the board of directors authorizes a $1,000,000 restriction of retained earnings for a future plant expansion, the effect of this action - to O increase stockholders' equity and decrease total liabilities. O decrease total retained earnings and increase total liabilities. decrease total assets and total stockhold' equity. O reduce the amount of retained earnings available for dividend declarations.
Q: The following accounts are taken from a balance sheet. 1. Cash 2. Retained earnings 3. Equipment 4. ...
A: Solution Balance sheet is a financial statement thats reports a company's assets ,liabilities and sh...
Q: estimated that 10% of the sales amount received from customers would relate to the gift set to be aw...
A: The company is selling their main products along with a coupon code. A Customer needs to send a cheq...
Q: Question 16 What is the ending value of Raw Materials (also referred to as Raw Materials Inventory...
A: Predetermined Overhead Rate=Total Factory Overhead CostTotal Direct Labor Hours
Q: Required information [The following information applies to the questions displayed below.] Louis fil...
A: Refund of tax is the sum of money which is given back to the taxpayers who paid tax in excess of the...
Q: Required: Calculate the amount of gift tax due this year and Casey's unused exemption equiva (Refer ...
A: The answer is stated below:
Q: Most people, economists included, consider child labor to be morally unacceptable and would support ...
A: child labour is exploitation of children through form of work that leads to deprivation of children ...
Q: Explain the tort liability of a partnership and the partners.
A: Tort refers to a situation when a partner injures a third person due to negligent behavior, violatio...
Q: Golden Gate Construction Associates, a real estate developer and building contractor in San Francisc...
A: EVA as a residual income measure of financial performance is simply the operating profit after tax ...
Q: Arabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last y...
A: The part of your gross income that is used to determine how much tax you owe in a given tax year is ...
Q: E. What dollar sales will Marlin need to generat law break-even dollars $
A: Break-even point Break-even point is that point where company is having no loss and no profit, whic...
Q: Enter the January 1, balances in ledger accounts. Journalize the January transactions. Post to the l...
A: note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: My Home gagevevVv2 | Online teachin x O ) (29) Tory Lanez Feels (feat x+ w.com/ilrn/takeAssignment/t...
A: Contribution margin = Selling price - variable cost Break even sales units = Fixed cost / Contributi...
Q: Require (a): Your business issued a 14%, $300,000, one-year, note payable on April 1, 20x1. Both the...
A: Lets understand the basics. Adjusting entry is entry which is passed to make sure that income and ex...
Q: • On September 13, 2016, AA and BB decided to combine their assets and form a partnership. The partn...
A: Partnership means where two or more person comes together to do some common business activity and ea...
Q: In which order are partnership assets distributed to the partners? Capital balances, loans, profits ...
A: ln case of partnership there is agreement between the partners. they bring capital for operations an...
Q: arding was fond of violating his employer’s company policies. As a result, he was asked by his emplo...
A: Any amount received by employees from the employer because of separation or we can say because of de...
Q: At the end of its first year, the trial balance of Pharoah Company shows Equipment $22,800 and zero ...
A: A balance sheet is a financial statement that shows the assets, liabilities, and shareholder equity ...
Q: May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P5...
A: Solution.. Ending finished goods inventory = P40,000 Beginning Finished goods inventory = P55,000...
Q: Cedar Valley is a national restoration contractor licensed in roofing, siding, gutters and windows. ...
A: 2. Allowance Method - Under allowance method company make provision of uncollectible accounts at the...
Q: The bookkeeper for Wildhorse Co. asks you to prepare the following accrual adjusting entries at Dece...
A: Adjusting entries are prepared by management to ensure the accrual basis accounting system. It is pr...
Q: 13th month pay is exempted from income tax but the exemption is only up to a certain amount. Stateme...
A: Tax refers to the percentile charge imposed by the government over the income gained by an entity.
Q: Required: 1. Prepare the entries to adjust and close books of AA and BB. 2. Prepare the opening en...
A: On September 13, 2016, AA and BB decided to combine their assets and form a partnership. The partner...
Q: rate of 1.89% until the end of 2025. How much will the investor earn/lose by 2025?
A: From To 2003 2009 Amount Invest 50000 Rate of interest 3.7% Compounded quarterly...
Q: Instructions a. Prepare the following for Machine A. 1. The journal entry to record its purchase on ...
A: Journal Entry for record for purchase and for depreciation expenses , and calculation of depreciati...
Q: Cash 11 6,530 Accounts Receivable 12 2,100 Prepaid Expenses 13 700 Equipment 18 13,700 Accumulated D...
A: Owners' equity is a part of financial statements. It indicates the investment balance of the owner.
Q: Using the weighted-average method, compute the equivalent units of production for a new company that...
A: Equivalent Units of production = Units * percentage completion
Q: Here is information related to Mingenback Company for 2022. Total credit sales $2,500,000 Accoun...
A: Bad debts refers to the portion of receivables that will not be realized by the entity.
Q: Problem a: Using the list of transactions below, provide all necessary journal entries for the Fund...
A: Fund accounting is an accounting that requires limited use of funds. The limitation on the use is im...
Q: Luckin went public in the U.S. in May 2019, listed in NASDQA and raising $561 million. Its success d...
A: Limited Liability: Limitation of liability is an economic situation in which the damages that compan...
Q: Corporation IS company involve manuracturing mining hing equipm board of directors of the said compa...
A: Equity Formula states that the total value of the equity of the company is equal to the sum of the t...
Q: Statement 1: Exclusions pertain to the computation of gross income, while deductions pertain to the ...
A: Exclusions pertaining not part of gross income. deductions pertain to the computation of net income.
Q: On January 1,2020, Striking Red Company issued 10,000 share appreciation rights to selected employee...
A: SAR's Stock Appreciation Right is a kind of compensation that is paid by the company to its employee...
Q: Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured...
A: Beginning inventory = P11,000 Cost of goods manufactured = P230,000 Ending inventory = P20,000
Q: "If the firm's ROE is too low, the firm's debt ratio must be too low." True or false? Select one: O ...
A: Return on equity (ROE) is measured as lucre divided by shareholders' equity. once a corporation incu...
Q: At beginning of July 2021. Idah & Faith (IF) Co had 25 microwave ovens in inventory costing of
A: FIFO is first in first out method of inventory valuation. In this method the o...
Q: The Oklahoma City Zoo has proposed adding to their Web site a major segment providing a virtual tour...
A: The correct solution for the above mentioned question is given in the following steps for your refer...
Q: Show Me How Intangibles: Balance Sheet Presentation and Income Statement Effects Han Company has pr...
A: Intangible Assets The Accounting of intangible assets which are taken consider the amortization cost...
Q: A machine costing $215,000 with a four-year life and an estimated $19,000 salvage value is installed...
A: Annual Straight-Line Depreciation Expense=Cost of Asset-Salvage valueUseful Life Double-Declining Ra...
Q: 25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 33 required number...
A:
Q: Use the horizontal model for the declaration of dividends on December 22, 2021. Indicate the financi...
A: The dividend is declared to the shareholders from the retained earnings of the business. The prefere...
Q: Solar Solutions began operations on January 1, 2015, and is now in its sixth year of operations. It ...
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for...
Q: a. Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning balances, a...
A: Depreciation is the amount of expense which is recorded on the income statement of the company which...
Q: Data Recovery Services (DRS) specializesS in data recovery from crasned nard drives. The price charg...
A: The service revenue is the revenue earned by providing services to its customers. Any discount or al...
Q: Required a. Assume that you are the supervisor of Department I. Choose the allocation base that woul...
A: Solution Formula for allocation Overhead allocation rate =total overhead/ allocation base Total over...
Q: Suresh Company reports the following segment (department) income results for the year. Department M ...
A: Avoidable costs are those costs that can be avoided by eliminating the department or by shuting down...
Q: The following data were taken from the records of Clarkson Company for the fiscal year ended June 30...
A: The total cost of goods manufactured is the overall cost of converting work-in-process inventory int...
Q: Diane Company has the following details for March. Cost of Direct Material used in production P31,00...
A: Prime cost means the addition of direct material and direct labor and other direct expenses. Manufac...
Q: The following accounts are taken from a balance sheet. 1. Cash 2. Retained earnings 3. Equipment 4. ...
A: 1. Asset - These are the resources which are owned by the company from which it derives future econo...
Q: which interest income is subject to regular tax in the Philippines? a.interest income from notes b...
A: Interest Income: Amounts received to an entity in exchange for lending money or allowing another com...
Q: On February 14, AA and BB formed a partnership and contributed the following assets at historical co...
A: Calculation of Capital Contributed by Partner BB Capital Contribution by BB = P 200,000 + P 80,000 +...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Question 9 of 20 View Policies - / 1 O $355000. O $179000. O $(99500). O $258500. ||| Current Attempt in Progress Pina Corporation reported net income, $79500; cash provided by operating activities, $121000; cash used by investing activities, $88000; and cash provided by financing activities, $146000. The net increase (decrease) in cash isQuestion T8 of 22 View Policies Current Attempt in Progress Whispering Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $ 3,018,500 of 8% term corporate bonds on March 1, 2020, due on March 1, 2035, with interest payable each March 1 and September 1, with the first interest payment on September 1st, 2020. At the time of issuance, the market interest rate for similar financial instruments is 6%. Click here to view factor tables As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, e.g. 458,581.) Selling price of the bonds 24 Save for Later Attempts: 0 of 1 used Submit Answer !!B с D E 1 Using the set of assumptions calculate the NPV, BCR and IRR for this project: 2 3 EBIT 4 CapEx 5 Depreciation 6 Increased working capital 7 Shares outstanding 8 Tax rate 9 WACC 10 Terminal growth rate 11 Value of debt 12 13 14 EBIT 15 Tax 16 EAT 17 Dep 18 Cap expenditures 19 Increase in WC 20 FCF 21 22 23 WACC 24 Terminal growth rate 25 Terminal value 26 27 28 Value of debt 29 Value of equity 30 Shares outstanding 31 Estimated value per share Estimated value of firm $120.0 million $25.0 million $15.0 million per year $18.0 million 4.0 million 21.00% 12.50% 4.00% $85.0 million 17.50% 21.00% 10.00% 12.50% 4.00% 1 Year 1 Year 1 Fixed over 5 years 2 F Growing at Growing at 3 G 17.50% 10.00% 4 H 5 I 6
- Question 6 XY Company is considering 5 investment projects as follows: Project Investment ($) Profitability index (PI) A 10,000 1.2 B 6,000 1.1 C 18,000 1.6 D 14,000 0.9 E 12,000 1.3 The company has $30,000 available for investment. Projects C and E are mutually exclusive. All projects can be undertaken only once and are not divisible. Required: (ii)Rank the projects PI and NPVQuestion 16 of 30 View Policies Current Attempt in Progress -/0.35 ⠀ Crane Crafts Corp. management is evaluating two independent capital projects that will each cost the company $200,000. The two projects will provide the following cash flows: Year Project A Project B 1 $66,750 $26,450 2 93,450 66,125 3 34,235 143,250 4 151,655 98,110 (a1) What is the payback period of both projects? (Round answers to 2 decimal places, e.g. 15.25.) The Payback of Project A is years and Project B is eTextbook and Media Save for Later Using multiple attempts will impact your score. 20% score reduction after attempt 2 years. Attempts: 0 of 3 used Submit Answer (a2) The parts of this question must be completed in order. This part will be available when you complete the part above. Search ♡po tained es ed 0 e Chapter 33 -Statement of Changes in Equity | 33-15 MCP 33-9 - Changes in equity The Dec. 31, 2021 balance sheet of Jasmine Corp. showed shareholders' equity of P448,700. Transactions during 2021 which affected the shareholders' equity were: (1) an adjustment to Retained Earnings for an overstatement of depreciation in 2020 P10,000; (2) gain on the sale of treasury shares, P9,000; (3) declared dividends of P60,000 of which P40,000 were paid during the year; and (4) net income after tax of P75,500. The share capital balance of P300,000 remain unchanged during the year. The retained earnings balance on Jan. 1, 2020 was a. P134,200 b. P132,300 c. P123,200 d. P114,200 MCP 33-10- Changes in equity An entity was incorporated on June 1, 2021 with an authorized
- If the board of directors authorizes a $1,000,000 restriction of retained earnings for a future plant expansion, the effect of this action is to increase stockholders' equity and decrease total liabilities. O reduce the amount of retained earnings available for dividend declarations. O decrease total retained earnings and increase total liabilities. O decrease total assets and total stockholders' equity.P Flag question The company capital structure consists of debt 250000 at 0.082, preferred stock 230000 at 11% and common stock 120000 at 14%, calculate company's weighted average cost of capital Select one: O a. 0.0341 Ob. All the given choices are not correct Oc. 0.1042 Od. 0.0621 O e. 0.0762Question 15 of 20 <. -/5 View Policies Current Attempt in Progress The following information is available for Sage Hill Corporation: Retained Earnings, December 31, 2019 $1,575,000 Net Income for the year ended December 31, 2020 $250,000 The company accountant, in preparing financial statements for the year ending December 31, 2020, has discovered the following information: The company's previous bookkeeper, who has been fired, had recorded depreciation expense on equipment in 2018 and 2019 using the double-declining-balance method of depreciation. The bookkeeper neglected to use the straight-line method of depreciation which is the company's policy. The cumulative effects of the error on prior years was $24,000, ignoring income taxes. Depreciation was computed by the straight-line method in 2020. Prepare the entry for the prior period adjustment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No…
- a. P30,000 decrease b. P40,000 increase C. P50,000 increase d. P90,000 increase Parducho receive if profits and losses are distributed based on the ratio of d average capital balances? a. P360,000 b. P387,500 c. P440,000 d. P453,200 12. Which of the following is not a component of the formula used to distribute profit? a. After all other allocations, the remainder divided according to the profit and loss sharing ratio. b. Salary allowances to the managing partners. Interest on the average capital investments. C. d. Interest on notes to partners. 13. A partner has a capital balance of P400,000 for five months, P500,000 for four months, and P600,000 for three months. The average capital balance is a. P483,333. b. P485,000. C. P491,680. d. P500,000. 14. Arzadon, Ballada and Castro are partners. Their contributions are as follows: Arzadon, P600,000; Ballada, P400,000 and Castro, services. Partners Arzadon, Ballada and Castro agreed to divide profits or losses in the ratio of 35:25:40,…Exercise 16-16 (Algo) Multiple differences; financial statement effects [LO16-2, 16-3, 16-5] For the year ended December 31, 2024, Fidelity Engineering reported pretax accounting income of $984,000. Selected information for 2024 from Fidelity's records follows: Interest income on municipal governmental bonds $ 40,000 Depreciation claimed on the 2024 tax return in excess of depreciation on the income statement Carrying amount of depreciable assets in excess of their tax basis at year-end 64,000 104,000 30,000 20,000 Warranty expense reported on the income statement Actual warranty expenditures in 2024 Fidelity's income tax rate is 25%. At January 1, 2024, Fidelity's records indicated balances of zero and $10,000 in its deferred tax asset and deferred tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2024, and prepare the appropriate journal entry. 2. What is Fidelity's 2024 net income? Complete this question by entering your…еВook Problem Walk-Through A company has a 12% WACC and is considering two mutually exclusive investments (that cannot be repeated) with the following cash flows: 1 2 3 4 5 7 Project A -$300 -$387 -$193 -$100 $600 $600 $850 -$180 Project B -$400 $133 $133 $133 $133 $133 $133 $0