Of the following, which is the most ‘Discretionary”?   Accounts Payable   Inventory   Research and Development   Taxes

Q: The Ames Company has exactly $60 in cash. The company buys three pieces of inventory which are all…

A: Answer 1. Units in hand under FIFO method Units in hand = Units at the begining + purchases +…

Q: Kane Candy Company sells candy bars for $1 each. In addition, Kane offers its customers a coffee mug…

A:

Q: This year Diane intends to file a married-joint return. Diane received $179,100 of salary and paid…

A: Modified adjusted income = Salary + Income from Partnership - Moving expenses - Alimony paid =…

Q: A telephone company purchased a microwave radio equipment for P6,000,000. Freight and installation…

A: The concept of the Sinking fund depreciation method is that the value of an asset sinks every year…

Q: A corporation that had 28,000 shares of common stock outstanding declared a 4-for-1 stock split. a.…

A: Common stock is a security that represents ownership in a company. The board of directors is elected…

Q: Rowen Corporation reported the following results for its first three years of operation: 2010 income…

A: Deferred tax liability means the amount of tax that has been incurred but not yet paid,  as it is a…

Q: Marty (62), single, has 2022 taxable income of $510,000. What is Marty's marginal tax rate? 35%.…

A: Given, Marty Taxable income = $510,000.

Q: C3 Nelson Co has a taxation year end of December 31. On January 1, 2022 the UCC of Class 8 was…

A: Assets    An asset is a resource having economic worth that a person, organization, or nation…

Q: Question: 1. What is the correct source documents for credit purchase by business. 2. what is the…

A: Source Documents - Source Document is the document of proof for the transactions takes place.…

Q: A bond you are evaluating has a 10 percent coupon rate (compounded semiannually), a $1,000 face…

A: Bonds are the securities issued by the entity in order to raise finance. These are an obligation on…

Q: Requirement 2. Compute the total costs of the units​ (gallons) (a) completed and transferred out to…

A: Total costs includes the cost of direct materials and conversion costs. Conversion costs are cost of…

Q: Posner Co. is a retail store operating in a state with a 7% retail sales tax. The retailer may keep…

A: calculation of amount of sales tax for the month of may are as follows

Q: Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and…

A: Contribution format income statement help us to understand the contribution margin and the variable…

Q: * Your answer is incorrect. Find the present value of an investment in plant and equipment if it is…

A: Solution Balance sheet is the company's financial statement which shows company's assets ,…

Q: The cost recovery deduction is taken after

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: The owner of the business, Roger Lightfoot, has stated that his objective is to cut back on his tax…

A: There are a number of reasons why it is important to have accurate inventory valuation methods.…

Q: At the beginning of the year, Custom Manufacturing set its predetermined overhead rate using the…

A: 1.Predetermined overhead rate = (Overhead costs/Estimated direct material cost) ×100 =…

Q: An asset was purchased for $70,000 and originally estimated to have a useful life of 10 years with a…

A: Depreciation is a method of accounting that allocates the cost of a tangible or physical object over…

Q: The CORRECT statement concerning partnerships is: O A partnership represents an accounting entity…

A: Partnership is one of the forms of business organizations. It is entity where in two or more persons…

Q: Data concerning a recent period's activity in the Prep Department, the first processing department…

A: Solution: Cost per equivalent unit : Material = $13.86 Conversion = $ 4.43   Materials Conversion…

Q: During your first audit of medium-size manufacturing company, the owner, John Bell, explains that in…

A: The answer for the question on the assignment of responsibilities is discussed hereunder : What are…

Q: How has the accounting system improved or deteriorated over the years?

A: In general, whether a company uses an abacus or a laptop, the basics of accounting remain the same.…

Q: Reasons (Why) corporate executives manipulate financial statements

A: Manipulation of financial statements involve altering the financial records of a company so as to…

Q: Profit-Volume Chart For the coming year, Loudermilk Inc. anticipates fixed costs of $600,000, a unit…

A: Answer a. Maximum Operating Loss will occur when sale is $0. If Sale is $0, then Variable Cost will…

Q: You were just hired as the assistant to the Chief Financial Officer (CFO) of Saddleback Specialty…

A: It is the study of what is morally good or wrong, fair or unjust, that falls within the purview of…

Q: AlMazoon Co has issued 60,000 ordinary shares (equity shares) of OMR 0.600 baisa each and 30,000 6%…

A: Dividend - Dividend is the portion of profit distributed to the Shareholder's of the company. There…

Q: Builder Products, Incorporated, uses the weighted-average method in its process costing system. It…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: 1. These provide narrative description or disaggregation of items disclosed in the  financial…

A: Disclosures are non-financial facts that are shared at the conclusion of a financial statement to…

Q: Return on net operating assets ( RNOA = NOPAT/Average NOA) is commonly used to evaluate a companies…

A: Part 1 - Specific ways to reduce the inventory   1) Company can adopt Just in Time (JIT) Method of…

Q: ACCOUNTING 308 TAX RETURN PROJECT #1 Lance H. and Wanda B. Dean are married and live at 431 Yucca…

A:

Q: List some of the possible groups of financial statement users

A: Financial Statements - Financial Statement includes income Statement, Statement of Retained earnings…

Q: Please help me

A: Journal entries represent the transactions made by the business entity. These transactions are…

Q: Recall that Kate previously obtained a $15,000 bank loan, signing a note payable, on November 30.…

A: Adjustment Journal Entry for Interest Payment An expense for the firm that occurs during a fiscal…

Q: Required: (A) Calculate the raw material & factory supplies used by Shades of the Caribbean. (B)…

A:

Q: Hw.20.   Joe Taxpayer has the following items of income- New York state bond interest- $10,000…

A: Federal Taxable Income The portion of your gross income known as "taxable income" is used to…

Q: Total payroll of Walnut Co. was $2,760,000, of which $480,000 represented amounts paid in excess of…

A: Employers Payroll Tax: Employer payroll taxes are the component of payroll taxes that are the…

Q: a. What are the cash flows for the project in years 0 through 57 b. Plot the NPV profile for this…

A: Given in the question: Initial Investment $899,000 First Year Sales $806,000 Second…

Q: Calculate (A) amount to be credited and (B) balance outstanding Invoice Amount: $3,000 Terms:…

A: Amount to be credited is the total of partial payment and discount.  Balance outstanding is…

Q: why would the company sell both pistachios and oranges instead of only pistachios?

A: CVP Analysis stands for Cost Volume Profit analysis. Under this, decisions are taken by Business…

Q: Use the information in the following trial balance to prepare a balance sheet for Red Inc. as of…

A: Balance Sheet :— It is one of the financial statement that shows list of final balances of assets,…

Q: Question 12   The following data pertain to Gliezel company on December 31, 20B: Trade accounts…

A: Introduction: Current liabilities are an enterprise's liabilities or debts that are due within a…

Q: Assume that Neptune plans to use all of its production capacity to produce the first 15,000 units…

A: Given in the question: Own Production Selling Price Per unit $9 Variable Cost per Unit…

Q: Prepare journal entries for the given transactions and post them to the T-accounts.  Do not prepare…

A: JOURNAL ENTRIES Date Description Debit Credit…

Q: Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: The fraud triangle shows three factors that push a person to commit fraud: Opportunity, collusion,…

A: Fraud is an act done by a person or group of people to get money or another benefit for themselves.…

Q: Revenue (200,000 units)                                           $1,600,000…

A: Preparing a budgeted income statement can be helpful in many ways, firstly, it can help individuals…

Q: For the coming year, Cleves Company anticipates a unit selling price of $142, a unit variable cost…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: Additional information follows: 1. Other expenses, which are paid monthly, include $3,500 of…

A:

Q: A telephone company purchased a microwave radio equipment for P6,000,000. Freight and installation…

A: Depreciation should always be calculated on original cost of the asset , where cost of the asset…