Which of the following is the primary source of revenue for a manufacturing business?A. the production of products from raw materialsB. the purchase and resale of finished productsC. the provision of intangible goods and servicesD. both the provision of services and the sale of finished goods

Q: What accounts are used to recognize a retailer’s purchase from a manufacturer on credit?A. accounts ...

A: Purchase of goods on credit means inventory has been purchased but payment has not been made yet. Pa...

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A: Calculation of Inventory. Inventory Turnover = Cost of goods sold/ Inventory. Cost of goods sold= Sa...

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A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three sub...

Q: 14. Which of the following statements disqualify someone from using Form 1040EZ to file a tax return...

A: To use the form, a taxpayer had to have taxable income of less than $100,000, less than $1,500 of in...

Q: The following are selected items derived from Dibb Company’s adjusted trial balance on December 31, ...

A: Income statement is one of the financial statement which shows all incomes and all expenses of the b...

Q: 7. Number of days' sales in inventory days 8. Ratio of fixed assets to long-term liabilities 9. Rati...

A: Number of days' sales in inventory=365Inventory turnover Ratio of fixed assets to long-term liabilit...

Q: Capital balances in Ayayai Co. are Dene $61,00O, Aneta $36,200, and Harriet $26,600. The partners sh...

A: A partnership is an agreement between two or more partners where partners are agreed to work togethe...

Q: Which of the operating budgets is prepared first?A. production budgetB. sales budgetC. cash received...

A: Budgets are the estimates or forecasts that are being made for future period of time. Budget prepara...

Q: Which of these transactions requires a debit entry to Cash?A. paid balance due to suppliersB. sold m...

A: Cash is one of the asset held by the business, for which normal balance is debit balance. Any increa...

Q: Dvidends are payable to shareholders of record on declaration date, 30 Uay Required: 1. Prepare a ca...

A: Solution:- Preparation of a cash budget for the month ending July 31, 2021, indicating how much, if ...

Q: Explain the possible IFRS treatment of bank loans

A: Solution International financial reporting Standards (IFRS) are a set of accounting rules for the fi...

Q: ..new D Bonita Leasing Company agrees to lease equipment to Windsor Corporation on January 1, 2020....

A: Calculation of Annual Rental = {(Fair value) - (residual value x PV of $1 10% for 7 years)} / PV of ...

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A: Trial Balance: A trial balance is an accounting worksheet where the balance of all records is ordere...

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A: Accounting principles seem to be the broad norms and standards that businesses must adhere to while ...

Q: The Articles of Incorporation for Trendy Sunglasses, Corp.states that the corporation's purpose is t...

A:  Ultra vires act means doing an act which is beyond the power of the company. 

Q: Garcia Company rents out a portion of its building to Jerry Company for $1,000 per month. On August ...

A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized i...

Q: The Whizbang Company makes a special type of toy. Each top takes 6 ounces of a special material that...

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A: The question is based on the concept of Financial Accounting.

Q: For which of the corporate distributions listed below may loss be recognized? Question options:   ...

A: Introduction Corporate distributions are the distribution of cash, stock or property to its sharehol...

Q: Additional information: • Inventory as at 31 December 2021 amounted to RM79,030. • Dumbo Trading is ...

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Q: 6.1 If two years' preferred dividends are in arrears and the board of directors declares cash divide...

A: Dividend is the part or share of profits that is being distributed to the shareholders. Cumulative p...

Q: Bonita Leasing Company agrees to lease equipment to Windsor Corporation on January 1, 2020. The foll...

A: Solution Lease liability is a financial obligation for the payment required by a lease, discounted t...

Q: Mark’s Music is a store that buys and sells musical instruments in Ontario, where the HST rate is 13...

A: Solution A journal is a company's official book in which all business transaction are recorded in ch...

Q: the total expenses as of December 31. Required: 1. Based on the above data and your audit, determine...

A: Here student post different question we will solve first question for you.  If you need additional k...

Q: One operating cycle of a business, which could be a month, quarter, or year, is commonly referredto ...

A: The operating cycle is the average amount of time it takes for a company to invest money to produce ...

Q: State and explain three (3) differences between a job costing system and a process costing system

A: Introduction: A costing system is used to keep track of the expenses that a company incurs. The syst...

Q: 2. Dos Enterprises has historically reported bad debt expense of 5% of sales in each quarter. The en...

A: The bad debt expense is estimated on the basis of sales revenue earned during the period.  The allow...

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A: Partnership is one of the agreement or arrangement between two or more than two persons, under which...

Q: Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column.

A:

Q: Assume you are the accounting manager for Logan’s Landscaping & Design.  On December 1,  2013, Logan...

A: The correct answer for the above motioned question is given in the following steps 

Q: Allen's Rest Well Resort is a resort cottage located incorporated in Jamaica. The company is a regis...

A: Tax Written Down Value (TWDV): The tax written down value (TWDV) of a resource is the use remaining ...

Q: Carla Vista Company is a retailer operating in the province of Ontario, where HST is 13%. Carla Vist...

A: Introduction: The goods and services tax (GST) is a value-added tax applied on the majority of produ...

Q: If current assets are $100,000 and current liabilities are $42,000, what is the working capital?A. 2...

A: Working capital is the amount of capital or money needed for day to day operations of the business. ...

Q: Which of the following are assets? (Select all that apply.) Land Supplies Expense Wages Payable Supp...

A: The balance sheet represents the financial position of the business with assets and liabilities on a...

Q: provide complete solution

A: The formulas needed for the upper limit and tolerance limit are:- The formula for prediction interva...

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A: Free Cash Flow - The formula for Calculation  - Cash Flow from Operating Activities - Capital Expend...

Q: A. Work out the changes for the above transaction. Remember to include the opening capital. Record t...

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Q: The quarterly sales in millions for AutoKo Corporation, an automobile dealership company over the pa...

A: To compute the seasonal factor of Quarter 3, the first average sales are required to be calculated a...

Q: 3. HARI OM TAT SAT Ltd. Delhi invoices goods to its Mumbai and Kolkata offices at 20% less than the ...

A: Branch accounting is a bookkeeping method that keeps independent accounts for each of a company's br...

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Q: Measures of liquidity, Salvency, and Profitability The comparative financial statements of Marshal I...

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Q: What are intracompany comparisons? What are intercompany comparisons? How do they differ?

A: The examination of two or more procedures, papers, benchmark datasets, or other items is referred to...

Q: Which of the following pairs increase with credit entries?A. supplies and retained earningsB. rent e...

A: There are two sides of account, used in accounting. One is debit side and other is credit side. All ...

Q: Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning ...

A: Average Accounts receivable = (Beginning Accounts receivable + Ending Accounts receivable) / 2 = ($5...

Q: Monty Corp. reported net sales $610,000, cost of goods sold S366,000, operating expenses $151,000, a...

A: Formula: Gross profit rate = ( Gross profit / Net sales ) x 100

Q: View Policies Current Attempt in Progress Flint Corporation issued 1,900 shares of stock. Prepare th...

A: Stock issue is the main source of capital for every company. They may issue as many shares as have b...

Q: ABC Company showed in its memorandum records the following balances for the year 2020: Fair value of...

A:  Actual return on pension plan assets =Fair value of plan assets on 31/12/2020 - Fair value of plan ...

Q: If a journal entry includes a debit or credit to the Retained Earnings account, it is most likely wh...

A: Retained earnings is the amount of earnings or income that is being accumulated and collected at the...