Why is Decpreciaiton a Process of alloacation and not valuation?

Q: DLW Corporation acquired and placed in service the following assets during the year: Asset Computer…

A: The cost of an asset is recovered or depreciated over the estimated useful life (time). This time is…

Q: Buffo Company fabricates metal folding chairs. Data concerning the company's revenue and cost…

A: Manufacturing cost: It includes all the expenses that are incurred by the business in the process of…

Q: French Impressionists is an independent cinema located in Melbourne. The cinema specialises in…

A: AASB (Australian Accounting Standards Board) is an Australian Government Agency which develops and…

Q: 1. Oni Pty Ltd Limited has prepared its June half-year cash budget.  The cash budget shows a healthy…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: The company is considering using a two-stage cost allocation system and wants to assess the effects…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: he Walton Toy Company manufactures a line of dolls and a sewing kit. Demand for the company’s…

A: Total direct labor hours required = Direct labor hours per unit * Demand of product Total…

Q: 2. CDE Corporation recorded the following transactions for the just completed month. $10,000 in raw…

A: Lets understand the basics. Material is having two types which are, (1) Direct material (2) Indirect…

Q: Exercise 9-15 Alternative depreciation methods-partial year's depreciation LO3 On April 1, 2023, Ice…

A: Fixed assets refers to the assets that provides a benefit to the company for the period extending 1…

Q: On pension worksheets, not all columns have general ledger accounts associated with them. Which…

A: Pension Worksheet The pension worksheet includes information on pension costs, cash contributions to…

Q: Notes Payables - (Short Term) Notes Payables - (Long Term) Common Stock Retained Earnings Additional…

A: Acquirer is the company which purchased the equity stock of the other company and it is also written…

Q: Paola Farms, Inc. produces a crop of chickens at a total cost of $66,000. The production generates…

A: To answer this question two scenarios has to be considered.First when chicken is sold to a…

Q: Determine the objectives of the test. You are auditing both quantities and pricing of the final…

A: Proper auditing ensures that the financial statements of any venture are in accordance with the set…

Q: Broadway Limited (“Broadway”) purchased a piece of equipment on 1 February 2022 and had it fully…

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

Q: You have been approached by Dumbledore Ltd.'s main competitor, Voldemort Ltd., to assess the…

A: The financial ratio is the relationship between two or more elements of the financial statement.…

Q: h-capacity machine has cash expenses of $10,000 per month, while the alternative has cash expenses…

A: At accounting operating profit break-even point , the total cost under both the options are the…

Q: arell is a member of Sierra Vista LLC. Although Sierra Vista is involved in a number of different…

A: Sole Proprietorship: A sole proprietorship, also known as a tradership, entrepreneurship. it is a…

Q: Millennium Associates records bad debt using the allowance, income statement method. They recorded…

A: Allowance for doubtful accounts - Allowance for doubtful accounts is the provision made by the…

Q: Malfoy Ltd sold a motor vehicle on 30 September 2014. The proceeds from sale were $21,000 cash. The…

A: Answer:-  Depreciation meaning:- Due to usage, deterioration, or obsolescence, an asset's monetary…

Q: Find the markup rate based on selling price if the percent markup based on the cost is 14%.

A: Mark up means the gross profit margin earned on the basis of selling price or cost price. Markup on…

Q: Record the general journal entry required for the disposal of the equipment on 1 July 2024 if…

A: Straight line method of depreciation is one of the popular method of charging depreciation under…

Q: On April 30th, 2018, a machine was purchased for $160,000 cash. The machine is expected to produce…

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

Q: corporated reports the following amounts in its December 31, 2024, income statement. Income tax…

A: Multi step income statement shows operating and non operating income .It differentiates among income…

Q: Below is Monday Company's adjusted trial balance for the year ended December 31, 2021: Credit…

A: Current assets are short term assets because their life is less than 12 months of period. Examples…

Q: HOW DO YOU GET THE REMAING TOTAL BALANCE OF INVENTORY COST?

A: The question deals with inventory valuation at LIFO method.  LIFO means Last in First out.  In this…

Q: PGL Corporation has a credit sale of $ 240,000 in 2018. The company estimates that 9 % of its credit…

A: Bad debts expense: Bad debts expense is recognized in the books of the company when a debtor is…

Q: a. Determine the firm’s fixed costs that are expected next year. b. Calculate the firm’s break-even…

A: - Calculation of Contribution Margin : a) Sales per unit : P 200 b) Sales in unit : ( Total sales /…

Q: stock, ons and round y

A: Answer :Present value of share = (Future dividend / (1+Interest rate)^Number of years) Each year…

Q: The following information is available for Coulibaly Company: Total sales Total assets: Beginning of…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: Discuss why companies are now abandoning the traditional costing method and embarking on the…

A: Activity Based Costing (ABC) is an accounting method that allows businesses to more accurately…

Q: Identify and explain two advantages of marginal costing over absorption costing

A: Costing is an approach that an entity applies to appropriately note the expenses paid during…

Q: tecord journal entries for the following transactions of Piano Wholesalers. an. 1, 2018 Dec. 31,…

A: Journal entries A journal entry is the recording of a transactions into a journal like the general…

Q: Organic Grounds produces two brands of coffee: Star and Bucks’ The two coffees are produced in one…

A: Introduction:- Calculation of Total conversion cost as follows:- =Direct labor + Indirect material +…

Q: uary 1, 2020, McIlroy, Inc., acquired a 60 percent interest in the common stock of Stinson, Inc.,…

A: Investment - The goal of investing is to make money from the asset that is being put up for…

Q: Dairy Delites had the following projected and incurred the following production and cost data shown…

A: Variable-MOH Efficiency Variance - This variance indicates the difference between the actual time it…

Q: A condensed income statement by product line for Master Energy Co. indicated the following for the…

A: One of a company's primary financial statements, the Income Statement, displays profit and loss for…

Q: The following information relates to the cash position of Ana’s Hair Salon, owned and operated by…

A: Bank reconciliation is prepared with the purpose of finding out the reasons for non reconciliation…

Q: QUESTION 1  “Costing systems attempt to explain how products consume resources but do not indicate…

A: There are various costing systems adopted as per the need of the entity. The basic idea of any…

Q: If an income statement is prepared as an internal report, under which of the following methods would…

A: The income statement is the financial statement of the business. It tells about the profitability of…

Q: Question 3 The type of intangible assets in which the right granted by a company or the government…

A: Intangible Assets Any economic or non-financial item that cannot be physically touched is considered…

Q: Using the lower of cost or market, what should the total inventory value be for the following items:…

A: Note: Under the Lower of Cost or Market method, inventory is valued at the lower the cost of the…

Q: Carmen Company sells jar candles. The sales forecast (units) for the coming months is: April May…

A: Budgeting is the process of estimating one's expenses and revenues for a certain time frame. It aids…

Q: The income statement for Bradford Machine Company for 2019 appears below. BRADFORD MACHINE COMPANY…

A: Break even point is the one at which the company do not earn any revenue. It could just cover its…

Q: . List three types of records that a company must keep for tax purposes.   2. Explain why the ATO…

A: The business entity must maintain a number of records for tax purposes that can be used to calculate…

Q: REQUIRED Record the adjustment journal entry in respect of rent income in the books of NT Stores as…

A:

Q: Payroll Taxes Champaign Inc., a company that provides educational consulting services to large…

A: A payroll tax is a percentage withheld from an employee's salary and paid to a government to fund…

Q: a. Use the high-low method to estimate the fixed and variable components of admitting costs. b.…

A: Introduction: - High-low method is one of the techniques that is used to separate fixed and…

Q: Which of the following is an example of nonrecourse debt? (a) A personal loan secured by collateral…

A: A nonrecourse debt is where the borrower is liable only till its collateral, i.e the lender can only…

Q: VLC Ltd is a listed company. I

A: SARS i.e South African Rvenue Service is the tax authority of South Africa and as per the…

Q: Explain the key aspects of the ‘cost basis’ and ‘revaluation basis’ for non-current assets, and…

A: Revaluation model A company has the choice to carry a plant and equipment at its appraised value…

Q: a) Find the original selling price of each pair of sneakers. b) Find the total of the selling prices…

A: Bata stores manager has bought 2 dozen Nike Air Max sneakers , which he has sold at reducing selling…