Accounting question and answers for December 05, 2023
- Q Schedule of Cash Payments for a Service Company Oakwood Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations...
- Q Linda is a clerk in the accounting department. She was interviewed by David and is excited about the proposed system that will utilize electronic funds transfer. This would...
- Q A company is evaluating the purchase of a machine for $750,000 with a six-year useful life and no salvage value. The company assumes that the annual net cash flow from...
- Q A company desiring to increase its total asset turnover could do so by using: Multiple choice question. the straight-line depreciation method and the LIFO cost...
- Q Briefly research a recent publicized fraud to become familiar with the major facts involved. Identify ways that a fraud investigator could add value in the (1) investigation, (2) legal follow-up,...
- Q A taxi driver rents their cab at a fixed rate of 80 dollars per day. The fuel expenses are 0.3 dollars per mile driven, and the revenue is 0.5 dollars...
- Q california conforms to the federal MACRS 39-year recovery period for nonresidential real property, but only for property place in service after which year?A. 1987 B. 1996 C. 2001 D. 2006...
- Q Stewart Enterprises has the following investments, all purchased prior to 2021: Stewart does not intend to sell any of these investments and does not believe it is more likely than...
- Q [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the...
- Q Martin Jackson receives an hourly wage rate of $25, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the...
- Q Mary and Kay, Inc., a distributor of cosmetics throughout Florida, is in the process of assembling a cash budget for the first quarter of 20x1. The following information has been...
- Q Sunland Company had the following department information about physical units and percentage of completion: Physical Units Work in process inventory,...
- Q Example Example April May June July August September opening cash balance 100 105 ...
- Q Aaron McKinney is a cost accountant for Majik Systems Inc. Martin Dodd, Vice President of Marketing, has asked Aaron to meet with representatives of Majik Systems major competitor to discuss...
- Q All but which of the following must be present in order for a contract may be voided based upon mutual mistake? Multiple Choice 1. The mistake must result in a...
- Q Question 7 The two types of statutory mergers include which of the following: A business combination in which one company obtains all of the assets, and often the liabilities, of...
- Q Which one of the following is not an objective of a system of internal controls? Group of answer choices reduce the risks of errors enhance the...
- Q Question Content Area Benjamin Company incurred the following unit manufacturing costs for the product: Direct materials $10 Direct labor 3 ...
- Q Explain the nature of the three major activity categories of a state or local government: governmental activities, business-type activities, and fiduciary activities. Provide examples of each.
- Q On January 1, 2024, a company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $400,000. Inventory data for 2024 through 2026...
- Q Explain the logic underlying each of the adjustments below. a. Why do we start the cash flows with net income? b. Adjustment for gross receivables c. Adjustment for allowance for...
- Q Have you ever participated in an inventory count for a merchandise business? If so, please describe the process.
- Q What examples of events and circunstances may be considered triggering events? Cost factors, macroeconomic conditions, a sustained increase in share price. Overall financial performance, microeconomic conditions, a...
- Q TS Quilts Inc. took a physical inventory at the end of the year and determined that $414,000 of goods were on hand. TS Inc. determined that $12,000 of goods held...
- Q Identify financial effects of common business activities that affect the balance sheet. Apply transaction analysis to accounting transactions. Use journal entries and T-accounts to show how transactions affect...
- Q Apple is considering expanding a store. Identify three methods management can use to evaluate whether to expand.
- Q An accounts receivable ledger is what
- Q very quick emergency, 1) Do you believe there are more pros or cons for globalization when considering intercultural communication Answer, in 250-500 words? 2) As you are aware the employer...
- Q Required: Showing workings and citations, calculate Bianca's deductions regarding the two items for the 2021-22 tax year. Where Bianca has a choice of methods in calculating her deductions, use the...
- Q Which one of the following statements concerning Roth IRAs is correct? Group of answer choices A distribution from a Roth IRA is treated as first made from contributions (return of...
- Q It is unethical to increase production and ending inventories to accommodate an expected increase in future sales. Select one: True False
- Q Dorothy Taylor, Vaughn & Thomas Fabricators accounts payable manager, has just received the companys direct materials purchases budget for the first quarter. ...
- Q Determining ending consolidated balances in the third year following the acquisitionCost method Assume a parent company acquired a subsidiary on January 1, 2017, for $1,100,000. The purchase price was $750,000...
- Q All publicly traded and privately held non public companies along with their auditors must adhere to the reporting requirements of sarbanes oxley true or false
- Q True/False A Shareholder receives a tax-free preferred stock dividend on her common stock. Subsequently, she sell both her common and preferred stock to her aunt. She will not have any...
- Q Describe one: Accounting assumption. Accounting principle. Accounting constraint. Support your rationale with an example of how your chosen topic shapes accounting rules. ...
- Q You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest) Loan amount $704,000 Interest Rate...
- Q The initial investment is $93,300 and the salvage value is $10,000. The project is expected to generate $26,659 net cash inflows and the annual net income is $4,077. State the...
- Q Condensed Consolidated Balance Sheets - USD ($) $ in Thousands Sep. 30, 2018 Current assets: Cash and cash equivalents $...
- Q $85,000 investment with a net cash inflow of $30,000 per year for a period of 6 years, a required rate of return of 13 percent, and an inflation rate of...
- Q A creditor, S. Kaprey Wholsalers, whom you owe R15 000 offers you a R450 discount if you pay the account within 15 days of the statement date and the full...
- Q Explain the logic underlying each of the adjustments below: a. Adjustment for allowance for obsolescence b. Adjustment for payables to suppliers c. Adjustment for prepaid costs d. Adjustment for...
- Q Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. Invested cash in business, $18,000. Bought office supplies...
- Q Mohawk Ltd. is a private corporation. Below are some activities for their year ended December 31, 2023: Net income after taxes for 2023 totaled $75,000. Declared and...
- Q On October 1, 2017, Adoll Company repurchased 1,000 shares of its $1 par value stock for$44 per share and held these shares in treasury. On March 1, 2019, Adoll resold...
- Q IFRS identifies _______. in time of elements.
- Q If the government wants to limit sales of a particular good, it may do so by imposing a quota. However, the same reduction in sales may be achieved by an...
- Q What do ordinary, necessary, and reasonable mean in relation to business expenses? What is the difference between personal and real property? Give (2) examples of each. What factors determine...
- Q INFORMATION The following statement of comprehensive income for the financial year ended 31 December 2021 and the statement of financial position as at 31 December 2021 have been provided by...
- Q Ethical Considerations . A company executive accidentally emailed you a confidential spreadsheet with the salaries of all the employees in the company . You took only a quick peek before...
- Q what items are included in calculating the net earnings from self-employment?
- Q show with vectors that the mediana of a triangle can form a triangle
- Q E21.6 (LO 2, 4) (Lessor Entries; Sales-Type Lease with Option to Purchase) Castle Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment to Jan Way...
- Q QUESTION 5 Read the information below and answer the following questions INFORMATION The management of Mastiff Enterprises has a choice between two projects viz. Project Cos and Project Tan, each...
- Q Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the...
- Q On June 30 (the end of the period), Brown Company has a credit balance of $2,100 in Allowance for Doubtful Accounts. An evaluation of accounts receivable indicates that the proper...
- Q a 90-day, $1200 promisory note was issued March 31 with interest at 7% what is the value of the note on June 29?
- Q Explain Stakeholder Theory. Discuss the roles play by the board of directors in the application of stakeholder theory in corporate governance.
- Q company X company y are listed on the johannesburg stock exchange. the two companies are similar in every respect except that company y is geared while company x is not....
- Q Smitty has a tax liability of $7,500. He also has federal income tax withholding of $2,200, nonrefundable credits of $8,600 and refundable credits of $3,400. What is Smittys...
- Q DO IT! 13.1 (LO 1), C Moss Corporation had the following transactions. Issued $160,000 of bonds payable. Paid utilities expense. Issued 500 shares of preferred stock for $45,000. Sold land...
- Q The following information describes a companys usage of direct labor in a recent period: Actual hours used 22,000 Actual rate per hour $10 Standard rate...
- Q Alfalfa Company developed the following information about its inventories in applying the lower-of-cost-or-market (LCM) basis in valuing inventories: Product Cost Market LCM A $210,000 $420,000 B 180,000...
- Q How does the military Thrift Savings Plan (TSP) differ from the uniformed service retirement plan?
- Q The following amortization and interest schedule reflects the issuance of 10-year bonds by Sandhill Corporation on January 1, 2014, and the subsequent interest payments and charges. The companys year-end is...
- Q October 1st inventory 340 units at $11 October 13 sales 150 units October 22 purchase 310 units assuming was perpetual inventory system AND using the weight average method, determine the...
- Q Which of the following statements about the directors of a company is TRUE? a. The creditors of a company are answerable to the directors...
- Q The following comparative statement of financial position for Dubai Co, is given for the financial periods 2019 and 2020 2020 $430,000 2019 $395,000 PPE Accumulated depreciation of PPE (170,000) (155,000)...
- Q Question 82 pts Use the Table below: Date Particulars Units Unit Cost Selling Price ...
- Q Additional information about the company follows. Common stock market price, December 31, Current Year$ 32.00Common stock market price, December 31,1 Year Ago30.00Annual cash dividends per share in...
- Q n December of 2021, Beth enters enters into a contract with Scott to represent her in a court case scheduled for trial on August 15, 2022 for a $50,000 fee...
- Q QUESTION 2 (45 Marks) Munchies and Granolas Ltd (a resident company) manufactures different brands of break-fast cereals in the Republic. The company is registered for VAT purposes. The following preliminary...
- Q QUESTION 1: What cash payment is equivalent to making payments of $839.00 at the end of every three months for 6 years if interest is 9% per annum compounded annually?...
- Q Please help. 1. T or F: Activity-based costing breaks total estimated overhead costs out into different departments to establish an overhead rate for each department. 2. T or F: Value-added...
- Q Apple is considering expanding a store. Identify three methods management can use to evaluate whether to expand.
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