Which of the following should financial information not be? Group of answer choices Unsubstantiated Reliable Timely Accurate
Q: Catalina Corporation begins the year with a $195 balance in Retained Earnings and a $320 balance in ...
A: Stockholder's equity: It implies to the net assets (assets - liabilities) that have shareholder's cl...
Q: The retained earnings immediately after the combination is!
A: Retained Earnings immediately after the combination includes: a)Parent Company Pre combination Retai...
Q: b. Suppose that Jack also reported income of $8,800 from a half share of profits from a partnership....
A: AGI is an acronym and stands for the adjusted gross income of the taxpayer which is computed when ce...
Q: Catalina Corporation begins the year with a $195 balance in Retained Earnings and a $320 balance in ...
A: Stockholder's equity comprises of common stock and retained earnings balance.
Q: True or False Questions Statements 1. Unlike merchandising companies, income statements of service c...
A: Solution:- 1)Unlike merchandising companies, income statements of service companies include cost of ...
Q: In order to boost the sales of ABC & Co., the board of directors approved a share appreciation plan ...
A: Since the actual sales in the year 2020 are 120 million which fall into the category of 100 million ...
Q: What is the total amount that Bryant Inc. should expense during the year (versus the company capital...
A: 1. Purchased the cost of a patent from another company for $165,500- Patent is an intangible asset h...
Q: Amortization schedule. Principal Repayment [4=2-3] 88,768.32 95,869.79 103,539.37 Beginning Book End...
A: In this question answer is already given but student want to know that how beginning book value is c...
Q: pros and cons of Sarbanes Oxley (SOX)?
A: I am answering the first question out of multiple submitted questions as per bartleby guidelines. Pl...
Q: Dell Company is selling sounds and lights equipment. The company’s fiscal year ends on March 31. The...
A: Bond is a financial instrument which is issued to raise for by the large organizations. Bond offers ...
Q: Oriole Inc is considering one of three options: (1) paying a S0.43 cash dividend, (2) distributing a...
A: Total Asset- Total assets refer to the whole amount of possessions owned by an individual or entity....
Q: On December 31, 2020, Fame Company sold a 12% serial bond issue with face amount of P7,000,000 for P...
A: Bond Payable The main sources of generation liquidity into the business entity to raise the issue of...
Q: On February 28, 2022, P Corp. purchased 80% of S Co's P10 par ordinary shares for P986,000. On this ...
A: Introduction Non controlling interest means stakeholders who have less than 50 % equity and have no ...
Q: Novi purchased ABC bonds on 1/1/22 Data regarding these available-for-sale securities follow Cost MV...
A: The Fair Value Adjustment account represents the difference between cost and market value of availab...
Q: Rahim and Karim undertook jointly to build a house for a company at an agreed price of Tk. 60,000, p...
A: Answer:- Joint venture definition:- Joint venture is one of the unique type of commercial partnersh...
Q: A partnership began its first year of operations with the following capital balances: Young, Capita...
A: Profit and Loss Appropriation Account is a nominal account prepared for the purpose of distributing ...
Q: A banker is reviewing the bank's current portfolio of outstanding loans based on the following infor...
A: Times interest earned = Earnings before interest and income taxes Interest expense ...
Q: Parent Company acquired 15% of Subsidiary Company's common stock for P500,000 cash and carried the i...
A: Calculation of the amount of goodwill to be recognized.
Q: Subsidiary Company had common stock of P350,000 and retained earnings of P490,000. Parent Inc. had c...
A: Consolidated Net Assets would be calculated as Net assets of Parent Inc. before acquisition plus fai...
Q: Pharoah has 21,200, $4 noncumulative preferred shares issued. It paid the preferred shareholders the...
A: Error in accounting entry can be corrected by either reversing entry which is incorrect and entering...
Q: The partner’s capital (profit and loss ratio in parentheses) of Bob, Dex, Larry, and Rey on February...
A: The partnership comes into existence when two or more persons agree to do the business and further s...
Q: Dell Company is selling sounds and lights equipment. The company’s fiscal year ends on March 31. The...
A: Warranty is a contract between the seller and buyer of the product. Under the warranty contract, the...
Q: Before preparing financial statements for the current year, the chief accountant for Crane Ltd. prov...
A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...
Q: Which of the following is true. The firm's ultimate financial goal is to maximize its net income bec...
A: A firm's ultimate financial goal is following
Q: On January 1, 2019 Pink Corp. sold a machine for $7,400 to slink Corp., its wholly-owned subsidiary....
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...
Q: The following data refer to Solaris Power Ltd for the financial year ending 31 December 2021: Sales ...
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...
Q: Crane Electric sold $6,240,000, 10%, 10-year bonds on January 1, 2022. The bonds were dated January ...
A: Solution: When bonds are redeemed before maturity date, difference between carrying value and redemp...
Q: On January 1, 2020, B Company acquired 80% of A Company’s common stock for Php280,000 cash. At that ...
A: Net identifiable assets: Net identifiable assets include both tangible and intangible assets at the ...
Q: The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Bonita Co...
A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after dedu...
Q: Bulldogs Inc. wants to analyze its variances in its actual and budgeted operation. There is no diffe...
A: Sale price variance = (Actual sales price per unit - Budgeted sales price per unit) x Actual no. of ...
Q: On January 02, 2021, Parent Corporation purchased 80% of SUBSIDIARY Company's ordinary shares for P6...
A: The correct answer for the above mentioned question is given in the following steps for our referenc...
Q: Cullumber Electronics issues a $355,500, 3%, 10-year mortgage note on December 31, 2021. The proceed...
A: Interest = Loan amount x rate of interest x no. of months in calendar year /12 months Loan Payment =...
Q: At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant n...
A: When liability is created we credit liability account and debit the expense account
Q: When share options granted vest base on a service condition Share options outstanding balance at t...
A: What is share based transactions: Share based transaction includes granted shares, share appreciatio...
Q: The ABC Partnership shows the following profit and loss ratios and capital balances of its partners:...
A: Solution: When new partner is admitted in partnership, the partnership is reconstituted. There are t...
Q: Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August. Dann...
A: Answer) Calculation of Total cash collections in August Amount Collections in August: ...
Q: Assume that the business combination is a pooling of interests. Prepare all journal entries on Pop's...
A: Pooling of interest is an approach that is used for the purpose of reporting the financial transacti...
Q: Z Ltd.has provided depreciation as per accounting records740 lakhs but as per tax records 760 lakhs....
A: Introduction:- Differed tax asset/Liability arises where The difference between taxable income and a...
Q: Parent corporation issued on March 31, 2021 500,000 shares of its P10 par ordinary shares, P40 marke...
A: >Goodwill is an intangible assets. >It is generally recorded when it is 'purchased'. &...
Q: The carrying cost curve and ordering cost curve of Bulldogs Inc.'s inventory intersect at 3,50 units...
A: the concept of economic order quantity for me is applicable where there is ideal order quantity. is ...
Q: Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sales. ...
A: Accounts Receivable Accounts receivable is considered to be one of the main sources of revenue which...
Q: The following is a Trial Balance for Ocean Fresh PLC as at 31 December 2018: ...
A: 1. Financial Statements - Financial Statement are the statements that included income statement, Cha...
Q: er 30, 2022, AA decides to retire from the partnership. Net income of the partnership from January 1...
A: ln case of partnership there is agreement between two or more partner to share profit and losses in ...
Q: munication moving in a specific C cilitates task accomplishments. munication
A: Casual communication with another person is known as informal communication.
Q: Prepare the necessary journals for the given transactions 1. Cash paid to Sara BD 600 2. Sold Furnit...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: her sales reports and records for the months of January through August of the current year.
A: 1. sales calculation Jan = 60000+10%=60000+60000=66000 Feb =50000+10%=50000+5000=55000 March=55000+1...
Q: ly. Thank you :)
A: In this question, we have to calculate the interest income of the third year of the contract.
Q: Mama inc. offered a one-year loan to a customer client. The instrument is a discounted note with a n...
A: Discount rate (D) = 15%
Q: IFA Corporations had Net Income of $7,800,000 and the following information for January 2021 to Dece...
A: In this question, we find (a) Calculate the weighted average shares (to the nearest whole number) at...
Q: Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fa...
A: Factory overhead also called manufacturing overhead, cost incurred during manufacturing process, wh...
31
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 50. Which of the following should financial information not be? Group of answer choices a. Unsubstantiated b. Timely c. Reliable d. Accuratefinancial risk management amswer question e onlywhich one is correct please confirm? QUESTION 13 Computerized financial planning models may be classified as any of the following EXCEPT ____________. a. deterministic b. optimistic c. probabilistic d. None of these are correct
- In 3OO w0rds ex.plain the diagram below. *Ex.plain the procedures involved in the financial decision and the investment decisionQ25 Which of the following is not a source of valuation related information? a. Reports on utilization of resources b. Stock market statistics c. Board discussion papers d. Relevant economic datafinancial risk management answer question d and e only.
- Question1Thewholeoffinancialaccountingisbasedupontheverysimpleideathat,resourcessuppliedbytheownerofthebusinessplusliabilitiesthatmustbesettledatafuturedatemustbeequaltotheresourcesinthebusiness.Itfollowsthatthecapitalplusliabilitiesoftheentitymustbeequaltoassetsoftheentityexpressedas:Capital+Liabilities=Assets(i.e.C+L=A).UsingMicrosoftexcel,demonstratetheeffectsofthefollowingtransactionsontheaccountingequation,andpreparetheresultantbalancesheetasat31stJuly,2020,¢1Julystartedbusinesswithcash30,0002Salesoncash50,0004Stockofmaterialspaidbycash10,0005Paidcashintobank20,0007Withdrewcashforofficeuse10,0008Loanreceivedbycash20,00010Salesofgoodsreceivedcheque30,00019Cashsales80,00021Debtorpaidusbycash50,00030Sales,receivedcheque40,000Q2 Evaluate in terms of the framework, why it is appropriate to capitalize borrowing costs under certain circumstances?Its a npv question of finance thanks or accounting