Accounting question and answers for July 09, 2023
- Q Please review the note disclosures provided in your focus companys annual report and identify at least three items being reported as noncurrent (long-term) liabilities. Discuss what youve learned...
- Q help fast please!!! Culver Company combines its operating expenses for budget purposes in a...
- Q Cash Budget Daybook Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If...
- Q In 1963, the Legislature in Hawaii passed the Pittsburgh Tax Plan which changed property tax rates from a single rate levied on property values to a split-rate system in which...
- Q PA11-1 Calculating Accounting Rate of Return, Payback Period, Net Present Value, Estimating Internal Rate of Return [LO 11-1, 11-2, 11-3, 11-4] Balloons By Sunset (BBS) is considering the...
- Q Aging of Receivabies; Estimating Allowance for Doubthul Accounts Wig Creations Company supplies wigs and hair care products to beauty salons...
- Q irez Company installs a computerized manufacturing machine in its factory at the beginning of the Exe at a cost of $43.500. The machine's useful...
- Q Gotham City acquires $25,000 of inventory on November 1, 20X7, having held no inventory previously. On December 31, 20X7, the end of Gotham City's fiscal year, a physical count shows...
- Q How is total federal tax provision calculated and effective tax rate calculated? Pre-Tax Net Income 1,915 1,335 425 Federal Income tax expense NOL carryforward from PY...
- Q Acomany had a tractor destroyed by The tractor original cost $5.00 with accumuwied derection of So The proceeds from the intrance company were 530.000 The comporw...
- Q s 59500 per tal Southem instruments makes calculators for business applications The budgeted sling price is $140.00 percator, the variable and budgeted fed costs...
- Q Radakovich Corporation has provided the following data from its activity-based costing system: Activity Cost Pools Total Cost Total Activity Assembly $ ...
- Q Data table The adjusted trial balance of Sally O'Sullivan Dance Studio Company follows: (Click the icon to view the adjusted trial...
- Q a. What total monthly sales revenue is required to break even if the relative sales mix is 30 percent for Product 1 and 70 percent for Product 2?...
- Q Please complete all requirements for a thumbs up thankyou! Wheeling Company is a merchandiser that...
- Q please answer within an hour or very fast, will upvote and give nice comment. Please help thank you Donald, Anne and Todd have the following capital balances; P40,000, P50,000...
- Q 44. Prepare the journal entry for (a) materials and (b) labor, based on the following: Raw materials issued: $850 ...
- Q References 1. Wrote off an uncollectible account for $1,500. 2. Provided $105,000 of services on account. 3. Provided $49,000 of services and collected cash. 4. Collected $98,000 cash from...
- Q n has an activity-based costing system with three activity cost pools-Processing, Supervising, and Deemer Corporatio Other. In the...
- Q 24 Manny Sea Tours sales budget for the first quarter follows: January $125,000 February 300,000 March 290,000 all sales are on account (credit) with 50% collected...
- Q Allocate Costs from Each Support Dept to All the Operating Dept base on the following information There are 8 problems using the same set of information....
- Q JART manufactures and sells underwater markers. Its contribution margin income statement follows. Contribution Margin Income Statement For Year Ended December 31 Per Unit Annual...
- Q 1. Required information [The following information applies to the questions displayed below.] Aruna, a sole proprietor, wants to sell two assets that she no longer needs for...
- Q Assume the following sales data for a company: Current year$832,402 Preceding year608,082 What is the percentage increase in sales from the preceding year to the current year? a.136.89% b.36.89% c.73.05%...
- Q Which of the following is needed to prepare a sales budget? the sales forecast number of units of finished goods in inventory the production capacity of the organization estimated cost...
- Q Toronto Manufacturing Ltd. has the following cost and productiondata for the month of November.Beginning WIP 16,400 unitsStarted in production 103,400Completed production 90,600Ending WIP 29,200The ending inventory was 40% complete for...
- Q Below are the statements of comprehensive income of Mycro, itssubsidiary Macro andassociates Tycro at 31 December 2017. Mycro, Rick and Brads arepublic limited companies. Mycro MacroTycro$’000$’000$’000Revenue50015070Cost of Sales(270)(80)(30)Gross Profit 2307040Other Expenses(150)(20)(15)Finance...
- Q Chapter 3 P1:Stephen Company is evaluating a capital investment proposal fornew office equipment for the current year. The initial investmentwould require the company to spend $50,000. The equipment would bedepreciated...
- Q This chapter is about inventory costing and capacity analysis.Specifically, it discusses alternative inventory costing methods(variable, absorption and throughput), alternative income statementformat presentations (variable and absorption costing operatingincome) and alternative denominator-level...
- Q The Regal Cycle Company manufactures three types of bicycles—adirt bike, a mountain bike, and a racing bike. Data on sales andexpenses for the past quarter follow:TotalDirtBikesMountain BikesRacingBikesSales$921,000$266,000$403,000$252,000Variable manufacturing and selling...
- Q The following selected accounts appear in the ledger of ParksConstruction Inc. at the beginning of the current fiscal year:Preferred 2% Stock, $75 par(100,000 shares authorized, 80,000 shares issued)$6,000,000Paid-In Capital in...
- Q Leo’s employer, NY Presbyterian Hospital, provides thefollowing benefits:• Life insurance equal to one times an employee’s salary or$50,000 whichever is higher.• Family health and accident insurance that costs the hospital$1500...
- Q On January 1, the first day of its fiscal year, Chin Companyissued $10,000,000 of five-year, 7% bonds to finance its operationsof producing and selling home improvement products. Interest ispayable semiannually....
- Q 2) Allenton Company is a manufacturing firm that uses job-ordercosting. At the beginning of the year, the company's inventorybalances were as follows:Raw materials: $26,000Work in process $47,000Finished goods $133,000The company...
- Q This project will be submittedin 3 parts. The submission dates and required parts to be completedfor each submission are: Submission 1 - due MondaySeptember 10 before 5pm - You must submit...
- Q Carla Vista Computer Corporation had the following openingaccount balances at the end of April: Cash $ 4,700; AccountsReceivable $6,400; Accounts Payable $ 1,900; Common Shares $ 4,800;and Retained Earnings $...
- Q Cane Company manufactures two products called Alpha and Betathat sell for $140 and $100, respectively. Each product uses onlyone type of raw material that costs $8 per pound. The company...
- Q . The Adjusting Company, which opened business on June 1, 2014,have given you a portion of their first adjusted trial balance as of June 30, 2014.Adjusting CompanyUnadjusted Trial BalanceJune 30, 2014 Debit...
- Q Please answer all parts for UpvoteThe local Ford dealer is concerned about having the right amountof parts in their service department. One SKU is very expensive,costing the dealer $475. In...
- Q Conduct a web search for some examples ofcompanies/organisations where internal controls have Failed tooperate effectively. You can also look at some of the corporatecollapses including failures of Any banking institutions....
- Q On January 1, 2018, Essence Communications issued $610,000 ofits 10-year, 6% bonds for $457,961. The bonds were priced to yield10%. Interest is payable semiannually on June 30 and December 31.Essence...
- Q Please show steps for the following questions:1) The East Company manufactures several different products.Unit costs associated with Product ORD105 are as? follows:Directmaterials $54$ 54$54Direct manufacturinglabor 888Variable manufacturingoverhead 111111Fixed manufacturingoverhead 252525Sales commissions? (2% of?sales) 555Administrative salaries 12 1212Total 115$...
- Q 1) Explain the importance of budgeting as a managerial tool ingovernment organizations.2) Explain the main public expenditures and the rules guidingthese disbursements.
- Q The Village of Green Bay received a gift of $3,000,000 from alocal resident on April 1, 2017 and signed an agreement that thefunds would be invested permanently and that the...
- Q 15 a) If a companyfails to make an adjusting entry to record supplies expense,thena. owner's equity will beunderstated.b. expense will beunderstated.c. assets will be understated.d. net income will beunderstated.b. On...
- Q Mr Zoo is planning to set up a mini Zoo in Howick.The following relates to different pricing plans of visiting thezoo and costs of running the zoo.Pricing Plan 1 -...
- Q AirQual Test Corporation provides on-site air quality testingservices. The company has provided the following cost formulas andactual results for the month of February:Fixed Componentper MonthVariableComponent per JobActual Totalfor FebruaryRevenue$278$36,170Technician wages$8,500$8,350Mobile...
- Q On January 2, 2017, Dwyer Corporation granted 10,000nonqualified stock options each to four of its key executives(40,000 options in total). Under the terms of the option plan, uponexercise, each executive...
- Q How do accounting policies and practices affect financialaccounting information used for "external" decision makingpurposes?What governing and oversight bodies exist to help ensure timelyand accurate reporting of financial information by publicly...
- Q The following transactions occurred during March 2018 for theWainwright Corporation. The company owns and operates a wholesalewarehouse. Issued 31,000 shares of common stock in exchange for$310,000 in cash. Purchased equipment...
- Q The December 31, 2018, adjusted trial balance for the BlueboyCheese Corporation is presented below. Account Title Debits CreditsCash 55,000 Accounts receivable 275,000 Prepaid rent 7,500Inventory 40,000 Office equipment 500,000 Accumulateddepreciation—office...
- Q The following transactions occurred during the month of June2018 for the Stridewell Corporation. The company owns and operatesa retail shoe store. Issued 145,000 shares of common stock inexchange for $725,000...
- Q Sweeten Company had no jobs in progress at the beginning ofMarch and no beginning inventories. The company has twomanufacturing departments—Molding and Fabrication. It started,completed, and sold only two jobs during...
- Q In the last few decades, we have seen the collapse ofhigh-profile companies, partly owing to the weaker corporategovernance mechanisms. This implies that corporate governancerelates to only large public enterprises and...
- Q [The following information applies to the questions displayedbelow.] Pastina Company sells various types of pasta to grocerychains as private label brands. The company's fiscal year-end isDecember 31. The unadjusted trial...
- Q 2. Hal Smith opened Smith’s Management Company on March1 of the current year. During March, the following transactionsoccurred and were recorded in the company'sbooks:1. Smith invested $10,000 cash in the...
- Q 4. Linkin Log opened a real estate leasing business onJanuary 1, 2018 of the current year. During the year, the followingtransactions occurred and were recorded in the company'sbooks:1. John Link,...
- Q Required information Problem 12-4A Partnership incomeallocation, statement of partners' equity, and closing entries LOP2 [The following information applies to the questions displayedbelow.] Mo Meek, Lu Ling, and Barb Beck formed...
- Q Martinez Inc. is trying to determine whether to use the FIFO oraverage cost formula. The accounting records show the followingselected inventory information:PurchasesCost of Goods SoldEnding InventoryDateUnitsCostTotalUnitsCostTotalUnitsCostTotalOct.28,100$11$89,1008,100$11$89,1001513,50013175,500[1][2][3][4][5]2920,800[6][7][8][9][10][11][12][13]The company accountant has prepared...
- Q Roletter Company makes and sells artistic frames for picturesof? weddings, graduations, and other special events. Ron Kyler?,the? controller, is responsible for preparing Roletter?'s masterbudget and has accumulated the following information...
- Q The Polaris Company uses a job-order costing system. Thefollowing transactions occurred in October:Raw materials purchased on account, $210,000.Raw materials used in production, $188,000 ($150,400 directmaterials and $37,600 indirect materials).Accrued direct...
- Q On completing his MBA, James sees a possibility to make a profitselling computers. he has the opportunity to buy a job-lot ofcomputers for 50,000 Euros, and he can buy a...
- Q Pick three of the key terms that appears and briefly discuss itusing your own words. Your response must consist of at least threesentences.Key Terms:Administrative expense budgetBudget committeeBudget directorBudgetary slackBudgetsCapital expenditures...
- Q The following is the ending balances of accounts at December 31,2018 for the Vosburgh Electronics Corporation.Account TitleDebitsCreditsCash73,000Short-term investments188,000Accounts receivable129,000Long-term investments38,000Inventories218,000Loans to employees43,000Prepaid expenses (for 2019)19,000Land283,000Building1,580,000Machinery and equipment640,000Patent155,000Franchise43,000Note receivable265,000Interest receivable15,000Accumulateddepreciation—building623,000Accumulateddepreciation—equipment213,000Accounts payable192,000Dividends...
- Q 4) Using the balance sheet from #3, construct an incomestatement and balance sheet for the first month of operation, given thefollowing information: Sales$104,000.00Collections$77,000.00Purchases (paid for half)$60,000.00Ending inventory$57,000.00Equipment Depreciation$18,000.00Vehicle Depreciation$2,000.00Heat (due next...
- Q 1. Which of the following statements is true ofthe accounting for finished goods when a job is completed?Overhead costs are assigned to Finished Goods using apredetermined rate.Finished Goods is debited...
- Q QUESTION 3 Regression AnalysisGuide to marks: 20 marks – 5 for a, 10 for b, 3 for c, 2 fordBelinda, the accountant at Murray Manufacturing Company wants toidentify cost drivers...
- Q In preparation for developing its statement of cash flows forthe year ended December 31, 2018, Millennium Solutions, Inc.collected the following information: ($ in millions) Payment forthe early extinguishments of long-term...
- Q Murphy Smith has the following stock transactions for 2017.NameDate PurchasedBasisDate SoldSales ProceedsApex Corp.1/23/19867,2507/22/20174,500Blue Corp.4/20/201714,0009/13/201717,500Coral Corp.8/23/201010,75010/12/201715,300Diamond Corp5/19/20175,23010/12/201712,400Electric Corp.8/20/20177,30011/14/20173,500Based on the information in above table, answer the followingquestions:(a) What is Murphy’s net...
- Q QUESTION 4 CVP AnalysisGuide to marks: 20 marks – 4 for a, 4 for b, 4 for c, 8 fordShow all calculations to support your answers.A manufacturer can make two...
- Q The Auditor’s Responsibility with Going ConcernsRead “The auditor’s consideration of an entity’s ability tocontinue as a going concern.”Based on the reading, analyze the auditor’s responsibility todetermine whether a company can...
- Q 1. Down Under Products, Ltd., of Australia has budgeted sales ofits popular boomerang for the next four months as follows:Unit SalesApril60,000May80,000June100,000July85,000The company is now in the process of preparing a...
- Q For this discussion, you will explain the role of managementprofessionals with regard to accounting and analysis ethics, andyou will detail any challenges managers may face in ensuringethical accounting practices. Review...
- Q Beech Corporation is a merchandising company that is preparing amaster budget for the third quarter of the calendar year. Thecompany’s balance sheet as of June 30th is shown below:Beech CorporationBalance...
- Q Chapter 15 Problem 2 James Buchanan Orthotics and Prosthetics isplanning to request a line of credit from its bank. The company hasproduced sales estimates, and these appear in the worksheet...
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