Before processing a batch of invoices, the accounts payable clerk sums the quantities billed. The sum obtained is best described as a(n): A. financial total B. grand total C. record count D. hash total E. cross-footing total

Q: Under the accrual basis of accounting, revenue is recorded O when earned and realizable O when earne...

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the r...

Q: A farmer sows a certain crop. It costs $240,000 to buy the seed, prepare the ground, and sow the cro...

A: In this question , there is a farmer sow certain crops and we calculate net present value (NPA) in p...

Q: Sb 5-4 Calculate SUTA Tax r each of the following independent circumstances calculate the SUTA tax o...

A: Under the provisions of SUTA The maximum earnings subject to tax is $8500 Computation of taxable ear...

Q: Question 18 of 75. for the Qualed Which of the following statements is TRUE regarding Form 582 and t...

A: the correct option with proper explanation are as follows

Q: Yarra Fabrication estimates that its manufacturing overhead will be $2,297,600 in year 1. It further...

A: Prime cost means the addition of direct material and direct labor and other direct expenses. Manufac...

Q: What is the effect of omission of prepaid expense in retained earnings at the end of year 2? a. Can...

A: A basic Accounting equation is given as under;   Assets = Equity + Liabilities    Meaning,  Total As...

Q: Zebra Company has determined the 2021 net income to be P 5,000,000. Revenue received in advance in 2...

A: Adjusted net income = Net income calculated - unearned revenue - Loss on sale of equipment Where,  U...

Q: Calculating Standard Quantities for Actual Production Guillermo's Oil and Lube Company is a service ...

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

Q: E ratio on the date of the last Treasury Stock Transaction? Net Income after taxes = $353,018 Last...

A: Price earning ratio (P/E) ratio refers to the concept which evaluated the present market value of a ...

Q: Alpha Bravo established a T-shirt designing business on October 1, 2021. The following are Bravo Des...

A: It is the book in which all the transactions are posted into accounts from journal entries. Every le...

Q: Which of the following is not a characteristic of non-counterbalancing error? a. If not detected, t...

A: The errors which are not automatically corrected in the following accounting period is known as Non-...

Q: On January 1, year 1, Bray Company purchased for P 240,000 a machine with a useful life of ten years...

A: Solution Concept When there is change in depreciation method and the change is justifiable , the car...

Q: Pine Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the ...

A: Solution..   Net credit sales = $6,500,000  Beginning accounts receivable = $600,000  Ending account...

Q: The COSO Enterprise Risk Management Framework ___ A. stresses that effective risk management is com...

A: Risk Assessment: A risk assessment is the consolidated exertion of recognizing and examining potenti...

Q: If a firm total income is Rs. 10300000, the marginal relief available to the firm is: None of the ab...

A: Marginal relief is applicable if a assessee is charged surcharge on his income tax and if such surch...

Q: During September, Aparna had sales of 148,000, which made a gross profit of 40,000. Purchases amount...

A: Cost of goods sold = Sales - Gross profit Cost of goods sold = 148,000 - 40,000 Cost of goods sold =...

Q: Please compute the sales tax and the credit card expense for this purchase. $80 sale with a 5% sales...

A: Calculation of sales ta and credit card expenses are as follows.

Q: What is the effect of omission of accrued expenses in assets at the end of the year of error? O No e...

A: Accrued expenses are expenses that are recognised in the books of accounts before they have been pai...

Q: f the error was discovered at Decembe nts Receivable, P 150,000; Credit Retained

A: There has been an error in recording sales revenue . The sale revenue year 2021 is recorded in 2022....

Q: In which of the following methods, issues of materials are priced at pre-determined rate? None of th...

A: Standard price method : Under this method, materials are priced at some predetermined rate of standa...

Q: ecording of next year's sales as sales of the current year will a. not affect retained earnings at ...

A: Answer) The correct Option is (A) not affect retained earnings at the end of next year Justification...

Q: Problem 4: A piece of equipment used in a business has a first cost of P 50,000 and is expected to h...

A:

Q: These were issued at £1.50 per share. On February 20X8 Dr made a 2 for 3 bonus issue. Before account...

A: Retained earnings balance after bonus shares = 717,000 - 300,000 Retained earnings balance after bon...

Q: Which of the following describes the best way to build/create a balanced scorecard? O a. Step 1. Cre...

A: Balanced Scorecard- A balanced scorecard is a statistic for measuring managerial performance. It is ...

Q: on-recording of purchases during the current and the non-inclusion of the goods purchased in ending ...

A: Errors in accounting are the mistakes conducted while entering the accounting transactions in the bo...

Q: The projected benefit obligation is the measure of pension obligation that __is not sanctioned und...

A: The three components of pension expense 1. Service cost, 2. the interest cost,  3. expected return o...

Q: What is the principal amount of the investment?

A: Investment refers to those mechanism which is used by the company for the purpose of generating inco...

Q: The data shown were obtained from the financial records of Italian Exports, Inc., for March: Estima...

A: The budgeted income statement contains all of the line items found in a typical income statement, wi...

Q: If the statement of financial position error is discovered in a subsequent accounting period, what a...

A: The error in the financial statement could be cause due to any mathematical mistakes or other reason...

Q: Before the year began, the following static budget was developed for the estimated sales of 100,000....

A: A flexible budget is basically considered as those budget which adjusts them self to the interest or...

Q: Sagada Company's summary of cash records show the following for the year 2022, its first year of ope...

A: The net income is calculated as difference between total revenues and total expenses. for cash basis...

Q: What are some pros and cons of the CERES CSR reporting framework i.e. the measure tools, reporting s...

A: CERES CSR defines the corporate social responsibility of companies and their resultant action toward...

Q: Institution-based view argues that the success and failure of firms are enabled and constrained by i...

A: Institution-based view refers to the view that devises strategic choices as a product of the dynamic...

Q: Find Total Capital: Tier 1 capital = 350 Subordinated unsecured debt, 15-year remaining maturity = 9...

A: Bank needs to maintain various ratios and tier 2 capital is the 2nd layer of capital which needs to ...

Q: 1) A Dutch petroleum company purchased a barge for $1,300,000. The estimated life in 20 years, at wh...

A: Comment: We’ll answer the first question since the exact one wasn’t specified. Please submit a new q...

Q: 1.Find the Weighted Average Contribution Margin Ratio

A:                In Marginal Costing we arrive at contribution margin by deducting variable costs from...

Q: 1. Z. Net, an accountant, owns a business with the following assets and liabilities. Please note Cap...

A: A T-account is explained as,

Q: On dissolution of a firm, the Balance Sheet revealed that total creditors' 50,000, Total Capital 48,...

A: Solution..   Capital = ₹48,000  Creditors = ₹50,000  Cash  = ₹3,000  Loss on realisation = ? 

Q: Distinguish the rationales for some companies to adopt environmental accounting as part of their acc...

A: Environmental accounting is the accounting in which we identify, measure and communicates the activi...

Q: In year 2022, collection of interest income is credited to Interest Expense. What is the effect of t...

A: Solution Concept When the income is not recorded the effect is understatement of the revenue and it ...

Q: Prepaid Insurance of P 60,000 was overlooked at the end of 2021. What would be the adjusting entry i...

A: Note: overlooking of prepaid insurance means insurance expense are understated, due to which income ...

Q: he collection of customer’s account is credited to accounts payable. What is the effect of the error...

A: Answer) The correct Option is (D) No Effect Justifications: If collection from customer is credited ...

Q: Caine Company exchanged a car from inventory for a computer to be used as a long-term asset. The fol...

A: As per IAS 16, Property, plant and Equipment If asset is purchased for value which includes payment ...

Q: Accrued rent income of P 25,000 was overlooked at the end of 2021. What would be the adjusting entry...

A: Accured income means income earned but yet not received.  Following is the adjustment entry for accu...

Q: Which of the following is the incorrect effect of counterbalancing errors? a. None of the statement...

A: Counterbalancing error is made when  an error is made that cancels out another error. For example th...

Q: : An employer in Nesconset, New York, employs three individuals, whose taxable earnings to date (pri...

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: Mort is the owner of an apartment building containing ten identical apartments. Mort resides in one ...

A: Net income (NI), also known as net profits, is calculated by deducting sales from cost of goods sold...

Q: In economics, the multiplier effect refers to the fact that when there is an injection of money to c...

A: GIVEN   In economics, the multiplier effect refers to the fact that when there is an injection of mo...

Q: Calculate the amount of rebate u/s 87A in the case of a resident individual having a total income of...

A: >Rebate u/s 87A is provided to the taxpayers that are having their taxable income below the amoun...

Q: Depreciation of equipment during 2021 was overstated by P 16,000. What would be the adjusting entry ...

A: An adjusting journal entry is a journal entry made in a company's general ledger at the end of an ac...