. Briefly explain the major components of AIS
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A: Formula used: Adjusted balance for Insurance expense = Prepaid insurance account balance - Expired…
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A: Average Collection Period: An accounting indicator known as the average collection period is used…
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A: Investment property means land or building or part of building or land and building that is held for…
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A: Introduction Raw material consumed during the year is calculated by using the following formula Raw…
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A: The accrued interest is the interest due for payment but not paid yet.
Q: nsultancy Services, prepares financial statements to an accounting date of 31 March ch year. ring…
A: National Insurance Contrition is the payment which is to be made by the persons as per UK laws who…
Q: the weighted average number of ordinary shares outstanding?
A: Date Particulars Shares Weights Weighted average 1 January Beginning ordinary shares 480,000…
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A: National Insurance Contrition is the payment which is to be made by the persons as per UK laws who…
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A: Taxable net income for the period will include the taxable income of the fiscal year. That is the…
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A: Financial ratios are used to evaluate the performance of the business entity. These are helpful in…
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A: Revenue is the amount of money earned on account of sale of goods or rendering of services.
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A: Cost volume profit analysis is the technique used by the management for decision-making. The methods…
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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
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A: Deferred tax refers to the difference in the income as per company and as per income tax. These…
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A: Introduction:- The following Basic information as follows under:- Troy's Tire Mart has a…
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A: Question 1 and 2: 1 and 2 are the entries on acquisition date. The Investment in Silicon is…
Q: Kindly explain and give an example of Capital Gains Tax
A: Introduction:- The capital gains tax is a federal tax. It is charged on profit made from selling…
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A: The cash flow section from financing activities include the cash flow from long term liabilities,…
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A: An income statement is a financial statement that displays a company's revenue and costs. It can…
Q: Manual, what method is used in computing the ending inventory of materials and supplies? First-in,…
A: there are different methods available for valuation of the inventory is available. for most of the…
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A: Preparation of bank reconciliation statements is prepared by the management at a particular time…
Q: or the year ended December 31, 2020, Tam's records total franchise revenue in an amount of
A: Revenue to be recognised is equal to = initial amount on signing of contract + yearly revenue +…
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A: The cash budget is prepared by the management to estimate the expected cash collection and cash…
Q: At December 31, 2022, before any year-end adjustments, Dallis Company's Prepaid Insurance account…
A: Prepaid Insurance means amount paid in advance for Insurance. They are Current Assets. Insurance are…
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A: Debt to equity ratio is: =Total debts/ shareholders fund or net worth Retained earning break point…
Q: In the long-term liabilities section of its balance sheet at December 31, 2016, Welington Company…
A: Lease refers to an agreement in order to rent an asset in exchange of periodic payments. The two…
Q: a 5-year useful life and, no salv: llowing four methods of depred
A: Given as, Investment= $100, 000 Life= 5 years Percentage= 10 %.
Q: Based on the following data, what is the quick ratio, rounded to one decimal place? Accounts payable…
A: Quick ratio measures the entity's capacity to pay off its current obligations using quick assets.
Q: Labi Company reported a net loss of $13,000 for the year ended December 31, 2021. During the year,…
A: Operating activities means the procedures occurred in the daily running of the business.
Q: 1 In the statement of financial position restated to current cost, what amount should be reported as…
A: Solution Concept Inventory which are stated at historical cost means the actual purchase cost are…
Q: question 5 A record of transactions for the month of January was as follows:…
A: The inventory can be valued using various methods as FIFO, LIFO and weighted average method.
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A: Shares subscribed are the applications received for the purchase of the shares that are about to be…
Q: you think switching to an IFRS formatted balance sheet with the accounts rearranged will affect…
A: Meaning if IFRS: It is a set of accounting standards developed by the International Accounting…
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A: Introduction: A loss is defined as an increase in costs above revenues, whether for a single…
Q: AA and BB are partners engaged in a manufacturing business. Transactions affecting the partners’…
A: A partnership capital account is a distinct account that shows the equity in a partnership that is…
Q: Co. is funded by both debt and equity with a debt to equity ratio of 100%. If Co. has a retained…
A: The amount which a company can raise during a particular period without making any alteration to its…
Q: 1. A supervisory employee has the following benefits: 13 month pay and other benefits De minimis…
A: The additional benefits offered to employees apart from the pay are fringe benefits.
Q: Sandvik Mining uses a periodic inventory system. One of the company’s products is a special…
A: First in first out method: Under this method the inventory purchased first will be sold first. And…
Q: Question. A calendar-year taxpayer spends $10,000 in December on a file server and peripherals. The…
A: Straight-line depreciation is the depreciation method for recognizing the carrying amount of a fixed…
Q: Aaron Cousins is a self-employed VAT consultant. Aaron's business, Bruins VAT Consultancy Services,…
A: National Insurance Contribution by a Self employed person is contribution which is been paid by…
Q: In the consolidated statement of comprehensive income to be prepared by the parent corporation,…
A: A business combination is defined as an entity obtaining control of one or more businesses. The most…
Q: Japer Ltd is a retailer and has the following transactions in the quarter ended 31st March 2022…
A: Credit of tax paid on inputs is available only if tax is paid on supplies.It means credit of tax…
Q: Sisig Corp. purchases a building with land at a cost of P100,000,000. In the sale and purchase…
A: Investment property is the capital assets that are used to earn rental income or capital…
Q: he following information is available from the current period financial statements: Net income…
A: Operating cash flow refers to the amount of money a company produces from ongoing, regular…
Q: What are the formulas that were used here?
A: If the rate of return and the periodic payment do not vary, the future value of an annuity can be…
Q: question 4 ABC Company purchased equipment on May 1, 2021 costing $1,000,000. Its estimated salvage…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
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A: The net income before tax can be computed from net income after tax using rate of income tax.
Q: 3ournalize thhe transaction for the purchase of a truck on April 4 for $61,420, paying $5,800 cash…
A: Account Payable: - Account payable refers to the amount of money that a business owes its suppliers…
Q: (c) Make at least three (3) specific recommendations to the management of Dee Corporation that would…
A: The answer is stated below:
Q: Prepare a departmental flexible overhead budget for 30,000 machine hours and for 40,000 machine…
A: A flexible budget adjusts to changes in actual production levels. Actual production or other…
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