Accounting question and answers for August 25, 2023
- Q Determinar el valor recibido y el valor entregado por las siguientes transacciones: Valor recibido Valor separado a) Alquiler pagado. b) Prestacin de servicios profesionales a cambio de dinero. c)...
- Q Provide the missing data in the following table for a distributor of martial arts products: Note: Enter "Turnover" and "ROI" answers to 1 decimal place
- Q Exercise Topic 6 (PROBLEM 821) Natural Care Corp., a distributor of natural cosmetics, is ready to begin its third quarter, in which peak sales occur. The company has requested a...
- Q Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 3,000 units of its product with a unit cost of $20. A...
- Q Un prestamista puede agregar 1/12 del costo estimado de los impuestos anuales sobre la propiedad y el seguro contra riesgos de la propiedad hipotecada al depsito de pago mensual...
- Q Exercise 10-26 (Algo) Research and development [LO10-8] In 2024, Space Technology Company modified its model Z2 satellite to incorporate a new communication device. The company made the following expenditures: ...
- Q Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 4% stock, $25 par, and 31,000 shares of $50 par common. During its first...
- Q On January 1, 2011, Pride Co. purchased 90 percent of the outstanding voting shares of Star Inc. for $540,000 cash. The acquisition-date fair value of the noncontrolling interest was $60,000....
- Q Please have a look at the information for the QuickBooks Certification and let us know if you feel that this is something that you would like to pursue. Do you...
- Q In preparing its bank reconciliation for the month of April 2018, Bonita, Inc. has available the following information. Balance per bank statement, 4/30/18 $79000 ...
- Q show work 3 pts) Calculate the amount of interest due on an $80,500 note due in 120 days at an interest ate of 5%. (Round to...
- Q Exercise 12-22 Data follow for the Construction Division of D. Jack Inc.: Year 1 Year 2 Sales $ 52,000,000 $ 57,750,000 Operating income 7,280,000 7,507,500 Average operating assets 200,000,000 262,500,000...
- Q Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the perpetual inventory system and the gross method. July 1 Purchased merchandise from Boden...
- Q State the basic purpose of financial Reporting standards and explain the fundamental concepts of accounting recognized by SSAP 2.
- Q Why is financial statement important in internal assessment?
- Q alfonzo incorporated Alfonso Incorporated presents at statement of cash flow's using the indirect method
- Q XYZ Company manufactures and sells a single product. A partially completed schedule of the companys total costs and costs per unit over the relevant range of 54,000 to 94,000 units...
- Q Frank is a general partner and owns 70% of partnership XYZ LP. The other 30% is owned by limited partners. The partnership was formed on January 1, 2021. On January...
- Q As of January 2,2024, The Seeplus Company had the following items in its capital structure: Preferred stock, $5 par value, $3 dividend, 100,000 shares...
- Q Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 10,000 shares of $20 par value...
- Q Using absorption costing, what is the company's unit product cost? Multiple Choice $176 $166 $134
- Q A. Fill in the table by writing your computer specifications. B. Compare your computer specification to the "Office Computer specification" by showing which is a better...
- Q The vision of Unilever Ghana Limited is to gain a competitive superiority over its competitors in the same industry in Ghana. Required: a. Using practical examples, discuss how the...
- Q HE (D/S OT) Q28: Alpha Ltd offers an audiovisual equipment hire service. The online sales process is described below. The customer sends an equipment hire request...
- Q Question 4 (25 marks) Giggles Comedy Emporium provides entertainment for birthday parties. Over the last year, Giggles has entertained at over 150 birthday parties. Giggles business is booming! The company...
- Q A company had the following purchases and sales during its firstyear of operations:PurchasesSalesJanuary:11 units at $1357 unitsFebruary:21 units at $1405 unitsMay:16 units at $1459 unitsSeptember:13 units at $1508 unitsNovember:11 units...
- Q ACCORDING TO 2019 TAX PURPOSES:Harrison Corporation reported pretax book income of $600,000.Tax depreciation exceeded book depreciation by $400,000. Inaddition, the company received$300,000 of tax-exempt municipal bondinterest. The company’s prior-year tax...
- Q At Hodgson? Corporation, direct materials are added at thebeginning of the process and conversions costs are uniformlyapplied. Other details? include: Beginning WIP direct materials?$35,000 Beginning WIP conversion costs ?$29,250 Costs...
- Q Prepaid pension benefits is not considered anoperating asset. Pension and post retirementbenefits is considered an operating liability. Pleaseclarify why Prepaid pension benefits is not partof the operating assets, and why...
- Q Analysis and Interpretation of ProfitabilityBalance sheets and income statements for 3M Company follow.Consolidated Statements of IncomeYears ended December 31 ($ millions)200820072006Net sales$25,269$24,462$22,923Operating expensesCost of sales13,37912,73511,713Selling, general and administrative expenses5,2455,0155,066Research, development...
- Q January 1, 2018, Apple is authorized to issue 200,000 shares$1.00 par common stock and 5,000 shares $200 par 5% cumulative andnon-participating preferred stock. The transactions took place in2018Jan 14: issue...
- Q true or false: The weighted-average approach toprocess costing combines the work and costs done in prior periodswith the work and costs done in the current period.
- Q Please use the values from the question submitted.Mary and Kay, Inc., a distributor of cosmetics throughoutFlorida, is in the process of assembling a cash budget for thefirst quarter of 20x1....
- Q Consider the role of the United States Treasury Department, theInternal Revenue Service, in International Taxation. What do youthink are the major obstacles facing the Internal Revenue Serviceas our markets continue...
- Q Use the information below to answer the next 3questions:At the beginning of the year, JJB Inc. estimated that overheadwould be $880,000 and direct labor hours would be 220,000 hours. Atthe...
- Q Apple has the following at Jan 1, 20182,000,000 shares of common stock issued and $1 par outstanding 4,000,000 shares authorizedAdditional paid in capital $5,750,000retained earnings $12,345,000During 2018 the following occuredNet income:...
- Q A department uses the FIFO method of process costing. All directmaterials are added at the beginning of the process. Thisdepartment has the following data for this month.182 units in beginning...
- Q Budgeted Income Statement and Supporting BudgetsThe budget director of Gold Medal Athletic Co., with theassistance of the controller, treasurer, production manager, andsales manager, has gathered the following data for use...
- Q A new business client comes to your office. There arethree owners of the business. The three individuals, Alan, Bob, andCarol, are thinking about forming a partnership. Alan is onlyinvesting $1...
- Q Pope’s Garage had the following accounts and amounts in itsfinancial statements on December 31, 2013. Assume that all balancesheet items reflect account balances at December 31, 2013, and thatall income...
- Q A partially completed pension spreadsheet showing therelationships among the elements that comprise the defined benefitpension plan of Universal Products is given below. The actuary'sdiscount rate is 5%. At the end...
- Q Warner Clothing is considering the introduction of a newbaseball cap for sales by local vendors. The company has collectedthe following price and cost characteristics:Sales price$15per unitVariable costs5per unitFixed costs50,000per monthRequired:a....
- Q The YTM on a bond is the interest rate you earn on yourinvestment if interest rates don’t change. If you actually sell thebond before it matures, your realized return is...
- Q The shareholders’ equity section of the balance sheet of TNLSystems Inc. included the following accounts at December 31, 2017:Shareholders' Equity ($ in millions) Common stock, 300 millionshares at $1 par...
- Q C. Clean-All, Inc. sells washing machines with a 3-yearassurance type warranty. In the past, Clean-All has found that inthe year after the sale, warranty costs have been 3% of sales;...
- Q Special Place, Inc., sells garden supplies. Management isplanning its cash needs for the second quarter. The company usuallyhas to borrow money during this quarter to support peak sales oflawn care...
- Q Betty DeRose, Inc. operates two departments, the handling department andthe packaging department. During April, the handling department reportedthe following information: ...
- Q Who should be included in the Audit Committees?
- Q How shall an entity subsequently measure financial liabilities?Is IFRS measurement of financial liabilities similar to that ofU.S. GAAP? Also briefly describe the requirements regarding anoption to designate a financial liability...
- Q Controllership in AccountingEmployment Rules vs Personal & Privacy ConcernsCharacters: Sandy,the controller of ABC, Inc., a small manufacturing companyJacob, the controller of Micro, Inc.,a small manufacturing companySandy is a controller...
- Q Howwoulf you carry out a needs assessment in your company.
- Q Landor Appliance Corporation makes and sells electric fans. Eachfan regularly sells for $48. The following cost data per fan isbased on a full capacity of 151,000 fans produced each period.Direct...
- Q Gazam corporations adjustedtrial balance at December 31, 20x6 included the followingCash 26,000Accountreceivable 50,000Allowance for doubtfulaccount 5,000Merchandiseinventory 41,000Land 50,000Equipment 96,000Accumulateddepreciation 16,000Account payable 115000Income taxespayable 5,000Unearnedrent 15,000Common stock ($10 par 10,000shares) 150,000Retainedearnings 60,000Sales 90,000Interestrevenue 4,000Cost of goodssold 90,000Sellingexpense 30,000Administrativeexpense 40,000Income taxexpense 12,000Loss on sale ofequipment 10,000Dividendsdeclared 15,000 460,000 460,000Prepare a balance sheet at December31,...
- Q The annual data that follows pertain toShadyShady?,a manufacturer of swimming goggles? (the company had nobeginning? inventory):LOADING...?(Click the icon to view the? data.)Requirements1.Prepare both conventional? (absorption costing) andcontribution margin? (variable costing)...
- Q give a couple of brief example of what management cando to establish a positive control environment and why this isimportant to do also how can such things be properly communicatedand...
- Q Compose a memo addressing the allocation of profits tothree partners of a new business: Alan, Bob, and Carol. It's yourresponsibility to address the potential ways in which thefirst-year profits can...
- Q DataSpan, Inc., automated its plant at the start of the currentyear and installed a flexible manufacturing system. The company isalso evaluating its suppliers and moving toward Lean Production.Many adjustment problems...
- Q Generally, we do not expect the amount in the client’saccounting system for a cash account (e.g., operating cash balanceas of 12/31/18 = $508,219.33) to match the amount that thefinancial institution...
- Q The following is the balance sheet and income statement forMetro Eagle Outfitters, in condensed form, plus some informationfrom the cash flow statement.Balance Sheet201920182017Cash and short-term investments$632,992$747,044$736,693Accounts receivable46,52140,51037,121Inventory334,452371,514303,208Other current assets129,835132,420101,388Total current...
- Q How can the activity rates (i.e.cost per activity) for thevarious activities be used to target process improvement? Giveexamples to support your position.
- Q You are about to start working at car dealership that iscurrently reporting losses due to flooding but will be profitablein a few years. Assume you’re your risk adverse and your...
- Q Universe Studios Sentiasa is a theme park licensed from a majorBollywood studio. Customers pay a fixed fee to enter the park wherethey can participate in a variety of activities such...
- Q Construct the discrete probability distribution for the randomvariable described. Express the probabilities as simplifiedfractions.The number of heads in 5 tosses of a coin. Please answer in atable to understand better.
- Q Use the followinginformation to prepare a cash budget for December.The cash balance onDecember 1 is $53,400.Actual sales forOctober and November and expected sales for December are asfollows:OctoberNovemberDecemberCashsales$77,000$81,200$87,800Sales onaccount$435,000$538,000$644,000Sales on account...
- Q It purchases cocoa beans and processes them into twointermediate? products: chocolate-powder liquor base and?milk-chocolate liquor base. These two intermediate products becomeseparately identifiable at a single splitoff point. Every 900pounds of...
- Q wanson & Hiller, Inc., purchased a new machine on September1 of the current year at a cost of $108,000. The machine’sestimated useful life at the time of the purchase was...
- Q How is a DFD different from a flowchart?
- Q Croy Inc. has the following projected sales for the next fivemonths: Month Sales in Units April 3,430 May 3,900 June 4,530 July4,115 August 4,000 Croy’s finished goods inventory policy is...
- Q Problem 16-06AThe following data, presented in alphabetical order, are takenfrom the records of Sandhill Corporation.Accounts payable$240,000Accounts receivable140,100Accumulated depreciation—buildings180,400Accumulated depreciation—equipment52,000Allowance for doubtful accounts5,200Bonds payable (10%, due 2028)500,300Buildings949,000Cash42,200Common stock ($10 par value;...
- Q Problem 16-05A a-d (Part Level Submission)The following securities are in Wildhorse Company’s portfolio oflong-term securities at December 31, 2020.Cost1,200 shares of Willhite Corporation common stock$60,0001,200 shares of Hutcherson Corporation common...
- Q The following information concerns production in the BakingDepartment for May. All direct materials are placed in process atthe beginning of production.ACCOUNT Work in Process—BakingDepartmentACCOUNT NO.DateItemDebitCreditBalanceDebitCreditMay.1Bal., 7,200 units, 1/3 completed12,36031Direct materials,...
- Q Manufacturing Income Statement, Statement of Cost of GoodsManufacturedSeveral items are omitted from the income statement and cost ofgoods manufactured statement data for two different companies forthe month of December.OnCompanyOffCompanyMaterials inventory,...
- Q Burns Company reported $664.480 million in net income in 2021.On January 1, 2021, the company had 398 million shares of commonstock outstanding. On March 1, 2021, 22.8 million new shares...
- Q The Hyatt Company is trying to decide whether it should purchasenew equipment and continue to make its subassemblies internally orif production should be discontinued and the subassembly purchasedfrom an outside...
- Q We have all heard the saying "The buck stops here". The Treadwayreport indirectly states that the "buck" stops with the Board ofDirectors and Senior Management. In addition, the Sarbanes-Oxleyact provides...
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!