Accounting question and answers for July 03, 2023
- Q In 2015 Betty loaned her son, Juan, $10,000 to help him buy a car. In 2017, before he repaid $10,000, Betty told Juan that she was "tearing up" the $10,000...
- Q MC Qu. 84 LO 18-03, 18-07 Beagle Corporation has... Beagle Corporation has 20,000 shares of $10 par common stock outstanding and 12,000 shares of $100 par, 5.75% cumulative, nonparticipating preferred...
- Q Knowledge Check 01 Which of the following is not an example of an other revenue or expense item? Multiple Choice
- Q David Riley owns a five-year-old computer game business. Because of slack business, David needs to borrow $25,000. Compute the interest fee if David gets the loan for 120 days at...
- Q For a few years, Karen Williamson and her sister have operated an office services company that caters to local small businesses. Recently they got an opportunity to buy a used...
- Q Grid Iron Prep Inc. (GIPI) is a service business incorporated in January of the current year to provide personal training for athletes aspiring to play college football. The...
- Q mary kom ltd budgeted $435,000 for manufacturing overhead for the upcoming year. it forecast that 72,500 machine hours will be used in the factory and budgeted direct labour hours were...
- Q Jamar Co. vendi el edificio de su sede con una ganancia y, al mismo tiempo, volvi a arrendar el edificio. El arrendamiento se inform como un arrendamiento de capital. En...
- Q The company's adjusted trial balance as follows includes the following accounts balances: cash $15,000; Equipment, $85000; Accumulated Depreciation, $25000; Accounts payable, $10000; Owner, Capital, $59000; Owner, Withdrawls, $2000; Fees earned,...
- Q Prepare the schedule of cost of goods manufactured for Barton Company using the following information for the year ended December 31
- Q The Treasury document regulating the professional conduct of tax return preparers is the Regulation known as _________________________. The general statute of limitations regarding Federal tax returns extends for ____________________...
- Q Question 51 (1 point) Saved For Grimmett Company, the following information is available: Goodwill...
- Q Question 11 A bond that matures in four years, has a coupon rate of 10% and has a maturity value of US$ 100. The bond pays interest annually...
- Q Kelemen, Inc. provides the following information for 2017: Net income $250,000 Market price per share of common stock $70 per share Dividends paid $190,000 Common stock outstanding at Jan. 1,...
- Q Solar Company has 600,000 shares of $75 par common stock outstanding. On February 13, Solar declared a 3% stock dividend to be issued on April 30 to stockholders of record...
- Q Using the Annual Comprehensive Financial Report (ACFR) for a state or local government and your chapter readings, distinguish between the letter of transmittal and the Management's Discussion and Analysis. What...
- Q Elikem manufactured inventories at a cost of R10 000 (VAT included). the inventories were sold for R15 000 (VAT INCLUDED). if all inventory sales qualify as standard rated supplies, determine...
- Q explain the meaning of the quality of CSR reporting?
- Q Dakota Company included the following items in its financial statements for 2021, the current year (amounts in millions): (Click the icon to view the financial statement...
- Q Which of the following accounts is an asset? (Check all that apply.) Building Supplies Cash Accounts receivable Owner's capital Accounts payable
- Q Required information [The following information applies to the questions displayed...
- Q Double Declining Balance using DDB function formula
- Q 1) On June 30, Paisley Party Planners had a $35,000 balance in Accounts Receivable and a $3,252 credit balance in Allowance for Uncollectible Accounts....
- Q Recorded services provided on account for the period
- Q You have now been assigned to a tax planning case for Firm D. The companys management needs to make an investment decision on, under different scenarios. Firm D is considering...
- Q For the year just ended, Fellups, Inc., had income before income taxes of $275,000 from its normal, recurring operations. In addition, during the year, a tornado damaged one of the...
- Q Hi, please make the asnser cleaer. i can not read it if the line is hard to see or if it is untid . i have problem with...
- Q suppli 15. A company incurs employee salaries of $4,200 but does not pay them. Record the transa
- Q An 8-month insurance policy was purchased on June 1, 2018 for $987.60. What will be the month-end adjusting general journal entry to record the insurance usage on June 30, 2018
- Q Devon Gillies is a college student who is working as a laborer for a landscape company during the summer. Before the first paycheck, the owner loaned Devon $1,000 for 30...
- Q The cumulative feature of preferred stock ensures Select one: the stock will always have a value higher than the common shares shareholders have voting rights equal to or greater than...
- Q 1. Ethel is a retired 75-year-old who has K5, 000, 000 after selling her small business and paying taxes on the sale. She wants to invest this money. Ethel would...
- Q exercise 2-1 (p 87 from book Managerial Accounting 16th edition Garrison, Noreen , Brewer) Compute predetermined overhead rate
- Q Compute (a) the ordinary interest, (b) the exact interest, and (c) their difference. If required, round answers to the nearest cent. Principal, Rate, and Time: $3,650 at 8% for 75...
- Q Why may behavioral forensic techniques catch some fraud schemes that data driven techniques miss
- Q You are almost finished preparing your firm's full direct method SCF. But after completing the first two steps in the format free approach that you learned in class, there remain...
- Q 2. Is it possible to depreciate a residential rental building when it increases in value? Why
- Q I'm confused on the journals entries please help me
- Q The total amount of the note and interest due on the maturity date of a $11,400,150-day 8%, note receivable is: (Use 360 days a year.)
- Q Lusk Corporation produces and sells 15,900 units of Product X each month. The selling price of Product X is $29 per unit, and variable expenses are $23 per unit. A...
- Q B uses a perpetual inventory system. Your examination of B Company's records indicates that B Company recorded a credit sale of $10,000 on December 30, 2019, the date of shipment....
- Q Una empresa pidi prestados $66 000 que se pagarn en siete cuotas anuales iguales. El cuadro de amortizacin del pagar es el siguiente: Pago de inters principal $66,000 1...
- Q Macro Corporation has had the following returns for the past three years: -10 percent, 10 percent, and 30 percent. Use the following formulas to calculate the standard deviation of the...
- Q Chapter 7 Recording Transactions Affecting the Enterprise Fund and Business-type Activities The City of Smithville accounts for its solid waste collection and disposal activities in an enterprise fund. The balance...
- Q Tamarisk Corporation has outstanding 2,300 $1,000 bonds, each convertible into 70 shares of $10 par value common stock. The bonds are converted on December 31, 2017, when the unamortized discount...
- Q When a product is sold in a job order costing system, the costs associated with that product appear: In finished goods inventory On the income...
- Q Revision of Depreciation Equipment with a cost of $492,800 has an estimated residual value of $44,800, has an estimated useful life of 32 years, and is depreciated by the straight-line...
- Q How cabrini hospital and Bunnings warehouse in Australia can use job order costing. Describe separately how job order costing suitable for medical servise industry and retail companies,explain separatly
- Q P10-2B In recent years, Darnell Company purchased three machines. Because of heavy Compute dep turnover in the accounting department, a different accountant was in...
- Q Question 2: Banjo Co. purchases a bond they classity as HTM. The bond has an original face value of $100,000; a 8% coupon rate,...
- Q On January 1, Edison Corporation had 1,000,000 shares of $10 par value common stock outstanding. On March 31, the company declared a 20% stock dividend. Market value of the stock...
- Q 2) Assume that on January 1, 2012, Pasqual Enterprises purchased a machine for $10,000 that had an estimated useful life of five years. The accountant incorrectly expensed this machine in...
- Q Do you expect any changes in mortgage-backed security pricing if the pass-through security was not fully amortised? What is the present value of a twelve million $ pool of ten-year...
- Q Pat Miranda, the new controller of Vault Hard Drives, Inc., has just returned from a seminar on the choice of the activity level in the predetermined overhead rate. Even though...
- Q What is the differences between provisions and reserves in accounting ?
- Q Comparative Balance Sheets
- Q Cool Soil Pastures Ltd is an Australian pastoral company operating in the Riverina region of New South Wales and is looking to enhance the quality of its greenhouse gas emissions...
- Q Which of the following is not required for a liability to be recognized? a. obligation to transfer economic benefit b. executory contract c. service potential d. present obligation...
- Q El 31 de mayo, una empresa minorista paga un alquiler de $2700 por el mes de mayo. Cuando esta transaccin se registra en el diario de pagos en efectivo, ________....
- Q Chuck, a single taxpayer, earns $58,500 in taxable income and $20,800 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.) Required: How much...
- Q Question 12 In December of 2016, XL Computer's internal auditors discovered that office equipment costing $800,000 was charged to expense in 2014. The asset had an expected life...
- Q During 2022, Cloudy Day Inc. (Cloudy) reported net income of $90,000 and paid total cash dividends of $30,000. You own 2,250 of the 7,500 outstanding shares of Cloudy and exercise...
- Q Describe briefly the function of the GAO.
- Q Starship Inc.'s gross profit ratio increased from 36.5% in 2015 to 48.6% in 2016. What is the trend in this change? A. An upward trend B. A downward trend...
- Q Dermody Snow Removal's cost formula for its vehicle operating cost is $3,030 per month plus $333 per snow-day. For the month of December, the company planned for activity of 15...
- Q coverage? Multiple Choice Choice D
- Q Your sister just deposited $12,500 into an investment account. She believes that she will earn an annual return of 10.2 percent for the next 9 years. You believe that you...
- Q Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: ...
- Q The total contribution margin decreases if sales volume remains the same and A) fixed expenses increase. B) fixed expenses decrease. C) variable expense per unit increases. ...
- Q Both Jean Belanger and his wife Carole are 66 years of age. During 2020, they each received OAS payments of $7,000. As a long-term employee of a Canadian public company,...
- Q Future value calculation Without referring to the preprogrammed function on your financial calculator, use the basic formula for future value along with the given interest rate, r, and the number...
- Q Data: Standard Cost Card Inputs Standard Quantity Standard Price ...
- Q Which of the following is not true of expert witness depositions? Experts have the right to review the transcript of the deposition and make corrections They tend to occur at...
- Q Deferred taxes is a complicated issue and GAAP requires a significant amount of disclosures in the footnotes explaining the various pieces. List the required footnote disclosures under GAAP and also...
- Q patre Corp. has a defined benefit pension plan. The plan reports the following for 2023: Projected benefit obligation, January 1 Plan assets, January 1 Service cost Settlement rate Expected...
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