Explain the role of the Central Bank and critically evaluate the advantages and disadvantages of  the Central Bank independence

Q: ABC Company operates a number of branches. On December 31, 2022, its Mindanao branch showed a Home…

A:

Q: Evan, a single individual, operates a service business that earned $110,000 (after all applicable…

A: Even if you select the standard deduction over an itemized deduction, the QBI deduction is only…

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A: The employer provides several benefits to the employee and the expenses related to these are…

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A: Income tax payable is an obligation for the tax payers to the government on the taxable income.…

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A: Aggregate capital balance of Nina, Ricci and Ralph = P 90,000 + P 50,000 + P 60,000 Aggregate…

Q: On January 1 of this year, Diaz Boutique pays $185,000 to modernize its store. Improvements include…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: I.  Intercompany transfer of inventory at cost need not be eliminated in consolidation. II.…

A: Answer: Both statements are false. Explanation : An intercompany transaction takes place between the…

Q: How much is the additional allowable training expenses, if any?

A: Additional allowable training expenses is the deduction which is allowed legally to the company…

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A: Job order costing : Job order costing method is applied when manufacturer receive the order for…

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A: Solution: Actual level of activity = 713 frames Cost formula of supplies cost = $1,350 + $18 per…

Q: if magui will invest her money today worth 500000 in JMC Mining company, how much is the expected…

A: The amount of investment today is the present value of annual income at target yield for 10 years.

Q: A wastewater treatment facility is planning to purchase a new sludge dryer equipment to replace its…

A:

Q: 26 S1: Consolidated financial statements are typically prepared when one company has controlling…

A: Statement 1 is true ... Consolidated financial statements are typically prepared when one company…

Q: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large…

A: Small stock dividend  A small stock dividend is distribution of 25 percent or less outstanding…

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

A: Stock split is a method of increasing the number of outstanding shares by decreasing the per-share…

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A: Cash budget shows the ending cash balance as a result of cash inflows and outflows of the company's…

Q: ABC Company uses a backflush costing system with three trigger points: Purchase of direct materials…

A: Backflush costing is one of the costing system used for Just in time inventory system. Under costs…

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A: Trading Stock bought   $          77,000 Trading Stock Sold   $        125,000 All Items…

Q: Accounting Please make a cost by nature Income Statement for the following points: a) Write off (in…

A: Income statement is the statement, where expenses are disclosed according to their nature, we deal…

Q: Inventory taken by the owner of the entity for personal use, will affect which of the following…

A: Periodic inventory system is the system of accounting in which inventory is calculated at the end of…

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A: Equivalent units under weighted average method = Units completed and transferred out + Units in…

Q: Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders…

A: The standard VAT rate of Africa is 15% for trade. Therefore, the value of VAT output to be disclosed…

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A: Solution: Under percentage of completion method, revenue is recognized based on % work completed…

Q: Saved Income statements and balance sheets data for Virtual Gaming Systems are provided below.…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Mr. Uno had the following records of his horse races in the current month of 20X1: Туре of Cost of…

A: In horse winning, a person has to pay tax at the rate of 10% on winnings amount after deducting the…

Q: The GMA corporation shows the following data related to an item of Inventory Inventory, January 1…

A: FIFO: FIFO stands for First-In, First-Out.  In this method inventory purchased first will be sell…

Q: Below are accounts were taken from the books of Enrique Hill Cross School Security Services for…

A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…

Q: You received the following financial statement from Bok Traders who manufacture replica rugby…

A: The budgeted income statement includes all of the line items found in a typical income statement,…

Q: not-for-profit hospital performs services in the current year at a charge of $1 million.  Of this…

A: For not for profit hospital, Net patient service revenue = service charges - charity care services -…

Q: ecorded in the applicable asset and liability accounts of the parent

A: Business combination refers to a transaction in which the acquirer has complete control over the…

Q: Unconditional transfers of cash or other resources to an entity in a voluntary, nonreciprocal…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: According to Ian Redpath and Bob Lickwar, what is the purpose of the IRS 1444 letter/notice?

A: Introduction Economic impact payments are Coronavirus aid, relief, it provides payments up to $1,200…

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A: Solution 1:       Differential Analysis- Troy Engines Ltd - Making Carbureator (alt 1) or Buying…

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A: GIVEN    1. The corporation was authorized to issue 100,000 ordinary shares with par value of P100.…

Q: Here is some financial statement data for Nestlé (in millions of Swiss francs): 2020 Total current…

A: Working note: Average inventory = (beginning inventory + ending inventory) /2 = (11982+10101) /2 =…

Q: For a bus with a capacity of 30 seats, the full fare is $450 and the discounted fare is $150. On…

A: The practice of calculating the present value of a payment or a stream of payments that will be…

Q: What is the process of abatement? Select one: a.The establishment of how the creditors will be…

A: An abatement is a reduction or an exemption on the level of taxation faced by an individual or…

Q: Jo and Malone formed a partnership and have capital balances of P 100,000 and P 200,000,…

A: In the given question, Jo and Malone have capital balances of P 100,000 and P 200,000 respectively.…

Q: Exercise 10-17 (Algo) Disposal of assets LO P2 Diaz Company owns a machine that cost $127,000 and…

A: A record is frequently recorded inside the main ledger; however, it may alternatively be entered in…

Q: 1. How much is the consolidated sales for 2022?   2. How much is the net income attributable to…

A: In 2022, ABC Company sold inventory costing P150,000 to its 80%-owned subsidiary for P210,000.  A…

Q: Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders…

A: VAT is the value added tax is clear as its name, that tax is levied on each stage, when value is…

Q: Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: Which of the following production operations would be most likely to employ a process cost system?…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: An analysis of Puge Co.'s unadjusted prepaid expense account at December 31, 20x3, revealed the…

A: Prepaid Expenses: It is possible to pay for an expenditure in one accounting period, but the…

Q: On January 1, 2021, Penn Company began operations bu issuing at P15 per share one-half of the…

A: Calculation of shareholders' equity: Year 2021   Issue of ordinary shares (475,000*15)…

Q: The owner of the Moxy Hotel in downtown Washington, DC, offers two room types: “deluxe” and…

A: Under the assumption that the variable cost of a deluxe room is the same as that of a regular room…

Q: ABC Company has two departments and uses a job-order costing system. ABC applies overhead in…

A: Cost of goods manufactured: Cost of goods manufactured means total manufacturing costs; including…

Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…

A: Formula: Estimated amount to be invested by D for a 20% interest = Total capital of the partnership…

Q: On January 1, 2021, Apollo Company acquired P4,000,000 of 12% face amount bonds for P3,767,000 to be…

A: Bonds are the financial securities issued in order to raise funds from the market.