what is the difference between imprest fund system and fluctuating fund system?
Q: Discuss ROPs and to tal costs.
A: Answer: ROP is defined as reorder point. This is the inventory level that is to be maintained at the...
Q: ABC and XYZ Inc had the following balance sheets on December 31, 2021: (see image below) On January ...
A: Solution Requirements how much is the Goodwill arising from this Business Combination given informat...
Q: Ising Excel to Prepare a Partial Income Statement PROBLEM Barto Company provides the following infor...
A: solution concept net sales is calculate as the gross sales reduced by sales discounts , returns and...
Q: Here are selected transactions of Mason Consulting Service. Post the transactions into the appropria...
A: Ledger accounts are prepared by the amounts/entries posted from the journal entries. For understandi...
Q: Identify whether a debit or credit results in the indicated change for each of the following account...
A: Concept - To Increase the asset and expenses we need to debit them and to reduce them we need to ...
Q: Why are the board members of the IASB limited only to 14 people? Aren't they bombarded with workload...
A: solution concept IASB board members IASB stands for international accounting standar...
Q: ABC paid finder's fees of P80,000, legal fees of P26,000, audit fees related to stock issuance of P2...
A: Acquisitions method refers to a industry dominant company acquiring another company. In order to acq...
Q: Which is used by the government to determine eligibility for the Federal GST/HST credit payment? A T...
A: For GST/HST credit, the individual must be Canadian resident for income tax purposes. It is designed...
Q: The earbuds are sold in cases, with each case containing a pair of earbuds. The last quarter (Octo...
A: Income statement refers to the one of the financial statement which is prepared in determining the c...
Q: Use the following information for the next five questions:On January 1, 2021, ABC Co. acquired all o...
A: Consolidation- A consolidation statement refers to the consolidated financial statement that reflect...
Q: On July 1, KAW Inc. purchased 75 cows which, at that time were 2.5 years old for a total cost of P1,...
A: Fair value of 3 years old cow 25000 * 75 cows = P1875000 Fair value of 0.5 year old cow 6900 * 15 =...
Q: PLKO Co. factored P160,000 accounts receivable to NCD Financing Corp on a with recourse basis on Jan...
A: Factoring is the facility wherein the company sells its account receivable to third party called fac...
Q: On March 1, AYE Merchandising had an inventory of P560,000 in its retail store. Purchases made in Ma...
A: Cost of goods sold is actual cost of goods that is being sold to the customers. It includes beginnin...
Q: Coronado Company buys a $20600 van on credit. The transaction will affect the income statement only....
A: Solution: Van purchased on credit is Non current asset. Purchase on credit will give rise to a liabi...
Q: The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6...
A: Cash Reference Number Amount Amount Reference Number 1 $ 6,400 $ 5,300 2 5 ...
Q: REQUIRED 1. Prepare the January 1 journal entry on Son's books to record push-down values. 2. Prepar...
A: Push-down accounting refers to an accounting method which is used by the company while purchasing an...
Q: b. and d. Enter a debit balance of $840 as of September 1, 2019 in the supplies general ledger accou...
A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers. Le...
Q: BC and XYZ Inc hahow much is the Goodwill arising from this Business Combination? *d the following b...
A: solution given Purchase price 40000 Fair value of current assets of XYZ 26000 Fair v...
Q: if the value implied by the purchase price of an acquired company exceeds the fair values of the ide...
A: Acquisition refers to purchase of a company by another company by paying purchase consideration in e...
Q: Using the pre-determined overhead rate calculated above, calculate the overhead that would be alloca...
A: >Predetermined Overhead rate is calculated at the beginning of the period to allocate the overhea...
Q: Required: Show adjusting entry required on 30 June 2021 for depreciation of the delivery vehicle acq...
A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...
Q: a1) Prepare an income statement for Ivanhoe Company for the year ended April 30, 2022. (Enter negati...
A: Net income (NI), also known as net earnings, is calculated by subtracting sales from the cost of goo...
Q: 0. XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC p...
A: The total acquisition cost is the sum of purchase price and transaction cost. Goodwill is calculated...
Q: Exercise 5-19 (Algo) Prepaid expenses—insurance LO 10 Skip to question [The following information...
A: The accounting equation states that assets equals to sum of liabilities and shareholders equity. Sh...
Q: UBERCRUMMIE & FRITCH CO. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME Formulas/Lin...
A: Gross Profit Margin=Gross ProfitNet Sales×100Net Profit Margin=Net ProfitNet Sales×100
Q: On quesiton C: Johnson’s borrowed $282,000 at a(n) 9 percent annual interest rate on April 1 of the...
A: Adjusting entries are those journal entries which are passed at the end of accounting period in orde...
Q: Required information [The following information applies to the questions displayed below.] The trans...
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is recor...
Q: 6. ABC and XYZ Inc had the following balance sheets on December 31, 2021: (see image below) On Janua...
A: When a company acquires all the shares of another company, all the assets and liabilities of the tra...
Q: What is the carrying value of Land after the recognition of the impairment loss?
A:
Q: A local Barnes and Noble paid a $79.88 net price for each hardbound atlas. The publisher of publishe...
A:
Q: On January 1, 2021, ABC Co. acquired all of the identifiable assets and assumed all of the liabiliti...
A: solution given Number of ABC co’s share 60000 Par value per share 40 Fair value of i...
Q: On June 10, 20X1, an employee of Williams Corporation mistakenly debited Telephone Expense rather th...
A: A rectification entry is a journal entry which is passed in the books of accounts to correct a error...
Q: The following information pertains to Crossroads Consulting, Inc. Match each of the following parts ...
A: Components of Accounting Information System: Individuals, processes and instructions, data, software...
Q: Differentiate using an example company’s primary revenue and secondary revenue, company’s primary ex...
A: Revenue refers to the funds generated by an entity through its direct or indirect business operation...
Q: The following information relates to CEE Company: (Refer to image). Assuming CEE Company used the co...
A: Inventory Cost: Inventory carrying cost is the sum of all expenditures incurred in the process of ho...
Q: Emily, who is single, has been offered a position as a city landscape consultant. The position pays ...
A: Solution:- Given, Emily Receives a job offer = $1,20,000 Non-taxable benefits = $5,000 As per 2021 T...
Q: Prepaid insurance 50 Retained earnings (beginning) 1,600 Salaries and wages expense 600 265 Salaries...
A: Net income (NI), also known as net earnings, is calculated by subtracting sales from the cost of goo...
Q: March 1 Brooks invested $195,000 cash along with $24,000 in office equipment in the company. March 2...
A: 1. Date General Journal Debit Credit Mar 01 Cash 195,000 Office equipment ...
Q: Prepare a cash flow statement for the year ended 30 June 2020. In preparing the report for the cash ...
A: Cash flow statement is the statement which is prepared by the company at the end of period in order ...
Q: Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On ...
A: Income statement is the financial statement which is prepared to compute the net income and to check...
Q: Raytheon Company disclosed the following data related to segment sales and operating profits for fis...
A: GIVEN Raytheon Company disclosed the following data related to segment sales and operating profits...
Q: Cost 500,000.00 1,285,000.00
A: The average cost method is given as,
Q: ABC and XYZ Inc had the following balance sheets on December 31, 2021: (see image below) On January ...
A: solution given Purchase price 40000 Fair value of current assets of XYZ 26000 Fair v...
Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the...
A: Answer: Social and economic accounting and financial are all related with each other. The basic conc...
Q: Required information Exercise 5-19 (Algo) Prepaid expenses—insurance LO 10 Skip to question [The ...
A: Prepaid expenses are those expenses which are related with future period of time, but amount has bee...
Q: You hadn't heard from Rita for a couple of years but have just received an e-mail asking for some fu...
A: Partnership is one of the agreement or arrangement between two or more than two persons, in which th...
Q: ers 7-9) Saved Westway Company pays Suzie Chan $3,100 per week. Assume Social Security is 6.2% on $1...
A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any c...
Q: mpany uses ti proach. Wha- tio? Express y
A: The cost ratio is given as,
Q: You are provided with the following information for Blossom Company, effective as of its April 30, 2...
A: Income statement represents the net income or the net loss that includes the reporting of revenues a...
Q: Under the new Tax Cut and Jobs Act of 2017 rules for the computation of taxable income did not chang...
A: ANSWER Tax Liability: Tax liability is the total amount of money that is liable to pay the tax b...
what is the difference between imprest fund system and fluctuating fund system?
Step by step
Solved in 2 steps