Accounting question and answers for August 08, 2023
- Q Describe the UCCs approach to requiring that certain contracts be in writing and identify the alternative methods of compliance under the code.
- Q 1. What are the common state tax issues that arise in a taxable stock acquisition?
- Q A company issues $25,000,000, 7.6%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $24,505,180....
- Q A law firm billed a client $2200 for work performed in the current month. Which of the following general journal entries will the firm make to record this transaction? ...
- Q Pizza Palace Pizza Palace only sells Pizza Packages for 150.00 each. They are a Pizza Catering Operation. Un-jumble the following income statement and answer the...
- Q 9
- Q On December 31, 2021, Jordan Co. borrowed $1,500,000 at 12% payable annually to finance the construction of a new building. In 2022,...
- Q Which of the following is NOT true about bonus depreciation under the PATH ACT of 2015? a) a business can claim 50% bonus depreciation for certain qualified assets placed in...
- Q Kowalski, a Nevada state trooper, was paid a $65,000 salary plus a $3,000 cash meal allowance for 2019. The cash meal allowance was paid to permit troopers to remain on...
- Q Henries Drapery Service is investigating the purchase of a new machine for cleaning and blocking drapes. The machine would cost $170.595 including freight and installation. Henries estimated the new machine...
- Q The following annual costs are associated with three new extruder machines being considered for use in a Styrofoam cup plant: The following annual costs are associated with three...
- Q Inventory valuation methods determine the cost of goods sold and the inventory balance. (1) Explain how the Last in First out (LIFO) method is applied (15 points) and (2) provide...
- Q Please describe what the footnotes to the financial statements should disclose as related to deferred taxes.
- Q Please select which of the following statement is true: I. If the market rate is higher than the coupon rate, the bonds will be issued at a discount. II. The...
- Q What are the major forms of financing liabilities? Which are long term and which are short term?
- Q Statutes relating to a shareholder s right to inspect corporate records usually DO NOT include... A: The right to inspect certain financial documents B: The right to inspect the physical...
- Q a new product xlv7 is being planned with the following estimates variable cost estimates: variable cost per unit $19 and total fixed cost $42,000 the project sales price is $25...
- Q Introduction: "Our objective is clear" said Janet Knox, Vice President for the War Eagle Railroad (WERX). "We have an opportunity to displace a high volume of truck shipments...
- Q Determine the present value of $200,000 to be received at the end of each of four years, using an interest rate of 7%, compounded annually, as follows: a. By successive...
- Q Why is Direct labor cost budget important to business practices & companies ? why is Sales Budget important to business practices & companies?
- Q Marigold Corp. uses flexible budgets. At normal capacity of 7000 units, budgeted manufacturing overhead is: $21000 variable and $270000 fixed. If Marigold Corp. had actual overhead costs of $295200 for...
- Q Indicate the effects of the following business transactions on the accounting equation of 's vivian Online Video store. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Office Furniture, Accounts...
- Q 1. Why is the closing process important? 2. compare and contrast the Statement of Cash Flows--Direct Method with the Statement of Cash Flows--Indirect Method.
- Q Classify each as "Acceptable" or "Unacceptable" regarding the Circular 230 position concerning the following situations encountered in the tax profession. a. Taking an...
- Q CE 6-2 Tasty Time Cafeteria operates cafeteria food services in public buildings in the Midwest. Tasty Time is contemplating a major change in its cost structure. Currently, all of their...
- Q El 1 de enero de 2018, el libro mayor de TNT Fireworks incluye los siguientes saldos de cuenta: cuentas Dbito Crdito ...
- Q Which legal entity is paired with the owner(s) that do not have limited liability for the entitys debts? A. LLC - LLC member-mangers B. Corporation ...
- Q used, if the allowance method had been would be uncollectible 0BJ.5 erations EX 8-16 Effect of doubtful accounts on net income Using the data...
- Q Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. Sales discounts $ 880 Office salaries expense 3,300 Rent expenseOffice space 2,800 Advertising expense 760 Sales...
- Q Lester uses his personal automobile in his business of selling insurances. He bought a new car in 2014 and drove it a total of 28,000 miles of which 4,000 miles...
- Q purchased 40000 shares of pinkberry co. stock directly from the founder for $24 per share. pinkberry has $125000 shares issued and outstanding
- Q A company issues $25300000, 5.8%, 20-year bonds to yield 6% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $24715190....
- Q Beth Corbins regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Beth works...
- Q TRUE OR FALSE The P/E ratio measures the price that investors are prepared to pay for each dollar of earnings.
- Q Why would an auditor need to use an outside specialist when performing an audit? Identify specific accounts or assertions where a specialists might be needed.
- Q The Scent of Money makes three products that can be sold at split-off or processed further and then sold. The joint cost for April 2010 is $1,080,000....
- Q Sky High sells helicopters. During the current year, 130130 helicopters were sold resulting in $ 820 comma 000$820,000 of sales revenue, $ 260 comma 000$260,000 of variable costs, and $...
- Q Which of the following is recorded in the capital account of a country's balance of payments? Group of answer choices foreign official assets income payments income receipts...
- Q Juliet, una filipina hizo las siguientes donaciones: A Nick Land en Manila 450,000 A Rosalee Jewelry en Japn 100,000 A Adalind PLDT Shares 150,000 A Renard Building en Italia con...
- Q Choose correct alternative. Which, if any, of the following items could be included in 'cash flows from financing activities' in a statement of cash flows that complies with IAS...
- Q What are advantages of having a government entity issuing auditing standards (like XRB). What are the advantages of having a private organization (like NZICA or CAANZ) issuing auditing standards?...
- Q BestSystems manufactures an optical switch that it uses in its final product. BestSystems incurred the following manufacturing costs when it produced 68,000 units last year: (Click...
- Q ABC Inc. was incorporated on 1/15/12. Their corporate charter authorized the following capital stock: Preferred Stock: 7%, par value $100 per share, 100,000 shares. Common Stock: $1 par value, 500,000...
- Q 8B - Journal Entries for Purchase, Return, and Remittance - Periodic System On August 15, the Harris Company purchases $16,500 of merchandise from Jason Company with terms of 2/10, n/30....
- Q Fill in the blanks in the hypothetical balance of payments statement in the table below Romomher to enter a minus (-) sign to indicate negative...
- Q Goodfellow Corporation's accounting records for the year ended December 31,20x2 included the following information: Payments to suppliers $ 53,000 Collections on accounts receivable 80,000 Cash sales 48,000 Given the information...
- Q Montello Inc. purchases a delivery truck for $11,600. The truck has a salvage value of $2,800 and is expected to be driven for eight years. Montello uses the straight-line depreciation...
- Q Selected amounts from Trent Company's trial balance of 12/31/14 appear below: Prepare an adjusted trial balance.
- Q Problem 3-25(Algo) Calculating Ending Inventories and Cost of Goods Sold [LO3-5] Expedition Company worked on five jobs during May: Jobs A10, B20, C30, D40, and E50....
- Q ____ is propelling massive and fast-paced changes in how businesses function A) Service B) Accounting C) Technology D) Sales
- Q Wang Company manufactures and sells a single product that sells for $450 per unit; variable costs are $270 per unit. Annual fixed costs are $801,000. Current sales volume is $4,200,000....
- Q Which of the following is not one of the three paragraphs delineated in the audit report for a U.S. public company? Select one: a. management's responsibility paragraph b. introductory paragraph...
- Q Assume a project has the following expected cash flows:YearExpectedNet Cash Flow0($400,000)1100,0002150,0003200,0004250,000 What is the projects payback(payback period)? a. 2.00 years b. 2.25 years c. 2.50 years d....
- Q . Tuan and Ella are going to establish a business. They expect the business to be very successful in the long run, but project losses of approximately $100,000 for each...
- Q If the assets owned by a business total $100,000 and liabilities total $50,000, owner's equity totals $15,000. True False
- Q On 1 January 2018 Kettle Ltd acquired a vehicle at a cost of $30,000, with a useful life of 6 years, and no residual value. Kettle Ltd depreciates vehicles using...
- Q Karla has the following incomes and tax deductionsNet Employment Income$62,350.00Capital Gains$97,650.00Allowable Capital Losses$2,715.00Contribution to RRSP$4,560.00Loss in Business$11,560.00What is the Taxable Income for Karla?
- Q Which of the following statements is true regarding the accrual basis of accounting? A. Revenue and expenses are recorded when cash is received or...
- Q discuss the benefits of the district assembly common fund in Ghana and explain the formula for its disbursement
- Q A note receivable due in 11 months is listed on the balance sheet in the a. "Longterm liabilities" section. b. "Current assets" section. c. "Investments" section. d. "Fixed assets
- Q Tess,a single taxpayer,earns$96,000in taxable income and$9,000in interest from an investment in municipal bonds(tax exempt) from the city of El Paso. Using the U.S. tax rate schedule for year 2022, what...
- Q Heller Company issues $950,000 of 10% bonds that pay interest semiannually and mature in 10 years. What is the bonds issue price assuming that the bonds market interest rate is...
- Q PDF Business Statistics A Study Guide X chegg - Search C Get Homework Help With Chegg X DD 2022 Distance Assignments - AFIX PDF + O...
- Q Read the table below for 3 firms: a bubble tea store, a bike store, a consulting firm. (a) Distinguish each company and discuss the reason for your identification....
- Q help me same equation three parts please ! Ries, Bax, and Thomas invested $34,000, $50,000, and $58,000, respectively, in a partnership....
- Q Prapars a flexibla budgat rapart for March. (List variable costs before fixed costs.)
- Q Exercise 12.25 (Static) Fair value option; held-to-maturity investments; financial statement effects [LO12. 1,122,123,128] Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated...
- Q distinguir entre CAM, CPM y GPM
- Q Calculate ending inventory and COGS using FIFO and LIFO methods for ABC Inc. On April 1, 2022 the balance in inventory is 220 units @ $50 each April...
- Q Case Study Two: ActFast Ltd ActFast Ltd is a company that manufactures and sells a wide range of laptops to both domestic and international market. It has two...
- Q p ...
- Q Daw Companys December 31 year-end unadjusted trial balance shows a $48,000 balance in Notes Receivable. This balance is from one 10% note dated December 1, with a period of 45...
- Q If a company issues 2,500 shares of $5 par value common stock at a market price of $32 per share, which of the following is the correct balance sheet effect?...
- Q please answer quickly. thank you
- Q Montello Inc. purchases a delivery truck for $11,000. The truck has a salvage value of $3,000 and is expected to be driven for 80,000 miles. Montello uses the units-of-production depreciation...
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