What Is Forensic Accounting?

Q: Euclid acquires a 7-year class asset on May 9, 2020, for $96,600 (the only asset acquired during the...

A: Cost Recovery Deduction: When a company uses depreciation, amortisation, or depletion to reduce the ...

Q: „250,000, and P1,250,000, respectively. Six percent (6%) interest per a any excess or deficiency in ...

A:

Q: with no salvage value. Determine the length of service life necessary if the depreciation method use...

A: Depreciation refers to the process of configuring the diminished value of an asset until its value b...

Q: Cara Company provided the following information for the current year: January 1 December 31 Current ...

A: Working capital = Total current assets - Total current liabilities Shareholders equity = Total asset...

Q: Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) p...

A: Cost of Goods Sold=Finished goods inventory, Beginning+Goods added-Finished goods inventory, Ending

Q: APOL Company provided the following information related to the ending inventory of its Product X: Hi...

A: Inventory to be reported in the Statement of financial position = Lower of cost and Net realizable v...

Q: Compute the present value of the minimum lease payments

A: Present value of the lease payments means that value of the lease payments which the lessee is payin...

Q: Schedule of Cash Collections of Accounts Receivable Bark & Purr Supplies Inc., a pet wholesale supp...

A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account...

Q: Use the following information for Meeker Corp. to determine the amount of equity to report. $ 68,000...

A: D. $250,000 Assets - Liabilities = Owner's Equity Cash + Equipment + Land - Liabilities = Owner's Eq...

Q: Accounting Mint Cleaning Incorporated prepared the following unadjusted trial baland the end of its ...

A: The adjustment entries are prepared at year end to adjust the revenue and expenses at the year end.

Q: SST Jetski Corp. has sold motorized watercraft for a number c follows ASPE. Starting from 2020, SST ...

A:                                       QPP is Quality Payment Program is designed for rewarding physi...

Q: Record adjusting journal entries for each separate case below for year ended December 31. Assume no ...

A: Adjusting entries are those journal entries which are made at the end of the financial/accounting ye...

Q: Epon Corporation uses a process costing system based on the weighted average method. The production ...

A: Equivalent units concept is used when opening or ending work in progress is not 100% complete but pa...

Q: From the following information on the income statement and the balance sheet, what is free cash flow...

A: Free cash flow (FCF) to equity refers to the amount of income/profit generated during the period whi...

Q: What should be the reported amount of inventory on December 31, 2021? Eisha Company conducted a phys...

A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to...

Q: The interest rate written in the terms of the bond indenture is known as the 14 Select one: O a. cou...

A: Solution Concept The  rate stated in the bond instrument is called the stated rate Coupon rate means...

Q: Jones Corporation borrowed P80,000 from Brown Corporation on Jan 1,1993 and P12,000 on Jan 1, 1995. ...

A: The answer is stated below:

Q: Which of the statements related to stakeholder conflict in business is FALSE?  A. Stakeholders are ...

A: Solution Concept Stakeholders of business                 Stakeholders in business means the persons...

Q: 20x5 20x4 Sales $2,300,000 1,400,000 $1,900,000 1,200,000 Cost of goods sold Gross margin Operating ...

A: solution the following ratio analysis has been done asset turnover =sales / average total assets cur...

Q: error in the general yournal where a S6,050 increase in ACCounts Receivable was recorded as an incre...

A: In a trial balance , the debit side must always equal the credit side. If the debit side does not eq...

Q: What amount should be presented as a deduction from cost of goods sold?

A: The GAAP principles require that the inventory should be valued at the lessor amount of its laid dow...

Q: A company had no office supplies available at the beginning of the year. During the year, the compan...

A: Office supplies: office supplies can be referred to as assets that are used in the office like pen-p...

Q: The packaging department began the month with 500 units that were 100% complete with regard to mater...

A: Units transferred out = Beginning WIP + Units started - Ending WIP Compute the equivalent units of m...

Q: elect all that apply Determine which of the following statements below regarding a merchandiser are...

A: Solution Concept Merchandiser are the person who basically buys a merchandise and sells the merchand...

Q: Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After ...

A: The other assets is incorrect due to its classification , the presentation of the same is done at th...

Q: What will i do for the liquidation expense stated in the problem related to parnership liquidation i...

A: After receiving each installment from partners, Liquidation expenses is to be deducted before making...

Q: Assume Rajan Manufacturing Ltd makes sports vest for local soccer, baseball, basketball, and other s...

A: Differential analysis is a technique which shows the difference in total costs with two alternative ...

Q: A company purchased new furniture at a cost of $33,000 on September 30. The furniture is estimated t...

A: Depreciable cost =Cost-Salvage value=$33,000-$3,900=$29,100  

Q: A plant to provide the company’s present needs can be constructed for P 2,800,000 with an annual ope...

A:

Q: Corona Company uses a sales journal, a cash receipts journal, and a general journal to record transa...

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is recor...

Q: "The current month's bank statement for your account arrives in the mail.  In reviewing the statemen...

A: Answer: Case: "The current month's bank statement for your account arrives in the mail.  In reviewin...

Q: How do I identify and explain the classic budgeting error that Harlow apparently incorporated into h...

A: Total Cost=Direct material+Direct labor+Variable Overhead+Fixed Overhead

Q: 825.000 1.050 000 1.400 000

A: In the lower of cost and net realizable value which can be treated in the inventory price fluctuatio...

Q: On July 1, 20x1, Wash Co. grants a franchisee the right to sell Wash Co.’s products in a specific ma...

A: As per the Provision of PFRS 15 revenue can be recognise as per the detail given below. Since contra...

Q: Net income for the year was $45,500. Accounts receivable increased by $5,500, and accounts payable i...

A: Cash flow from operations = Net income + Increase/Decrease in Current liabilities/assets - Increase/...

Q: The stockholders' equity section of Meyer Corporation's balance sheet as of December 31, 2018 is as ...

A: Shareholders' equity section of a company represents the amount related to its shareholders. It incl...

Q: AJUMA Farms operates a farm with various plants and a herd of animals. On January 1, 2021, it had te...

A: The fixed assets which are biologically living or has natural life enabling them grow are called bio...

Q: BIR made disbursements for travel expenses of its personnel. Such would most likely be classified as...

A:             BIR is Burau of Internal Revenue of Phillipines regulates rule and regulations for taxat...

Q: On January 1, 2022, State Co. sold an equipment to Nation Co. The latter issued a five-year P500,000...

A: Present value of the Note  = Present value of principal + Present value of interest payments where, ...

Q: How do fraud symptoms help in detecting fraud?

A: Fraud symptoms are indicators used by investigators to identify the perpetrator. These fraud symptom...

Q: How much is the cost of goods sold using the specific identification method of inventory valuation? ...

A: First, find the cost of ending inventory and then deduct it from the total cost to compute the cost ...

Q: n Jan 1, 2020, Liezel Company issued 10% bonds in the face amount of P5,000,000 that mature on Jan 1...

A: Solution Given Face value 5000000 Issue price 4580000 Coupon rate 10% Effectiv...

Q: A sports complex is to be constructed. Two plans are under consideration. Plan A is to construct a t...

A:

Q: BC Corporation receives checks from its customers. The total check value averages 700,000 each day. ...

A: Solution Given The total check value averages  700,000 each day average days from deposits...

Q: On January 1, 2020, Indigo Animation sold a truck to Peete Finance for $48,000 and immediately lease...

A: Leases is a form of agreement or arrangement between two parties, under which one party provides its...

Q: Morrison Company Balance Sheet January 1 Assets Cash $ 40,950 Raw materials Work in process Finished...

A: Introduction- A balance sheet (also known as a statement of financial position or a statement of fin...

Q: hat is the maturity value of the loan if the proceeds is P22,000 at the rate of 10% for 10 months? P...

A: Solution Given Present value 22000 Interest rate 10% Period 10 months   Formul...

Q: Triton Consulting is a consulting firm owned and operated by Jayson Neese. The folloving end-of-peri...

A: Net Income = Total Revenue - Total expense Retained earnings , ending balance = Retained earnings , ...

Q: Levin Furniture buys a living room set with a $5,000 list price and a 50% trade discount. Freight (F...

A: Trade Discount  The purpose is to increase the sales Discount will be awarded in the invoice Not re...

Q: Sean sued an unscrupulous person for derogatory remarks which he considered to have besmirched his r...

A: Return on Capital = (Return / Capital) x 100 In the given case, Return = reimbursement for Attorney’...