Accounting question and answers for December 09, 2023
- Q Agency fund/custodial accounts for assets held by a governmental unit in an agency capacity for employees or for other governmental entities.O TrueFalse
- Q The following information was extracted from the Pre Adjustment Trial Balance of Tshoma Traders on 30 June 2021: BALANCE SHEET ACCOUNTS SECTION Capital...
- Q 3.In the context of activity-based costing, transferring overhead costs to support and production departments is referred to as __________ overhead costs. assigning allocating applying...
- Q what must a forensic accountant consider when applying and interpreting financial ratios?
- Q false or true the taxpayers pays an explioit tax to the tax jurisdiction
- Q Manufacturers producing unique or customized products would employ a(n) A. process costing system. B. job-costing system. C. homogeneous costing system. D. all of the above.
- Q on the statement of cash flows, cash paid for advertising would be classified as
- Q calfee corporation is a manufacturer that uses job-order costing
- Q How would payments to acquire debt instruments of other entities be classified on the statement of cash flows?
- Q Mine reads if the preference shares in the group were non-cumulative 1.ordinary dividends would not b accounted for 2. Arrear dividends would b...
- Q Indirect method of cash flow from investng activities
- Q and than why is it 5/6 and not 6/6 if its the last month of the year
- Q Tyler paid $3,700 on account to the company from which equipment was purchased on credit. This transaction would
- Q The unadjusted trial balance that you prepared for PS Music at the end of Chapter 2 should appear as follows: PS Music UNADJUSTED TRIAL BALANCE...
- Q Why is the cash-basis method simpler to use than the accrual-basis method of accounting? Why might you choose to use one over the other?
- Q Rino Co. pays $35,000 for equipment. The machine's useful life is estimated at 10 years, or 50,000 units of product with a $5,000 salvage value. During the first...
- Q Which of the following is true with respect to Special revenue funds? Multiple Choice A. Special revenue funds are used when it is desirable to provide...
- Q Rocky Mountain Corporation makes two types of hiking bootsXactive and Pathbreaker. Data concerning these two product lines appear below: Xactive Pathbreaker Direct...
- Q Julia is the owner of a small office building with various rent-paying tenants. For tax purposes, under what section of the Internal Revenue Code would this property be...
- Q Knowledge Check 01 How should the wages of a sheet metal worker in a fabrication plant be classified? multiple choice 1 Product...
- Q Why is it a challenge for fund manager to review financial statements from other countries
- Q what are the ending cash balances if the firm uses any cash in excess of the minimum to pay off its short term borrowing in each month
- Q Whether a note receivable from a related party would be included in the balance sheet with notes receivable or accounts receivable from customer FASB
- Q The master budget of a merchandising company includes a:
- Q If Georgia's Form W-2 reported $5,000 of employer-paid dependent care benefits in box 10, how much would her Child and Dependent Care Credit be?
- Q Control activities intended to ensure that transactions are recorded in the right period are designed to achieve the ASB assertion of
- Q adjusting entries that should be revessed include all accured revenue
- Q relevance of high low method in management decision making
- Q How to solve
- Q Dan and Bailey are joint filers on the Federal return, but wish to file separate California returns. Under which scenario is this possible?
- Q A credit: Multiple Choice Is the left side of a T-account. Is the right side of a T-account. ...
- Q Neon Lighting is comparing actual and applied overhead amounts at the end of the year and finds that the factory overhead account has a credit balance. Which of the...
- Q amortizing prior service cost for pension plans will: Multiple choice Increase retained earnings and increase accumulated other comprehensive income
- Q If you are married, you may qualify for head of household status if: You file a separate return from your spouse You paid over one half the...
- Q Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information...
- Q The risk that an auditor will conclude, based on substantive procedures, that a material error does not exist in an account balance when, in fact, such an error does...
- Q What is the effect of an accrued expense (such as salaries expense) adjustment on the income statement and the balance sheet?
- Q Hazlett & Family is organized into two geographic markets Northern and Southern. The company makes an off-road vehicle for recreation and agricultural use. The vehicle is sold...
- Q If a prospective new audit does not the auditor to contact its existing auditor
- Q What is the most likely agreement between the consulting company and the customer who was provided the high-dollar service on account.
- Q Assume that sparks uses a perpetual specific identification system.
- Q The intent of the audit plan is to provide an overall approach withhin which audit
- Q john is 17 years, single, and claimed as a dependent on his parents tax return. this year, john received 6000 of interest from corporate bonds that his parents...
- Q a. Calculate the activity rates for each of the four activities. (Round your answers to 2 decimal places.) b. Calculate the total cost of each job...
- Q Which of the following is an example of restricting access? Multiple Choice Giving a separate cash register to each cashier. Comparing the...
- Q A balance sheet is a statement of a company's
- Q When is it best to use a scorecard?
- Q When merchandise that was sold is returned, a credit to Customer Refunds Payable is made. True False
- Q Explain why depreciation for book and tax purposes will generally be different over the useful life of a depreciable asset
- Q Please, answer this problem with hand written answer for each questions, Step by step with the answer
- Q $ millions Feb. 3,2019 Jan. 28,2018 Operating assets $9,940 $9,636 Nonoperating assets 419846 Total assets $10,359 $10,482 Operating liabilities $3,926...
- Q This year, Mr. and Mrs. Cullen paid $93,000 interest on a mortgage incurred in 2008 to build their home in Forks, Washington. The average principal balance of the...
- Q Department One Department Two Total budgeted manufacturing overhead $858,000 $1,310,400 Total budgeted direct labor hours 312,00010,400 Total budgeted machine hours 20,800208,000 ...
- Q Ernie Brooks lived and worked exclusively in California until he retired on December 31,2023. He moved to Nevada on January 1,2024. His former California employer pays its employees...
- Q What was the stratergy of tuhoe
- Q Research has found that three factors exist when fraud occurs. Which of the following is one of the three factors of the fraud triangle? Multiple Choice Rationalization...
- Q Marin Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production...
- Q White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass...
- Q Unlike traditional cost allocation which is a bottom up system activity based costing cost can be more easily assigned to individual patients individual physicians particular diagnosis reimbursement contracts managed...
- Q the balance in the supplies account before adjustment at the end of the year is 6,250
- Q At the end of 2024, Sol Company reported the following amounts on its balance sheet: Cash $27,600 ...
- Q 44. The City of Pfeiffer starts the year of 2024 with the general fund and an enterprise fund. The general fund has two activities: education and...
- Q is volume-based an appropriate cost driver for activity based costing?
- Q True or False: A notary must keep a journal entry of every notarial act performed unless the original or copy of the notarized document is retained by the notary's...
- Q Which of the following are true of CVP analysis? Multiple select question. CVP analysis relies on certain assumptions that might limit the applicability of the CVP...
- Q Resources are categorized as flexible, which are supplied as needed, and committed, which are supplied in advance of usage. True False
- Q Which form is attached to the state return to calculate the taxes due to a dependent taxpayer whose income is place on their parents' return?
- Q Consider the following situations for Shocker: Employee salaries for the month of December totaling $6,300 will be paid on January 7,2025. On August 31,2024,...
- Q In evaluating the appropriateness of audit evidence, auditors consider its Blank______. Multiple choice question. relevance and reliability sufficiency and volume
- Q Vanka and Sonya are registered domestic partners. Nether had dependents they could claim for 2023.What is Vanka's and Sonya's correct and most favorable 2023 filing status on their...
- Q Select all that apply Internal control procedures for cash disbursements (other than small disbursements from petty cash) should include that (Select all that apply.) Multiple...
- Q Select all that apply The break-even point calculation is affected by Blank______. Multiple select question. sales mix selling price per unit ...
- Q in a general ledger how do you record purchased office supplies on account
- Q The income statement approach for estimating bad debts uses a percentage of
- Q Question Content AreaAmigos Industries analyzed the relationship between total factory overhead and changes in direct labor hours. It found the following: Y = $6,000+ $6X ...
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