Explain the drawing 21% Financails 50% Sales Expenes

Q: partnership with net assets

A: Capital is actually the money invested to start a venture and generates revenues. It’s also the…

Q: Knowledge Check 01 Aplington Company purchased a copyright for $25,000 and intends to use it for 25…

A: The purchase value of Copyright= $25,000 Intends to Use= 25 years   Yearly Amortization expenses=…

Q: An investor anticipates that land values for a site will be worth $150,000 in five years. Assume…

A: Return on investment (ROI) is a measure of the profitability of an investment. It is calculated by…

Q: On January 1, 2022, Pipestone Corporation issued a four-year, $40,000, 7% bond. The interest is…

A: Bond Interest Expense Bond interest expense is the amount arises when the bonds are issued at…

Q: RR Records Inc. acquired all of DD Studios’ voting shares on January 1, 20x1, for P280,000. RR’s…

A: Consolidated balance sheet refers to the document which states the whole financial position of the…

Q: What is the purpose of looking at financial ratios and other data as a financial analyst?  What…

A: As a financial analyst, one of the main purposes of looking at financial ratios and other data is to…

Q: ATC 5-1 Business Applications Case Using ABC to improve product costing Drilling Innovations Inc.…

A: Gross Profit :— It is the difference between sales revenue and cost of goods sold.    Activity Based…

Q: PROBLEM 6: (Government grant and Borrowing Cost) On January 1, 2022, Goldwin purchased a plating…

A: For the first part of the problem, Goldwin Company should report P400,000 as deferred grant income…

Q: Question 1 On October 6, a credit card account had a balance of P10, 000. A purchase of P3, 000 was…

A: Credit cards are used by many for any purchasing but the credit cards carry the very interest rate…

Q: hang Company reported Cost of goods sold of $735,000, beginning Inventory of $37,200 and ending…

A: It is important to average inventory over two or more financial period in order to determine average…

Q: Compound journal entries. The following transactions took place at the Cook Employment Agency during…

A: The initial record of any transaction in a company is a journal entry. The information from these…

Q: C. Comparative Financial data for the two companies are shown below: Cash Accounts Receivable…

A: The question is related to Ratio Analysis. Inventory Turnover Ratio is calculated with the help of…

Q: A family friend has asked your help in analyzing the operations of three anonymous companies…

A: RETURN ON INVESTMENT Return on Investment is the ratio between Net Operating Income & Average…

Q: J.P. Robard Manufacturing Company Income Statement for the Year Ended December 31, 2021 ($ in…

A: Lets understand the basics. Profit margin ratio is also known as net profit ratio. This ratio shows…

Q: Employee Employment Insurance premiums for a Corporation were $50,000.00 for 2022. The Corporation…

A: The Corporation saved $4,112.50 in Employer premiums because their reduced rate of 1.259 meant that…

Q: STRAIGHT PROBLEMS The Accounting Equation 65 Problem 1: Answer the questions. Provide the correct…

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

Q: In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa…

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

Q: hy is mortgage is non-current liabilities

A: Mortgage are said to be generally loans that are issued by the company as a result of which it is a…

Q: Dr. Evita Pajanustan, a CPA and PHD graduate of Harvard University, USA opened a consultancy firm on…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Solve by using tables Table 12-1 and Table 12-2. Paul and Donna Kelsch are planning a Mediterranean…

A: Time Value of Money :— According to this concept, value of money in present day is greater than the…

Q: Luma Incorporated has provided the following data concerning one of the products in its standard…

A: Variances When the planned costs are compared with the actual costs, then the variations arising…

Q: The pre-release material is below together with some further information and the requirements of the…

A: Balance Scorecard Firms apply a performance measurement system as a comprehensive master plan to…

Q: explain in detail regarding the following topics   1. Define the tax Filing Statuses   2.…

A: A tax return is a form (or series of forms) submitted to a taxing body that lists income, spending,…

Q: On January 1, 2018, P Company purchased 6,000 shares of the 7,500 outstanding shares of S Company by…

A: Consolidation - On the same date, financial statements are prepared for both the main firm and its…

Q: A Company has a single production process and it manufactures three products A, B and C by same…

A: Overhead Absorption Rate :— It is the rate used to allocate manufacturing overhead to cost object.…

Q: In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa…

A: The question asked to prepare the journal entries for the Westgate Construction Company.…

Q: Services of painters in building construction falls under what cost

A: Introduction:- Cost Accounting is a process of identification, classification, measurement, and…

Q: Current Attempt in Progress The salespeople at Kingbird, a notebook manufacturer, commonly pressured…

A: Variable Cost :— It is the cost that changes with change in cost driver. Variable cost per cost…

Q: Prepare a PowerPoint presentation for shareholders and future investors. The purpose of the…

A: Here is a suggested outline for the PowerPoint presentation:   I. Introduction   Introduce the topic…

Q: . Castillo Corporation has maintained a periodic inventory system and used the LI w alternative for…

A: Inventory - Both the raw materials used in production and the finished commodities that are offered…

Q: TRANSACTIONS 1. Paid $3,750 for the current month's rent. 2. Performed services for $4,500 in cash.…

A: T Account :— It is the ledger account in which transaction are posted during the period.    General…

Q: AA Company established as petty cash fund of P15,000. Details of the PCF are as follows:…

A: When a modest sum of business money is maintained on hand to cover tiny or incidental costs,…

Q: The sports club of Orissa had received in 2021-2022 $2,000 towards subscription. Subscription for…

A: Subscription is the main source of income for Not-for-Profit Organizations. Total Subscriptions…

Q: Salaries and Wages Expense (1) Close revenue accounts Close expense accounts B Close net…

A: Golden Rules of Accounting: Account Debit Credit Personal Accounts The Receiver The…

Q: ! Required information [The following information applies to the questions displayed below.] In…

A: CONTRACT COSTING Contract Costing is a Variant of Job order Costing System which is applied in…

Q: if the ask price of a stock is £5 and the bid price £3 and you have invested £100m on this stock…

A: The liquidation cost of the stock would be (Euro5 - Euro3) / Euro5 * 100 = 2.6%. Explanation: The…

Q: Management Company field"

A: The owner and/or the management company is the one that has been registered with the relevant…

Q: How do you create a loan in Quickbooks? A. Select Banking > Create Loan B. Use the loan manager C.…

A: Lets understand the basics. Quickbook is a accounting software used worldwide by the many accounting…

Q: stay the same. get worse. get better.

A: Company make many purchases some on cash terms but some are done on account so that cash can be used…

Q: if during the yr total assets increase by 77,000 and total liabilities decrease by 17,000 by how…

A: Lets understand the basics. As per balance sheet equation, total assets are always equal to total…

Q: A sales associate presents an owner with an offer for $175,000 on behalf of a buyer. The owner…

A: As per the legal contractual relationships law, An offer can be declined by either the offeree or…

Q: A company pays $881,600 cash to acquire an iron mine on January 1. At that same time, it incurs…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: On January 1, 2020, Doone Corporation acquired 60 percent of the outstanding voting stock of Rockne…

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

Q: What’s the rate of return you would earn if you paid $1,500 for a perpetuity thatpays $105 per year?…

A: The Time Value of Money (TVM) states that money received on the present date carries more value than…

Q: A sugar manufacturing company started production in the year 2012. At that year, it produced 40000…

A: For determining the production level of each year. The production unit needs to be added by the…

Q: Share Capital, P50 par Share Premium Retained Earnings Acquirer 20,000,000 4,800,000 6,000,000…

A: To answer these questions, we need to first calculate the consolidated shareholders' equity and the…

Q: Financial data of the Beta Co. for October are presented be low in transaction form. 1. Began…

A: The accounting equation states that assets are equal to the sum of liabilities and equity. Business…

Q: Acquirer Company purchased the net asset of Acquiree Company (excluding cash) by paying P250,000…

A: a. The Consolidated Equity is calculated as follows: Acquirer's Equity: P1,500,000 (book value of…

Q: If XYZ Corporation is a shareholder of BCD Corporation, how many times will BCD's before-tax income…

A: Tax relief is a reduction in the amount of tax that a person or company has to pay, for example…

Q: Wildhorse's Hotel opened for business on May 1, 2022. Its trial balance before adjustment on May 31…

A: Adjustments to be made 1. Insurance= 1800/12=150 to be booked as expense 2. Supplies Expense=…