Read Section 1361 1. What are the 4 requirements? 2. What Form is used to elect S Corporation?

Q: The predetermined overhead rate for Crane Company is $4, comprised of a variable overhead rate of $2…

A: The study of variances between actual behavior and predicted or planned behavior in budgeting or…

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

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

Q: Mark is a young business student at the Florida State University , who works part-time as a…

A: Introduction A business asset is something that has present or future economic worth to the company.…

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A: Stockholder's Equity - Stockholder's Equity includes the amount contributed by shareholders issued…

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A: Income statement is a financial statements of a firm which includes all expenses, revenue, income…

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A: First of all, One must know, the meaning of the given Qualitative characteristics of Financial…

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Q: 2. Prepare the journal entries corresponding to these transfers. Also, prepare the journal entry for…

A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…

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A: Differential cost : Difference between the two cost alternative is called the Differential cost.…

Q: Use the journal to plug into the needed information.

A: Worksheet A worksheet employed by the accounting division to simulate and analyze account balances…

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A: Bonds means the instrument where the bond holder gives money to bond issuer and in return bond…

Q: Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500. Record the…

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

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A: In the U.S. the cost flow assumptions include FIFO, LIFO, and average. (If specific identification…

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A: For the sales  Bank A/C debit.       $1600,000  To Revenue A/C.             $1600,000 For sale of…

Q: Supper Company Ltd., reported the following stockholders’ equity on its balance sheet at June 30,…

A: Preferred stock This is a type of stock that has characteristics of both stocks and bonds.  It…

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A: Child and dependent care credit is kind of tax subsidy for a taxpayer for the cost borne by the…

Q: True or False: In accounting, depreciation represents the decrease in a long-term tangible asset’s…

A: A method of accounting known as depreciation spreads out the cost of an item over the period of that…

Q: O (The following information applies to the questions displayed below) Patel and Sons Incorporated…

A: 1 )Budgeted & actual output    =   20,000 units 2.,)Budgeted variable overheadcost per unit…

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A: The cash inflows a business experiences from ongoing operations and outside sources of investment…

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A: CONCEPT Differential analysis is a decision-making tool that is used by the management to evaluate…

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A: A variance is the difference between an actual measured result or an anticipated results. it…

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A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: Cash Dividends Land Accounts payable Retained earnings $6,000 Accounts receivable 4,000 Common stock…

A: Answer: Total assets = Current assets + Fixed assets From the given data : Current assets = Cash +…

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A: ANSWER CONTAINS TWO STATEMENT :- 1. STATEMENT OF TRADING AND PROFIT OR LOSS FOR THE YEAR ENDED 31…

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A: Segment Margin: Segment margin refers to the calculation of profit for each product line / segment…

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A: A flexible budget is a budget that can be adjusted with the company's new volume level and any other…

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A: Solution: Par value is the per value of a common share set by a corporation's charter. It is not…

Q: Which of the following would not be considered an analytical procedure?

A: The correct answer is: (A) Projecting an error rate by comparing the results of a statistical sample…

Q: Ledger the following information that I have journalized into            1-Feb Inventory   600…

A: General Ledger A general ledger serves as the mechanism for maintaining a corporation's economic…

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A: Contribution margin: The difference between the sales and the variable costs is called contribution…

Q: On January 1, Year 1, Hanover Corporation issued bonds with a $56,500 face value, a stated rate of…

A: Bonds Payable: Bonds Payable is an long term debt issued by the government and company's to raised…

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A: Concept Cost transferred out is the sum of total cost added in the department plus cost transferred…

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A: As that would seem to be the case,The costs associated with Group C are entirely comprised of FIXED…

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A: Trial Balance  A trial balance is a bookkeeping worksheet where the balances of all ledgers are…

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A: Introduction:- “Du-Pont Analysis” is a method of performance measurement. It was started by the…

Q: Show Attempt History Current Attempt in Progress Pronghorn Corp uses a periodic inventory system and…

A: Answer : Weighted average cost = Total cost / Total units Weighted average cost = ($600 + $1920…

Q: On January 1, Year 1, Victor Company issued bonds with a $750,000 face value, a stated rate of…

A: Interest Expense :Interest Expense is the cost of borrowing money from banks and others. Lender…

Q: A statement of cash flows is generated to show which of the following? a. The revenues the…

A: Cash Flow Statement - Cash Flow Statement is the financial statement that shows cash related…

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A: The prepaid expenses are the expenses that are paid in advance. The adjustment entries are prepared…

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A: Standard cost is the expected cost that would incur for producing a unit of product under standard…

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A: Earnings per share is the amount available to each common stock outstanding out of the net income…

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A: Note:- Since you have posted a question with multiple sub-parts, we will solve the first three…

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A: Introduction:- Paid-in Capital is the money that is received by the company from the public  for the…

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A: Preference shares, also known as preferred stock, is an exclusive share option which enables…

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A: Calculation of rent payable expense for the year Rent payable expense = Beginning balance of Prepaid…