A wholly owned subsidiary declared dividend and half remains unpaid by the end of the year, which of the following is TRUE? a. Only half of the amount of the dividend will be used to reduce the profit of the parent for consolidation purposes. b. The total amount of the dividend will be eliminated in the working paper

Q: If Blue Spruce Company had net income of $312,000 in 2021 and it experienced a 26.6% increase in net…

A: Net income, 2021 = $312,000 Increase in Net income = $312,000 x 26.6% = $82,992

Q: DO NOT INCLUDE COMMAS OR BO The Company acquired a machine on January 1, Year 1. The machine cost…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: PV$1 PVA 10 6% 0.558395 7.360087 10 7% 0.508349 7.023582 20 3% 0.553676 14.87747 20 3.5% 0.502566…

A: Bonds- A bond is a fixed-income tool that represents a loan made by a shareholder to a borrower…

Q: 2) ABC Company pays John $12 an hour and he worked 30 hours in week one and 60 hours in week two.…

A: Payroll: It implies to the compensation that is paid by the entity to it's employees for the work…

Q: The property, plant, and equipment section of the Jasper Company's December 31, 2020, balance sheet…

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

Q: When you retire, a key goal is to be able replace about 80% of your pre-retirement income level.…

A: The answer is stated below:

Q: The following selected transactions were completed during July of the current year: 1. Billed…

A: Introduction: Journals: Each and every business transactions are to be recorded in Journals.…

Q: Which of the following would result in the recognition of deferred tax liabilities? Select one: A.…

A: DTT (Deferred tax liability) which is recorded in the balance sheet (BS) of company and it reports…

Q: Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in…

A:

Q: The allowance method of estimating uncollectible accounts receivable based on an analysis of…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

Q: A construction company purchases $50,000 worth of equipment on July 1, 2014. The company estimates…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: 5. Archer's cost accountant prepared the following static budget based on expected activity of 4,000…

A: A flexible budget is something that could be altered to account for fluctuations in real income…

Q: Indicate whether the breakeven point will increase or decrease based on the following change (each…

A: Break even point = Fixed costs /Contribution margin per unit  where, Contribution margin per unit =…

Q: Prepare a trial balance, listing the following accounts in proper sequence. The accounts (all normal…

A: Introduction: Trial Balance: All the final ledger accounts balances are posted in Trial balance to…

Q: Home Office put up a branch with initial investment of cash 400,000; and equipment 180,000, and…

A: Head office means from where the company mainly operate and all branches are controlled from that…

Q: What is the amount of current assets, assuming the acce Accounts Payable $12,000 Buildings 70.000…

A: Current assets are those assets which are readily converted into cash within a short period of 1…

Q: Bart Company purchased equipment on January 1, 2016, at a total cost of $400,000. The equipment has…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: Cost of Goods Sold Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic…

A: Total budgeted manufacturing cost=Budgeted direct materials+Budgeted direct labor+Budgeted overhead

Q: Requirements: 1. Prepare Financial Statements: Profit and loss Statement, Statement of changes in…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: In October, Pine Company reports 21,000 actual direct labor hours, and it incurs $125,500 of…

A: Total overhead variance = Actual manufacturing overhead costs - Standard manufacturing overhead…

Q: Variable Cost Concept of Product Pricing Smart Stream Inc. uses the variable cost concept of…

A: Variable Cost  = Direct Material  + Direct labor  + factory overhead + selling and administrative…

Q: Williams Company sells women’s hats for $12 each. Actual and budgeted sales in units for nine months…

A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…

Q: In preparation for developing its statement of cash flows for the year ended December 31, 2021,…

A: Cash flow from Financing activities includes the transactions relating to the loan/debt,…

Q: Prepare journal entries to record the following transactions for the month of November. If an amount…

A: Introduction: Journals: Each and every business transactions are to be recorded in Journals.…

Q: i will be attaching the 1st question as asked but kindly answer the second question only. thanks! 1.…

A: Minimum monthly payment is that payment, which is the amount of money paid by a borrower, It is…

Q: Home Office transferred merchandise worth 320,000. Home Office paid for the freight of 5,000 to be…

A: Journal entry:   It is the first step of recording transactions of a company. Before this, no other…

Q: Oaktree Company purchased new equipment and made the following expenditures: Purchase price Sales…

A: Cost of the Equipment = Purchase Price + Sales Tax + Freight Charges for shipment of machine +…

Q: Calculate the predetermined plantwide overhead rate. (Note: Round to the nearest cent.) ii)…

A: Variance is the measurement which is used by the company in order to measure about the costs and…

Q: On January 1, 2021, the start of the current financial year, Tubble Ltd had in issue 36 million…

A: Calculation of bonus shares issued: Existing no of shares = 36 million Bonus shares proportionate =…

Q: Mike and Ashlyn are married and filed jointly. Their combined wages were $75,300. They earned $2000…

A: Standard deduction : A fixed amount of deduction is given to the taxpayer. If taxpayer choose…

Q: 14.24 David Jurman, Ltd., has received the following orders: Period 1 3 4 6. 10 40 30 40 8 9 Order…

A: The process of determining how much resource will be required to fulfill demand is referred to as…

Q: Campbell Inc. produces and sells outdoor equipment. On July 1, Year 1, Campbell issued $21,000,000…

A: Journal entries (JE) refers to the events which are recorded in the financial statements or in the…

Q: On January 1, 2020, Eddie Company entered into a five-year finance lease for an equipment. Eddie…

A: Lease is a form of contract or arrangement between two parties under which one party provides it's…

Q: Received a six-month insurance policy renewal from general insurance company for $1200 paid a meatly…

A: Prepaid expenses are those for which the payment has been made before it occurs. For example,…

Q: On October 1,2018, Bane Company entered into a 6-month, 5,200,000 purchase commitment for a supply…

A: Purchase commitment is the situation, when a buyer o a firm commit to buy from the particular…

Q: On January 1, 2019, Jerome Company signed a 12-year lease for a building. The entity has an option…

A: Carrying amount refers to the difference between book value and depreciation.

Q: a. $40,000

A: Internal rate of return refers to the method of financial analysis for computing the profitability…

Q: Malcolm has a capital balance of $90,000 after adjusting to fair market value. Celeste contributes…

A: When it is projected that a company's financial or operational performance will at least equal the…

Q: 8. Cost of goods sold budget Direct materials used Part K298 Part C30 Direct labor used Overhead…

A: Budgeting is an important tool for  cost managers of an entity. Budgeting means pre estimation of…

Q: A diesel-powered tractor with a cost of $249,520 and an estimated residual value of $7,600 is…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: Answer by fallowing the table format United Apparel has the following balances in its stockholders'…

A: The shareholders equity section provide details of Issued and paid up share capital and Reserves and…

Q: On January 1, 2023, Jones Corporation issued $2.982.000, 9%, 5-year bonds with interest payable on…

A: Interest expense on bonds is calculated at the market rate of interest on the issue value of the…

Q: Requirements: 1. Prepare Journal Entries of each transaction. (With explanations) 2. Prepare…

A: Here asked for multi sub part question we will solve first three sub part question.  If you need…

Q: Maribeth Company made the following expenditures relating to Product Zee: Legal costs to file a…

A: ALLL THE COST INCURRED ON RESEARCH & DEVELOPMENT ARE TO BE CHARGED TO EXPENSE . SPECIFICALLY IT…

Q: Lucille Corporation has 70,000, 6% ,20 par cumulative, participating preference shares outstanding…

A: Cumulative Preference Share: Cumulative preferred stock is a form of preferred stock that has a…

Q: On January 1, 2019, Heaven Company acquired 20% of the ordinary shares of an associate for…

A: GIVEN     On January 1, 2019, Heaven Company acquired 20% of the ordinary shares of an associate for…

Q: The following information is available for a company. How much of the factory rent should be charged…

A: As per activity  based costing Factory  rent should  be apportioned  as per floor area basis

Q: Required: - Worksheet 10 column

A: Worksheet is a 10 column sheet which shows first unadjusted general ledger balances, adjustment…

Q: Cash P 84,000 Accounts Receivable 48,000 Accrued Service Income 13,000 Prepaid Expenses 18,000…

A: Current assets: Assets that are expected to be sold or used within one year are classified as…

Q: Problem IV (113) - Entries for bonds payable. Prepare the necessary journal entries to record the…

A: The bonds are long-term liabilities because the payment of liability is to be made in more than a…