Accounting question and answers for December 13, 2023
- Q Vaughn Company had beginning inventory of $22000, ending inventory of $158000, cost of goods sold of $525600, and sales of $940000. Vaughn's days in inventory is: 15.3 days. 34.9 days....
- Q Barley Company has a tax rate of 25%. Information for the company is as follows: Amount Interest Rate ...
- Q On this question what is the formula and lines used to work out the Average Payment Period ratio?
- Q Misha traded computer equipment used in her business to a computer dealer for some new computer equipment. Misha originally purchased the computer equipment for $15,000, and it had an adjusted...
- Q Note: Use the Tax Tables to calculate the answers to the problems listed. Calculate the amount to withhold from the following employees using the biweekly table of the percentage method....
- Q Find the zeros of each polynomial function algebraically. Give exact answers, NOT decimal approximations. a) f(x)= -4x+5 b) f(x)= x^2-9x-9 c) f(x)= 9x^3+x^2-9x-1 d) f(x)=x^4-7x^2+12 (Hint: Let u=x^2
- Q 4. Where and on which financial statement is interest revenue reported ? a. On the income statement as Other Income b. On the balance sheet under Retained Earnings c. On...
- Q In times of falling prices, choosing LIFO over FIFO as an inventory cost method would affect the financial statements as follows: A) Cost of goods sold will be higher and...
- Q The income statement of Pratt Inc. reports net sales of $3,749.9 million for the current year. The balance sheet reports accounts receivable, net of $535.3 million at December 31 of...
- Q Seleccione todas las que correspondan. Quin puede recibir un formulario 1099-K? A Tina se le reembolsan las comidas compartidas con amigos y familiares. El reembolso fue de $900. ...
- Q Cowboy Corporation had $300,000 in invested assets, sales of $330,000, income from operations amounting to $33,000 and a desired minimum rate of return of 7.5%. The rate of return on...
- Q 1. How is the double entry system for accounting more complete than a check book register?
- Q The production manager of a large company reports the following data for the production of the company's single product: Standard material for each unit: 4 pounds @ $3 per pound...
- Q We discussed a lawn-mowing business in this unit. Use that discussion to answer the following question. What economic decisions would be required to start such a lawn-moving business?...
- Q 1. The period of time over which the company anticipates deriving benefit from the use of the asset 2. The cost of the asset minus...
- Q Mbappe Airways replaces the seats in one of its airplanes. The new seats have a price of $970,000. The old seats have an original cost of $530,000 and accumulated depreciation...
- Q A firm had entered into a swap arrangement for notional principal of Rs 10 million with a bank, whereby the bank paid a fixed 9% and received MIBOR semi-annually ....
- Q Apple Inc. recorded journal entries for the issuance of common stock for $400,000, and the payment of interest expense of $210,000. What net effect do these entries have on stockholders...
- Q a) cost $12,000 to Hom Furniture for office equipment. Office equipment will be depreciated using double-declining balance. The expected life of the equipment is 5 years. b) Purchase store equipment...
- Q Top Brass Corporation sells decorative vases out of its three stores located around the world. Below is "per store" sales and cost data (all reported in...
- Q A sunk is a cost that: A. has been incurrd and cannot be eliminated. B. is never relevant in decision-making. C. is never a differential cost. D. all of the...
- Q Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,300 customers, but actually served 27,700 customers. The company uses the following...
- Q Qu no es cierto acerca de un partido de 3 vas? R. Una coincidencia de 3 vas es un principio de control interno. b. Una coincidencia de 3...
- Q Jim Barnes' cumulative earnings are $103,000, and his gross pay for the week is $6,400. If the FICA rates are: OASDI 6.2% on a limit of $128,400 and Medicare is...
- Q Which of the following describes when an estate may deduct a charitable contribution? Only if: A)The will (or other governing instrument) allows the contribution. B)The decedent made the contribution prior...
- Q salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO.Date Activities Units...
- Q Prepare the journal entries to record these transactions on the books of Crane Company using a perpetual inventory system.
- Q Calculate the net annual premium for an insured, age 24, gender: male, insurance period: one year. Insured amount applied: $ 200,000. (Write the answer in number without the '$' sign)...
- Q Presented below is information related to Blowfish radios for the Concord Company for the month of July. Date Transaction ...
- Q International Financial Reporting Standard No. 16 provides companies the option of valuing property, plant, and equipment at either historic cost or fair value. If fair value is selected, then...
- Q Partner Bonus Burns has a capital balance of $55,000 after adjusting assets to fair market value. Van Ness contributes $32,000 to receive a 30% interest in a new partnership with...
- Q Bill paga su factura de impuestos a la propiedad de $980 por los aos calendario. Firma contrato de compraventa el 28 de junio y cierra el 15 de julio...
- Q Target provided the following information: Standard Data Materials 10 lbs per Finished Good unit Cost of Materials $4 per lb. Labor 3 hours per Finished Good unit Cost of Labor...
- Q Use the following financial statements and additional information. STREAM LAUNCH INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 ...
- Q The following information has been taken from the perpetual inventory system of Jaxson Manufacturing Co. for the month ended September 30: Hint: The missing Ending Materials Inventory amount on Sept...
- Q Assume that Ali Company and Bader Company each invested $(201812488) for a 50% interest in an unincorporated joint venture on January 2, 2020. AB achieved net profit 15% of...
- Q Treat Dog Collars uses activity-based costing. Treat's system has the following features: LOADING... (Click the icon to view the data table.) Each collar has four parts, direct materials cost is...
- Q Hargrove Handbags uses an activity-based costing system. The cutting activity cost pool totals $148,000, and the number of cuts is the activity cost driver. The company completed a total of...
- Q Social Framework A. Discuss the culture of the organization in which the fraud occurred. B. How was the companys management impacted by the fraud and the investigation? C. How were...
- Q In the period of rising prices: I. Using LIFO will increase COGS II. Using FIFO will provide higher quality of ending inventory value on the balance sheet III. Using LIFO...
- Q ABC Co. leased equipment from XYZ Co. on July 1, Year 1 under a lease classified as finance. The present value of the lease payments discounted at 10% was $53,553....
- Q Required information The Foundational 15 (Algo) [LO13-2, LO13-3, LO13-4, LO13-5, LO13-6] Skip to question [The following information applies to the questions displayed below.] Cane Company manufactures two products called Alpha...
- Q Tell me about a time when you to had to jungle numerous projects. How were you to stay organized and what were the results?
- Q Using a minimum of 100 words, explain why it is important for a business to do a bank reconciliation monthly.
- Q EX 14-17 Profitability ratios Obj. 5 a. Return on total assets, 2077, 12.0% The following selected data were taken from the financial statements of Vidahill Inc. for December 31,20...
- Q Tas Manufacturing Ltd is considering installing a computer-controlled production line to significantly reduce its manufacturing costs. The annual after-tax cost savings are expected to be $230000, and...
- Q Suppose that a company has fixed costs of $23 per unit and variable costs $9 per unit when 20,000 units are produced. What are the fixed costs per unit when...
- Q 3. If you need P15,000 now (April 1, 2020), how much loan should you apply for from a friend who charges 12% simple discount if the loan is payable on...
- Q Which method results in the highest depreciation expense: i. during the first two years? ii. over all four years?
- Q 2) According to Ian Redpath and Robert Lickwar, which of the following is the general business interest expense limitation that will affect most taxpayers?.
- Q A creditor who obtains a judgment against a debtor is referred to as a: a. Secured creditor b. Lien creditor c. Judgment creditor d. Perfected creditor
- Q Jerzee Corp. owns an office building and normally charges tenants $31 per square foot per year for office space. Because the occupancy rate is low, Jerzee agreed to lease 1,500...
- Q An employee of A/C Corporation has found some partially completed units of Model X in a dusty corner of the warehouse. A job ticket attached to the units indicates that...
- Q ACC 317 Module Six Worksheet Template Complete this template by replacing the bracketed text with the relevant information. Accounting System Questions How does an accounting system provide accurate calculations...
- Q Stryker Corporation is a leading medical technology company headquartered in Kalamazoo, Michigan, that trades on the New York Stock Exchange. Following are selected nancial data for Stryker for the period...
- Q From the following information, calculate the payroll tax expense for New Company for the payroll of April 9: LOADING... (Click the icon to view the payroll.) The FICA tax rate...
- Q A car dealer acquires a used car for $16,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include $130 for...
- Q (a) Some financial statements are theoretically linked with each other. For instance, the statement of financial position and the statement of financial performance are linked. Explain how these statements are...
- Q ABC Co. provides the following information: Cost of Machine $100 Accumulated Depreciation $50 Cash received $50 (when machine is sold) ABC co. recognizes a loss of $0.00. Is it...
- Q According to Ian Redpath and Greg Urban, which of the following would not qualify as a current partnership distribution.
- Q MANAGERIAL ACCOUNTING 1) Buller Manufacturing is considering acquiring another facility for a cost of $610,000. The required payback period is 4.5 years. Assume annual net cash inflows are $150,000 for...
- Q 10) The use of the lower of cost or net realizable value (LCNRV) method to value inventory for reporting purposes is a departure from the accounting principle of: 3.3 Points...
- Q According to Ian Redpath and Robert Lickwar, which of the following would probably not be subject to the business interest limitation?.
- Q Markson and Sons leases a copy machine with terms that include a fixed fee each month plus a charge for each copy made. Markson made 9,000 copies and paid a...
- Q Sheridan Corporation began business by issuing 179300 shares of $5 par value common stock for $20 per share. During its first year, the corporation sustained a net loss of $29400....
- Q Target provided the following information: Standard Data Materials 10 lbs per Finished Good unit Cost of Materials $4 per lb. Labor 3 hours per Finished Good unit Cost of Labor...
- Q Equity is the correct answer.
- Q Armstrong Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/17 and 12/31/18 contained the following errors: 2017 2018 Ending inventory $50,000 overstatement $80,000 understatement Depreciation expense...
- Q Bed & Bath, a retailing company, has two departmentsHardware and Linens. The companys most recent monthly contribution format income statement follows: Total Department Hardware Linens Sales $ 4,240,000 $ 3,100,000...
- Q What is the primary role of a designated market maker (DMM)? Multiple Choice Providing a two-sided market Acting as a floor broker Functioning as a supplementary liquidity provider Acting as...
- Q Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 42,000 partially complete gallons. Transferred out, 209,000 gallons. Ending inventory (materials are 19 percent complete;...
- Q Reference the ratios below: Wiltsire Car Mfg. Company Auto Industry ...
- Q Is there something about the business context that makes egoism acceptable (or even required)?
- Q Tami Tyler abri Tami's Creations, Inc., una pequea empresa de fabricacin, a principios de ao. Superar el primer trimestre de operaciones de la empresa supuso una carga considerable para...
- Q Which of the following procedures would maintain threats at an acceptable level and not impair independence? Recording transactions to an attest client's general ledger when the member has determined...
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