budgeting

Q: A company recorded the following expenses at the end of the current year: Decrease in inventory P300...

A: We know that  Cost of Goods = Opening stock + Purchases - Closing Stock  Net Income = Revenue - Expe...

Q: What are the advantages and disadvantages of implementing credit scoring within a financial institut...

A: The question is related to identifcation of advantages and disadvantages of implementation of credit...

Q: The following accounts and their balances are listed below:  Prepare the first journal entry to clos...

A: SOLUTION- ALL INCOME STATEMENT INCOME AND EXPENSES ACCOUNT ARE TRANSFERRED TO THE INCOME SUMMARY ACC...

Q: Al Jabel Corporation sells WIFI speakers and offers 2-year warranty contract to customers. During 20...

A: Journal entries refers to the process of recording the financial transactions of a company in its ac...

Q: Partners' share of net income is recognized in the accounts through O a. Accrual entries O b. Adjust...

A: Partners Share of income: Before the share of income of partnership all the Accrual entries, Adjusti...

Q: Victor French made deposits of $5,200 at the end of each quarter to Book Bank, which pays 8% interes...

A: Time value of money is a concept which states that the worth of one unit of currency in today's time...

Q: How can you create a document to substantiate a mileage deduction? Mileage > Download trips ...

A:  

Q: 2. ABC Company has equipment acquired on January 1, 2018, at a cost of P2,200,000 with an estimated ...

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or chang...

Q: C, P and A are sole proprietors looking to form a new partnership. C is to contribute cash of P150,0...

A: Partnership is a form of business organization under which two or partners come into an agreement to...

Q: Which of the following partnership transactions are merely transfers of equity?  a. Southeast dies a...

A: Transfer of equity means that the share or interest of one party/entity transfers to another party/e...

Q: Question 3- Part 1   The following data is provided for Garcon Company and Pepper Company.    Gar...

A: We need calculate the cost of goods sold for both the companies :       COMPUTING COST OF GOODS S...

Q: Quickly quickly quickly i need help in 15 minutes please

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: P5.11 (LO 1, 3) You have just been hired as a loan officer for Washington Mutual Savings. Selig Equi...

A: Ratio analysis is a technique that is used by the users of the financial statement to know about the...

Q: other info is on the second pic

A: 1. Premium on bonds payable arises when the stated rate on bond is higher than its market value 2. I...

Q: Please explain it properly

A: Given: To find the capital balances as, Capital Balances of Banner = P 65,000 and Strange = P 35,000...

Q: The trial balance of Titan Company on December 31, 2018 includes the following accounts: Share capit...

A: Shareholder equity means the amount that belong to the owner of the company i.e. share holder. Treas...

Q: MC34 On December 31, 2019, the liability section of Texas Company's statement of financial position ...

A: Interest accrued on April 1, 2020 for bonds redeemed = Face value of bonds redeemed x rate of intere...

Q: In 2021, Hopyard Lumber changed its inventory method from LIFO to FIFO. Inventory at the end of 2020...

A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods sol...

Q: Good day tutors! Please help me answer this. It will also serve as my reviewer. Thanks   Requirement...

A: "Since you have asked multiple sub part question we will solve the first three question for you.  If...

Q: b) Ceria Company plans to sell 5,000 bicycle helmets at RM75 each in the coming year. Variable cost ...

A: Break even point in sales = Total Fixed costs / Contribution margin ratio = RM49500/40% = RM123,750

Q: 2. Rasheed Company uses net method to record the sales made on credit. On June 30, 2019, it made sal...

A: The journal entries are prepared to keep the record of day to day transactions of the. 

Q: Comparative balance sheet accounts of Riverbed Company are presented below. RIVERBED COMPANYCOM...

A: The question is based on the concept of Cashflow Statement.

Q: 4. Which of the following is not a component of other comprehensive income?a. Unrealized gain on equ...

A: ‘’Since you have asked multiple question, we will solve the first question for you. If you want any ...

Q: Distinguish between trend percentages and component percentages. Which would be better suited for an...

A: Differences between Trend Percentages and component Percentages: The changes in financial statement...

Q: Net sales of the Premiere General Store have been increasing at a reasonable rate, but net income ha...

A:  

Q: The 90-day non-interest bearing note amounting to ₱50,000 was issued on November 30, 2019. The preva...

A: Interest on non interest bearing bond can be calculated by charging interest on the face value of no...

Q: Kelly Company acquired an iron mine for $2,349,000.  Kelly paid a $1,000 filing fee with the county ...

A: Gross Profit = Sales - Cost of Goods Sold

Q: Due to heavy rains brought by La Niña, the management of the company is contemplating to close club ...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: The following information is available for Carter Corporation: Materials inventory decreased $4,000...

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the unanswere...

Q: Problem 13 Four Company, which maintains it inventory using the perpetual system, had the followingb...

A: Following are the adjusted balances of the given accounts 

Q: On January 1, 20x1, HYBE acquired a machine by using a 3%, P4,000,000 note due on January 1, 20x4. I...

A: The initial recognition of the note payable will be recorded at present value of payments discounted...

Q: Prepare the appropriate journal entries that should be recorded as a result of each of these conting...

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: Assume the following information for a company that produced 10,000 units and sold 8,000 units durin...

A: Calculation of variable cost per unit : Particulars  Amount (In $) Direct materials 75 Direc...

Q: Betty borrowed $200,000 at an interest rate of 10% p.a. from XYZ bank to purchase the goodwill, prem...

A: Assets are classified into two main categories namely tangible and intangible. Tangible assets are v...

Q: questoin 9 chapter 4 Assume a company provided the following information:    Service Departments ...

A: Direct method of overhead allocation means a method where overhead of support department is direct a...

Q: You have asked your sales manager to explain why budgeted revenues for your division are below expec...

A: Sales Price Variance  $30,008 Unfavorable Sales Volume Variance $10,780 Favorable Total revenue ...

Q: Can you help me calculate the amount of net income distributed to each partner asap for my homework

A: Net income is the amount earned by an entity after deducting all the outlays from the revenue.

Q: The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Departm...

A: First in first out means that any stock which is purchased first are sold out first or in other word...

Q: PROBLEM 2 - Budgets fo David, Inc. is prepari production data hav Ap Unit sales 40 Finished goods in...

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

Q: Accounting Question

A: Answer 1)

Q: Q1. Record the following transactions in a general journal for Voyageur Sports Ltd. Nov 7 Cash sales...

A: General Journal Journal is used to record the business transactions of an enterprises

Q: What is the yield on a corporate bond with a $1000 face value purchased at a discount price of $925,...

A: The annual income (interest or dividends) from an investment is divided by the current price of the ...

Q: Journalize the transactions in a merchandising business in general journal - purchase and sale. Writ...

A: The question is related to General Journal of both the companies. Aeron trading purchased goods from...

Q: The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is$60,000. T...

A: Contribution margin per unit = Sales price per unit - Variable cost per unit = $25 - $9 = $16 per un...

Q: 3. Ahmed construction began work on a $10,000,000 contracts in 2016 to construct a bridge. During 20...

A: SOLUTION- ESTIMATED TOTAL CONTRACT COST=COST INCURRED IN 2016 + ESTIMATED COST TO COMPLETE.         ...

Q: The following changes in the statement of financial position accounts of BC were gathered for prepar...

A: SOLUTION-   THE CHANGES IN STATEMENTS OF FINANCIAL POSITION ACCOUNTS OF BC ARE GIVEN . THE QUESTION ...

Q: Which account should be used to make a rent payment for a company’s office building?

A: Operation related checking account. Rent payment is an expense for company. Rent expense treated as ...

Q: Romanoff and Barton are partners with capital balance of P60,000 and P70,000. Romanoff has a 30% int...

A: Value of equipment contributed by Rogers The bonus (which equals the assets they introduce minus the...

Q: In an accretion/dilution analysis of an acquisition, if the purchase price exceeds the book value of...

A: Accretion / Dilution Analysis of Acquisition Acquisition of the companies means the taken over the o...

Q: On September 1, 2020, Bain Corp. received an order for equipmentfrom a foreign cuatomerfor 300,000 l...

A: You have posted 5 questions under a single question. As per protocol we are supposed to answer one f...

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.