Accounting question and answers for August 10, 2023
- Q Assuming that you are a manager of well-known MNC status organisation in Malaysia, and you are having diverse cultural background of employees. Your top management was getting worried...
- Q If WIP is managed so that it averages w=400 (which is the current level), compute the Best Case, Worst Case and Practical Worst Case (PWC) values for Throughput and Cycle...
- Q The difference between actual and standard costs is called _____. a.coupon cost b.cost margin c.flexible cost d.cost variance \
- Q Marked out of 1.00 A tax return filed using the Married Filing Separate (MFS) filing status will automatically not qualify for which of the following...
- Q On May 20, White Repair Service extended an offer of $108,000 for land that had been priced for sale at $140,000. On May 30, White Repair Service accepted the seller's...
- Q During the year, Valdez Co. paid life insurance premiums of $400,000 on its executives. These life insurance premiums are never tax deductible expenses, but are business expenses when calculating financial...
- Q QUESTION 3(FINANCIAL INSTRUMENTS)[IAS32, IFRS9][30 marks] On 1 January 2017, Munya Tsatsa (Pty) Ltd, a company based in Lephalale purchased government bonds for R1600000. The...
- Q SARAH'S SOAPS VARIANCE ANALYSIS Budget Actual Fav(Unfav) ...
- Q Which of the following is an example of a cash inflow from a financing activity? Receiving cash for the sale of Land paying dividends to stockholders Paying down debt Receiving...
- Q Discover the percentage of inventory as raw materials, work in process, and finished goods for Honda Motor Co. and Toyota Motor Co. Raw Material Inventory as % of Total Inventory...
- Q Accounting information Systems The third question (A) - What are the audit objectives that fall within the principle of avoiding conflicting duties and responsibilities? (B) - What are the main...
- Q Madeoff donated stock (capital gain property) to a public charity. He purchased the stock 3 years ago for $100,600, and on the date of the gift, it had a fair...
- Q Persephone has a regular tax liability of $12,975 and a tentative minimum tax of $11,550. Given just this information, what is her alternative minimum tax liability for the year? $0...
- Q The Salary Expense account is debited for: A. gross pay minus employee payroll liabilities. B. payroll tax liabilities only. C. gross pay only. D. gross pay plus employee payroll...
- Q Class, what is EDGAR XBRL Validation Errors and Warnings?
- Q Comson stock-\$15 par value, 100,...
- Q Patsy smith is planning to sell her special knife for $15 per unit. She purchases units from a local distributor for $6 each. She can return any unsold units for...
- Q On a manufacturer's income statement expenses are separated into the following three categories: production, period, and indirect materials, work in process, and finished goods production, selling, and administrative variable, fixed,...
- Q C. Prepare an income statement following IFRS L'One reports the following income statement accounts for the year ended December 31, 2013 (euros in millions)....
- Q On March 15, Monroe Sales sells $9,525 on account to Garrison Brewer with terms of 2/10, n/30. The cost of goods sold was $6,905. Required: (a) Journalize...
- Q In July of 2019, the Allen's finally sold their home in Chicago for $490,000. They purchased the home 10 years ago for $350,000. They lived in the home, as their...
- Q Cairns owns 80 percent of the voting stock of Hamilton, Inc. The parents interest was acquired several years ago on the date that the subsidiary was formed....
- Q Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2015, Hester received $10,040 of qualified dividends and he received $6,040 from a part time...
- Q Computer Corporation is starting its computer programming business and has sold stock of $15,000. Identify how the accounting equation will be affected.
- Q Discussthe role of accounting in financial management. (10)
- Q Lucy decided to itemize on her return. She has the following receipts: Federal income tax $10,000 State income tax $1,000 County real estate tax $2,000 Fee...
- Q Your company has 100 units in inventory, purchased at $16 per unit. These units have a current market value of $14. The entry to write-down the inventory will include a:...
- Q You have decided to open a bookstore that sells textbooks and competes with the campus bookstore. List one internal control procedure you would implement in running the store. Do you...
- Q Can you please answer all the questions and provide the general journal entry as well, Thanks! On January 1, 2021, the general ledger of Parts Unlimited includes...
- Q Moon Valley Landscape Supply completed the following selected transactions during 2025: View the transactions. credits. Exclude explanations from journal entries.) Jun. 14: Wrote off...
- Q Montague (age 15) is claimed as a dependent by his parents Matt and Mary. In 2015, Montague received $5,160 of qualified dividends and he received $960 from a part time...
- Q On June 30, 2018, Plaster, Inc., paid $996,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $249,000....
- Q Discover the liquidity, solvency, and profitability ratios for Honda Motor Co. and Toyota Motor Co.
- Q Which of the following represents a reason why a company might prefer to issue bonds instead of issuing shares of common stock? Select all answers that apply. For...
- Q Financial Statements The transactions and integrated financial statement framework for Terry Mason for February 20Y4 appear below: Terry Mason organized The Fifth Season at the beginning of February 20Y4. During...
- Q On January 1,2024, Sledge had common stock of $270,000 and retained earnings of $410,000. During that year, Sledge reported sales of $280,000, cost of goods sold of $145,000,...
- Q Changes in Current Operating Assets and LiabilitiesIndirect Method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 2014 Dec. 31, 2013 Accounts receivable $26,500...
- Q Question 35 Explain the role of management accounting in documenting sustainability practices. BI YA I E Z3 X X E [ 12pt Paragraph
- Q During the most recent year, Evans Company had operating income of $93,000 using absorption costing and $85,000 using variable costing. The fixed manufacturing overhead application rate was $6...
- Q Which of the following is not the example of functional budget? Cost of goods sold Budget Research and Development Budget Production Budget Sales Budget
- Q Mandrake Motorcycles - Balance Sheets 31-Dec-15 31-Dec-14 Assets Current assets:...
- Q Discount Dollar uses a perpetual inventory system. Suppose Discount Dollars Purchases totaled $68,000, Purchase Returns totaled $5,200, Purchase Allowances totaled $1,500, Purchase Discounts totaled $2,800, and Freight In totaled $5,000....
- Q Brokeback Towing Company is at the end of its accounting year, December 31, 2018....
- Q 1) The second wave of the COVID 19 pandemic has continued to challenge the accounting practices of organisations. Outline six (6) accounting policy implications as a result of the ongoing...
- Q 1. Mrs. Jones owns 55% of the shares of Jones Consulting Ltd. and 40% of the shares of White Enterprises Ltd. The remaining 45% of the shares of...
- Q Under what circumstances can an owner of polluted property be held liable under CERCLA? A. When the leaking takes place during the time period...
- Q 2: Break-even Analysis Implications of different pricing strategies and cost structures on the break-even point
- Q Bonita Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. On June 1, Bonita sold 25 units,...
- Q This is april ,and income tax returns must be filled
- Q Identify each of the following statements as either true or false. a. A guideline for saleguarding cash is to separate the duties of...
- Q END OF PAPER END OF PAPER
- Q Nate's Hot Dogs exchanges long-term assets with Lizzy's Lemonade. Nate receives a delivery truck and gives up a piece of machinery. The fair value and book value of the machinery...
- Q Please check if I did it right. Thanks! Halifax Corp. has a December 31 fiscal year-end. The company will release its financial statements for the fiscal year 2015 on March...
- Q Summarise the key facts about financial reporting accounting fraud of Enron Scandal (2001) (write 500 words)
- Q When the perpetual inventory system is used, the inventory sold is shown on the income statement as
- Q The financial statements of the Randolph Merchandising Company report net sales of $750,000 and accounts receivable of $100,000 and $140,000 at the beginning of the year...
- Q QUESTION 2(LEASE ACCOUNTING- LESSEE)(IFRS16][40 MARKS] Eagle Limited has a factory that is situated away from established commuter routes and provides bus transport services for its employees from...
- Q You have entered into an agreement to purchase a local accounting firm. The agreement specifies you will pay the seller $150,000 each year for six years. What is the cost...
- Q Exercise 8-5A Allocating costs on the basis of relative market values LO 8-1 Carver...
- Q Transaction: equipment to be replaced in 3 years at an expected cost of 60,000( the aquisition of teh euipment is 45,000) What does the 60,000 really mean? Does this amount...
- Q Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 200 employees and occupies 50,400 square feet; Painting has 50 employees and occupies 33,600 square feet. The company...
- Q ProForm acquired 60 percent of ClipRite on June 30, 2017, for $960,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $700,000 was recognized and is being...
- Q A2 part? Rentexpense Salaries expense Supplies expense Depreciation expense 9.200 25,600 2,000 $122,4256,625$122,425 CRANE COMPANY
- Q REQUIRED Use the information given below to prepare the Income Statement of Costa Enterprises for the year ended 31 December 2022 using the absorption costing method. (10 marks) INFORMATION Costa...
- Q step by step why answer is 75,000 Lowes sells merchandise to customers. Cost of inventory is 70% of the selling price. - Lowes uses a gross method...
- Q Neslund Ornamentals offered a 2% trade discount to Parsons Retail Outlet for all purchases over $200,000. Parsons Retail Outlet purchased $300,000 from Neslund Ornamentals on account. Neslund uses the periodic...
- Q Which of the following statements is true about a capital expenditure budget? a.It does not affect the cash budget of the year. b.It is often prepared for not more than...
- Q Which of the following dates related to dividends require(s) a journal entry? Select all that apply. The date of declaration The date of record ...
- Q Journalize and post the following transactions Evaluation of the years sales indicated that warranties related to current years sales are estimated to be $30,000. The...
- Q What function does the receiving department serve in the revenue cycle
- Q Can you please create a Genaral Journal, Income Statement, and Balance Sheet based on the information given below. ...
- Q Question 1 (5 points) Boe Corps stockholders equity at December 31, 2014 is shown as follows: 6% noncumulative preferred stock, $100 par (liquidation value $105 per share) $100,000 Common stock,...
- Q Prepare a schedule of expected cash collections for April, May, and June, and for the quar
- Q The difference between the applied overhead and the budgeted overhead is the _____. a.fixed factory overhead volume variance b.total factory overhead cost variance c.variable factory overhead controllable variance...
- Q Question 2 (5 points) Harris Pilton Inc. has 5,000 shares outstanding on January 1. The company issued 2,000 new shares on May 1, repurchased 3,000 shares on August 1, and...
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