Accounting question and answers for August 12, 2023
- Q Assume Posey were to obtain an internationalsubsidiary with non-US$ functioning currency. Prepare a memo thataddresses the following critical elements:A. Outline the unique calculations required to complete theconsolidation worksheet.B. Outline the...
- Q 1- Suppose receipts of $20,000 aremoved from March to April. (March receipts are now planned at$94,999 while April receipts are planned at $110,210.)- What change would this have on the...
- Q On January 1, 2017, the Kane Kite Company leased a newfabric-cutting machine from Stewart Standard, Inc. Under the termsof the lease, Kane Kite must pay $ 200,000 at the beginning...
- Q Problem 4.2 Open-to-Buy ProblemJane buys men’s sport shirts. She is in the process ofestimating her June and July open to buy. As of June 10, she hasactual stock on hand of...
- Q Question 2: Sunny Ltd., a hand sanitizer manufacturer, has prepared itsfinancial statements for the year ended at December 31, 2019. OnFebruary 28, 2020, the board of directors authorized to issue...
- Q 1)You are likely using various forms of social media (e.g.,Twitter, Facebook). Please explore the idea of how would thisnon-financial information external to the company be of use? Whatother nonfinancial information...
- Q Question 3 10marksBarton Company requested a large loan from First National Bank(FNB) to acquire a large piece of land for future expansion. Bartreported current assets of R1,900 ,000 (R430 000 in...
- Q Shadee Corp. expects to sell 550 sun visors in May and 320 inJune. Each visor sells for $21. Shadee’s beginning and endingfinished goods inventories for May are 60 and 45...
- Q Discuss the extent to which decision making is relevant in anorganisation. ( 15 marks)ANSWER THE QUESTION IN NEARLY 1000 WORDS.
- Q [The following information applies to the questionsdisplayed below.]Beech Corporation is a merchandising company that is preparing amaster budget for the third quarter of the calendar year. Thecompany’s balance sheet as...
- Q You have recently been hired as the assistant controller forStanton Temperton Corporation, which rents building space in majormetropolitan areas. Customers are required to pay six months ofrent in advance. At...
- Q Pls do not handwritten for easy reading === ===Question:-The following are mutually exclusive scenarios.a) During 20X2 , a Singapore-incorporated company, JK Pte Ltd,discovered that the inventory as stated in the...
- Q A.Product Costs using Activity RatesAtlas Enterprises Inc. manufactures elliptical exercise machinesand treadmills. The products are produced in its Fabrication andAssembly production departments. In addition to productionactivities, several other activities are...
- Q Bank ReconciliationThe following data were accumulated for use in reconciling thebank account of Creative Design Co. for August 20Y6:Cash balance according to the company's records at August 31,$14,900.Cash balance according...
- Q CFO of Graham Del plans to have the company issue $500 millionof new common stock and use the proceeds to pay off some of itsoutstanding bonds. Assume that the company,...
- Q Complete a Horizontal ModelAcquired cash of $225,000 from the issue of common stock.Borrowed $175,000 cash from the bank on April 1, 2018.Paid $285,000 cash to purchase fixed assets - land...
- Q Complete an Income StatementAcquired cash of $225,000 from the issue of common stock.Borrowed $175,000 cash from the bank on April 1, 2018.Paid $285,000 cash to purchase fixed assets - land...
- Q HK Limited has 100 employees. Each employee earns two weeks ofpaid vacation per year. Vacation time not taken in the year earnedcan be carried over to two calendar years. Paid...
- Q Problem 26-17Here are data on three hedge funds. Each fund charges itsinvestors an incentive fee of 10% of total returns. Supposeinitially that a fund of funds (FF) manager buys equal...
- Q Complete a Statement of Stockholders EquityAcquired cash of $225,000 from the issue of common stock.Borrowed $175,000 cash from the bank on April 1, 2018.Paid $285,000 cash to purchase fixed assets...
- Q DEPRECIATIONCalculate the complete depreciation table for an asset with a CostBasis of $80,000, a Salvage Value of $20,000 and a useful life of 6years with the Declining Balance 200% method...
- Q 1. FastTires issued $5,000,000 of five-year, 10% bonds on June 30, 20Y5,for $5,405,550. The bonds pay interest quarterly, beginningSeptember 30, 20Y5. At the date of issuance, the market rate was8%. Calculate...
- Q Alcoa is the world's leading producer ofprimary aluminum, fabricated aluminum, and alumina. The followingis a press release from the company:Alcoa Announces 33% Increase in Base Dividend, 2-for -1Stock SplitPITTSBURGH—Alcoa today...
- Q Sam’s Electronics Universe has discovered and investigated akickback fraud perpetrated by its purchasing agent. The fraudlasted eight months and cost the company $2 million in excessinventory purchases. The perpetrator personally...
- Q AugRealElectronics is a midsized electronics manufacturer. Thecompany president is Shelly Couts, who inherited the company. Thecompany originally repaired radios and other household applianceswhen it was founded over 70 years ago....
- Q a. Rory Inc. is a manufacturer of windows. Rory primarily sellsto residential builders who take delivery of windows only when thehouse is at the stage at which the windows can...
- Q Woo Ltd. recently conducted an extensive review of itsaccounting and reporting policies. The following accounting changesare an outgrowth of that review:Woo acquired a machine at a cost of $400,000 in...
- Q Wubben, Inc. manufactures two products. It currently has 2,000hours of direct labor and 1,000 hours of machine time available permonth. The table below lists the contribution margin, labor andmachine time...
- Q “The ordering of the three sections of the statement of cashflows is ‘backwards’ for start-up firms, but it is more appropriatefor businesses once they are up and running.” Explain.
- Q 1. Barker Industries issued 3 000 $1,000 bonds at 105. Each bondcontains 20 detachable stock warrants that allow the bondholder topurchase a share of Barker's common stock for $50. Immediatelyafter...
- Q Minden Company introduced a new product last year for which itis trying to find an optimal selling price. Marketing studiessuggest that the company can increase sales by 5,000 units for...
- Q Sunny Ltd., a hand sanitizer manufacturer, has prepared itsfinancial statements for the year ended at December 31, 2019. OnFebruary 28, 2020, the board of directors authorized to issue thefinancial statements...
- Q Suppose a company can replace the packing material it currentlyuses with a biodegradable packing material. The company believesthis move to biodegradable packing materials will be well-receivedby the general public. However,...
- Q Kitchenware, Inc., sells two types of water pitchers, plasticand glass. Plastic pitchers cost the company $15 and are sold for$30. Glass pitchers cost $24 and are sold for $45. All...
- Q Northwood Company manufactures basketballs. The company has aball that sells for $25. At present, the ball is manufactured in asmall plant that relies heavily on direct labor workers. Thus,variable expenses...
- Q discretionary fixed cost
- Q The master budget is the company’s plan for achieving theirgoals. The process has a distinct starting and ending point. Inlooking at the sales budget, the sales budget dictates what theother...
- Q The following information is presented for the WorldwideAuditor's Association. For the year ended November 30, 2017, theorganization had set a membership goal of 100,000 members with thefollowing anticipated results (and...
- Q FIFO and LIFOCosts Under Perpetual Inventory SystemThe following units of an item were available for sale duringthe year:Beginning inventory 47 units at $44Sale 20 units at $68First purchase 17 units...
- Q Describe in your own words the importance of the financialstatement assertions.
- Q You can choose anything you want.Please do fast you can.Please provide an original post AND please reply to at least oneclassmate's post around one of the topics from this week,explaining...
- Q Last month, Laredo Company sold 580 units for $90 each. Duringthe month, fixed costs were $3,330 and variable costs were $9 perunit.Required:1. Determine the unit contribution margin andcontribution margin ratio.2....
- Q ABC Corporation purchased a land for P500,000 during 2017 andchooses the revaluation model in accounting for its land . Thefollowing information relates to that land , which is the only...
- Q answer question #1The Glory Mountain State Ski Area The Glory Mountain State SkiArea – owned and managed by a state public authority - expects toattract 292,500 skier days during the...
- Q answer question #3 The Glory Mountain State Ski Area The GloryMountain State Ski Area – owned and managed by a state publicauthority - expects to attract 292,500 skier days during...
- Q P23-8B (L03,6,8) (SCF—Direct and Indirect Methods) Comparativebalance sheet accounts of Hamblin Company are impresented below.Additional data: 1. Equipment that cost $20,000 and was 40%depreciated was sold in 2017. 2. Cash...
- Q To open a new store, Linton Tire Company plans to invest$212,000 in equipment expected to have a four -year useful life andno salvage value. Linton expects the new store to...
- Q Golf Guide is seeking new customers through both direct mail andmagazine ads. In a recent period, Golf Guide spent $25,277 ondirect mail and spent $34,173 on golf magazine ads. The...
- Q Addison Manufacturing holds a large portfolio of debt securitiesas an investment. The fair value of the portfolio is greater thanits original cost, even though some debt securities have decreasedin value....
- Q On July 1, 2020, Davis Corp. issued 10-year, 800 Bonds, ParValue $1,000 each, Bonds carry 10% coupon rate, with interestpayable semi-annually on January 1 and July 1. Thebonds were issued...
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