Complete accrued interest payable and journal entry 1-2  Dec 31 please and thank you

Q: what does COGS means

A: Income statement: It implies to a financial statement that shows all the expenses incurred in a…

Q: QUESTION 1 a) Diana started her business on 1 July 2021. transactions during July 2021 were as…

A:

Q: 12. Rovena is a self-employed CPA whose 2022 net earnings from her business (before the H.R. 10 plan…

A: As per IFRS for the Year 2022 if  Some one Is Self Employed & Keogh Account is the Maximum…

Q: After the accounts have been adjusted at January 31, the end of the fiscal year, the following…

A: Journal entry: When any transaction is made it is recorded by passing a journal entry.  Double entry…

Q: Interior Space Ltd (Interior Space) is an architectural services company. Invoices for services…

A: Assertion Transactions include sales, purchases, and wages paid during the accounting period.…

Q: Events after the reporting period   Magpie Ltd operates a fleet of fishing trawlers. The following…

A: SOLUTION:-   DATE CLASSIFICATION JUSTIFICATION 17 JULY 2022 Non-adjusting The storm which…

Q: The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost…

A: Introduction: - High-low method is one of the techniques that is used to separate fixed and…

Q: Can a business, or a company decide to use a specific costing method half way through a year?

A: There are different costing methods available for businesses. The selection of the costing method…

Q: Enter the following information into a manual journal with credits/debits:

A: The accrual basis of accounting is the method by which revenues and expenses are recognized when…

Q: Foley Systems is considering a new project whose data are shown below. Under the new tax law, the…

A: NPV stands for Net present value which states the difference among PV (stands for Present value) of…

Q: Question 2 On September 1, 2022, Alpha Co borrowed $10,000,000 for a term of 1 year at an interest…

A: Borrowing cost means where the assets like building , take substantial time to build , then interest…

Q: What are the amounts of the unrecognized tax benefits? h) What are the penalties and interest…

A: Federal R&D Should be Reduced From Taxable Income.

Q: On December 31, 2021, you sold your gently used car to your friend, Student Y. Instead of a full…

A: When the Fixed Asset Sold Out they Were Credited by Removing From the Books and Receiving the Cash…

Q: Alyssa Company issued P 10,000,000 bonds on January 1, 2021. The bonds pay interest annually at 10%…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: What are the criteria for classifying a lease as operating or capital? Why is there a difference…

A: Criteria for classifying a lease as operating or capital: There are five different types of leasing…

Q: Problem 2 During the current year, Polly Company purchased a second hand machine at a price of…

A: Introduction: A cost known as a capitalized cost is an item that raises the cost base of a fixed…

Q: Break-even point in peso sales and in units The margin of safety in peso, in units and in percentage…

A: PARTICULARS DETAILS AMOUNT(P) Sales P50*120000 6,000,000 Less- Variable costs P30*120000…

Q: Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near…

A: Preparation of flexible budget are as follows

Q: Ese Corporation has the following seles mix for its ever products A, 20% 30% and C. 50% Fed costs…

A: When a company sells more than one product it uses sales mix method to know proportion of different…

Q: Gizmo Inc. purchased a one-year insurance policy on October 1 for $3,000. The adjusting entry on…

A: Prepaid Expense is an asset that arises when the payment for an expense is made but it is not yet…

Q: Diane's Designs purchased a one-year liability insurance policy on March 1 of a year for $3,240 and…

A: Prepaid insurance means the insurance paid in advance. It, basically, represents the amount of…

Q: Management accounting- mergers and aquisitions Mergers are often categorised as horizontal, vertical…

A: A horizontal merger is a merger between two companies that operate in the same industry and at…

Q: b) Sofea Enterprise runs a retail business. All cash and cheque receipt and payment are recorded in…

A: Cash book is the one which is prepared in order to report all the cash and bank transactions. It…

Q: Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the…

A: calculation ending inventory and cost of goods sold are as follows

Q: Discuss whether the dividend growth model or the capital asset pricing model should be used to…

A: The dividend growth model and the capital asset pricing model are both methods that can be used to…

Q: II. Pension data for the Phoenix Company include the following for the current calendar year:…

A: The amount that is charged to an organization's profit and loss statement as an expense in relation…

Q: There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes,…

A: A note is a formal instrument that expresses an obligation to repay a debt to a creditor or an…

Q: Direct Materials Variances The following data relate to the direct materials cost for the production…

A: Direct Material cost variance shows the effectiveness of purchase manager and production manager.

Q: Unearned revenue Expenses Wages expense otal expenses STARK COMPANY Income Statement For Year Ended…

A: A profit and loss statement is a statement of a company's profitability. With the help of this…

Q: Forecast Sales Volume and Sales Budget For 20Y6, Raphael Frame Company prepared the sales budget…

A: The budget is a guideline for the organization, With the help of this budget company can estimate…

Q: If money can be invested at 4.4% compounded quarterly, which is larger, $8177 now or $11,000 in 7…

A: The time value of money is a concept of money that says money is worth it now, not money received in…

Q: Bob Jones bought a new log cabin for $60,000 at 5.75% interest for 15 years. Prepare an amortization…

A: The question is based on the concept of Financial Management.

Q: Under the cash receipts method, which of the following is true (mark all that apply): OA. The cash…

A: Payment receipts are recorded in the period in which they are received when using the cash…

Q: Question: Briefly discuss what is internal control is all about using the definition?

A: Every company requires internal controls. Internal controls are quite important for an organization…

Q: Mr. Josh Kho, the operations manager of Achos Merchandising Corp. Is worried about the result of its…

A: CVP Analysis Companies can use Cost-Volume-Profit Analysis (CVP analysis), also known as Break-Even…

Q: partnership has the following accounting amounts: Sales Cost of Goods Sold General and…

A: The income statement includes all the revenue and expenses. The resulting amount after deducting…

Q: ! Required information [The following information applies to the questions displayed below.] O'Brien…

A: Variable Cost :— It is the cost that changes with change in units. It is constant in per unit for…

Q: Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for…

A: Formula: Direct labor rate variance (LRV)=Standard rate-Actual rate×Actual hours Direct labor…

Q: Use the following information to prepare a bank reconciliation for Young Company at June 30: 1.…

A: Bank Reconciliation Statement :— It is the statement that is prepared to reconcile the balance as…

Q: What will his insurance company pay?

A: Given in the question: Auto policy insurance coverage = 25/50/10 Collision coverage deductible =…

Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its…

A: Federal income tax, FICA social security tax and medicare tax are dedcuted from employee gross pay.…

Q: Margin of Safety The Whitehead Company has sales of $200,000, and the break-even point in sales…

A: The margin of safety (MoS) is the difference between the sales level in the company and the…

Q: Journalize entries for recognizing accounts receivable. E9.3 (LO 1) Presented below are two…

A: Since you have asked two independent situations, we will do the first one for you. Please post the…

Q: Trustees must not just act honestly. They must be prudent and exercise the degree of care which they…

A: A trustee seems held to a high level of duty of care. A trustee should administer the trust's…

Q: The following shows the time in hours between towns in Jamaica: Alexandria - Brown's Town…

A: Shortest time: It is the time the alexndria takes to reach guy's hill. To calculate shortest time we…

Q: Make a schedule for all the examples for the following Depreciation Method through excel: a.…

A: Depreciation- As a financial asset is used up, depreciation takes place. Various forms of real…

Q: What are ethical principles in auditing

A: Financial statement audits or independent reviews and evaluations of a company's financial…

Q: A firm has a float of 50 million shares, 5 million restricted shares, and 10 million s treasury…

A: Introduction:- A share is a number of equity ownership or shares in a company. Shareholders are…

Q: How does General Systems Theory work in finance and production and how do the decisions affect each…

A: General System Theory Addressing issues like organizational behavior, strategic restructuring, and…

Q: Required: Prepare a statement of changes in equity for Argon Enterprises Inc. for the year ended 31…

A: Shareholder's Equity Equity held by shareholders refers to the sum that a company's founders have…