An apprenticeship contract is one whereby a firm owner undertakes to provide full vocational training to another person who has completed at least: O a. 14 years of age Ob. 16 years of age Oc. 18 years of age d. 12 years of age QUESTION 20 Which of the following clauses is not included in the (MOA) of a company? DIG
Q: Calculate the number of days' sales in Rudolph's receivables at December 31, 2002. • Calculate…
A: Introduction:- Ratio analysis used identify the business performance of the company. It is used to…
Q: Required: ● Prepare the cash flows from operating activities section of the statement of cash flows,…
A: Cash Flow Statement is prepared by the Business Entity to ascertain the cash involved in various…
Q: Prepare journal entries for the transactions listed below and post them to the T-accounts. a.…
A: The journal entries are prepared to record the day to day transactions of the business in the books…
Q: Questions #26-27 are based on the following: A company had the following cash flows for the year:…
A: Solution.. Cash flows from investing and financing activities
Q: Blanca Company has the following independent bond issuances. a.) Issues $600,000 bonds at 96. b.)…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Case 1: Individual Plan Sammy's Service Center currently employs six technicians. The entire shop is…
A: Pay based on Flat rate hours is payment made on the basis of flat hours instead of actual hours…
Q: The financial year of Abi Sy ends on December 31 each year. On May 30, 2022, Abi Sy received an…
A: The answer should be first option which is P250,000 should be treated as unearned revenues. PER…
Q: Sylvestor Systems borrows $50,000 cash on May 15 by signing a 90-day, 8%, $50,000 note. 1. On what…
A: The note payable is treated as liability in the business. The note that matures in less than one…
Q: Statement 1: The owner's personal withdrawals for the year cause a decrease in profit. Statement 2:…
A: Since you have posted multiple questions, as per the guidelines only the first question will be…
Q: 1. Materials are added at the start of the process in the first department of JG Manufacturing…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: On February 1, 2023, Ivanhoe Contractors agreed to construct a building at a contract price of…
A: TO ASCERTAIN THE CURRENT YEAR'S PROFIT IT IS NECESSARY TO RECOGNIZE THE COST AS WELL AS REVENUE ON…
Q: How would the entries in part (a) change if the securities were classified as available-for-sale? (C
A: 1. Sale value of investment in shares of platter Inc. = 5500 shares x $41 =$ 225500 2. Gain on sale…
Q: all other shareholder qualify for Section 351, how to determine if Shareholder D, who contributes…
A: Immediately after the transfer, the contributing shareholders must be in control. Shareholders…
Q: Statement of Cash Flows The following is a list of the items for Lombardo Company's 2019 statement…
A: Cash flow statement is the financial statement that records the cash inflow and cash outflow…
Q: For the accounting memo, you have to write THE CONCEPT of relevant cost. DON'T INCLUDE ANYTHING…
A: A relevant cost is a word used in management accounting to refer to costs that could have been…
Q: Question: Is there an “ideal” number of factors in the Evaluation process? Should factors be limited…
A: There is no “ideal” number of factors for the Evaluation process, as it will depend on the scope and…
Q: Predict future total costs when sales volume is (a) 378,000 units and (b) 418,000
A: Introduction: - High-low method is one of the techniques that is used to separate fixed and…
Q: beginning of 2021. All remaining shares are common stock. The company was not able to pay dividends…
A: Solution... Annual preferred dividend = Number of preferred shares * par value per share * rate…
Q: Viva sells its waterproof phone case for $124 per unit. Fixed costs total $247,000, and variable…
A: CONTRIBUTION MARGIN RATIO Contribution Margin is Computed by Deducting Total Variable Cost From…
Q: When there is a net profit in a merchandising entity, which of the following accounts may not be…
A: The closing entries are prepared to close the temporary accounts of the business. The temporary…
Q: Admission of a new partner by purchase of existing partnership interest Jacob and Kyle are partners…
A: Partnership is the firm which is run by two or more partners on the basis of partnership agreement,…
Q: TB MC Qu. 17-63 Hsu Company manufactures two products... Hsu Company manufactures two products (A…
A: COST ALLOCATION Cost allocation is the process of identifying, aggregating, and assigning costs…
Q: Suppose a company has debt of $71 million and a debt to total assets ratio of 0.1. This means that…
A: The financial ratios are used to compare the financial statements of the business. The debt to asset…
Q: On January 1, 2017, Diamond Company purchased equipment for P5,600,000. The equipment had an 8-year…
A: Carrying amount is the value written in the financial statements after deducting any accumulated…
Q: The costs incurred for Job A are: Total labor and overhead $37,225 Total other direct costs $10,775…
A: Bid price is the optimal price at which a job should be accepted. It is the price decided by the…
Q: 2. JAX Company had 200,000 ordinary shares of P20 par value and 20,000 shares of P100 par, 6%…
A: DILUTED EARNING PER SHARE Diluted earning per share is the ratio between Net income & total…
Q: es Navarre Energy Research specializes in developing and commercializing new products. It is…
A: The purpose of economic value added (EVA), which is often referred to as economic profit, is to…
Q: Direction: Attached the computation. 1. Mattheus Company had a beginning Work in Process inventory…
A: Weighted Average Method :— In this method, Equivalent units is calculated by adding equivalent units…
Q: Explain why profit should be reconciled to net operating cash flows. Give examples from this…
A: Profit is reconciled to Net operating cash flows to determine the actual cash flows from operations.…
Q: Gee Hee Traders started operating in 2021. For the year ended 2021, the sales, purchases, and…
A: The cost of the products sold is the entire amount your business spent on costs directly related to…
Q: Statement 1: The adjusting entry to recognize earned revenues that were received in advance will…
A: Adjusting entry is the journal entry which is made at the end of reporting period to adjust the…
Q: Year Year 2 33,000 Year 3 33,000 Year 4 28,000 the company is using the payback period method, and…
A: Introduction:- Payback period method : It is the time taken for the cash flow of incomes for a…
Q: information and want to calculate the debt-to-equity ratio for the firm. Return on Equity: 23.87%…
A: the ratio analysis is performed by the company in order to know the financial health of the company…
Q: Roll Board Inc. manufactures several models of high-quality skateboards. The company’s ABC system…
A: Activity Based Costing :— In this approach, All manufacturing overhead cost considered as variable…
Q: Jean and Dan both work. Each earns a salary of $46,000, but only Jean is a member of a registered…
A: A retirement savings plan, or RRSP, is one that you create, which we then register, and to which…
Q: from income? Answer area C
A: It is necessary for any one to pay the proper amount of taxes and by paying taxes one can have good…
Q: Required: (1) Compute the operating income or loss (2) What is the company's break-even point in…
A: Break Even Point is that point of sales at which Business Entity earn no profit also suffer no loss.…
Q: month's sales. The April 30 ending finished goods inventory is 75 units. Prepare the production…
A: The budget for production is prepared to estimate the units to be produced for the required sales…
Q: E15-2 Xenia Corporation issued 3,000, 8%, 5 year, $1,000 bonds dated January 1, D12, at 100. 1)…
A: The bonds are issued at face value when market rate is equal to the coupon rate of bonds payable.…
Q: Failure to prepare the adjusting entry on accrued income will understate profit.
A: Accural means the expense have been incurred but not paid yet or the income has been earned but not…
Q: QUESTION 6 The Millard Division's operating data for the past two years are provided below: Year 1…
A: Solution... Year 2 Net operating income = $360,000 Return in investment = 36% Average operating…
Q: What is Xi's net cash inflow for March? 1. Prepare a cash flow statement 2. Calculate the cash…
A: Cash flow budget is an estimated statement of all cash receipts and all cash payments that are…
Q: TB Problem 21-167 (Algo) The Murdock Corporation reported the following balance sheet data for 2021…
A: Cash flow statement is a financial statement that records cash inflow and cash outflow during the…
Q: Cash Accounts Receivable Inventory Land Buildings and Equipment Total Assets Accounts Payable Notes…
A: Ratio Analysis -The ratio is the technique used by the prospective investor or an individual or…
Q: Cycle Time and Velocity Bemidii Company has the following data for one of its production…
A: The question has asked to compute the following figures. Cycle time: Cycle time refers to the…
Q: The records for Redbud's defined benefit pension plan showed the following for the current year:…
A: The defined benefit pension plan is the obligation for the entity towards employees to compensate…
Q: The following data are taken from the financial statements of Sigmon Inc. Terms of all are 2/10,…
A: Accounts receivable turnover represents the efficiency of the entity in collecting its debts from…
Q: If the company can decrease the Receivables Turnover by 6 days, at the current sales level, what…
A: The receivable turnover ratio is the proportion of account receivables that are due to the entity…
Q: 11. Bolsa Co. estimates that 60,000 special zipper will be used in the manufacture of industrial…
A: CALCULATION OF OPPURTUNITY COST Total amount invested = 60,000 special zipper X P6 per zipper…
Q: Hello, Everytime I make the calculation of the attached pic from step 2 I found different value…
A: The lease is a written contract between two parties in which one party gives its asset on rent to…
Q21,22
Step by step
Solved in 2 steps
- 24. Hire purchase agreement refers to A. an agreement between the lessee and the lessor for using a particular asset over a period of time against the periodic payments B. an agreement whereby a person hires goods for a period of time by paying installments and can own the goods at the end of the agreement if all installments are paid C. arrangement whereby one party sells goods to a second party with the promise to repurchase the goods at a future point in time D. an agreement whereby one party hires a particular asset for a set time period at a fixed monthly cost12 Under PFRS 15, when shall a franchisor recognizes revenue from its contingent franchise fee, also known as sales-based royalty revenue? Group of answer choices When the franchisor satisfies the performance obligation in relation to the initial franchise fee based on the accounting estimate using historical evidence When the sales of the franchisee occur When the franchisee signs the document evidencing the franchise agreement When the franchisor collected the nonrefundable upfront fee(a) Which of the following is a "financial instrument' as defined by MFRS 9? Glve reasons for your answer. (1) Leases (i) Trade receivables (il) An investment in an associate (iv) A non-controlling interest in a partnership (v) Provision for employee benefits
- Determine if this shall result in recognition of liabilities 5. signing of employment contract by a new employee a. yes b. noStep 1 of the "five-step model" states that certain conditions must be satisfied before an entity can account for a contract with a customer. Which of the following is not one of these conditions? Oa The entity and the customer have approved the contract and are committed to perform their contractual obligations. O b. The payment terms can be identified. O citis certain that the entity will collect the consideration to which it is entitled. Od. Each party's rights about the goods or services concerned can be identified.19An agreement signed by both the franchisee and franchisor is called Group of answer choices Board Resolution Franchise Offer Franchise Agreement Contract Affidavit of Franchise Ownership
- Differentiate between an "SAOG" And "SAOC" Company according to PROMULGATING THE COMMERCIAL COMPANIES LAW NO 18/2019Explain with correct explanation Which of the following is not a period of employment for long service leave purposes? A. Preconditional B. Conditional C. Unconditional D. Apprenticeship7 What will a contingency note contain? Review Later A circumstance where a company may have a liability A disclosure of future contracts to be performed A disclosure of all future commitments of the company A set of criteria required to be able to recognize revenue
- 21 -I- Obtaining permission from the Ministry of Industry and TradeII- Meeting of the General Assembly of the FoundationIII- Registration and announcement of the companyIV- Preparation of the main contractObtaining permission from the V-Capital Markets BoardHow should a joint stock company be established, in order? A) II-III-I-IV-VB) IV-II-III-I-VC) IV- I-V-II-IIID) V-II-I-IV-IIIE) II-IV-I-V-III15. If an entity gives a product warranty that has been issued directly by a manufacturer, dealer or retailer, which IFRS is likely to cover this warranty? a. IAS 32 Financial instruments - Presentation b. IAS 37 Provisions, contingent liabilities and contingent assets c. IFRS 17 Insurance contracts d. IFRS 9 Financial instruments 16. IFRS 17 provides that insurance contracts should a. Be covered by IAS 32 and IFRS 9 b. Comply with all existing IFRS c. Generally continue to be subject to existing accounting policies. d. Comply with the IFRS Framework document. 17. An insurance contract can contain both deposit and insurance elements. An example might be a reinsurance contract where the cedant receives a repayment of the premiums at a future date if there are no claims under the contract. Effectively this constitutes a loan by the cedant that will be repaid in the future. IFRS 17 requires that a. Each payment by the cedant is accounted for as loan advance and as payment for insurance…t27 In IFRS 16 par. 74, initial direct costs incurred by a lessor in consummating a manufacturer’s or dealer’s lease areA. charged to unearned income in the first period of the lease term.B. charged to expense in the first period of the lease term.C. deferred and allocated over the lease term in proportion to the recognition of rent revenue.D. deferred and allocated over the lease term on a straight-line basis.