Accounting question and answers for July 14, 2023
- Q Explain three (3) benefits in using Activity-based costing system for a manufacturing company.
- Q Discuss briefly whether a code of conduct is necessary for good corporate governance? The paragraph above argues that it is impossible to legislate for ethics....
- Q Jing is an accountant at Barrier Reef Tours Australia and has included the following in the companys Profit and Loss account. accrued wages; advertising; bad debts provision; hirepurchase payments; interest;...
- Q In November and December 2017, Coronado Industries, a newly organized magazine publisher, received $77100 for 1,000 three-year subscriptions at $28 per year, starting with the January 2018 issue. Coronado included...
- Q Journal entry worksheet Record the entry to close income summary account. Note: Enter debits before credits. Journal entry worksheet Record...
- Q 1. In considering a special order that will enable a company to make use of presently idle capacity, list the costs that would more than likely be relevant in the...
- Q The following inventory information for ABC Company is given for the month of November: November 1 Beginning inventory 740 units @ $2.20 cost per unit November 7 Purchased 400 units...
- Q Laura and Leon were granted a divorce in 2011. In accordance with the decree, Leon made the following payments to Laura in 2016: Child support payments contingent on the age...
- Q A company uses a periodic inventory system. On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company...
- Q Assume that Jose is indifferent between investing in a corporate bond that pays 10% interest and a stock with no growth potential that pays an 10.1% dividend yield. Assume that...
- Q Tolar Corporation tiene 500 calculadoras de escritorio obsoletas que se mantienen en inventario a un costo total de $720 000. Si estas calculadoras se actualizan a un costo total de...
- Q 32) Psalm Company reported P210,000 in sales. Its opening accounts receivable balance was P45,000 and its ending accounts receivable balance was P50,000. The company also reported P20,000 unearned...
- Q On October 10, the stockholders equity of Sherman Systems appears as follows. Common stock$10 par value, 91,000 shares authorized, issued, and outstanding $ 910,000 Paid-in capital in excess of par...
- Q K sold 4,000 shares of a public company for $16,000. Before the sale, K owned 12,000 shares; an initial 7,000 were purchased for $14,000 and an additional 5,000 were purchased...
- Q Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $24,000 from County Bank and paid interest of $1,440. Lionel used...
- Q Lea y Aaron son ambos maestros. Estn casados y presentan una declaracin de impuestos conjunta. Durante 2022, Leah tuvo $450 en gastos de educador calificado y Aaron tuvo $100 en...
- Q Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses...
- Q Tanco Industries Flexible Budget Performance Report: Sales and Operating Expenses
- Q Renue Spa had the following balances as of December 31, Year 1: Accounts receivable was $89,000, allowance for doubtful accounts was $2,100 and total retained earnings at...
- Q Determine the present worth in year 0 based on the following cash flow diagram.
- Q Which of the Following Items will be Shown on the Balance Sheet ? Dividends Total Current Assets Total Assets Name of the President of...
- Q Williams Company computed its cost per equivalent unit for direct materials to be $1.80 and its cost per equivalent unit for conversion to be $3.44. A total of 381,000 units...
- Q Misty Company reported the following before-tax items during the current year: Misty's effective tax rate is 40%. What would be Misty's net income for the current year? Sales $600 Operating...
- Q Assume that oompany provided the following T-account before it had recorded any closing entries: Based on the transactions recorded in this account, which of the following...
- Q Identify the legislative requirements of the property appraisal process in south Australia
- Q Instructions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $243,100, terms n30. The cost of the goods sold is $154,580. Showcase Co. issues a...
- Q QUESTION 8 "Imperfect Information" means that one of the parties in a transaction has less information about the product than the other party True False QUESTION 9 Which...
- Q Lansing corporation has reported the following information Credit card sales $80,000 Sales on account $50,000 Credit card sales receive a 3% discount. Sales on account are given terms of 2/10,...
- Q Pregunta 23 Pregunta 23 Un aumento en el margen de contribucin se puede lograr por _____ A. un aumento en el precio de...
- Q If Julius has a 30% tax rate and a 9% after-tax rate of return, $32,500 of income in three years will cost him how much tax in today's dollars? Use...
- Q $7.100 $16,100 $12,400 $10,100 $19.100 QUESTION 17 for $28,000 and used only for personal reasons. How much should be included in Kathys taxable income? $30,000 $20,000...
- Q Q1 a) explain the main financial services (financial products extended by commercial banks of the country with which you are familiar, give examples) (10 marks) b) Define branch...
- Q Closing Entries with Net Loss Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at...
- Q a. The initial cost of the extraction equipment is $2,500,000. In addition to this cost, the equipment will require a large concrete foundation at a cost of $300,000. The vendor...
- Q Albert Gaytor and his wife Allison are married and file a joint return for 2016. The Gaytors live at 12340 Cocoshell Road, Coral Gables, FL 33134. Mr. Gaytor is a...
- Q 1. Find the accumulated value of monthly payments of $60 at the end of each monthfor 5 years if interest is 7.23% compounded monthly.
- Q Task Details: Consolidated financial statements from worksheet with adjustment entries for inventories, PPE, and dividends Jonathan Ltd acquired all the issued shares (ex-div.) of...
- Q in a facility, the support worker assists the resident by providing routine hygiene care which statement about morning care is correct,
- Q Ryan Terlecki organized a new Internet company, CapUniverse, Incorporated. The company specializes in baseball-type caps with logos printed on them. Ryan, who is never without a cap, believes...
- Q Some of the items in the shop appear dusty and "shopworn." Checklist: Calculate each red flag's impact on either revenues or expenses. Calculate each red flag's...
- Q All of the following characteristics are common to both tangible and intangible noncurrent assets with finite lives except A. derive value from the ability to generate economic benefits. B. have...
- Q Use the following information to compute the number of units that must be sold to achieve a target income of $60,000
- Q The following is the sales budget for Yellowhead Inc. for the first quarter of 202F. \table[[,January,February,March],[Sales,$197,000,$217,000,$240,000
- Q Please teach me how to get the best product mix!! I don't know how these two were found. (The best product mix according to this traditional approach is then...
- Q ACCOUNTING PROJECT JOURNAL ENTRIES OCT: - 10/1 - \$1,500 rent check cut \& mailed...
- Q Cost Accounting Discussion - Stakeholders and CVP Analysis Discuss elements of uncertainty for internal shareholders that remain or are introduced when using CVP analysis to evaluate profits and revenue such...
- Q Which of the following is not a required disclosure regarding intangible assets in the period a company acquires intangible assets? A. the rate of return used to estimate the value...
- Q Please explain the diference between the Direct Write off method and Allowance Method of writting off a receivable.
- Q Does anyone have the solution manual for the "Systems Understanding Aid 8th Edition" Transaction List A?
- Q In computing amortization of a leased asset where there is no bargain purchase option, the lessee should subtract A. no residual value and depreciate over the term of the lease...
- Q Alpha company had an inventory of 10 units costing 6 each on june 1 Page 2 Q3. Alpha Company had an inventory...
- Q Paid $36,000 for a three year insurance policy with coverage beginning on September 1. Make a general journal entry.
- Q Question 1 Laurel Designs has 1,100 shares of 7%, $50 par value cumulative preferred stock issued at the beginning of 2022. All remaining shares are common stock. Due to cash...
- Q On January 1, 2020, BC Company purchased 3,000 shares of Vancouver Company at a cost...
- Q Prepare a Statement of Changes in Equity report for Belindas Chemist for the year ending 30/06/2020 using the following details: Belinda took out $4,000 in drawings during the year, the...
- Q ABC Company is preparing for its year end at June 30, 2021. Note that prepaid expenses are initially recorded in asset accounts, and...
- Q What are the strategic implications of the general ledger and financial reporting cycle
- Q The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 7,400 Units sold...
- Q Please see the pic ABC Company's accounting records reported the following Calculate the amount of net income reported in ABC Company's 2028 income statement
- Q PLANT Ltd acquired a property on 1 January 2018 for its investment potential at a cost of GHS200,000. On acquisition, the property was estimated to have useful life of 40...
- Q Lori's Dance Studio created a $220 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: (Click the icon to...
- Q The manager from the new accounting firm that is doing auditing for my business tells his/her team that since PwC is a Big Four Firm with a fine reputation, they...
- Q wheres the answer?
- Q please help me im stuck thank you Silven Industries, which manufactures and sells a trighly successful...
- Q I need help with the Balance sheet so total assets can equal total liabilities+stockholders equity. I have completed all the other steps and attached then below. Thank you!! Hampton Accounting...
- Q income measurement include judgment identify a solution proposed by researchers or professional organizations to remedy it
- Q Brothers Harry and Herman Hausyerday began operations of their machine shop ( H&H Tool, Incorporated) on January 1, 2020. The annual reporting period ends December 31....
- Q For Wealth Management, I want a Portfolio Design for as under. A very detailed and elaborate writeup required on each. (1) Rs.1 crore at the age of 30 years. (2)...
- Q 3. Motivated is a retailer selling inspirational books. The following information was provided by the bookkeeper for the year ended 28 February 2022: Additional information 1. Dividends were...
- Q In the month of June, Jose Hebert's Beauty Salon gave 3,500 haircuts, shampoos, and permanents at an average price of $40. During the month, fixed costs were $ 16,500 and...
- Q Adams Manufacturing Company established the following standard price and cost data: Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.80 per unit...
- Q Which of the following companies would have the highest proportion of variable costs in its cost structure? A Airline; B Architectural firm; C Public utility; C Fast food outlet
- Q A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process;...
- Q Curly, Larry, Moe and Serafina incorporated Stooges Corp. As part of an integrated transaction, they each contributed the following: Curly contributed cash of $100,000 in exchange for 10 shares of...
- Q prepare an excel sheet to calculat the soler radiation on a horizontal surface in riyadh
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