Accounting question and answers for August 30, 2023
- Q Explain three reasons why state and local tax differs from federal tax.
- Q which of the following best represents a screening decision? a. determining which project has the highest net present value. b.determining if a projects internal rate of return exceeds the firms...
- Q Compute the cost of direct materials in the flexible budget for the number of units manufactured for Giles Company based on the following data. Budgeted units of production for June...
- Q poidle company has budgeted total sales for april and may at $200,000 and $250,000 respectively. Sales are 42% credit, of which 35% is collected in the month of sale and...
- Q the journal entry to record the conversion of a$6,300 accounts payble to a notes payables woud be
- Q Question 2 a.Distinguish between vouchering and verification b.State the objectives of verifying motor vehicle items appearing in the accounts
- Q is a high quality product more or less expensive than a poor quality product
- Q Marigold company purchased equipment on january 1, 2019 for 86,000 with an estimated salvage value of 24000 and estimated useful life of 8 years. On january 1, 2021, Marigold decided...
- Q The individual financial statements for Abbey Company and Bellstar Company for the year ending December 31,2024, follow. Abbey acquired a 60 percent interest in Bellstar on January...
- Q Problem 9-39 Preparation of Master Budget (LO 9-3, 9-4, 9-5, 9-6) [The following information applies to the questions displayed below.] ...
- Q 34. Question (2 marks) On November 30, the A Company signed a contract with the B Company to sell a printing machine. Under the contract terms the Company B pays...
- Q Howard Cooper, the president of Gibson Computer Services, needs your help. He wonders about the potential effects on the firm's net...
- Q Create a strategic group map for Second Cup and at least three of its industry competitors using price range (lowest highest) and product type (standard custom) on each...
- Q The following activities occur for ABC County. Sales taxes are shared between the county, the towns located within the county, and the state, with 50% retained by the county...
- Q Problem 11-15 (Algo) Review problemunderstanding liquidity measures LO 11-1 Assume that the current ratio for Arch Company is 2.5, its acid-test ratio is 2.0, and its working capital is $360,000....
- Q Blue Spruce Corp. issues 6500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show a A. credit to Bonds Payable...
- Q Santinis new contract for 2018 indicates the following compensation and benefits: Benefit Description Amount Salary $ 137,500 Health...
- Q Required Information [The following information applles to the questions displayed below.] Assume that Timberline Corporation has 2023 taxable income of $240,000 for purposes of computing the $179 expense....
- Q What are the key or main factors to consider when considering where to locate a supermarkets CDC
- Q The following activities occur for Park County. By year-end 2020, the county had distributed $1,900,000 of sales taxes due to the towns. In addition By year-end 2020, the county...
- Q What is management by exception
- Q Which of the following alternative accounting methods is(are) allowed by ASPE and IFRS for reporting accounting changes? a. retrospective only b. prospective and retrospective c. current and prospective d. current...
- Q Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $153,357; beginning inventory $122,003; cost of goods sold...
- Q TOM has a philosophy of continuous improvement of products, but not processes. O True False
- Q Please question f and g (I want an analysis more than the calculations) thank you f. Yes, borrowing is needed as at end of quarter 2...
- Q What are the key or main factors to consider when considering where to locate a supermarkets CDC
- Q Come-Clean Corporation produces a variety of cleaning compounds including Grit 337 and Sparkle silver polish. Grit 337 is a coarse cleaning powder that costs $1.20 a pound to...
- Q Hi-Town Nursery is considering the purchase of a new greenhouse. The greenhouse will have an initial cost of $20,000 and an estimated salvage value of $3,000 at the end of...
- Q What is the difference between direct write-off method and allowance method? Direct write-off method, a company does not anticipate bad debt...
- Q Discuss four or more areas that the government makes deliberate effort to provide effective financial information reporting.
- Q On a trial balance, there is difference between total debits and total credits divisible by 9. If this is the only error, you can track it down and make the...
- Q urgent Required: Juniper Enterprises selis handmade clocks. Its variable cost per clock is $15.50, and each clock sells for $31. Calculate Juniper's contribution margin per...
- Q Cash flows from financing activities include which of the following? A. Payment of interest B. Proceeds from issuing common stock ...
- Q ...
- Q How does corporate dividend policies effect their ability to attain additional equity capital
- Q A company has current assets of $120,000 and current liabilities of $80,000. What is the current ratio? A)0.67 ...
- Q discuss the necessary measures forensic accountants take in order to adhere to rules on admissibility of evidence
- Q Cash dividends divided by net income describes which of the following ratios? Asset turnover Profit Margin on sales Payout ratio Rate of return on common stock equity
- Q Edmonton Lumber has a raw lumber division and a finished lumber division. The variable costs are as follows: Raw lumber division: $120 per 100 board-feet of raw...
- Q At May 1, 2022, Sheffield Corp. had beginning inventory consisting of 320 units with a unit cost of $7. During May, the company purchased inventory as follows: 640 units...
- Q Leslie Swift, a taxpayer in the less than 15 percent tax bracket, purchased stock as an investment on July 11th of last year. She sold the stock on July 9th...
- Q To help assess how well a manager has controlled costs, actual costs should be compared to what the costs should have been for the actual level of activity. True or...
- Q Company A owns a van as non-current asset. This transportation element was acquired for 50,000 on 01/01/2017. Company A year-end is on 31st December. The annual depreciation rate is 20%....
- Q to start should I add ?
- Q Q1. Pearl Bhd issued 120,000 units of ordinary shares at a price of RM3 per share at the following terms: Per Share (RM) On application 1.00...
- Q Are coupons considered as liability when they increase liability? Is there a different when coupon trade on premium or discount when we record liability?
- Q Retrospective application is required for all a. errors and changes in estimates. b. errors and non-mandated policy changes. c. changes in estimates. d. changes in estimates and non-mandated policy changes.
- Q Goulds Corp. pays a constant $7.55 dividend on its stock. The company will maintain this dividend for the next 15 years and will then cease paying...
- Q Question 2 (50 points) Star Inc. began operations on December 1, 2014. The transactions for the first month follow. a. A shareholder paid Star Inc. $50,000 cash for...
- Q A company receives a 5%, 90-day note for $1,800. The total interest due on the maturity date is: (Use 360 days a year.)
- Q Cost Behavior Analysis in a Restaurant: High-Low Cost Estimation (LO2) Assume a Papa John
- Q Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-of-period spreadsheet was prepared for the year ended August 31, 20Y9: ...
- Q A company has a unit contribution margin of $120 and a contribution margin ratio of 40%. What is the unit selling price? $200. $300. $48. Cannot be determined.
- Q You are evaluating a new machine that has a four-year life and costs $100,000. The pretax operating costs of operating the machine are $25163 per year. Use straight-line depreciation to...
- Q Whispering Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1,2025. The terms of acquisition for each...
- Q Crimpson Company has invested $2,100,000 in a plant to make commercial juicer machines. The target operating income desired from the plant is $310,000 annually. The company plans annual sales of...
- Q Singer Company has a line of credit with United Bank. Singer can borrow up to $307,500 at any time over the course of the Year 1 calendar year....
- Q 1. Discuss and explain the independent auditor's responsibilities to detect and report errors and frauds? 2. Can an auditor place complete reliance on internal control to the...
- Q Walmart must consolidate subsidiaries that are partially owned. Evidence of this fact can be found in the income statement, the balance sheet, and the statement of cash flows, where noncontrolling...
- Q Question 6(22 pts): Margin Account Assume you sell one July '23KC HRW contract today at $5.2875; its initial is $2,310 with a maintenance of $2,100. ...
- Q 21. In a criminal case, which of the following is true concerning whether a trial will be bench or jury? a. The decision is made by the prosecutor. b. The...
- Q Problem 23-32 needs to be solved. All of the information is listed for the problem as well as all of the requirements. Please show all work
- Q erpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: April 1 Inventory 420 units at $8 10 Sale 300 units 18 Purchase 280...
- Q undefined Question On 1 January 2020. Parent Ltd acquired (on an ex-dividend basis) all the outstanding shares of Subsidiary Ltd whose shareholders are to receive one share in Parent...
- Q The developments in accounting seems to be the logical offshoot of traditional structure of accounting. The systems like human resource accounting, inflation accounting, and social cost accounting are expected to...
- Q Sandhill Company issued $444,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is payable semiannually on July 1 and January 1. Sandhill Company uses the effective-interest method...
- Q Course: International Business Question: explain the significance of culture for international business; identify the sociocultural components of culture; explain the importance of the ability to speak the local...
- Q #IAS OR #IFRS what accounting standard are use for sole proprietorship? what accounting standard are use for partnership? what accounting standard are use for corporation?
- Q Two investment opportunities have positive net present values. Investment A's net present value amounts to $40,000, while B's is only $30,000. Does this mean that A is the better investment...
- Q A process cost accounting system is most appropriate when the focus of attention is on a particular job or order. a variety of different products are produced, each one requiring...
- Q Exercise 10-5 (Static) Working Backwards from Labor Variances (LO10-2] Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost....
- Q Taxpayer received a court award in a physical injury suit against National Gossip. He received $120,000 for damages to his professional reputation, $100,000 for damages to his personal reputation, and...
- Q The comparative balance sheets for 2021 and 2020 and the income statement for 2021 are given below for Arduous Company. Additional information from Arduouss accounting records is...
- Q On January 31, 2018 Logo Logistics, Inc., issued ten-year, 4% bonds payable with a face value of $7,000,000. The bonds were issued...
- Q XYZ company is about to pay a dividend of $6.27 per share. The dividend is expected to grow at a rate of 12 percent annually. If the current cum-dividend stock...
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