Accounting question and answers for December 13, 2023
- Q Describe standard costs. Explain the benefits of using a standard cost system at Apple.
- Q Adjusted gross income is defined as a)Income Exclusions b)Income Exclusions Deductions for AGI c)Income Exclusions Deductions for AGI Deductions from AGI Qualified Business...
- Q anne company has total cash register of 26,460 the total includes a 5% sales tax. the entry to record the receipts wi incude a
- Q Part 1 Which of the following would be least likely to be considered a managerial accounting report? A. a report to analyze potential efficiencies and savings for the purchase...
- Q A machine with a cost of $212,000 and a residual value of $16,000 has an estimated useful life of 4 years. Operating cash flows are expected to be $62,000 during...
- Q On the day were born, a relative gave you $1,000 and does the same thing every year on your birthday (obviously, this is your favorite relative). If the interest rate...
- Q Mary Ann is working on a pretty big research project. Her manager has alerted her to the possibility that some of her research questions are likely to be questions of...
- Q Which option is a step in adopting a security mindset? Know the fundamentals and your enemy. Delineate among attackers. Hide on the internet. Focus on the strongest point.
- Q Prepare journal entries for Mars Co. for: Accounts receivable in the amount of $1,050,000 were assigned to Utley Finance Co. by Mars as security for a loan of $800,000. Utley...
- Q Suelee has $3,000 to save each year. Assuming she can earn 9%, how long will it take her to have $1,000,000 saved? Please explain using Microsoft Excel formula (required for...
- Q Un inversionista decide comprar una anualidad a cinco aos con una tasa de inters nominal anual del 12%% convertible mensualmente por un precio de X. Segn los trminos de la...
- Q Are all debts created equal? Every debt has their own dire consequence and it is important to know what they are, what will cost to you, and what exactly is...
- Q Brady Industries is deciding whether or not to discontinue its Agave Division. The divisions contribution margin is $48,600 per year. The fixed costs charged to the division total $57,600 but...
- Q The developments in accounting seems to be the logical offshoot of traditional structure of accounting. The systems like human resource accounting, inflation accounting, and social cost accounting are expected to...
- Q I am having a final in Principals of Accounting 2 from the warren reeve duchac book. The final exam is on chapters 14,15, 18 and 21. If there is anyway...
- Q Information on Bowgie Chemicals direct materials costs follows: Actual quantities of direct materials used 31,600 Actual costs of direct materials used $ 144,200 Standard price per unit of direct materials...
- Q Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. ...
- Q Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December 2016: 1...
- Q Provide an example of a tax rule designed to motivate a socially desirable activity that may not achieve its purpose or may achieve its purpose while having unintended consequences.
- Q which of the following statements about the net present value method is true? A) projects with higher net present value are preferred when all other factors are equal. B) Projects...
- Q 3. A laser surgical tool has a cost basis of $300,000 and a seven-year depreciable life. The estimated Salvage Value of the laser is $30,000 at the end of seven...
- Q Aadakilerden hangisi gnmzde ynetim muhasebesinin deimesine neden olan nemli bir faktrdr? A. ek deer zinciri fonksiyonlar B. teknolojideki kk gelimeler C. retime dayal ekonomiye gei...
- Q Excel Analytics 09-01(Static) Flexible Budget Performance Analysis [LO2, LO4] Skip to question [The following information applies to the questions displayed below.] The Munchkin...
- Q What would be the most exciting part of being a costume designer 10 sentences or more
- Q A deductible temporary difference represents: Group of answer choices 1.Temporary differences related solely to revenue (not expense) transactions 2. None of the given answers. 3. Temporary differences that will result...
- Q Daniel is currently an employee at an accounting firm. During the year, he spent $2,500 on a CPA review course and began working on a law degree at a night...
- Q A corporate bond is 8% 1000$ par, 5 year semi annual. The market rate of return is 10%. What is the price of the bond? show the work on excel
- Q Some item or type of activity that is used to proportionately distribute manufacturing overhead cost to the product being produced is known as:
- Q Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory...
- Q A) Which of the following inventory methods would be used by a company that sells relatively very high dollar items in relatively low volumes? 1)LIFO 2)Specific identification 3)FIFO 4)Weighted-average
- Q Mr. Lee owned a duplex which he used as a rental property. The adjusted basis on the property was $217000. He traded the duplex for a business complex with 10...
- Q PLEASE ANSWER EVERYTHING CORRECTLY!!! WoolCorp buys sheeps wool from farmers. The company began operations in January of this year, and is making decisions on product offerings, pricing, and vendors. The...
- Q Nolasko Enterprises earns 9% on an investment that pays back $85,200 at the end of each of the next 8 years. What is the amount Nolasko Enterprises invested to earn...
- Q 2x+2-5=
- Q Outstanding checks- have been paid by the bank -are checks returned to the payer -are bank checks -have not been received by the bank for processing - none of...
- Q Please complete schedule B on Form 1065 https://www.irs.gov/pub/irs-pdf/f1065.pdf Entity Information Entity Type: Partnership Sub-Entity Type: General Entity Name: BADEC...
- Q Remsco has taxable income of $73,000 and a charitable contribution limit modified taxable income of $78,500. Its charitable contributions for the year were $8,020. What is Remsco's current-year charitable contribution...
- Q When used for performance evaluation, periodic internal reports based on a responsibility accounting system should not: A. be related to the organization chart. B. include allocated common fixed costs. C....
- Q Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $967,800 cash. The land was appraised at $267,113 and the building...
- Q A machine that cost $6,000 had a useful life of 5 years and no residual value. After five full years, which depreciation method results in the highest balance in the...
- Q What is the term used to describe an unsecured bond?
- Q Aunt Mildreds Financial Statements: The bank says that the only way I can receive a loan is to present financial statements to them, but Ive never created anything more than...
- Q what are the big 4 accounting firm? (history, mergers, business law, revenue, classification, recruitment)
- Q A local design company has been operating as a sole proprietorship. The business is growing, and now the owner wants to incorporate it. Which of the following would be considered...
- Q Relevant revenues and costs focus on a.activities that occurred in the past. b.monies already earned and/or spent. c.differences between the alternatives being considered. d.last year's net income. ...
- Q Which of the four investment principles ,diversify, invest ethically, get good counsel and be humbledo you think is the most important, and why?
- Q When auditor has significant doubt on the entitys ability to continue as a going concern, the author should obtain evidence by: 1. Analyzing the budget prepared by the management 2....
- Q how to journal "rented and paid 4 month's rent in advance" to the general journal
- Q A cost object is identified to: a. determine the cost of that particular object b. determine the range of costs for that corporation c. determine if a product line should...
- Q Equipment costing $41,000 was purchased on January 1, 2019. It has an estimated useful life of 4 years and a salvage value of $3,000. Required: Calculate depreciation expense for...
- Q Melmore Ltd had the following activity during 20X7: Proceeds from sale of long-term investments $156,000 Gain on the sale of long-term investments $16,000 Loss on the disposal of equipment ($0...
- Q Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 01,500 units, and monthly production...
- Q Discuss the importance of ethics in accounting. Why is it important for accountants to maintain high ethical standards? What are the potential penalties to the accountant and the accountants employer...
- Q Overhead is applied to all jobs as they are completed as well as to each job still in process at the end of the accounting period. True...
- Q which of the following is false regarding the general partnership. a. general partnership cant own title to property, partner owns it and contribute its use to the partnership b. general...
- Q Star manufacturing company has two producing departments and two service departments for the month of November 2019. The Direct departmental expenses were as follows: Producing Departments X $1200 Y $1400...
- Q Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,100 pounds of oysters in August. The companys flexible budget for August appears...
- Q Benjamin Sports Camp Inc., provides the following data: 2015 2014 Cash $21,000 $18,000 Accounts Receivable, Net 31,000 35,000 Merchandise Inventory 53,000 25,000 Property, Plant, and Equipment, Net 120,000 90,000 Total...
- Q The legal regulatory framework for corporate governance in Australia fosters corporate social responsibility. Consider arguments for and against this statement.
- Q Following information is available about a process. 2,000 kg material input costing OMR 20,000 and labour and overhead is OMR 5,000. During a period 1500 kg are completed. The remaining...
- Q Baltimore Inc. reports the following cost information for March: Cost of Goods Manufactured $75,000 Manufacturing Overhead 18,250 Finished Goods Inventory, March 1 4,500 Finished Goods Inventory, March 31 2,650 Work-in-Process...
- Q Mason Company and Rodd Company both apply overhead to the Work in Process Inventory account using direct labor hours. The following information is available for both...
- Q In continuation to my previous question NORTHERN DRILLING Northern Drilling was a subsidiary of InterDrilling Corporation, the worlds third largest exploration drilling contractor, headquartered in Europe. Northern began in 2006,...
- Q Which of the following payments received by an individual are tax free? Choose the correct answer. A. eligible dividends B. capital distributions C. stock...
- Q Tinker Bell Company sold a delivery wing truck on March 1, 2022. Tinker had acquired the wing truck on January 1, 2019, for $ 52,000. At acquisition, Tinker had estimated...
- Q Victor Industries initiated the process of setting standards for the forthcoming period. The standard production cost of one of their products, V50, is determined as OMR 250. Administration, selling and...
- Q Sandhill Corporation wishes to exchange a machine used in its operations. Sandhill has received the following offers from other companies in the industry. 1. ...
- Q The Income Statement shows: A. Assets = Liabilities + Equity B. Income minus expense = net income. C Beginning retained earnings plus net income minus dividends = ending retained earnings....
- Q The balance in the Bonds Payable account is a credit of $79,000. The balance in the Discount on Bonds Payable is a debit of $3,500. The balance sheet will report...
- Q De acuerdo con las Declaraciones sobre las Normas para los Servicios de Impuestos, un CPA puede recomendar una posicin de declaracin de impuestos si la posicin es frvola y la...
- Q If selling and administrative expenses are allocated to different products, they should be reported as a a.period cost b.factory overhead cost c.cost of goods manufactured d.cost of goods sold
- Q Ayanda (55) contributed $6,000 to her 401(k) during 2022. Her employer contributed $3000 to the account. Her taxable wage income will be reduced by the amount reported in the box...
- Q Just as we did in chapter two, analyzing transactions is critical to making sure that we understand the transactions prior to recording it in the appropriate account. What are the...
- Q Please answer everything correctly! Method comparison Review the income statements on the Absorption Statement and Variable Statement panels, then complete the following table. The companys sales price per unit is...
- Q 26/ Calculate the cost of goods sold using the following information: Direct materials ...
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