Accounting question and answers for December 10, 2023
- Q Question 1(1 point) A Company"s Goodwill will be listed among the corporation's assets on its balance sheet. a True b False c May...
- Q The basic purpose of the matching principle is to allocate the cost of an asset to expense over the years in which the asset contributes to revenue. Current accounting...
- Q what is the correct sequence of events leading uo to the crestion of financisl staremebts
- Q Show Me the Money should use a behavior approach, a results approach, or a combination of both to measure performance? in organizational behavior and give me updated...
- Q The game of Monopoly should be played on with a board, two dice, tokens, 32 houses, 12 hotels, chance cards, community chest cards, play money, and title...
- Q It is important to review not just the current ratio, but also the quick ratio and cash ratio because:
- Q Compare the total net income ( loss ) when the two stores are open with the total net operating income ( loss ) ...
- Q A contra account is an account linked with another account and is reported as an addition to the other accounts balance.
- Q mick mart collects $100 of its accounts receivable. The expanded accounting equation impact is:
- Q To qualify as a qualifying relative, an individual must meet three of five tests. These are the gross income test; the support test; the relationship or member of the...
- Q Under the present tax system, C corporation income is taxed twice, once when earned and again when the shareholders receive dividends or sell their stock. Nevertheless, the C...
- Q Item Relevant/Not Relevant a. Book value of old machine. .............................................. Relevant b. Added profits...
- Q Assuming that 3Play, Inc. understates its 20x1 ending inventory by $7,000 but correctly states its 20x2 ending inventory, determine whether the following statements are true or false. ...
- Q Why would a high current ratio indicate that the company is a good candidate for being able to repay a short-term loan?
- Q If the projected misstatement in a non-statistical sampling is $8,000, while the tolerable misstatement is $9,000, what would an auditor likely conclude?
- Q which of the following taxpayers is treated as having passive income from a rental activity hazel
- Q The following information relates to Richfield Distributors: Pre-adjustment trial balance of Richfield Distributors as at 31 December 20.1 Debit Credit Capital (1/01/20.1).........141700 Land and...
- Q The character of income isa factor in determining the rate at which the income is taxed True or false
- Q Total share holder equity
- Q McKinney Enterprises acquired Pottsboro, Inc. on January 1,2019. The $440,000 excess of cost over book valueof Pottsboros net assets was partly attributable to a patent undervalued by $210,000....
- Q Short-term and long-term classifications of assets and liabilities on a nonprofit organization's balance sheet is supported by the _____.
- Q Manufacturing costs for BikeGo Inc. for June 2023 are as follows: June 30,2023 Direct materials used ................................. $ 157,000 Direct labour ..............................................89,000...
- Q because company D must pay income tax to norNorth caCalifornia , it is not required to pay tax to any other state
- Q Rory, a retired railroad employee, received the following Form RRB-1099-R. How is the amount reported for the contributAs the gross amount of non-social security equivalent benefits (NSSEB) received...
- Q Discuss how cost behavior and cost structure impact business decisions using cost-volume-profit (CVP) analysis. Explore the significance of understanding fixed and variable costs in forecasting financial outcomes and...
- Q Celestial Inc. applies manufacturing overhead costs on the basis of machine hours. The following information is summarized after the results for the year were determined.Actual manufacturing overhead for...
- Q What are adjusting and closing entries in accounting
- Q Fred Stern and Company, Inc. (ultramares Corporation v. Tpuche et al.)
- Q Effective internal control for the authoritizion for issiung materials to the production
- Q 1. If the independent auditors decide that it is efficient to consider how the work performed by the internal auditors may affect the nature, timing, and extent of...
- Q had 800000 shares of common stock outstanding on january 1 issued 112000 shares on may 1 purchased 56000 shares of treasury
- Q For companies using FIFO or average cost, inventory is valued at: Question 6 options: 1) Net realizable value. 2)...
- Q What is the appropriate treatment in an interim financial report for variances arising from the use of a standard costing system?
- Q GROSS INCOME SOURCED AT THE PARTNER LEVEL MAY NOT HAVE BEEN ENTERED ON FORM 1116. Foreign incoe is required in order to claim foreign tax credit or...
- Q Unearned revenues are: Multiple Choice Liabilities recorded when customers pay in advance for products or services. Revenues that have been earned and received in cash....
- Q Classify each of the following costs relative to the cost object client project for a CPA firm that specializes in audit: Product or Period Variable, Fixed,...
- Q If the ending inventory count is overstated by 2300 for 2021 what effect will this have on the 2021 financial statements
- Q Jagvir Singh is hired by Sylvia Wang to help with budgeting, determining the costs of the firm's meal services, and recording transactions and creating financial statements. Jagvir is a...
- Q Select the correct answer to the question, "When can a recognized gain exceed the realized gain?"
- Q what is income tax receivable?
- Q A tax office running an EIC maximization hustle is deliberately understating multiple clients' incomes via fraudulent Schedule C deductions. Three hundred (300) clients are pulled by...
- Q The amount of time that is expected to elapse until an asset is realized or otherwise converted into cash is referred to as O solvency. O financial flexibility. O...
- Q Suppose a company's quick ratio is 1.8. If the company were to repay some accounts payable using cash, which of the following would be TRUE? ...
- Q Which of the following is true regarding capital projects funds? Question 13 options: be recognized as a contribution at fair market value. Encumbrance accounting...
- Q Where in its financial statements does Carnival Corporation & PLC report Prepaid Advertising?
- Q 2. A bond has an YTM of 12 percent and a coupon of 11 percent. Explain carefully whether this bond would sell for a discount or premium and...
- Q A car dealer offers you a "buy now, pay later" deal in which you can buy the car now, and pay $1000 every month for the next 3...
- Q alpha: Asset 1: 0,016; Asset 2: -0,02 beta: Asset 1: 0,77; Asset 2: 1,46 Var(): Asset 1: 0,02; Asset 2: 0,01 The expected return of the market portfolio is assumed...
- Q Which one of the following is the correct order of usage, from most often to least often, for the four primary exit planning paths? A) Transfer to...
- Q Use option pricing analysis to determine whether Alchemy Mines should accept the proposed copper mine project. a. Determine whether the project cash flows have the characteristics of a put option...
- Q Last year the XYZ corporation had issued 7.0% coupon(semi annual),30 year AA-rated bonds with a face value of $1,000 to nance its business expansion. As of today, the market price...
- Q A $10,000 loan at 9% compounded monthly is to be repaid by three equal payments due 6, 9 and 12 months from the date of the loan. What is the...
- Q 33. One of the causes of the large losses experienced by the Long-Term Capital Management hedge fund was A. Large speculation on the Japanese stock index B. Speculation on the...
- Q There are 2 bonds: A. 9% coupon rate annual payments yield to maturity 6.5% 10 yrs till maturity par value 1,000 B. 4% coupon rate annual payments yield to...
- Q Mr. Chan saves $1,000 per year at the beginning of each year for 8 years, starting from today. The original payments earn 5% annual interest, but the interest received on...
- Q What is the difference between a profitability ratio and a liquidity ratio? I AM SURE A profitability ratio shows a firms ability to pay its short-term obligations, whereas...
- Q The consulting agency must better plan inventory needs for their new water/wastewater facility. When the populations need clean water, and the facility does not have the necessary materials to provide...
- Q I am working in Bloomberg and I'm trying to collect supply chain data for all of the companies in the S&P500. Right now I'm able to collect individual data for...
- Q Question 5 You are considering investing in Microsoft stock. From Bloomberg, you download information on its beta coefficient, which is equal to 2. The risk free...
- Q Choose at least two concepts you have learned in Finacial reporting II from chapter 15 to chapter 22 and explain how you may use them in your present or future...
- Q Use the following information to answer the question: Target cash balance is is $4,000 Maximum cash balance is $19,000 the lower cash limit is $1,000. If the firm with the...
- Q Filer Manufacturing has 7,780,416 shares of common stock outstanding. The current share price is $50.58, and the book value per share is $9.01. Filer Manufacturing also has two bond issues...
- Q Youve observed the following returns on Crash-n-Burn Computers stock over the past five years: 14 percent, 7 percent, 17 percent, 15 percent, and 10 percent. a. What was the arithmetic...
- Q in activity-based costing, unit product costs computed for external financial reports do NOT include
- Q When a partnership is formed, assets contributed by the partners should be recorded on the partnership books at their
- Q roi can be measured in eithr dollar or rate of return itersm which of the following statesments about roi is false
- Q in the C3W summary tab of the analyze correlation between revenue, trade AR, and cash, what dies the correlation difference between revenue and trade ar represent
- Q darden coporation uses the weighted average method in its process costing system. first precessing department, the welding department, started the month with 21,000 units
- Q When using a flexible budget, a decrease in activity within the relevant range: Group of answer choices decreases variable cost per unit. increases variable cost per...
- Q Which statement/s related activity-based costing is/are correct? Statement 1: short-term variable overhead costs should be traced to products using volume-related cost drivers, such as machine hours or direct...
- Q An auditor may not use the gross profit method to verify the accuracy of the reported cost of inventory.
- Q Amounts reported on Schedule K-1(Form 1065) for a publicly traded partnership (PTP) may increase or decrease the partner's outside basis. Which of the following will increase the...
- Q Assume a parent company acquired a subsidiary on January 1,2020. The purchase price was $1,148,000 in excess of the subsidiarys book value of Stockholders Equity on the acquisition...
- Q Cheryls Chevrolet Dealership purchased ten cases of oil that the company will eventually sell to customers. This describes the oil as a ___________________ asset. For-use...
- Q net cash flow from a transaction equal the differece between cash received abnd casCash disbursement in the transaction, true or false
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!