Which of the following is a reserved activity for which ICAEW is a recognised professional regulator? Actuarial Procure Management consultancy Corporate treasury

Q: A taxpayer (payor ex-spouse) is required to pay an ex-spouse (recipient ex-spouse) alimony of…

A: Serial no. Deductible by payer Includable by recipient a $0 $0 b $12,000 $12,000 c $0 $0

Q: 3) Prepare a Statement of Retained Earnings for the year ended December 31, 2021

A: Statement of retained earnings is the part of balance sheet. To prepare the statement need the…

Q: One of Susan's favorite things in the whole world is her grandma's banana bread. Susan has become so…

A: Lets understand the basics. When there is scare of resources and more than one alternatives…

Q: The local shampoo market is dominated by two brands: Clean Hair, which owns 53% of the market, and…

A: Formula used here:-  All over market share of the All-Over Shampoo = All over unit sales/Total…

Q: prepare an Income Statement (multi-step), Statement of Comprehensive Income and Statement of…

A: A multi step income statement is the statement which is just like the normal income statement but…

Q: How much discount interest will there be if $12,500 is due at the end of 3 years with a 12% discount…

A: Concept of calculating the present  value Calculation of Present Value  Formula for Calculation of…

Q: Tuition and fees for Northern University were assessed at $22,000,000 $1,600,000 of the amount due…

A: Accrual Concept of Accounting :— According to this concept, Revenue or expenses are recorded as…

Q: The following data apply to Diva Corporation for the year 2006: Total variable cost per unit P3.50…

A: SELLING PRICE : = VARIABLE COST PER UNIT / (SALES % - CONTRIBUTION MARGIN %) = P3.5 / 0.70 = P5

Q: During the current year, Mr. X sold a building he bought in 1986 to XY Corporation for use in its…

A: The correct answer is option - A) $35,000 short term capital gain .

Q: Assume that the payroll record of Riverbed Oil Company provided the following information for the…

A: Payroll Register, like Display Statistics in the accounting module, is a month-by-month transaction…

Q: The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the…

A: Variable Cost :— Variable Cost are those cost which is varry on per unit basis. variable cost is a…

Q: Only Part B please and thank you! E2.20 Business Combination Versus Asset Acquisition As part of a…

A: When one entity obtains control of one or more businesses, this is referred to as a business…

Q: identify whether Ursula's comments are accurate or not accurate A. (1) Accurate; (2) Not accurate B.…

A: B . (1) Not Accurate; (2) Accurate Ursula has no personal assets or income separate from her…

Q: Effect of Stock Split Willey's Grill & Restaurant Corporation wholesales ovens and ranges to…

A: The stock split refers to dividing the existing common shares into more shares. The stock split…

Q: Questions 6 and 7 are based on the following: On December 31,2018 A, B and C formed a partnership…

A: Solution A partnership is a contractual agreement between two or more partners with the aim to…

Q: Outline the technical benefits of a conceptual framework. What problems could occur if accounting…

A: Accounting Conceptual framework is a body of interrelated ideas and fundamentals that provide a…

Q: What are the proceeds of a $125,000 loan at the end of 4 years if the simple discount rate is 9%?

A: Time value of money :— According to this concept, value of present money is greater than the value…

Q: onsider the following information for Sanchez Corporation for the year ended December 31, 2022.…

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

Q: Equipment acquired on January 8 at a cost of $168,000 has an estimated useful life of 18 years, has…

A: Depreciation :— It is the reduction in the value of asset due to continuos use of the assets.…

Q: QUESTION 1 Josephine Brain is going to open her fashion store. Comparing the pros and cons of…

A: Companies, individuals, and firms can buy from other businesses. Before buying a business, they…

Q: The purchase price for an acquisition is $5,000,000. The buyer pays $15,000 for lender required…

A: Capital expenditure refer to that expenditure which is incurred by a business for its long term…

Q: Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $130 million of 8% bonds, dated…

A: BOND  Bond Is a Security which is Issued by the Companies and Government to generate fund for…

Q: Elements of financial statements are prescribed by the Conceptual Framework of financial accounting.…

A: Elements of the financial statement include: Assets Liabilities Owner's equity Revenue/gains…

Q: The Shoe Factory produces two types of shoes: Walking and Running. The following budgeted…

A: Overheads means all indirect costs being incurred in business. Under traditional costing method,…

Q: WINTER WHOLESALE COMPANY BEGAN OPERATIONSON AUGUST, 2021. THE FOLLOWING TRANSACTIONS TOOK PLACE…

A: A Journal Entry is used to record a business transaction in the accounting records of a business in…

Q: Valdosta Company is working on its costing information for January.   Using normal costing, they use…

A: Production processes involve multiple processing phases. Different expenses will be associated with…

Q: Dividends per share Lightfoot Inc., a software development firm, has stock outstanding as follows:…

A: Dividend is a reward given by the company to its shareholders. It can be in the form of cash or…

Q: Net Position 2019 ensions $ 133,000 55,500 4,500,000 1,301.000 5.989,500 160,000 $5.629.500 lowing…

A: Journal entries refers to the concept of noting all the day to day activities of a company and also…

Q: The following transactions of Jaya Mart occurred during the month of September 2021: Transactions…

A: a) Date Account Debit (RM) Credit (RM) 2021-09-01 Cash 10,000…

Q: Question 15-(C) EXCITE Pte Ltd manufactures game consoles at 500 units a month. Demand is 250 units…

A: Optimal Order Size :— It is the number of units that must be order at a time for minimum cost. It is…

Q: Elements of financial statements are prescribed by the Conceptual Framework of financial accounting.…

A: Elements of the financial statement include: Assets Liabilities Owner's equity Revenue/gains…

Q: Using the updates of accounting standard, AASB 13 Fair Value Measurement. A senior partner at your…

A: AASB 13 Fair value Measurement AASB 13 establishes a uniform framework for determining fair value…

Q: Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,200 $…

A: The Cost of Goods Manufactured is the total manufacturing costs of goods that are finished during a…

Q: Accounting Grady received $8,320 of Social Security benefits this year. Grady also reported salary…

A:

Q: Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2020. As of that…

A: Journal - A journal is a thorough account that documents all of a business's financial activities.…

Q: Briefly discuss how would you determine the taxable income of farming operations..

A: The taxable income is the income on which the tax is calculated. The taxable income is calculated by…

Q: 18. DSP Company earned P100,000 on sales of P1,000,000. It earned P130,000 on sales of P1,100,000.…

A: Contribution Margin :— Contributions Margin is the Difference Between the Sales and Variable Cost.…

Q: 9. On January 1, 2016, AB and QR agreed to form a partnership. The following are their assets and…

A: Partnership - A partnership is a type of company where several people share ownership and some…

Q: 16. Hat Co. manufactures a western-style hat that sells for 10 per unit. This is its sole product…

A: Introduction:- Break even point, means where no profit or loss. Contribution margin per unit means…

Q: Problem# 6 The WATSONS Company estimated Department A's overhead at P255,000 for the period based on…

A: Excess of overhead applied than actual overhead for production is called over overhead and under…

Q: On June 1, 2015, DAVE and MAR are combining their separate business to form a partnership. Cash and…

A: Solution Partnership is an agreement between two or more persons with the aim to share profit or…

Q: B) Can the government revoke the real property and income tax exemptions enjoyed by non-stock,…

A: Not-for-profit organizations (NPOs) in the Philippines are frequently set up as "non-stock…

Q: 13. Asher Company manufactures fans with direct material costs of P10 per unit and direct labor of…

A: Break-even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…

Q: Identify the order of the five steps in the revenue recognition process. BE3.1 (LO 1), K Number the…

A: Revenue should be recognize as and when it has been earned  and amount can be measured not when it…

Q: Wharton, Inc., pays income taxes on capital gains (including gains on marketable securities) at a…

A: Marketable securities are not the restricted securities and therefore it can be bought and sold on…

Q: Which of the following activities should the internal audit function NOT be involved in? a.…

A: Lets understand the meaning of internal audit here. Internal audit is a auditing design for the…

Q: On April 1, Year 1, Greenway Corporation issues $20 million of 10%, 20-year bonds payable at par.…

A: Bonds: - Bonds are loan agreements between the bond issuer and an investor, in which the bond issuer…

Q: Please provide answer in text form (Not in image) , it would be easy to copy Please answer in the…

A: In the accounting cycle, first journal entries are recorded by rules of debit and credit. After…

Q: A) Can the government tax its own agencies or instrumentalities? Explain.

A: Government agencies and instrumentalities are the extension of the government itself.…

Q: 1. A. B. C. Which of the following is an example of a company: Corporation Association Joint-stock

A: Shares - Every share that the company issues has a minimal base value, or par value, which is the…