Accounting question and answers for December 05, 2023
- Q 1/ for federal income tax purposes, a partnership includes a syndicate true or false
- Q Sean, who is single, received social security benefits of $8,440, dividend income of $12,600, and interest income of $2,110. Except as noted, those income items are reasonably consistent from year...
- Q Accounting for Cash Flow hedges under IFRS
- Q CASE A (For the next 5 questions) You were tasked to audit the Noncurrent Assets Held for Sale Account of Hero Company for the year ended 2022. After detailed investigation,...
- Q Picard Company uses a job-order costing system at its Kingston plant, which has a Machining Department and a Finishing Department. Its job costing system has two...
- Q Shaanxi mining Company (GH) Ltd. is a Chinese mining company operating in Ghana. Using relevant examples discuss four (4) factors that might propel Shaanxi to engage in Corporate Social Responsibility...
- Q Sheridan Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently isnt equipped to...
- Q Once a CPA has determined that the accounts receivable have increased due to slow collections in a tight money environment the CPA would be likely to
- Q P10.2 (LO 1, 5) (Classification of Acquisition Costs) Selected accounts included in the property, plant, and equipment section of Lobo Corporations statement of financial position at December 31, 2021, had...
- Q MacBook and MacBook Pro are two divisions at the Apple Group. The MacBook division manufactures batteries which it sells to other divisions and external customers. The MacBook Pro division has...
- Q Since the SUTA rates changes are made at the end of each year, the available 2022 rates were used for FUTA and SUTA. Note: For this textbook edition the rate...
- Q Wireless, Inc. has outstanding 500,000 shares of $2 par common stock and 100,000 shares of 8% preferred stock with a par value of $5. The preferred stock is cumulative and...
- Q All of the following Sec. 197 intangibles acquired after August 10, 1993, must be amortized over 15 years EXCEPT a A.Covenant not to compete entered in connection with...
- Q Jasper is single and a computer software consultant with a college degree. He feels that one of the reasons for his success is that he continually updates his knowledge by...
- Q If a company has net sales of $700,00 and cost of goods sold of $455,000 the gross profit percentage is what?
- Q the parameter of KPi Target Return Rate was set as 0.1. what foes this paramenter means and how it is calculated?
- Q Read the below information and answer the following questions INFORMATION Extract of the Statement of Comprehensive Income for the month ended 31 May 2022 R Sales 100 000 Cost...
- Q given f(z) =sinz/1+cosz find the second order derivative of f(z)
- Q Discuss four areas of conflict in the work of a management accountant.
- Q There is only one hard and fast rule regarding military pay. What is it?
- Q What is a foreign tax paid credit
- Q The goal of OB is to understand the behaviour of people at work in order to develop interventions, systems, and processes that ...
- Q Calculate the Charity Deduction for a Corporation given the following: Donated a painting held (held for six years) as an investment to a museum which displayed the painting: Basis $180,000...
- Q Standard cost systems differ from actual cost systems in the assignment of None of the answers are correct. Labor costs only. Material costs only. Overhead costs only
- Q Distinguish between auditing standards and generally accepted accounting principles and give two examples of each. Auditing standards have been criticized by different sources for failing to provide useful guidelines...
- Q Identify any errors in the following partial balance sheet. Napa Vino Company Balance Sheet December 31, 20Y6 Assets Current assets: Cash $78,500 Notes receivable $300,000 Interest...
- Q why do the tax-exempt securities can be risky in an investment?
- Q _______________occurs when one partners entire equity interest in the partnership is terminated A. Partnership termination B A liquidating distribution, C. A current distribut, D. All of the above
- Q Can you solve this question please Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the...
- Q Which of the following items will increase inventoriable costs for the buyer of goods? Questi Accountir freight charges paid by the purchaser purchase...
- Q If instead the noncontrolling interest shares of Devine had traded for $4.76 surrounding Holtzs acquisition date, what is the impact on goodwill?
- Q A corporation began 2021 with $38000 balance and accounts receivable and an $600 balance and the allowance for doubtful accounts. During 2021 the company had a credit sales of $45000...
- Q At December 31, 2020 the following balances existed on the books of Kingsley Ltd.: Bonds Payable $1,840,000 Interest Payable 50,000 If the bonds are retired on January 1,...
- Q Assume that John and Nan form a corporation. John transfers a property (A/B $200, FMV = $1,000) for 100 shares. Nan contributes $50 and $950 worth of services to the...
- Q On data privacy act A non-teaching personnel engaged in pre-marital sexual relations. She got pregnant out of wedlock and married the father of her child. Unfortunately, she was dismissed...
- Q Auditing cash balances, the existence of a client's cash balance is pretty easy to confirm. However, the controls related to the reported cash balance are key to testing cash. What...
- Q The common stock of CrisisGreat is expected to earn 14 percent in a recession, 7 percent in a normal economy, and lose 4 percent in a booming economy. The probability...
- Q Gross investment minus depreciation is equal to: a. the change in capital stock. b. the value of durable goods. c. gross national product. d. non-residential investment
- Q How to report Basic and diluted EPS on the financial statement? Show journal ertries! and what accounts we would record them to
- Q BBC Company sold 43,000 units of its product at a price of $300 per unit. Total variable cost per unit is $175, consisting of $168 in variable production cost and...
- Q Tutorial question IAS32 & IAS37 ABC entered a pre-sale contract with an investor who is entitled to a 10% discount on the token price at the Initial Coin Offering...
- Q A tour company uses two measures of activity, routes and passengers in its cost formulas used for budgeting and performance evaluation. The cost formula for tour operating costs is $56,860...
- Q Fill in Correct answer: The partnership's net income for the first year is $50,000. Nancy's capital balance is $83,000 and Betty's capital balance is $11,000 at the end of the...
- Q In accounting, depreciation refers to? (NOT ANS. D) deterioration of a fixed asset systematic and rational expensing of fixed asset cost the...
- Q Question 185 pts Which of the following would not be included in the definition of cash? Group of answer choices NSF checks money...
- Q Elasticity of Demand is the degree to which a change in the amount of advertising and promotions affects the quantity demanded. (True or False)
- Q Respond to the following for AirBnB: Historical Financial Statements (Income Statement, Balance Sheet and Statement of Cash Flows) from the 3 most current years for the firm. These should...
- Q Apple is considering expanding a store. Identify three methods management can use to evaluate whether to expand.
- Q Monica bought a $1,350 4K Ultra HD TV 20% down and payments of $216 per month (except for a smaller final payment) including interest at 15% compounded monthly. Construct the...
- Q Vicky Le, an employee of Sweet Shoppe Industries, receives a bonus of $5,000 for her stellar work. Her boss wants Vicky to receive $5,000 on the check. She contributes 3...
- Q find the slope of the tangent to the curve y=3x2-2x+5 at the point (1,6)
- Q Twix Dots Skor Net income $ 7,800 $ 196,000 $ 141,600 Depreciation expense 58,600 15,600 47,200 Accounts...
- Q under the tax cuts and jobs act (TCJA), bonus depreciation increased to 100% and applies to both new and used property. However, for california tax purposes, bonus depreciation is what...
- Q Find the average payment period if accounts payable is 550,000, cost of goods sold is $654,000, and sales are $5,000,000.
- Q Which accountie method is characterized by recording revenue when it is earnedand expenses when they are incurred?OCash accountingO Cost accountingO Managerial accountingAccrual accounting
- Q Concord Corporation issues $550,000 of 12% bonds that are due in 9 years and pay interest semi-annually. At the time of issue, the market rate for such bonds is 10%....
- Q The Corporation's inventory was $24,000 and $28,000 at the end of years 1 and 2, respectively . The Corporation's accounts receivable were $ 30,000 and $35,000 at the end of...
- Q Customer loyalty programs are used to attract and keep customers and when accounting for these programs all of the following statements are true, except for a a contra sales account...
- Q Question 75 pts The custodian of a company asset should Group of answer choices be an accountant have access to the accounting records...
- Q 1. Johnny, a cash basis taxpayer, owns two rental properties. Based on the following information, compute the amount that he must include in his 2016 gross rental income. ...
- Q Do you think that the learning phenomenon could be helpful for any company or do you think there are companies that it may not apply to as much? What are...
- Q True/False The Full Dividends received deduction is not permitted in the corporation has net operating loss for the year
- Q The following information applies to the questions displayed below.] The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate...
- Q Locate and Download the Consolidated Financial Statements of Nestle group (year 2016 or 2017). Based on the information in the above Financial Statements answer the following questions: What accounting policies...
- Q What are the three different ways to break down the percentages in a contingency table?
- Q In great detail, please explain what substanive participating noncontrolling rights are
- Q Listed below are a companys monthly unit costs to manufacture and market a particular product. Unit Costs Variable Cost Fixed Costs Direct materials P2.00 Direct labor 2.40 Indirect Manufacturing 1.60...
- Q Now within the allowance method, we have 2 ways of calculating it. What are those 2 methods and how do they differ?
- Q Calculate the Charity Deduction for a Corporation given the following: Inventory (Canned food) to a charity which used it in its charitable activities (feeding the homeless): Basis $70,000 FMV: $100,000
- Q Here are comparative financial statement data for Waterway Company and Lisa Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. ...
- Q Tarik and Shauna James are married and have three dependent children. Jocelyn is 17 years old and is a full-time college student. Joseph is 13 years old, and...
- Q Question 131 pts Use the Table below: Date Particulars Units Unit Cost Selling Price ...
- Q Takara produces Products A, B, and C. The following table provides per unit information relating to the three products: Product A...
- Q As inventory and PPE assets on the balance sheet are consumed, they are reflected: Select one: A. As a revenue on the income statement...
- Q Morgan loaned $3100 to rolf at a simple interest rate of 0.65% per month. what was the term of the loan if the total interest came to $221.65?
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