Enumerate and explain five (5) powers of the BIR.
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A: Fixed Cost :— It is the cost that does not depends on units and does not changes with change in…
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A: Balance Sheet :— Balance Sheet is The Final Statement Of Financial Statement of the Company. It…
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A: The objective of IAS 37 is to ensure proper recognition and disclosure of provisions, contingent…
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A: Given, Cash collected for the services to be provided in one year = $120,000 The fiscal year of the…
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A: Lets understand the basics. For calculating the missing figures, we need to first calculate net…
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A: Assets are the resources that an entity owns. It includes various current and non-current assets…
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A: Petty cash fund refers to the fund which is used for paying off the little or small expenses of the…
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A: Insurance, if paid for future period, is treated as prepaid insurance and it is to be shown in the…
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A: It has been given in the question that common shareholders have the right on the total income of…
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A: Lets understand the basics. High low method is a method using which variable costs and fixed costs…
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A: (a) Price of T-bill P = $21000 r = 3.04% = 0.0396 t = 9/12 = 0.75 Discount = P x r x t = 21000 x…
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A: year cash inflows present value @12% discount factor present value of cash inflows @12% 1 23,000…
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A: Introduction: Fixed costs: Fixed costs are those costs which remains same irrespective of level of…
Q: All please
A: Trimmed Mean: The mean of a dataset is derived after a predetermined percentage of the dataset's…
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A: Income statement is one of the financial statement which is prepared at the end of the accounting…
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A: The journal entries that are required to be passed for all these 6 transactions are detailed below:
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A: Lets understand the basics. Journal entry is required to make to record event and transaction that…
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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
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A: a) Objective: 1 Benchmarking helps the organizations to get ahead of the competitors.Its objective…
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A: Total manufacturing cost :— It is the total cost of production incurred during the period. It is…
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A: The net earnings are the net profit drives from the sale revenue after deducting cost, operating and…
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A: Accounting Equation :— It is the basic relationship between assets, liabilities and owner's equity.…
Q: how is the selling price computed
A: Formula: Selling price=Cost100%-Gross profit ratio
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A: The business entity principle states that the owner and the business transactions are separate. They…
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A: Factory overheads are the cost incurred on the making of the goods but it does not include the…
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A: Ethical practices are very important in every aspect of business, whether it is related to any…
Q: Required information [The following information applies to the questions displayed below.] The…
A: Lets understand the basics. Prime cost is total of direct material and direct labor cost. It is a…
Q: The owner withdrew $4,000 for personal expenses. Which account is credited? *
A: A journal entry is used to record transaction in the accounting records of a business. Generally…
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A: Explanation of Concept Bond is that debt instrument which is used by the organization to finance…
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A: A balance sheet is a representation of an individual's personal or corporation's financial balances…
Q: * On November 28, JT's Consulting Services purchased supplies for $3,000, Check ?1002. Which account…
A: The different balances in the accounts have debit and credit balance. The journal entries are…
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A: The accounts balances of business are classified as debit and credit balance. The assets and…
Q: The following facts are given regarding a sole proprietor transferring the assets of his business to…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. Balance…
Q: A purchase of an asset on account a. decreases expenses. b. decreases owner's equity. c. increases…
A: Accounting Equation :— It is the relationship between assets, liabilities and owner's equity.…
Q: Mar. 22) The company received $6,200 cash as partial payment for the work completed on March 9.…
A: According to the given question, we are required to prepare a journal entry. Journal entry: The…
Q: When planning to perform an audit, an accountant must have a clear understanding of audit risk and…
A: Audit risk refers to those risks which the auditor states while there in is an inappropriate opinion…
Q: HUGO Corporation is a manufacturer that uses job-order costing. On January 1 the beginning of its…
A: Overapplied overhead=Manufacturing overhead costs applied-Manufacturing overhead costs incurred
Q: 36. Each finished product of Carolina Cup requires two pounds of Product A and five pounds of…
A: Total Cost of Goods Manufactured :— The cost of goods manufactured is the calculation of a company's…
Q: Auditors are required on every engagement to obtain a representation letter from the client. a.…
A: a. The letter of representation from the client is regarded as supporting audit evidence. They are…
Q: The following facts are given regarding a sole proprietor transferring the assets of his business to…
A: Balance sheet is one of the financial statement of the business, which shows all assets, all…
Q: Balance Sheet
A: From the available info we will prepare balance sheet as per given…
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A: Mark-Up % :— Mark Up cost is the Difference Between Sales - Total Product Cost. Markup % as per…
Q: A. Camy Enterprise is a wholesaler company that sells various types of kitchenware. The following is…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: (please answer a, b)
A: Introduction Master file: A group of documents relating to one of the primary topics of an…
Q: 2.- An air conditioning system product sells the industrial model for $175 each. Production costs…
A: BEP :— Break even point means Sales on which no Profit no gain. = Fixed Cost ÷ Contributions Margin…
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