Accounting question and answers for July 08, 2023
- Q auditors commonly set inherent risks as high for valuation of accounts recievable. which of the following controls would help reduce the likelihood of uncollectable accounts?
- Q ASAP - The maintenance department of an organization has been budgeted $500,000 for the current year's maintenance work. At the end of the fiscal year, the general ledger shows that...
- Q In October, Pine Company reports 18,800 actual direct labor hours, and it incurs $123,000 of manufacturing overhead costs. Standard hours allowed for the work done is 24,600 hours. The predetermined...
- Q PLEASE HELP Decker Industries reported the following monthly data: What is the company's contribution margin for this month if 56,000 units were sold
- Q Lockbox Problem A major credit card company (call it MasterDebt) receives checks from all different regions in the country on a daily basis. Once these checks are mailed, the time...
- Q a. Prepare a vertical analysis of the two income statements. Round percentages to one decimal nlare
- Q A product sells for $120, variable costs are $85, and fixed costs are $56,000. If the selling price can be increased by 18% with a similar increase in variable costs,...
- Q Explain how an auditor tests the completeness of the accruals in the financial statement. [10 marks] The auditor should adhere to the following audit procedures to test the...
- Q Valentino Farms started business on August 1, 20X1. During August, Valentino Farms reported sales of $52,000 and sales returns and allowances of $900. Valentino Farms must charge 7% sales tax...
- Q Biossom ine sells a high-speed retrieval system for information. It provides the following information for the vear. Overhead is applied on the basis of machine hours....
- Q Discuss the advantages and limitations of the procurement process and its effect on small business development in south Africa. in your response, focus in particular on these areas of...
- Q Required information [The following information applies to the questions displayed below.] AirPro Corporation reports the following for this period. Compute the volume variance and identify it as favorable...
- Q Please Help with all Requiered 9 Robertson Resorts is considering whether to expand its Pagosa Springs Lodge. The expansion will create 24...
- Q Consider the following information relating to the construction and subsequent use of a new corporate headquarters building. Construction costs $950,000 Overhead incurred during construction $45,000 Excavation costs $79,000 Removal of...
- Q Need Adjustments Done ...
- Q Melodee Lane Lingerie Co. was a tenant in a building that was protected against fire by a sprinkler and alarm system maintained by the ADT security company. Because of the...
- Q Cassel Accounting began operations as a corporation on 1/1/19. All transactions through 11/30/20 have been recorded and the account balances can be found in the November Trial Balance. During...
- Q Given taxable income 63,250 what is my tax bracket and how much do I pay in taxes? Assuming all else equal. Deductions are embedded.
- Q Required information [The following information applies to the questions displayed below. Leach Inc. experienced the following events...
- Q ABD showed a 30 balance in its ADA on 12/31/2016. write- offs during 2016 were 21. bad debt expense for 2016 was 25. what was the 1/1 balance in the...
- Q The following income statement is provided for Vargas, Inc. What is this company's magnitude of operating leverage? Muttiple Choice 3.07 0.33 300 1.67
- Q Arthur Wesson, an unmarried individual who is age 68, has a taxable income of $160,000 in 2013. He has AMT positive adjustments of $40,000 and tax preferences of $35,000. ...
- Q For question 1, calculate the (a) margin currently earned from manufacturing and selling the product and (b) expected margin from outsourcing the product, reducing the selling price, and increasing...
- Q Birgit Margot, the CFO of Baby Beemers Ltd, has decided to implement Baby Beemers new business strategy using the Balanced Scorecard. Baby Beemers is the leading retailer of baby accessories,...
- Q Use the following information about Lund Corporation for the month of August to prepare a statement of cash flows for August under the indirect method. Accounts payable increase $14,400 Accounts...
- Q A certain asset has an initial value of $180,000 and depreciation rate of 30%. Determine its value in year 5 using percentage depreciation.
- Q Create a pie chart showing the breakdown of occupations for each year in the Science and Engineering Jobs Excel file, and contrast these with simple column charts. please be...
- Q When company's debt-to-equity ratio is greater than 100% than its current ratio must be greater than 1.0 to 1. TRUE OR FALSE
- Q what is moral hazard? Explain how misplaced loyality, slippery slope, and normative standards can lead to moral hazard.
- Q Statement of Cash Flows In addition to the information provided from the Trial Balance tab and the information you have the prepared in the Statement of Financial Position and Statement...
- Q Why is the composition of the Fed's balance sheet a potentially important aspect of monetary policy during an economic crisis
- Q Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and increase by 3.5% each year through year five. What is the equivalent annual...
- Q On May 9, 2021, Calvin acquired 650 shares of stock in Hobbes Corporation, a new startup company, for $155,100. Calvin acquired the stock directly from Hobbes, and it is classified...
- Q Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,992,000 on March 1, $1,272,000 on June 1, and $3,029,260 on...
- Q Liberation Sans 12 AA H Wrap led Ten Paste B I W A Merge & Center...
- Q Casey is a general partner in Country Sun Nutrition, a specialty store that sells nutritional supplements. He actively participates in the operations of the business. Under the terms of the...
- Q FASB Codification chap 6 Access the glossary ("Master Glossary") to answer the following: Briefly describe the term "discount rate adjustment technique." According to the Master Glossary, a .value technique that...
- Q Jetson Company had the following information on their Statement of Financial Position for Dec 2024. Debit Credit Cash $25,000 Accounts receivable 250,000 Allowance for expected credit losses 10,000 Accounts payable...
- Q Q3) Problem 20-48 on page 854 (30 marks) Part 1 -Part 2 PLEASE NOTE: The check figure in the left margin for Problem 20-48 on page 854 should be $730,000,...
- Q According to revenue recognition principles revenue can be recognised when cash is received! Is this statement true ? Explain your answer Which statement measure performance of an organisation? How does...
- Q An investor purchased 457 shares of common stock, $23 par, for $16,452. Subsequently, 114 shares were sold for $31 per share. What is the amount of gain or loss on...
- Q In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different...
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- Q Class, the Riley Biscuit Co. has noticed that its current ratio is decreasing steadily overtime but its quick ratio is increasing? What would cause this?
- Q Requlred: Explain how each of the following events or series of events and the related adjustments will affect the amount of net income and the smount of cash...
- Q Fow much whudd Gpecabing incorme docrease if Microhard were to eliminate the tathets? DO WGT WWLUDE PARAENTHESES OR NEGATIE SIGNS IN YOUR
- Q 4. Prepare a table that compares the market outcomes of perfect competition, monopoly, monopolistic competition and oligopoly
- Q A company failed to record unrealized gains of $23 million on its trading security investments. Its tax rate is 35%. As a result of this error, total shareholders' equity would...
- Q Tami Tyler opened Tamis Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on...
- Q which of the following is not a correct step in the journalizing process?
- Q Compute the margin of safety and the company margin of safety as a percentage Selling price. $25.00 per unit Variable expense. $13.00 per unit Fixed expenses. $9.840 per...
- Q B Corp issued 6 % bonds dated January 1 with a face amount of $20,000,000 on January 1, 2021. The bonds mature on December 31, 2025. For bonds of similar...
- Q Hepburn Company bought a copyright for $75,900 on January 1, 2013, at which time the copyright had an estimated useful life of 11 years. On January 5, 2016, the company...
- Q First question You would like to evaluate performance put int of Colgate-Palmolive. You are missing following ratios, because you need them o your...
- Q Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $...
- Q Sarasota Corporation purchased a truck by issuing an $92,800, 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 11%....
- Q 019 Feb. 27 Purchased 3,400 shares of HCA at $34 per share plus a $420 commission. Mar. 3 Sold 1,600 shares of Hunt at $25 per share less a $250...
- Q Describe the concept of stare decisis and its application to the common law. Your response should reference an understanding about the common law
- Q Guinevere Company has the following data extracted from its Accounts Receivable records at June 30,2011 Customer Balance Current 31-75 days Over 75 days...
- Q Prepare balance sheet TE journals AN 7.000 2.000 450 080 $ WP Wages Cast Acte 096 000.00 00.000 1.300 w 1300 2.200 3200 Arousa ry...
- Q Jean ALT Jean ALT
- Q * Problem 9-44 Comprehensive Master Budget; Borrowing; Acquisition of Automated Material- We really need to pet this new matcrial-handling equipmeat...
- Q Given taxable income 63,250 what is my tax bracket and how much do I pay in taxes? Assuming all else equal. Deductions are embedded.
- Q Assume that the population for Age is normally distributed, even if the sample is not. Use the ATUS sample variable Age. What is the probability that any person in...
- Q 71) Use the information in the table and assume that a worker is expected to devote half-time (four hours per day) to this project with work taking place on a...
- Q how do you estimate the operating income using horizon value? please give example
- Q On December 28, Kerr Manufacturing Co. purchased goods costing $50,000. The terms were FOB destination. Some of the costs incurred in connection with the sale and delivery of the goods...
- Q Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The molding department fills the molds with hot liquid plastic that is...
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- Q Which of these effects of a single transaction on the accounting equation is not possible? a. Increase in assets at the same time as an equal increase in equity. b....
- Q The inventory observation substantive procedure is a vital procedure. Identify at least 5 procedures the auditor must do at the inventory observation.
- Q Examination of Archer corporations balance sheet at both the beginning and end of the period revealed the amounts that the accounts below changed during the period. Accounts Receivable Increased...
- Q On October 1, 2023, Eastern Timber Inc. has available for issue $780,000 bonds due in four years. Interest at the rate of 6.50% is to be paid quarterly. Calculate the...
- Q How can a company reverse a trend of higher current liabilities over current assets?
- Q 1.K Ltd. paid an employee a tax-free travel allowance of $3,500 based on 6,000 kilometres of out-of-town driving. What amount can K deduct for tax purposes?Answer3240 2.In the current year...
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