unrealized gain is the gain which has been earned by the company when the investment is measured at…
Q: How many common shares are unissued? 5. How many common shares were re-acquired by the company? 6.…
A: Given in the question: Authorized Preferred Number of stocks = 2,000 Authorized Common Number of…
Q: Use the Corporate Income Tax information above to answer this question. A corporation has a taxable…
A: Introduction: Cities, counties, school districts, and other municipalities may levy a local income…
Q: Is RR allowed to avail himself of the eight percent (8%) income tax? How will RR’s tax liability be…
A: Tax liability is the liabilities which have to be computed as per the tax rates specified by the…
Q: Case 2: ARC Corporation is operating in a very competitive environment and therefore cannot adopt…
A: Given that market price per unit is $65 Number of units produced = 20,000 units Required investment…
Q: Don takes out a 10-year loan of L, which he repays with annual payments at the end of each year…
A: Answer:
Q: State valid points about features of computerized accounting system with the context of modern…
A: Computerized accounting system: Computerized accounting system is use of accounting software to…
Q: Price per unit: $10 Variable cost per unit: $7 . Fixed costs: $1,500 Given these data, compute the…
A: Introduction: Break even units: Division of Unit contribution margin with Fixed cost derives the…
Q: Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other Total…
A: Formula: Average Total Assets = ( 20x1 assets value + 20x2 assets value ) / 2
Step by step
Solved in 2 steps
- What is cash paymentThe statements of financial position for W Limited are as follows: 31 December Non-current assets Land and buildings Cost/valuation Accumulated depreciation Plant and equipment Cost Accumulated depreciation Current assets Inventory Trade receivables Cash and cash equivalents Total Assets Equity and Liabilities Ordinary share capital ($1 shares) Share premium Revaluation reserve Retained earnings Non-current liabilities 12% debenture (2030) Current liabilities Trade payables Bank overdraft 2021 $000 4 1150 201 949 539 326 213 1162 117 135 252 1414 600 120 80 136 936 150 86 242 328 478 1414 2020 $000 650 160 490 454 274 180 670 89 103 37 229 899 400 70 109 579 200 120 120 320 899 Total liabilities Total equity and liabilities The following information is also available. 1 The cost of land and buildings at 31 December 2020 comprised of land $250000 and buildings $400 000. The land, which is not depreciated, had been revalued to $330 000 on 1 July 2021. 2 On 1 March 2021, a final dividend…PROOF OF CASH