Classify each of these items as an asset, liability, or equity. I need "Share Capital - Ordinary" Choose... "Accounts receivable" "Utility Expense" Choose... Choose...
Q: Cost of ending inventory b. Calculate the cost of goods sold using the LIFO (en Cost of goods sold
A: LIFO (Last in first out) It is an accounting method to record inventory and finding cost of goods…
Q: When preparing the Statement of Cash Flow using the indirect method for the current year, which of…
A: Cash Flow From Investing Activities Cash flow from investing activities refers to cash inflow and…
Q: March 1 Invested OMR 10,000 as capital March 3 Purchased office furniture for OMR 3,000 from Blossom…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost…
A: The revenue and spending variance is the difference between actual results and flexible budget data…
Q: find the amount of money owed at the end of four years if 60,000 is well at 5% per year compounded…
A: Future value refers to the amount of money which is owed by the person after a time frame on an…
Q: Jasin Company projected operating income ( based on sales of 450,000 units ) for the coming year as…
A: The break even sales are the sales where business earns no profit no loss during the period. Break…
Q: Problem 3-26 (Algo) Return on assets analysis [LO3-2] In January 2009, the Status Quo Company was…
A: Return on Asset=Income after taxesTotal Assets
Q: What is the asset turnover for 2021
A: Assets Turnover:— It is the Ratio between net sales of the company and Total Assets of the Company.
Q: How much is the income tax still payable or due?
A: Taxable income is calculated after deducting all the losses incurred in the current year as well as…
Q: Which of the following inventories would a company ordinarily hold for sale? O a. Work in process.
A: Inventory- An essential current asset for a manufacturing company is its inventory. The tangible…
Q: Cash $655,500 759,000 Marketable securities Accounts and notes receivable (net) 310,500 Inventories…
A: Working capital is the amount of capital needed for daily operations of the business. This is…
Q: Research and development costs are classified as: O a. Inventoriable costs. O b. O c. O d. Product…
A: Cost is the amount of money incurred for running the daily business operations. It can be either…
Q: During May,the Friendly Resort had income of $10,000 and expenses of $4000.The owner withdrew $800…
A: Owner equity represents the owner's investment in the business minus withdrawal from the business…
Q: A company reports earnings per share on common stock of $2.00 when the market price of per share of…
A: The price earning ratio, also known as P/E ratio or PER is the ratio of a company. Share price to…
Q: Number of Preferred Shares Value of Preferred Shares Total Value of Preferred Stock Dividend Rate of…
A: The rate of dividend is calculated by dividing the total dividend by the total par value of the…
Q: If the economy is expected to enter a period of strong growth, which of the following would be the…
A: As per the guidelines, only one question is allowed to be solved. Please resubmit the questions…
Q: Using the information below, calculate the cost of goods manufactured for the period: Beginning Raw…
A: Cost of Goods Manufactured = Ending Finished Goods Inventory + Cost of Goods Sold - Beginning…
Q: Under accrual-basis accounting,sales made on credit are usually reported as: A.liabilities…
A: There are two type of bases used in accounting purpose. One is cash basis of accounting and other is…
Q: National Inc., a corporation that can only legally issue ordinary shares with par value, recently…
A: The dividend can be paid by the business in various forms as cash or stock dividend. The stock split…
Q: Sarah moves to Germany on July 15. Of the current year, she is 35 and has lived in Canada all her…
A: The legal position of a foreign national in a country where he or she is not a citizen is referred…
Q: Cash $655,500 Marketable securities 759,000 Accounts and notes receivable (net) 310,500 Inventories…
A: Working capital is the amount of capital needed for daily operations of the business. This is…
Q: If the prime cost is 87 000$ and direct labor cost is 52 000$ than direct material would be: O a. 87…
A: The sum total of Direct Material cost and Direct Labor cost used to manufacture a product, is known…
Q: Jasin Company projected operating income ( based on sales of 450,000 units ) for the coming year as…
A: Number of units to be sold to earn an desired operating income = (Fixed cost + Desired operating…
Q: Financial accounting is the primary source of information needed for decision- making, planning, and…
A: There are several fields or branches of accounting in practice. One of them is financial accounting.…
Q: The fundamental characteristic of the corporateform of business organization that gives rise to the…
A: Answer:- Correct option is A.the seperation of ownership and control
Q: ABC Company reported net income and retained earnings for a two-year period as follows: 2020 2021…
A:
Q: 2020 2019 Net sales........ Total Expense..........….…..….….. P2,200,000 P2,000,000 1,998,000…
A: Formula used: Difference amount = 2020 values - 2019 Values. Deduction of 2019 values from 2020…
Q: 3. REQUIRED (a) One-fifth of loan due on 30 June 2020. (b) Prepare the statement of financial…
A: Statement of financial position is also known as balance sheet, which shows all assets, all…
Q: Windsor Leasing Company signs an agreement on January 1, 2020, to lease equipment to Cole Company.…
A: Journal entries should not be used to record routine transactions such as customer charges and…
Q: John and Saah met at law school and decide to start a small law practice after graduation. They…
A: Disclaimer: "Since you have asked multiple questions in a single question we answered the first…
Q: 7. Y Corporation, a family-closed corporation, had the following selected data for 201A, the…
A: Introduction: An accumulated profits tax is a federal government tax levied on businesses that have…
Q: ABC prepares statements on the cash basis. The balance sheet as of December 31, 2021 and income…
A: Profit should be calculated on accrual basis of accounting 1) Depreciation expenses for the year =…
Q: es Given the following: January 1 inventory April 1 June 1 November 1 Number purchased 37 57 47 52…
A: Since the method "first in first out" is followed the closing inventory would include those…
Q: F Enterprises is evaluating whether to do a either a restricted or relaxed investment policy on…
A: The Return on Equity is calculated with the help of following formula Return on Equity = Net Income…
Q: At what amount will Mills report its investment in the December 31, 2021, balance sheet?
A: Premium on Bond's :— It implies that Face Value of Bond is Less than Carrying Value Or Market Value…
Q: Which of the following factors would weaken corporate governance? A.Ensuring that the rotation of…
A:
Q: Units Cost Beginning inventory Purchase (April 3) Sale (April 10) Purchase (April 18) Purchase…
A: LIFO is last in first out inventory valuation method which says that inventory which is purchased…
Q: On January 1, 2010, Gallant Company entered into a lease agreement with Blacksheep Company for a…
A: Calculation of Present Value of minimum lease payments: Payment Date Year Lease Payment Discount…
Q: Use T-accounts and prepaid insurance listings to help you with this exercise. During its first year…
A: Prepaid Expenses - Prepaid Expense are the are the Expense which are paid in the current year but…
Q: The selling price per unit is OMR 13. The above figures are for an output of 85,000 units, the…
A: Contribution is the excess of sales over variable cost.
Q: On January 1, 2010, Nueva company, acting as a lessor, leased an equipment for ten years at annual…
A: Introduction: Lease is an arrangement between two parties wherein the owner of the assets allows…
Q: Units Beginning inventory Purchase (April 3) Sale (April 10) Purchase (April 18) Purchase (April 23)…
A: Under lifo method of inventory units came in last will be sold first. In perpetual method inventory…
Q: Gavin invested $42,000 in the Jason and Kelly Partnership for ownership equity of $42,000. Prior to…
A: Admission of New Partner: In the absence of any other agreement, the only way for the business to…
Q: Varto Company has 12.200 units of its product in inventory that it produced last year at a cost of…
A: Solution: In order to perform Sell as is or process further analysis, we should compare incremental…
Q: Dimitri Designs has capacity to produce 30,000 desk chairs per year and is currently selling all…
A: Introduction: In the decision making, incremental cost plays a vital role in assessing whether a…
Q: This year Evans graduated from college and took a job as a deliveryman in the city Evans was paid a…
A: The Internal Revenue Service [IRS] is the taxation authority in the USA. As per…
Q: Jasin Company projected operating income ( based on sales of 450,000 units ) for the coming year as…
A: Break-even is the point wherein the entity is in a situation of a no profit and no loss. The entity…
Q: Brody Inc. is currently selling a product at P20 per piece. The income statement for the current…
A: Income statement: The income statement shows the company's revenues and expenses earned during the…
Q: Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse…
A: Admission in Partnership Firm: In the absence of any other agreement, the only way for the business…
Q: REQUIRED (a) (b) Prepare the statement of financial performance for the year ended 30 November 2019.…
A: Statement of financial performance shows net profit or loss made during the particular period. This…
Step by step
Solved in 2 steps
- “Cash float” would be which type of account? a.Expense b.Current asset c.Proprietary d.Fixed asset e.Current liabilityDirections: Fill in the following table using the equation: ∆Cash = - ∆Noncash Assets + ∆Liabilities + ∆Stockholders Equity. Indicate the name of the noncash asset, liability, or equity account affected by the transaction and if change in cash is classified as operating (O), investing (I), financing (F), or noncash (NC). The first line has been completed for you as an exampleItem∆Cash = - ∆Noncash Assets + ∆Liabilities + ∆Stockholders Equity1. Prepaid office rent for cash -O = - + Prepaid Rent + + 2. Sale of land held for cash = - + + 3. Cash payment of taxes payable = - + + 4. Issue preferred stock to investors for cash = - + + 5. Purchase equipment that is financed directly by the seller = - + + 6. Paid cash dividend = - + + 7. Pay notes payable = - + + 8. Pay interest payable = - + +_______ ratios are used to measure the speed in which various assets are converted into sales or cash. A Debt (aka Leverage) B Efficiency (aka working capital) C Profitability C Coverage
- The factor payment for the use of financial capital (loans and equity investments) is called... (a)Interest and dividends. (b)Wages. (c)Rent. (d)Profit.4. _______ is the act of paying out includes money paid out to run abusiness, cash expenditure and etc.A. Disbursements C. PaymentB. Issuance of capital D. PayoutAnswer the following question a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover
- ductory financial accounting_ Liquidity is simply: O a. another term for non-current assets O b. a company's ability to pay obligations when due O c. another term for current liabilities O d. another term for cash ype here to search1. IS THE FOLLOWING STATEMENT TRUE or FALSE? “A financial security is simply a contractbetween the provider of funds and the user of these funds that clearly specifies the amount of money that hasbeen provided and the terms and conditions of how the user is going to repay the provider.”a. Trueb. False2. IS THE FOLLOWING STATEMENT TRUE or FALSE? “A share of stock represents ownership of acorporation divided up into units, so that multiple people can own a percentage of the business.”a. Trueb. False3. A consol is a bond that:a. Pays a fixed annual coupon amount, and when originally issued, is set to mature in 30 years.b. Pays a fixed annual coupon amount, and when originally issued, is set to mature in 50 years.c. Does not pay an annual coupon (i.e., the annual coupon payment is $0) but when it matures pays out thepar value of the bond.d. Pays a fixed annual coupon amount forever.e. Does not pay an annual coupon (i.e., the annual coupon payment is $0) and never maturesA. 3. What is the line item that appears on a statement of financial position? D. Cost of sales. Dividends paid. Current portion of long-term debt. Increase in cash and equivalents.
- Which of the following is NOT a financial asset? Select one: O a. property b. Commercial Paper c. bonds O d. stocks 1Liquid assets is determined by Select one: a. Current assets - current liabilities O b. Current liabilities- Bank overdraft c. Current assets +stock+ prepaid expenses O d. Current assets-stock-Prepaid expensesEBIT is Select one: O a. equity before tax and interest O b. gross profit O c. net profit O d. EBT plus interest Clear my choice