Accounting question and answers for July 20, 2023
- Q assume the following data for alpine technologies doe the year ending July 31 20Y2 sales $900,000 estimated percent of sales expected to be refunded or issued an allowance in 20Y3...
- Q If a taxpayer business chooses not be assessed under the simplified taxation system (STS) what other methods of trading stock valuation are available to be used
- Q Prepare summary journal entries to record the following transactions for a company in its first month of operations. Raw materials purchased on account, $90,000. Direct materials used in...
- Q Assuming all else is equal, which of the following loans is most likely to have the lowest total interest cost? Secured non-amortizing loan Secured amortizing loan Unsecured amortizing loan Unsecured...
- Q Explain the main differences between a partnership and a corporation forms of an organization. If you decide to create a partnership/corporation, which form do you choose? Explain.
- Q In your own words, provide 3 methods of buying stocks, and explain the transaction in detail (provide information about the transaction, for example, if one of your...
- Q Lucky Cement has a paid up capital of 100000 ordinary shares of 1 Rs. Each and 20000, 10% redeemable preference shares of Rs. 1 each. The gross profit was 200000...
- Q Compare the pros and cons between Quickbooks and Oracle ERP Cloud. Ensure you mention all costs (training, downtime, planning, etc.).
- Q ...
- Q This is a taxation subject but chegg didn't give a "taxation" subject when picking a subject option. I just need this information above to fill out all forms listed...
- Q Empresa Gama and Empresa Sigma have investments in common shares. Gama's investment gave him the ability to exert significant influence, but Sigma's did not. Suppose conditions changed for both companies...
- Q April 1 Nozomi invested $37,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. ...
- Q (a) Distinguish between the two types of cost accounting systems. (b) May a company use both types of cost accounting systems? Give an example why or why not as it...
- Q Osborn Manufacturing uses a predetermined overhead rate of $18.90 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $240,030 of total manufacturing overhead for an...
- Q Jack Company sells its product for $11,000 per unit. Variable costs per unit are: manufacturing, $6,000, and selling and administrative, $125. Fixed costs are: $30,000 manufacturing overhead, and $40,000 selling...
- Q Assume that the following tax rates apply: Corporate Income Tax = 20%; Personal Income Tax = 25%; Dividend Income Tax = 12%. The companys Earnings before interests and taxes (EBIT)...
- Q Amount Realized and Gain Realized are interchangeable terms that have the same meaning and formula. a. This statement is true....
- Q When is actual aggregate expenditure different from planned aggregate expenditure? What happens to bring the tow back to equality? This should be a 1 - 2...
- Q Haar Inc. is a merchandising company. Last month the company's cost of goods sold was $61,000. The company's beginning merchandise inventory was $11,000 and its ending merchandise inventory...
- Q The following are selected 2014 transactions of Sean Astin Corporation. Sept. 1 Purchased inventory from Encino Company on account for $50,250. Astin records purchases gross and uses a periodic inventory...
- Q The Ramon Company designs and produces Personal Protective\ Equipment (PPE) for use in hospitals and medical offices. Below is the company's cost data\ from a 24 month period (two years...
- Q When forecasting, why would we want to use the AFN (Additional Funds Needed) equation with all industry types?
- Q On October 1, Keisha King organized Real Answers, a new consulting firm; on October 3, the owner contributed $84,000 cash. On October 31, the company ...
- Q What rules apply to the valuation of trading stock if a taxpayer is classified as an SBE
- Q fill in all yellow spaces with answer along with telling me the formula you put with the cell to solve. The L Company began operations on October 1,2023...
- Q Given the following data, please calculate the cost of food consumed in August 2021 in Feeling Good Restaurant. Ending inventory on July 31, 2021 was $2,988, purchases in August totaled...
- Q PART 1: Please indicate whether a debit or credit is needed to increase and decrease account and whether it is a balance sheet or income statement account. ...
- Q Con base en la resolucin de conflictos, responda la siguiente pregunta Ha reunido a algunos empleados en un equipo para alcanzar el objetivo de mejorar el servicio al cliente...
- Q Question Company Z rents out part of their building in a 10 year contract. Each rental payment is $20,000 to be paid at the beginning of each year. Interest rate...
- Q Using Apple Inc. most recent financial statements, what conclusions can be drawn regarding the Company's future prospects. Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except number of...
- Q On March 1st, Mr. Smithe signed up for a fitness program at Fit Co. and paid $960 for the entire program upfront. The program includes a total of 12 sessions...
- Q Effective internal control over financial reporting allows for more informed decisions by internal and external users of the financial information. (T/F)
- Q On January 1, 2020, THE Company purchased a new machine for $136,000. The machine was assigned a salvage value of $9,100 and an eight year life. Assume THE Company will...
- Q The first ______ of any amount deposited in a bank must be available to the depositor on the business day following the day of deposit.
- Q When you graduate, you decide to buy a new Honda fuel cell powered car. It cost $21,999.99. You get a loan for 5 years at 6% annual interest. What does...
- Q Wont Capital Corp declares a liquidating dividend on June 1, 2009 to common share owners of record on June 30, 2009 in the amount of $100,000. Wont Capital states that...
- Q The control environment is seen as the foundation for all other components of internal control. (T/F)
- Q Balance sheet disclosures for preferred stock include all of the following except: Select one: a. The number of shares issued. b. The number of shares outstanding. c. The liquidating or...
- Q INTRODUCTION Koss Corporation is a Milwaukee company whose principal business is the design, manufacture, and sale of stereo headphones and related accessories. Michael Koss is the CEO; his father, John...
- Q how does accounting for corporstions differ from accounting for proprietorships?
- Q A machine distributor sells two models, basic and deluxe. The following information relates to its master budget. BASIC- Sales (units 1100) Sales price per unit 9500 Variable costs per unit...
- Q THE Company reported the following selected account balances for 2021: Jan. 1, 2021 Dec. 31, 2021 Accounts payable 47,000 28,000 Common stock 100,000 187,000 Inventory 52,000 86,000 Investments 68,000 84,000...
- Q Choose one foundational principle to justify each of the following procedures and practices: The entity accrues interest income at the end of accounting periods. ( )
- Q When is actual aggregate expenditure different from planned aggregate expenditure?
- Q Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014. Compute net income for 2014. Net income
- Q Is stock better than debt as a source of financing? Why or why not? Rationalize your position in detail
- Q The total of the figures on the left side of a Cash T account is $28,800. The total of the figures on the right side is $14,700. The balance of...
- Q Assess whether Samsung could benefit by using Activity Based Costing (ABC). Your evaluation should include factor(s) that influenced your decision, the ramifications of implementing ABC in the Global smartphone...
- Q If Coronado Company issues 8000 shares of $5 par value common stock for $161000, the account: Paid-in Capital in Excess of Par will be credited for $161000. Cash will...
- Q Summary information from the financial statements of two companies competing in the same industry follows. Barco Company Kyan Company Barco...
- Q Explain how management can shift income from one period into another by using the allowance for uncollectibles account.
- Q Help Save & Exit Problem 12-23 Make or Buy Decision (LO12-3) Sub 7 Silven Industries, which manufactures and...
- Q E-commerce transactions require internet connection. Explain the requirements for internet connection
- Q 5.Parody Publishing sells Potter Harry ultimate collection book bundle at $40perbundle to the book retailers. The raw material and printing cost of one book bundle is $10. One time setup...
- Q Equipment with a book value of $79,500 and an original cost of $164,000 was sold at a loss of $34,000. Paid $109,000 cash for a new truck. Sold land...
- Q High Desert Potteryworks makes a variety of pottery products that it sells to retailers such as Home Depot. The company uses a job-order costing system in which predetermined overhead rates...
- Q Question Company Z factors $200,000 of accounts receivable with Company A. The finance charge is 2% of accounts receivable. Company A retains an amount equal to 3% of accounts receivable....
- Q In early 2017, an analyst who follows the stock of a well-known retailer was looking at a series of two-year calculations for the firms days sales in accounts receivable: 2012...
- Q Why do companies buy back outstanding shares of stock?
- Q Product costs are costs incurred (integral part) in producing a finished product. What makes product costs different from period costs?
- Q Cul de los siguientes aumentara la tasa de eficiencia? a.) Evitar averas en las mquinas. b.) Evitar paros menores de trabajo. c.) Reducir el nmero de...
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- Q Use the following 6% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.5824 8.39384 8 periods 6.2098 9.89747 9 periods 6.8017 11.49132 Swifty Corporation...
- Q Exchange Corp. is a company that acts as a facilitator in tax-favored real estate swaps. Such swaps, know as 1031 exchanges, permit participants to avoid some or all of the...
- Q What are some advantages and disadvantages of standard costing system
- Q Exercise 8-3 At the beginning of the current period, Bonita Industries had balances in Accounts Receivable of $202,700...
- Q On December 31, Westworld Inc. has the following equity accounts and balances: Retained Earnings, $45,500; Common Stock, $1,100; Treasury Stock, $2,100; Paid-In Capital in Excess of Par Value,...
- Q The following represent risk free rates of return: 5 Year Treasury Note Rate as of 12/31/09: 2.69% 10 Year Treasury Note Rate as of 12/31/09: 3.85% 20 Year Treasury Bond...
- Q please help Raptor Electronics has the following inventory schedule for its laptops. Date...
- Q It is not possible to use a discounted cash flow model to value a firm if it does not pay dividends. Question 4 options: 1) True 2) False
- Q its an accounting cycle read the last picture first, then go and read the first pic Create a T-Account...
- Q Exercise 11-9 Return on Investment (ROI) and Residual Income Relations [LO11-1, LO11-2] A family friend has asked your help in analyzing the operations of three anonymous...
- Q Need 2015 Form 8863 filled out for the following: Paul J. and Judy L. Vance are married and file a joint return. Paul is self-employed as a dentist, and Judy...
- Q Define and discuss opportunity costs and avoidable vs unavoidable costs. Why is it important to understand these terms? Provide an example of their application in an organization.
- Q Z Ltd. compr un activo fijo por Rs. 50 lakhs, que tiene una vida til estimada de 5 aos con un valor residual de Rs. 5,00,000. En la compra de...
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