Accounting question and answers for July 14, 2023
- Q Fiscal year is July-June. All values USD millions. 2012 2013 2014 2015 2016 5-year trend Sales/Revenue ...
- Q FACEBOOK, INC. CONSOLIDATED STATEMENTS OF INCOME (In...
- Q Carlson Fashions uses standard costs for its manufacturing division. From the following data, calculate the fixed overhead volume variance. Actual fixed overhead $30,000 Budgeted fixed overhead $25,000 Standard overhead allocation...
- Q Fact Pattern: Liquid Hydrogen Products, LLC, has a 365-day year. The following are its financial statements. LIQUID HYDROGEN PRODUCTS, LLC ...
- Q Negotiated prices transfer prices are Select one: A. agreed to by division management and unions. B. used when supplying and buying divisions independently negotiate a transfer price. C. negotiated with...
- Q Do It! Review 6-4 Early in 2014, Defoor Company switched to a just-in-time inventory system. Its sales and inventory amounts for 2013 and 2014 are shown below. 2013 2014 Sales...
- Q In 2017, Tom has a taxable Capital Gain of $30,000 from the sale of shares QSBC, and an allowable capital loww of $8,000. He has a carry-forward net capital loss...
- Q correct please Which of the following is not a fiduciary fund? a Multiple Choice O Private purpose trust Custodial Permanent Pension trust
- Q Depreciation and determination of gain or loss SP Ltd. has a December 31 year end. On April 2, 2016, SP purchased a piece of equipment at a cost of $180,000....
- Q Case Study 1 After spending many years working in the Gulf region as Chief Accountant, Michael decided to move to his hometown...
- Q For the current year, Electric Corporation expected to sell 42,000 industrial power cords. Fixed costs were expected to total $1,650,000; unit sales price was expected to be $3,750; and unit...
- Q To more efficiently manage its inwentory, Treynor Corporation maintains its internal inventory records using first-in, fist-out (FIFO) under a perpetual inventory system. The following information relates to its...
- Q The shoe buyer plans to promote flip flop sandals at $24.99. The buyer needs to purchase 10,000 flip flops for the event. 6,000 flip flops have been purchased at a...
- Q Cost accountants find that one-third of the company's products are not profitable, looks like they have to discontinue those non-profitable products to improve the overall company profit. Do you agree,...
- Q Sun, Inc., has 2,500 shares of 8% $100 par value cumulative preferred stock authorized, 1,500 shares issued and 1,000 shares outstanding. It also has 200,000 shares of $10 par value...
- Q The jewelry buyer is planning a Mother's Day promotion on bracelets. The buyer purchased the following bracelets: 1200 silver charm bracelets at a cost of $5.00 900 beaded bracelets at...
- Q Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial information monthly. Accounts Payable $ 3,879 Salaries and Wages Expense $21,333 Cash 8,404 Notes...
- Q [The following information applies to the questions displayed below.] Refer to the following transactions. Sold 4,400 previously unissued shares of $1 par value common stock for $17 per share....
- Q The beginning inventory and purchases fro an item for the period were as follows: ...
- Q Requirement 2: The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The...
- Q Study Pack Practice hapter 8, Problem 6P Bookmark Show all steps: ON Problem To the left of each of the following problems...
- Q The estimates the expected receipts and payments of cash for a period of time. a. cash budget b. capital expenditures budget c. cash sales budget d. production budget
- Q FIFO, weighted-average, and LIFO methods are often used instead of specific identification for inventory valuation purposes. Compare these methods with the specific identification method, discussing the theoretical propriety of each...
- Q Rock Corporation acquires all of the assets of Stone Corporation using only its voting stock. Stone Corporation distributes the Rock stock to its shareholders pursuant to its liquidation. After the...
- Q Errors in Inventory Counts The following information was taken from the records of Spencer Enterprises: 2013 2012 Beginning inventory $55,000 $75,000 Cost of goods purchased 540,000 500,000 Cost of goods...
- Q A company owns 11% bonds with a par value of $198,000 that pay interest on October 1 and April 1. The bonds were purchased on October...
- Q - Gurrant arter ) - Paramach Help Seven Saw Chapter 3 Graded Homework Check my work 2 Dillon Products...
- Q Problem 17-15 On December 31, 2020, Pearl Corp. had a $11,700,000, 8.0% fixed-rate note outstanding, payable in 2...
- Q The Fremont Company uses the weighted-average method in its process costing system. The company recorded 31,500 equivalent units for conversion costs for November in a particular department. There were 6,200...
- Q Pereira LLC owns equipment with a $250,000 adjusted basis which was purchased on 3/14/2015 for $435,000. Determine the amount and character of Pereira LLC's gain or loss if the equipment...
- Q under which circumstance would one less closing entry than usual be made a. when net income is zero b. when revenues have not yet been collected c. when a net...
- Q Which of the following methods of joint cost allocation serves the purpose of product costing? a. The physical units method ...
- Q Early in its fiscal year ending December 31, 2018, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a...
- Q The amount of income that would result from an alternative use of cash is called: allocated cost O sunk cost O variable cost opportunity cost
- Q The Goldfarb Company manufactures and sells toasters. Each toaster sells for $24.05 and the variable cost per unit is $16.40. Goldfarb's total fixed costs are $25,300,...
- Q Which stage of the five-step process for gathering information includes identifying possible reasons for an individual's behavior? Observe. Document. Propose. Test. Discuss
- Q thanks . Calculate dr -- d di a. b. dr 14 28 28 d
- Q Select one of the following industries: banks, electric utilities, oil and gas, transportation, insurance, and real estate companies. Discuss the financial analysis concepts that are unique to the industry. be...
- Q Gloria's Bakery sells three large muffins for every two small ones. A small muffin sells for $6.00 with a variable cost of $2.00. A large muffin sells for $8.00 with...
- Q Which of the following job positions is a staff position? a.production vice president b.controller c.assembly foreman d.production supervisor
- Q What information is considered a necessary evil in constructing an investment policy statement in accounting? Include your referencing. KINDLY ANSWER ASAP VERY URGENT
- Q Materials Quantity Variance. Sweets Company produces boxes of chocolate. A standard of 2 pounds of material is expected to be used for each box produced, at a cost of $5...
- Q The details of cost and sales of a firm at an output level of 60,000 units are as follows: Sh. Sales 150,000 Raw materials 66,000 Labor 33,000 Semi-variable...
- Q The ledger of Tyler Lambert and Jayla Yost, attorneys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 2016: Lambert and Yost ADJUSTED TRIAL BALANCE...
- Q Parent Co. purchases 80 percent of Son Company on January 1, 20X1, when Parents retained earnings balance is $550,000 and Sons is $200,000. During 20X1, Son reports $20,000 of net...
- Q Old Camp Company manufactures awnings for its own line of tents. The company is currently operating at...
- Q A ski resort hotel room in Switzerland costs SF300. A ski resort hotel room in Colorado costs $329. Assuming the slopes and hotel rooms are identical, what is...
- Q Check my work 5 Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $40 per unit. Variable expenses are $20.00 per unit, and fixed expenses total...
- Q Earnings per share (EPS) is a popular financial ratio. It is easily accessible to investors as a company gives EPS figure on its annual reports. Often, it is the first...
- Q Hansen Corporation's balance sheet reported the following: Common stock issued and outstanding - 10,000 shares $80,000 Paid-in capital in excess of par common stock 120,000 ...
- Q Hi! Could someone explain how Indexes prices of market and industry sectors and that relevant section is related to the question? Or what is its analysis? Future Telecom plc, a...
- Q In 2017, MKT ventures invests $100,000 in SPC with the post-money valuation of $2 per share. In 2017, SPC is preparing IPO in 3 years. Expected earnings in 2019 is...
- Q In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10,n/30, FOB shipping point, to all customers who...
- Q What are the components of pension expense? How do the components of pension expense differ among the various types of contribution and benefit plans? In the calculation of pension expense...
- Q What form is provided by the C corporation to the shareholders when the distribution to the shareholders is in excess of the E&P?
- Q On January 1, 2016, Bradley Recreational Products issued $130,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $125,799 to yield...
- Q Suppose a clinical laboratory has fixed costs of $600,000, a variable cost rate of $25, and average per-test revenue of $60. What is the contribution margin? What is the breakeven...
- Q Mendoza Company's highest point of total cost was $100,000 in June. Their point of lowest cost was $50,000 in January. The company makes a single product. Production volume in June...
- Q The following summary data for the payroll period ended on April 10, 2015, are available for Brac Construction Ltd.: ...
- Q On November 1, 2016, Gordon Co. collected $10,380 in cash from its tenant as an advance rent payment on its store location. The six-month lease period ends on April 30,...
- Q Inventory Costing Methods and the Periodic Method Lambeth Company experienced the following events in February: Date Event Units Unit Cost Total Cost Feb. 1 Purchased inventory 100 @ $32 $3,200...
- Q Maynard Company projects the following sales for the first three months of the year: $15800 in January; $15,900 in February; $11,100 in March. The company expects 60% of the sales...
- Q Three individuals form the ABC partnership and each contribute the following to form the partnership: Cash: $35,000.00 Future services to be rendered to the partnership worth: $350,000 Real property...
- Q On October 31, 2015, the bank statement shows that your company has $14,056.73 in its checking account. You are aware of three outstanding checks for a total of $3,762.19. During...
- Q Ming Corp. has collected the following data concerning one of its products: The ROI percentage is 50% 55% 45% 60%
- Q TE Connectivity sold manufacturing equipment for $21,000. TE Connectivity originally purchased the equipment for $85,000, and depreciation through the date of sale totaled $73,500. What was the gain or loss...
- Q Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000. Assuming the equipment was sold for $14,200, journalize the entry to record the sale. ACCOUNT...
- Q 46. The allocation of owner's private expenses to his/her business violates which of the following? A.O Accrual concept B.Matching concept C.Separate business entity concept D.Consistency concept
- Q Brian just completed a Client Needs Assessment and his client confirmed that she will require profitability tracking, and needs to create budgets and purchase orders in her accounting...
- Q Rowland Company is a small editorial services company owned and operated by Marlene Rowland. On August 31, 2016, the end of the current year, Rowland Companys accounting clerk prepared the...
- Q The following data are marks of students in the final exam: 18, 20, 23, 32, 35, 36, 31, 33, 28, 37 , 40, 22, 25, 24, 29, 25, 34,...
- Q According to Klein (2016), making ethical decisions between ethical absolutism and ethical relativism can lead to different outcomes. How can moral reasoning of a specific situation differ based on absolutism...
- Q In a complete liquidation of a corporation to a Parent C corporation who owns more than 80% , if the liquidating corporation has negative E&P and the parent corporation has...
- Q On 1/1/2011, ABC Company purchased a piece of equipment costing $90,000. The equipment is expected to have a useful life equal to 5 years and a salvage value equal to...
- Q Use the following financial statements and additional information
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