What is the accredited national professional organization of CPAs in the Philippines? Identify the sectoral organization for each 4 sectors of accounting practice .

Q: After the disposal of an asset, the balance in the Accumulated Depreciation account related to that ...

A: Depreciation are required to be charged by the business entities so as to shown the assets in the ac...

Q: Activity 2: Identification Directions: Identify the accounting principles that are being violated in...

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...

Q: tealesxille Sanctuary is a family-owned and operated wildlife park located in Melbourne. Healesville...

A: Answer:- The answers to each individual situation is as follows; i) Here the omission of manual invo...

Q: What does the expression “marginal product of labour” mean ? Why do workers (skilled and unskilled) ...

A: marginal product of labour is concept of economics. this concept is generally used in economics when...

Q: Is it possible for a worksheet's income statement and balance sheet columns to sum up when they are ...

A: solution worksheet for income statement and balance sheet                 Before preparing the incom...

Q: In December 2018, General Electric (GE) had a book value of equity of $51.5 billion, 8.6 billion sha...

A: Market capitalization = Market price per share * Number of shares outstanding Market-to-book ratio =...

Q: Compute the individual product and total sales volume variances for August. Compute the individual ...

A: 1. Sales Volume Variance             Budgeted Sales Volume in Kg  (A)  Actual Sales Volume in Kg  ...

Q: Which section and subsection of the Internal Revenue Code defines the tax rates to be imposed on qua...

A: Section and subsection of the Internal Revenue Code defines the tax rates to be imposed on qualified...

Q: Computer Equipment Accounts Payable Repairs Expense, Computer Charitable Donations Expense 167 684 2...

A: Financial statements (FS) are those statements which are prepared by the companies during the end of...

Q: Ace Holding Co. shows the following investments in its accounting records at January 1, 2020: Ordina...

A: Solution Royalty income is income received from allowing someone to use your property. Royalties are...

Q: wner borrowed P4,000,000 in notes from the bank and paid of notes of P3,000,000 and interest of P240...

A: Computation of the net income for the current year.   Effect on Equity       Increase Decrease ...

Q: $ 120,400 71,400 1,932,000 210,000 28,000 210,000 Interest revenue Cash Sales Accumulated depreciati...

A: The income statement explains the financial performance of the company for a particular period of ti...

Q: Prepare any journal entry necessary to record the LCNRV of the paper inventory at (1) June 30, (2) J...

A: Solution: As per GAAP, Inventory is to be valued at cost or NRV whichever is lower in the financial ...

Q: On January 1, 2017, Metlock Corporation signed a 3-year noncancelable lease for several computers. T...

A: 1) Incremental Rate of Borrowing = 11% PV of Minimum Lease Payments when annuity due = Annul lease p...

Q: Compton Information Services, Inc., has two service departments: human resources and billing. Compto...

A: Answer  -  Step Method of Cost Allocation  -    This method an approach used to allocate the cost of...

Q: If you deposit $100 in an account earning 6%, how much would have in the account after 1 year? you

A: For that we need to calculate the future value which is calculated on the basis of particular rate o...

Q: Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1   I...

A: As per the guidelines, only one question is allowed to be answered. Please resubmit the question sep...

Q: A U.S. Based company has a short-term cash balance of USD 10 million. The company intends to invest ...

A: Implied rate is the difference between the current spot rate and future exchange rate. Therefore, as...

Q: F Polk, after being in Bakery business for some years without keeping proper records, now decides to...

A: Answer:-   

Q: Discuss the Usefulness of the Statement of Financial Position (Balance Sheet)  and The Statement of ...

A: financial statement and statement , shows the company's profit and its position at the end of period...

Q: nitial direct costs are immediately recognized as an expense by the lessor when the cost incurred in...

A: Lease agreement is the agreement in which a person acquires the right to use the asset of other at a...

Q: Republika Inc. reported the following prospective information:   Year 1 Year 2 Year 3 Revenues   7...

A: Income statement is prepared by the business organizations so as to determine how much amount of Gro...

Q: Determine total contra revenues for

A: 6. total contra revenue = sales allowance + sales discounts + sales return = 3500+18000+9000 = 30500

Q: The income statement of Stellar Company is shown below. Sales revenue $6,630,000 Cost of goods so...

A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the...

Q: ABC owns 30% of MELY, which it purchased on 1 January 20X7 for $5,000,000. At that date, MELY had re...

A: The corporation which has substantial amount of investment in other corporation is called parent com...

Q: The direct labor standards for producing a unit of a product are two hours at Ph10 per hour. Budgete...

A: Standard hrs per unit = 2 Hours Standard rate (SR) = Ph10 Actual production = 900  Units Standard hr...

Q: The following information is available for the Danske Company: Denominator hours for May 20,000 Actu...

A: Actual Total Overhead = Variable overhead applied based on direct labor hours allowed + Fixed overhe...

Q: Use the following to answer questions 28 – 30 The company lent $100,000 on September 1, 20XA at 3% s...

A: Interest revenue = Amount lent x rate of interest x No. of months / 12

Q: A manager prepared the following table by which to analyze labor costs for the month: Actual hours a...

A: Total labor variance = Standard hours at Standard rate - Actual hours at Actual rate Actual hours at...

Q: Compton Information Services, Ic., has two service departments: human resources and billing. Compton...

A:

Q: Oscar Wylee Women Glass Ltd is a supplier of fashion women sunglasses. The audit report for the year...

A: Audit Responsibility The responsibility of the Auditing is to check and verify the transaction which...

Q: equipment this month is $300. The necessary adjusting entry will include

A: Solution: Adjusting entries are those entries which are made to match the revenues or expenses to th...

Q: -cancelable lease agreement between Faldo Leasing Company and Pina Company, a lessee. Commencement...

A:

Q: Ivanhoe Corporation was organized on January 1, 2020. It is authorized to issue 9,100 shares of 8%, ...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: Required information (The following information applies to the questions displayed below) Warnerwood...

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.

Q: Boracay Company manufactures desks with vinyl tops. The standard material cost for the vinyl used fo...

A: Material usage variance = (Actual quantity used - Standard quantity allowed)*Standard rate per squar...

Q: What is 'fair value',and why is it relevant to consolidation accounting?

A:

Q: tax liability

A: Percentage tax Is applicable only if the gross receipts of the Radio broadcasting company is listing...

Q: Using Excel spreadsheet / worksheet, determine Anna's profit. Attach excel solution.

A: Operating income refers to the income or gross profit generated by the company from its operations o...

Q: A. Prepare two sets of journal entries using the periodic inventory method and perpetual inventory s...

A: A periodic inventory system states that the inventory would be counted periodically. Whereas, the pe...

Q: JFC Corporation values its inventory by using retail method: 1. How much is the ending inventory at...

A: Retail Inventory Method Retail inventory method which is used to measure the merchandise inventory w...

Q: value of each of the following streams of payments? c. $35 a year for 7 years compounded annually at...

A: Here future value can be calculated as follows =  P x (1+Rn-1)/R  

Q: Angel owned a property costing Php. 2,000,000.00. She exchanged her property with the lot of Princes...

A: Formula: Gain on exchange = Princess  Fair market value of the property - Additional cash - Angel ow...

Q: Concord Inc. is a retailer using a perpetual inventory system. All sales returns from customers resu...

A: As we know that perpetual inventory system is a sustem in which inventory is country continuously an...

Q: Please assist me with the last question

A: Statement of income shows all the income(s) earned by the organization. There are certain ways for c...

Q: Question: Is ASIA PACIFIC engaged in banking? Give your reasons.

A: Banking refers to the business activity of safeguarding as well as accepting the money owned through...

Q: Portions of the financial statements for Clear Transmissions Company are provided below CLEAR TRANSM...

A: Cash flows from operating activities is one of the important section of cash flows statement which s...

Q: Veronica Valentine works as a financial consultant as her sideline which earns her approximately 35,...

A:                             In absence of specific information it is assumed that Valentine belongs ...

Q: Andrea would like to organize SHO as either an LLC (taxed as a sole proprietorship) or a C corporati...

A: Solution Net income before tax = 240000*11% = 26400.

Q: National Co. has the following balance sheet as of December 31, 2022. Current assets P 600,000 Fixed...

A: Additional Needed Fund: AFN is a financial term utilised when a company wants to grow. To put it ano...