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Q: Which of the following material issue pricin method considers the prices as well as the quantities o...
A: Solution: "Weighted average method" considers the prices as well as the quantities of materials purc...
Q: Plase help me how did 62,500 or 625 shares get? The authorized capital stock o
A: The provisions relating to minimum subscription are available in Section 39 of the Companies Act. Th...
Q: If the contribution margin ratio increases by 10% and all else remains the same, what is the effect ...
A: We know that, fixed cost will remain constant irrespective of the level of production, But the var...
Q: 11 21 To produce 1,000 units of the product, the standard prime costs are as follows : Direct labor ...
A: The variances are computed by comparing the actual performance with standard performance. In case of...
Q: Fairyland Company purchased dairy cattle at an auction for ₱300,000 on July 1, 2014. Cost of transpo...
A: Biological assets are those assets or any living plant and animal which is owned through the busines...
Q: Conservatism
A: Correct Answer :- D Conservatism
Q: or the following individua employment Single status NO TE: For simplicity, all clculations throughou...
A: Self Employment Taxes Calculation of self employment tax is taken up both social security taxes and ...
Q: Purchase at time 0 of a piece of widget processing equipment for The equipment is assumed to have a ...
A: Depreciation is an accounting method for allocating the cost of a physical or cost of a tangible ove...
Q: In a sale and leaseback transaction, what is used by the buyer-lessor to depreciate the cost of the ...
A: In a sale and leaseback transaction, what is used by the buyer-lessor to depreciate the cost of the ...
Q: general administrative, expenses selling expenses, and other expenses
A: Expenses are classified according to their nature while preparing the income statement for a particu...
Q: 11 21 To produce 1,000 units of the product, the standard prime costs are as follows : Direct labor ...
A: The variance arises when actual performance is compared with standard performance. In case of multip...
Q: QUESTION FOUR The following balances appeared in the general ledger of Umzinto Traders on 01 March ...
A: SOLUTION- WORKING NOTE- 1-CALCULATION OF DEPRECIATION FOR THE YEAR ON VEHICLES- =(COST - ACCUMUL...
Q: Bonds, may sell at par, at premium or at a discount. When do they sell
A: Premium represents the value more than the par value whereas, discount represents the value lower th...
Q: Business Opportunity #3, Sell or Process Further: After more discussions with Mr. Moon Dog of Moon ...
A: Solution Given undecorated cake Selling price $180 Direct material and direct labor ...
Q: Current tax liability
A: Correct Answer :- A Current tax liability.
Q: AN ASSET FOR DRILLING WAS PURCHASED AND PLACE IN SERVICE BY A PETROLEUM PRODUCTION COMPANY. ITS INI...
A: SOLUTION- DEPRECIATION PER ANNUM = INITIAL INVESTMENT -SALVAGE VALUE / USEFUL LIFE . ...
Q: All indirect expenditure incurred from the time the product is completed until it reaches its destin...
A: Expenses incurred from product completion to destination is called Distribution Overhead....
Q: times interest earned.
A: Times interest earned = Net Income (Loss) before Income Taxes/Interest expense
Q: snhu December 10: Paid November telephone bill. December 11: Purchased baking supplies in amount of ...
A: Date Particulars Debit Dec 8 Cash 4,000 Accounts Receivable 4,000 Dec 10 Accounts Payabl...
Q: Thomas Traders WLL provide you with the following cost items. Analyse the cost description in Column...
A: Cost classification means grouping costs according to their common features. Direct materials are...
Q: The gain/loss related to a sale and leaseback transaction not recognized by the seller-lessee in its...
A: SOLUTION SALE AND LEASE BACK IS A CONTRACT BETWEEN SELLER AND BUYER THE FORMER SELLS AN ASSET TO ...
Q: Sheman Corporation exchanged its common stock, worth P500,000 for all of the net assets of Darna Com...
A: In case one company overtake the assets and liabilities of another company , then accounting for am...
Q: 0. Dirk Ward borrowed $13,000.00 for investment purposes on May 24 on a demand note providing for a ...
A:
Q: Sunland Company had 140 units in beginning inventory at a total cost of $11,200. The company purchas...
A: Cost of goods sold is calculated by adding the opening balance and purchases and subtracting the clo...
Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Emp...
A: Payroll Payroll is an important element in the entity and the management of the payroll system is on...
Q: Accounting Data Appendix 1. The following events occurred in October: October 1: The business owner ...
A: Date General Journal Debit Credit $ $ Oct 1 Cash 25,000 Common Stock 25,000 Oct 1 ...
Q: Nancy Finch has been operating an apartment-locator service as a sole proprietörship. She and Mellss...
A: Solution 1: Journal Entries Event Particulars Debit Credit 1 Cash $3,000.00 Accounts re...
Q: On January 1 2019, Sunrise Company is experiencing extreme financial pressure and is in default in m...
A:
Q: Total Materials Variance Krumple Inc. produces aluminum cans. Production of 15-ounce cans has a sta...
A: Total variance = (Actual quantity*Actual price) - (Standard quantity*Standard price)
Q: Division Y of the same company would like to use the part manufactured by Division X in one of its p...
A: If one of division has ample capacity and the some units are required to be made for other division,...
Q: Victoria Manufacturing Victoria Manufacturing produced 5,250 units in October. The following is th...
A: Material price variance - (standard price - actual price) * Actual quantity Material price varian...
Q: credit history and has a Visa charge card. She received a September 3 statement that shows a balanc...
A: Credit history represents the history of the customer about the credit he has taken in past and paid...
Q: illian Shaw opened Shaw’s Carpet Cleaners on March 1. During March, the following transactions were ...
A: jornalise the transaction as per accounting rules as they open cleaner supplies so it is supplies as...
Q: What is the journal entry of On July 16 Performed $600 of services for customers who paid in advanc...
A: There are three golden rules in accounting for recording the transaction : Debit what comes in , C...
Q: In a sale and leaseback transaction resulting to an operating lease, any gain or loss is recognized ...
A: In a sale and leaseback transaction resulting to an operating lease any gain or loss on sale is reco...
Q: P12.2 (LO 1, 2, 3), AP The accounting team at Soar is considering its options for reporting performa...
A: The absorption costing includes all manufacturing cost whether fixed or variable as inventory cost. ...
Q: What is the amount of income tax payable for 2019? 2. What is the company's financial income subjec...
A: Answer are as follows
Q: When does a buyer-lessor recognize a financial asset from a sale and leaseback transaction? Fair Val...
A: If sale price is greater than the fair value than the ROU asset should be recognised...
Q: Crossfire Company segments its business into two regions—East and West. The company prepared a contr...
A: The question is based on the concept of Cost Accounting.
Q: the answer for a) sholud be either 0,25,75 or 100% b) Yes, because this causes Saturday, Sunday an...
A: a. Justin’s trip is treated as being 100% for business. Weekends and holidays are business d...
Q: The following information was drawn from the accounting records of Woo Company. Current assets $ 73,...
A: Total liabilities = Current liabilities + Long term liabilities = $59000 + 480000 = $539000
Q: 14. Calypso Inc. employs the cost-to-cost method in determining the percentage of completion for rev...
A: Using percentage method, the revenue is recognised on the basis of percentage of the work completed ...
Q: rvice on account $1,700 g. Withdraw $2,000 for personal u
A: (1) Cash A/c Particular Amt Particular Amt To Delores Trevino Capital A/c 7200 By Rent 1500 ...
Q: 27. ________ and operating costing are the same. a. Job costing b. Contract costing c. Process costi...
A: Service costing and operating costing are the same... This is the method of allocating costs to the ...
Q: M 2: A certain organization deciaed to acquire a skte of the art production equipment that will cost...
A: solution given The cost such as shipping charge and installation cost shall be capitalized to the co...
Q: Why is it important for internal auditors to have a fundamental understanding of diverse business pr...
A: Introduction: An internal auditor is a corporate employee whose job is to verify the firm's financia...
Q: Division B has variable manufacturing costs of $59 per unit and fixed costs of $15 per unit. Assumin...
A: Note: If Division has excess capacity, then in case of internal transfer of additional units, it has...
Q: The scenarios below are encountered by Travis Manufacturing Company in its several locations around ...
A: Single plantwide rate: An entity allocates its manufacturing overhead cost to the output produced us...
Q: An organisation manufactures a single product. The total variable cost of making 4,000 units is OMR ...
A: Variable cost per unit = Total variable cost / Units
Q: A monthly income statement for a small consulting company is shown below From these data calculate t...
A: Solution:- Solution:-a Basic information:- Direct labor cost=$120,000 Total payroll during a period=...
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- Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income increases to $41,000, she would pay income taxes of $4,884. What is Melodie's marginal tax rate? 19.75 22.00 18.50 12.00 Some other amountCompute the 2019 tax liability and the marginal and average tax rates for the following taxpayers (use the 2019 Tax Rate Schedules in Appendix A for this purpose): a. Chandler, who files as a single taxpayer, has taxable income of 94,800. b. Lazare, who files as a head of household, has taxable income of 57,050.Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. \table[[Name,Filing Status,Taxable Income,Tax Liability],[Rua,head of household,$195,300,$
- es Chuck, a single taxpayer, earns $77,800 in taxable income and $11,500 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.) Required: a. How much federal tax will he owe? b. What is his average tax rate? c. What is his effective tax rate? d. What is his current marginal tax rate? Complete this question by entering your answers in the tabs below. Required A Required B Federal tax Required C How much federal tax will he owe? Note: Do not round intermediate calculations. Round "Federal tax" to nearest whole dollar amount. $ Required D 12,424-S Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58,000. Tax amount b. A single person with taxable income of $36,200. Tax amount c. Married taxpayers filing jointly with taxable income of $72,600. Tax amountUse the following information and the flow chart from the module to calculate: Adjusted gross income ( AGI) Taxable income Show your work for each calculation to receive full credit. An individual has the following information for the current tax year. Assume they do not itemize and they file as head of household. Income from wages, $80,000 Interest earned on savings, $150 IRA contribution, $5,000 Checking account interest earned, $75 Standard deduction for Head of Household: $20,800 Child and Dependent Care Tax credit, $3,000 Filing status: Head of Household
- 27. Which of the following is a type of regular income tax a. Individual Income tax b. Corporate Income Tax c. Mixed Earner Income Tax O d. Both A and B 28. A taxpayer using GAAP cash - basis on a calendar year shall compute the taxable income using * a. Tax cash basis on a calendar year b. Tax cash basis on a fiscal year c. Tax accrual basis on a calendar year d. Tax accrual basis on a fiscal yearHow are you determining income before income tax answer of $166,000?Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58, 500. b. A single person with taxable income of $ 36,400. c. Married taxpayers filing jointly with taxable income of $72,700.
