The depreciation cost is included in the cash flow analysis since it is a book cost Select one: True O False

Q: 5 employees left. How much is the salaries expense in 20x3? *

A:   No of employees 100 No o Shares option for each employee 1000 Shares Fair Value of share Op...

Q: Wildhorse Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it to Cha...

A: calculation of lease receivable , sales price and cost price are as follows

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A: Given information, Direct labor per unit =P 6 Direct materials per unit=P 2  Variable manufacturing ...

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Q: Below is the adjusted trial balance for the partnership of J, K and L. group of CPA's in the practic...

A: The income statement explains the financial performance of the company for a particular period of ti...

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A: Interest revenue is the amount of revenue earned as interest during the given period. Effective inte...

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A: The activity when a new person is admitted to the partnership is referred to as admission of partner...

Q: Unlimited Doors showed supplies available during the year of $1,700. A count of the supplies on hand...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: Parker Company uses a job-order costing system and applies manufacturing overhead to jobs using a pr...

A: job cost sheet is such a sheet that is prepared of the actual cost of a job. the actual cost of job ...

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A:   Period Project- A Project- B Project- C 0  $        (150)  $        (120)  $          150 1...

Q: Luna Sea Sushi, Inc. has total costs of $90,000 when it sells 40,000 units. If total fixed costs are...

A: Total Cost = $ 90,000 Units Sold = 40, 000 Units Fixed Cost = $ 50,000 

Q: On December 1. 2021 Ebenezer Buenaventura opened EB Computer Shop, by investing P250,000 cash from h...

A: Journal entry recording is the initial step in accounting process, under which atleast one account i...

Q: Sort the following contribution margin income statement line items in the correct order from top dow...

A: The income statement shows the net income or net loss that is calculated by deducting the expenses f...

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

Q: The information in the statement of cash flows helps investors, creditors and others do all of the f...

A: The information in the statement of cash flows helps investors, creditors and other :- show the i...

Q: The company uses a perpetual inventory system and has a highly labour-intensive production process, ...

A: Introduction: A work in progress (WIP) account is an inventory account in accounting that contains i...

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A: Given that : Single order from Interstate Trucking for 1900 custom seat cushions . Order produce in ...

Q: How much is the income tax due assuming the use of the 8% optional tax?

A: Optional tax rate is the optional which the tax payer can choose to be taxed on that rate when the c...

Q: 2. CVP analysis allows management to determine the relative profitability of a product by * Keeping ...

A: CVP Analysis is one of the cost volume profitability analysis which shows changes in profits level o...

Q: Match each phrase with its definition. 1. Seller's description of a cash discount granted to buyers ...

A: Discount is the amount of deduction or allowance that is being given to the buyer for purchasing mor...

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A: journal entry for above transaction are as follows

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A: To close out your expenditure accounts, debit the income summary account & credit every expendit...

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Q: On January 1, 2022, Lucas Company acquired 85% of outstanding shares of Luna Corp. The consideration...

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A: Ratio analysis represents the comparison of various financial items of the company. It indicates pro...

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A: FIFO is first in first out inventory valuation method in which inventories which are purchased first...

Q: On January 1, 20x1, SUMMER HEAT Co. grants 1,000 share options to each of its 100 key employees cond...

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

Q: Scenario 5—In 2021, The U.S. government sends $100 of stimulus checks to households, which household...

A: Answer: $50. Explanation: Investment refers to the part of income which is saved for capital formati...

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A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed wh...

Q: Accounting Equation Katherine Brewer is the stockholder and operator of Our Idol LLC, a motivational...

A: Accounting equation is also written as balance sheet equation. It shows how assets are equal to liab...

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A: Decommissioning cost is the cost which will be incurred when the asset useful life is over or when t...

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A: Amortization expense = Cost of the patent / Useful life of the patent

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Q: Calculate the Gross Margin of the most recent year.  Enter answer as decimal

A:

Q: Sheffield Book Warehouse Ltd. distributes hardcover books to retail stores. At the end of May, Sheff...

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Q: Tyler Corp has the following budgeted sales for the first 4 months of next year: January $80,000 $35...

A: Amount collected from December sales in the month of January = $132,000 × 30%40% = $99,000  

Q: Is it right that she needs not to worry on her exposure on said tax?

A: Fringe benefits are the benefits which the employee of a company receives from its employers during ...

Q: When the trial balance of ABC Ltd as at 30/9/2008 was prepared, the debit side was short by $ 1195. ...

A: A suspense account would be used to provisionally retain transactions in which it is unclear where t...

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A: Degree of operating leverage- The degree of operating leverage process how much a company's operatio...

Q: New Scotland Co. reported a total comprehensive income of $2,275,000. Cash from operations:

A: Comprehensive Income means income from continued as well as discontinued operations . It also includ...

Q: Purchase Returns and Allowances and Merchandise Returns. Customer Refunds and Customer Allowances.

A: Purchase means buying goods from supplier . The difference between purchase return and allowances an...

Q: 1. Wrenn acquired 35% of Loy's voting stock on January 1, 2020, for $2,000,000. During 2020, Loy ear...

A: 1. Dividend distributed by Loy in 2020 = $500000 Wrenn receive dividend = 35% x $500000 = $175000, w...

Contract Costing

Contract costing is about tracing particular costs related to a particular contract entered into with the customer. It is one of the forms of job order costing. It is useful in long-term contracts at the most. It is seen that substantial time is required for the completion of the contract which takes different accounting periods. Thus, it is very much helpful for recognizing the costs associated with it and accounting in their specific accounting periods.