Accounting question and answers for July 04, 2023
- Q Howa conpany can reduce tax from accepting a negative NPV investment400wordsWhyreduce tax is one of reason an organization accept negative NPVinvestment ?
- Q Submission through EduOasis - Due 26 March 2020 5pm.You represent a restaurant, The Sultan’s Table, which has beendoing business with a supplier, AAA, for many years, givingreliable service and guaranteeing...
- Q Presents highly accurate and appropriately detailed advice onhow to account for Step-up Bond at issuance, interest dates andmaturity based on Australian accounting standards
- Q Culver’s Custom Clothing (CCC) sells branded clothing to resortsand corporations. The company’s comparative financial statementsare presented below.CULVER’SCUSTOM CLOTHINGSTATEMENT OF FINANCIAL POSITIONDecember 31CurrentAssets20202019 Cash139,00075,600 Accounts receivable28,00025,700 Inventory74,00045,900 Prepaid expenses9,9002,900 Total current assets250,900150,100Property andequipment Property and equipment110,000146,000 Less: Accumulated...
- Q Problem 13-28 Net Present Value Analysis [LO13-2]Bilboa Freightlines, S.A., of Panama, has a small truck that ituses for intracity deliveries. The truck is worn out and must beeither overhauled or...
- Q CASE STUDY FINANCIALVIABILITY INDICATORSKulula Ltd has been incorporated asan investment advisory company. The company sources for consultingservices in investment appraisal and company valuation. You haverecently joined the company as an...
- Q ABC Co. lends DEF Co. $30,000 with 6% on October 1, 2019. Thenote is due on September 30, 2020. Both companies use December 31as their fiscal year-end.Please make all journal...
- Q The Tax Formula for Individuals (LO 1.3) Jason and Mary aremarried taxpayers in 2017. They are both under age 65 and in goodhealth. For 2017 they have a total of...
- Q 3)Explain industry and organisation security practices andrationale4)Describe an internal administration system such as accountingsystem and database.
- Q QUESTION 1 (IFAC CODE OF CONDUCT) (30)Registered auditors are frequently tasked with situations withethical implications in the course of offering their services. TheCode of Professional Conduct provides a conceptual framework...
- Q QUESTION 1 While you were involved in the audit of your client White Cross(Pty) Ltd, the following policies, procedures and conditionsexist:1. There is strong segregation of duties in the inventory...
- Q Irene Watts and John Lyon are forming a partnership to whichWatts will devote one-half time and Lyon will devote full time.They have discussed the following alternative plans for sharingincome and...
- Q Irene Watts and John Lyon are forming a partnership to whichWatts will devote one-half time and Lyon will devote full time.They have discussed the following alternative plans for sharingincome and...
- Q 1. Explain the differences between management andleadership.4. Discuss the strategic objective of a SWOT analysis?Business enterprise Please provide 100 word for each question.
- Q The consolidated income statement for POP Industries and its75% Subsidiary, SAS at the end of 2019 was as follows: Consolidatedsales $900,000 , Consolidated cost of Sales $500,000 Operatingexpenses $200,000, Noncontrolling...
- Q The Dry Wall Division reports the following operating data forthe past two years:Year 1Year 2Margin15%?Turnover2.63Average operating assets?$150,500Net operating income$40,500?Stockholders’ equity$80,500$125,500Sales??The return on investment at the Dry Wall Division was exactly...
- Q A customer of J and J purchased $2 million dollars ofmerchandise on account. J & J Products gives terms of 2%, 10days, net 30. J& J Products believes that the...
- Q Listed below are the transactions of Leon Kawabata, D.D.S., forthe month of September.Sept. 1Kawabata begins practice as a dentist and invests $21,130cash.2Purchases dental equipment on account from Green Jacket Co....
- Q Below are the transactions and adjustments that occurredduring the first year of operations at Kissick CoIssued 192,000 shares of $5-par-value common stock for$960,000 in cash.Borrowed $530,000 from Oglesby National Bank...
- Q Telma Ltd. is a public company incorporated in Alberta and traded on the Toronto Stock Exchange. In December 20X6, Telma management decided that cost exceeded NRV for a significant portion...
- Q “Before there was Paris Hilton, there was Consuelo VanderbiltBalsan – a Gilded Age heiress and socialite, renowned for herbeauty and wealth. Ms. Balsan’s onetime Hamptons home was slated tohit the...
- Q Why is capital budgeting important? Why is the stage of thebusiness cycle an important component in a capital expenditurepolicy?
- Q Instructions :• It is recommended that you use the IRAC problem solvingmethod.• You may use headings and subheadings to structure youranswer.• Your answer must include legal references (relevant casesand/or sections...
- Q September 4: You purchase a vehicle for yourbusiness for $55,000 and finance the vehicle at a rate of 5% for 6years. First monthly payment is due on October 4. You...
- Q Listed below are transactions of Zachary McDaniel, DDS sinceopening his practice in September 2018.Sept. 1McDaniel begins a practice as a dentist and invests $40,000cashSept. 2Purchases dental equipment on account from...
- Q Time Remaining 1 hour 5 minutes 30 seconds01:05:30Item 14Item 14Time Remaining 1 hour 5 minutes 30 seconds01:05:30The Arkansas Company makes and sells a product called Product K.Each unit of Product...
- Q If unethical or illegal behavior occurs within a businessenterprise, how can employees bring about change when initialreports are ignored? What actions can senior managers take torepair the damaged reputations of...
- Q I don't know how to complete an accounting cycle for thesetransactionsDecember 1st 20XX Trial Balance Debit CreditCash 2,500AccountsReceivable 3,000 NotesReceivable 1,000Supplies 800Land 22,600Machinery 22,000AccumulatedDepreciation-Machine 2,400AccountsPayable 5,000Unearned ServiceRevenue 1,200CommonStock 20,000RetainedEarnings 23,300 51,900 51,9001. The following transactions occurredduring December 20XXDecember 5. Paid creditors $1,000December 9. Billed customer for...
- Q During 20X1 Beth earned a salary of $150,000. In 20X1,she invested $40,000 for a 20% interest in a Grady MemorialHospital, a limited partnership. Beth does not material participatein this activity....
- Q Question 1Why is testing important?Question 2What are the 4 different types of testing activities? What isthe purpose of each type?Question 3What is the Waterfall methodology?
- Q As the management accountant for Pleasanton Raft Company, Inc.,you have been asked to attend a planning session for the nextseason. The owner, Mara Mason specifically wants to be able topredict...
- Q Stelling Corporation had the following transactions during 2020.Identify whether each transaction should be considered a cash flowfrom operating, investing, or financing activities, or whether thetransaction is a significant non-cash activity.1.Issued...
- Q Do you think it makes sense to separate product costs fromperiod costs for management purposes? What about for externalreporting purposes? Why or why not? Should the costs be treateddifferently for...
- Q Visit three web services of fast moving consumer goods (FCMG)companies (for example Unilever and P&G). Is there evidence ofa segmented approach or are they mass marketing? Rank the threecompanies in...
- Q Halifax Manufacturing allows its customers to return merchandisefor any reason up to 90 days after delivery and receive a credit totheir accounts. All of Halifax’s sales are for credit (no...
- Q What is Triple bottom line principles? How to apply triplebottom line principles in work planning(in Australian Accountingenvironment) (Please type your answer)
- Q Provided is the following data for Marina Bay, a boat repairshop.RepairsMaterial Loading ChargesMechanics’ wages and benefits$103,500Parts manager’s salary and benefits$11,500Office employee’s salary and benefits20,7002,300Other overhead (supplies, depreciation, property taxes,advertising, utilities)26,80014,400Total...
- Q Marios Pizza Palace Practice Set Part 4The adjusted trial balance for Mario’s Pizza Palace at 30 Juneis presented below:Mario's Pizza PalaceAdjusted trial balanceas at 30 June 20XXAccountnumberAccountDebitCredit100Cash42,350110Cash float450120Accounts receivable679130Inventory -...
- Q Curwen Inc. reportednet cash flow from operating activities of $180,900 on itsstatement of cash flows for a recent year ended December 31. Thefollowing information was reported in the Cash flows...
- Q Assume that the following data relative to Kane Company for 2018is available:Net Income$2,890,000Transactions in Common SharesChangeCumulativeJan. 1, 2018, Beginning number740,000Mar. 1, 2018, Purchase of treasury shares(72,000)668,000June 1, 2018, Stock split...
- Q A cereal company issues coupons that can be exchanged for boxesof cereal. It issues two million coupons that promise the retailerwho redeems the coupons $1 per coupon. The probability ofredemption...
- Q Think of a chain of upscale spas: List 5 operationaland financial questions that basic financial statements cannotanswer.(I'm pretty sure I am over thinking this)
- Q Adam runs his own marketing business in Australia. During theyear he incurred the following expenses: a) salary costs of$500,000. b) salary costs of $9,000 for his son who did somegraphic...
- Q The following information applies to the questions displayedbelow.] Church Company completes these transactions and eventsduring March of the current year (terms for all its credit salesare 1/10, n/30). Mar. 1...
- Q Companies usually, in pursuit of refining their costing system,adopt Activity-Based Costing systems with an aim to arrive ataccurate cost figures. Describe, in your ownwords, the prominent factors/reasons (anyfour) that contribute...
- Q Sue, Liean and Ray have been good friends since their collegeyears. They were partners in a public accounting firm, Sue, Liean& Co (SLC) since 2005. Hakim Enterprise Sdn Bhd (HESB)...
- Q Instructions A local nightclub has just changed ownership, andthe new owner, Bob, has contracted T&G Consulting to helpdecide the direction the club will take. Based on the local musicscene, it...
- Q As you know, it is important to record your transactions timelyso when it comes to the end of a quarter, you can properly closeout your books. Identify and discuss the...
- Q Gitano Products operates a job-order costing system and appliesoverhead cost to jobs on the basis of direct materials used inproduction (not on the basis of raw materialspurchased). Its predetermined overhead...
- Q PLEASE SHOW ALL YOUR WORK!Dillard Company starts the year with $10,000 in its cashaccount, $10,000 in its equipment account, $2,000 in accumulateddepreciation and $18,000 in its retained earnings account. Duringthe...
- Q PREPARE FINAL ANALYSISInvestment Valuation Ratios18-Mar17-MarFace Value11Dividend Per Share5047Operating Profit Per Share (Rs)145.25137.48Net Operating Profit Per Share (Rs)508.58470.42Free Reserves Per Share (Rs)----Bonus in Equity Capital79.1379.13Profitability RatiosOperating Profit Margin(%)28.5629.22Profit Before Interest And...
- Q 1. List tax -deductible expenditures and the deductibleamount2. Below the list of deductible expenses , re-configure yourtaxes and net income : Subtract your deductible expenses from yourgross income to determine...
- Q Question 2Jamie is a real estate agent working for ‘Houses R Us’ realestate. As part of his employment contract, Jamie receives a basesalary of $50,000 per annum plus 10% of...
- Q Describe Participative Budgeting and identify six benefits ofparticipative budgeting? ( 500 words limit )
- Q This week's assignment is to do a thorough financial statementreview of the publicly-traded company Facebook. To complete theanalysis, you will need to run the five most applicable liquidityratios, the two...
- Q 1.Presents highly accurate and appropriately detailed advice onhow to account for Step-up Bond at issuance, interest dates andmaturity based on Australian accounting standards.2.Presents highly accurate and appropriately detailed advice onhow...
- Q Antonio Melton, the chief executive officer of SolomonCorporation, has assembled his top advisers to evaluate aninvestment opportunity. The advisers expect the company to pay$409,000 cash at the beginning of the...
- Q 12) A manufacturing firm utilizes a manual machine to make aproduct. Theproduction rate is 125 parts/hr. This current methoduses three operators at a labor wagerate of $18/hr. The manualmachine’s capital...
- Q .Wille Co. trades a used truck for a used car. The trade hasbeen decided to lack commercial substance. The used truck had anoriginal cost of $15,000 and accumulated depreciation of...
- Q Which of the following financial ratios would be most useful toan auditor seeking information on a company’s ability to covercurrent obligations?a. Earnings per shareb. Quick ratioc. Gross profit margind. Sales...
- Q John, is a designer, who came to Australia in November 2017 onan assignment creating colorful designs based on the vibrant colorsof the Great Barrier Reef. The project is expected to...
- Q Shally is a very keen photographer and is considering setting upher own business. It has been a hobby of hers for many years butshe now wants to take it more...
- Q Read the following Judgement Case prompt:Assume that Pfizer, a large research-based pharmaceuticalcompany, enters into a contract with a start-up biotechnologycompany called HealthPro and promises to: Grant HealthPro theexclusive rights to...
- Q A small garage business employs the following activities:Supplying and mounting of draw-hooks for caravans.Supplying and mounting of fog-lamps.Supplying and mounting of sunshine roofs.Repairing of bodywork damage.Besides the garage proprietor, there...
- Q Company A is a construction company and is a new audit client ofyour firm. It has never been audited but a different accountingfirm performed a review engagement for y/e 31...
- Q Your client, Nora, has a 300-square-foot room in her2,000-square-foot home that she uses as an office for her bakerybusiness for administrative functions such as paying bills andordering supplies. She has...
- Q ACCT 500: Signature Assignment: Finance Assessment –pick a random companyPart A: Financial Statement Analysis Select the most recentfinancial set of financial statements for the company of yourchoice. Be sure to...
- Q Five Measures of Solvency or ProfitabilityThe balance sheet for Garcon Inc. at the end of the currentfiscal year indicated the following:Bonds payable, 8%$1,200,000Preferred $10 stock, $100 par104,000Common stock, $11 par70,928.00Income...
- Q Which of the following operating activities have a positive cashflow impact for a company?a.Increase in accounts receivableb.Decrease in accounts receivablec.Increase in inventoriesd.Decrease in accounts payable
- Q Como la suposicion del periodo de tiempo y los principios dereconocimiento de ingresos y reconocimiento de gastos brindanorientacion a los contadores en la preparacion de un eatado dereaultados
- Q Measures of liquidity, Solvency, and ProfitabilityThe comparative financial statements of Marshall Inc. are asfollows. The market price of Marshall common stock was $ 66 onDecember 31, 20Y2.Marshall Inc.Comparative Retained EarningsStatementFor...
- Q Alsup Consulting sometimes performs services for which itreceives payment at the conclusion of the engagement, up to sixmonths after services commence. Alsup recognizes service revenuefor financial reporting purposes when the...
- Q Albuquerque, Inc., acquired 27,000 shares of Marmon Companyseveral years ago for $900,000. At the acquisition date, Marmonreported a book value of $980,000, and Albuquerque assessed thefair value of the noncontrolling...
- Q Jorge and Anita, married taxpayers, earn $404,500 in taxableincome and $50,000 in interest from an investment in City of Heflinbonds. Using the U.S. tax rate schedule for married filing jointly,how...
- Q Campbell, a single taxpayer, earns $393,000 in taxable incomeand $12,000 in interest from an investment in State of New Yorkbonds. (Use the U.S. tax rate schedule.) (Do not round intermediatecalculations....
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!