What are the basic accounting rules?

Q: On a consolidated balance sheet as of January 2, 20x4, what should be the amount for each of the…

A:

Q: how much is the non-controlling interest in net assets as of December 31, 2022?

A: P Company is the holding company of S company. P company holds 80% shares in S company. The shares…

Q: MAJU Print Manufacturing Sdn. Bhd. Manufactures and sell high-technology printing press each year.…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Periodic inventories are maintained. (d)   Show proof of Cost of Goods Sold calculated under the…

A: Inventory valuation refers to the methods used by the company to determine the value of its…

Q: Question 1 Recently, Mewah Designs expanded its market by becoming an original equipment supplier to…

A: The equivalent units for production can be computed using various methods as FIFO and weighted…

Q: Which of the following types of messages might the Active Auditor display? Question 9 options:…

A: The active auditor display is a tool used by the auditor while carrying out the audit procedures. It…

Q: Boxes-and-Stuff, a box-packing and mailing company in a small town along the Gulf Coast, lost a key…

A: Accounting financial statements provide a snapshot of a company's operations, financial status, and…

Q: Please prepare a consolidated budget pivot table in Excel by budget class and year.  Please upload…

A: As required Excel has been shown here with all the required working

Q: a. Compute the book value of the ordinary shares at December 31, 2023. b. Compute the book value of…

A: a) Computation of Book Value per share : Particulars Amount Amount Preferred Stock   260,000…

Q: Sales (8,400 units) $ 764,400 Variable expenses 445, 200 Contribution margin 319, 200 Fixed expenses…

A: Contribution margin per unit = Total contribution/Number of units sold

Q: The statement of financial position for the partnership of AA, BB and CC who share profits in the…

A: Calculation of Total Loss/Deficit on Liquidation and Amount Paid to Partners:   Particulars…

Q: Ex 7- Long-Term Note Payable a) What if the Einstein Corporation decided to raise capital (Cash) by…

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

Q: , taxes OMR ('000) 3,250 Share Capital 17,750 Statutory Reserves 38,750 Profit (previous year) 2,400…

A: Financial Statements: The treatments of all the transactions are done in journal records and then…

Q: 7.4A Extract a trading and profit and loss account for the year ended 30 June 20X8 for G Graham. The…

A: The trading account and profit and loss account are prepared to calculate the gross profit and net…

Q: Exercise 5: Prepare journal entries to record the following merchandising transactions of Dean…

A: Journal entries are the primary reporting of the financial transactions in the books of accounts.

Q: How much is the total net cash flow? O P430.000 O P270.000 O P620.000 O P695,000

A: Total net cash flow refers to the net cash generated by the business during the period from its…

Q: “IFAC defines the public interest as the net benefits derived for, and procedural rigor employed on…

A: Introduction: International Federation  of Accountant (IFAC): It is an international association for…

Q: 2,150,000 1,750,000

A: Journaling is the process of recording business transactions in accounting records. This activity…

Q: The amortization of prior service costs will affect the pension expense for the period along with…

A: solution for above requirement are as follows

Q: 18. Sam conveyed a farm to Sue for her life and then upon her death to Ingrid. Sue dies and her…

A: As Sue have not her own farm, it was conveyed by sam for her life.. Legal heirs of Sue entitaled on…

Q: Many companies recognize that their cost systems are inadequate for today's powerful global…

A: The cost of a corporation's inventory at the conclusion of an accounting period is known as…

Q: Nicholas Technologies operates two divisions Hardware Services and Software Services. During the ce…

A: The income statement represents the net income or net loss that is calculated by deducting the…

Q: Prepare journal entries for 2019.

A: Investment in bonds journal entry Purchase of bondsThe company can make the investment in bonds,…

Q: Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as…

A: A. Collection period is 60 days. Half of the sales of each month are credit Thus credit sales of…

Q: Hi  how did you get the 2.73554? Can you elaborate because your answer is near the correct answer

A: Solution: Present value of annuity due is computed as = Annuity amount * PVAD of 1 at given interest…

Q: the amount that should be reported by Lucas Corporation as the lease liability on its December 31,…

A: Computation of Lease Liability at the commencement of the lease:         Year ending Lease…

Q: At the shares of 10% P100 par value. operations and was authorized to issue 100,000 ord shares of…

A: Shares subscribed are the applications received for the purchase of the shares that are about to be…

Q: Sheridan Company lends Carla Vista Company $9400 on April 1, accepting a four-month, 6% interest…

A: Introduction: The amount of interest generated by a corporation over a given time period is referred…

Q: On January 1, 2023, Legis Company issued 10-year, P200,000 face value, 6% bonds at par (payable…

A: Basic EPS is a tool used to measure the profit of a company in per share basis. Again, Diluted EPS…

Q: Ramos, Inc. began work in 2017 on contract #3814. The contract price is $7,200,000. The contract is…

A: when there is percentage of completions is applied in order to calculate the profit till date. the…

Q: What are the Alternative Courses of Action to deal with the problems that needs to be identify,…

A:

Q: mployee Census (Data) iscount rate (assumption) ecalculation of the future benefit obligations…

A: Employee benefits refer to the perks provided to an employee by the employer beyond his/her salaries…

Q: 5. Compute the following financial ratios for 2015 and 2016 and  interpreting the results in the…

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

Q: On Jan. 1, 2020, Heat Company reported a deferred tax liability of Php1,000,000 and a deferred tax…

A: A deferred tax asset is an item on a company's balance sheet that reduces its taxable income in the…

Q: On January 1, 2021, Tonge Industries had outstanding 540,000 common shares ($1 par) that originally…

A: Basic earnings per share: - Basic EPS measures how much a business earns per share without going…

Q: Questions 7-9 are based on the following lease amortization schedule. The five payments are made…

A: The amortization schedule helps to know the outstanding balance at year end.

Q: On January 5, 2021, Sisig Corp. purchased 50,000 shares of Toyomansi Company ordinary share for…

A: As per International Financial Reporting Standard 9, An investment in equity instruments is valued…

Q: Discuss one aspect of the Statement of Cash Flows that can be difficult and write a short paragraph…

A: Introduction:- A cash flow statement denotes total amount cash is inflows and cash outflows your…

Q: Question 39 TTn. produces denim bets. The production budget for the next tour months is My S0 unts…

A: The production budget is prepared to estimate the number of units to be produced during the period.

Q: Newcomer UsTubeTV (UTV) is a movie and news streaming service. UTV uses a balanced score- card to…

A: Balances Scorecard refers to the process of monitoring and measuring the daily work performance by…

Q: Discuss how a deferred tax provision can arise under IAS 12, Income Taxes, and the available methods…

A: the above requirement are discussed below

Q: 13. A discounted loan of $3,000 at a simple discount rate of 6.5% is offered to Mr. Jones. If the…

A: Discounted loan means that the loan is provided at the discounted rate and the loan is for a given…

Q: 4. For the year ended December 31, 2008, Carter would recognize gross profit from contract # 3814 in…

A: Under percentage of completion method revenue is calculated on the basis of the percentage of cost…

Q: what is financial market?  Explain its functions.

A: Financial markets are the marketplaces where financial instruments, securities, and derivatives are…

Q: Dividend Distribution Assignment – Brescia Corporation Brescia Corporation's shareholders' equity…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: During the measurement period, which of the following may affect the amount of goodwill from…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: University Printers has two service departments (Maintenance and Personnel) and two operating…

A: Cost refers to the amount of money incurred by the entity for running its daily operations.

Q: On December 31, 2022, ABC Corporation combined net income together with its Bicol branch amounted to…

A: Annual depreciation expense = (Cost - salvage value)/useful life                    = 200,000/5…

Q: Which of the following is a series of constant cash flows that occur at the end of each period for…

A: Cash inflows in the business means when transactions related to cash are considered. It can be…

Q: How much is the loss on excess freight to be recognized in 2023? How much is the inventory to be…

A: On December 31, 2022, the home office of ABC Company sent a shipment of merchandise to its Manila…