Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000
Q: Kapoor Bhd issued 4 percent debentures with a nominal value of RM40,000,000 on 1 January x1. The…
A: Debenture- A debenture is a marketable security (a type of investment) issued by a company or other…
Q: Part 1 On April 1, 2020. Shelter Bay Inc. has available for issue S00,000 honds due in four years…
A: Valuation of Bond
Q: Light Inc. had the following activities during the current year: Acquired 4,000 shares of Dark Inc.…
A: Cash inflows from operating activities mean the cash received in respect of carrying out the daily…
Q: Pompeii's Pizza has a delivery car that it uses for pizza deliveries. The transmission needs to be…
A: NPV for present Car: $ 55,582 NPV of new Car: $ 68,253 Detailed explanation Given Below: PV @ 12 %…
Q: This year, the Tastee Partnership reported income before guaranteed payments of $263,000. Stella…
A: The question is related to the Partnership Accounting. The details are given regarding the same.
Q: A business issued a 120-day, 15% note for $83,000 to a creditor on account. Journalize the entries…
A: Interest expense = $83,000 x 15% x 120/360 = $4,150
Q: Makati Inc. acquires a building on February 1, 2020 at a cost of 5,500,000. The building has an…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Vaughn Company is considering two capital investment proposals. Estimates regarding each project are…
A: Cash payback period is the time that is taken by the entity to fully recover the initial cost.
Q: Fabienne Talent Agency has a beginning capital amounting P 1,250,000, an additional investment of P…
A: Formula: Ending capital = Beginning capital + Additional investment + net income - withdrawals
Q: Gallant Sports is considering the purchase of a new rock-climbing facility. The company estimates…
A: Net present value = Present value of cash inflows - present value of cash outflows Net present value…
Q: In January 2028. Interesado Bank reported a net income of P500,000, net of debt securities trading…
A: You have posted multiple questions which are not interlinked, therefore as per Bartleby policy, only…
Q: Brian Burns uses perpetual inventory system and LIFO All credit sales discounts are recorded using…
A: A cash flow statement is a statement that shows all the inflows and outflows of cash of an entity in…
Q: What is the difference between order discounts and volume discounts?
A: there are different types of discount from the cells that customer can earn close discount are…
Q: nits; unit selling price $73. it of finished goods: direct materials, 2 kg at $4 per kilogram g…
A: Direct Material 2kgs $ 4.00 $ 8.00 Direct Labour 4hrs $ 11.00 $…
Q: The Bronco Corporation exchanged land for equipment. The land had a book value of $138,000 and a…
A: Exchange means to give up something for something else. Here in the question, Land is exchanged with…
Q: Use the fo11 Owing to answer questions KMC Corp.'s management is considering either a 100% stock…
A: The stock split is the type of dividend where number of shares are changed affecting the par value…
Q: Dinshaw Company is considering the purchase of a new machine. The invoice price of the machine is…
A: GIVEN Dinshaw Company is considering the purchase of a new machine. The invoice price of the…
Q: is a correct statement below? A. Equity is the residual interest in the liabilities of the entity…
A: Option A is incorrect The correct statement is Equity is the residual interest in the assets of the…
Q: A certain car was purchased for $22,500. The car has a resale value of $14,500 after a useful life…
A: Annual depreciation = ($22,500 - $14,500) / 6 years = $1,333
Q: Suppose 10-year T-bonds have a yield of 5.30% and 10-year corporate bonds yield 8.90%. Also,…
A: Solution:- Given, T-bonds - 10 year have a yield = 5.30% 10-year corporate bonds yield = 8.90%…
Q: Management of Animo Inc has asked for your help as an intern in preparing some key reports for…
A: Conversion costs is the cost to convert the raw material into finished goods. Prime cost is the…
Q: Gia Corporation purchased machinery on January 1, 2019 for ₱840,000. The company used the…
A: 1. It has to be handled prospectively, therefore there is no cumulative effect on tax. Answer is…
Q: The beginning balance of supplies is $4000. On December 31st, the physical count of remaining…
A: Supplies used during the year = Beginning balance of supplies - Physical count of remaining supplies…
Q: Amanzi Company applies Overhead based on Direct Labour hours. At The beginning of the year, Amanzi…
A: Formula: Predetermined overhead rate = Estimated overhead / Estimated direct labor hours
Q: Cane Company manufactures two products called Alpha and Beta that sell for $240 and $162,…
A: Solution: Profit from special order depends on the special price and relevant cost for special order…
Q: In my accounting class I am learning how to prepare contribution margin income statements. I am…
A: The variable cost per unit remains constant at every level of production. The fixed cost remains…
Q: Costs labor and uo o1ɔ IJed o O UoueAIm:
A: In this problem , Nelly Co. incurred a cost for plannting…
Q: Happy
A:
Q: 1 The city in which you live provides its budget information in monthly budgetary control reports…
A: Budget It is important for the business entity to prepare the budgetary preparation which can be…
Q: TRUE OR FALSE? Once decided by management as an asset held for sale, management can never change…
A: An entity should classify an asset held for sale category when the carrying amount of an asset will…
Q: Sales variance is the difference between sales price and ---------- Labour rate variance Sales…
A: Sales variance =Actual sales - budgeted sales = Actual quantity * actual price - budgeted quantity *…
Q: On June 1, 2018, Coronado Company and Whispering Company merged to form Metlock Inc. A totalof…
A: Earning per share tells how much each share of company's stock makes money. The tax rate given is…
Q: On June 1, 2018, Wildhorse Company and Sheffield Company merged to form Tamarisk Inc. A total of…
A: Earnings per share:- It is calculated company's net profit available for common shareholders by the…
Q: Which of the following is true of relevant costs? a.Relevant costs are sunk costs that alter future…
A: Sunk cost is the cost which was incurred in past.It is not relevant for decision making.
Q: Issue 5,0 s102.50 per share nal shares of preferred stock for 1-Mar 1-Mar Issue 100,000 additional…
A: I am answering the question number 12 as specifically asked by the student. Common shares are…
Q: Can corporations use the Cash method of accounting ?
A: There are certain types of companies which can follow cash basis of accounting. In cash basis of…
Q: Problem 10-10 (Algo) Interest capitalization; weighted-average method [LO10-7] On January 1,…
A: The question is based on the concept of Borrowing cost in Financial Accounting. Borrowing cost that…
Q: In April Leafon Landscapes' direct labor was 60% of the conversion cost. If the manufacturing…
A: Conversion cost = Direct labor + Manufacturing overhead
Q: On July 1, 2020, Oliver Construction Corp. contracted to build an office building for Annalise Inc.,…
A: Percentage Completion Method: The percentage of completion may be calculated by dividing current…
Q: What are the main sources of revenues for the City of Phoenix, including both governmental and…
A: The revenues arise from the operations of the business and the City P has classified its…
Q: Cito's Corp. has current assets of $4.5 million and current liabilities of $3.6 million. The current…
A: Financial ratios are those which provide a summary of the accounts of a company and helps an…
Q: Production costs are inclusive of the following EXCEPT Selling and Distribution Cost Supervisor's…
A: Production cost is the cost incurred to produce a product.
Q: The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume…
A: Formula: Total dividends = Number of Outstanding shares x Dividend per share
Q: Philly Cheesecake Corporation (“Cheesecake") operates food stands in several states and is…
A: Introduction: Taxes are necessary payments levied by a government agency, whether local, regional,…
Q: what types are frauds are possible in revenue cycle?
A: Introduction: The revenue cycle is a method of defining and maintaining the processes used for the…
Q: s and obligation assertion when auditing payables and contrast this with the audit of asset…
A: An auditor is a person or a company hired by a company to conduct an audit. A person must be…
Q: Add any values according to you petty cash statement
A: Petty cash statement is the statement in which all the expenses which are related to it and which…
Q: A real property was transferred to a revocable trust with Carding as the beneficiary. The property…
A: Gross Rentals: 900,000 Expenses attributable to the maintenance of the property: 200,000 Total…
Q: hreé products X, A company is manufacturing and Z. The following information is supplied to:…
A: The question is related to the Cost Management. The details are given regarding the same.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- The excess (deficiency) of cash available over disbursements for December would be: P40,400 P68,600 P28,200 P12,200Current Attempt in Progress Lee Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5180000 $3979520. $5180000. $6380480. $5706480. 704480 159000 337000 Lee should report cash provided by operating activities ofSmith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities of
- Requlred Informatlon RivMera Townshlp reported the following data for Its governmental activitles for the year ended June 30, 20X9: 2 of 3 Item Amount Cash and cash equivalents $1,000,000 300,000 8,500,000 1,200,000 400,000 4,800,000 Receivables Capital assets Accumulated depreciation Accounts payable 01:56:09 Long-term liabilities Additlonal Information avalable is as follows: All of the long-term debt was used to acquire capital assets. Cash of $475,000 Is restricted for debt service. Based on the preceding Informatlon, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for net assets Invested In capital assets, net of related debt? Multiple Cholce $3.300,000 $2.900,000 $2,825,000 $4.200,000In reviewing the Accounts Receivable, the Net Cash Realizable Value is __ before a write off of $1500. What is the Net Cash Realizable Value after the write off?a. $16,000b. $1500c. $17300d. $14500EB5. LO 16.3 What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets? Accounts payable, beginning of year Accounts payable, end of year Salaries payable, beginning of year Salaries payable, end of year $18,000 28,000 6,000 4,000
- 11 Compute Cash Flow from Operating Activities from the following details: Particulars Trade Receivables: Debtors CA Bills Receivable CA Trade Payables: Creditors CL Bills Payable CL L Expenses Outstanding Accrued Income CAT Depreciation on Fixed Assets No + Surplus, i.e., Balance in Statement of Profit & Loss 31st March, 2023 (R) 50,000 23,000 28,000 22,000 4,500 9,000 5,000 90,000 31st March 2022 ) 60,000 25,000 32,000 35,000 3,500 8,000 4,000 80,000TO Culate net o check if Assets equal Liabilities I cdn.student.uae.examus.n ACCT101_FEX_2021_2_Male Purpose of the Statenment of Cash Flows: 9 క్క 18 a. To calculate net income 95abe18 e18c o check if Assets equal Liabilities b. 95abe18 С. To calculate Assets turnover 95abe18ce33 d. To know where a company spends its cash abe18ce33 95a18ce33 95abe18ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro 80 F3 000 95abe1 F4 FS 48 F6 E F7 6 & DII 7 V T F9 8A 99 Cor R. IIThe following selected information pertains to Brock Company:Cash balance, January 1, 20x1 P130,000Accounts receivable, January 1, 20x1 190,000Collections from customers in 20x1 2,100,000Capital account balance, January 1, 20x1 380,000Total assets, January 1, 20x1 750,000Additional cash investment, July 1, 20x1 50,000Total assets, December 31, 20x1 1,010,000Cash balance, December 31, 20x1 200,000Accounts receivable, December 31, 20x1 360,000Withdrawals made during 20x1 110,000Total liabilities, December 31, 20x1 410,0007. Net income for the year ended December 31, 20x1
- Blossom Company reports the following information: Net income $ 539000 Depreciation expense 153000 Increase in accounts receivable 61000 Blossom should report cash provided by operating activities of $ 753000. $ 447000. $ 631000. $ 325000.Answer in 20 minutes The following information is available from the current period financial statements: Net income $126,307 Depreciation expense 23,648 Increase in accounts receivable 16,473 Decrease in accounts payable (19,595)The net cash flows from operating activities using the indirect method is a.$126,307b.$113,887c.$66,591d.$186,023S Niel, Financial Accounting, Se Hele 1 Beteen An ts Brief Exercise 12-6 Your answer is partially correct. Try again. alie balance sheets for Sheridan Company show these changes in noncash current asset accounts: accounts receivable decreased $75,100, prepaid expenses increased $28,300, and imverdories inca de t cash provided by operating activities using the indirect method, assuming that net income is $169,100. (Show amounts that decrease cash flow with either a-sign eg 15,000 or in n f Sheridan Company Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income 169100 Adjustments to reconcile net income to Net Decrease in Cash Decrease in Accounts Receivable V 75100 Increase in Prepaid Expenses 28300 ncrease in Inventories 41400 24300 et Cash used by Financing Activities 144800 Click if you would like to Show Work for this question: Qpen Show Work
