Compute for the following: 1. Amount from cash collected from accounts receivable during 2021. 2. Cash payment on accounts payable during 2021.
Q: You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500…
A: Schedule of Cash collection First month Second month Hours worked 170 340 Rate per hour $17…
Q: Sudoku Company issues 26,000 shares of $7 par value common stock in exchange for land and a…
A: A company may receive cash or any other thing in exchange of equity shares issue.
Q: acques is an alien assigned in the Philippines to manage the regional area headquarters of Deli…
A:
Q: Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following…
A: A Bank Reconciliation Statement is a report or statement prepared by a business to match the banking…
Q: Prepare a comparative balance sheet and discuss the operational performance of the Bank.
A: Comparative Balance sheet helps investors, shareholders and other users of balance sheet to…
Q: Design a salary slip for the month of December 2021 with information given below.
A: Salary slip which is also known and called as pay slip. It is the slip in which all the incomes and…
Q: Chang Industries has already spent $230,000 to produce tables. Those tables can be sold as is for…
A: Chang should adopt thag option which is the best alternative for it.To find is there any incremental…
Q: April Ltd. is located in Alberta, a province which does not participate in the HST program and has…
A: Input tax credit refers to the GST paid on purchases and it being eligible for tax deduction. It…
Q: Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near…
A: ANSWER For example, electricity costs should be $1,100 per month plus $0.09 per car washed. The…
Q: Kaloy invested in the bonds of AAA Company in the United States. The bonds were issued at a price of…
A: Documentary stamp tax duty that DST is applicable on sale and purchase of bonds in market in…
Q: dvances in cardiovascular surgery, lly to hospitals based on Europe and Indian Rupees (INR) as of…
A: Current Rate Method and Temporal rate method: It is the standard method of currency translation…
Q: Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March,…
A: Ledger accounts are posted transactions which are balanced by including all effects and are then…
Q: Documentation of risk assessment procedures and responses to risks of misstatement should include…
A: Risk assessment procedures are audit procedures performed to obtain an understanding of the client…
Q: 17. As a newly hired IRS trainee, you have been asked to calculate the amount of tax refund or tax…
A: Tax owed/ (refund) = Tax liability- tax credit - payment
Q: Submit a picture that is related to your field, Accountancy. Give three mathematical terms…
A: Answer:- Picture related to Accountancy:-
Q: ipany rep0I end, the company had 350,000 weighted-average shares of common stock. 1. What amount of…
A: There are two type of stockholder-preferred and common. When we calculate EPS ,we deduct preferred…
Q: producedi productic
A: Calculation for net income under full costing: Particulars 2019 ($) 2020 ($) 2021($) Sales…
Q: Carns Company Is considering eliminating Its Small Tools Division, which reported a loss for the…
A: Avoidable fixed costs are relevant fixed costs because they wont be incurred in case of no…
Q: Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Price 85 8 Price 75+ 26 7- 24 65- 22 Social Cost 6+ 20 55 18 Supply 16 45 14 Private Cost 4 - 12 35…
A: External Cost = Social Cost - Private Cost = 5 - 3.5 = 1.5 ( As per First Graph) External…
Q: Davis Company currently buys a component part for $8.00 per unit. Davis estimates that making the…
A: $3.50 of overhead cost is relevant because only this cost is increasing if making the product.…
Q: Depreciation continues to be one of the most controversial, difficult, and important problemareas in…
A: Depreciation is the purposeful, gradual reduction in the reported value of an item over its useful…
Q: Here are the abbreviated financial statements for Planners Peanuts: Incone Statenent, 2019 $3,980…
A: The increase in sales revenue would increase the net income for the business during current period.
Q: d plant labor costs and X equals dollars of production output. If the company plans to produce…
A: The total cost of production of a good comprises the total fixed cost of production and the total…
Q: $19,00O. This project would result In adoditional annual revenues of $6,000 for the next 5 years.…
A: Incremental Cost An incremental cost or differential cost is a business planning analysis that looks…
Q: Quinn, Mellissa, and Harper are liquidating their partnership. They have no agreement for sharing…
A: Journal entry - It refers to the process where the business transactions are recorded in the books…
Q: Materials costs of $1,200,000 and conversion costs of $1,530,000 were charged to a processing…
A: Process costing is used when similar products are produced by going through the same processes at a…
Q: Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory…
A: The inventory can be valued using various methods as FIFO, LIFO and weighted average method. Using…
Q: Georgetown Company's weekly store operating costs for a 10-week period totaled $320,000 for the…
A: High Low method is the way in which fixed and variable costs are separated by using the formula…
Q: Krall Company recently had a computer malfunction and lost a portion of its accounting records. The…
A: The question is based on the concept of Financial Ratios. Return on Investment = Net operating…
Q: Beatty Solutions is determining the ending cash and cash equivalents for the December 31, 2020…
A: Cash and cash equivalents states the balance sheet line items that records the company assets value…
Q: How much gain or loss does Viggo recognize on the contribution?
A: A partner is the person who has the share in the partnership business that share represents the…
Q: You are an Australian resident who graduated with honours from univ- obtained a nice job, and now…
A: Calculation of asked figure which related with Home Loan Needs to Analyze the figure and prepare…
Q: $800 $1,500 $700 $0
A: Basic Concept of Direct and indirect tax
Q: ut. Annual rate is $4 uced. Bud pry overhe
A: In other words, it is a measure of how much money you will make and spend in a given time, such as…
Q: Below are the unadjusted account balances for Gotham Corp as of December 31, 2021 Unadjusted Account…
A: In this question, we are required to prepare the statement of financial position as of December 31,…
Q: onstruction company budgeted P250,000 per year to pay for the cost of maintenance and repair of…
A: The cost decreases by the constant uniform gradient and This cost should be equivalent to the…
Q: Sammy Company is considering eliminating Its Commercial division. The company allocates fixed costs…
A: Loss of contribution margin = $44,200 Fixed cost saved = $101,000
Q: Smith and Jones create SJ Corporation. Smith contributes property with a fair market value of…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: %24 %24 %24 %24 Providing for Doubtful Accounts At the end of the current year, the accounts…
A: Allowance for doubtful account is maintained when it is expected that some account receivable will…
Q: Rita owns a sole proprietorship in which she works as a management consultant. She maintains an…
A: The operating expenses include the salary of employees, insurance exp.,travel exp.,office exp.…
Q: Brief Exercise 23.4 (Static) Estimating Direct Materials Inventory (LO23-4) On January 1, Howard…
A: The purchase budget is prepared to estimate the number of units to be purchased during the period.
Q: A family friend has asked your help in analyzing the operations of three anonymous companies…
A: Financial ratios are used to check different aspects of a company - liquidity, solvency, etc. They…
Q: Curly Inc. is considering whether to continue to make a component or to buy it from an outside…
A: This question relates to the concept of Make or Buy Decision. In this concept we analyze the Actual…
Q: The condensed product-line income statement for Dish N' Dat Company for the month of May is as…
A: Variable Cost of goods sold = $20600 ×(1-0.15) = $17510 Variable selling and admin expenses =…
Q: Domingo Dominico, a Filipino residing in Marikina City, made the following donations in favor of his…
A: Answer:- Donation tax definition:- Donation is something given to a charity to someone. When…
Q: For each of the following items, indicate if it is a Capital Expenditures (CE) or Revenue…
A: There are two type of expenditures being made in business. One is capital expenditure and other is…
Q: ged in a VAT-business and a non-VAT business. Her records show the following data, no tax included,…
A: Value Added Tax Value added Tax is the tax system which was imposed by the government authority to…
Q: ABC company issued a 5 year $200,000 bond. The bond has a stated rate of 6% and the market rate of…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Direct labor rate $ 150 per DLH S 120 per DLH 28 of direct materie Non-materials-related overhead…
A: The question is based on the concept of Cost Accounting.
Step by step
Solved in 2 steps
- LiabilitiesOMRAssetsOMRShare capital400,000Land and building280,000Net profit60,000Plant and machinery700,000General reserve80,000Stock400,000Debentures840,000Debtors200,000Creditors200,000Bills receivables20,000Bills payable100,000Cash80,000Total1,680,000Total1,680,000 1>calculate total current liabilites 2>calculate total Current assets- What amount should be reported as loss from investment in 2024? A. P320,000 B. P800,000 C. P200,000 D. P120,000Perform a vertical analysis on the following information. 2021 2020Cash $ 420,000 $ 1,050,000Accounts receivable 660,000 300,000Inventory 1,020,000 925,000Long-term assets 3,900,000 2,725,000Total assets $ 6,000,000 $ 5,000,000
- 2020 2019 Net profit for the year 1200 1100 Depreciation for the financial year 80 70 Accumulated depreciation 400 320 Fixed asset impairment reversal gains 50 20 Profits for the sale of fixed assets 100 50 Based on the above information, the cash flow of 2020 before changes in working capital accounts is?2021 2020 Value of fixed assets 2200 1800 accumulated depreciation 800 600 Revaluation differences 300 200 REVALUATION AMOUNT INCREASE IN VALUE (GROSS BEFORE DEPRECIATION) OF FIXED ASSETS 150 0 how much is the depreciation of 2021From the following forecast the Balance sheet for the year 2021Balance sheet as of 31/12/2020Liabilities& Equity AmountAssetsAmountEquity33,000 Plant and machinery 10,000Retained earnings 10,000 Land Property20.000Accounts payable 7,000 Accounts receivables 3.000Inventories10.000Cash in hand2000Cash at Bank5.00050,00050,0001. It is expected that the company will make a net income of10% of forecasted sales2. The company will purchase additional 5000 OMR worthmachines by taking an additional loan of 5000 OMR3. Forecasted sales OMR 100,0004. Dividend payout will be 50%5. The following estimates are also given;Accounts payable 10,000Accounts receivable 6,000Inventories 15,000Cash in hand 6.000Cash at bank 1,000
- 1. How much is the net share in the profit or loss of the associate (investment income) in 2021? P480,000 P825,000 P420,000 P135,000 2. How much is the carrying amount of the investment as of December 31, 2021? P7,815,000 P8,025,000 P7,680,000 P7,125,000ASSET 2022 2021 CASH 260,000 200,000 TRADE RECEIVABLE 400,000 300,000 INVENTORIES 360,000 400,000 LAND 3,000,000 2,000,000 BUILDING 3,000,000 3,000,000 EQUIPMENT 80,000 150,000 ACCUMULATED DEPRECIATION -EQUIPMENT (30,000) (70,000) TOTAL 7,070,000 5,980,000 LIABILITIES & EQUITY TRADE PAYABLE 240,000 200,000 BOND PAYABLE 1,200,000 2,000,000 COMMON SHARES 2,400,000 1,200,000 RETAINED EARNING 3,230,000 2,580,000 TOTAL 7,070,000 5,980,000 ADDITIONAL INFORMATION PROFIT FOR 2022…2020 2019 2018 $,000 $,000 $,000 EBIT -741,819 734,312 1,038,864 Depreciation 606,975 485,625 467,050 Tax 129,735 196,548 208,948 Operating Cash Flow -264,579 1,023,389 1,296,966 New fixed assets 14,836,508 14,884,523 14,986,813 Old fixed assets 14,884,523 14,986,813 14,236,644 Depreciation 606,975 485,625 467,050 Net Capital Spending 558,960 383,335 1,217,219 New current assets 10,347,686 6,922,405 6,504,962 Old current assets 6,922,405 6,504,962 7,898,431 New current liability 4,964,164 2,913,926 3,120,099 Old current liabilaty 2,913,926 3,120,099 3,485,129 Change in Net Working Capital 1,375,043 623,616 -1,028,439 Cash Flow From Assets -2,198,582 16,438 1,108,186 Briefly comment the free cash flow of this company
- Data Review View Acrob Page Layout P19 F G D A Using the information provided in the following table, find the value of each asset. Cash Flow End of Amount Asset Year (Php) Appropriate Required Return (%) A 250,000 18 250,000 250,000 15,000 15 0 16 0 0 1,750,000 75,000 12 425,000 100,000 14 150,000 250,000 350,000 200,000 50.000 File dy B C F Home O 1 through 1 2 3 14 5 1 through 5 6 E 1 2 3 4 5 6 Solution and Answer: 123 Insert Shot on OnePlus Powered by Triple Camera Num Ette FormulasThe following are a project's cash flows. What is the projects year - 110155450 cash flows - 9.70% 5. 14.660%. 8.64% 10.78% . =. 16.94% IBR? $450 $40 3 84905 What's the forecasted capital expenditure based on the information below? -Net PP&E beginning of period = 4200-Net PP&E end of period = 6800-Depreciation expenses = 900 a. 5900b. 1700c. 3500d. 2600