Accounting question and answers for July 14, 2023
- Q Journal Entries and Trial Balance On October 1, 2014, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:...
- Q After our move to California, we used the money that Scott received from that bad car accident in 2018 to purchase a 100% electric car, a 2019 Tesla Model 3...
- Q please answer all 3 of them, Thank you. The Tables incase if you need them. 14) A company wants to have $20,000...
- Q Wendy es una planificadora financiera certificada que trabaja por cuenta propia y comenz su negocio en 2017. Durante el ao, compr una computadora de $500 y un escritorio de $250....
- Q A construction company entered into a fixed-price contract to build an office building for $20 million. Construction costs incurred during the first year were $6 million, and estimated costs to...
- Q On the balance sheet, the account Premium on Bonds Payable is: Select one: A. Added to Bond Interest Expense B. Deducted from Bond Interest Expense C. Added to Bonds Payable...
- Q b. What is the 3rd closing entry for corporations? 2 Explain the difference between a cash dividend and a stock dividend. 3 What is a "prior period...
- Q Golden Corporation agrees to pay an employee $8,000 a year for 20 years beginning ten years from today and decides to fund the payments by depositing one lump sum in...
- Q In the export cost timeline, which of these would come first? a. Contract Negotiations b. Cargo Insurance C. Labelling d. Business Development
- Q At year-end, The Kitchen Shop has a refrigerator that has been used as a demonstration model. The refrigerator cost $375 and sells for $550 when new. In its present condition,...
- Q LO 2,3 *** Practice Exercises 2, 3 Show me HOW EXERCISE 8-6 On September 30, Cody Company's selected account balances are as follows: Employees' Federal Income...
- Q Mr. Saeed has a small bakery in Matrah; he believes it is foolish to report financial information on a yearly basis. Instead, he thinks that financial information should be...
- Q The mortgage crisis caused a lot of consumers to stop spending money. The decrease in spending led to a decrease in production. Which type of...
- Q nearest dollar)? Select one: a. 12,364 b. 11,782 c. 13,091 d. 11,127
- Q Determine the treatment of a loss on rental property under the following facts: Basis $680,000 FMV before the loss 816,000 FMV after the loss 204,000 The amount...
- Q X.X%.) ( Net income Preferred dividends Net sales = Return on sales 2016 ( $ 21 $ 0 494 4.3 II % ) 7 )/ $ )/ $...
- Q A comparative balance sheet and an income statement for Blankley Company are presented below: Kars Company Comparative Balance...
- Q Cullumber Company had these transactions during the current period. June 12 Issued 79,000 shares of $1 par value common stock for cash of $296,250. ...
- Q A company is considering buying a cnc machine. In today's dollars, it is estimated that the maintenance cost for the machine will be $32,000, $33,000, $36,000, $37,000 and $39,000 for...
- Q Tony and Suzle graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor...
- Q Gains and losses that are neither unusual nor infrequent are reported as: (Multiple Choice) A: Part of continuing operations in after-tax dollars. B: A prior period adjustment on the...
- Q Interrelated sales transactions (sales of one product affects the sales of anothe rproduct) is a qualitative characteristic most commonly esamined in a 1) special order decisions, 2) segment elimination decision,...
- Q Stark Company has five employees. Employees paid by the hour receive a $11 per hour pay rate for the regular 40-hour workweek plus one and one-half times the hourly rate...
- Q Find the extreme values of f(x, y) = 22 + y + 4.1 4y on the curve described by x + y + x = 9
- Q Mohammad Holding is a manufacturer of camping trailers based in Mount Druitt, Sydney, nearly 70 per cent of the company's out put is exported to New Zealand Fiji island and...
- Q Which of the following statement regarding c corporation I falseC corporation are generally not subject to corporate income tax C corporation are entities that are separate from their owners...
- Q 0 Required information C4-2 From Recording Transactions (including Adjusting...
- Q In the Preparedness Day Bombing in San Francisco, Billings and Mooney were found guilty for all of the following except a. their association with the McNamara Brothers b. the press...
- Q i had to take 3 pics coz the case is so long. i hope its clear enough. 1 2 3 You are Ranjit...
- Q Farr Company purchased a new van for floral deliveries on January 1, 2012. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the...
- Q Assume that Josh earns $48 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings...
- Q On January 3, 20X9, Jane Company acquired 75 percent of Miller Company's outstanding common stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share...
- Q Harrison Corporation reported pretax book income of $672,500. Tax depreciation exceeded book depreciation by $550,000. In addition, the company received $210,000 of tax-exempt municipal bond interest. The companys prior year...
- Q 1. Classify each of the following expenditures paid in 2022 as a deduction for AGI, a deduction from AGI, or not deductible, explain. (a) Roberto gives cash to...
- Q What is the effective interest rate (rounded) on a 1-year, noninterest-bearing note with a stated rate of 12% and a maturity value of $100,000 ?15.90 13.64 12 16.65
- Q Qu caracterstica de la informacin satisface un documento original firmado? A. Relevancia. B. Fiabilidad. C. Suficiencia. D. Utilidad
- Q Which of the following statements is FALSE regarding the CONTRIBUTION MARGIN INCOME STATEMENT? a. It will include a subtotal called gross profit. b. It is not allowed for external reporting...
- Q Sullivan Equipment Company Absorption Costing Income Statement For the Month Ended March 31 Sales $Sales 567,000 Cost of goods sold: Cost of goods manufactured $Cost of goods manufactured 304,000 Inventory,...
- Q P8.3 A restaurant is being planned that will require an investment of $150000in equipment by the owner
- Q Depreciation is computed by the straight-line method with no salvage value. The company ...
- Q Estimated manufacturing overhead $ 157,050 Estimated machine hours 4,500 Actual manufacturing overhead $ 156,000 Actual machine hours 4,580 The estimates of the manufacturing overhead and of machine-hours were made at...
- Q Gunk Co. reported an asset retirement obligation on its 2020 financial statements. The company estimates that the cost to retire this asset at the end of 2040 will be $3,717....
- Q Questions: Discuss, using examples, how the strengths of the scientific approach are also the weaknesses. The concepts of induction and deduction are often represented as discrete with respect to...
- Q Q1: Explain why a company must use documentation. Q2: What is the best documentation to use in outlining how to resolve system errors? Why is it better than...
- Q Your banker has analyzed your company account and has suggested that her bank has a cash management package for you. She suggests that with a concentration banking system, your float...
- Q Ence sales, Inc., a merchandise company, reported sales 6,400 units in April at a selling price of $684 per unit. Cost of goods sold, which variable cost, was $455 per...
- Q I am filling out a form 1120. On Schedule M-3, I cannot figure out all of line 13. The last picture is of M-3. ...
- Q Terry is one of the original partners in a six-month-old general partnership. If debts of the firm become due and the firm cannot pay them, Terry will be: A. Personally...
- Q QUESTION 1 Below are the Statements of Profit or Loss and Statements of Changes in Equity of Jupiter Bhd and Mars Bhd for the year ended 31 December 2018....
- Q Rainier Manufacturing Company uses the step-down method for allocating its support department costs to operating departments. The overhead costs of support Department A are to be allocated first, followed...
- Q Cuando hay una prdida neta, la cuenta Resumen de ingresos tendra un saldo acreedor. Seleccione uno: Verdadero Falso
- Q The data for year-end adjustments are as follows: Fees earned, but not yet billed, $13. Supplies on hand, $4. Insurance premiums expired, $10. Depreciation expense, $3. Wages accrued, but not...
- Q According to the Codification, is Earnings per Share (EPS) a required disclosure with the quarterly financial statements of a publicly-traded company? Yes or No?
- Q Una empresa compr un terreno por $70,000 en efectivo. La comisin de los corredores de bienes races fue de $ 5,000 y se gastaron $ 7,000 para demoler un edificio...
- Q The Stage of a Hotel Life Cycle is based on product Select one: O True O False
- Q ABC Had a balance of 5 in ADA on 1/1/2018. During 2017, 10 in customer accounts were written off and 12 were added to the allowance thru bad debt expense....
- Q 1. Sketch a tax invoice which is compliant to the Service Tax Act 2020. a) Explain why Customs (Amendment) Act 2020 and Free Zones (Amendment) Act 2020 was...
- Q Logitech Corporation transferred $100,000 of accounts receivable to a local bank. The transfer was made without recourse. The local bank remits 85% of the factored amount to Logitech and retains...
- Q On July 1, 2016, Livingston Corporation, a wholesaler of manufacturing equipment, issued $46,000,000 of 20-year, 10% bonds at a market (effective) interest rate of 11%, receiving cash of $42,309,236....
- Q Value chain concepts view relationships with suppliers as representing Select one: A. complex logistical problems. B. an extended business partner. C. an opportunity to gain a competitive bargaining position over...
- Q Explain the difference between operating and financing liabilities. In addition, discuss the implications of lease accounting for the analysis of financial statements.
- Q On January 1, Mulhanney Corp purchased a delivery truck for $46,000, having a salvage value of $4,000, and an estimated useful life of 4 years. Calculate the depreciation expense in...
- Q Closing Entries; Net Income On February 28, 2014, the balances of the accounts appearing in the ledger of Foldaway Furnishings Company, a furniture wholesaler, are as follows: ...
- Q If Tom invests $55,000 in a taxable corporate bond that provides a 11 percent before-tax return, how much will Tom's investment be worth in either 8 or 20...
- Q Ive finished the majority of the problem by myself, i know the photos make it look like a lot buts it all 1 question for Accounting. The first two...
- Q Durante los perodos de costos crecientes, una ventaja del mtodo de costo de inventario LIFO es que compara los costos ms recientes con los ingresos actuales. Seleccione uno: ...
- Q Selected financial information from General Mills as of May 29, 2016 follows. $ millions Debit Credit Net sales $16,797.1 Cost of sales $10,780.4 Selling, general, & administrative expense & other...
- Q Which of the following taxpayers' earnings are below the required threshold to receive a Form 1099-K for gig economy activities under the new guidelines? Pia. Pia earned $175 and had...
- Q In which of the following industries could job costing be used? a) Bread making b) Cement Production c) Machine shop and specialty manufacturing d) All of the given answer
- Q In the redemption and partial liquidation area, what are the several tests that are done at the shareholder level to determine if redemption treatment is warranted, and what is the...
- Q The following data are for Trendy Fashion Apparel: North South Sales volume (units): Blouses 5,000 5,000 Skirts 4,000 8,000 Sales price per unit: Blouses $20.00 $22.00 Skirts $18.00...
- Q 1. Why are the bonds treated as a conservative investment? Do you think the treasury bills are risk free assets? 2. What are the trends of the bond market in...
- Q MISC Abe and Babe have operated their partnership for ten years. Prepare journal entries for the following: 6/1/2000 Abe invests an additional $2,000 into the business 7/1/2000 Babe invests a...
- Q Company C purchase a two year insurance policy from Company S amounting to 240,000 on June 1, 2018. Record the entries to adjust the expense as of December 31...
- Q Question 9 Based strictly on the financial information presented above, should the company replace Required: now? (Ignore time value of money)
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