fundament
Q: es. Required: What journal entries are necessary for Enterprise t
A: Journal entries are the initial recording of all the monetary business transactions in a systematic ...
Q: A restaurant is considering the purchase of new tables and chairs for their dining room with an init...
A: Payback period = Initial investment / Annual cash flow
Q: On January 1, 2022, Colorado Company sold a machinery with an acquisition cost of P 1,000,000 and ac...
A: Present value of the bonds = Present value of principal + Present value of interest payments = face ...
Q: Accounts-receivable Jan. 1 P100,000 Accounts-receivable Dec. 31 P150,000 Inventory-Jan. 1 Inventory-...
A: Average collection period=Jan 1, receivables+Dec 31, receivables2Net sales×365=P100,000+P150,0002P 8...
Q: Find the number of regular hours and the overtime hours (hours over 40) for the employee. Then calcu...
A: Any number of hours worked by an employee which are more than regular working hours, are known as ov...
Q: Calculating income from investments in the middle of the year
A: (Amounts are in thousands) Given investment made in July 2011, Therefore KAR will be entitled for th...
Q: An office had 100 cleaning supplies on hand at the beginning of the period and purchased 600 cleanin...
A: Given information, Beginning cleaning supplies =100 Cleaning supplies purchased =600 Ending cleaning...
Q: Arevalo Machinery Company sold a custom production mill for $480,000, receiving a $60,000 down payme...
A: All assets and expenses in the business will normally have debit balance. All liabilities, capital a...
Q: 2. After weeks of negotiating. Celine and Andrea formed a partnership by cantributing the net assets...
A: Given Details Celine equity=P245800 Andrea capital=P307250 Contribution by net assets of business W...
Q: what is the correcting entry for... owner withdrew $2000 from the business for personal expenses
A: In case owner's withdraw cash for personal use, Cash is reduced from business and capital account is...
Q: What is meant by timestamp ordering and how it is different from optimistic currency
A: Currency is a medium of payment or format to exchange the worth of goods/services against their valu...
Q: Item: 2-7 are based on the following information Pasal Company has just prepared its master budget f...
A: SOLUTION- WORKING NOTE- PARTICULARS JAN FEB MARCH APRIL MAY JUNE CASH SALE 96000 (480000*20%) 1...
Q: Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division...
A: Net operating income: net operating income is the income generated by the company from its operation...
Q: Log Company’s credit sales are P300,000, and the collection period is 90 days. Cost is 70 percent of...
A: Receivables turnover ratio=365Collection period=36590=4.0 times
Q: Company A leases a motor vehicle from Company B. • The lease became effective 1 January 2014 and the...
A: Lease A lease can be defined as an agreement between two parties in which one party obtains the righ...
Q: difference between static and flexible budgets
A: Budgets are estimated projections for future prepared based on existing and previous financial histo...
Q: On January 1, 2021, ABC Co. sold equipment with a carrying amount of P480,000 in exchange for a P600...
A: Note Receivable is a form of current asset for the business, which means promise to receive amount a...
Q: COMPREHENSIVE PROBLEM Juana's sari-sari store had the following transactions during the year: a. Pur...
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Question 2 (5 points) You have been consulted to advice JJJ Corporation on the projected acquisition...
A: Year Annual Cashflow present Value of P1 at 20% Present Value 1 600,000 0.91 ...
Q: ompany is contemplating factoring its accounts receivable. The factor will acquire P250,000 of the c...
A: solution : Company is contemplating factoring its accounts receivable. The factor will acquire P250,...
Q: ou are the Chief Finance Officer of Pandemic Restaurant. Management has suggested of a possibility e...
A: Here given the details which are needed for the additional fund source whether to raised from the in...
Q: E. Charlton Company provided the following information concerning a defined benefit plan at the begi...
A: Fair value of plan assets at year-end = Fair value of plan assets at beginning + contribution to the...
Q: Feb 1. Analisa purchase merchandise with an invoice price of 280,000 and 3/10 , n/30 Feb 3. Analisa...
A: Under FOB Shopping terms, goods are meant to be under ownership of buyer when these are shipped by t...
Q: In the fiscal year just concluded, the University Shop reported net income of. P4,000,000 on sales o...
A: Fixed costs are those costs which do not change with change in level of activity. Fixed costs = Con...
Q: Winston started business on Jan. 1. During ghe year, the company purchased merchandise with an invoi...
A: Net purchases=Purchase+Freight-Purchase return-Purchase discount=5,000,000+200,000-800,000-100,000=4...
Q: net income using cash basis accounting
A: Under cash basis accounting, the income is recognized upon receipt and expense is recognized upon pa...
Q: 7. The partnership of William, jennings and Bryan have the following profit and loss ratios and capi...
A: The question is related to the Partnership Accounting and is of Admission of a partner. The profit s...
Q: You are one of five risk-neutral bidders participating in an independent private values auction. Eac...
A: In first price bid ,highest bidder among the bidders will win the auction. Value of bind=47000
Q: A. At the beginning of current year, an entity provided the following information in connection with...
A: Interest cost = Beginning Projected benefit obligation x discount rate = 13000000*10% = 1,300,000
Q: Note: Answer letter D only.
A: Solution : Answer to part D For solving part D we use the overallocated to each job using ABC Calcul...
Q: What is the correcting entry for.. the collection of accounts receivable of $680 was recorded as a d...
A: Accounts Receivable are those accounts to whom business has made credit sales on account and amount ...
Q: You are working for Heavy Industry Exports Group. Your corporation is going to pay an annual dividen...
A: Dividend +tax=8+(8/0.85)*0.15 =9.41
Q: QUESTION 1 The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual...
A: Calculation of preference dividend and equity dividend (in case of cumulative preference shareholder...
Q: information relates to this agreement. 1. The term of the non-cancelable lease is 3 years with no r...
A: Journal entries refer to the systematic documentation of the financial transactions of a company in ...
Q: 0679 or the Youth Entrepreneurship Act related to Empowering Entrepreneurs
A: Entrepreneurs refers to the individual or person who attempt for making the profit through starting ...
Q: Selected items from Lemus Enterprises 12-31-2019 and 12-31-2018, financial statements are presented ...
A: Assets Turnover Ratio determines the ability of a firm or company to generate revenue from its asse...
Q: LO.1 & LO.2 (Activity analysis; MCE) Log Cabins Unlimited constructs vacation houses in the North Ca...
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: On January 1, 2001, MM Inc. constructed a building classified as owner occupied property at a cost o...
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Amount to Be Withheld Employee Filing Status No. of Withholding Allowances Gross Wage or Salary...
A: Wage-Bracket Method: Employee Gross Wageor Salary Amount to BeWithheld Lennon, A. $675 $49 St...
Q: What is the main factor for a company in choosing between job order costing and process costing syst...
A: Job order costing is a costing method for calculating the cost of producing each product. This metho...
Q: Charlie’s Green Lawn Care is a cash basis taxpayer. Charlie Adame, the sole proprietor, is consideri...
A: Taxes are the amount of dues and liabilities that needs to be paid by individual to the government. ...
Q: The following information is available for Market, Inc. and Supply, Inc. at December 31: Accounts...
A: The ratio analysis helps to analyse the financial statements of the business.
Q: Please make the statement of cash flows
A: Cash flows statement is one of the financial statement of business, which shows all cash inflows and...
Q: Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at ...
A: The break-even point (BEP) seems to be an accounting term referring to the moment at which a firm's ...
Q: May 26, company sells 4 units of cookware @ $2,000 May 26 takes $5,000 for owner's benefit May 27 Ad...
A: Income Statement The purpose of preparing the income statement is to know the net income which are d...
Q: On January 1, 20xl, A and B, who share profits and losses on a 60:40 ratio, decided to liquidate the...
A: Capital Balance of A P12,00,000 Amount received by A P7,68,000 Share of loss of A (P1200000 - P7...
Q: Hought Office Machines, Inc.'s accountants assembled the following selected data for the year ended ...
A: Cash flows statement is one of the financial statement of business, which shows all cash inflows and...
Q: Compute for the following: 1. Current Ratio 2. Quick Ratio 3. Debt Ratio 4. Equity Ratio
A:
Q: e journal entries
A: Trade discount (List price * Rate of discount) = P108,000 * 15% P16,200 A Balance amount payable...
Q: The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of sell...
A: Accounts receivable for 60 days = Sales per month x 2 months = 25000 x 2 = P50,000
In accounting, what is the fundamental model?
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