BRIEFLY A
Q: Gall Corporation paid dividends of P500,000 and P1,600,000 at the end of 2021 and 2022, respectively...
A: Preference dividend=Number of shares×Par value×12%=50,000×P 100×12%=P 600,000
Q: How can accounting keep up with the rising sales return rates, especially when it comes to inventory...
A: Management of inventories: Inventory management may be characterized as a system for measuring and r...
Q: please quickly i just need answer thanks! 9 When a gain is realized in an exchange between equip...
A: When a gain is realized in an exchange between equipment (Cash is given as a boot), Gain on the exch...
Q: The Vinta Company estimates its factory overhead for the next period at P2,500,000. It is estimated ...
A: Predetermined overhead rate = Estimated overhead cost / Direct material cost
Q: Lilac Company has 200,000 shares of ordinary shares outstanding on January 1, 2021. On March 31, 202...
A: Solution Given Ordinary share outstanding on January 1 2021 200,000 Additional share issue...
Q: What is the straight-line amortization technique for a bond discount or premium?
A: Bond with a straight-line amortization schedule The straight-line amortization technique is a way of...
Q: 1. Journalise all the transactions. 2. Prepare an unadjusted trail balance using the spreads...
A: When assets and expenses increase, they are debited, and when decrease they are credited. When liabi...
Q: On March 20, 2020, Fine Touch Corporation purchased two machines at auction for a combined total cos...
A: Workings: Fair value of Machine X 106,650 Fair value of Machine Y 130,350 Total ...
Q: Q#1 What is Hypothetical Future value? plz watch a enron vedio enron the smartest guy in the roo...
A: Hypothetical Future Value means the worth of future amount of money at specific point in time . If o...
Q: amount to be assigned to the share warrants
A: Share warrants are the options given to the shareholders of a company to buy its ordinary shares at ...
Q: Mike Gioulis would like to have $22,000 in 3 years to pay off a balloon payment on his business mort...
A: Mike must put money in his account = $ 20,828 EXPLANATION:- Target amount(A) = $ 22,000...
Q: YOO-YOO Company purchased 200 of the 1000 outstanding shares of WEBUL Company's common stock for $71...
A: Fair value method of accounting Under fair value through net income, it measures investment at FV o...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: No. of treasury shares after split = treasury shares x 5/1 = 50000 x 5/1 = 250,000 shares
Q: Cory Company issued 120,000 shares of its P10 par ordinary to Fuzzy Inc. in lieu of a real estate pr...
A: Share Premium account will be credited with the difference between par value of share and issue pric...
Q: On October 31, 2022, ABC Inc. declared a building held as owner-occupied property with an original l...
A: Date Accounts Debit Credit October 31, 2022 Retained earnings P900,000 Property divid...
Q: Abeer is a financial manager of a company contemplating two projects and its initial investment for ...
A: Payback period is the period (in number of years) in which the initial investment in a project will ...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio ...
Q: Activity #5: Classify The following transactions pertain to the operations of Happy Events, an event...
A: Cash Flow Statement includes: Cash flow from operating activities Cash flow from Investing activiti...
Q: would protect you against the hazards listed below? To hide the theft of further cash payments from ...
A: Internal Controls Internal control refers to all of management's policies and processes for achievi...
Q: The marketing department of Jessi Corporation has submitted the following sales forecast for the upc...
A: 1a) JESSI CORPORATION ...
Q: Gall Corporation paid dividends of P500,000 and P1,600,000 at the end of 2021 and 2022, respectively...
A: Calculation of dividend payble to preference shareholders >> (50,000 *100*12%) = 600,000 But ...
Q: Assume the following information for a company that produced 10,000 units and sold 9,000 units durin...
A: Fixed manufacturing overhead absorption rate = Fixed manufacturing overheadNumber of units produced ...
Q: what are some general management accounting issues?
A: Accounting is the language of business. It the art of recording the business transactions and presen...
Q: How much unearned revenue would be recorded in 2017 related to the above transactions? A. $30...
A: Answer are as follows
Q: 19. On January 5, 2020, Alpha Company acquired 100% of the shares of Beta Company for an amount whic...
A: Purchase Consideration = P300,000 + Book value of interest acquired ( book value of net identifiable...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio ...
Q: What would be the impact on the targeted overhead rate if the firm decides to boost marketing expens...
A: Introduction: Absorption costing, sometimes known as full costing, is a method of calculating produc...
Q: Lilac Company has 200,000 shares of ordinary shares outstanding on January 1, 2021. On March 31, 202...
A: Solution Given Ordinary share outstanding on January 1 2021 200,000 Additional share issue...
Q: Liquidity Status Current Ratios Quick Asset Ratios Efficiency Status Asset Tur...
A: 1. Current ratio = Current assets/ Current liabilities 2. Quick ratio = (Current assets - Inventory ...
Q: Assume that your company purchases inventories from a supplier on December 15. The invoice specifies...
A: Accounts payable 15th December=10,000 Euros×$1.35=$13,500
Q: 4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО d...
A: 4. Using the four-variance approach, the volume variance is Volume Variance = Bu...
Q: On December 31, 2024, Denis and Gamber agree to combine their sole proprietorships into a partnershi...
A: A journal entry is a record of a commercial transaction in organization's accounting system. When a...
Q: The following events took place for Sorensen Manufacturing Company during January, the first month o...
A: Format:- Income statement Sales Less:- Cost of goods sold Gross profit Selling and admi...
Q: The XL Co. issued 5,000 shares of P50 par preference shares 1,000 detachable warrants at P400,000. T...
A: Solution Concept The detachable warrant can be valued separately . If the fair market ...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: No. of treasury shares after split = treasury shares x 5/1 = 50000 x 5/1 = 250,000 shares
Q: All the listed benefits paid by an employer are required to be included in an employee's income for ...
A: Taxable benefits: These includes all the benefits that are received by an employee from his employer...
Q: In a make or buy decision, the relevant costs include variable manufacturing costs as well as A. De...
A: The only costs that are relevant in a make or buy decision are those which are affected by the decis...
Q: At 1 January 2020, the revaluation surplus of Bloxden was P1,257,000. This was in respect of the com...
A: Formula: Revaluation surplus at 31 December 2020 = Beginning Revaluation surplus + Additional incre...
Q: The O'Hara, Peters, and Lillis partnership balance sheet reports capital of $60,000 for O'Hara, $110...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: Cherokee Company began operations when it issued common stock for $96,500 cash. It paid contract to ...
A: Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts...
Q: Mr. Tuck and Ms. Under organized a new business as an LLC in which they own equal interests. The new...
A: The question is related to taxation. Since there is a loss of $7200 and the tax rate applicable to M...
Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market pric...
A: No. of treasury shares after split = treasury shares x 5/1 = 50000 x 5/1 = 250,000 shares
Q: Is there any financial or operational data that appears on both the income statement and the retaine...
A: Profit and loss statement: To generate an income statement for a period, costs are debited, and reve...
Q: When is the filing deadline for an individual taxpayer who has no partnership or sole proprietor bus...
A: When is the filing deadline for an individual taxpayer who has no partnership ...
Q: On August 1, 2021, Comical Company issued rights to stockholders to subscribe to additional share of...
A: SOLUTION- THE COMPANY HAS ISSUED A 1:5 RIGHT ISSUE TO SHAREHOLDERS FOR P25.
Q: Which of the following statements is not true? * O JIT manufacturing uses manufacturing cells. O JIT...
A: Just in time manufacturing :- It is methodology which involves producing the necessary goods in nece...
Q: SmaGlo, Inc., a telecommunications operator, entered into a contract with Kim Dorothy on March 1,20x...
A: The transaction price is the consideration paid by the customer for receiving a good or service. Kim...
Q: true or false The going-concern assumption means that the business owner and the company are separa...
A: Going-concern assumption is that business will remain in operation for the foreseeable future .
Q: The Resty Company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty identif...
A:
Q: Is the cost of sales under weighted average always greater than the cost of sales in FIFO?
A: as FIFO method of inventory valuation goods purchased first will be used first or sold first. The Fi...
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- BRIEFLY ASSESS HOW TAXATION CAN BE USED TO CONTROL: a. BALANCE OF PAYMENT, b. SAVING, c. INFLATION, d. INVESTMENT.Explore and Discuss the challenges of understanding and reporting taxes and cash flowsUnder the principle of cashflow estimation, why it is important that cashflow should be measured on after-tax basis?
- Classify Revenue or capital expenditure?How to calculate revenue?Which of the following task is facilitated by Taxation Accounting? a. Tax preparation and tax planning b. Fix the price of the product c. Helps in decision making and controlling activities using budgeting, marginal costing etc. d. Preparing financial statements
- What is the relationship between Income Measurement and Asset Valuation?What is an arms-length transaction? What is its significance to income taxation?how to decide and choose between investments if capital is rationed? Assess the timing effect of taxation liabilities upon investment appraisal decisions.