Which of the following is reported as other comprehensive income in accordance with PAS 1, Presentation of Financial Statement?   Group of answer choices   sale of inventory at more than cost changes in revaluation surplus impairment loss of depreciable asset loss on sale of machinery

Q: During 2020, Sarasota Furniture Company purchases a carload of wicker chairs. The manufacturer sells...

A: Gross profit realized during 2020  26048 Amount of inventory of unsold straight chairs 71442   

Q: FOR THESE TWO QUESTIONS A and B, assume the accrual basis of accounting and a year-end of 31 Decembe...

A: (a)  Revenue of Services means Revenue of the company through services provided By the company . Ser...

Q: determine the total amount of share premium to be reported by ABC Co after the acquisition?

A: The determination of total amount of Share Premium to be reported by ABC Co after the acquisition is...

Q: Ether trading unit given the following information for the year ended March 31, 2020 for one of its ...

A: Journal proper contains details of transactions which are not there in the book of accounts as they ...

Q: Required information Skip to question   [The following information applies to the questions display...

A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period. 

Q: An enterprise provides each of its directors with a car. The company purchases these at £40,000 each...

A: The reducing balance method is also know as declining balance method where rate of depreciation is c...

Q: Flora's Flats produces comfortable and portable women's shoes designed to be worn as a second pair o...

A:

Q: In determining whether transactions were really exist, the direction of the audit testing should be ...

A: In determining whether transactions were really exist, the direction of the audit testing should be ...

Q: Question 1 On 1 April 20X4 Triangle sold maturing inventory that had a carrying value of R3 million ...

A:     a) The transaction will be considered as a financial liability in which the loan...

Q: Rainier Company Yakima Company 2 Materials inventory, May 1 $280,000.00 $177,000.00 3 Materials inve...

A: Income statement is the financial statement which is usually prepared by the entities' for the purpo...

Q: Retained earnings, May 1 $3,750,000 Net income 720,000 Cash dividends declared 80,000 Stock dividend...

A: Lets understand the basics. Retained earning is a net income retained from the net income income ear...

Q: Russell Retail Group begins the year with inventory of $55,000 and ends the year with inventory of $...

A: Formula: Cost of goods sold = Beginning Inventory + Purchases - Ending Inventory

Q: Flora's Flats produces comfortable and portable women's shoes designed to be wom as a second pair of...

A: Breakeven sales revenue is that level of sales revenue at which business is only recovering it's tot...

Q: Dolfo and Poldo formed a partnership. Dolfo contributed cash of P600,000, desktop computer of P70,00...

A:                      Wokring note :-                        As per standard practices we will consid...

Q: Multiple choice: 1. Entity A’s accounts receivable has a balance of ₱10,000. If the related allowanc...

A: Carrying balance of account receivable is the difference between account receivable and allowance fo...

Q: 5. See the below table for the Dog Voices Corporation (DVC): a. Pick any three (3) ratios and explai...

A: Answer of part (a) 3 ratios chosen for this answer are: 1. Current Ratio 2. Inventory Turnover &...

Q: a) Compute the return on investment for 2021. (b) Compute the expected return on investment for each...

A: Sales and Cost data of Company A is provided to us. Variable costs are costs which vary based on the...

Q: Accounting Variable manufacturing costs are $93 per unit, and fixed manufacturing costs are $130,20O...

A: Costing is an important aspect of Accounting it generally consists of two methods i.e fixed and vari...

Q: Which of the following statements appropriately describes attributes of perpetual and periodic inven...

A: Inventory is the goods which company is having to sale or which is also known as goods available for...

Q: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information fo...

A: The computation of the table above contains budgets and actual information for the month of June are...

Q: Pat invites Tin to join him in his business. Tin agreed that the following adjustments are taken up ...

A: Partnership is one of the agreement between two or more than two persons, in which they invest their...

Q: Kate and Mark, a married couple, own a limited liability company. Although Kate and Mark are not yet...

A: C)A cross-purchase buy-sell agreement between Kate, Mark, and the children

Q: ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as fol...

A: Branch Office Accounting For Accounting branch account is kept separately by Head office account and...

Q: Total manufacturing costs assigned to job XYZ is OMR950; the job included 10 units. If the company u...

A: Formula: Manufacturing cost per Unit = Total Manufacturing cost / Number of units

Q: 52. A note receivable in installment at the end of each period:   Group of answer choices   shall b...

A: A Note receivable is an instrument which is issued as an evidence for goods purchased on credit or a...

Q: Anne Company has an equipment costing P700,000 with an estimated residual value of P70,000 and an es...

A: The Accumulated depreciation is calculated as sum of Depreciation expense for past years. The book v...

Q: The following information summarizes the standard cost for producing one metal tennis racket frame a...

A: The question is based on the concept of Cost Accounting. When compared to the industry or setting st...

Q: The Molson Company had budgeted production for the year as follows: Quarter 1 2 3 4 Production in u...

A: Closing inventory of raw materials = Opening inventory + Purchases made during the period - Consumpt...

Q: O a. P1,500 COSTS INCURRED O b. P19,900 JOBS January February March O . P7,500 A P5,000 O d. P15,300...

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...

Q: PLEASE ANSWER ONLY IF 100% RIGHT Q- An investor buys a Class A office building in downtown Columbus...

A: Core  investments are the investments that generate stable and low risk incomes. These involves very...

Q: Home Office P 256,000 210,000 Branch P 78,500 Sales Purchases from outsiders 20,000 Shipments to bra...

A: Net Income/(Loss):   Home office Branch Sales (A) 256000 78500 Cost:     Purchase from outs...

Q: Goodard inc. planned to use $160 of material per unit but actually used $148 of material per unit, a...

A: Flexible budget is that type and form of budget, which changes along with change in volume or produc...

Q: A machine costing P3,750,000 with an eight-year estimated useful life and an estimated residual valu...

A: Machine cost = P3,750,000 Residual value = P150,000 Depreciable value = 3750000-150000              ...

Q: ABC Co. owns a branch. At the end of the month, the balance of the Allowance on overvaluation is P95...

A: Profit: Profit is the money that a firm makes after all of its expenditures have been deducted. From...

Q: If ABC Co purchases the net assets of XYZ Co by issuing 50,000 shares of their P20 par value ordinar...

A: 50000 shares having par value of P20 are issued at P30

Q: Problem 5-3 (Algo) Analysis of alternatives [LO5-3, 5-8] Harding Company is in the process of purcha...

A: Present value helps in determining to know present value of money to future value to be received it ...

Q: A retailer pays for purchased merchandise within the discount window. The retailer would recognize t...

A: Accounts Payable - Accounts Payable is the creditor for the company. Company owed some amount for th...

Q: Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airpo The c...

A: Solution: Planning budget is prepared based on planned volume of the activity. It is different from ...

Q: Daley Company prepared the following aging of receivables analysis at December 31.     Total Days P...

A: Solution: Bad debts expense is recognized every year based on estimated uncollectible s at year end....

Q: On January 1, 2018, a new building was purchased at a cost of P30 million. Depreciation was computed...

A: The question is related to the Revaluation of Assets. When Revaluation of Assets are made, then foll...

Q: 2017: 1-4 Ms. Jaya started Jaya Business Ventures by bringing in cash of Rs.3,00,000. 2-4 Ms. Jaya p...

A: The trial balance shows the balance of ledger accounts

Q: Statement of financial position as at the beginning of the earliest comparative period is not requir...

A: Statement of financial position as at the beginning of the earliest comparative period is required w...

Q: You are a social media marketer responsible for creating a social media campaign for a pair of Ray B...

A: Total Investment Excluding sunglass making cost = Total Cost Incurred = 5000 + 3000 + 5000 + 1000 = ...

Q: A company purchased land by signing a note with the seller, requiring down payment of P100,000, paym...

A: The value of land will be equal to present value of all payments to be made against purchase of land...

Q: Tia Kline, a resident of Canada, is the sole shareholder of KI Inc. She plans to transfer four asset...

A: GIVEN   Tia Kline, a resident of Canada, is the sole shareholder of KI Inc. She plans to transfer fo...

Q: Assume that gross profit averages 35% for BITCO.  If net sales are $1,500,000, beginning inventory i...

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the r...

Q: The following data as of June 1, 2020 were taken from the records of X: Cash 21,000 Accouns Receivab...

A: At the time of formation of partnership business, all non cash assets that are invested by the partn...

Q: a. The home office inadvertently faxed a note to the branch informing the branch of a collection of ...

A:

Q: A particular security’s default risk premium is 2 percent. For all securities, the inflation risk pr...

A: Step2 in solution.

Q: Instructions: Journalize the accounts using additional account titles: Joy, Drawing, Laundry Revenue...

A: Answer 1) Date Account Titles  Debit  Credit May'5 Cash        9,000     ...