Accounting question and answers for December 14, 2023
- Q Charles, a self-employed real estate agent, attended a conference on the impact of some new building codes on real estate investments. His unreimbursed expenses were as follows: Airfare 480 Lodging...
- Q reflection of the movie the wolf of wall street and reflection of the movie working girl
- Q Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities. ...
- Q NO LONGER NEEDED THIS INFORMATION. CLOSE THE QUESTION. Need the following: 1. To Record the transaction in the General Journal Events During January Event Date Description of Event ...
- Q What is always true about trial balance reports? 1.Only acct with activity during the period are included in the report. 2.All accounts with balance are included in the report 3.the...
- Q choose the right answer . On April 1, 2019, the premium on a one-year insurance policy was purchased for $3,000 cash with the insurance coverage beginning on that date. The...
- Q Which of the following is not a common form of employee fraud? a. Kickbacks b. Larceny c. Skimming d. Earnings management
- Q At the end of 2016 South East Pacific airlines was interested in acquiring Rochester Aviation Inc a privatelyheld service company provinding passenger and executive services ramp handling cargo handling technical...
- Q Brooklyn files as a head of household for 2023. They claimed the standard deduction of $20,800 for regular tax purposes. Their regular taxable income was $80,000
- Q What is the solution? (3)/(x^(2)-3x)+(1)/(3-x)=2 Type a response
- Q In your own words, explain what is the nature of the fiduciary duties owed by directors towards their companies. Give an actual example of a fiduciary duty owed by directors...
- Q Ten years ago a corporation purchased a building for $ 120 comma 000$120,000. At that time, the corporation felt that the building was worth $ 145 comma 000$145,000. The current...
- Q The use of the SDLC for IT system changes is important for several reasons. Which of the following is not a part of the purposes of the SDLC processes? ...
- Q Tristar Production Company began operations on September 1, 2018. Listed below are a number of transactions that occurred during its first four months of operations. On September...
- Q Which of the following allowances for bad debt should the company enter into their financials for an Accounts Receivable account with a balance of $1,500,000 if the company estimates that...
- Q Q13. A dispute has arisen over the condition of the premises at the end of a tenancy and the matter of releasing the bond has to be finalised....
- Q How did you get goodwill? Where did 4,038,600 come from
- 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 Hushovd Iron Works has collected the following data for its Thunderbolt line of products: Direct materials standard 7 pounds per unit Direct materials standard cost $ 0.74 per pound Actual...
- Q Revenue will be recorded earlier under ASPE revenue recognition criteira than IFRS revenue recognition criteria True False
- Q Which of the following items is NOT a long-term asset: o Trade receivables o Fixtures and fittings o Property, plant and equipment o Motor vehicles o Goodwill o Land and...
- Q the lease involved land and buildings
- Q what is the European public policy view about automation?
- Q Which of the following statements is correct with regard to the election made on Form 4351? A)It must be renewed every three years. B)The decision is irrevocable as long as...
- Q The audit trail lists: Multiple Choice All deleted transactions All changes to transactions User ID of person entering transactions All of the...
- Q A credit may result in a. an increase in a liability b. an increase in a revenue c. a decrease in an asset account d. All of these
- Q Question 1: [38 marks]Below is the Ledger of Timothy Kingfisher for January 2022 DRCapital 5/1/2022TotalBank 6/1/20228/1/202210/1/2022TotalPurchasesTotalCR30,00030,000CR 20,0001,00012,00033,0003,00020,00020,000 Closing balance / c/d 30,000BankOpening Bal / b/dPurchases ComputerOffice...
- Q Precision Manufacturing Incorporated (PMI) makes two types of industrial component partsthe EX300 and the TX500. It annually produces 52,000 units of EX300 and 11,700 units of TX500. The...
- Q QUESTION 15 Lilou Co.'s contribution format income statement for the most recent month is shown below: Total...
- Q A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor for $6.60 each or...
- Q Mosbey Inc. est trabajando en su presupuesto de efectivo para junio. El saldo de efectivo inicial presupuestado es de $16,000. Los recibos de efectivo presupuestados suman $188,000 y los desembolsos...
- Q What is difference between IFRS and GAAP? What are the similarities between IFRS and GAAP?
- Q basic computation: testing TWo populations have a mound-shaped symmetrical distributions. A random sample of 16 measurements from the first population had a sample mean of 20, with the sample standard...
- Q Steve Edwards Enterprises is a sole proprietorship. It is planning to purchase a significant amount of property this year, all of which will be classified as 5-year property for purposes...
- Q Identify two examples of financial judgments that could have a significant impact on the financial statements.
- Q A firm reported ($ in millions) net cash inflows (outflows) as follows: operating $63, investing ($191), and financing $354. The beginning cash balance was $259. What was the ending cash...
- Q How is the per unit product costs determined for a manufactured product? Group of answer choices dividing total direct materials, direct labor, and manufacturing overhead for a production run...
- Q Appalachian Ski Mountain sold 2,000 season passes at $750 before the start of the 2025 ski season.Appalachian recognizes the revenue equally over the 5-month season which runs from Novemberthrough March....
- Q Measures of liquidity, Solvency, and Profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 52 on December 31, 20Y2....
- Q Which cost is not recorded as part of the cost of a building
- Q Applied overhead is: Group of answer choices likely to be the same amount for every product made by the company. determined at the end of the year when...
- Q Suppose a single firm produces all of the output in a contestable market. The market inverse demand function is P = 250 -4Q, and the firms cost function is C(Q)...
- Q Jasper hace un prstamo en efectivo de $87,000, 90 das, 7% a Clayborn Co. La entrada de Jasper para registrar la transaccin debe ser:
- Q Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases (listed in chronological order of acquisition): 41 units...
- Q Assume that Fahad Company has Inventory on January 1 at cost of $6,600. And purchases inventory on March 17 at cost of $74,300. On June 6 it returned $4,300 of...
- Q Assume that in a two period model the current stock price is $25/share. The gross rate of return on the stock over each period is either +40% or -20% while...
- Q Major investing and financing activities that do not involve cash do not have to be reported as part of the statement of cash flows.
- Q a) choose a company you are familiar with. Describe the flows of the following transactions through the accounting cycle of the company that you have selected. (12 Marks) (i) Sales...
- Q Barkley Company sells two products, red cups and black mugs. Barkley has fixed costs of $210,000. Barkley predicts that it will sell 5 red cups for every 2 black mugs...
- Q Western Manufacturing produces a single product. The original budget for April was based on expected production of 10,000 units actual production for april was 8.000 untis original budget and actual...
- Q XYZ Company uses the formula y = a + bX to predict and analyze overhead costs. In the previous year, XYZ used $1,750 per month for the a factor and...
- Q Melanie Corporation declared cash dividends of $15,300 during the current year. The beginning and ending balances in dividends payable were $630 and $1,050, respectively. What was the amount of cash...
- Q Assume the bank offering a 30-year fixed rate mortgage loan, payable monthly at 5.25% annual interest rate does not charge any points. What is the effective interest rate? Group of...
- Q If the Estimates icon does not appear on your screen in QuickBooks, select: Multiple Choice Edit Menu > Preferences > Jobs and Estimates > Company Preferences ...
- Q (I) Warranty expense and (II) provision for warranties are what type of accounts? a. (I)Expense, (II) liability b. (I) Expense, (II) asset c. (I) Expense, (II) equity...
- Q The cost of returns is built into the overhead of catalog retailers. Which are the factors that must NOT be included in overhead costs: sorting faulty accepting returns...
- Q The following data have been taken from the accounting records of Larder Corporation for the just completed year. Sales........................................................................... $2,250,000 ...
- Q At the beginning of the year, Suqing Corporation (a calendar year taxpayer) has E&P of $15,000. The corporation generates no additional E&P during the year. On July 1, the corporation...
- Q Fulton Manufacturing Company makes a product that sells for $64 per unit. Manufacturing costs for the product amount to $24 per unit variable, and $96,000 fixed. During the current accounting...
- Q Please show work
- Q 1.Indicate whether the following benefits are taxable or non-taxable to the employee. a.Chemical dependency coverage under an employee assistance plan b.Provincial health...
- Q La empresa ABC compr mercanca a la empresa Toledo en Espaa. La empresa ABC acord hacer el pago en moneda de Espaa(Euro). Presuma que para la fecha de...
- Q When a company receives returned goods from a customer, the business process to accept the return would most likely be a(n) a. conversion process...
- Q D has three assets which make up the vast majority of Ds estate: (i) Ds house (real estate) valued at $18,000,000, with an adjusted basis of $1,000,000, (ii) an operating...
- Q where are the rest of the answer ? for chapter 1
- Q A building acquired at the beginning of the year at a cost of $116,500 has an estimated residual value of $4,500 and an estimated useful life of 10 years. Determine...
- Q Josephine is seeking to expand her rare stamp collection. Each year, rare stamps increase in price at a three percent rate. She can currently buy 15 stamps and hopes to...
- Q (Corporate income tax)Last year Sanderson, Inc. had sales of $3.1 million. The firm's cost of goods sold came to $2.0 million, its operating expenses excluding depreciation of $104,000 were $394,000,...
- Q Direct Materials $90,000 Direct Labor 120,000 Variable factory overhead 60,000 Fixed factory overhead 150,000 Fixed marketing/admin expense 180,000 The factory produced 80,000 units during the period, and 70,000...
- Q Hamrick Industries makes and sells two products. The demand for both products is unlimited. Product A has a contribution margin of $7.70 per unit. Product B has a contribution margin...
- Q Generally Accepted Accounting Practices and tax regulations differ,pre-tax financial income and taxable income frequently differ and the amount that a company reports as a tax expense will differ from the...
- Q please answer anything you know Dad .Dad, I learned today that if I study hard then I will be able to end racism.Dad, today I learned about (AB) ...
- Q If a company chooses the fair value option to account for long-term debt, a decrease in the fair value of the liability due to a decline in the company's creditworthiness...
- Q in part b which entries are debits and credits
- Q A dividend to be paid with non-cash assets is posted at the following amount: a. The fair value of the assets on the dividend declaration date b. The book value...
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