Accounting question and answers for July 07, 2023
- Q In terms of the tax formula applicable to individual taxpayers, which, if any, of the following statements is correct
- Q Andres and Lakeisha are married and file jointly. Andres is 72 years old and in good health. Lakeisha is 62 years old and blind. What amount of standard deduction can...
- Q During 2015, Sarah had the following transactions: Sarah's AGI is
- Q Bill wants to give Maria a $550,000 gift in two years. If money is worth 6% compounded semiannually, what is Maria's gift worth today? (FV of $1, PV of $1,...
- Q los saldos de cada una de las siguientes cuentas aparecen en un balance de prueba ajustado. identifique cada uno como un activo, pasivo, ingreso o gasto 1) cuentas por cobrar...
- Q suppose the currency exchange rate between the united states and the united kingdom is $1.76/E. the continuously compounded interest rate in the U.S is 7%, while the continuously compounded british...
- Q You have $2 Million to invest in either stock, bond. Please provided a real-life example of any bond and stock on the market with the amortization table. Explain which investment...
- Q Suppose that corporations are subject to a statutory tax rate of 28 %. Also, suppose that the present value of the depreciation allowances as a fraction of the purchase price...
- Q Si el perodo de cobro promedio es de 60 das, cul es la rotacin de las cuentas por cobrar? 6,1 veces Ninguno de estos 12,2 veces 6,0 veces
- Q Shadee Corporation expects to sell 570 sun shades in May and 400 in June. Each shade sells for $143. Shadee's beginning and ending finished goods inventories for May...
- Q ! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On January 1,2021,...
- Q D purchased all of the stock in SB, Inc., in 1980 for $76,000. On December 31 of the current year, SB, Inc., made a cash distribution of $135,000 to D....
- Q Auditing Scenario. You are about to read a brief auditing scenario. To the extent possible, place yourself in the CPAs shoes. Different aspects of the scenario would vary in significance...
- Q Pleas helo answer all parts asap. thank you. (will give rating)
- Q Mia B. is a single taxpayer and owns two rental properties with an aggregate loss of $50,000. Mia B. actively participates in both rental properties. Mia's modified adjusted gross income...
- Q Bellingham Company produces a product that requires nine standard pounds per unit. The standard price is $9 per pound. If 5,000 units used 46,800 pounds, which were purchased at $8.73...
- Q Uie the gots profit meshod to etimate the cost (in s) of ending invertary
- Q anticipated tax settlement with a taxing authority. What ol lidanre is availahle in the Cndifiration in rennrtino this information
- Q viola is a general partner who owns 50% interest in Baron Enterprise vijay is a limited partner who owns 50% the partnership has 60,000 dollars in recourse liability and 35000...
- Q Must complete a form 1118 - Foreign Tax Credit Corporations, for both passive and general income categories.
- Q Johnston manufacturing company purchased 14,000 switches to make 6,000 units. the standard allows for 2 switches per unit. the company actually used 12,500 to produce the 6,000 units. johnson budgets...
- Q North Airlines Company emiti $900,000 al 8% en bonos a 10 aos el 1 de enero de 2017, a valor nominal. El inters es pagadero anualmente el 1 de enero....
- Q Why might a company refuse to accept an audit engagement of a firm? What factors would be compelling and why
- Q Writing Assignment: Marty Moser wants Moser Company to use CVP analysis to study the effects of changes in costs and volume on the company. Marty has heard that that certain...
- Q what is Business sustainability ? Why is it important today? What is the role of management in supporting sustainability and how will it affect companies as we continue through the...
- Q On January ?1, Staley Utilities Company acquired a power plantat a total cost of $23,580,000?, and paid cash. The estimated cost?(in today's? market) to dismantle the plant and restore theproperty...
- Q J Company produces copy paper. The company has established thefollowing direct materials and direct labor standards for one caseof copy paper:Paper pulp (3 lbs. @ $0.40) $ 1.20Labor (2 hrs....
- Q Question: Transaction analysis and use of the basicaccounting equationRequiredAnalyze the following transactions and show theireffects on the basic accounting equation, by preparing a templateas follows:?ASSETS?LIABILITIESS/H EQUITYDate/Ref.CashA/RInv.Equip.A/PDividends PayableLoan PayableCommon SharesRev/ExpRev/Exp/DD?a. Received...
- Q Please read the case study below on the differences betweenequity and liabilities. Decide whether the Class A common (ie.ordinary) shares may be disclosed as part of shareholders’ equity.Explain the application...
- Q At the beginning of 2019, Hardin Company had 230,000 shares of$10 par common stock outstanding. During the year, it engaged inthe following transactions related to its common stock:March1Issued 46,000 shares...
- Q a). The below calculation indicated on the both parameter ofshort run and life time profit ,option 3 is one of the mostsuitable for advertisement of the company, calculated below.CostsOpt. 1...
- Q Calculate PayrollBreakin Away Company has three employees—a consultant, acomputer programmer, and an administrator. The following payrollinformation is available for each employee:ConsultantComputer ProgrammerAdministratorRegular earnings rate$4,000 per week$60 per hour$50 per hourOvertime...
- Q Saxton Corporation purchased 30 percent of Taylor Company’svoting stock on January 1, 2016, for $4 million in cash. At thedate of acquisition, Taylor reported its total assets at $80million and...
- Q E2-10 Analyzing the Effects of Transactions in T-Accounts LO2-4Precision Builders Construction Company was incorporated by ChrisStoschek. The following activities occurred during the year:Received from three investors $58,000 cash and land...
- Q PRACTICAL QUESTION Merflow Ltd invited applications for 7 million equity shares of$2.75 each payable as follows:? $0.50 per share on application? $1.50 per share on allotment? $0.75 per share on...
- Q how are horizontal analysis and trend analysis related?
- Q As a result of the mortgage crisis, many banks reported recordlosses to their mortgage receivables and other assets based on thedecline in those assets' fair values.1. What would the effect...
- Q 11.) Melon Company has outstanding 400,000 shares of $10 parvalue ordinary shares. The company declares a 5% shares dividendwhen the fair value of the shares is $65 per share. Prepare...
- Q (A) Opperman Ltd owns all the share capital of Jewel Ltd. Duringthe year ended 30 June 2018, Opperman Ltd paid a dividend of $20000, and Jewel Ltd paid and declared...
- Q 1. What are the objectives of financial statement anaysis?Answer in 100-150 words2. Discuss the limitations of financial statementanalysis?Answer in 100-150 words
- Q You are working as a tax consultant in Mayfield, NSW. Yourclient is an investor and antique collector. You have ascertainedthat she is not carrying on a business. Your client provides...
- Q Carli'sCarli'sDomino Manufacturing Company learned that one of its cuttingmachines is obsolete. Although the company will continue to usethis machinery in the? future, management believes that animpairment? write-down is required. The...
- Q Define quantity standards and price standards as used in thestandard cost methodYou are the executive responsible for overseeing the BurberryWomen’s Sportswear and Accessories Department. Several events havetranspired with the suppliers...
- Q Robert earned $20,000 of profit from a soleproprietorship in 2018. If he also has $118400 of salary income,how much self-employment tax will he owe?A. 1820B. 1776C. 536D. $580
- Q a> assuming the Walmart had no significant permanentdifferences between book income and taxable income, did incomebefore taxes for financial reporting exceed or fall short oftaxable income for the year ending...
- Q Thank you in advance.CA 24-12, p. 1457CA24-12 ETHICS (Reporting of Subsequent Events) In June 2017,the board of directors for McElroy Enterprises Inc. authorized thesale of $10,000,000 of corporate bonds. Jennifer...
- Q The following are the transactions relating to the formationof Cardinal Mowing Services, Inc., and its first month ofoperations.The firm was organized and the initial stockholders investedcash of $420.The company borrowed...
- Q Due to erratic sales of its sole product—a high-capacity batteryfor laptop computers—PEM, Inc., has been experiencing financialdifficulty for some time. The company’s contribution format incomestatement for the most recent month...
- Q Enumerate and briefly explain the differences between the IFRSand US GAAP on the following issues:Treatment of Contingent Assets and LiabilitiesTreatment of Asset RecognitionTreatment of Revenue RecognitionTreatment of OptionsTreatment of Onerous...
- Q Carlos Sanchez opened a business called Sanchez Engineering andrecorded the following transactions in its first month ofoperations.Jun.1Carlos Sanchez, the owner, invested$134,000 cash, office equipment with a value of $13,500, and$77,000...
- Q Describe how the following items are computed: a. Grossmargin, and b.Contribution margin. Please be detailed.
- Q 1} Searching the internet for two current jobs available in theaccounting field. Two current jobs avaible in marketing field. Twocurrent jobs in hospitality or fashion field.Two curent jobs in inthe...
- Q Posa Hotels, Inc., has a sixth night free policy. Every sixthnight a guest stays at the hotel is free. Because not all guestsstay enough nights to earn a free stay,...
- Q Westerville Company reported the following results from lastyear’s operations:Sales$2,300,000Variableexpenses670,000Contribution margin1,630,000Fixedexpenses1,170,000Netoperating income$460,000Averageoperating assets$1,437,500At the beginning of this year, the company has a $287,500investment opportunity with the following cost and revenuecharacteristics:Sales$460,000Contribution margin...
- Q Question 1Fantastic Fashions has just completedits first quarter of operations. Below are transactions that havenot yet been recorded. Prepare the journal entries listedbelow. Jan 1 Pre-tax cash sales amounted to...
- Q Endless Mountain Company manufactures a single product that ispopular with outdoor recreation enthusiasts. The company sells itsproduct to retailers throughout the northeastern quadrant of theUnited States. It is in the...
- Q Cecil C. Seymour is a 64-year-old widower. He had income for2018 as follows:Pension from former employer $39,850Interest income from Alto National Bank 5,500Interest income on City of Alto bonds 4,500Dividends received...
- Q Tea Ltd is a public company whose common shares are traded inthe stock market. Tea recently issued various financial instrumentsto the public, as described below.(a) 7% convertible bonds with a...
- Q Company ehf. which produces high quality headphones has been inthe marketing campaign for the past six years. To meetever-increasing competition in this market, the CEO of Company ehf.that an ad...
- Q The new CEO of Everton Sdn Berhad, a company in the furnituresector would like to know the usefulness of key financial ratiosthat would be crucial for his management team to...
- Q Sweeten Company had no jobs in progress at the beginning ofMarch and no beginning inventories. It started only two jobs duringMarch—Job P and Job Q. Job P was completed and...
- Q Facts: Opportunity Landscaping Inc. (Opportunity) appreciatedyour assistance in preparing their 2018 Federal income tax return.As a result, they have come to you for advice on acquiring newfacilities for their manufacturing...
- Q Selected information about income statement accounts for theReed Company is presented below (the company's fiscal year ends onDecember 31):20212020Sales revenue$5,250,000$4,350,000Cost of goods sold3,030,0002,170,000Administrative expense970,000845,000Selling expense530,000472,000Interest revenue167,000157,000Interest expense234,000234,000Loss on sale of...
- Q Tottenham Berhad is a trading company. The management team isconcerned about the storage capacity to maintain stock levels. Forthe benefit of the management team, discuss about the usefulness ofEOQ model...
- Q Frank is a consultant who earns $72,000 annually. His spouse,Julie is a homemaker, and they have one child, Betty. Frank iscovered by $200,000 life insurance policy. The couple assumes anaverage...
- Q Class, describe the differences between financial and managerialaccounting. Focus your post on the different type of users and howthe information is used.For this and all other Discussion questions, post an...
- Q Explain the purpose of Just-in-time inventorysystems
- Q You have been hired as anaccountant for KTZFIG Consulting Inc. This business was createdwhen some friends decided to make use of their newly minted collegedegrees and go into business together....
- Q Superior Company provided the following data for the year endedDecember 31 (all raw materials are used in production as directmaterials): Selling expenses $ 212,000 Purchases of raw materials $261,000 Direct...
- Q Internet Case 20.4 – Using the SEC EDGARDatabase(MUST POST FIRST) Initial Post – As an employee, writean internal memo to your manager addressing thefollowing:Visit the home page of The Securities...
- Q Disposal of Fixed AssetEquipment acquired on January 6 at a cost of $236,000 has anestimated useful life of 9 years and an estimated residual value of$30,800.a. What was the annual...
- Q Many CPAs have complained that lots of CEOs and CFOs consideraudit service a "commodity". As a result, corporate executivesdon't care much about the quality of audit service, and all theywant...
- Q WASHINGTON, D.C. — Today the Consumer Financial ProtectionBureau (CFPB) fined Wells Fargo Bank, N.A. $100 million for thewidespread illegal practice of secretly opening unauthorizeddeposit and credit card accounts. Spurred by...
- Q Information Produced by the EntityExample 3 – Audit procedures to address audit risksrelated to IPE from a transaction processComplete the following table, indicating the audit procedurethat would be performed to...
- Q 25. Robert, who earns income and pays state tax on thatincome in Arizona, but resides in California, can claim a taxbenefit for that tax on the California tax return. The...
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