Explain how businesses can use smart contracts tofacilitate transactions.

Q: Costs of a product that are regarded as an asset for financial reporting under GAAP are called

A: Cost of product are regarded as an asset if the product is not yet sold. Product cost are also known...

Q: Which of the following is not an objective of product costing systems? a. To assist in the preparat...

A: Solution  Product costing system are used to assign a cost to a manufactured product.

Q: Revolving fund 100,000 Visa Card - credit limit 20,000 Required: Compute the cash and cash equivalen...

A: Cash and Cash Equivalents Cash and Cash Equivalents are important part in the current assets of the ...

Q: ho started the business c unts to 31st of Septembe

A: The income statement is given as,

Q: 1. Calculate the sales-price variance for latex-based paint 2. Calculate the sales-volume variance f...

A:

Q: ABC Company is a relatively small dry-cleaning operation that has a very steady level of business. ...

A: Solution Fraud is the illegal alternation of a company's financial statements in order to manipulate...

Q: Which of the following statements is true with regard to activity-based costing? Multiple Cholce Act...

A: Activity-based costing is a method of costing that identify activities in an business and assigns th...

Q: RSV Co reports only current assets and current liabilities on its balance sheet. Property, plant and...

A: Accounting Assumptions - There are 3 basic assumptions of accounting these are - 1. Accrual 2. Going...

Q: Given a financial institution that make money in three ways: interest income, interest income, and i...

A: Banks and Financial institutions make most of their money from loaning and re-loaning money. Low int...

Q: Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs and allo...

A: Total cost assigned to the Job = Direct material costs + Direct labor costs + Overhead where, Direct...

Q: An asset was purchased and installed for $277,685. The asset is classified as MACRS 7-year property....

A: Depreciation: Generally speaking, the word "depreciation" refers to an accounting process that is us...

Q: Prepare a schedule showing a vertical analysis for 2022 and 20 SWIFTY CORPORATION Condensed Income S...

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

Q: The TimpRiders LP has operated a motorcycle dealership for a number of years. Lance is the limited p...

A: In partnership, a basis can be calculated as  =[contribution made toward partnership firm as cash]+[...

Q: Which of the following is not classified among the financing activities in a statement of cash flows...

A: payment of interest to creditors is not classified as financing activity in statement of cash flow  ...

Q: Directions: Enter the transactions below, using the Chart of Accounts. TRANSACTIONS: (July) July 17 ...

A: Introduction: Journals: Recording of a business transactions in a chronological order. Firs step in ...

Q: Which of the following statement is not true?

A: Special journal is prime book of entry it would record and analyze specific transactions. making sp...

Q: Examine the basic concepts and techniques of financial management and its relevance in measuring the...

A: Financial Management It is important in the business entity to make effective in the financial manag...

Q: 5. Amanufacturer has been shipping his product (moderately heavy machines), mounted only on skids wi...

A: The main motive of every business organization is to deliver their product from that mode of transpo...

Q: ABC Corp has P100,000 collectibles from Mr. Naki Utang who became insolvent with P60,000 assets and ...

A: 1. Income tax liability = 20% of P 200,000 = P 40,000  2. Income Tax liability will be paid on prior...

Q: Which of the following manufacturers is less likely to use a job accounting system ?     a. A shi...

A: Job accounting system: It implies to as one of the costing method under which the costs incurred in ...

Q: tamarisk, Inc. is a company that manufactures and sells a single product. Unit sales for each of the...

A: Solution Budget is the estimation of revenue and expenses over a specified future period of time.

Q: S Ltd absorbs overheads based on units produced. In one period 110,000 units were produced and the a...

A: Absorption of overheads may be based on either on the actual rate or predetermined rate.Under the ac...

Q: Victor Inc. has just received its sales and expense report for December, which follows. Item Amount ...

A: A pro forma statement shows the possible sources of revenue and expenses and tries to derive the ant...

Q: Consider the following events: 25,000 shares of preferred stock, cumulative, 5%, $40 par was issued ...

A: Cash flow statement means the statement which shows the cash flow in or out of business enterprises ...

Q: 10. Target Corp shows, on its Balance Sheet: Cash of $1,000; Property and Equipment of $5,000; Liabi...

A: Lets understand the basics. When acquirer paid more than the fair value of net asset then excess por...

Q: 1. Company policy 2. Control account to be balanced 3. Personnel access controls

A: Since we answer up to 3 sub-parts, we'll answer the first 3. Please resubmit the question and specif...

Q: Viva sells its waterproof phone case for $118 per unit. Fixed costs total $232,000, and variable cos...

A: Answer Selling price per unit =$118 Fixed cost = $232000 Variable cost per unit = $53 1)Contribution...

Q: Stockholders’ equity consists of which of the following?A. bonds payableB. retained earnings and acc...

A: Balance sheet is one of the important financial statement of the business. Three main elements of ba...

Q: Vhich of the following statements Is true with regard to activity-based costing? Multiple Cholce Act...

A: Solution: Under activity based costing, Cost are allocated to various cost pools and then their acti...

Q: Please explain assets?

A: The question has only asked for to explain assets. And the answer is as below; As per International ...

Q: Data for Barry Computer Co. and its industry averages follow. The firm’s debt is priced at par, so t...

A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the quest...

Q: According to the FDIC, they would like to see fewer banks in the future. What will be the outcome an...

A: FDIC mentions in its latest report that they will see lesser banks in the future , the explanation o...

Q: Laker Company reported the following January purchases and sales data for its only product. Units so...

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: An inventory of supplies showed $200 of supplies were left 2. There was $500 of depreciation on Fur...

A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred b...

Q: Which of the following best describes a contingent liability that is unlikely to occur?A. remoteB. p...

A: Contingent liabilities are those liabilities that will occur on the basis of future events. These li...

Q: A customer hands you $3,850 in cash and would like to purchase 14 prepaid cards of $275 each. The cu...

A: As per policy, POS register do not allows more than $ 2000 for a single transaction. Doing individua...

Q: A television company purchased machinery for BD20,000 in 2009. It is estimated to have a useful life...

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage a...

Q: ermin company had 200,000 ordinary shares outstanding on January 1.  In addition, as of January 1, t...

A: Solution Concept Basic earning per share                 =net income for common shareholder / weight...

Q: Popoy is a messenger of Basha Logistics. He receives a monthly salary of P25,000. At the end of the ...

A: computation of taxable income of Mr. Popoy  for the year particulars  Amount (PHP) Basic salar...

Q: A publishing company is planning on developing an SPSS Manual for graduate students in doctoral prog...

A: Contribution per unit = Selling price per unit - Variable cost per unit                            ...

Q: Margin of Safety Yellow Sticker Company's variable expenses are 40% of sales. The company has monthl...

A: Lets understand the basics. Margin of safety is a all the sales over break even point. Formula (For ...

Q: LMN Corp has the following data showing for the current year: Interest on peso savings account, net ...

A: Solution Concept The interest deduction allowable is 20% of the interest income that is chargeable t...

Q: Determine whether each procedure described below is an internal control strength or weakness; then i...

A: Step2 in the solution. 

Q: View Policies Current Attempt in Progress On November 1, 2021, Golden Valley Inc. accepted a three-m...

A: >Note receivables are the current asset. >It can be accepted in case of: --when goods ...

Q: On January 1,2020 , Red Day Company granted 80 share options to each of its 400 employees for the pu...

A: If market related conditions are failed , we will continue to record expense , i.e. we will not reve...

Q: Uncollectible Accounts-Allowance Method Pyle Nurseries uses the allowance method to record the follo...

A: Allowance Method - Under allowance method company make provision of uncollectible accounts at the en...

Q: Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, t...

A: Answer -  Part 4 - Calculation of New Selling Price -  Variable cost per unit ( $15 + $3) = $18 per ...

Q: The following information pertains to Ft. Collins Company's direct labor for March 2019: Standard di...

A: The variance is the difference between the actual data and standard output of the production. 

Q: Equivalent units of production are equal to: Multiple Cholce The number of whole units that could ha...

A: The equivalent units are calculated on the basis of percentage of the work completed during the peri...

Q: The following information has been obtained for Sheridan Corporation. 1. Prior to 2020, taxable inco...

A: Introduction:- Individuals or enterprises (taxpayers) pay an income tax depending on their earnings ...