Accounting question and answers for August 04, 2023
- Q On June 30, Jamison Company issued $2,500,000 of 10-year, 8% bonds, dated June 30, for $2,580,000 with interest payable semiannually. Record entries for the following transactions:...
- Q Question Multifactor productivity: a) remains constant b) is never constant c) usually uses substitutes as common variables for the factors of production d) seldom uses labor as a...
- Q A company has a sales mix and contribution margin per unit as follows: Product A: Sales Mix: 60%; Contribution Margin per unit: $35 Product B: Sales Mix: 40%; Contribution...
- Q only have 15 min pls fast asap Current Attempt in Progress The following information is avaitable for Crane Corporation's pension plan for the...
- Q thanks in advance please provide answer as early as possible The six phases of the product development process.need breif explanation plz
- Q In 2020, Mowchan Inc. acquired Sanchez Co. and recorded goodwill of $290 million as a result. The net assets (including goodwill) from Mowchans acquisition of Sanchez Co. had a 2021...
- Q Why do corporations issue convertible securities?
- Q Heather purchased furniture and fixtures (7-year property) for her retail shop for $50,000. What is the AMT depreciation adjustment required in 2022 if the property was purchased in May 2022,...
- Q Can you please help me out with this problem. Thank you Required: Prepare an income statement using the functional method with appropriate notes...
- Q meters and we are in the base how ended for ed them The company based on meie care sursember 2017 we had been...
- Q thanks in advance please provide answer as early as possible Designing products for aesthetics and with the user in mind is generally called what
- Q Novak Corporation had 111.600 shares of stock outstanding on January 1,2025. On May 1,2025, Novak issued 61,200 shares. On July 1, Novak purchased 10,920 treasury shares,...
- Q How much would you have to invest today to receive: Use Appendix B and Appendix D. (Round "PV Factor" to 3 decimal places. Round the final answers to the nearest...
- Q and are what you see when you open Excel O None of these answers O Columns, rows and cells O Columns, rows and charts O Column, rows and...
- Q Explain network structure, and discuss how it might be more close to the current trend of organizations' design
- Q A lack of transparency exists in developed economies where mandatory requirements are often not adequately enforced. True False
- Q Beginning inventory, purchases, and sales for Item 88-HX are as follows: Mar. 1 Inventory 90 units @ $15 8 Sale 72 units 15 Purchase 100 units @ $17 27 Sale...
- Q Determine the per-unit factory overhead allocated to the gasoline and diesel engines under the multiple production department factory overhead rate method, using direct labor hours as the activity base for...
- Q The easiest way to select a cell (make it active) is to use the mouse to move the block plus sign pointer to the cell and then click....
- Q Hillsong Inc. manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2.45 million. Its existing machine was purchased five years ago at a price of...
- Q Elite Manufacturing produces two products in its Abu Dhabiplant: Sports Shoes and Casual Shoes. Since inception, Elite has used only one manufacturing overhead pool to accumulate costs. Manufacturing overhead...
- Q Journalize the following transactions for the month of September. Assume this is an accrual company. At the end of the month, the power bill has not arrived. Based on experience,...
- Q Seal Company began operations this month mass-producing pull and seal envelopes. During the month of June they completed 20,000 units and have 10,000 units that are 50% complete. They had...
- Q Scott Co. entered into a 5-year capital lease requiring it to make equal annual payments. The reduction of the lease liability in Year 2 should equal: Select one: a. The...
- Q Una compaa de carbn invierte $12 millones en una mina que se estima tiene 20 millones de toneladas de carbn y no tiene valor de rescate. Se espera que la...
- Q Sager Company manufactures variations of its product, atechnopress, in response to custom orders from its customers. OnMay 1, the company had no inventories of work in process orfinished goods but...
- Q On January 1, 2017, Corgan Company acquired 70 percent of theoutstanding voting stock of Smashing, Inc., for a total of$1,085,000 in cash and other consideration. At the acquisitiondate, Smashing had...
- Q Please Show work!King City Specialty Bikes (KCSB) produces high-end bicycles. Thecosts to manufacture and market the bicycles at the company'svolume of 2,000 units per month are shown in the followingtable:Unit...
- Q Problem 6-28 Sales Mix; Commission Structure; MultiproductBreak-Even Analysis [LO6-9]Carbex, Inc., produces cutlery sets out of high-quality wood andsteel. The company makes a Standard set and a Deluxe set and sellsthem...
- Q Another bank advertises a 9 month CD with a 6.15% APY, $1000minimum deposit, nominal annual interest rate of 5,97%, compoundeddaily, using 30 day months, and hence a 360 day year....
- Q [The following information applies to the questionsdisplayed below.]Widmer Watercraft’s predetermined overhead rate for the year 2017is 200% of direct labor. Information on the company’s productionactivities during May 2017 follows.Purchased raw...
- Q On January 1, 2017, McIlroy, Inc., acquired a 60 percentinterest in the common stock of Stinson, Inc., for $378,000.Stinson's book value on that date consisted of common stock of$100,000 and...
- Q Required information[The following information applies to the questionsdisplayed below.]Widmer Watercraft’s predetermined overhead rate for the year 2017is 200% of direct labor. Information on the company’s productionactivities during May 2017 follows.Purchased...
- Q Wildhorse uses the diminishing-balance method at one times thestraight-line depreciation rate. Wildhorse Limited purchaseddelivery equipment on March 1, 2019, for $131,250 cash. At thattime, the equipment was estimated to have...
- Q Rooney Corporation estimated its overhead costs would be $22,600per month except for January when it pays the $134,520 annualinsurance premium on the manufacturing facility. Accordingly, theJanuary overhead costs were expected...
- Q Charlie, who is in the 37 percent marginal tax bracket, is thepresident and sole owner of Charlie Corporation (a C corporation inthe 21 percent tax bracket). His current salary is...
- Q As the new accountant for Cohen & Co., you have been askedto provide a succinct analysis of financial performance for theyear just ended. You obtain the following information that pertainsto...
- Q R.S. reported pre-tax accounting income in 2017, 2018, and 2019of $80 million, plus an additional 2017 income of $50 million frominstallment sales of property. However, the installment salesincome is reported...
- Q Adventures in Wild Life conducts tours of wildlife reservesaround the world. They have recently purchased a new lodge in Adak,Alaska, utilizing a 4% mortgage from Bank of Alaska. As part...
- Q Task 2 – Discuss the following concept in detail andfind out the value of Expected Loss using appropriatemodel. (3+4 = 7 Marks) Discuss the Three- Bucket Approach of AssetClassification as per...
- Q How do we reformat financial statements?
- Q Pineapple Motor Company manufactures two types of specialtyelectric motors, a commercial motor and a residential motor,through two production departments, Assembly and Testing.Presently, the company uses a single plantwide factory overheadrate...
- Q how do you do the T accounts sheet
- Q Examine the Annual Financial Statement of a company to determinetheir use of option contracts.What is the company you have selected?What is the company using their option contract for?What is the...
- Q An asset was purchased on January 1, 2020 for $150,000. Theestimated useful life is 5 years and 31,250 units. With theresidual value being $25,000 prepare a schedule of depreciation foreach...
- Q Due to erratic sales of its sole product—a high-capacity batteryfor laptop computers—PEM, Inc., has been experiencing financialdifficulty for some time. The company’s contribution format incomestatement for the most recent month...
- Q Case StudyPF Corporation makes three different clothing fasteners in itsmanufacturing facility in North Carolina. Data concerning theseproducts appear below:ProductVMNNormal Annual Sales Volume100,000200,000400,000Unit Selling Price$ 1.65$ 1.50$ 0.85Variable Expenses per unit$...
- Q Limo Ltd is a small family owned company that has beensuffering from the credit crunch and has very limited borrowingpower. The company gets it finance mainly from bank overdraft whichhas...
- Q 1. The business credit card is being used for business andpersonal expenses; list the business and then the personal expensesfrom the statement. Address the accounting and ethical reasons forthis separation...
- Q What could be resons for denail of the request for the loan
- Q Product Pricing: Single ProductPresented is the 2014 contribution income statement of ColgateProducts.COLGATE PRODUCTSContribution Income StatementFor Year Ended December 31, 2014Sales (13,000 units)$ 1,560,000Less variable costsCost of goods sold$ 520,000Selling and...
- Q Due to erratic sales of its sole product—a high-capacity batteryfor laptop computers—PEM, Inc., has been experiencing financialdifficulty for some time. The company’s contribution format incomestatement for the most recent month...
- Q For each of the following companies, calculate the cash flowfrom operations: (List items that increase cash flow first.) NuVuLtd. ABC Inc. Akhtar Ltd. Sales revenue $381,000 $577,000 $936,000Cost of goods...
- Q You are given the following information on Kaleb's Kickboxing:Profit margin 6% Capital intensity ratio 0.7 Debt–equity ratio 0.6Net income $99933 Dividends $15221 Calculate the sustainable growthrate (in %) (round 4...
- Q Aracel Engineering completed the following transactions in themonth of June.Please prepare a general journal AND General Ledger that includeaccount explanations.a.Jenna Aracel, the owner, invested $100,000 cash, officeequipment with a value...
- Q The most recent financial statements for Fleury Inc., follow.Sales for next year are projected to grow by 19 percent. Interestexpense will remain constant; the tax rate and the dividend payoutrate...
- Q It has been said that qualitative research uses“emerging research designs” while quantitative research uses“predetermined research designs”. Explain why there are differingapproaches to research design when undertaking qualitative andquantitative research.
- Q Entries for Flow of Factory Costs for Process Cost SystemRadford Inc. manufactures a sugar product by a continuousprocess, involving three production departments—Refining, Sifting,and Packing. Assume that records indicate that direct...
- Q On January 1, 2018, Edward Corporation had 29,000 shares of $5par value common stock and 29,000 shares of 7%, $100 par valueconvertible preferred stock outstanding. The preferred sharescarried a 2-for-1...
- Q Sweeten Company had no jobs in progress at the beginning ofMarch and no beginning inventories. The company has twomanufacturing departments—Molding and Fabrication. It started,completed, and sold only two jobs during...
- Q One division produces operating profit of $ 500,000 and the second division produces operating profit of $ 3 million. Which divisional manager is the best? Explain your answer.
- Q Data Performance, a computer software consulting company, hasthree major functional areas: computer programming, informationsystems consulting, and software training. Carol Bingham, a pricinganalyst, has been asked to develop total costs for...
- Q Lindsay Corp. sold $2,500,000 of 11%, 10-year bonds at 106.231to yield 10% on January 1, 2015. The bonds were dated January 1,2015, and pay interest on July 1 and January...
- Q Givean example of a major accounting fraud or internal control failureissue (besides Enron) and how it relates to the accounting system.That can be issues with hacking, social engineering, and other...
- Q Sinoceva Company is experiencing rapid growth. Dividends areexpected to grow at 30% per year during the next 3 years; 18% overthe following year; and then 8% per year indefinitely. The...
- Q A department adds raw materials to a process at the beginning ofthe process and incurs conversion costs uniformly throughout theprocess. For the month of January, there were no units in...
- Q which stage of the writing process is most challenging to you why?Share action steps you will implement to improve your writingskills
- Q a) An increased number of manufacturing companies are investingin advanced manufacturing systems. Two major benefits of thesesystems are greater flexibility in the manufacturing process andimprovements in product quality. Briefly explain...
- Q Marko Inc. provides the following information related to itspost-retirement health care benefits for the year 2018 (amounts inthousands of Canadian dollars): Defined post-retirement benefitobligation at January 1, 2018 - $100,000...
- Q Sales revenue for Wholesales ehf is ISK 480,000. Its variablecost is 40% of sales and fixed costs are ISK 80,000.1. What does the Wholesalers ehf need to sell for great...
- Q Discuss your professional and legal responsibilities as anauditor by referring to the Statement of Auditing Standards (SAS)as well as the Public Company Accounting Oversight Board (PCAOB)rules. In addition, discuss how...
- Q As a manager, discuss how you would use or have used theconcept of (flexible budgets and performance analysis) and(standard costs and variances)Why might managers find a flexible-budget analysis moreinformative than...
- Q there are presently (2) projects available toshrewsberry limited,however the company only has cash available ofone of them. ProjectR. Project Sinvestment.900000. 600000Depreciation straight line straight linecost of capital14%. 14%lifespan. 5years. 5 years residual 84000. nil netprofit. year1. 56000. 7000year2 80000 7000year3 102000. 7000year4. 130000 7000year5. 152000 7000required:1.1 calculate the accounting rate...
- Q Cost of Units Completed and in ProcessThe charges to Work in Process—Assembly Department for a period,together with information concerning production, are as follows.All direct materials are placed in process at...
- Q Creative Designs, a firm providing art services for advertisers,began business on June 1. The following accounts in its generalledger are needed to record the transactions for June: Cash;Accounts Receivable; Supplies;...
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