Accounting question and answers for July 15, 2023
- Q 10 pts Question 9 Your Corporation's unadjusted book balance at September 30 is $700. The following information is...
- Q Based on the following information, compute cash flows from financing activities under GAAP. Purchase of investments $ 250 Dividends paid 1,200 Interest paid 400 Additional borrowing...
- Q Prepare a flowchart, logic diagram, or narrative demonstrating your understanding of the revenue process.
- Q Johnny took $20,000 loan from his employer, with an agreement to pay $1000 instalment every month, at 3% interest when the government rate was 5%. Johnny had paid 3 instalments....
- Q Towson Company manufactures book cases, and each requires 20 board feet of lumber. Towson expects that 1,600 and 1,650 book cases will be built in June and July, respectively. Towson...
- Q Centre Sports, Inc. purchased some of its stock from common shareholders during the year. What was the effect of the repurchase on the Stockholders Equity and the Earnings Per share...
- Q Carla Vista Inc. uses the average cost formula in a perpetual inventory system. (Use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your...
- Q Can you please help me solve this in your earliest convenience? What is the total crashing cost? (Enter your response as a whole number)
- Q For a firm that presently has a current ratio of 2.0, the effect on this ratio of paying a current liability is: a. Raises the current ratio. b. Lowers the...
- Q Use the following information to answer the next six questions: All balances are as of 12/31/2019 unless specified otherwise. Loss on the Sale of Equipment...
- Q How do I calculate this Equation? Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,400 shares of cumulative preferred 3% stock, $15 par, and 399,900 shares...
- Q Corporation has shares of common stock outstanding and pays quarterly dividends of per share. At the beginning of the current year, the balance in its accumulated E&P account is ....
- Q The carrying amount of a cash-generating unit was impaired. The impairment loss was OMR 1200. The cash-generating unit included the following assets: Goodwill OMR 2,000; Buildings OMR 4,000; Equipment OMR...
- Q Question 7 10 pts Froot Loop Inc., a cereal manufacturer, has variable costs of $0.60 per unit of product. In May, the volume of production was...
- Q The Net Cash Flows from Investing Activities section will include: Select one: a. $(616,000) b. $110,000 c. $(110,000) d. $160,000 e. $616,000
- Q Question 28 Not yet answered Points out of 1.00 LB Corporation purchased a business car in June 2020 for $62,000. The car weighs 8,000 pounds and will be...
- Q Cullumber Hardware takes pride as the "shop around the corner" that can compete with the big-box home improvement stores by providing good service from knowledgeable...
- Q A / R balance on 12/31 / 2018 was 41. 2018 Sales were 113. Cash received from customers was 118. What was the A / R balance on 12/31 /...
- Q Cost of goods available for sale is: beginning inventory + cost of goods sold. cost of goods sold + purchases. purchases + ending inventory. ending inventory + cost of goods...
- Q Discuss some of the major reasons why companies prepare budgets
- Q You are the bookkeeper for a store that resells school uniforms. You need to record the following transactions in the books: In January, the store purchased 10 uniforms...
- Q How would you use the Cost-Volume-Profit Model for the company PG&E?
- Q There's a monthly budget for a dept, you find out that the monthly budget has been exceeded before the end of the month but there is an expense that must...
- Q Jupiter cost of direct used in during year , what is Jupiter cost of goods sold ,
- Q For a number of years, a private not-for-profit entity has been preparing financial statements that do not necessarily...
- Q The number of units that rust be sold to achieve a target proth of $31,500 is closest to: 42.000 units 9,400 units 35,000 units...
- Q Exercise 4-18 (Algo) Preparing a multiple-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended December 31 . {:[" Gain on sale of...
- Q Losses on the cash sales of property, plant, and equipment: Multiple Choice Are part of cash flows from operations. Are the excess of the cash proceeds over the book value...
- Q What are the differences between cash flows used in capital budgeting calculations and past accounting earnings?
- Q Assessing Contract Validity (4) identifiabie payment terms, and isi protuble coliection
- Q 1. Patton Corporation had the following items on its financial statements for two recent years: Year 2 Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000...
- Q If there is a significant financing factor, such as an unreasonably long deadline, the company must adjust the fee so that it takes into account the effect of the time...
- Q Exercise 16-45 Overhead Variances (LO 16-5, 6) Brice Corporation shows the following overhead information for the current period: 1,050,600 ($276,300 fixed and $774,300 variable) S 281,400 (21,900 direct...
- Q Coronado Fire, Inc. manufactures steel cylinders and nozzles for two models of fire extinguishers: (1) a home fire extinguisher and (2) a commercial fire extinguisher. The home model...
- Q Responsibility accounting is an important concept that is the part of the control function of management please explain
- Q David, a single taxpayer has a $87,000 of gross income for 2020. David won a lottery prize in 2019 and on the advice of his girlfriend he decided to invest...
- Q When common stock is issued by a corporation for a cash price above par value, the increase in Total Equity and Retained Earnings is
- Q Assuming the student is a Chief Executive Officer of XYZ Company Limited who has received the company's Master budget plan for the next year as per the attached file. Being...
- Q Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one of two new products for a five-year period. His annual...
- Q Your company has given all sales personnel a company credit card for travel and entertainment expenses. How would you use QuickBooks to record the sales force's expenses?
- Q Daisy popcorn inc sells a single popcorn product the per unit selling price is $25 and variable costs are 70% of this selling price. Fixed costs are currently $28,000 per...
- Q Indiana Jones Corp has provided the following contribution format income statement. All questions concern situations that are within the relevant range. \table[[Sales units),$367,200
- Q Please solve the question in the image!
- Q Mose contributes land with a basis of $100,000 and a fair market value of $225,000 to Beet Farming Corp in exchange for 100% of the corporations common stock. The land...
- Q Information on four investment proposals is given below: Required: 1. Compute the profitability index for each investment proposal. (Round your answers to 2 decimal places.) 2. Rank the...
- Q Your next-door neighbor recently began a new job as assistant controller for Conundrum Corporation. As her first assignment, she prepared a performance report for January. She was scheduled to...
- Q Write Company deposits all cash reciepts on the day when they are recevied and it makes all cash payments by check. Wright Company deposits...
- Q At a break-even point of 400 units sold, variable expenses were $4,000 and fixed expenses were $2,000. What will the 401st unit sold contribute to profit? *...
- Q ABC ended 2018 with a 63A / R balance. The balance in A / R at the end of 2019 was 55. Sales for 2019 were 144. What amount of...
- Q Bank reconciliation Now that you have finished recording all of the transactions for the month of June, you are required to prepare a bank reconciliaton as at 30...
- Q Wallis Company manufactures only one product and uses a standard cost system. The company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base....
- Q Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,500 $24,250 Short-term investments (end of year) 8,270...
- Q When originally purchased, a vehicle costing $23,580 had an estimated useful life of 8 years and an estimated salvage value of $1,900. After 4 years of straight-line depreciation,...
- Q On 1/1/21, VWX Inc entered into a 6 year equipment lease requiring 1 payment of $25,000 per year, in advance. At the end of the lease term VWX will...
- Q A project is estimated to cost $160,050 and provide annual net cash flows of $30,000 for eight years. Present Value of an Annuity of $1 at Compound Interest Year 6%...
- Q Excel, Using a Macro, simulate 100 times calculation of the cumulative interest and principal payments and then assigning it to a button.
- Q In order to acquire a patent a company issued 3500 shares of OMR 5.8 each. The original cost of patent was OMR 20,000. The market values of the shares issued...
- Q Describe the different asset and debt measurement bases and establish advantages and disadvantages for each of them. 1. Oriented to the past-Historical cost 2. Current oriented- Replacement cost 3. Oriented...
- Q WRONG
- Q Garden Depot is a retailer that provided the following budgeted cash flows for next year: 3rd Quarter $ 280,000 $ 269,000 Total cash receipts Total cash disbursements 1st Quarter...
- Q The Board of Directors of Jin Corporation declared an annual dividend of P 5 per share on 50,000 shares of P 10 par value ordinary shares issued and outstanding at...
- Q The following information is available for both Pulaski Company and Scott Company at the current year-end. Pulaski Company Scott Company Total assets $ 2,260,000 $ 1,129,000 Total liabilities 899,000 593,000...
- Q Cerein Altampt in Progress Cick here to vien facter tibies
- Q Westerville Company reported the following results from last years operations: ...
- Q Riverboat Adventures pays $380,000 plus $14,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $54,600, a building appraised at $155,400, and paddleboats...
- Q The Happy Corporation has the following data for 2020 : Happy's 2020 operating leverage is: Select one: A. 0.50 B. 1.71 C. 4.00 D....
- Q Packaging Specialists Inc. (PSI), a calendar-year corporation headquartered in the U.S., engaged in transactions at the end of the fourth quarter of 2020 and the beginning of 2021 with Maple...
- Q Vendors are the businesses that offer credit to buy merchandise and/or assets, or credit for expenses incurred. What does it mean to use vendor credit to purchase an item? What...
- Q Elm Manufacturing Company (ELM) is a small manufacturer of back packs located in Rochelle, Illinois. They make three different types of Backpacks: ...
- Q 1. Determine the amount of value-added and non-value-added lead time and the value-added ratio in this process for an average stereo unit in a batch of 50 units. Categorize the...
- Q The demand and supply functions of a good are given by where denote price, quantity demanded and quantity supplied respectively. Find the...
- Q Benjamin and Chloe (MFJ) have pension income (fully taxable) of $50,000 and tax-exempt interest of$4,000. They also received $28,000 ofSocialSecuritybenefits. How much Social Security is taxable? Jack, head of household,...
- Q Which is the correct formula for the 60 percent personal holding company income test? PHCIAOGI AOGI/PHCI PHCI AOGI (Dividends + Interest)AOGI
- Q NoSQL databases store data in schemas. individually with key-values. in rows and columns. in classes
- Q The eight wastes of traditional operations includes all of the following except A.utilizing people to their full potential. B.defects. C.waiting. D.overproduction.
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