Accounting question and answers for December 06, 2023
- Q At the high level of activity in November, 5000 machine hours were used and power costs were $13000. In April, a month of low activity, 1000 machine hours were used...
- Q Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares a $2 per share dividend to stockholders of record on April 15. The dividend is...
- Q 1. Why is it appropriate to use cash basis accounting in your personal life but not in the business world? 2. You may also post a questions/clarifications on this...
- Q Hi-Tek Manufacturing Inc. makes two types of industrial component partsthe B300 and the T500. An absorption costing income statement for the most recent period is shown below: ...
- Q a company can use the inflation rate to determine the A. Capital atructure of the firm B. Growth rate of sales C. real cost of borrowing in capital...
- Q Identifique los 4 estados financieros de una empresa y el perodo de tiempo que cubre cada estado. Qu tipo de empresa es ms probable que seleccione un ao fiscal que...
- Q eBook Print Item Question Content Area Periodic Inventory by Three Methods Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases...
- Q Why would management take extra effort to ensure approximate budgets for direct labor, direct materials, and manufacturing overhead? Please provide relevant information and terminology to support your response?
- Q The Reward One Company manufactures windows. Its manufacturing plant has the capacity to produce 12,000 windows each month. Current production and sales are 10,000 windows per month. The company normally...
- Q A stock just paid a dividend of $2.74. The dividend is expected to grow at 26.14% for three years and then grow at 4.87% thereafter. The required return on the...
- Q Question 17(1 point) Question 17 options: Provide the missing number in the following equation. Enter only the digits - no dollar signs, commas,...
- Q Application of E commerce at Oman fisheries Co SAOG
- Q The following data concerning the conventional retail inventory method are taken from the financial records of Oriole Company. Cost Retail Beginning inventory $ 206000 $ 286000 Purchases 907000 1270000 Freight-in...
- Q 1. Albert Armstrong sells for $800,000 a business building, which he purchased 14 years ago for $570,000. During the 14 years of ownership, he painted the building at a cost...
- Q On 30 April 2022, Kelly Ltd purchased goods for $90,000 from Grace Ltd. This inventory had originally cost Grace Ltd $70,000. As at 30 June 2022, 25% of inventory was...
- Q On the first day of the fiscal year, a company issues a $5,300,000, 6%, 4-year bond that pays semiannual interest of $159,000 ($5,300,000 6% ), receiving cash of...
- Q The matching principle requires that efforts [expenses] be matched with accomplishments [revenues] only if the efforts [expenses] actually accomplished something [revenues exceed expenses]. True False ...
- Q FitchburgFitchburg Furniture Manufacturing (FFM) has been manufacturing furniture for the home for over 30 years. George Fearless, the owner, has decided he would like to manufacture an executive desk that...
- Q Relevant Cost Terms: Matching Studio produces and sells 4,000 specialty handbags per month and has the capacity to produce 5,000 units per month. Studio is evaluating a one-time, special order...
- Q Alaina's customer service department follows up on customer complaints by telephone inquiry. During a recent period, the department initiated 10,000 calls and incurred costs of $312,000. Of these calls, 3,800...
- Q For 2014, Nichols, Inc., had sales of 140,000 units and production of 200,000 units. Other information for the year included: Direct manufacturing labor $150,000 Variable manufacturing overhead...
- Q Two important ratios that help in understanding a company's effectiveness in managing receivables are the:
- Q in admitting a new partner who purchases an interest , the capital interest of the new partner is obtained from the current partners and both the total assets and total...
- Q Alt company has two operating departments (Sports and Concerts) and two service centers (Administration and Custodial). Data for June are as follows: Administration Custodial Costs. $42,000 $18,000 Services provided...
- Q Explain when and how to evaluate whether certain nonattest services can be provided to attest clients.
- Q 30 Loaned an officer of the company $21,000 and received a note requiring principal and interest at 7% to be paid on March 30,...
- Q Your suggestions / recommendations on how to improve auditing and reporting practices by audit firms?
- Q To what extent would you agree with the claim that Fitbits marketing management orientation is a marketing concept? Justify your standpoint with relevant points from the case study.
- Q AP8-13A (Straight-line method depreciation with change in estimate) iMotors Ltd. wanted to improve its assembly line and purchased robotic equipment for $3.6 million on January 1, 2024. At that time,...
- Q Compared to the accrual basis of accounting, the cash basis of accounting overstates income by the net increase during the accounting period of the: (1) accrued revenues receivable; (2) accounts...
- Q What are some factors considered when assessing internal controls?
- Q 16) John Co. provided the following information on selected transactions during 2021: Purchase of land by issuing bonds $1,800,000 Proceeds from issuing bonds 3,500,000 Purchases of inventory 4,200,000 Purchases of...
- Q How is Artificial Intelligence used in Developmental Cost? (Energy Accounting)
- Q Question 4 Jelly Specialties sells premium hard ice-cream from a portable trailer located in a busy public park. To promote sales, the business has created a loyalty program....
- Q On December 31 of year 1, Acme Company had assets of $150188, liabilities of $95681, and capital stock of $30759. During year 2, Acme earned revenues of $44565 and incurred...
- Q [The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31 for Year 1 and Year...
- Q September 1 - Purchased 200 sweatshirts for $20 each September 10 - Purchased 400 sweatshirts for $25 each September 14 - Sold 50 sweatshirts September 25 - Sold 200 sweatshirts...
- Q Bismite Corporation purchases trees from Cheney lumber and processes them up to the splitoff point where two products (paper and pencil casings) are obtained. The products are then sold to...
- Q karen company accumulates the following data concerning raw materials in making its finished product. 1 price per pound of raw materials is net purchase price $2.80, freight...
- Q 1.Which of the following is not a deduction for AGI on an individual taxpayer's tax return? a.Alimony paid to a former spouse b.Moving expenses c.Charitable contributions d.Interest paid...
- Q You borrow $21,000 to buy a boat. The loan is to be paid off in monthly installments over one year at 12% interest annually. The first payment is...
- Q The comparative balance sheet for the ZYX Company at December 31, 2019 and 2018 is as follows: 12/31/19 12/31/18 Assets: Cash $146,600 $179,800 Accounts Receivable...
- Q Canyon Corporation The accountant for the Canyon Corporation prepared the following list from the companys accounting records for the year ended December 31, 2014: ...
- Q Pink Corp. had 500,000 shares of common stock outstanding on January 1, 2021. On March 1, Pink issued 30,000 shares. Compute the weighted-average number of shares outstanding if the 30,000...
- Q Innovation & creativity liquidity refers to the entity's ability to go generate revenues that exceed the costs of an enterprise?
- Q Which CPA firm audits the financial statements of Lowe's? Group of answer choices Ernst & Young PricewaterhouseCoopers KPMG Deloitte & Touche
- Q Bula limited launched two Bula Dress for the market,named Cola and Sola with the same manufacturing process. Production data is: Cola Sola - quantity produced is 20000 -quantity produced...
- Q G Works acquired the rights to a mine for $350,000,000.00. The mine is estimated to hold 400,000 tons. During the year 100,000 tons were extracted and sold. Required: a) Determine...
- Q You have been asked to prepare a Schedule 1 reconciliation of accounting Net Income and Net Income For Tax Purposes for the year ending December 3 Available information includes...
- Q A few years ago, Miguel Thorpe founded Mig T Accounting Services. Mig T is aware that you and your group members are pursuing an accounting course while in college and...
- Q Although the unadjusted trial balance's debits equal credits, some balances are not properly stated because Blank______ have not yet been recorded. (Check all that apply.) Multiple...
- Q Fosbre Corporations April 30 inventory was destroyed by fire. January 1 inventory was $151,600, and purchases for January through April totaled $479,900. Sales revenue for the same period were $720,700....
- Q 1) High-Low Method to find the equation for a mixed cost XYZ Manufacturing wants to understand its machine costs Machine Hrs. Machine Costs...
- Q Net Present Value incorporates which of the following? Group of answer choices 1.risk of the project 2. time value of money 3. present value of costs 4.present...
- Q Which accounts are affected, and in which direction, by the following business activity? Use account names from the expanded accounting equation. Select all that apply. Paid the...
- Q Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $60,000 for $64,677 on January 1, 2018. The market interest rate for bonds of similar risk and maturity is...
- Q Which of the following events would NOT require a formal journal entry on a corporation's books?
- Q true or false. The accumulated earnings tax may be imposed on the same corporation every taxable year.
- Q Use the following information for the next five (5) questions: With the end goal of attracting as much customers as possible in the NCR region, Abenson Appliance Company engaged in...
- Q The ending balances in the work in process, finished goods, and cost of goods sold account are $5,000, $20,000 and $75,000 respectively. Overhead was over-applied for the period in the...
- Q Plumbing Products Ltd. reported the following data in 2018 (in millions): LOADING... (Click the icon to view the financial statements.)Compute Pare's leverage ratio, debt ratio, and times-interest-earned ratio, and write...
- Q Critical thinking is a process used to analyze a business issue or decision. There are a number of resources available to aid in that process, including big data, data analytics,...
- Q Delta Co. uses a job costing system. The following debits (credits) appeared in Delta's WIP inventory account for the month of April 2020: April Description Amount 1 Balance $5,000 30...
- Q On January 1, 2025, Cheyenne Corporation issued $460,000 of 7% bonds, due in 10 years. The bonds were issued for $494,220, and pay interest each July 1 and January 1....
- Q Match each of the fundzgnental and enhancing qualitative characteristics of financial information with the following statements a. Accounting
- Q The company expects for sales to increase by 2% for each product in the following year if the price remain the same. Determine the budgeted revenue for 2021 Sales 2020...
- Q Requirement 5. What was the cost of goods sold before proration of underallocated or overallocated overhead?
- Q Regular entries are one of the basic items of the balance sheet, as they represent one of the items of assets and liabilities in the bank. True False
- Q Which of these aspects is a social factor affected by poor environmental management? Group of answer choices Loss of reputation ...
- Q If a taxpayer is in the 24% tax bracket, at what rate will her qualified dividends be taxed at? a. 0% ...
- Q At the board of directors meeting on December 5, it is reported that the EPS of the firm is expected to be $1.25 per share. The board of directors declares...
- Q Susanna runs a hat shop in Melbourne, VIC. During the FY20, she bought 300 hats for $99 each (incl GST) and sold those hats for $220 each (incl GST). How...
- Q The classified balance sheet for a company reported current assets of $1,624,125, total liabilities of $810,540, common stock of $1,110,000, and retained earnings of $141,260. The current ratio was 2.5....
- Q Hau Lee Furniture, Inc., spends 45% of its sales dollars in the supply chain and finds its current profit of $21,000 inadequate. The bank is insisting on an...
- Q Which of the following best describes an accountable reimbursement plan? The employee provides a report showing how many business miles he drove and he receives a car allowance for a...
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