$2, 45 days at 8% is $30.
Q: ect of an operating lease on the income distribution schedule: a. is non-existent. b. affects…
A: Lease - Contracts or documents that transfer property from one party to another for a predetermined…
Q: Benson Limited is constructing a Power Plant which was completed on 31st December 2019. The company…
A: Borrowing cost is capitalised when the amount is borrowed for the construction of qualifying assets.…
Q: a seller's marginal cost of a unit of a good is $20, and a buyer’s marginal benefit from consuming…
A: Total surplus generated from trading =Consumer surplus + producers surplus = $20+$40 =$60
Q: Rondeau, Incorporated, manufactures and sells two products: Product V9 and Product M6. Data…
A: Traditional Costing Method :— Under this method, Overhead is allocated to product on the basis of…
Q: Rundle Company began operations on January 1, year 1, by issuing common stock for $33,000 cash.…
A: Income statement is the financial statement which is prepared to depict the profitability of the…
Q: Compute the missing amounts in the contribution income statement shown below: (Round "Per Unit"…
A: A financial statement that outlines a company's income and costs is known as an income statement. It…
Q: Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the…
A: Relevant Cost :— These are the cost that affects decision making. It is calculated as follows :—…
Q: In 2021, the Westgate Construction Company entered into a contract to construct a road Santa Clara…
A: Solution: 2021 2022 2023 Revenue $28,00,000 $31,00,000 $41,00,000 Gross profit (loss)…
Q: Jackson Company has the following information for the current period for the Mixing Department:…
A:
Q: The cost of an asset is $1,150,000, and its residual value is $210,000. Estimated useful life of the…
A: There are a few advantages to employing the double declining balance technique of depreciation. One…
Q: Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory…
A:
Q: Question 4 Alpha Manufacturing Inc. is interested to know whether their monthly capacity of 500…
A: Contribution Margin Per Unit (CM Per Unit) :— It is the difference between sales per unit and…
Q: Mr Cruz, procured a tract of timber for P65,000. The worth of the land was established tobe P17,000…
A: The depletion is a method of accrual accounting that is used to calculate the cost of extracting…
Q: The Journal entry to record payment of cash for office supplies is which of the following types of…
A: Adjusting entries are those entries that are recorded at the end of the accounting period to get the…
Q: Question: 1) Determine the profit/loss figure from the information given below: Sales : $90 000 cost…
A: Profit or loss is the differential between an organization's revenue and all other income, as well…
Q: Smith obtained following nformation related to the investments from Acme's ecember 31, Year ,…
A:
Q: as good brands A company does good deed
A: Goodwill normally arises at the time of acquisition. It is the purchase value it pays over and above…
Q: The Layal Corporation has compiled the following financial data for a new retail facility: annual…
A: The break-even point is the point of sales at which the entity earns profit enough only to cover its…
Q: mational Financial Reporting Standards are taking rool throughout the wor True False
A: Corporation - An organization that has been registered as a corporation under a corporation act has…
Q: Sales in Gallons Year Magnificent Marvelous 2014 424,000 None 2015 425,000 None…
A: Sales Projection Using Exponential Smoothing A forecasting technique called exponential smoothing…
Q: 5. Panadera Bakeshop involved in livestock production having a loan of P250,000 from City Savings…
A: Loan amount = 250000 Interest is compounded @ 12% P.A. r = 12% Loan Period (n) = 2 Years
Q: X Company sells one product. The following are the accountant's price and cost estimates for next…
A: The Break-even point indicates that total units are to be sold by the business entity to recover its…
Q: Ahmed, a single taxpayer with a marginal tax rate of 35 percent (taxable income is $312,000 before…
A: It is the increase or decrease in the value of an asset at a given date or time in comparison to its…
Q: The information and answer is given in the images. I just need to know how they calculated imputed…
A: Computation of imputed housing loan interest Housing loan amount $200,000 Loan taken on November…
Q: Output Total cost($) 200 7,000 300 8,000 400…
A: Answer : Output Total cost 200 7000 300 8000 400 9000
Q: Awesome Day Event Planners pays a 3% bonus to employees on annual net income after deducting the…
A: Bonus is the amount paid to the workers or employees in addition to their normal or regular pay. It…
Q: PSC 5-9 Calculate Self-Employment Tax For each of the following individuals, calculate the…
A: According to the given question, we are required to compute the self-employment tax for the year.…
Q: Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s…
A: Manufacturing overhead applied=Actual direct labor hours×Predetermined overhead rate
Q: During the last accounting period, Carla Vista Corporation sold 96000 units at $45 each. The…
A: The contribution margin is calculated as difference between sales and variable costs. The operating…
Q: ■ Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3,…
A: Cost of goods manufactured - The cost of Goods Manufactured is the total cost incurred for…
Q: Select all the correct Tax Reduction Strategies
A: A tax strategies are the methods which is used by the taxpayers which are the authentic sources of…
Q: Essence of Skunk Fragrances, Limited, sells 4,000 units of its perfume collection each year at a…
A: The average collection period indicates the number of days of sales to be collected. The accounts…
Q: Assume the same situation as described in (2) above, except that the company expects to sell 50,000…
A: Workings:
Q: Pls explain why is assets is not balance with the liabilities and equity, asap.
A: Accounting equation= Accounting equation states that Assets should be equal to the equity+…
Q: 7) Management may impose internal limits on investment expenditure despite the availability of…
A: Soft capital rationing: Internal rationing is another name for this second kind of restriction. It…
Q: What is accounting?
A: ACCOUNTING Accounting is the process of recording Financial Transactions related to Business.…
Q: Rivendell Corporation uses the accrual method of accounting and has the following assets as of the…
A: Changing from a C company to a S corporation might lead to an increase in the amount of money paid…
Q: ■ Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3,…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Brummel Company plans to develop a shopping center. In the first quarter, the following amounts were…
A: Cost of Land includes: Cost of contract price Legal fees Title search Insurance, and past due taxes…
Q: Chance Company had two operating divisions, one manufacturing farm equipment and the other office…
A: Discontinued operations refer to those business divisions that the management decides to close due…
Q: Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard Deduction Exemptions (per person) $4,100 nd Tina's…
A: Every person, every organization, and every company has earned income, but they all have to pay a…
Q: 1) Calculate the closing capital from the above information: Drawings: $20 000 opening capital: $100…
A: Closing Capital = Opening Capital - Net Loss - Drawings
Q: art One: 2018: 31.57% 2019: 24.88% 2020: 25.53% 2021:15.09% 2022:16.03% Based on your…
A: Return on Equity - It refers to the percentage of profit earned on shareholder equity and it can be…
Q: Judon Corp. provides the following information from its annual report. Assume all revenues are…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: the pro forma balance sheet still has to be completed. The following information is available as…
A: A balance sheet provides an overview of a company's assets, liabilities, and shareholders' equity at…
Q: The following related entries were recorded in sequence in the general fund of a municipality: 1. 2.…
A: The correct answer is option - b) the process of recognised expenditures
Q: Calloway Cab Company determines its break-even strictly on the basis of cash expenditures related to…
A: The Break-even point indicates that total units are to be sold by the business entity to recover its…
Q: Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s…
A: 1. At the start of production, the work in progress (WIP) account is updated with the expenses of…
Q: On July 1, 2024, Action Printers purchased a printer for $67,000. It expects the printer to last for…
A: In the case of an asset purchased during the year depreciation of an asset under the straight-line…
Q: A firm has revenue of $14,000,000 and a goal of a 12% return on sales. What does profit need to be…
A: Ans. If revenue is $14,000,000 and the goal is to get a 12% return on sales, then the profit will be…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of 150,000. A. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. B. Determine the proceeds of the note, assuming the note is discounted at 10%.Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383
- 1. The interest on a $4,800 note at 5% for 4 months is ________. Please show steps.7. A 62-day note for $115 bears interest at 5.75% and is sold 26 days before the due date to a bank that discounts notes using a simple interest rate of 7.5%. What are the proceeds?The interest on a 6%, 60-day note for $5,000 is $300. O True O False
- A 120-day, 10% interest-bearing note receivable is sold to a bank with recourseafter being held for 60 days. The proceeds are calculated using an 8% interest rate. In this situation,what happened to the notes receivable?A 2300 note with interest is repaid after 90 days with a check for 2,374.75 What was the interest rateA 60-day, 5% note for $10,200, dated April 15, is received from a customer on account. The face value of the note is a.$510 b.$10,200 c.$10,710 d.$10,285
- On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $300,000. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%.A 102-day note for $85 bears simple interest at 4.5% and is sold 22 days before maturity to a bank that uses a simple interest rate of 8%. What are the proceeds?On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $46,800. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.fill in the blank 1 of 2$ b. Determine the proceeds of the note, assuming the note is discounted at 10%.fill in the blank 2 of 2$