from opre
Q: interest in Southwest Company on December 31, 20x4 for P320,000. During 20x5 Southwest had a net inc...
A: Under the cost method for accounting of investments , the investments are recorded at historical cos...
Q: On January 1, 2014, ABC Company, a calendar-year firm, gave a loan to XYZ Enterprises amounting to ...
A: SOLUTION CARRYING VALUE IS AN ACCOUNTING MEASURE OF VALUE IN WHICH THE VALUE OF AN ASSET OR COMPANY ...
Q: маke r Buy Allen Corporation currently makes the nylon convertible top for its main product, a fiber...
A: Fixed cost covers 20% in total Hence 152000 × 20% = 30400
Q: In a manufacturing unit, material is used as follows: Maximum consumption 12,000 units per Minimum c...
A: Re-order level: It is the point at which company should order new inventory. Minimum level: It is th...
Q: The sales mix factor shows a variance of * O Sample format: 111,111 F or 111,111 U National Co. manu...
A: The calculation of sales mix variance is shown hereunder : First, we have to assume that the informa...
Q: Which of
A: Free Cash flows are calculated with the help of following formula Free Cash Flow = NOPAT + Depreciat...
Q: result in this situation: . Filing Status: Married filing jointly Gross Income: S125,000 Pre-tax Adj...
A: According Internal Revenue Service (IRS) the tax calculation which are depend upon the filling statu...
Q: National Co.' operating income (EBIT) is P500,000. The company's tax rate is 25 percent, and its ope...
A: Solution.. Calculation of net income Operating income (EBIT) $500,000 (-) interest expens...
Q: Tibker Company entered into a four-year P5,000,000 construction contract which was completed in 2023...
A: Percentage of Completion Method In the percentage of completion method of contract first to determ...
Q: Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago A...
A: Average equity = ( Opening Equity + Closing Equity ) / 2 Current year : Average Common stockholders ...
Q: operating cash flow (OCF) i=
A: Operating cash flows are the transactions which are directly related to the purchase and sale of the...
Q: Determine the cost assigned to ending inventory and to cost of goods sold using FIFO.
A: Lets start with basic understanding. There are two system for inventory valuation which are, (1) Per...
Q: What is the percentage change in volume? * O Sample format: 11% or (11%)
A: Formula: Percentage change in volume = ( Actual Sales units - Budgeted sales units ) / Budgeted sale...
Q: using the following additional information for Abby Company, along with the information in #3 above,...
A: Cost of goods manufactured shows total costs incurred on production and manufacturing of goods. It i...
Q: Problem 14 The following information is available from the books of a manufacturing unit wherein two...
A: Introduction From the information given in the problem we have to calculate the Reorder level, Minim...
Q: Smart Phones. Inc. buys one model of smartphone, paying $2370 per case of 20 phones. Find the asking...
A: The asking price of anything is generally the amount that the seller claims they really want from it...
Q: What is National Co.’s amount of total investor-supplied (Net current asset investment and net fixed...
A: Year : 2022 •Net Current Assets investment: = Total Current assets - Total Current liabilities ...
Q: DHL Corporation issues a 7% coupon interest rate bond with a maturity of 20 years.The face value of ...
A:
Q: National Corporation had net current assets of P2,500,0 at the end of 2021. In addition, National Co...
A: When evaluating a company's financial health, net current assets, also known as working capital, are...
Q: P Company, an SME, issued 120,000 shares of P25 par value ordinary shares for all the outstanding st...
A: All business combinations of the SMEs shall be accounted for by applying the purchase method of busi...
Q: Smash It the leading sports store in the region. It was built and operated by Mateo Tan its sole pro...
A: General Journal 2016 Account Titles and Explanations Debit Credit Nov. 5 Merchandise I...
Q: Lance Company purchased 35% interest in Mila Company for P5,600,000 on July 15, 2020. SG already hel...
A: Goodwill / (gain on bargain purchase) arising from the business combination is the difference betwee...
Q: Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.
A: Cost of goods sold are the cost of the inventory which has been sold by the company during the year ...
Q: October 1, 2017, Alpha Company is interested in the business of Beta Company. Negotiations have bee...
A: Goodwill is an intangible asset related to the acquisition of one company by another. Goodwill is de...
Q: It is an axiom that may be characterized by managers making decisions that conflict with the best in...
A: Agency problem arises during the time of dissatisfaction or conflict of interest between the shareho...
Q: On January 2, 2019, TI enters into a contract with Drewry Corp. to build a new piece of equipment. T...
A: Answer:- 1. Identify the performance obligations in the contract. a. build a new piece of equi...
Q: What is the percentage change in volume?
A: % Change in volume = ( Budgeted units - Actual units )/ Actual units
Q: Which latest accounting trends do you think are prevailing in 2021 and continuing in 2022
A: Okay Technology, Block-chain,Crypto are the Buzzing words Right.Let's Explain their Impact on Accoun...
Q: 5. Which of the following statements is not true? a. If total assets decreased by P300,000 during th...
A: Accounting equation refers to the equation which comprises of assets, liabilities and the shareholde...
Q: AL Lhe end of 2019, Guanlao Farms had P 1,500,000 in owner's equity and amounts owed to creditors to...
A: As per the accounting equation, the sum of total liabilities and equity equals the total assets of t...
Q: Pierce Ltd. (Pierce) decided to change the costing method for its inventory at its December 31, 2021...
A: Answer:- Inventories are valued as per the accounting and valuation method followed by the compa...
Q: Prepare journal entries for each of the above transactions. (Credit account titles are automatically...
A: Investments can be classified into long term investments and short term investments. Long term inves...
Q: All School Logos & More (ASLM) design and manufacture school uniform crests. After production, the ...
A: Prime costs are defined as the expenditures directly related to creating finished products, while co...
Q: Which of the following is not an example of excise tax? * A. Transfer tax B. Sales tax C. Re...
A: An excise tax seems to be a tax levied directly by a government's legislative body on goods, service...
Q: What is the double-entry system, and how does it work?
A: The accounting is a process to identify the business transactions, record the transactions and prepa...
Q: ed the following tion at year-end: 2020 120,000 370,000 1,090,000 nt 4,300,00C 840,000 5,120,00C 400...
A: CFS termed as Cash Flow Statement refers to the statement which states the inflow and the outflow of...
Q: Which of the following will be included in the adjusting entry to accrue interest * ?income or inter...
A: Accrue interest income is the interest earned but not received.
Q: Ann was informed that John Lee was unable he would pay 40 cents for each dollar owed balance was wri...
A: The bad debt expense is the expense occurred due to non payment by debtors or lower payment made by ...
Q: volume variance
A: Sales volume variance measures the difference between the actual units sold and the budgeted units t...
Q: The PFRS for SMES were adopted by the Philippine Financial Reporting Standards Council from the IFRS...
A: IFRS for SMEs is a modification and simplification of full IFRS aimed at meeting the needs of privat...
Q: Cost-Capacity calculation technique takes into account a constant exponent to relate different costs...
A: Sensitivity analysis is financial analysis that determine The potential percent gain or loss in chan...
Q: Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago A...
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or str...
Q: Question 3 Penny's Construction has been contracted to build a small indoor skate park. The contract...
A: The process of recognizing the revenues of the business for a time period on a long-term project is ...
Q: A company begins the year with inventory of $52,000 and ends the year with inventory of $42,000. Dur...
A: Formula: Cost of goods available for sale = Beginning inventory + Purchases
Q: statements
A: Net position, statement of net cost and statement of cash flows are common for both for profit organ...
Q: Advice the closing inventory value as at Dec 31st There was sales commission of 9% that sales team w...
A: The Inventory shall be measured at lower of the following, Cost Net Realizable Value (NRV) Sales c...
Q: Which of the following is not a characteristic of income? Return of taxpayer's wealth Earnings con...
A: Income refers to the amount of money received/earned by an individual/entity through their efforts p...
Q: The Zoe Corporation has the following information for the month of March. (use whichever method you ...
A: Gross profit means the difference between the sale revenue and cost of production. Cost of goods sol...
Q: What is the cost price variance? * Sample format: 111,111 F or 111,111 U National Co. produces and s...
A: The formula to calculate cost price variance is - Price variance = ( Actual Price - Standard Price ...
Q: Ms.Ana,failed to signify her intention to be taxed at 8% income tax rate on gross sales in her initi...
A: Normally if she failed to signify her intention tobe taxed at 8% inco...
Plz Solve 13.6A from opreating, investing and finacing with direct method and write compution for every step
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Consider the following cash flows: Year Cash Flow 0123 $19,400 10,400 9,320 6,900 What is the IRR of the above set of cash flows? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Internal rate of return 96Problem 21-4 (Static) Statement of cash flows; direct method [LO21-3, 21-8] The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Dux Company. Additional information from Dux's accounting records is provided also.* * * l 38% Z 4:49 PM H+ Week 11 discussion Q - Read-only Read Only - You can't save changes to t... Unit 8 Discussion Question Hagag Company uses the indirect method to prepare its statement of cash flows. Please refer to the following sections of the company's comparative balance sheet and complete the fourth column to show the increase or decrease for each item listed. Please use the correct sign for each item to gain the full mark assigned (for example if the figure is negative, this must be clearly stated with brackets or with the minus sign): 2014 2013 Increase/decrease Accounts payable Accrued liabilities Long-term notes payable $ 4,000 2,000 84,000 $ 90,000 $ 6,000 1,000 90,000 $ 97,000 Total liabilities Common stock Retained earnings Treasury stock Total equity 30,000 113,000 (8,000) $135,000 2,000 74,000 (5,000) $ 71,000 Total liabilities and equity $225,000 $168,000 The company also provided the following additional information: No stock was retired. No treasury stock was…
- Exercise 21-27 (Algo) Statement of cash flows; direct method [LO21-3, 21-5, 21-6, 21-8] Comparative balance sheets for 2024 and 2023, a statement of income for 2024, and additional information from the accounting records of Red, Incorporated, are provided below: RED, INCORPORATED Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) 2024 2023 Assets Cash $ 26 $ 114 Accounts receivable 203 134 Prepaid insurance 11 6 Inventory 289 177 Buildings and equipment 384 352 Less: Accumulated depreciation (121) (242) $ 792 $ 541 Liabilities Accounts payable $ 90 $ 104 Accrued liabilities 10 15 Notes payable 52 0 Bonds payable 161 0 Shareholders’ Equity Common stock 402 402 Retained earnings 77 20 $ 792 $ 541 RED, INCORPORATED Statement of Income For Year Ended December 31, 2024 ($ in millions) Revenues Sales revenue $ 2,010 Expenses Cost of goods sold $ 1,439 Depreciation expense 41…Problem 21-17 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIESComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 405 $ 245 Accounts receivable 350 190 Inventory 500 275 Land 500 450 Building 900 900 Less: Accumulated depreciation (200 ) (180 ) Equipment 2,500 2,150 Less: Accumulated depreciation (325 ) (300 ) Patent 1,000 1,150 $ 5,630 $ 4,880 Liabilities Accounts payable $ 600 $ 400 Accrued liabilities 150 130 Lease liability—land 130 0 Shareholders' Equity Common stock…Problem 21-16 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux’s accounting records is provided also. DUX COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 117.0 $ 34.0 Accounts receivable 62.0 64.0 Less: Allowance for uncollectible accounts (3.0 ) (2.0 ) Dividends receivable 17.0 16.0 Inventory 69.0 64.0 Long-term investment 29.0 24.0 Land 84.0 40.0 Buildings and equipment 169.0 264.0 Less: Accumulated depreciation (7.0 ) (120.0 ) $ 537.0 $ 384.0 Liabilities Accounts payable $ 27.0 $ 34.0 Salaries payable 16.0 19.0 Interest payable 18.0 16.0 Income tax payable…
- Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 Skip to question [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 97,900 $ 60,000 Accounts receivable, net 89,000 67,000 Inventory 79,800 110,500 Prepaid expenses 6,000 8,600 Total current assets 272,700 246,100 Equipment 140,000 131,000 Accumulated depreciation—Equipment (35,000) (17,000) Total assets $ 377,700 $ 360,100 Liabilities and Equity Accounts payable $ 41,000 $ 54,000 Wages payable 7,600 18,200 Income taxes payable 5,000 7,000 Total current liabilities 53,600 79,200 Notes payable (long term) 46,000 76,000 Total liabilities 99,600 155,200 Equity Common stock, $5 par value 252,000 176,000 Retained earnings 26,100 28,900 Total liabilities and equity $ 377,700 $…Question 21 Use the following financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2020 using the indirect method. Kris Kringle, Inc.Balance SheetsAt December 31 2020 2019 Assets: Cash $174,525 $65,200 Accounts receivable, net 52,850 56,750 Merchandise inventory 167,750 144,850 Prepaid expenses 16,080 12,680 Equipment 290,600 245,600 Accumulated depreciation-Equipment (80,600) (97,600) Total assets $621,205 $427,480 Liabilities: Accounts payable $55,270 $45,450 Income taxes payable 10,320 12,240 Notes payable (long term) 59,200 79,200 Total liabilities $124,790 $136,890 Equity: Common stock 200,000 150,000 Paid-in capital in excess of par 53,000 40,000 Retained earnings 243,415 100,590 Total equity $426,415 $290,590…Problem 21-4 (Algo) Statement of cash flows; direct method [LO21-3, 21-8] The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 49 $ 24 Accounts receivable 46 53 Less: Allowance for uncollectible accounts (3 ) (2 ) Dividends receivable 3 2 Inventory 65 60 Long-term investment 21 18 Land 85 60 Buildings and equipment 273 290 Less: Accumulated depreciation (70 ) (90 ) $ 469 $ 415 Liabilities Accounts payable $ 35 $ 43 Salaries payable 3 7 Interest payable 7 2 Income tax payable 8 9 Notes payable 25 0 Bonds payable…
- < 8:06 Whitney on 04/04/2023, 7:56 PM Agua Company uses the indirect method to prepare the statement of cash flows. Please refer to the following section of the comparative balance sheet: Accounts payable Accrued liabilities 1000 Long-term notes payable Total liabilities 2014 $4,000 2,000 n 2013 Increase/decrease $6,000 1,000 84,000 90,000 $90,000 $97,000 How will the change in Accrued liabilities be shown on the statement of cash flows? O a. Investing activities minus negative cash flow O b. Operating activities minus positive cash flow O c. Financing activities minus positive cash flow Od. Operating activities minus negative cash flow All Media WR $(2,000) 1,000 (6,000) $(7,000) Tim d3(Appendix 21.1) Operating Cash Flows Refer to the information for Lamberson Company in P21-6. Required: 1. Using the direct method, prepare the operating activities section of the 2019 statement of cash flows for Lamberson. 2. (Optional). If you completed P21-6 earlier, prepare the remaining portion of the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)11 Compute Cash Flow from Operating Activities from the following details: Particulars Trade Receivables: Debtors CA Bills Receivable CA Trade Payables: Creditors CL Bills Payable CL L Expenses Outstanding Accrued Income CAT Depreciation on Fixed Assets No + Surplus, i.e., Balance in Statement of Profit & Loss 31st March, 2023 (R) 50,000 23,000 28,000 22,000 4,500 9,000 5,000 90,000 31st March 2022 ) 60,000 25,000 32,000 35,000 3,500 8,000 4,000 80,000