What is the manager’s role in a responsibility center? What is the manager s role in a responsibility center

Q: The following was the trial balance extract from ABC Trading as at 31 March   Particulars DEB...

A: Profit and Loss Account: A profit and loss account is a financial statement showing a business’s rev...

Q: explain in details financial management cycle

A: The financial management cycle represents the cycle for the management of the finance of the company...

Q: Consider the following three bond quotes: a Treasury bond quoted at 105:23, a corporate bond quoted ...

A: Solution: Introduction: Treasury bond is a T bond which are marketable, fixed rate bonds of U.S. gov...

Q: The trial balance of Irene’s Laundry on June 30 is shown below:   IRENE’S COIN LAUNDRY Trial Balance...

A: Income statement:Income statement is the financial statement of the company that reports revenue and...

Q: A company has already incurred $5,000 of costs in producing 6,000 units of Product XY. Product XY ca...

A: Given: Current selling price = $15 Further processing cost = $8 Selling price after further processi...

Q: Refer to Samsung’s financial statements. Compute its cost of goods available for sale for the year e...

A: It refers to the value of inventory which is available with a business for the selling purpose in a ...

Q: 1. The financial year of Shah Enterprise ended on 31 December 2019. Show the ledger account for the ...

A: Ledger account: It is used to record the business transactions that were made during a financial yea...

Q: On 01/01/2016,Helen Company entered into a non-cancelable lease contract, with Slig Corp. for an equ...

A: As per Ind AS 116, Helen Company would first calculate the lease liability as to the present value o...

Q: If a company initially records prepaid expenses with debits to expense accounts, what type of accoun...

A: Prepaid Expenses is those expenses which are paid in advance for future period.

Q: Required: i. Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year end...

A: Financial statements are the one that shows all the information related to the companies financials,...

Q: Prepare the worksheet for preparing a consolidated statement of financial position on the date of ac...

A: Consolidated statement of financial statement is used to show the financial position of the parent c...

Q: In each blank next to the following terms, place the identifying letter of its best description.

A: Here, we have to place the letter according to the definition

Q: A manufacturing company has purchased three assets:                                  The truck was d...

A: a) The book depreciation for each asset for the first two years is calculated in next step-

Q: Luthan Company uses a plantwide predetermined overhead rate of $23.90 per direct labor-hour. This pr...

A: Given information is: Predetermined Overhead rate = $23.90 per hour Actual labour hours = 10500  

Q: Show the balance sheet presentationof the investments at December 31,2019.At this date,Ramey Associa...

A: In the above question we have asked to show investment presentation in Balance sheet as on 31 Decemb...

Q: Knowledge Check 01 Which of the following describes how working capital is computed? Multiple Choice...

A: Working Capital is the operating liquidity of the company which is available to business or entity. ...

Q: The financial year of Shah Enterprise ended on 31 December 2019. Show the ledgeraccount for the foll...

A: Ledger account: It is used to record the business transactions that were made during a financial yea...

Q: Please help me with this problem. Thanks!

A: Deviation is the sort of analysis that helps in the identification of the amount of variation betwee...

Q: A company currently pays $5 per unit to buy a key part for a product it manufactures. It can make th...

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to ...

Q: List five factors that may indicate that a client may not remain a going concern. For each, indicate...

A: The concept of the going concern is the underlying assumption in the financial statements preparatio...

Q: A manufacturer is planning to produce 135,000 units of a product which are warranted for 12 months i...

A: The warranty expense refers to the cost expected to be incurred for repair or replacement after sale...

Q: What is future Value of present sum

A: Future value is the value of what a certain asset/cash/instrument will be worth at a future specifie...

Q: Sanjay has 100 euros to spend before he flies back to the United States. He wishes to purchase jewel...

A: The cost jewellery = 100euros + $40 Ifhe sells 100 euros, he will get 100 * $1.24 = $124  So, in $ t...

Q: Indicate the financial statement on which each of the following items appears. Use I for income stat...

A: Financial Statement:- These are statements prepared at the end of the financial year to know the com...

Q: The revenue recognition model promises to provide a coherent and consistent revenue recognition fram...

A: Given statement is: The revenue recognition model promises to provide a coherent and consistent reve...

Q: "1.What is revenue? 2.What are expenses? 3.How is net income determined?  4.How does net income affe...

A: As posted multiple independent questions we are answering only first three questions kindly repost t...

Q: Discuss how the key differences between balance sheet accounts and income statement accounts affect ...

A: Substantive procedures are the procedures designed for detection of mis-statements at the assertion ...

Q: Which of the following would be included in the journal entry to record the payment of accrued sales...

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