How is the account Accounts Payable classified and what kind of balance should it have? Group of answer choices current liability, debit current liability, credit revenue, debit revenue, credit

Q: Projected benefit obligation 5,500,000 Unrecognized actuarial gain 850,000 The transactions for the…

A: The practice of assessing a long-term amount reliability or foreign exchange in a financial…

Q: A balance sheet for the QRS Partnership, which shares profits and losses in the ratio of 5:3:2 shows…

A: Partnership: - When two or more persons enter into an agreement for setting up a business, run it…

Q: On May 1, 2022, Carlo has been in a trading business for five years as a sole proprietor. He needed…

A: A partnership is an agreement between two or more individuals whose objective is to operate and…

Q: Sunstar Manufacturing Company produces special kitchen utensils using the JIT system.   Transactions…

A: The cost of goods sold is the sum of all expenditures involved in the manufacture of a sold product…

Q: What is the variable cost per unit for National Company?

A: Variable costs are those costs which changes with changes in level of activity. For example,…

Q: What is the systematic periodic transfer of the cost of a fixed asset to an expense account during…

A: It is a measure of the wearing out, consumption or other loss of value of depreciable asset arising…

Q: Mr Price, has no debt outstanding and a total market value of R150,000. Earnings before interest and…

A: The repurchase of shares by using debt will decrease the shares outstanding and will increase the…

Q: Assuming sales of 10,000 units are achieved, and the new wage settlement is never agreed, calculate…

A: In order to determine the profit, the variable cost and fixed cost are required to be subtracted…

Q: company is using target costing to establish whether it needs to redesign a proposed product.  The…

A: Desired profit margin=25% Sale price unit: £125 Desired profit: £125*25%= £31.25 Cost for desired…

Q: What are journal entries called that bring the accounts up-to-date at the end of the accounting…

A: Adjusting entries are those which are made at the year end after trail balance is prepared. Purpose…

Q: A Statement of Financial Position for the partnership of John, Paul and Ryan, who share profits in…

A: For calculation of Theoretical losses in the first month of liquidation We need to calculate the…

Q: E12-6 Joe Keho and Mike McLain share income on a 4:2 basis, respectively. They have capital Recc…

A: The journal entry is the first step of the accounting process because when a transaction arises it…

Q: Prepare Strange Things cash budget for the months of October, November, and December showing all…

A: Cash budget is one of the important budget that is being prepared in business and it shows expected…

Q: Elswick Products, Inc., is a merchandising company that sells binders, paper, and other school…

A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…

Q: Rob contributed P30,000 cash, a tract of land, and delivery equipment. Joe contributed P60,000 cash.…

A: It is an agreement made formally between two or more persons to operate and manage business with a…

Q: Celine's Scooter Supply Ltd. Quarterly Income Statement Units Sold Price per Unit Total Revenue…

A: To fill this table formula required 1). Total revenue = Units sold * Sales price per unit 2). Total…

Q: Required information CP2-2 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing a…

A: The answer for the question on a classified balance sheet is discussed hereunder : Both the totals…

Q: Delta Company produces a single product. The cost of producing and selling a single unit of this…

A: Introduction: The selling price of goods or services is the seller's final price, or how much the…

Q: S1: When you post an inventory transfer from warehouse 02 to warehouse 01, the system creates an…

A: Inventory Transfers are used to move stock between warehouses. The Inventory Transfer documents…

Q: What was the most fundamental aspect of accounting?

A: The activity of maintaining track of a supplementary ledger is known as accounting. Accounting…

Q: On May 1, 2022, Carlo and Jamie formed a partnership by contributing ₱500,000 each. In addition to…

A: The non cash assets invested by partners are recorded at fair market value.

Q: Original cost of a machine was Rs. 2,52,000; Salvage value was 12,000. Useful Life was 6 years,…

A: Lets understand the basics. In straight line basis, depreciation is calculated in equal installment…

Q: Carlo invested the following in the partnership being formed with Jamie: • Cash of P60,000; • Land…

A: Partnership means the agreement between the two or more person to do the business together and share…

Q: he cost of installing equipment for electronic component immersion cooling is P182,000, with a…

A: Depreciation is the allocation of cost of asset over the useful life of asset. Under declining…

Q: Special Ice Water Ltd is a manufacturer of various products including one that is marketed as Pure-…

A: As per Bartleby guidelines, in case of multiple questions, we are only allowed to answer the first…

Q: Calculate the capitalized cost of a project with a P3,000,000 beginning cost and an extra P850,000…

A: Capitalized cost would be present value of all cost that are going to occur in future course of time…

Q: A According to shankman(1999), two features make agency relations special. One of this is inherent…

A: One of the features of a special relationship represents the conflict of interest between…

Q: What are the 7 advantages of using a special journal? give brief explanation of the each.

A: Introduction:- The special journal is the general entries of such transactions that are required to…

Q: Baden Company has gathered the following information. Units in beginning work in process 0 Units…

A: Equivalent units of productions material  conversion cost 37000 units 65600 units   Unit…

Q: What is the basic equation underlying the income statement?

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

Q: 3. PT Kawi Sejahtera is faced with the choice of Projects A and B with the following information on…

A: NPV method: NPV of the project is = PV of cash inflows - PV of cash outflows Under NPV method,…

Q: On January 1,2020, Carlo and Jamie formed a partnership with investments of P160,000 and P240,000…

A: In partnership, profits and losses from conducting the business are shared by the partners in their…

Q: anies Act

A: The Companies Act 2013, which was passed by Parliament, received the President's assent on August…

Q: Carlo invested the following in the partnership being formed with Jamie: Cash of P60,000; ● . Land…

A: In consideration of the above information, Cash is P60,000; P200,000 in land having a P410,000…

Q: Which of the following is NOT true about the statement of financial position of a partnership? O…

A: Partnership means where two or more partners agree to do the business jointly and share profit and…

Q: Which of the following would increase risk?   a. Raise the level of working capital b. Increase the…

A: The working capital is the funds it needs to carry out day-to-day operations like cash, accounts…

Q: a. partner's limited liability to partnership asset

A: Partnership is a business form where the two or more individuals agree to carry a business and share…

Q: How to journalize the entry for december 31?

A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…

Q: Assignment 6 - Adjusting Entries, Malinaw Photography was established by Alex B. Malinaw on Oct. 1,…

A: Adjusting entry means where some adjustment need to be made at the end of specified period for…

Q: nd loss shar

A: In case of liquidation of partnership business , all non cash assets are sold and the proceeds from…

Q: urselves and our choices against God's will and against the good of others. It has painful…

A: Sin is any action that is considered unlawful in the eyes of God. Sins are immoral acts that bring…

Q: Company. has been reviewing its total cost over the last few weeks and has established the…

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

Q: Which of the following obligations below is not included among the lawful obligations of a partner…

A: Meaning of partnership: Partnership is group of two or more persons who agreed to contribute the…

Q: E12-8 Dale Nagel, Keith White, and Dan Neal have capital balances of $60,000, respectively. They…

A: Introduction: Business transactions are recorded in chronological sequence. The first step in…

Q: A company has assessed the profitability of its three products as shown here: Product A Product B…

A: In the given question, product C is a loss-making product. Currently, the company is earning a loss…

Q: Teduie Construction made an investment in a machine that is used for road construction two years…

A: Economic service life alludes to the length of usable life that limits an asset's identical yearly…

Q: Problem 3. Three Guards Corporation computed the following items from its financial records for the…

A: Formulas: Price-earnings ratio = Market price per share / Earnings per share Payout ratio = Dividend…

Q: Which corporate taxpayer is not subject to regular income tax?     Resident foreign corporation…

A: Domestic corporation is subject to text on its worldwide income on the other hand foreign…

Q: In the absence of agreed profit distribution among partners, the most equitable way to distribute…

A: The net income from partnership business is allocated to each partner in the profit sharing ratio…

Q: ____ are held for the purpose of meeting short-term cash commitments rather than for investment or…

A: Short term highly liquid investments that are readily convertible into  known amounts of cash and…