Accounting question and answers for July 17, 2023
- Q when a bond is issued at a price higher than the face value When a bond is issued at a price higher than the...
- Q In steps Budgeting XY Ltd plans to sell the following: Months June July August September October Product A (units)...
- Q Directions: Bearcat, LLP is auditing Dumbledore Manufacturing, Inc. (DMI), a privately-held company, for the year ended December 31, 2019. You are the staff auditor responsible for preparing the financial statements....
- Q Using the worksheet below, determine which revenues and costs are probably differential or not differential for the decision to close the Northern...
- Q Dhaka Garments Limited uses direct labour cost as a basis for computing its predetermined overhead rate. In computing the predetermined overhead rate for last year, the company misclassified a portion...
- Q If division 1 has capital of $26,250,000, CL of $6,000.000, operating profit before tax of $2,700,000 and EVA of $270,000 and division 2 has invested capital of $3,000,000, CL of...
- Q 14.A manufacturer reports the following for two of its divisions for a recent month. \table[[,\table[[Beverage],[Division]],\table[[Cheese],[Division]]],[Average assets,$8,200,$14,800
- Q I need help with the dollar amounts each thay has a red x next to them, thank you! Required information [The...
- Q L.O. 1) Maureen Corporation reports income before taxes of $500,000 in its income statement, but because of timing differences taxable income is only $200,000. If the tax rate is 45%,...
- Q more than this amount, what is the maximum CCA that Mamie can claim for 2021 ? A. $16,000 B. $23,000 C. $46,000 D. 532,000 more than...
- Q In preparing a bank reconciliation statement for a business with a credit balance on the bank statement, the appropriate treatment for a cheque for $871 to pay an outstanding account...
- Q When an investor company owns more than 25% of the voting stock of an investee company, it has a controlling influence.
- Q Explain why the shareholders basis in the new stock received in a corporate reorganization is the value of the stock received less the postponed gain?
- Q Which of the following statements is true with regard to the contribution margin ratio? The contribution margin ratio shows how the contribution margin will be affected by a change in...
- Q Victors expects total sales of $698,500 for January and $346,000 for February. Assume that Victors' sales are collected as follows: (Click the icon to view the...
- Q A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%, $100 par, cumulative preferred stock and 50,000 shares of $10...
- Q During its first year of operations, Zhang's Electronics Incorporated completed the following transactions relating to shareholders' equity. January 5: Issued 1,800,000 shares of common stock for $33 per...
- Q Journal entry worksheet Note: Enter debits before credits. Problem 4-3B (Algo) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the...
- Q Life insurance companies are exposed to interest rate risk because they tend to maintain large, long term bond portfolios whose values decline when interest rates rise. Why do life insurance...
- Q Trade receivables arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Profit reported on the income statement for the...
- Q When IFRS uses the cost recovery method to account for a long-term contract,: A. Revenue typically is recognized in excess of costs incurred early in the life of...
- Q Which of the following statements is correct? A. Retained earnings include common stock
- Q Explain how data mining can help improve supply chain process. (Min. 70 words) Paragraph R 7 := =
- Q if i purchase 10,000 items of inventory for 550 each by cash (GST inclusive) how much is the total amount of inventory recorded?
- Q Sunshine Pty Ltd manufacturers curtains and establishes the following standards: Standard direct materials for each curtain (13 metres @$27.00 per metre) $351 Budgeted number of curtains to be produced per...
- Q fill in the missing amounts in each of the following eight case situations. Treat each case idependently. (Hint: one way to find the missing amounts would be to prepare a...
- Q Will the accounting equation hold true for every corporation? Why?
- Q 38. fixed costs are $400,000 and the contribution margin per unit is $80. what is the break even point? a.$500,000 b.$2,000,000 c. 320,000 units d. 5,000 units
- Q Marwick's Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $1,491 per unit and then sells them to retail customers for an average price of...
- Q Tax planning to determine the location new business organization discusss in details with examples please please answer as soon as posible
- Q Pup N' Suds ...
- Q Reconciling Net Income and Cash Flow from Operations Using FSET For fiscal year 2015, Beyer GMBH had the following summary information available concerning its operating activities. The company had no...
- Q Question 2 (6.25 points) ELis Listen Which of the following is a taxable benefit? Low priced meals in the company cafeteria where the prices are...
- Q Crane Company issued $527,000 of 7%,10-year bonds on January 1,2022, at face value. Interest is payable annually on January 1,2023. (a) Prepare the journal...
- Q The fixed deposit of R3 000 was invested on 1 January 20.2. This amount was increased by R3 000 on 1 July 20.2 and by a further R 3 000...
- Q Impuestos Federales 1 Sadie vendi 12 acciones a su hermano, George, por $640 hace 16 meses. Sadie haba comprado las acciones por $880 dos aos antes. Si George...
- 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 La Corporacin Grass is Greener proporciona $6,000 en cuidado del csped a cuenta durante el mes. La experiencia sugiere que alrededor del 2% de las ventas netas a crdito no...
- Q If a company is considering the purchase of a parcel of land that was originally acquired by the seller for $85,000, is currently offered for sale at $150,000, is considered...
- Q Thank in advance!! 2 Determine the recoverable amount of each of the following four assets and state the amount of any impairment loss which...
- Q Nancy Corporation agreed to sell its common stock to Eddie Corporation for five monthly payments of $100,000. Eddie Corporation made the first payment but did not make any other payments....
- Q Presented below is information related to Wildhorse Inc. Balance per books at October 31,$119,266.37; receipts $494,543.14; disbursements $469,946.59. Balance per bank statement November 30,$160,381.47. The following...
- Q Consider the following equity section of a balance sheet for a corporation. How much in total have the common shareholders contributed to the corporation in exchange for stock?...
- Q Using the Periodic Inventory Method, determine the adjusting journal entry ABC should book at the end of the period
- Q The following information is from Los Gringos Locos, Inc. 20202019Net sales$8,000 $7,600 Cost of goods sold4,125 3,900 Gross profit3,875 3,700 Selling and Administrative expenses2,100 2,025 Income from operations1,775 1,675...
- Q Hi, using the provided excel spreadsheet, prepare the calculations and costing analysis of Years 5 & 6. Please show excel formulas. Thank you. ...
- Q Question 1: During the year ended 30 June 2019, Neil, a resident of Australia, receives a $100,000 dividend franked to 100%. He has also earned bank interest of $44,500 and...
- Q Required information [The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of...
- Q Required information [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. The marketing manager believes that...
- Q compeny uses a segie lanteide faery ovenead rate for alocating overhead to tinted everteat and drect labor houns
- Q On January 1, 2018, Red Flash Photography had the following balances: Cash, $13,000; Supplies, $8,100; Land, $61,000; Deferred Revenue, $5,100; Common Stock $51,000; and Retained Earnings, $26,000. During 2018, the...
- Q Review Starbucks's 2017 financial statements and: a. Does the company use a multi-step or a single-step format on the income statement? explain. b. what was the net earnings attributable to...
- Q The primary difference between an audit of the balance sheet and an audit of the income statement is that the audit of the Income Statement deals with the verification of...
- Q At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Asset...
- Q A variety of SUTA reports need to be filed with respective state governments. Which of the following are not a type of required report: a.Partial unemployment notices. b.Wage information reports....
- Q John Company uses a predetermined overhead rate of $5 per machine hour. Estimated machine hours at the beginning of the year were 62,000 and actual machine hours at the end...
- Q The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly...
- Q Problem 12-21 Dropping or Retaining a Flight [LO12-2) Profits have been decreasing for several years at Pegasus Airlines. In an effort to improve the...
- Q Which of the following is FALSE? a. Manufacturing firms have 3 categories of inventories: raw materials, work-in-process, and finished goods. b. Merchandising firms include wholesalers and retailers. c. Inventory costs...
- Q Luthan Company uses a plantwide predetermined overhead rate of $23.20 per direct labor-hour. This predetermined rate is based on a cost formula that estimated $278,400 of total manufacturing...
- Q The bank statement for Broom Company showed a $200 bank balance at the end of April. A comparison of Broom Companys bank statement and accounting records disclosed a $40 deposit...
- Q you are going to receive a $15,000 scholarship at the end of four years for graduate school. How much must the scholarship fund invest today if it can earn 6%...
- Q anyone can help me this question? thank you very much! Exercise 8-15 Your answer is partially correct. Try again. The board of directors of Vaughn Corporation is...
- Q Using the data in the accompanying table, calculate the value of autonomous consumption. (1 Point)
- Q You are required to show a good awareness of the topics covered, including accounting records and their importance to commercial operations, source materials and their use in preparing accounts, calculation...
- Q An investment project provides cash inflows of $675 per year for 8 years. What is the project payback period if the initial cost is $1,700?
- Q Snyder's-Lance manufactures, markets, and distributes a variety of snack food products including pretzels, sandwich crackers, kettle chips, cookies, potato chips, tortilla chips, other salty snacks, sugar wafers, nuts,...
- Q Which of the following is an example of a variable cost for a firm? Property tax Insurance Rent Raw materials Machinery depreciation
- Q Eddies, a single taxpayer, has W-2 income of $40,841. Using the tax tables, he has determined that his tax liability is a. $3,016 b. $3,214 c. $4,504 d. $4,772
- Q Question 3.)Compute the ratios of long-term debt-to-book equity and long-term debt-to-market value equity in the Excel file. The ratios need to be traced to the data you collected in question...
- Q what is 2 +2
- Q Jax Co. manufactures a product called Lockdown. They currently manufacture 100,000 units per year and the normal sales price is $50 per unit. The manufacturing facility is currently operating at...
- Q White Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases...
- Q The Ivanhoe Company accumulates the following cost and net realizable value data at December 31. What is the lower-of-cost-or-net realizable value of the inventory? Lower-of-cost-or-net realizable...
- Q Multiple Choice $32,900. $30,900. $34,800. $38,900. $27,900
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