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(a) Calculate unit product cost under absorption costing system for

Question Get Answer (a) Calculate unit product cost under absorption costing system for year 2018 and 2019. (5 Marks) (b) Prepare an income statement using absorption costing system for the year ended 31 December 2018 and 2019. (8 Marks) (c) Reconcile the variable costing and absorption costing net operating incomes for year 2018 and 2019. (5 Marks) (d) Explain how managers manipulate income with the use of absorption costing system. (2 Marks). *please include the calculations and the explanation

Samson Company applies revaluation accounting to plant assets with a carrying value of P800,000, a useful life of 4

Question Samson Company applies revaluation accounting to plant assets with a carrying value of P800,000, a useful life of 4 years, and no salvage value. Depreciation is calculated on the straight-line basis. At the end of year 1, independent appraisers determine that the asset has a fair value of P750,000. The financial statements for year one will include the following information:Select one:a. Revaluation surplus P50,000.b. Depreciation expense P50,000.c. Plant assets P750,000.d. Accumulated depreciation P200,000.

Prior to 2019, the accounting income and taxable income for Culver Corporation

Question Prior to 2019, the accounting income and taxable income for Culver Corporation were the same. On January 1, 2019, the company purchased equipment at a cost of $360,000. For accounting purposes, the equipment was to be depreciated over 9 years using the straight-line method. For income tax purposes, the equipment was subject to a CCA rate of 20% (half-year rule applies for 2019). Culver’s income before tax for accounting purposes for 2020 was $1,800,000. The company was subject to a 25% income tax rate for all applicable years and anticipated profitable years for the foreseeable future. Culver Corporation follows IFRS.calculate taxable income and taxes payable for 2020.Prepare the journal entries to record current income taxes ( there should be two accounts in this entry )prepare the journal entry to record the net change from 2019 to 2020. ( there should be three accounts in this entry )

Mr. Hatim hold a diversified portfolio consisting of Pakistan State

AccountingQuestion Mr. Hatim hold a diversified portfolio consisting of Pakistan State Oil, OGDC, Mobilink, Fauji Fertilizer Company, Zeal Pak Cement and KAPCO. He made an investment of Rs. 10,000 in each common stock. Beta of the portfolio is 1.17. After analyzing the market trends he decided to sell Zeal Pak Cement with a beta of 1.0 for Rs.10,000 and use the proceeds to buy Pakistan Tobacco Company with a beta of 1.65. On the basis of provided information what would be the new portfolio beta that Mr. Hatim holds?

At the end of Year One, a company has an enacted tax rate of 30 percent.

Question At the end of Year One, a company has an enacted tax rate of 30 percent. During Year One, the company reported a $110,000 gain for financial reporting purposes that would not be taxed until Year Two. Then, during Year Two, the company earned another gain, this one for $180,000, that would not be taxed until Year Three. Near the end of Year Two, Congress changed the enacted tax rate from 30 percent to 36 percent. On its Year Two income statement, what amount should be reported as the company’s income tax expense-deferred ? $64,800 $39,600 $33,000 $31,800

1. A company ends Year One with a noncurrent deferred income

Question 1. A company ends Year One with a noncurrent deferred income tax liability of $42,000 and a noncurrent deferred income tax asset of $45,000. The noncurrent asset also has a valuation allowance of $4,000.On its Year One balance sheet, what is shown for deferred income taxes A $1,000 deferred income tax liability A $42,000 deferred liability and a $41,000 deferred asset A deferred income tax liability—noncurrent of $26,000, a deferred income tax asset—noncurrent of $14,000, a deferred income tax liability—current of $16,000, and a deferred income tax asset—current of $27,000 A $12,000 deferred liability-noncurrent and a $11,000 deferred asset-current

If you average your costs over your total production, you get the average cost, written C:

Question Get Answer If you average your costs over your total production, you get the average cost, written C: C(x, y) = C(x, y)/x y.Find the average cost for the cost functionC(x, y) = 200,000 5,500x 4,000y − 100,000e−0.01(x y).C(x, y) = Find the marginal average cost of a car and the marginal average cost of a truck at a production level of 53 cars and 53 trucks. (Let x be the number of cars and y be the number of trucks. Give your answers to the nearest cent.)$ ________ per car$ ________per truckInterpret your answers.At a production level of 53 cars and 53 trucks per week, the average cost per vehicle is increasing for each additional car manufactured and increasing for each additional truck manufactured.At a production level of 53 cars and 53 trucks per week, the average cost per vehicle is increasing for each additional car manufactured and decreasing for each additional truck manufactured. At a production level of 53 cars and 53 trucks per week, the average cost per vehicle is decreasing for each additional car manufactured and increasing for each additional truck manufactured.At a production level of 53 cars and 53 trucks per week, the average cost per vehicle is decreasing for each additional car manufactured and decreasing for each additional truck manufactured.The behaviors of the average costs do not depend on the production level.

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