A firm has directly placed an issue of commercial paper that has a maturity of 60 days. The issue sold for P980,000 and has an annual interest rate of 12 percent. The value of the commercial paper at maturity is *

Q: 12. What is the final balance of the cash account after posting all related transactions to the ledg...

A:   Journal means the book of prime entry where all entries are recorded in different pages. Ledger me...

Q: The following trial balance was extracted from the books of Movies To The Max Ltd at December 31, th...

A: The closing entries are made to close the temporary accounts and transfer the balance into Income Su...

Q: 2022 Formula One World Championship pre-season testing session just started and due to the porpoisin...

A: WORKING FOR CALCULATION OF GOODWILL     PARTICULARS   AMOUNT (In Php) PURCHASE CONSIDERATION   P...

Q: The following events occurred in Fresh Cleaning Company in December 2021: (1) A customer has purchas...

A: The main objective of any set of accounting standards appears to be to ensure that a company's finan...

Q: ABC Corporation’s liability account balances at June 30, 2018, included a 10% notes payable in the a...

A: What amount should be recorded as accrued interest for this note:- Accrued interest:-       = outsta...

Q: Interest versus dividend income Last year, Shering Corporation had pretax earnings of $480,000. In a...

A: The above question answer is given in the following steps for your reference. 

Q: Identifying agency problems, costs, and resolutions You are the CEO of Nelson Corporation, and the c...

A: A business takeover is a transaction where one company bids and completes the acquisition of control...

Q: Relax Spa Company is engaged in providing facial and body treatment in a spa centre. Customers are r...

A: Introduction: An income statement or profit and loss account (also known as a profit and loss statem...

Q: 16. What is the balance of the accounts receivable after pencil footing the ledger? 38,000 debit O 1...

A: Accounts Receivable It is a money due to a firm for goods or services delivered or used but not yet ...

Q: Question 29, P1-10 (similar to) Part 1 of 2 Interest versus dividend expense Michaels Corporation ex...

A: It is pertinent to note that dividends are paid to shareholders/owners of an entity whereas interest...

Q: Cullumber Repairs has 200 auto-maintenance service outlets nationwide. It performs primarily two lin...

A: Lets understand the basics. Break even point is a point at which no profit/no loss condition arise. ...

Q: manufactures and sells high-priced motorcycles. The Engine Division produces and sells engines to ot...

A: Differential analysis is performed fir the situation when two alternatives are available for the com...

Q: d. What should Ken re pro that the company do? hy? Question 26, P1-4 (similar to) Part 1 of 5 Margin...

A: Given information, Present Value of Existing Benefit=$423,000 Present Value of Proposed benefit=$525...

Q: to the nearest integer.) More info Corporate Tax Rate Schedule Taxable income brackets Base tax $o t...

A: Marginal tax rate refers to the extra tax paid for every extra dollar gained by an entity.  

Q: Find the cash flow from financing activities of public trading company which was in the business of ...

A: Cash flow from financing involves activities associated with shares and debentures issue, long term ...

Q: Cheese Partners has decided to close the store. At the date of closing, Cheese Partners had the foll...

A: The partnership comes into existence when two or more persons agree to do the business and further s...

Q: is to be for 3 years ning of each year. inoy has a fair volu

A: C) Journal entries in the books of Garcia for the year 2017 Date Particulars Debit ($) Credit ($)...

Q: Corporate taxes Southern Textile Ltd. is a manufacturer of sportswear that supplies to a number of E...

A: Let's understand some basics  Taxes are mandatory contributions levied on individuals or corporation...

Q: Use the data in Exhibit 14.5 On October 7, Schmidt Machinery Company purchased 720 pounds of PVC at ...

A: journal entry under cost accounting integrated set where both financial and cost systems are recorde...

Q: Riley's Rugs has a unit selling price of $120, unit variable cost of $40, and fixed costs of $35,000...

A: Contribution margin = sales - variable cost  

Q: 29. In preparing a statement of cash flows, whic an operating activity? a. Sale of equipment b. Taki...

A: A CASH FLOW STATEMENT HELPS TO CALCULATE CASH FLOW FROM OPERATIONS OR USED IN OPERATIONS. IT ALSO RE...

Q: Liabilities Liquid assets Monthly credit payments Monthly savings $ 8,000 $5,000 $ 668 $ 150 Net wor...

A: Formula: Debt ratio = Liabilities / Net worth

Q: At the end of the current year, the unadjusted trial balance of Branco, Inc., indicated $5,835,000 i...

A: Introduction:- A trial balance is a list of all the accounts in a company's general ledger (includin...

Q: Linda Mars, a recent graduate of Bell's accounting program, evaluated the operating performance of C...

A: Under marginal costing, costs are divided into fixed and variable costs. Fixed cost is an unavoidabl...

Q: 455,000 32 during the vear?

A: As per the accounting equation Total Asset= Total Liabilities + Owners Capital Owners Capital is the...

Q: Rushton Corp., a wholesaler of music equipment, issued $11,000,000 of 20-year, 9% callable bonds on ...

A: Bonds are the method of raising finance for the business entity. It is considered as a cheaper sourc...

Q: Accounts Receivable and Inventory Turnover Use the following information to respond to the questions...

A: Ratio analysis helps to analyze the financial statements of the company. The management can take dec...

Q: Question 28, P1-9 (similar to) Part 1 of 5 Interest versus dividend income Last year, Shering Corpor...

A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for yo...

Q: a. Compute the amount of th. b. Prepare a 1o-year lease am Prenare all of the lessee's i

A: Lease Term  10 years Economic Life 12 years     Fair Market Value of Equipment 299140 Un gua...

Q: An equipment costs P10,000 with a salvage value of P500 at the end of 10 years. Calculate the annual...

A: Sinking Fund Depreciation Method: It is possible to depreciate an asset while simultaneously earning...

Q: Grand Canyon Toy Company manufactures talking toy Christmas kitten in four sequential processes. Th...

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

Q: Feal-Goode Inc. purchased a patent on a new drug. The patent cost S12,000. The patent has a life of ...

A: Formula: Amortization expense per year = Patent cost / Useful life years

Q: Down Under Products, Limited of Australia has budgeted sales of its popular boomerang for the next f...

A: Production budget is an estimate of units to be produced in a future accounting period. The preparat...

Q: The problem to be resolved: The following trial balance was extracted from the books of Movies To T...

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

Q: occurring at the end of the year. Find the payback period for both these projects. Year Project 1 Pr...

A: Payback period - The duration of the project life with in which the initial investment is return bac...

Q: The Dec. 31, 2016, statement of financial position of Leon Company showed Accounts Receivable of P50...

A: Bad debts are also known as doubtful debts. The bad debts expenses estimated for a particular period...

Q: What factors must any company consider before accepting a special-order contract?

A: Company has to consider following points while accepting special order: 1. Potential effect on sale ...

Q: In financial analysis there is a possibility that business opportunities for growth will be uncovere...

A: Financial analysis is the analysis of the business in order to assess the profitability, stability o...

Q: Townsend Chemical Company makes a variety of cosmetic products, one of which is a skin cream designe...

A: Avoidable cost is a cost which can be avoided if a particular decision is made. Here the cost of mat...

Q: 1 Statements Answer When CPAS are associated with 1. the CPAS' services and believe that the account...

A: Necessary word for complete the statement are as follows.

Q: Picnic Corp. acquired 80% of outstanding shares of Grove Inc. the stock acquisition resulted to a go...

A: Control premium refers to the amount that the buyer of the company or the acquirer pays to have cont...

Q: he balance sheet of Matnog Company as of December 31, 2022 is as follows:   Assets         Li...

A:   Note 1:In Case of consolidated balance sheet Gain on acquisition is recorded as Zero. As only post...

Q: Russia Company provided the following information on December 31, 2021: Jan. 15, 2022 - P3,000,000 o...

A: Adjusting entries refer to journal entries which are made at the end of the accounting year or perio...

Q: QUESTION 9 Put the following steps in an Activity-Based-Costing system in the proper order. v Calcul...

A: Cost Accounting: Cost accounting is characterized as "a methodical arrangement of methodology for re...

Q: Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after all...

A: Introduction: Partnership: Its an agreement between two or more partners for forming a business and ...

Q: Mary, a widow, died in 2022. Her personal representative filed a federal estate tax return showing t...

A: As you asked multiple questions,but as per our company policy we are giving answer to first question...

Q: At the beginning of 2021, Gala company purchased equity securities to held for trading for P5,000,00...

A: It is pertinent to note that equity securities held for trading are measured at fair value through p...

Q: elax Spa Company is engaged in providing facial and body treatment in a spa centre. Customers  are r...

A: A financial statement is the written records of the company that coveys business activity and shows ...

Q: Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple fi...

A: A tax liability seems to be a payment owing to a federal, state, or municipal tax body by a person, ...

Q: 2. If XYZ Company Acid-test ratio is computed as 1.7. Which statement interprets the acid-test ratio...

A: Ratio analysis means where different ratio of various years of years companies has been compared and...

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.