What the webinar is all about, its main objectives, topics, general ideas etc.

Q: KK Corporation owns 80 percent of LL Corporation’s common stock. During October, LL sold merchandise…

A: Solution Concept upstream sale               When the sale is being made by the subsidiary to the…

Q: Balanced scorecards use both financial and nonfinancial measures to evaluate employees. The four…

A: Balanced scorecards use both financial and nonfinancial measures to evaluate employees. The four…

Q: 56 What do an appropriation of retained earnings and a declaration of a cash dividend (for the same…

A: Solution Appropriation of the retained earnings means the Appropriation of retained earning for…

Q: create a sources and use of funds statement with the following information Startup cost: $900…

A: The fund flow statement helps to track the change in the financial position that is the reason for…

Q: Cost of goods sold Beginning inventory Ending inventory $722,000 53,000 67,000

A: Formula: Inventory turnover ratio = Cost of goods sold / Average Inventory

Q: Chapter 3 Product Costing 7. Total costs were factory overhead P100,000 (20% fixed), marketing and…

A: Under Absorption costing, all manufacturing costs (whether fixed or variable) are included in the…

Q: Q2. Wintz Publishing House produces consumer magazines. The House and Home Division, which sells…

A: IMA (Institute of Management Accountants) has provided mainly 4 standards on Ethical Professional…

Q: When company reduced its inventories to zero, then   a) Variable costing income > Absorption costing…

A: The difference between absorption costing income and variable costing income arises due to the…

Q: A work element takes 20 hours of labor of a technician. Currently, the technician makes $22.50 per…

A: The answer is stated below:

Q: Channing Company has two divisions, S and T. The company's overall contribution margin ratio is 30%…

A: If Contribution margin ratio  = 25% Then variable cost = 100-25 = 75%

Q: Earnings before interest and taxes Current assets Non-current assets Current liabilities Non-current…

A: Solution Concept EVA means economic value added It means the value that is added over and above the…

Q: Estimates of future cash flows of a property, plant and equipment shall include estimated future…

A: Given statements Statement 1: Estimates of future cash flows of a property, plant and equipment…

Q: The income statement of Collins Co. reported total sales revenue of $460,000 during the current…

A: Cash inflows from customers during the current year  = opening accounts receivable  + credit sales…

Q: Show the effects of these transactions on the balance sheet equity accounts. Presently the stock…

A: Solution:- a)Calculation of the  effects of these transactions on the balance sheet equity accounts…

Q: 34 Presented below is the equity section of Coca-Cola Corporation at December 31, 2022: Share…

A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

Q: Statement of financial position information is useful for all of the following except to Group of…

A: Statement of financial position is the Balance Sheet.  Balance Sheet represents the assets,…

Q: Problem 4: First-In First-Out vs Average Costing The following information relates to JKL Company's…

A: FIFO method is first in first out method under which inventory which is purchased first will be sold…

Q: Carrot Company sells one and two-year mail order subscriptions for video of the month business.…

A: Solution Unearned subscription revenue Unearned subscription revenue means the amount that has been…

Q: rtized premiums of P1,770 and P1,830, respectively. At December 31, 2022, the fair value of the…

A: Profits on readily available-for-sale securities with easily determined fair values should be…

Q: 12/31/2021 Balances 27,000 51,000 95,000 Account Accounts payable Accounts receivable Accumulated…

A: 1. Income Statement - This statement shows the income earned and loss incurred by the organization…

Q: Using the following information, prepare the Stockholders’ equity section of the balance sheet.…

A: Stockholders' equity is the equity section of the balance sheet for a corporation. The stockholders'…

Q: Question 1 A company produces a single product called the Fidget. The following information relating…

A: Contribution per unit Contribution / total number of units $360,000/15000 $24 Selling price per unit…

Q: ts accounts receivable, marketing principles such as the five C’s of Credit are employed. For…

A: The five C's of credit reflects the credit rating norms used by financial institutions to check the…

Q: QUESTION 9 Using the incomplete Flexible Budget Performance Report below, calculate the total fixed…

A: A flexible budget is prepared on the basis of the budgeted rate and on the basis of different…

Q: Statement 1: A recovery of impairment for a tangible long-lived asset is limited to the carrying…

A: Impairment of assets means reducing the book value  of assets when carrying amount is more than…

Q: Hunt Co. at the end of 2021, its first year of operations, prepared a reconciliation between pretax…

A: Taxable income is the one upon which a certain tax percentage will be applied to be paid to…

Q: Question 1 The following is a list of accounting transactions. Indicates the effect of each…

A: Every accounting transaction has a double entry which will affect assets or liabilities or equity of…

Q: Securities exchanges create efficient markets that do all of the following EXCEPT

A: Because there are primary markets and Secondary Markets which investors have to take the opportunity…

Q: Turn to Stone, Inc. manufactures statues of pop culture icons. All statues are the same size and…

A: Higher (lower) actual direct material cost per statue = Actual direct material cost per statue -…

Q: On January 1, 2020, Alaska Corporation purchased P1,000,000 10% bonds for P1,051,510 (including…

A: Calculation of the amount to be recognized as fair value adjustment loss in its 2020 profit or…

Q: [The following information applies to the questions displayed below.] On January 1, the Matthews…

A: Formula: Annual Depreciation (straight-line method) = Depreciable value of the assets / Expected…

Q: What is the ending balance of the investment in associate account as of December 31, 2022?

A: On January 2, 2021, Normal Inc. acquired 15% interest in Laco Co. by paying P1,500,000 for 7,500…

Q: Gentlemen Company expects the total costs of goods sold to be $43,000 in November and $73,000 in…

A: Purchases = Ending inventory + Cost of goods sold - Beginning inventory where, Ending inventory =…

Q: Problem 9: Job Order Costing XYZ Company produced Job 511 which required direct materials costing…

A: Lets understand the basics. For calculating overhead cost, we need to use below formula Overhead…

Q: During 2019, Dandi Inc. produced 7000 units and sold 6500 units at 5 per unit. Variable…

A: Increase in Net income if absorption costing is used instead of Variable costing = Increase in…

Q: Long-term assets can include investments such as the purchase of new equipment, the replacement of…

A: Capital investment is the long term investment in which the assets involved has useful life of…

Q: Sheffield Consulting Inc's gross salaries for the biweekly period ended August 24 were $12,500.…

A: Salaries expenses include the following deduction = CPP Payable + EI payable  + income tax payable…

Q: On January 1, 2020, Subsidiary Company purchased a delivery truck with an expected useful life of 5…

A: The process of integrating the financial results of numerous subsidiary companies into the parent…

Q: Indicate which statements are true and which are false. 1. Internal control procedures should be…

A: solution introduction internal control is the procedures that are laid down by the management for…

Q: What is the amount of the economic value added (EVA)? * The following information is available for…

A: Solution Concept EVA means economic value added It means the value that is added over and above the…

Q: You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise…

A: Cash budget is one of important budget being prepared in business, which shows expected cash…

Q: Blue Corporation has 50,000 shares of P10 par ordinary shares authorized. The following transactions…

A: total contributed capital amounted = Total of Common stock at par + Additional paid in capital…

Q: 1. Make a table for the following and fill up with answers in two decimal places for the data in…

A: Solution Formula used Selling price       = cost + mark up % Mark up  cost               = markup /…

Q: Mode 6- Lump Sum Acquisition, With Direct Attributable Cost Numbers 14 and 15 On June 1. Thick…

A: Asset Valuation is the method of calculating the total value of the asset to be recognised in the…

Q: Bambam grp. has income of 3000 under variable costing. Product cost per unit under Variable costing…

A: Under Variable costing only, Variable manufacturing costs (i.e., Direct materials, Direct Labor and…

Q: All of the following are current liabilities, except: Group of answer choices Serial bonds maturing…

A: As per IAS 1 a liability  is classified as current liability when it is to be paid with in normal…

Q: A good performance measurement system should have the following characteristics: It should be based…

A: Good performance measurement must be established because the absence of a good performance…

Q: Statement 1: All property, plant and equipment shall be initially measured at cost and presented in…

A: all property plant and equipment are considered to buy important for business as these are the non…

Q: Statement 1: In impairment loss, the discount rate being used is the current pretax rate that…

A: Ans. While computing impairment loss it is necessary that the cash flows are adjusted and multiplied…

Q: Suppose that a city is considering the relocation of eight fire stations to improve fire protection…

A: GIVEN     Suppose that a city is considering the relocation of eight fire stations to improve fire…