What is the role of accountant in setting the price of the goods or services?

Q: The charter gives Mack the authority to issue 20,000 shares of $25 par value preferred stock and 100...

A: A company can issue common stock or preferred stock for raising capital funds. Common Stock and Pref...

Q: Which of the following are considered separate financial statements? a. Those presented by a parent...

A: Separate financial statements are a special class of financial statements that have to be prepared u...

Q: Brandywine Corp. reported the following information for 2016 and 2017: Interest payable, 31 December...

A: Cash paid for interest = Beginning interest payable + interest expense - ending interest payable

Q: Q3) Suppose that on November 15th, 2021 a company purchased ( i.e. Ilong) one May 2022 live cattle f...

A: A futures contract is a derivative instrument to purchase or sell an underlying asset on a future da...

Q: On January 01, 2018, P Company acquired 80% of the outstanding stock of S Company for P3,400,000. On...

A: According to IFRS 3, Acquisition-related costs incurred by the acquiring company to effect the busin...

Q: Which of the following statements regarding equity is not true? It is defined independently of asset...

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity. 

Q: Remodeling and rehabilitation: O Can usually be undertaken by the property manager without consultin...

A: Rehabilitants and remodeling both are a different thing. Rehabilitations consists of renovating with...

Q: 3. What are the selling price variance and sales volume variance? 4. What are the sales mix variance...

A: Selling Price Variance = Actual Quantity x (Actual Price - Standard price) Sales Volume Variance = S...

Q: During one of his rallies, Jackie, a candidate for presidency, claimed that his main platform is to ...

A: Following is the correct answer 

Q: P Corporation purchased 60% of the shares of S Corporation on January 01, 2019 for P2,200,000. On th...

A: Introduction Consolidated retained earnings are same as retained earning it is shown under a shareho...

Q: On September 1, 2022, Curly Company approved a formal plan to sell a business segment. The sale will...

A:

Q: October November December Budgeted S&A Expenses Salary Expense 26,000 26,500 13,500 10,000 27,000 13...

A: Cash paid for Sales commission = Sales commission expense of prior month x 100% Cash paid for Utilit...

Q: Company 1 Company 2 Selling price per deck $ 3.00 $3.00 Cost of paper deck 0.62 0.65 Printing ink pe...

A: Breakeven is the point where company's profit is equal to 0. This is the point where company earns n...

Q: vironmentally- ke the product:

A: The correct option is 4.

Q: The following information relates to Automative Services on 30 June 2021. Vehicles 135,000 160,000 7...

A: Automative Services Balance Sheet At June 30, 2021 Assets Current Assets   Cash at Bank   ...

Q: Problem 9-28 (Algo) Complete balance sheet and prepare a statement of changes in retained earnings L...

A: The cash flow statement is prepared to record the cash flow from various activities during the perio...

Q: Bulldogs Inc.'s capital structure consists of 40% long-term liabilities, 30% preferred stock, and 30...

A: Information Capital Ratio Cost of capital Long-term liabilities 40% 10% Preferred stock 30% 1...

Q: Ifa company issues common stock for $41100 and uses $29300 of the cash to purchase a truck, O assets...

A: In the accounting equation of the business, there are three elements. These are Assets, Liabilities ...

Q: You and Jackie are arguing whether tax laws can be retroactive in its application. Jackie noted that...

A: In the context of taxation, retrospective taxation refers to the implementation of a current law ame...

Q: 366,939 323,664 41,546 55,671 231,261 202.930 135,678 120,734 106,150 103.013 29,527 17,720

A: The answer has been mentioned below.

Q: On 1 November, 2016, Eastern Company wrote off an account receivable of HK$10,300 as worthless becau...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: Taft Corporation uses a standard costing system in which variable manufacturing overhead is assigned...

A: Lets understand the basics. Variable overhead rate variance is a variance between the standard rate ...

Q: a. Preference shares $250 000; Ordinary shares $1 073 100; Reserves $140 000; Retained earnings $297...

A: Shareholder's Equity Shareholder's Equity which consist of total of preference share capital, equity...

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of th...

A: Solution....     Estimated manufacturing overhead costs  = $328,000. Estimated direct labor hours  =...

Q: Accounting Equation The total assets and total liabilities (in millions) of ABC Corporation and XYZ ...

A: Lets understand the basics. As per balance sheet equation, total asset is always equal to equity plu...

Q: Assume that the operating results for last year were as follows: Sales $360,000 Less: Variable expen...

A: Formula: Operating leverage = Contribution margin / Net operating income

Q: On January 1, 20x1, an entity issues bonds with a face amount of P8,000,000 for P8,600,000. The bond...

A: Introduction:- Bonds are a sort of investment that is utilized in mutual funds and private investing...

Q: The capital structure of Bulldogs Inc. is comprised of 50% ordinary stock, 25% preferred stock, and ...

A: Formula: Weighted Average Cost of Capital = (Cost of Ordinary Stock X Weighted of Ordinary Stock) + ...

Q: On January 1, 2022, Lucas Company acquired 85% of outstanding shares of Luna Corp. The consideration...

A: A consolidated balance sheet is a single balance sheet that provide the financial position of the en...

Q: A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at 3% compound...

A: Amortization of Loan: An amortized loan is a form of loan in which the borrower is required to make ...

Q: Previtz Company produces two products from a joint process: X and Z. Joint processing costs for this...

A: Sales value at split off point = In this method Total sales value at split off point is taken to all...

Q: In order to draw a basic break-even chart, which of the following information would you not require?...

A: The break even sales are the sales where business earns no profit no loss during the period.  The ma...

Q: your given the following information about a home loan: loan amount 300000 number of years 25 years ...

A: The internal rate of return in banking industry is the rate of return at which the present values of...

Q: Suppose that the HST tax rate is increased to 20% value added tax. 1. Complete the following table: ...

A: Harmonized sales tax is a Consumption tax in Canada. It is levid on federal goods and service. Follo...

Q: Complete the cost of sales section by supplying the missing amounts (A- J) IN THE BLANKS BELOW based...

A: Formulas used in cost accounting are: Goods available for sale = Merchandise Inventory Beginning + P...

Q: On January 1, 2022, Lucas Company acquired 85% of outstanding shares of Luna Corp. The consideration...

A: Solution Non controlling interest is an ownership position wherein a shareholder owns less than 50% ...

Q: True or false When a non-interest-bearing note has been issued at a discount or premium and is fully...

A: Non-interest bearing note are those liabilities of the entity which are to be repaid after certain s...

Q: On January 4, 2021, P Company purchased 75% interest in S Corporation for P300,000. S's recorded ass...

A: When preparing consolidated financial statements, inter company transactions shall be eliminated to ...

Q: The rent expense account in 2020 has debit balance of P74,400 composed of the following: (1) January...

A: Working notes :  (1) Rent expenses for the period January 2020 to April 2020 = P16800 (2) Rent expen...

Q: On March 12, Medical Waste Services provides services on account to Grace Hospital for $10,700, term...

A: In the given question if the grace pay the amount before or within 10 days then they will get the di...

Q: Accounting Equation Katherine Brewer is the stockholder and operator of Our Idol LLC, a motivational...

A: Accounting Period: An accounting period is a timeframe that covers specific bookkeeping capacities, ...

Q: Greenspan Supply does not segregate sales and sales taxes at the time of sale. The register total fo...

A: Workings: Greenspan supply can segregate the sales and sales tax payable by computing the sales tax ...

Q: Assume the perpetual inventory method is used. The company purchased $12,700 of merchandise on acco...

A: The perpetual inventory method is one of the method in which record of inventory is maintained conti...

Q: the ending inventory of a firm is overstated by $49,000, by how much and in what direction (overstat...

A: Solution Concept Mathematically Cost of goods sold       =beginning inventory + purchase – ending in...

Q: Simon intends to start his own business selling specialist wines. Some of his sales will be for cash...

A: A cash budget is a financial analytic tool that forecasts the inflow and outflow of cash in the futu...

Q: s the answer to this question correct If you received a check from Mr. Jones for $500 for work you ...

A: Cash Receipts Journal is one of the special journal under which all cash received by the business is...

Q: Please answer part 3 Units 1,500 $31 Transactions a. Inventory, Beginning For the year: b. Purchase,...

A: Ending Inventory is the amount of goods held by the entity after incurring all the transactions rela...

Q: Oriole Company had the following two transactions related to its delivery truck. 1. Paid $51 for an ...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: On August 31, 2022, Jackie agreed to purchase a parcel of land for P1,000,000 which the seller consi...

A: Capital gain refers to the income earned by selling a capital asset over and above its indexed cost ...

Q: Below is the adjusted trial balance for the partnership of J, K and L. group of CPA's in the practic...

A: The income statement explains the financial performance of the company for a particular period of ti...