Accounting question and answers for December 04, 2023
- Q What is depreciation? Question 3 options: An accounting technique used to lower the cost value of a finite-life or intangible asset incrementally through...
- Q Which of the following statements about assets is true? Group of answer choices Long-term assets are generally those with useful lives longer than one year. ...
- Q During Year 1, Starnes Corporation developed a patent. Starnes incurred the following costs related to the development of the patent: tests to perfect the use of the...
- Q Una empresa procesa la materia prima en productos F1, F2 y F3. Cada tonelada de materia prima produce cinco unidades de F1, dos unidades de F2 y tres unidades...
- Q Q1Describe management accounting and financial accounting (25 Marks).
- Q What term signifies assertions that have a reasonable possibility of containing a material misstatement that would cause the financial statements to be materially misstated? Question 21 options: ...
- Q which of the following statements is true regarding tax depreciation, depletion, and amortization? ADS (alternative depreciation system) depreciation
- Q cK Nursery, Incorporated, reports the following account balances on December 31,2024: cash, $23,000; accounts receivable, $18,000; inventory, $32,000; equipment (net), $78,500; operating leases, $8,500; accounts payable,...
- Q Which of the following is NOT a principle of internal control? Responsibilities should be clearly established. Audits should always be conducted by...
- Q how do you Participate in a WBL experience, when appropriate in real life.
- Q when an account of a debtor is written off, the current assets of the business entity is unaffected true or false
- Q Accounts often need to be adjusted because: a. there are never enough accounts to record all the transactions. b. Accounts needs to be updated due...
- Q A company produces 100 microwave ovens per month, each of which includes one electrical circuit. The company currently manufactures the circuit in-house but is considering outsourcing the circuits at a...
- Q Carl is a self-employed real estate agent. For the current year, his self-employment net earnings (revenues minus expenses) are $80,000. He is also employed as an accountant...
- Q Internal control procedures: Prevent unavoidable losses. Include policies and procedures to safeguard assets Both eliminate the risk of loss...
- Q 1. Cul es la ventaja (desventaja) financiera si Birch cierra su propia planta durante dos meses? 2. Debe Birch cerrar la planta durante dos meses? 3. A qu...
- Q What is the best rationale for why many companies use a hybrid costing system?
- Q 1. Cmo ocultaron sus identidades los miembros de Shadowcrew? Cmo pueden los ciudadanos promedio proteger sus identidades mientras interactan en lnea? Lea el caso a continuacin para responder a...
- Q Assume the following facts for Munoz Company in 2019. Munoz reported pretax financial income of $800,000. In addition, Munoz reported the following differences between its pretax financial income and taxable...
- Q What set of standards must companies listed on the stock exchange in the United Kingdom use for consolidated financial statements?
- Q A continuacin se presentan los estados de resultados de costos variables de Diggs Company y Doggs Company. Estn en la misma industria, con los mismos ingresos netos, pero diferentes estructuras...
- Q A taxpayer whose return shows a refund will not have a failure to file or failure to pay penalty as these penalties are assessed on amounts owed. Group...
- Q At December 31,2025, Riverbed Corporation had an estimated warranty liability of $96,000 for accounting purposes and $0 for tax purposes. (The warranty costs are not deductible until paid.)...
- Q If an accountant in public accounting seeks work as a controller in private industry, the expenses of job hunting may be deductible. Group startsTrue or False...
- Q Qu puede decir acerca de cmo Kodak hizo una evaluacin de necesidades para la educacin ejecutiva? Qu recomendaciones le dara a Kodak para mejorar este...
- Q The sufficiency of audit evidence refers to the ________. Question 17 options: A) logical connection with the assertion being tested...
- Q Salmone Company report las siguientes compras y ventas de su nico producto. Salmone utiliza un sistema de inventario perpetuo . Determine el costo asignado al costo de los bienes vendidos...
- Q A managerial accountant 1. does not participate in the standard setting process. 2. provides knowledge of cost behaviours in the standard setting process. 3. provides input of historical...
- Q Savannah owns and operates a consulting business. In the current year she had one employee to whom she paid wages of $14,000. Savannah contributed the required amount...
- Q A small local cinema that plays a new movie every two months has secured the rights to play a new independent movie for the next two months at a cost...
- Q Butler Corporation is considering the purchase of new equipment costing $33,000. The projected annual income from the equipment is $1,300, after deducting $11,000 for depreciation. The revenue...
- Q Chaz Corporation has taxable income in 2023 of $1,312,950 for purposes of computing the 179 expense and acquired the following assets during the year: Asset Placed...
- Q El factor PV para un flujo de efectivo en 3 aos con una tasa de descuento del 8 % es: A. .7894 ...
- Q Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1. ClockCo reports a $75,000 NOL for the...
- Q Which of the following statements is true regarding tax depreciation, depletion, and amortization? Group of answer choices ADS (alternative depreciation system) depreciation cannot be used for...
- Q Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th. For each transaction that follows the transaction on the 6th, calculate the balance in...
- Q Reggie Corporation fabrica un solo producto con los siguientes costos unitarios para 1,000 unidades: Materiales directos $2,400 Mano de obra directa 960 Gastos generales (30% variable) 1,800 Gastos de venta...
- Q Infinity Corp. purchased land from a nonaffiliate on January 1,20X1 for $100,000. It transferred the land to its subsidiary, Trust Corp., on July 1,20X1, and received $150,000 as...
- Q Registro de ganancias de empleados Mary's Luxury Travel utiliza una tabla de retencin de impuestos federales semanales. Consulte la Figura 8-4 en el texto. Se dan los datos...
- Q Task 3: Overhead budget Budget Blue Bell Jacket Company Pty Ltd has provided the following information relating to the factory overhead budget for the coming year: Table 6 Information...
- Q El grupo de construccin Roberts pag 11000 por un activo de planta que tena un valor de mercado de 205000. A cul de las siguientes cantidades se debe registrar el...
- Q how do you Participate in a WBL experience, when appropriate in real life.
- Q Las siguientes transacciones ocurrieron durante los meses de septiembre a diciembre en Nicole's Getaway Spa (NGS). Septiembre Vendi productos de spa a Ashley Welch Beauty por...
- Q what does return on assets measure
- Q Jim decides he would like start a part-time business building birdhouses. His fixed costs are minimal at $401.89 as he would build them out of his garage at home and...
- Q Pie Corporation acquired 75 percent of Slice Companys ownership on January 1, 20X8, for $96,000. At that date, the fair value of the noncontrolling interest was $32,000. The book value...
- Q An individual's business automobile held over a year is an example of what type of asset? Group of answer choices Capital asset Intangible asset Section...
- Q Ryan Cast started a business, Golf Clubs Inc, buying and re-selling used golf clubs. The business started in May and during its first month of business had the following transactions:...
- Q Maximum amount for business use of home expenses on taxes simplified method
- Q A statement of stockholders' equity lists balances of: Multiple select question. retained earnings net income cash dividends accrued dividends ...
- Q Which of the following statement about AOCI is true? Group of answer choices AOCI stands for accumulated other comprehensive income. AOCI is a component of owners' equity....
- Q Benji Walker developed keep fit programmes which he also conducted to select groups of people. The following details appeared in the pre-adjustment trial balance of Keep-fit ...
- Q The Riteway Ad Agency provides cars for its sales staff. In the past, the company has always purchased its cars from a dealer and then sold the cars after three...
- Q The accounting records of Walls China Shop reflected the following balances as of January 1, Year 3: Cash $ 19,200 Beginning inventory 19,140 (220...
- Q To avoid the tax preparer penalty for understatement of the tax liability in a disclosed position, the taxpayer's position on the return must, at a minimum Group of answer...
- Q REQ B2 The accounting records of Walls China Shop reflected the following balances as of January 1, Year 3: Cash $ 19,200 Beginning inventory...
- Q The difference between contribution margin and gross margin is: Question 8 options: gross margin excludes depreciation expenses gross margin includes depreciation...
- Q D-Mobile Wireless necesitaba capital adicional para expandirse, por lo que se incorpor el negocio. El estatuto del estado de Georgia autoriza a D-Mobile a emitir 50 000 acciones...
- Q Maximum amount for business use of home expenses on taxes
- Q Assist the directors of Springs Ltd in determining whether investing in supplements is the correct decision. Assume that the investment will be made this year and that...
- Q Under the Sarbanes-Oxley Act of 2002, to whom does the audit committee report?
- Q Bellucci Corporation ha proporcionado la siguiente informacin: Costo por unidad Costo por perodo Materiales directos ps 6.90 ...
- Q Which of the following individuals is not taxed on their worldwide income? Group of answer choices U.S. citizen working abroad Undocumented alien living...
- Q El 31 de diciembre, Louis Jeweller's hizo un asiento de ajuste para registrar $4,200 de intereses acumulados pagaderos en su hipoteca. El 10 de enero se realiz el pago de...
- Q Mark's Markers purchased a new machine to use in the manufacturing process for $2,500. The sales tax was an additional $150 and the shipping charges were $200. One...
- Q 26. When 50% of the partnership interests sell within a 12 month period, partnership immediately terminates. How is gain or loss on sale of a partnership interest...
- Q The Church of Freedom encourages its members to file tax protestor returns with the IRS, objecting to both the governments failure to use a gold standard in...
- Q Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the companys inventory balances were as follows: Raw materials $ 40,000 Work...
- Q If a taxpayer's personal property, located in a presidential-declared disaster area, is completely destroyed, the casualty loss deduction is still reduced by a required floor amount. ...
- Q Adam, age 35, is legally married to Steve, age 25, on January 1 of the current year. They have one dependent child, Eve, who lives with them. On...
- Q What group is primarily responsible for harmonization of accounting standards? A) Financial Accounting Standards Board (FASB) B) American Accounting Association (AAA) C) International Federation of...
- Q Which ratio provides an indication of the salability of the company's products? Select one: A. Account receivable turnover B. Inventory turnover ...
- Q Which of the following transactions would not be reported under investing activities in the statement of cash flows? Multiple choice question. Cash receipts from collecting principal on...
- Q A company invests $700,000 in corporate bonds in 2023 and classifies them as available-for-sale. At the end of 2023, the fair value of the securities is $650,000. In...
- Q Question Content AreaHakeem used the information from the W-2 provided by his employer when he filed his tax return. Then he realized that he forgot to include his...
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