Accounting question and answers for December 13, 2023
- Q If the market rate us greater than the coupon rate, bonds will be sold at a premium true or false
- Q Calculate amounts that would appear on their year-end Balance Sheet. Accounts Balances Cash $6,200 Salaries Expense $2,300 Retained Earnings $2,500 Advertising Expense $1,700 Equipment $12,400 Service Revenue $9,400 Derferred Revenue...
- Q Summarize the events of a recent accounting scandal. Identify how the illegal/unethical act was detected and the punishments that resulted (fines, prison terms, etc.). Consider what could have been done...
- Q On January 22, Shamrock Corporation issued for cash 29,000 shares of no-par common stock at $15. On February 14, Shamrock issued at par value 1,000 shares of preferred 7% stock,...
- Q Mussenden Corporation has an activity-based costing system with three activity cost poolsMachining, Order Filling, and Other. In the first stage allocations, costs in the two overhead accounts, equipment depreciation and...
- Q The haircut applied to liquid AFS assets in the sale scenario is designed to be more transparent to the public conservatively price in adverse...
- Q Your current salary is $80,000 and you expect that to increase by 5% each year. What will the present worth of your retirement fund be after 35 years if it...
- Q comparative statement analysis is also known as: A) horizontal analysis, B) vertical analysis, C) variance analysis, D) or both A/C
- Q A toy store is an example of a _________ company. Multiple Choice Service Retail Manufacturing Product-based business
- Q Beverly purchased a piece of land for $10,000 in 1999. In the current year, Beverly sold the land in an arms length transaction for $18,000. What is the gain on...
- Q Bond prices depend on the market rate of interest,stated rate of interest, and time. Requirement 1. Compute the price of the following 8% bonds of United Telecom. A. The price...
- Q What are the processes to file an objection against a decision of the Commissioner? Discuss the key features of the objection and appeal process.
- Q The face value is the amount of principal and interest due at the maturity date. True or False?
- Q 5. in an operating lease, the amortization of the right-of-use asset in the fourth year is 1. The same as in the third year 2. Zero 3. More than in...
- Q Go to the SEC Web site and look for the AAERs reported. Look for examples of earnings manipulation that resulted in financial statement fraud. Identify the specific facts of the...
- Q Ida sold equipment used in her business for $23,000. The equipment cost $11,000 and Ida had properly claimed MACRS deductions totaling $6,000. Straight-line depreciation, if it had been used, would...
- Q A piece of equipment costs $30,000, and is expected to generate $8,500 of annual cash revenues and $1,500 of annual cash expenses. The disposal value at the end of the...
- Q Match each phrase with the correct term. ...
- Q El riesgo inherente y el riesgo de control difieren del riesgo de deteccin en que el riesgo inherente y el riesgo de control son Funciones del cliente y su...
- Q teddy Bear Company sold a total of 30,000 stuffed tigers and lions. During August, the following information was gathered: what is the Teddy Bear Company total sales- quantity variance? ...
- Q I'm reading my chapter on Intangible Assets, particularly on whether the expenditure is capitalized or recorded as an expense on the Income Statement. It's written "Assets, equity, and operating cash...
- Q In limited (liability) partnerships: A. all general partner have responsibility for everyday business operations, but limited liability partners do not B. all limited liability partners have responsibility for everyday business...
- Q Question: Manilow Company makes a perfume called Allure. The standard cost for one bottle of Allure is as follows: Direct material 6 oz at $0.90 per oz Direct labour 0.5...
- Q Investigate recent developments in the technological advancements for Business analytic in Malaysia's context. Explain in details
- Q Which of the following industries is likely to have a higher inventory turnover ratio? A) Luxury car manufacturing B) Fresh produce retail C)...
- Q Analyze the physical flow for In the Doghouse In the Doghouse produces wooden doghouses with shingled roofs. At the beginning of June, there were 300 units in BWIP with costs...
- Q A construction company entered into a fixed-price contract to build an office building for $18 million. Construction costs incurred during the first year were $6 million and estimated costs to...
- Q Mussenden Corporation has an activity-based costing system with three activity cost poolsMachining, Order Filling, and Other. In the first stage allocations, costs in the two overhead accounts, equipment depreciation and...
- Q PA2. LO 11.2Jasmine Manufacturing is considering a project that will require an initial investment of $52,000 and is expected to generate future cash flows of $10,000 for years 1...
- Q What factors do you think that managers should consider when choosing a new AIS?
- Q APCO Company manufactures various lines of bicycles. Because of the high volume of each line, the company employs a process cost system using the weighted-average method to...
- Q Qu detalles aclaratorios pueden proporcionar contexto, como nmeros o tiempo?
- Q Assume that Tracy company uses a periodic inventory system and has these account balances; Purchases $404,000; Purchase return and Allowances $13,000; Purchase discounts $9,000, and Freight In $16,000. Determine net...
- Q Consider the principles, assumptions, and constraints of Generally Accepted Accounting Principles (GAAP). Define the full disclosure principle and explain why it is important to users of financial statements.
- Q Keep-or-Drop Decision Petoskey Company produces three products: Alanson, Boyne, and Conway. A segmented income statement, with amounts given in thousands, follows: Alanson Boyne Conway Total...
- Q How do you stay organized?
- Q Net income $ 9,000 Cash dividends paid to stockholders 2,300 Cash proceeds from sale of land 3,150 Cash proceeds from bank loan 5,900 Cash payment (principal) on bank loan 1,400...
- Q En no menos de 100 palabras, explique el impacto en el balance y estado de resultados, especificando qu cuentas se ven afectadas y si el saldo est sobre o...
- Q Contribution Margin Willie Company sells 30,000 units at $49 per unit. Variable costs are $30.38 per unit, and fixed costs are $301,600. Determine (a) the contribution margin ratio, (b) the...
- Q Payroll taxes include the employer's share of Social Security taxes as well as state and federal unemployment taxes. True or False?
- Q Which of the following describes the classification and normal balance of H. Gale, Capital? a. asset, debit b. revenue, credit c. owners equity, debit d. None of these
- Q Commissioner v. Kowalski, U.S. Supreme Court [434 U.S. 77; 1977] and write a 5 page summary of the case. Commissioner v. Kowalski, 434 U.S. 77 (1977), is a decision...
- Q What are some responsibilities for overseeing employees?
- Q An impairment model is used: A) To assess whether asset write-downs are appropriate for indefinite-lived assets. B) To calculate the fair value of intangible assets. C) To calculate the amortization...
- Q Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common...
- Q WhizBang Corporation discovered that hazardous waste material was buried on property it now owns by the previous owner. It will cost $1.5 million to remove the hazardous was and dispose...
- Q A lease to be classified as finance by the lessee must meet all the following requirements, except: The lease transfers ownership (ownerhip) to the lessee at the end of the...
- Q Margin of safety a. If Kirwan Company, with a break-even point at $2,080,000 of sales, has actual sales of $3,200,000, what is the margin of safety expressed (1) in dollars...
- Q Zoom company uses Perpetual Inventory System. During the month of August, Zoom purchased and sold merchandise on account as follows: August 1 Beginning inventory 35units @ $10 each 6 Purchase...
- 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 Define the Balanced Scorecard and the four sections. The Balanced Scorecard was developed to overcome what shortcoming?
- Q Sunland Company expects to purchase $100000 of materials in July and $140000 of materials in August. Three-fourths of all purchases are paid for in the month of purchase, and the...
- Q Betsy strand regular hourly wage rate is $16 and she recieves an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Betsy works...
- Q During September, the capital expenditure budget indicates a $420,000 purchase of equipment. The ending September cash balance from operations is budgeted to be $60,000. The company wants to maintain a...
- Q Federal Tax legislation generally originates in which body? Senate Finance Committee, Supreme Court, Internal Revenue Service, or House ways and means committee.
- Q a added to net income. b deducted from net income. c ignored...
- Q Two accounting researchers (TR) asked the following question: Does the mere placement of a line item in the income statement matter to investors? To answer the question, TR examined...
- Q If the Fair Value Adjustment account for trading investments has a debit balance, ________. A. it is added to the Short-term Investmentlong dashTrading account to determine carrying value B. it...
- Q The Pletcher Transportation Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Segment performance is measured using a system of...
- Q If the parent company owns 90% of the subsidiary company's outstanding common stock, the company should generally account for the income of the subsidiary under the A. cost method B....
- Q Service revenue is recognized either at one point in time or over extended periods. Explain the rationale for recognizing revenue using these two approaches
- Q Bonita Corporation issues $630,000 of 9% bonds, due in 11 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the...
- Q Gain Corp. and Loss Corp. are both publicly-held corporations, and neither has any shareholder who owns 5 percent of the stock. In the current year, the two corporations are merged,...
- Q why is is necessary to make adjustment to revenue accounts at the end of the accounting period
- Q 1. Give the definitions of the items below and what they tell us about the companys performance? Net Profit ROI Cash Flows 2. Per the book what are the definitions...
- Q 4. Sean Company has the following account balances on December 31, 2016: Cash - $ 3,000; Accounts Receivable - $ 7,500; Office Supplies - $ 200; Prepaid Rent - $...
- Q Assume (1) estimated fixed manufacturing overhead for the coming period of $220,000, (2) estimated variable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the period...
- Q Off-Line Co. has 9,000 units in beginning finished goods. The sales budget shows expected sales to be 36,000 units. If the production budget shows that 42,000 units are required for...
- Q I was wondering if you could help me with my payroll question? 1. The record of employment is used by Service Canada to determine: a) If claimant is...
- Q Convert 167 into binary and put your answer in a grid like the one shown below. Explain the process of conversion by showing your work. You can use the table...
- Q A smart phone giant wants to evaluate wireless charging. The conjoint analysis yields the following results. How much are consumers willing to pay for wireless charging (compared to lightning port)...
- Q Note: some answers I have already gotten correct. The blank ones in the final chart are what is needed. Thanks! Required Calculate the following ratios for Year 4 and Year...
- Q On the first day of the fiscal year a company issues an 8000000 11% five year bond that pays semiannual interest of 440000 receiving cash of 8308869. Journalize the first...
- Q The table below shows your stock positions at the beginning of the year, the dividends that each stock paid during the year, and the stock prices at the end of...
- Q At the beginning of 2015 Peter dots has the following Ledger balances during the year credit sales amounted to 800,000 cash collected on credit sales amounted to 760,000 and 18,000...
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