Responds with a face value of $201,000 are issued at par the amount of cash proceeds is______ A) $201,000 B) $211,050 C) $200,895 D) $221,100
Q: 139. On January 1st, 20x12, ABC Inc. agrees to a futures contract to buy 1,000 shares of DEF Inc.…
A: Accounting for Derivative Instrument Future is a derivative which is contract and value which is…
Q: Amber Company produces iron table and chair sets. During October, Amber's costs were as follows:…
A: Solution... 1. Total cost of purchase = Actual quantity purchased * actual rate per pound =…
Q: Kleen Company acquired patent rights on January 10 of Year 1 for $360,000. The patent has a useful…
A: Amortization of the Patent: Amortization of the Patent is the tactic in which the cost of the patent…
Q: The Shatontola Co. Ltd is a single-product manufacturing company, which uses a marginal costing…
A: Marginal costing is the method of accounting where the profit for the period is determined by…
Q: Last year your construction company had operating revenues of $1,240,000, operating costs of…
A: Taxable income refers to the gross income after deducting all the expenses incurred by an…
Q: Martha Inc. had 20,000 units of ending inventory that were recorded at the cost of five dollars per…
A: VALUATION OF INVENTORY AS - 2 help in Computation of Cost of inventory/Stock to determine the Value…
Q: question 1 ABC Company borrowed $100,000 on January 1, 20X1. Interest is 5% payable each December…
A: Solution.. Amount = $100,000 Interest expense= 5% Time period = 1 year Interest expense = ?
Q: In total how much did it cost the company to buy back its own shares of stock how much did the…
A: The treasury stock includes the own shares of the company that are purchased from the shareholders…
Q: a. Assuming a perpetual inventory system, prepare journal entries for 2020, 2021, 2022 to record the…
A: a. Journal entries for reduction of inventory to market value using loss-allowance method :
Q: how can i do jeneral journal for this with 10% GST
A: JOURNAL ENTRIES FOR DA ONE 26.Nov Toys R Uz.....Dr. $39,600 To Ranger's…
Q: Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of…
A: Variable overhead rate variance: Variable Overhead Rate Variance is the difference between what the…
Q: Jellison Company had the following operating data for its first two years of operations: Variable…
A: Absorption costing: Absorption costing is also called traditional costing. This method of costing…
Q: Assuming the company uses FIFO, record the adjusting journal entry needed at the end of October to…
A: The cost of sold on FIFO basis given to be $258,100. The total purchase cost comes out to be…
Q: The Mulenga & Co. Ltd is a single-product manufacturing company, which uses a marginal costing…
A: Marginal costing It is the cost to produce one additional unit of production. This helps determine…
Q: Dorsey Company manufactures three products from a common input in a joint processing operation.…
A: Split off point means where the joint product produced are taken separately and can now be processed…
Q: snel Clinic bases its budgets on the activity measure patient-visits. During February, the clinic…
A: The flexible budget of static budget is prepared to compare the different budgets of production. The…
Q: Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1,…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a…
A: Income Statement :— It is one of the financial statement that shows profitability of company during…
Q: a. Assuming a perpetual inventory system, prepare journal entries for 2020, 2021, 2022 to record the…
A: The perpetual inventory system is one of the methods of accounting that records the purchases or…
Q: A publisher for a promising new novel figures fixed costs (overhead, advances, promotion, copy…
A: Break even is the point at which the entity is in a situation of no profit and no loss. At this…
Q: XYZ Company issues 5000 shares of stock for $30/share. The stock has a par value of $5/share. The…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: E10.23B (LO 3) (Depletion Computations-Minerals) At the beginning of 2025, Allister Com- pany…
A: Solution... Total cost of mine = Purchase price - cost of land + development costs + assets…
Q: Service Department Graphics Production Accounting Personnel Cost $200,000 500,000 400,000 Direct…
A: Under Activity based costing method, the cost of each department is based on the consumption of that…
Q: A bond has a face value of $1,000,000 and matures on 12/31/2050. Which statement is FALSE? O The…
A: The bonds are the financial instruments that are used to raise money from the market or investors.…
Q: BOR CPAs, Inc. is a closely held corporation owned by three stockholders who used the initials of…
A: Please fallow the answer below : The purpose of this paper is to analyze how the company will…
Q: Wreck and Ralph form a new partnership. Wreck invests P500,000 in cash. Ralph contributes land that…
A: Partnership is the firm which is run by two or more partners on the basis of partnership agreement,…
Q: 24. Lense Laboratories' net income was $250,000. Given the account information below, what is the…
A: The correct answer is: (C) $312,000 Net profit for the year $250,000 Less: Increase in accounts…
Q: Jane Binyan is single with one dependent and files as head of household. She is the chief financial…
A: Gross income: Gross income is the sum of all forms of income of the taxpayer before claiming any…
Q: You are thinking about getting a 30 -year $800,000 mortgage loan at 41/8% interest. Find the…
A: Monthly Installment - It includes a portion of principle payment along with Interest. Monthly…
Q: On February 1, 2023, Ivanhoe Contractors agreed to construct a building at a contract price of…
A: TO ASCERTAIN THE CURRENT YEAR'S PROFIT IT IS NECESSARY TO RECOGNIZE THE COST AS WELL AS REVENUE ON…
Q: V5. Assume that Nike decides to build a new warehouse complex at significant cost, financed with…
A: IN REPONCE TO NIKE DESISITION GROSS MARGIN Gross margin offers organisations a useful approach to…
Q: SCC Company reported the following for the current year: Net sales $ 48,000 Cost of goods sold…
A: Inventory turnover ratio :Inventory turnover ratio indicates the demand for the product &…
Q: On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as…
A: Stockholders' equity section records all the stocks issued and the retained earnings of the…
Q: V6. Sean Grey acquired a 30% interest in Beau Grey Productions, LLC several years ago for $48,000.…
A: Answer:- Limited liability partnership meaning:- A limited liability partnership (LLP) is basically…
Q: 19. A company acquires 1,000 shares of its own $1 par common stock for $15 per share. This purchase…
A: The correct answer is: (D) Debit to treasury stock for $15,000 The treasury stock account is a…
Q: 2. Post the journal to a ledger of four-column accounts. 3. Prepare an unadjusted trial balance. 4.…
A: The first step in accounting is a journal entry, which is used to record a business transaction…
Q: ABC Company has 100,000 shares of $10 par value stock issued and outstanding. It declares a 20%…
A: Dividends are paid in two types Stock dividends and Cash dividends. Stock dividend means a payment…
Q: Prepare journal entries for the transactions listed below and post them to the T-accounts. d.…
A: The primary reporting of the business transactions in the books of accounts is referred to as…
Q: Match the following ____ Complexity in business operations a. Management compensation ____ Timely…
A: Notes One side has 5 items and another side has 6 items. So when the match one side doesn't have any…
Q: Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's…
A: Given in the question: FICA Social Security taxes 6.20% FICA Social Security taxes on…
Q: Mifflin Company reported the following for the current year: Net sales $ 60,000 Cost of goods…
A: In this question, we need to compute the following: Accounts Receivable Turnover Days’ Sales…
Q: Cullumber Furniture currently manufactures rocking chairs with the following costs per set of…
A: Variable cost means the cost which vary with the level of output and fixed cost means the cost which…
Q: a. Luis is planning on retiring in 10 years. Luis has a mutual fund that is earning a return of 6%…
A: There are two methods of Interest: One is Simple Interest and second is Compound Interest. Simple…
Q: Using the least aggregate deferral method, what year should the partnership adopt?
A: A least aggregate deferral method is the method which is used by the partnership so that the tax…
Q: Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 89,800…
A: Absorption Costing Method :— In this method, product cost is the sum of direct material, direct…
Q: #2. Chanze Corporation is a full-service technology company. They provide Machineries, installation…
A: Journal entries are created using the double-entry accounting method and have both a credit and a…
Q: A coal mine cost $1,002,000. It is estimated to hold 56,000 tons of coal. There is no residual value…
A: Depletion expense is used for natural resources like mining, oil and gas industries, timber. When…
Q: It's like a professional memo, you have to write in 4 paragraphs The concept of relevant cost in…
A: Relevant cost is a concept used in managerial accounting that refers to the costs that are relevant…
Q: QUESTION 41 In LLCs, all partners must be UAE nationals. ( ) O True False QUESTION 42 Public Joint…
A: A Limited liability company is a company with the limited liability of owners. It includes the…
Q: Prepare a contribution margin income statement for next year that shows the expected results with…
A: Fixed expenses are expenses that are constant and does not change with the change in the number of…
Step by step
Solved in 2 steps
- What is the value on 1/1/16 of the following cash flows? Use a 10% discount rate, and round your answer to the nearest $1.00. Date Cash Received 1/1/18 1/1/19 1/1/20 1/1/21 1/1/22 OA. $1,065 OB. $1,500 OC. $880 OD. $968 Amount of Cash $100 $200 $300 $400 $500Given the following information ZO12345 N 0 Net cash flow 500 0 500 0 500 0 a. Determine the equal cash flow A from 0 to 5 at an interest of 10% b. Determine the equal cash flow (from 1 to 5) when considering at interest of 10%20. Assume that $100 is received at the beginning of year 1, and that $200 is received at the beginning of year 2, and that $300 is received at the beginning of year 3. If these cash flows are deposited at 12 percent, their combined future value at the end of year 3 is ________.of year 3 is ________.A) $1,536B) $ 672C) $ 727D) $1,245
- Convert the following cash flows to a uniform payment series, where n=3 starting at year 3 and i=3%. $1500 $1250 $1250 $1000 $500 $200 $200 3 4 5Total value of Handsome Service for the period is P250,000. All are on cash basis except for the accounts receivable of P50,000 and notes receivable of P20,000. Pertaining to the above, the capital of Handsome is increased by: a. P250,000 b. P200,000 c. P230,000 d. P180,000$500 is received at the beginning of year one, $500 is received at the beginning of year two, and $500 is received at the beginning of year three. If these cash flows are deposited at (1%), their combined future value at the end of year 3 is O a. $1,530 O b. $1,545 O c. $1,500 O d. $515 Clear my choice
- Convert the following cash flows to an equivalent single payment at t=6 when i=7%. $1500 $1250 $1250 $500 $200 2. 3 4 5 6Based on the following cash flows (t=0 to t=5), calculate the Precise(Exact) ERR. Assume the MARR is at 10%. t=0 receipt of $20,000. t=1 disbursement of $15,000. t=2 disbursement of $10,000. t=3 no cash flow t=4 no cash flow t=5 receipt of $2,400. 2.82% 6.78% 9.26% 4.17% 1.43%U. PunUS IOW SIalement Ans: (a) Decrease in WC Rs. 7,000 (b) FFS Rs. 1,08,000; FFO Rs 19. 2073 Set D QNo. 16 Following information are given: Particulars Inventories Debtors General reserve Creditors Cash Year 1 (Rs.) 80,000 2,50,000 20,000 70,000 1,00,000 20,000 Year 2 (Rs. 1,00,000 2,00,000 40,000 1,00,000 1,40,000 25,000 Expenses payable Additional Information: Profit of the year: Rs. 80,000 i. Provision for tax: Rs. 10,000 Required: a. ii. Depreciation on fixed assets: Rs. 20,000 iv. Profit on sales of fixed assets: Rs. 5,000 Schedule of changes in working capital b. Funds from operation Ans: (a) Decrease in WC Rs. 25,000 (b) FFO Rs. 1,05, 20. 2072 Supp Q.No. 16 The following figures are extracted from the two years balance sheet of a company: Year 1 Year 2 Rs. 6,00,000 Rs. 1,50,000 Rs. 5,000 Particulars Share capital Fixed assets Rs. 5,00,000 Rs. 1,00,000 Goodwill Rs. 10,000 Additional Informátion: Net profit: Rs. 75,000 ii. Purchases of fixed assets: Rs. 70,000 Loss on fixed…
- Income tac was $300,409 for the year. Income tac payable was $28,102 and $42,997 at the beginning and end of the year,reapectively. Cash payants for income tac reportés on the statement pc cash flots usine the direct method la a. $ 285,514 b. 315,304 c. 300,409 d. 371,508What is the IRR of the following set of cash flows? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Year 0123 IRR Cash Flow -$17,300 8,000 9,300 7,800 %What is the value on 1/1/95 of the following cash flows? Date Cash Received Amount of Cash 12/31/96 $100 12/31/97 $200 12/31/98 $100 12/31/99 $100 12/31/00 $100 Use a 10% discount rate and round your answer to the nearest $1.