User Account

All Pages

Compute the profit under accrual basis

Assignment Help Accounting Basics
Reference no: EM133039206

Question - ABC Co. reported profit of P800,000 in 2021 under cash basis. The following items are relevant in converting the cash basis profit into accrual basis.

Inventory, January 1 1,000,000

Inventory, December 31 600,000

Receivables, January 1 300,000

Receivables, December 31 900,000

Payables increase by 500,000

Required - Compute the profit under accrual basis?

Reference no: EM133039206

Questions Cloud

Explain the mechanism of microbial destruction : Why are non-thermal methods more advantageous than thermal methods of food processing? Provide suitable examples
How are the non-financial perspectives different : How are the Non-financial perspectives different from the Financial perspective? Pay particular attention to the leading/lagging indicator phenomenon, as well a
Analyze asymmetric and symmetric encryption : Analyze asymmetric and symmetric encryption. Evaluate the differences between the two of them and which one that you would determine is the most secure.
Evaluate or critique delta vision statement : - Improving lives. With this component, Delta Airlines demonstrates that all its services are geared towards helping people meet their business and travel needs
Compute the profit under accrual basis : Question - ABC Co. reported profit of P800,000 in 2021 under cash basis. Compute the profit under accrual basis
Create harmony and balance in a visual display : 1. Explain how color texture and can be used to create harmony and balance in a visual display. Use examples to support your answer.
Develop a simple session plan to train employees : Develop a simple session plan to train employees in current customer service systems of Apple computer Inc, including the explanation of the rights and responsi
Describe the trademark : Describe the trademark, its application (e.g., does it cover merchandise, a service, a website ... what does the mark relate to?).
Detail the legislative actions that have been taken : Detail the legislative actions that have been taken to reduce the extent of an auditor's liability. Explain why these reforms were introduced

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd