Reference no: EM133126129
Questions -
Q1. Before closing the trial balance, supplies on hand are recorded as P315 in the bags. During the time period, P290 of these goods were consumed. What is the amount reported on the balance sheet as supplies on hand?
Q2. Dan Eric's Ice Cream House purchased an ice cream machine for P26,000 on July 31, 2019. The machine is predicted to have a five-year usable life and a salvage value of P2,000.
a. What should the balance of the machine's accumulated depreciation be on November 31, 2021, after posting the adjustment entry?
b. What will the ice cream machine's carrying cost be on November 31, 2021?
Q3. LBC Logistics paid P760 for an eraser on November 1, 2020. The eraser has a five-year projected useful life and no salvage value. For the fiscal year ending November 31, 2020, what is the amount of expense reported for the eraser should be?
|
What is global migration
: Discuss the following questions using your own words: 1. What is global migration?
|
|
Describe personality through clothing
: 1. How would you describe your personality through clothing?
|
|
Determine the interest rate you will pay
: Determine the interest rate you will pay if you are approved for a loan of $112,000 with annual payments of $15,000 over 8 years
|
|
Elected legislative branch official to affect change
: During an election season town hall meeting, a hopeful politician seeking election to a legislature (representative democracy-federal- presidential style system
|
|
What should balance of the machine accumulated depreciation
: What should the balance of the machine's accumulated depreciation be on November 31, 2021, after posting the adjustment entry
|
|
What is the adjusted pretax income
: Sales for 2016 included a P1,719,000 collection pertaining to a delivery made in January of 2017. What is the adjusted pretax income
|
|
Calculate the firm profit
: It is demonstrated that some times extensive diseconomies of scale, say, due to high transportation costs, would require that the firm produce its product in a
|
|
Sanitisers at the outset of the pandemic
: At the outset of the COVID-19 pandemic the demand for hand sanitizers increased markedly around the globe resulting in retailers rationing supplies as well as h
|
|
Explain the importance of estimating quantities
: Recognise and explain the importance of estimating quantities and establishing the outline cost - Develop interpersonal skill through individual
|