why it is important to use profitability ratios
Q: TT Company holds 90 percent of BB Company’s common stock. In the current year, TT reports sales of…
A: Introduction:- The following basic information as follows under:- TT Company holds 90 percent of BB…
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A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…
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A: The fund flow statement helps to track the change in the financial position that is the reason for…
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A: Introduction: Depreciation, or a loss in the value of an asset, can be caused by a variety of…
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A: Introduction: Sales returns: Returning of the goods to retailer called as sales returns. And the…
Q: Question 30: Match each form to its purpose. SS-4 W-4 SS-5 1-9 DROP HERE DROP HERE DROP HERE DROP…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Exercise 11-31 (Algo) Impairment; goodwill (LO11-8] [The following information applies to the…
A: 2)Computation of the impairment loss: In the above question, Book value of Centerpoint's net assets…
Q: hich of the following should be recorded in Accounts Receivable? Group of answer choices Receivables…
A: Accounts Receivable means the amount to be received from customers in respect of sales effected or…
Q: chase price (the old building has no fair value) ment of property taxes on the land for 2022 and…
A:
Q: Which of these require a journal entry? Check All That Apply Cash Dividends Small Stock Dividends…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Sycamore, Inc. purchased P100,000 of 8 percent bonds of Alvarado Industries on January 1, 2022, at a…
A: GIVEN Sycamore, Inc. purchased P100,000 of 8 percent bonds of Alvarado Industries on January 1,…
Q: PROBLEM 1: CANVAS IS LIFE CORP uses a predetermined overhead rate based on machine hours to apply…
A: Lets understand the basics. Total manufacturing cost is total of all direct material cost, direct…
Q: 37. Process costing is used by companies making unique products. 38. Determining the unit cost of a…
A: Solution:- 37)Discussion of process costing used by companies making unique products as follows…
Q: What is the ending balance of the investment in associate account as of December 31, 2022?
A: On January 2, 2021, Normal Inc. acquired 15% interest in Laco Co. by paying P1,500,000 for 7,500…
Q: The NZ Equity market is illiquid, both in the primary and secondary markets. What does market…
A: Answer:- Market illiquidity:- Illiquidity in the word of investment refers to assets that are very…
Q: Identity and explain the three ways to cope with uncertainty in financial forecasts?
A: Financial Forecasting Financial forecasting refers to the process of estimating the performance of…
Q: During 20x9, PP Corporation recorded sales of inventory costing P500,0000 to SS Company, its wholly…
A: Cost of sales is the amount at which the inventory was purchased by the entity. This amount is being…
Q: Part 1 What would be your federal income tax if your taxable income was $117,000.00? S What is the…
A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…
Q: Numbers 7 and 8 Below is the information relative to an exchange of asset by Mimi Bernan Company.…
A: As per IAS 16,Property,plant and equipment If purchase of asset is made partly for cash and partly…
Q: TRUE OR FALSE An instrument payable out of a contingency is not negotiable even if the…
A: Since you have posted question with multiple sub-parts, we will do the first three sub-parts for…
Q: n the following ordinary annuity, the interest is compounded with each payment, and the payment is…
A: How long will it take to have enough for a 20% down payment on a $155,000 condo in the city:- 20%…
Q: At the end of the day, the cash register tape shows $1,360 in cash sales, but the count of cash in…
A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…
Q: Thompson Corporation gathered the following reconciling information in preparing its October bank…
A: Calculation of Cash Balance as per books Particular Amount ($) Cash Balance as per Bank…
Q: Putnam Company provides its employees vacation benefits and a defined contribution pension plan.…
A: Unfunded pension liability = Pension cost - Amount contributed to the pension plan administrator
Q: On December 2, 2022, Pancit Manufacturing Company purchased goods with a cash price of P1,600,000.…
A: Cost of inventory includes Purchase cost, transportation cost of bring the inventory from seller to…
Q: ck of LL Co. During 20x2, KK reported sales of P1,120,000 and cost of goods sold of P840,000. For…
A: Consolidated sales refer to the compiled sales of a company with its subsidiaries as well.
Q: Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows from (used for) operating…
A: Cash flow is the statement, where we deal with cash only, It is the real and virtual movement of…
Q: e Apparel Inc. is considering two investment projects. The estimated net cash flows from each…
A: Answer 1a. Calculation of Cash Payback Period
Q: ules of Debit and Credit Directions: Indicate whether each account identified is to be debited…
A: Accounting equation of the business says that all assets of the business must be equal to total…
Q: Question 1 The following is a list of accounting transactions. Indicates the effect of each…
A: Every accounting transaction has a double entry which will affect assets or liabilities or equity of…
Q: tigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end…
A: Hello student! Since you have posted multiple sub-questions, we will answer the first 3 sub-parts as…
Q: Land improvements are: Multiple Choice Expensed in the period incurred.
A: The land is recorded on the asset side of the balance sheet under non current assets section named…
Q: Raven Corporation received an offer from an exporter for 28,000 units of product at $17 per unit.…
A: Lets understand the basics. When there is special order received from the other party then there is…
Q: A taxpayer buys a new cash register for $1,300 in January 2021. This is the only asset purcha in…
A: Cash register is an office equipment hence would be classified under 7 year- 200% asset class. Also…
Q: Statement 1: An entity shall disclose the period of construction in which borrowing costs are…
A: borrowing cost include financial charges like interest on loan and overdraft. the capitalisation of…
Q: rtized premiums of P1,770 and P1,830, respectively. At December 31, 2022, the fair value of the…
A: Profits on readily available-for-sale securities with easily determined fair values should be…
Q: 1. Leases On January 1, 2020, Cage Company contracts to lease equipment for 5 years, agreeing to…
A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…
Q: Weller Company's budgeted unit sales for the upcoming fiscal year are provided below: 1st Quarter…
A: Lets understand the basics. Budget is prepared by management to estimate future profit and loss from…
Q: e personal computers. The CPU's are manufactured in Seattle, lumbus, and New York and shipped to…
A: Concept of least transportation cost
Q: Justine Corporation uses a standard cost system. Direct labor Information for product. Ten for the…
A: Variance is considered as the difference between budgeted value and actual results. The management…
Q: 2. Estimate the 2021 ending inventory and cost of goods sold using the average cost retail method…
A: Particulars Cost Retail Beginning inventory 165,000 220,000 Add: Purchases 690,000 688,000…
Q: Problem 5: Freight-In and Purchase Discounts MNO Company regularly buys merchandise from Devilla…
A: There are two type of discounts being applicable on purchase of inventory. One is trade discount and…
Q: on December 31, 20X1, the Stockholders’ Equity section of Mercedes Corporation was as follows:…
A: The dividend is paid to shareholders from the retained earnings of the business.
Q: On January 1, 2020, Dulcinea Company enters a ten-year noncancelable lease for equipment having an…
A: It is finance lease Because use ful life of the asset and non cancelable lease same. Calculation…
Q: Question 2: How is self-employment income calculated?
A: As per guidelines, only one question is allowed to be solved so I am answering the first question.…
Q: For what decisions is the manager of a cost center not responsible?
A: Responsibility of Cost Centre Manager The main responsibility of the cost center managers to…
Q: 3 Lucille Ball is the owner of Speedy Trucking Company. On March 31, 20OF, ate three months of…
A: The income statement shows the net income or loss of the company. Whereas, the balance sheet shows…
Q: dt hours on average, each student takes per quarter A random sample bility and assumed that the…
A: The answer has been mentioned below.
Q: 4,500,000 795,000 2,400,000 Division C Division D 6,800,000 795,000 2,700,000 Required: (a) Using…
A: Profit margin is the margin earned on sales of the business. Investment turnover shows ratio of…
Q: Equipment with a cost of $70,007, an estimated residual value of $4,741, and an estimated life of 14…
A: In the given question, the original estimated life of the asset was 14 years. After it was used for…
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