Cost of merchandise sold Based on the following data, determine the cost of merchandise sold for November:   Merchandise inventory, November 1 $ 28,000 Merchandise inventory, November 30 31,500 Purchases 475,000 Purchases returns and allowances 15,000 Purchases discounts 9,000 Freight in 7,000

Q: Q4. From the following B/S of X Ltd. Prepare Fund Flow Statement:

A: The fund flow statement can be defined as the financial statement being prepared at the year end to ...

Q: What is the major source revenue in non profit organization? Select one: a. Membership fees b. Sales...

A: Non-profit organization: It can be defined as a type of business entity that runs for a social cause...

Q: Flag question: Question 32   What is discontinued operation? Group of answer choices -no longer ...

A: In financial term, discontinued operations defined as some parts of the business or products that ha...

Q: Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $87,000 of 7%, 1...

A:                                                                Journal Entries       Date        ...

Q: On the first day of the fiscal year, a company issues a $676,000, 11%, 10-year bond that pays semian...

A: A bond is a fixed pay instrument issued to represents to an advance made by a financial specialist t...

Q: Accounting Question

A: DATE PARTICULARS DEBIT  CREDIT 1)       JAN 1 A/C Receivables A/C  Dr 19,200             To sa...

Q: Ms. Nihal started her business by investing RO 30,000 in cash. This transaction would? a. increase ...

A: All the business transactions should be recorded as per the accounting standards. Thus, every indivi...

Q: Petty cash fund had an opening balance of RO 700.During the month the receipts were RO 245 petrol,85...

A: Petty cash is a separate cash account that is maintained in order to meet daily cash expenses. Petty...

Q: A business purchased Furniture for RO 25, 000. The manager estimates the value of the machine to be ...

A:   Historical cost concept is the accounting principle that states the value of any asset as well as ...

Q: Prepare the following journal entry; all transactions listed occurred in January: The company pur...

A: Promissory note can be defined as an financial instrument containing a written promise between two p...

Q: Cost of goods Sold

A: Formula: Gross profit = Sales - cost of goods sold Deduction of cost of goods sold from sales value ...

Q: Entries for Investments in Bonds, Interest, and Sale of Bonds Torres Investments acquired $219,200 o...

A: Given information is: Investment acquisition = $219200 Interest rate = 6% Sale Value = $115200

Q: Port Corporation sells item X-100. Purchases, sales and costs of item X-100 for the last quarter of ...

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...

Q: An external audit undertaken on the operational risk department of Zenith Bank Ghana Ltd identified ...

A: Fraud risk- misconduct is a wider concept that usually known to violations of regulation, law, expec...

Q: Four friends who are auditing students have a discussion. Evans says that the primary responsibility...

A: The question involved is who is responsible for the adequacy of disclosure in the financial statemen...

Q: 1. How much are the shares of Edulan and Labasan on the remaining capitalization of the partnership?...

A: 1. Given details:   Contribution Interest Tabarranza P75,000 1/5 Edulan     Labasan     ...

Q: Mary is considering opening a hobby and craft store. Mary plans to operate the business for six year...

A: Cash outflow is the amount of cash that a business disburses. The reasons for these cash payments fa...

Q: What is the amount to be collected by the business from customer who receive the product or services...

A: When a corporation purchases product on credit that must be paid back during a short amount of your ...

Q: From the following information, calculate the amount of subscriptions to be credited to the income a...

A: The income and expenses should be adjusted according to the current year revenues and expenses.

Q: As manager of the St. Cloud Theatre​ Company, you have decided that concession sales will support th...

A: When the Costs Incurred is recovered through the sales during the year. That point where all costs a...

Q: Swifty’s Agency sells an insurance policy offered by Capital Insurance Company for a commission of $...

A: Transaction price is defined as the consideration amount that entity expects to receive for transfer...

Q: It is an amount owed to suppliers for goods purchased or services performed on credit. a. Outstandi...

A: Accounting is a process/system of recording financial transactions in the books of business entity. ...

Q: Sengel Moon opened The Bike Doctor. The following transactions occurred during the month of October ...

A: JOURNAL ENTRY MUST AFFECT AT LEAST TWO ACCOUNTS . ONE TO BE DEBITED AND ANOTHER TO BE CREDITED AND ...

Q: An employee works 51 hours (51 - 40 were overtime hours) during a workweek in December of 2019. He e...

A: The taxable income is referred to as the determined portion of income over which the tax liability i...

Q: what is the cost of goods manufactured if beginning inventory is $8000. Calculate the cost of goods ...

A: Cost of goods manufactured is the total cost of direct material, labor and manufacturing overhead ad...

Q: Government supply the electricity and collected charges is under the control of activities ............

A: Government supply the electricity and collected chargee is under the control of activities "Governme...

Q: Keep track of your work. Below is an Unadjusted Trial Balance for Brenner's Bonsai Tree Company   Pr...

A: Adjusting journal entry: At year end when company finalise its accounts then any unrecognized income...

Q: Q1.From the following information prepare a 'cash flow statement' for Ronak Ltd. Balance sheet of Ro...

A: Cash flow statements are the statements that determine the inflow and outflow of cash from three maj...

Q: I am having trouble with creating ratios or formulas from missing numbers. I need help. Please show ...

A: Ratio analysis: A company's operating, liquidity efficiency and profitability can be studied through...

Q: In 2020, Pennington Corporation had net sales of $600,000 and cost of goods sold of $360,000. Operat...

A:  Return on common stockholders' equity is the proportion of net income that is payable to common sto...

Q: What needs to be considered when not only counting inventory, but likewise in the final valuation of...

A: Inventory is the goods lying in the stock of the entity which is either purchased or produced, ready...

Q: Ignore income taxes in this problem.) Your Company is considering buying a new machine that would ge...

A: Maximum amount for the machine = annual cost savings x Present value factor (12%, 10 years) 

Q: Segment Analysis for a Service Company Charles Schwab Corporation is one of the more innovative brok...

A: "Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...

Q: Adams, Inc., acquires Clay Corporation on January 1, 2020, in exchange for $732,300 cash. Immediatel...

A: Step 1 Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for yo...

Q: Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Departmen...

A: Revenue Budget: The revenue budget includes all product's expected sales. Production Budget: The Pro...

Q: What is the amount to be collected by the business from customer who receive the product or services...

A: Supplier means the person who supplies the goods. Account payable means the person to whom we owed m...

Q: 3. When do you considered a segment as part of segments reporting and how would you record in the bo...

A: Segment Reporting: It is the method of planning and reporting in which the company divide it's opera...

Q: During the current year, the City of Plattsburgh recorded the following transactions related to its ...

A: Tax:-A tax is the compulsory payment which is imposed by the government on the incomes and capital g...

Q: Assume that you just want 35 million dollars in Florida lottery hence the state will pay 20 annual p...

A: Since the rate of return on securities is similar to the lottery earnings therefore 6% interest rate...

Q: Dr: Computer, Cr: Cash . This Journal entry is correct for Which of the following transactions? a. ...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: CPT Inc. is a local manufacturer of conveyor systems. Last year, CPT sold over $2 million worth of c...

A:

Q: The capital accounts of Loida Cadenas and Cristina San Jose have balances of P 150, 000 and P 110,00...

A: Partnership:   It is a type of business form. Under this business form, two or more individuals cont...

Q: IF you know : 1- Standard time 11 hour . 2- Actual time 9.5 hour . 3- Rate per hour ( 7500 )D. 4...

A: Under Rowan method wages are calculated based on predetermined standard time that is required to com...

Q: Keep track of your work. Prepare the following journal entry; all transactions listed occurred in Ja...

A: Journal entries means the book of prime entry incuding debit and credit item. Necessary journal entr...

Q: Problem 5-4 (IAA) At the beginning of current year, Relentless Company reported the following balanc...

A: The main purpose of the journal entry is to record all the monetary transactions in the business. It...

Q: What is the non-controlling interest arising from the consolidation if it is to be computed using th...

A:   Actual cost of acquisition = Cost of acquistion - Control premium= P6,000,000 -P400,000=P5,600,000...

Q: Selling equity in the business provides both the opportunity to repurchase and the obligation to mak...

A: A business is started with the capital of the owner(s). The contribution made by owners are used to ...

Q: (ignore income taxes in this problem) your company uses a discount rate of 10%. the company has an o...

A: Given that: Original cost of machine = $38000 Annual cash flows = $10,000 Period = 5 years

Q: 3- The separation of ownership from management creates a situation in which: a. Management may act...

A:    separation of ownership from management: In the corporate form of ownership, the shareholders are...

Q: Problem #4 Withdrawal of a Partner Gregorio is retiring from the partnership of Guerra, Guillermo, a...

A: Partnership is an arrangement made between two or more people in order to oversee business operation...