1 1 1 2 2 2 2 3 3 3 3 4 4 4 4 5 5 5 5 JOB TITLES: financial accountant professor

Q: You are the audit senior on the audit of Harmony Pty Ltd, a large manufacturing company, for the yea...

A: Auditing involves an independent examination of financial records of an entity by the auditor with a...

Q: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals...

A: The question is based on the concept of Cost Accounting.

Q: Aragon Company produces and sells a particular home appliance. The variable cost (VC) per unit is P5...

A: Solution: Variable cost per unit = P50 Fixed costs = P70,000 Let nos of units = x

Q: Remedios Corporation's 2021 manufacturing costs were as follows: Prime cost P 600,000 100,000 Variab...

A: Product costs  for external reporting purpose = Prime costs + variable manufacturing overhead costs ...

Q: Sherwood, Inc., the parent company of Frito-Lay snack foods and Sherwood beverages, had the followin...

A:   Current Year(in millions) Previous Year(in millions) Cash and cash equivalents $4,417 $4,604 S...

Q: Adax Designs Services is a partnership with Adam and Max as partners. The partnership has been opera...

A: The Statement of Changes in Equity reconciles the opening and closing balances of shareholders' equi...

Q: On April 8, Manuel borrowed $700.00 from his uncle at 5.6% per annum calculated on the daily balance...

A: Loan Repayment Schedule: Loan payment made at every interval of time which includes principal and in...

Q: information relates to this agreement. 1. The term of the non-cancelable lease is 3 years with no r...

A: Journal entries refer to the systematic documentation of the financial transactions of a company in ...

Q: Roy dies and is survived by his wife, Marge. Under Roy’s will, all of his otherwise uncommitted asse...

A: 38 R dies and his assets are transferred to his wife M. it is required to compute R marital deductio...

Q: Given the following for Silver Company in 2019: revenues P5,300,000, manufacturing costs P2,200,000 ...

A: Contribution margin = Sales - Variable Costs Variable manufacturing cost = P2200,000 *50% = P1100,00...

Q: two types of misstatement in a financial report that may arise from fraud

A: Misstatement from fraud is the incorrect balances of accounts in the financial statements due to del...

Q: i. Estimate the Free Cash Flow to the Firm (FCFF), for the most recent financial year. ii. Estimate ...

A: EBITDA= $2483.125 Depreciation= $960 EBIT= $1523.125 Interest= $320 EBT= $1203.125 Taxes= $433.125 N...

Q: lazomanie Farm completed 16,000 units during the quarter and has 2,300 units still in process. The u...

A: The number of finished units of a product that a firm might potentially have manufactured given the ...

Q: 1. Ms. X operates a convenience store while she offers bookkeeping services to her clients. In 2020,...

A: Hi student Since there are multiple questions, we will answer only first question.

Q: In the fiscal year just concluded, the University Shop reported net income of. P4,000,000 on sales o...

A: Fixed costs are those costs which do not change with change in level of activity.  Fixed costs = Con...

Q: Abolt Corporation makes 40,000 units per year of a part it uses in the products it manufactures. The...

A: The question is based on the concept of Cost Accounting.

Q: Spinner Ltd is a bedding manufacturer that achieved a net profit before income tax of $1 842 000 for...

A: Introduction: Inventory Valuation: The company sold 25% of its inventory for less than its cost the ...

Q: Jeff Zengel is a financial consultant to Rae properties Inc. a real estate syndicate. Rae Properties...

A: The actual break-even for the first 4 years will be 60% which will go up to 90% after the 4th year. ...

Q: The trial balance for Winslow's Auto Body has been prepared with errors. Use the trial balance to an...

A: Solution: Winslow Auto Body Trial Balance Particulars Debit Credit Cash $19,475.00   Acco...

Q: The following financial ratios have been calculated for Nova Ltd for the year ended 30 June 2008:  ...

A: The question is based on the concept of Accounting Ratios.

Q: LO.4 (OH allocation using cost drivers) Wyeth Corp. has decided to implement an activity-based costi...

A: Activity based costing system is a type and form of costing system, in which all indirect costs and ...

Q: Choose the correct letter of answer Polish Company is a leading local maker of Christmas decors. Th...

A: Total cost includes fixed cost and variable cost used for the production of units. The variable cost...

Q: When is each of the following ledgers used? Elaborate your answers  1. General Ledger 2. Payables ...

A: 1. A general ledger is used in accounting to keep track of all of a business's transactions. Assets,...

Q: The following information is for the Bloom Company for 2012; the company sells just one product:   ...

A: The question is based on the concept of Cost Accounting.

Q: Ms. P put up an accounting firm on November 1, 2011.  The registered name of the business is “P Acco...

A: Financial statement means the trading and profit and loss account and balance sheet of the company w...

Q: Parson Company   Syber Company   Consolidated Totals Sales $ (744,000 )   $ (654,000 )   $ (1,223,00...

A: Working Notes: 1. Income tax expenses = Consolidated net income x tax rate                          ...

Q: Problem 3: Galore Company ventured into construction of a condominium in Makati which is rated as th...

A: Fair value model: In the fair value model, the property is valued at its fair value and remeasured a...

Q: When Globe Company’s production is equivalent to 400,000 units, its variable cost is P70,000 while f...

A: Fixed cost doesn't change irrespective of number of units produced.  

Q: TRUE OR FALSE: Read each sentence carefully and determine whether the statement is True or False. Wr...

A: Hi student Since there are multiple questions, we will answer only first question. Since first quest...

Q: A. At the beginning of current year, an entity provided the following information in connection with...

A: Fair value of plan assets at year-end = Fair value of plan assets at beginning + contribution to the...

Q: Required: (a) Calculate the variable manufacturing overhead and fixed manufacturing overhead flexibl...

A: 1) Variable overhead variance = variable overhead efficiency variance + variable overhead rate varia...

Q: Suppose the charge account of​ Strong's Mailing Service at the local supply store had a​ 1.8% intere...

A: The question is based on the concept of Financial Accounting.

Q: create t-accounts general ledger

A: T accounts preparation is the important step of accounting cycle process. These accounts are prepare...

Q: Jack and Beans, who share in profits and losses in the ratio of 3:7, decided to liquidate their Talk...

A: A partnership seems to be a type of business in which two or more individuals enter into a legal agr...

Q: handle her cash infiows and outflows for the month. Transactions made by Cora for the month are list...

A: Cash flows means changes in cash balance. It can be incoming of cash (cash inflow) or outgoing of ca...

Q: ramon hernandez saw the following advertisement for a used volkswagen bug and decided to work out th...

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for...

Q: 2. RST company's transaction during the month of May, 2021 are as follows: (Assume the company is a ...

A: The balance of VAT payable would increase on sales and reduce by VAT paid on purchases. The governme...

Q: Bautista Company produces and sells a particular home appliance. The variable cost (VC) per unit is ...

A: Unit contribution margin = Sales price per unit - variable cost per unit = P120 per unit - P50 per u...

Q: short answer Some companies go out of business due to lack of cash flow. Even if they may have a lo...

A: Cash flow statement means the statement which shows the cash flow in or out of business enterprises ...

Q: How many units must have been completed and transferred if beginning inventory was 79,000 units, end...

A: Units started and completed can be calculated by adding up units started and deducting ending invent...

Q: On January 1, 20xl, A and B, who share profits and losses on a 60:40 ratio, decided to liquidate the...

A: Capital Balance of A P12,00,000 Amount received by A P7,68,000 Share of loss of A (P1200000 - P7...

Q: Ms. P put up an accounting firm on November 1, 2011.  The registered name of the business is “P Acco...

A: No. Account Debit (P) Credit (P) 1 Cash  30000     Ms. P   30000   (To record cash contributio...

Q: Cabang, a partner in the Cabang and Menace Partnership has a 30% share in the partnership profit and...

A: Particulars Amout (P) Withdraw of Capital 130000 Less Addition of Capital in form of Property 25...

Q: The income statement for the month of June, 2020 of Shamrock Inc. contains the following information...

A: All the expenses and revenue are closed to Income summary account. If the Income summary account has...

Q: XYZ partnership formed its partnership on June 1, 20x1 with the following capital balances:         ...

A: A interest on capital = P60,000 x10%x7/12                                     = P3,500 B interest on...

Q: If total assets decreased by $119,300 during a period of time and owner's equity increased by $67,60...

A: Liabilities = Assets - Owner's Equity So if assets will decrease, liabilities will also decrease an...

Q: jus nysical units Units in proc 11

A: Working :-                      Cost for the month  :-       Labor  62500 [P 100 per hour]= 62500/10...

Q: On a scattergrap, the diagonal line cuts across two sets of observations, namely: 600:200, and 900:5...

A: Solution: Total costs at 200 units = P600 Fixed costs = P400 Variable cost at 200 units = P600 - P40...

Q: Compute for the following: 1. Current Ratio 2. Quick Ratio 3. Debt Ratio 4. Equity Ratio

A:

Q: B. Post the transactions to T-accounts. C. Record and post the following adjustments: a) Insurance e...

A: When assets and expenses increase they are debited. Assets and expenses have a normal debit balance....