Accounting question and answers for August 03, 2023
- Q Gene inherited a late model mercedes benz from his great-aunt last year. the auto was worth $28,000 when his aunt died, and Gene sold the auto two months later for...
- Q Why might it be shortsighted to bluntly refuse lending money or issue credit cards to people without a credit history-such as young students-or to consumers with less-than-stellar credit
- Q A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds @ $9 per pound 2 DLH @ $15 per DLH 2 DLH @ $13...
- Q Nickys basis in her partnership interest was $150,000, including her $40,000 share of partnership liabilities. The partnership decides to liquidate, and after repaying all liabilities, distributes all remaining assets proportionately...
- Q Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it bianic
- Q In 20XX, ABC Corp reported net income of $7.184,310 and declared and paid preferred share dividends of $2,673,230. During 20XX, the company had a...
- Q is a high quality product more or less expensive than a poor quality product
- Q 30. Which of the following statements is true Select one : . A. ROPI = NOPAT + (r_{W}*NOA) B . ROPI = NOPAT - (r_{W}*NOA) C. ROPI NOPAT)...
- Q Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does...
- Q Equipment that cost $874000 and had a book value of $391000 was sold for $448000. Data from the comparative balance sheets are: 12/31/21 12/31/20...
- Q The income statement for Sutherland, Inc., appears below. Additional information: Compute the following ratios for 2017
- Q This year, Paula and Simon (married filing jointly) estimate that their tax liability will be $228,500. Last year, their total tax liability was $189,000. They estimate that their tax withholding...
- Q Assuming the cost of direct materials used is $1,500,000, compute the total manufacturing costs using the information below. Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31...
- Q which country has the most favorable view of corporal punishment?
- Q Management of Mittel Company wants to reduce the elapsed time from when a customer places an order to when it is shipped. It provided the following data for...
- Q Pl define the cash ratio in your own world. Pl tell me the way you calculate it and why is this useful? Sp there are 3 parts and...
- Q Proceeds from Notes Payable On October 12, Belleville Co. borrowed cash from Texas Bank by issuing a 30-day note with a face amount of $70,000. Assume a 360-day year. a....
- Q 20. Complete the computation 2% X 1% using both an area model, and by using partial products. Clearly state the solution. (3 pts)
- Q Problem 3: Statement of Cash Flows: Indirect Method Chaplin Arts, Inc.
- Q Jaffre Enterprises distributes a single product whose selling price is $16 and whose variable expense is $11 per unit. The company's fixes expense is $16,000 per month. 1. Prepare a...
- Q How do you expand Internationally amidst the pandemic
- Q What is the purpose of learning the time value of money mathematics? What are the factors that affect the components of interest rates?
- Q ACCOUNTING FOR CONSTRUCTION CONTRACTS ASSIGNMENT On 31 December 2009 Hawkflight Construction had the following uncompleted long term contracts. All of the contracts commenced during the year. Contract A...
- Q In a cost-volume-profit graph, the break-even point is where the graph crosses the vertical axis. True False ...
- Q Water Closet Co. wholesales bathroom fixtures. During the current year ending December 31, Water Closet received the following notes: Date Face Amount Term...
- Q Wahr Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor...
- Q costs were 127,500 How much saies revenue did the company generate during the month? 590,000 5120,000 5140,000 $100,000
- Q ABC Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $99 Units in beginning inventory $0 Units produced 6,300...
- Q Samantha Dolan operates a small consulting business as a sole proprietor. During 2018, she has the following transactions related to the business: Customer sales on account...
- Q Several not-for-profit organizations use television campaigns to obtain pledges to contribute cash. Some people think that not-for-profit entities should recognize pledges as revenues when the cash is actually received. Others...
- Q A. What is the break-even point in units? B. What is the companys income if it sells 1000 units? Molander Corporation is a distributor of a sun umbrella used...
- Q 2. With reference to IAS 21 The Effects of Changes in Foreign Exchange Rates compare and contrast between the two translation methods (a) temporal method exchange rate and (b) current...
- Q What is an environmental pollution
- Q A Corporation reports an account receivable for financial reporting purposes but not for tax purposes at fiscal year-end of December 31, 2020. When this asset is recovered in 2021, a...
- Q 12. Pittsford Company purchased bonds from Shay Company on the open market at a premium. Shay Company is a 100% owned subsidiary of Pittsford Company. Pittsford intends to hold the...
- Q Here is my problem, If someone could show me how it's done I would greatly appreciate it! Starfax, Inc., manufactures a small part that is widely used in...
- Q 1) Identify the type of information below that is least likely to be considered confidential by an organization. A) Audited financial statements. B) Legal documents. C) Top executives' salaries....
- Q ...
- Q How do we record and report inventory shrinkage? Which accounts are affected?
- Q Classify each of the following items as belonging in the revenue,expenditure,human resources/payroll, production, or financing cycle. 1.Measure employee performance using a performance management system 2.Choose suitable supplier...
- Q Fend te movirmaris
- Q Company N, Company M, and Company L are three grass seed companies. All three companies provide fescue, bluegrass, and ryegrass seeds. All three companies use similar production and distribution capabilities...
- Q Types of consumer goods
- Q despite their positive status in the Family and cultur, who are the poorest population group in United States over the age of 70?
- Q Exercise 23-6 (Part Level Submission) On January 1, 2017, the Hardin Company budget Sales units: Ending raw materials inventory: 40% of the next quarter's...
- Q most couples divorce after how many years?
- Q Which of the following is not an example of potential Financial Statement fraud related to Inventory? 1)Failure to recognize Obsolete Inventory 2)Double counting Inventory 3)All of these answers...
- Q Calculate the Equivalent Units for Each of the following
- Q Ryan files as head of household. In 2020, he pays $3,500 of interest on a qualified education loan he took out for his dependent son's tuition. He also paid $7,800...
- Q From the income statement please prepare a common sized income statement express in percentage 2017 2016 2015 OPERATING...
- Q As a part of an employment interview, you are given the partial income statement and selected financial ratios shown for Sneaky Petes, a chain of western stores. Sneaky Petes is...
- Q What is an environmental pollution
- Q 1. When a seller allows a buyer an amount for old equipment traded in for new equipment having a similar use, this amount is called boot. the trade-in allowance. commercial...
- Q Blue Skies Inc. is a retail gardening company that is piloting a new strategic initiative aimed at increasing gross profit. Currently, the company's gross profit is 21% of...
- Q On December 2 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was...
- Q Porter Corp. sold some fully depreciated equipment for $3,000 cash. The equipment had been purchased for $151,500 and Porter Corp. had estimated the useful life at 8 years and residual...
- Q List in summary form the FASBs 5-Step Revenue Recognition Model prescribed in ASC606.
- Q Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department Pulping cost added...
- Q What is the main difference between a perpetual inventory system and a periodic inventory system? Which system is used more often by major companies? Find an example and explain why...
- Q Make a Unadjusted Trial Balance and a Balance sheet from the following information. Date Debit Credit 80,000.00 80,000 12,200 12,200 42,000 34,600 3,000 2,900 82,500 26,900...
- Q 1. Lowman Corporation sells only one product with a selling price of RM200and a variable cost of RM80 per unit. The companys monthly fixed expense is RM60,000. The corporation would...
- Q Using information on JNJ and NFLX from Yahoo Finance apply Merton's distance to default formula and show work. NFLX Income Statement All numbers in thousands Revenue 12/31/2015...
- Q In recent years, we have seen many European nations join together and create the European Central Bank. It was created to utilize one form of currency for many nations, thus...
- Q a company compiled the following financial information as of December 31, 2013: Revenues $170,000 Retained earnings (1/1/13) 30,000 Equipment 40,000 Expenses 125,000 Cash 45,000 Dividends 10,000 Supplies 5,000 Accounts payable...
- Q ) You are the external auditor of Oman Plastic Industries, Muscat, which is a leading supplyier of plastic products across the Sultanate of Oman. You are provided with its financial...
- Q The accounting department of the client reports that the balance of Accounts Receivable is $210,000. Using classical variable sampling, the auditor computes an estimated total population value of...
- Q Why is it important for a CPA to have knowledge about the Law on Obligations and Contracts?
- Q In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related...
- Q Ramer and Knox began a partnership by investing $72,000 and $102,000, respectively. The partners agreed to share net income and loss by giving annual salary allowances of $56,000 to Ramer...
- Q A company has beginning inventory of 28 units at a cost of $12.50 each on October 1. On October 5, it purchases 20 units at $13.50 per unit....
- Q Garcia Company has 11,900 units of its product that were produced at a cost of $178,500. The units were damaged in a rainstorm. Garcia can sell the units...
- Q asap pls At the end of each of the next four years, a new machine is expected to generate net cash fows of $9,000,$16,000,$13,000, and...
- Q Martha has a net capital loss of $20,000 and other ordinary taxable income of $45,000 for the current year. What is the amount of Martha's capital loss carryforward
- Q please help
- Q An unlevered firm has a value of $800 million. An otherwise identical but levered firm has $60 million in debt at a 5% interest rate. Its cost of debt is...
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