Give example of personal assets
Q: an investment broker for Fernanda and Tigstu, what would If you were you advise them to do about the...
A: Since you have asked two questions and as per our protocol we provide solution to the one question o...
Q: The following information pertains to E Company, Budgeted sales -P1,000,000. Break even sales P700,0...
A: The margin of safety represents the difference between the forecasted amount of sales and the break-...
Q: For the purposes of equity accounting, it is presumea that the investor has significant infiuence ov...
A: SOLUTION An Entity is separate and distinct business unit for purposes.it have separate books of acc...
Q: Use the information below (in millions) to determine net cash inflows (outflows) from operating acti...
A: Cash Flow Statement - Under Cash Flow, there are three types of activities involved - Operating Acti...
Q: Why some time tradition costing system will have same overhead cost with activity based costing?
A: Solution Traditional costing is a system of coting in which the overhead is allocated using a single...
Q: How do you view goodwill on the balance sheet - specifically, if certain levels of it would cause co...
A: 1.) I see the goodwill on the balance sheet as synergies , which was estimated at the time of the aq...
Q: Journal Entries Date Particulars Dr Cr Jan 1 Mr. Bon Hok A/c Cash A/c (Being cash withdraw) P20,000 ...
A: Ledger is second form of accounting record to record transaction in books after Journal. It simplifi...
Q: This is a situation where the seller actually paid the freight charges but is not legally responsibl...
A: FOB Destination, Freight Collect: If the products are sent FOB destination, the customer is responsi...
Q: LO 8.6Using the following information, prepare a bank reconciliation. Bank balance: $4,021 • Book ba...
A: Theory: BRS: BRS stands for Bank Reconciliation statement. The main purpose of preparing BRS is to e...
Q: 18.A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional f...
A: Fair value of the product means actual resale or replacement value of the product in the market. Any...
Q: 6. What is the disposition for special order goods manufactured by an entity that are segregated but...
A:
Q: On April 1, Anita Strods created a new travel agency, Strods Travel. The following transactions occu...
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Q: Pomelo Company has the policy of valuing inventory at the lower of cost and net realizable value usi...
A: Inventory is one of the important current asset of the business. Mostly all businesses prefer to val...
Q: At December 31, 2021, the accounting staff of Persimmon Company submitted an inventory list that sho...
A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...
Q: Adjusted Entries: Accrued sales revenue: 29500 Rent Revenue Earned: 14,000 rent was initially prep...
A: Adjustments are increased or decreased the net income of the entity. Revenue adjustments have increa...
Q: A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five ...
A: January 1, 2021 Fair value of 2 years old cattle = 35 x 12,500 = 437,500 Fair value of newborn calve...
Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materi...
A: Prime cost refers to the sum of direct material and direct labor of the entity.
Q: On January 1, 2020, Seabreeze Construction Company owned 4 dump trucks, 2 excavators and other const...
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as D...
Q: • Based on this information can you create an Income Statment • Accounts Receivable $1,200 • Account...
A: Income statement is one of the significant financial statement. This shows the entities' profitabili...
Q: The 2021 balance sheet for Hallbrook Industries, Inc., is shown below. HALLBROOK INDUSTRIES, INC. Ba...
A: Ratio analysis means where different ratio of various years of years companies has been compared and...
Q: e following 's salary est earned c st paid on
A: Itemized deduction = 12700+9400=22100 Standard deduction for Married filling jointly = 24000 And thu...
Q: Topic major measures of Central value A machinery depreciated by 40% in the first year, 25 per cent ...
A: Here in this question, we are required to calculate average rate of depreciation for the period. For...
Q: Required: Determine the following 2021 balance sheet items: 1. Current assets 2. Shareholders' equit...
A: Solution Formula used Current ratio =current assets / current liabilities Acid test ratio =c...
Q: 27.IAS 2, Inventories requires that the lower of cost and net realizable value shall be applied a....
A: Introduction:- Inventories are valued at cost or net realizable value (Whichever is lower) Cost of ...
Q: Wagner
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Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materi...
A: Prime costs means cost of direct materials and direct labour used for the business. Total manufactur...
Q: Hartley Uniforms produces uniforms. The company allocates manufacturing overhead based on the machin...
A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated base a...
Q: What type of "event" results in goodwill being recorded on a company's balance sheet? How is goodwil...
A: Goodwill is an non-physical asset i.e. intangible. It shows the customer base in loyalty or brand te...
Q: Employee Filing Status No. of Withholding Allowances Gross Wage or Salary Percentage Method Wage...
A: Solution A Wage is compensation paid to employees for work for a company during a period of time.
Q: For questions 2-3, use the following information. Please show solutions. Ms. QWE began a business on...
A: An accounting equation refers to a mathematical representation of the transaction. It indicates that...
Q: Direct labor and direct materials are a. period costs and expensed when the goods are sold b. ...
A: The different costs related to productions and selling are classified as product and period cost res...
Q: try Prepare the journal entries for the following transactions: luly 1-Mr. Bon Hok withdraw P20,000 ...
A: Date particulars Dr amount Cr amount July 1 Mr Bon Hok capital a/c 20,000 Cash a/c 20,000 ...
Q: A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five ...
A: January 1, 2021 Fair value of 2 years old cattle = 35 x 12,500 = 437,500 Fair value of newborn calve...
Q: Is a Microsoft subscription considered as a prepaid expense? Also, if it's considered or recorded (f...
A: Prepaid expenses are those expenses which are paid in advance for future period of time. This is a f...
Q: x withheld $27,000 $30,000 Est $31,000 Advise Michelle as to her instalment payment options for 2021...
A: The tax is given as,
Q: 8. Five annual deposits in the amounts of $10,000, $8,000, $6,000, $4,000, and $2,000, in that order...
A: Year Deposit 1 10000 2 8000 3 6000 4 4000 5 2000 Discount rate = 8%
Q: Shah Rukh invested RM5 000 in an investment fund for three years. At the end of the investment perio...
A: Simple interest is the amount of interest which is incurred or earned over the period of time. Under...
Q: Bramble Corporation reported net cash provided by operating activities of $361,200, net cash used by...
A: Free cash flow is the remaining amount after paying out operating expenses and capital expenditures.
Q: Wnen presenting a consolidated statement of financial position, the non-controlling interest is:
A: Non-controlling interest is also sometimes written as NCI. It arises when someone holds less than 50...
Q: After the accounts have been adjusted at October 31, the end of the fiscal year, the following balan...
A: Closing Journal Entry: Closing journal entries are passed at the end of the accounting period. In th...
Q: Which of the following errors, each considered individually, would cause the trial balance to be out...
A: A trial balance is prepared with a view to ensure the arithmetic accuracy of the the account balance...
Q: Required: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle effi...
A: As per our protocol we provide solution to the one question or up to first three sub-parts only but ...
Q: A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five...
A: Fair value with no growth: December 31, 2021 Fair value with no growth (Same Age) 2 years old = 35 ...
Q: What is the journal entry to replenish the petty cash fund if expenses were Auto Expense $75, Office...
A: Petty cash is the money that a entity keeps on hand to make small payments, purchases, and reimburse...
Q: P60,000 while Partner Y received P100,000. Partner X’s share in residual income after deducting thei...
A: Partnership in the simplest form of business from by two or more person in order to share their inte...
Q: QUESTION 23 For 2021, Forrway Corporation, an Accrual Basis calendar year corporation, had Net incom...
A: Solution Net Income Refer to the amount an individual or business makes after deducting costs, allow...
Q: Total Asset P 57,7 Liabilities and Capital Accounts Payable P 3,200 Notes Payable 30,350 Total Liabi...
A: The equity comprises of capital and retained earnings of the business.
Q: Use the following tables to calculate the present value of a $774,000 @ 6%, 5-year bond that pays $4...
A: Lets understand the basics. For calculating present value of bond, we need to use below formula. = (...
Q: A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five...
A: Fair value less cost to sell on January 1, 2021: Fair value of 2 years old cattle = 35 x 12,500 = 43...
Q: The shareholders' equity of Gregorio Company included P4,000,000 of P10 par ordinary share capital a...
A: A dividend is considered as a part of the distributable profit distributed by the company to its sto...
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