elow roles is NOT performed by a management accountant?   Planning short run operations Implementing corporate governance Controlling operations

Q: n a finance lease, the lessee records interest expense only. lease expense only. amortization expe...

A: Solution: Finance lease is the giving right to use the asset along with the buy option at the end of...

Q: The capital structure of Bulldogs Inc. is comprised of 50% ordinary stock, 25% preferred stock, and ...

A: Formula: Weighted Average Cost of Capital = (Cost of Ordinary Stock X Weightage of Ordinary Stock) +...

Q: The following data are based on information in the 2019 annual reports of Abercrombie & Fitch, Compa...

A: Net income = Revenue - Expenses Dividend are paid from the net income of the year Retained Earning =...

Q: 34. A lessee with a finance lease containing a bargain purchase option should depreciate the leased...

A: Lease: It implies to a contract whereby one party transfers it's right of using an asset to another ...

Q: Prepare all entries Bramble should have made in its accounting records during August 2020 relating t...

A: Solution:- Given, Bramble has leased a large, Alpha-3 computer system from the manufacturer.  Lease ...

Q: 22. Dolan Company reports its income from investments under the equity method and recognized income...

A: Cash flow: It implies to the net flow of cash including any decrease or increase in the total cash o...

Q: The amount to be recorded as the cost of an asset under a finance lease is equal to the present va...

A: Solution: As per accounting standard of lease "At the inception of a finance lease, the lessee shoul...

Q: The initial direct costs of leasing include lessor advertising costs. are generally borne by the l...

A: Introduction:- Initial direct costs included costs incurred by the lessor. It includes the amounts o...

Q: right-of-use asset is increased by lease prepayments made by the lessee and initial direct costs i...

A: Solution: Right to use asset is the lessee's right to use or operate a leased asset during the lease...

Q: Lin Corporation has a single product whose selling price is $136 per unit and whose variable expense...

A: Formula: Contribution margin = Sales price - variable cost

Q: A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at 3% compound...

A: Amortization of Loan: An amortized loan is a form of loan in which the borrower is required to make ...

Q: ing transactions in M ased merchandise from Sabine Company under the following y (The cost of the me...

A: Thorsten Should be insuring the merchandise during shipping since Thorsten has purchased the merchan...

Q: The premium on a two-year insurance policy expiring on June 30, 2015, was paid in total on July 1, 2...

A: Insurance expenses for the next 2 years have to be apportioned based on the number of months; so, in...

Q: The following Trial Balance was prepared from the books of Maxwell Productions Ltd on December 31, 2...

A: In this question Trial Balance was prepared from the books of Maxwell Productions Ltd on December 31...

Q: On January 1, 2022 an SME acquired 25% of the equity of each of entities A and B for P1,000,000 and ...

A: Excel formulas which are used to calculate the carrying amount of investments.   

Q: Africa Traders bought furniture that will be used in the office of Africa Traders for R20 000 using ...

A: Lets understand the basics. Current asset is a asset a cash or asset which can be convertible into c...

Q: Don Johnson is the management accountant for Cari-Blocks (CB), which manufactures  specialty blocks....

A: Solution Manufacturing cost is the sum of costs of all resources consumed in the process of making a...

Q: Instructions 1. Prepare a 10-column worksheet. Show the adjustments (a) through (h)

A: Worksheet is a 10 column sheet being prepared in accounting, which first shows unadjusted general le...

Q: All of the following statements correctly describe a Health Care Spending Account (HCSA), EXCEPT: O ...

A: The concept of health care spending account is account for employee benefit.this account states that...

Q: Which statement of financial position accounts are most affected by financing activities?   a. Non-c...

A: Changes in non current assets are reflected in cash flow from investing activities Changes in non cu...

Q: Previtz Company produces two products from a joint process: X and Z. Joint processing costs for this...

A: Sales value at split off point = In this method Total sales value at split off point is taken to all...

Q: On January 2, 2020, P Company acquired 80% investment in S Company. The acquisition cost was equal t...

A: Retained Earnings For the consolidated retained earnings the parent company retained earnings and ad...

Q: Which of the following are considered separate financial statements? a. Those presented by a parent...

A: Separate financial statements are a special class of financial statements that have to be prepared u...

Q: Question 7 of 8 -/ 30 E Prepare an aging schedule to determine the total estimated uncollectibles ac...

A: Allowance for doubtful accounts is an estimate for the accounts receivables that might not be receiv...

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of th...

A: Applied overhead = Actual direct labor hours x Overhead rate Where,  Overhead rate = estimated that ...

Q: Treacy Company uses a job-order costing system. Assume that Job #504 is the only one in process. The...

A: Total cost of Job #504 = Direct material + Direct labor costs + Applied overhead cost where, Applied...

Q: 28. A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The...

A: There are 3 golden rules in accounting for passing journal entries : 1. Debit what comes in , Credi...

Q: Don Johnson is the management accountant for Cari-Blocks (CB), which manufactures  specialty blocks....

A: The process used by a business entity in order to record the standard production cost and the varian...

Q: On January 1, 2022, an SME acquired a building for P10,450,000 including P500,000 nonrefundable purc...

A: Given information, Present Value of Acquisition Cost =P10,450,000 Legal fees =P220,000 Discount rate...

Q: basic shareholders rights Group of answer choices The right to inspect the accounting records of the...

A: Shareholders are known as the owners of the company. And the control lies in their hands too. They r...

Q: PROBLEM 2: (CHANGE IN ACCOUNTING POLICY) Shilo Co. has been using the weighted average method of inv...

A: Accounting policy: Accounting policy includes those accounting methods, rules, concepts, and princip...

Q: Required: Prepare the journal entries on December 31, 2016, May 11, 2017 and June 12, 2017.

A: Journal entries refers to the official book of a company which is used to record the day to day tran...

Q: PR 18-5B Statement of cost of goods manufactured and income statement for a OBJ. 2, 3 manufacturing ...

A: Cost of Goods Manufactured: It is possible to compute a company's overall manufacturing expenses for...

Q: The company uses a perpetual inventory system and has a highly labour-intensive production process, ...

A: Journal entries- Journal entries refers to the official book of a company which is used to record th...

Q: A manufacturing company that produces a single product has provided the following data concerning it...

A: Variable costing is a cost accounting and management concept that deducts fixed manufacturing expens...

Q: Using th we erage me Data for July: work-in-process inventory, July 1 (36,000 units): Direct materia...

A: Equivalent unit for production  

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of th...

A: Solution....     Estimated manufacturing overhead costs  = $328,000. Estimated direct labor hours  =...

Q: E18.17 (LO 3) (Sales with Returns) Refer to the revenue arrangement in E18.16. Assume that instead o...

A: When a sale transaction is entered into by a company, there are some inherent risks that cannot be o...

Q: A home office ships merchandise to the branch at 30% above cost. The allowance for overvaluation at...

A: Net Income: Total revenue less all other expenditures and costs (including any other income and reve...

Q: manufacturing company applies factory overhead based on direct labor hours. At the beginning of the ...

A: Solution: Applied overhead is the overhead which is applied to production based on predetermined ove...

Q: Differentiate between the mechanisms of an “actual costing” budgetary system against a “normal costi...

A: Budgetary system is the system which is applied by the company in order to be on track and within th...

Q: A drilling machine may be used to dig ditches. The contractor purchased it for P200k & estimates tha...

A: Let's understand some basics Depreciation is an accounting method of allocating the cost of a tangib...

Q: Sunland Leasing Company agrees to lease equipment to Coronado Corporation on January 1, 2020. The fo...

A: The question is based on the concept of Financial Accounting.  

Q: One apparent violation of the Law on One Price is the pervasive discrepancy between the prices and n...

A: Law on price is based on one price concept in the whole market. It means security should be availabl...

Q: If the imputed charge is charge is 15% and Webb wants to achieve a residu target of P2,000,000, what...

A: Introduction:- The following formulas used to calculate as follows under:- Residual income = Net inc...

Q: When preparing a statement of cash flows (indirect method), which of the following is not an adjustm...

A: A change in income taxes payable Operating activity   A change in dividends payable Financing activi...

Q: Based on the following information, which of the following is closest to days' sales outstanding? •R...

A: Since opening accounts receivable is not given , we cannot calculate average accounts receivable , t...

Q: On January 2, 2020, P Company acquired 80% investment in S Company. The acquisition cost was equal t...

A: Retained earnings are the accumulation of earnings of the company. Whereas, consolidated retained ea...

Q: . What impact does a bargain purchase option have on the present value of the lease payments comput...

A: Introduction:- A bargain purchase option in a lease permit or gives the lessee to purchase the lease...

Q: The accountant of AA Company gathered the following information: The November 30 bank statement bal...

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with...