Explain what you understand by Budgets, Fixed budgets and Flexible budgets in the context of control and performance evaluation of an ORGANIZATION OF YOUR CHOICE.  Answer includes illustrations and detailed explanations using any organization

Q: Costing Booklet.pdf returned back to stores as being not suitable. A material transfer note issued…

A: Total Cost- The total cost concept is used to calculate the average and marginal cost. The average…

Q: Before a person may be appointed as a director, they must? O a Consent but the consent need only be…

A: Condition For Appointment of Directors:— 1]. Every Directors shall be appointed in the General…

Q: Lang Company began operations in Year 1. During its first two years, the company completed a number…

A: The journal entries are prepared to record day to day transactions of the business on regular basis.…

Q: What are some of the processes in accounting such as the accounting equation, the ledger general,…

A: Disclaimer: "Since you have asked multiple questions in a single question we answered the first…

Q: Provide a breakdown of a banking institution's sources of revenue and categories of expenses

A: Banking institutions are one of the key financial institution of the economy. They primarily receive…

Q: The credit analyst for Mazibuko Limited has established the following data relating to the working…

A: Formula for Cash Conversion Cycle  DIO + DSO - DPO WHERE,  DIO= Days of Inventory Outstanding  DSO =…

Q: On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the…

A: Adjusting entries are made to accurately allocate income and expenditures to each accounting…

Q: calculations listed below. • Calculate the value of ending inventory under full or absorption…

A: Full (absorption) costing:   Full cost per unit:   Direct material 0.6 Direct labor 1…

Q: Question Number 2: [CLO5, PLO3] A $10,000 certificate of deposit earns simple interest of 8 percent…

A: Interest In economics and accounting, interest is defined as the amount paid by the borrower over…

Q: What Are Liabilities and Equity?

A: includes assets, liabilities, equity (equity), short-term loans, long-term loans, and other relevant…

Q: Many OPTIONS 10,000 shares of the ordinary stock of the Travis Company have a P10 par value. The…

A: The stock split is a method of increasing the number of outstanding shares and decreasing the market…

Q: REQUIRED: a) Prepare the journal entries to record the above transactions. Use the account titles…

A: Journal is the book that records all business transactions, in journal transactions are recorded…

Q: TRIAL BALANCE

A: A trial balance is a statement that shows either the balance or total amount of debit and credit…

Q: Panamint Systems Corporation is estimating activity costs associated with producing disk drives,…

A: Calculation of total number of machine hours : Products Machine Hours Disk drives…

Q: resented below are balances taken from the books of Zodiac Corporation: Ordinary Share Capital (P25…

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

Q: Quill Industries uses the aging of accounts receivable method. Its estimate of uncollectible…

A: Introduction: A bad debt expense is recognized when a receivable is no longer collectible because a…

Q: the beginning of each month, $200 is deposited into a retirement fund. The fund earns 6% annual…

A: Compound Interest: It is the amount which is included in the principal amount year to year till its…

Q: On January 1, 20x1, Zevrek Co. issues bonds with face amount of ₱4,000,000 for ₱4,100,000. The bonds…

A: INTRODUCTION: Retirement is the point in life when a person decides to stop working permanently. The…

Q: al, trial balance, income sta are important. fit and loss in a business

A: Trial balance refers to a document which reflects all the compiled entries of ledgers into the…

Q: The hypothetical company XYZ Inc started its operations in 2020. On December 31 2020, it had the…

A: Since,Accrual basis of accounting is generally followed .Here,it is assumed that a particular amount…

Q: Jasmine transferred land she held as an investment (fair market value $140,000; basis $110,000) in…

A: Given, Land held as investment which means land is a capital asset. Fair market value of land= $…

Q: 1. Discovered that manufacturing equipment was being amortized using a 9% declining balance basis,…

A: We have to analyze the case whether the change in depreciation/amortization rate of machinery is…

Q: 2. ABC, Inc. has the following information related to the pension plan. Beginning of the Year 2025…

A: Here discuss about the details of the pension related amortization cost which are incurred for the…

Q: What lump sum investment will grow to $58, The lump sum $ invested at 6%, compounded annually, grows…

A: Here discuss about the details of the calculation of compound interest which are calculated in…

Q: Select whether each of the following would appear on the income statement, statement of owner's…

A: The financial statements of the business includes income statement and balance sheet and statement…

Q: CHOICES A. Only Statement I is correct B. Only Statement II is false C. Statements II and III are…

A: The question relates to three statements to be identified as true or false in relation with Long…

Q: M carrier routes are you choosing, with how many coupon drops – once a month…? (Note: Coupon…

A: Redemption rate refers to the concept of determining the conversation rate of how much the sales…

Q: Financial Self-Interest Threa

A: A threat is a situation when an auditor depends upon the client for the huge fees and has a direct…

Q: 4. Assume for US bank the interest rate on loans is 10% and on Treasury bonds 8%. The interest rate…

A: Transactions Asset  Liability Impact on income Expense Profit 1. Britt deposited 200$ in checking…

Q: On Jan 2, 20X1, ABC acquired 20% of the 400,000 ordinary shares of Yellow Co at P30 per share. The…

A: Equity method is appropriate when a company holds between 20% to 50% of the voting stock of another…

Q: A company had stock outstanding as follows during each of its first three years of operations: 3,000…

A: The dividend is a method of distributing profits among shareholders. The preference shareholders…

Q: Pina corp holds 100 percent of the common stock of Tina corp, an investment acquired for P520,000.…

A: Consolidated balance sheet will be prepared by the entity when it was having subsidiaries or many…

Q: The hypothetical company XYZ Inc started its operations in 2020. On December 31 2020, it had the…

A: Balance sheet is an important part of accounting.It shows the company's current status whether it is…

Q: Item Cash Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20x8, for…

A: Consolidated financial statements prepared by an company where it has subsidiaries or divisions…

Q: Prepare a ledger, trial balance, and prepare adjusting entries

A: The following points are to be kept in mind while preparing entries, ledger and trial balance: 1.…

Q: Fringe benefits include all of the following except:

A: A fringe benefit is a noncash benefit given to the employees of the company by the employer in order…

Q: Instructions The following equity investment transactions were completed by Romero Company during a…

A: A journal entry is used to disclose a business deal in a company's accounting records. A journal…

Q: Since about January 2, 2020, Mandan, Emeril, with Fontenot's partnership had the following capital…

A: Partnership refers to the agreement which is formal in nature and two or more person join together…

Q: Al makes a single product that it sells for $10 per unit, fixed cost are $48,000 per month and the…

A: The margin of safety is part of cost volume profit analysis. It indicates the actors of actual sales…

Q: Flint Corporation issued 1,900 shares of stock.

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: You would rather have a tax deduction thana tax credit of equal size. Ture False A large tax refund…

A: FALSE Tax Credits and Tax Deductions both help in reducing the amount of income tax to be paid by a…

Q: ABC Company acquired all of XYZ Corporation's assets and liabilities on June 30, 20X1. XYZ reported…

A: Net Assets: Net assets are what a company owns wholly less what anyone owes. In other terms, net…

Q: How much is the income tax payable assuming the taxable year is 2021?  a. 330,000

A: Corporate tax is the tax liability calculated on the income earned by the company. It is reported…

Q: On 01-4-2017, Kevin Limited issued 6000, 11% debentures of $100 each at Discount of 5%. All the…

A: Introduction: Journal entries are used to record financial transactions. You enter transaction…

Q: Walmart Inc (WMT) has the following excerpts from their financial statements       January 31,…

A: It is given that :Gross Receivables, Jan 31, 2021: $7,421 Million Gross Receivables, Jan 31, 2022:…

Q: The following financial information is from Bronco Company. All debt is due within one year unless…

A: Current liabilities are the short-term obligations. These are to be repaid by the entity within the…

Q: II Analytical 3. Suppose on Monday a person deposits $800 in a Friendly Bank out of $1000 the person…

A: INTRODUCTION: Assets - Assets are the company's resources that allow it to create profits. Assets…

Q: Cardinal uses the high-low method of estimating costs. Cardinal had total costs of $26,450 at its…

A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…

Q: Draaksh has budgeted sales of $8.7million for the next fiscal year. what is the companys margin of…

A: Given that, Contribution margin ratio = 54.55% Breakeven point sales in dollars = $4,703,208 or…

Q: a. Journalize the following transactions: i. ii. iii. iv. V. vii. viii. January 10. Received cash…

A: A journal entry is the process of recording or maintaining track of any financial or non-financial…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.