Aira would most likely control what amount?
Q: On June 30, Year 3, Campbell Company's total current assets were $503,000 and its total current…
A: Working capital is calculated as difference between current assets and current liabilities. The…
Q: Date 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 12/31/28 Interest Cash Received Revenue Amortized…
A: Calculation of fair value adjustment of (e) (160890-160300) =590
Q: Grace Carol Associates surveys American eating habits. The company’s accounts include Land,…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: The Dubious Company operates in an industry where all sales are made of account. The of 1.70% of…
A: Net income is the difference between the revenue earned during the year and the expenses incurred to…
Q: For each of the following subsequent (post-balance-sheet) events, indicate whether a company should…
A: The phrase "events occurring after the balance sheet date," also referred to as "subsequent events,"…
Q: Use the information in the adjusted trial balance presented below to calculate current assets for…
A: Assets :— It is the resources owned by company in business. These are reported in balance sheet.…
Q: Clay, a California taxpayer, has depreciable business assets. His correctly computed Federal…
A: In California, taxpayers are required to make adjustments to their federal adjusted gross income…
Q: Is the following a potential control weakness? A computer network and personal computers support…
A: Internal control can be thought of as a system consisting of five main components: control setting,…
Q: During the year, Wright Company sells 390 remote-control airplanes for $120 each. The company has…
A: Specific Identification - Under this method company uses specific inventory to the production or…
Q: A company reported the following items for 2020: Accounts receivable balance, beginning of the…
A: Allowance for Uncollectible Accounts - Allowance is a contra ledger account prepare to account…
Q: A company purchased computers for $200,000. The installation charge of the computer was $10,000.…
A: Depreciation is the decrease in the value of the asset. The depreciation is a noncash expense for…
Q: Corrao Foods Corporation has 8,000 shares of 7%, $10 par value, cumulative preferred stock and…
A: Dividend per share: Dividend per share is calculated for Preferred stock as well as Common Stock.…
Q: cash flows from financing activities does not include a. issuance of stock b. interest received c.…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: (ii) Tonson Plc had acquired a machine on 1 January 2020 at a cost of £100,000 with an estimated…
A: Depreciation Expense = Cost -Salvage ValueEstimated Useful Life Impairment Loss = Carrying Amount…
Q: Required information [The following information applies to the questions displayed below.] The…
A: Dividends are the distribution of profits to the shareholders of the company like equity…
Q: 1. Express the balance sheets in common-size percents 2. Assuming annual sales have not changed in…
A: Lets understand the basics. Common size comparative statement is a statement which is expressed in…
Q: Explain the role of the accountant in the international environment.
A: Accountants are people who are accounting professional with a professional degree in accounting.…
Q: Outdoor Company manufactures camping tents from a lightweight synthetic fabric. Each tent has a…
A: a) Standard Material cost for 1700 tents: = 1700*4*5.25 = $35,700 Actual Material cost for 1700…
Q: Iron King Corporation had the following transactions during 2019: Jan. 1. Issued 6,000 ordinary…
A: The amount received in excess of par value on issuance of ordinary shares is recorded as additional…
Q: Land Transactions on the Statement of Cash Flows Cameron Corporation purchased land for $175,000,…
A: Lets understand the basics. Cashflow statement is divided into three types of activity which are,…
Q: Kohler Corporation reports the following components of stockholders' equity at December 31 of the…
A: Stockholder's Equity - Stockholder's Equity is the section in the balance sheet. It includes…
Q: authorized J. Guerrero to operate as a franchisee for an initial franchisee fee of P1,500,000. Of…
A: Note receivable is one of the current asset being used in business. Unearned revenue is that revenue…
Q: Problem 2-11 (AICPA Adapted) AN 01-& residos Pearl Company maintains a checking accounts at the City…
A: Bank reconciliation is prepared so that, the correct balance of cash in the bank can be known.
Q: $41,000 25,000 12,000 $70,000 54,000 41,000
A: Net present value = Present value of net cash flow - Amount to be invested
Q: Marin Factory provides a 2-year warranty with one of its products which was first sold in 2025.…
A: Journal entries are used to record business transactions in chronological order under double entry…
Q: equired: Complete a T-account worksheet. Based on the T-account worksheet, prepare the statement of…
A: Cash flows statement is one of the financial statement of the business which shows all cash inflows…
Q: United Apparel has the following balances in its stockholders' equity accounts on December 31, 2024:…
A: The dividend is declared from the retained earnings of the business. The shareholders' equity…
Q: Oriole Corporation accumulates the following data relative to jobs started and finished during the…
A: Overhead controllable variance It is the difference between the actual variable overhead costs and…
Q: The following information relates to the pension plan for the employees of RR Co.: 1/1/19…
A: The gain or loss on plan assets is the difference between the actual return on plan assets and…
Q: Suppose you just bought an annuity with 11 annual payments of $16,400 at a discount rate of 13.5…
A: Present value refers to a concept of time, value, and money that is issued for estimating the…
Q: Crane Company issued $255,000 , 7%, 10-year bonds on January 1, 2022, for $273,767 . This price…
A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…
Q: The equity balances of Memory Company as of the end of the reporting period are: Ordinary share…
A: The treasury shares are the common shares purchased by the company, which means the company…
Q: 19 The 10% GST is applicable in this question. The perpetual system is used. On May 1, Retailer Co.…
A: The first step in the accounting process is to create journal entries, which are used to record a…
Q: Problem 2-11 (AICPA Adapted) AAD 01-& eldos Pearl Company maintains a checking accounts at the City…
A: Bank reconciliation is prepared so that, the correct balance of cash in the bank can be known.
Q: January 1, 2024, balances: Pension asset Prior service cost-AOCI (amortization $6 per year). Net…
A: Pension refers to a sum of money paid by the company to the employee every month after the employee…
Q: Required information [The following information applies to the questions displayed below.] A recent…
A: Cash flow statement is the financial statement that records all the cash inflow and cash outflow…
Q: Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets…
A: Balance Sheet - Balance Sheet is a financial statement that includes assets, liabilities and…
Q: At the beginning of 2020, your company buys a $34,400 piece of equipment that it expects to use for…
A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and teat,…
Q: Tonson Plc had acquired a machine on 1 January 2020 at a cost of £100,000 with an estimated useful…
A: The financial statement refers to the financial position of the company by preparing the income…
Q: Budgeted sales are $200 in April, $240 in May, and $280 in June. You expect to collect 80% of a…
A: Cash inflow from sales during a particular period the amount of cash received by the entity from the…
Q: Required: Calculate G & G limited working capital cycle (cash operating cycle) in days.
A: DSO represents the average number of days it takes for the company to collect payment from its…
Q: $863,468. The net cash flows estimated for the two p Net Cash Flow Hydraulic Excavator ash Flow Core…
A: Year Net cash flow PV factor @10% Present value (Net cash flow* PV factor) 1 263,000 0.909…
Q: Unit data: Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced…
A: Variable Costing - In this costing method, variable costs are considered while preparing the cost of…
Q: On December 31 of the current year, Jerome Company has an accounts receivable balance of $321,000…
A: Sales are made on cash basis and credit basis. the amount to be collected from Sales made on credit…
Q: What four principles did the FASB conclude were necessary to implement the objectives of the…
A: FASB:- FASB stands for the Financial Accounting Standards Board. It is a private, non-profit…
Q: Territory and Product Profitability Analysis Coast to Coast Surfboards Inc. manufactures and sells…
A: Income statement :— It is one of the financial statement that shows profitability, total revenue and…
Q: Macon Mills is a division of Bolin Products, Inc. During the most recent year, Macon had a net…
A: ROI means the return of investment. It is the percentage return earned by the entity on the invested…
Q: Net Present Value—Unequal Lives Project A requires an original investment of $97,800. The project…
A: Time value of money :— According to this concept, value of money in present day is greater than the…
Q: INVENTORY COST FLOWS - CONTINUED a) Periodic System with a FIFO cost flow assumption.
A: Under a periodic inventory system, the cost of goods sold is determined periodically, such as at the…
Q: Presented here are the financial statements of Marigoid Company Assets Cash Accounts receivable…
A: Cash Flow Statement - Cash Flow Statement is a financial statement that includes inflow and outflow…
Aira is the manager of babe, a profit center of the el corporation. Her unit reported the following for the period just ended:
| Contribution Margin | P5,000,000 | ||
| Period Expenses | |||
| Managers salary | 1,000,000 | ||
| Depreciation Expense | 1,600,000 | ||
| Allocated administrative costs | 755,000 | 3,355,000 | |
| Profit center income | 1,645,000 |
Aira would most likely control what amount?
A. 5,000,000
B. 1,000,000
C. 1,355,000
d. 1,645,000
Step by step
Solved in 3 steps
- Mr. Bulls is the manager of triangle offense, a profit center of the windy city corporation. His unit reported the following for the period just ended: Contribution Margin P5,000,000 Period Expenses Managers salary 1,000,000 Depreciation Expense 1,600,000 Allocated administrative costs 755,000 3,355,000 Profit center income 1,645,000 Mr. Bulls would most likely control what amount?A. 5,000,000 B. 1,000,000 C. 1,355,000 d. 1,645,00020. The following is a summarized income statement of CoolKid Co.'s profit center No. 44 for March: Contribution margin Period expenses: P70,000 Manager's salary Facility depreciation Corporate expense allocation Profit center income P20,000 8,000 (33,000) P37.000 5,000 Which of the following amounts is most likely subject to the control of the profit center's manager? А. P70.000 P50,000 C. P37,000 D. P33,000 B,The following is a summarized income statement for McClaron Manor Co.'s profit center 12608 for April: Contribution Margin $ 176,000 Period Expenses $ 12,000 Manager' s Salary $ 2,100 Corporate Expense Allocation $ 8,100 $ (22,200 ) Net Income $ 153,800 Which of the following amounts is most likely subject to the control of the profit center's manager? (CPA, adapted) Multiple Choice Contribution Margin of $176,000 and Period Expenses of $14,100. Contribution Margin of $176,000. Contribution Margin of $176,000 and Period Expenses of $22,200. Contribution Margin of $176,000 and Period Expenses of $12,000.
- Susan Hansen is the manager of American Autos. American Autos provides three types of services, Sales, Repairs, and Rebuilds. Susan needs to provide a profit analysis to the CEO at the end of the current fiscal year so the pricing and marketing strategies can be adjusted as needed. She has gathered the following information for the company. Cost # of employees Maint Hours HR Hours: Revenue Marketing $219,000 Sales $992,000 5 50 100 Support Departments Maintenance $320,000 Repairs $1,302,000 7 300 25 HR $49,000 Rebuilds $2,108,000 2 25 180 Sales $364,000 12 800 1,200 Operating Units Repairs $870,000 16 1,900 Rebuilds $1,098,000 6 2,600 8007. Responsibility Accounting: a. What is a cost center? Give an example of a cost center b. What is a Profit center? Give an example of a profit center c. What is an investment center? Give an example of an investment center d. What is management by exception: e. The Hydride Division of Murdoch Corporation is an investment center. It has $1,000,000 of operating assets. During 2022, the Hydride Division earned operating income of $400,000 on $5,000,000 of sales. Murdoch's companywide return on investment or desired rate of return is approximately 20% SHOW WORK FOR CREDIT! 1. What is the ROI? 2. What is the margin? 3. What is the turnover? 4. What is the residual income?The following data are available for Segment X of XYZ Company: Net income of the segment $50,000 Contribution to indirect expenses 40,000 Controllable income by manager 48,000 Assets directly used by the manager 360,000 Assets under the control of the segment 240,000 manager Determine the return on investment for evaluating 1. the income performance of the manager of Segment X and 2. the rate of income contribution of the segment. Answer:
- Meargia Plastics is evaluating its plastic bottles division. The accounting manager has come up with the following data for the year: contribution margin of $570,000, controllable fixed of $228,000, and noncontrollable fixed costs of $57,000. Required: 1. What is the controllable margin? Controllable Margin 2. What is the total contribution by profit center (CPC)?The following data relate to Department no. 3 of Tsing Corporation: Segment contribution margin 540,000 Profit margin controllable by segment manager 310000 Segment profit margin 150000 On the basis of this information, Department no. 3's variable operating expenses are: Select one: a. $80,000. b. $160,000. c. $230,000. d. $390,000. e. not determinable.GGX is the general manager of the Jung Division, and his performance is measured using the residual income method. GGX is reviewing the following forecasted information for the division for next year. Category Amount (thousands) Working capital P 1,800 Revenue 30,000 Plant and equipment 17,200 To establish a standard of performance for the division’s manager using the residual income approach, four scenarios are being considered. Scenario 1 assumes an imputed interest charge of 12% and a target residual income of P1,500,000. Scenario 2 assumes an imputed interest charge of 15% and a target residual income of P2,000,000. Scenario 3 assumes an imputed interest charge of 18% and a target residual income of P1,250,000. Scenario 4 assumes an imputed interest charge of 10% and a target residual income of P2,500,000. What is the residual income for scenario 2?
- he following are some accounts pertaining to the rooms division of XYZ Inn. Salaries and wages $10,000 Operating supplies $5,000 Sales $200,000 Laundry $9,000 Commissions $2,000 Dry cleaning $500 Uniforms $200 Fringe benefits and payroll taxes 10% of salaries and wages Other expenses 3% of sales Using the information provided above, what would the total rooms revenue be equal to on the rooms department schedule for XYZ Inn?a) Company XYZ has a monthly rental amount of 2000 USD, credit payments (1200 per year), materials 30USD, Labor 70 USD, Unit selling price is 150$. Please find BEP and prepare a profit and loss statement. Going forward company also decided to look at their productivity from a multifactor perspective. To do so, CEO has determined his labor, capital, energy and material usage and has decided to use dollar as the common denominator. His total labor hours are now 300 per day and will increase to 308 per day. His capital and energy costs will remain constant at $350 and $150 per day respectively. Material costs for 100 logs per day are $1000 and will remain the same. Because he pays an average of $10 per hour. Please calculate the productivity for current system and with professional buyer.The Custodial Division of Clark's Corporate Services (CCS) has assets of $1.2 million. During the past year, the division had profits of $228,000. CCS has a cost of capital of 7.5 percent. Ignore taxes. Required: a. Compute the divisional ROI for the Custodial Division. b. Compute the divisional RI for the Custodial Division. Complete this question by entering your answers in the tabs below. Required A Required B Compute the divisional ROI for the Custodial Division. Divisional ROI % Required A Required B >
