Accounting question and answers for July 02, 2023
- Q The amount of the average investment for a proposed investment of $122,000 in a fixed asset with a useful life of 4 years, straight-line depreciation, no residual value, and an...
- Q If an account becomes uncollectible in 2011, arising from a sale made in 2010, in what year is it expensed? please explain.
- Q A list of accounts and their balances of ONeills Psychological Services, at its year end July 31, 2021, is presented below: Supplies ...
- Q a. Based on the information contained in these financial statements, compute free cash flow for the company for the most recent year provided. b. What conclusions concerning the management...
- Q Tim Mattke Company began operations in 2012 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2014, in accordance with other companies in its industry, Mattke changed its inventory...
- Q Required Information [The following information applies to the questions displayed below.] The following data pertain to the Oneida Restaurant Supply Company for the year Just ended. Budgeted sales...
- Q M Company manufactures a cat food product called Special Export. M Company currently has 10,000 bags of Special Export on hand. The variable production costs per bag are...
- Q At May 1, 2020, Marigold Company had beginning inventory consisting of 220 units with...
- Q A weakness of flexible budgeting is that it tends to be more time consuming because it requires the preparation of two budgets instead of just one. True False
- Q Justine Co. produced 5,500 outdoor chairs for Job Order No. 610. Total material cost was P51,700. Each chair required 2.2 hours of direct labor at P8.90 / hour. A total...
- Q The following information is available pertaining to the Production Division of Dyson Enterprises: Assembly Dept. Finishing Dept. Total Overhead costs $7,500 $22,500 $30,000 Direct labor hours 7,500 2,500 10,000 Machine...
- Q List some resons for Fraudulent Financial Statements
- Q Monster Planes provides sight-seeing tours in vintage biplanes. The company is owned by Dee Day. The closing balances at the end of September 2018 and the chart of...
- Q Oakwood Company produces maple bookcases to customer order. The following information is available for the production of a recent order of the bookcases. Process time 6.0 days Inspection time 0.8...
- Q Which of the following substantive tests would the auditor use to verify the completeness assertion? Select one: a. Comparing a sales invoices to shipping documents. b. Observing the client's distribution...
- Q Required information [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its...
- Q Smooth Incorporated manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2021 and 2022 was 4,800 units. There was no beginning inventory...
- Q solve question 1&2&3 please. as it is able, repay the loan plus accumulated interest...
- Q Q.3 Prepare journal entries to record the following selected transactions that occurred during the company's operations: (4 marks) On January 30, 2017, Candlestick, Inc. sells $100,000, five-year, 10 %...
- Q The balance sheet account balances of the Damitio Inn at the end of 20X3 are as follows: Required: Prepare the balance sheet in accordance with the USALI
- Q explain the basis for each of the criteria used to classify leases
- Q Florek Inc. produces and sells a single product. The company has provided its contribution format income statement for March. Sales (7,100 units) $ 284,000 Variable expenses 184,600 Contribution margin 99,400...
- Q Which of the following should you consider when evaluating the general management of a business? A) whether the owner has a college degreee B) the organizational structure of the business...
- Q Manor Manufacturing has recently tried to improve its analysis for its manufacturing process. Units started into production equaled 18,000 and ending work in process equaled 1,200 units. Mayer had no...
- Q 5- 2 Colombo Soft-Serve Frozen Yogurt In 1994, General Mills Incorporated, a $6 billion consumer goods company, acquired Colombo Frozen Yogurt. General Mills Inc. (GMI) believed they could add Colombo...
- Q Internal Control 22. Separation of Duties in a small business is not a practical internal control solution due to the small number of employees 23. Identify two prevention...
- Q On January 1, 2020, Victory Co. Acquired 60% of the shares of sauce limited by issuing shares valued at $1.5 million. On this date sauce limited building and machinery had...
- Q Worked examples of between depreciation and capital cost allowance
- Q Linda owns 30% of the stock in an S corporation. Libdas basis in the S corporation stock at December 31,2017 was $14,000. Income reported by the S corporation during 2018...
- Q It is now January 2023. CP needs to prepare its financial statements for the year ended December 31,2022. You have obtained the following information about the ...
- Q Answer the following questions based on the United States Supreme Court decision in Miranda v Arizona, 384 U.S. 436 (1966) 10. Are Miranda warnings required when requesting booking information...
- Q The following additional information describes the company's production activities for May. \table[[Direct materials,$155,000
- Q Seth Fitch owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine...
- Q Dividing Partnership Net Income Required: Steve Jack and Chelsy Bernard formed a partnership, dividing income as follows: Annual salary allowance to Jack of $116,820. Interest of 5% on each partner's...
- Q On August 1, 2009, a magazine publisher receives $24 cash for a year s subscription ending July 31, 2010. This transaction was originally recorded with a credit to Subscription Revenue....
- Q PR10-2A help me thanks
- Q explain in your own words and give a numerical example of the allocation of multiple support departments to a production department utilizing the direct, step down, and reciprocal methods. In...
- Q RayLok Incorporated has invented a secret process to improve light intensity and, as a result, manufactures a variety of products related to this process. Each product is independent...
- Q Cost-Minus Inc. is a merchandising company that is trying to decide how many units of merchandise to order each month. The companys policy is to have 20% of...
- Q A small start-up engineering firm has, taxable income that places it in the 34% federal incometax bracket and at tha 12% state incremental tax...
- Q On 7/1/19 bird company purchased equipment for $180,000 and uses the straight line method to depreciate that equipment. Bird estimated that the equipment would have a 10 year life and...
- Q 1. Sheffield industries has three activity cost pools and two products. Please answer :) Sheffield Industries has three activity...
- Q Illustrate one of the Statistical methods for the measurement of accounting harmonization in detail
- Q ($ in thousands) 2024 Beginning Balances 2024 Ending Balances PBO 2,400 2,601 Plan Assets 2,500 ...
- Q Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting dep the weighted average method
- Q The following department data are available: Total materials costs $240,000 Equivalent units of materials 60,000 ...
- Q Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials...
- Q A constructor wants to set aside enough money today in an interest-bearing account to have $200,000 three years from now for the purchase of a replacement piece of equipment. If...
- Q Explorer Supplies, Incorporated had sales of $120,000 in Year 1. Explorer warrants its products and estimates warranty expense to be 3% of sales. Which of the following journal entries would...
- Q Discuss the three trial balance with literature review and by providing example for each use of trial balance?
- Q Pipe Manufacturing Company acquired 90 percent of Spike Corporations outstanding common stock on December 31, 2017, for $2,282,850. At the date of acquisition, the fair value of the noncontrolling interest...
- Q Costs drivers can typically be based on output volume or activity. Using volume based drivers to allocate indirect cost would generally result in more indirect costs being allocated to...
- Q Exercise T4-1 Swifty WaterWorks manufactures snorkel gear. During the past month, Swifty purchased 4,200 pounds of plastic to use in its dive masks, at...
- Q Problem 3-5A question 2 in fundamental of accounting
- Q Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the company's products far exceeds its manufacturing capacity. The bottleneck (or constraint)...
- Q In accounting, which principle emphasizes recording transactions at their original cost? A) Matching principle. B) Revenue recognition principle. C) Historical cost...
- Q 5. Express delivery is a rapidly growing delivery service. Please answer :) Express Delivery is a rapidly growing delivery service. Last year, 80% of...
- Q Test please open to see everything and answer in full please ...
- Q P13-7A The following are the financial statements of Nosker Company. 90 Prepare a statement flows-indirect meth compute free cash fld (LO 2, 3) NOSKER...
- Q A family friend has asked your help in analyzing the operations of three anonymous companies operating in the same service sector industry. Supply the missing data in the table below:...
- Q Data concerning Wang Corporation's single product appear below: Selling price per unit $150.00 Variable expense per unit $49.50 Fixed expense per month $171,065...
- Q 4) Coffman Group, Inc. needed some long-term financing and arranged for a 10-year, $100,000, 7% mortgage loan on January 1, 2010. Annual payments of $14,238 will be made...
- Q Participative budgeting is time-consuming and costly. What are some recommendations to limit/solve the problem?
- Q On October 1, 2019, the City of Highland placed an order with Ajax Sand & Gravel Co. for 1,000 tons of cinders to be spread upon Highlands streets during winter...
- Q The net realizable value of accounts receivable decreases when an account receivable is written off. True or False True True False False
- Q Suppose Hopewell Corporation has the following results related to cash flows for 2019: Increase in Debt of $200,000 Dividends Paid of $700,000 Purchases of Property, Plant, & Equipment of $7,800,000...
- Q In which of the columns of a worksheet would a net loss be found? A. in the balance sheet credit column and the income statement debit column B. in the...
- Q They left out the part about the intructions . The question wants you to use the indirect method to prepare the operating activities section of the statement of cash flows...
- Q Schedule of Cash Collections of Accounts Receivable Bark & Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months...
- Q which of these is not an eligibility requirement for the premium tax credit
- Q Select an item from the 2017 Netflix balance sheet, identify it's valuation policies and explain if you think it;s the most appropriate option. Justify your answer with credible sources and...
- Q On January 1, 2017, a rich citizen of the Town of Ristoni donates a painting valued at $444,000 to be displayed to the public in a government building. Although this...
- Q orange ltd financial statements shows that the company had preferences share dividends of R80 000 and a profit after taxes of R750 000 the company had generated sales of R10000...
- Q whats the accounting issue in the following scenario? In June, the exclusive rights to a customer list were acquired for $75,000 from a competitor. The price paid for the customer...
- Q Tudor Company acquired $500,000 of Carr Corporation bonds for$487,706.69 on January 1, 2019. The bonds carry an 11% statedinterest rate, pay interest semiannually on January 1 and July 1,were issued...
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