Accounting question and answers for July 23, 2023
- Q 1. Durante 2014, Salt-n-Pepa Inc. se vio envuelta en una disputa fiscal con el IRS. Los abogados de Salt-n-Pepa han indicado que creen que es probable que Salt-n-Pepa pierda esta...
- Q Adjustments and additional information The profit after tax for the year ended 31 July 2023 amounted to R392100. The following adjustments were made to the income and expenses...
- Q Question I: Patrick Garcia Pvt. uses an estimated overhead rate for allocating production overhead to job orders. The rate is on a machine hour basis for...
- Q On June 1, 20X4, management of Tiki Entity (TE) decides to sell its torch-making machine for $50,000. The carrying amount of the machine as of June 1 is $70,000 (original...
- Q (Fair Value Estimate) Murphy Mining Company recently purchased a quarts mine that mine that it intends to work for the next 10 years. According to state environmental laws, Murphy must...
- Q Liquidating PartnershipsDeficiency Prior to liquidating their partnership, Underwood and Russo had capital accounts of $9,000 and $32,000, respectively. The partnership assets were sold for $15,000. The partnership had no liabilities....
- Q It was discovered that, for last year, the purchasing agent purchased a lower-quality direct material from a new supplier. Assuming that the product quality has not been significantly...
- Q Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 20,000 shares of common stock authorized,...
- Q Hi-Tech Company produces widgets that cost $60 each and have a 5 percent failure rate. If 500 widgets are sold, the estimated product warranty expense would be a. $1,500 b....
- Q Give me three ways that a supervisor can perpetrate (or help perpatrate) a payroll scheme and then three ways a supervisor can avoid a payroll scheme.
- Q check the procedure for filing payroll forms like 940 and 941 etc. and discuss these here.
- Q In a job costing system, costs are accumulated in a separate Work-in-Process account for each job. Select one: True False
- Q Una empresa adquiri un terreno mediante la firma de un documento por pagar a largo plazo. Qu es el asiento del diario? La transaccin aumenta, disminuye o no tiene efecto...
- Q A.Explain, in detail, the disadvantages of traditional budgeting B.How is the value chain concept used in management accounting? Be as explanatory as possible. C.Explain in detail the main reasons why...
- Q Steve Conyers and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to Conyers of $153,450. Interest of 7% on each partner's capital balance on January...
- Q Generally, employers prefer to receive rsums ...
- Q A firm has a profit margin of 8% and an equity multiplier of 1.6. Its sales are $110 million and it has total assets of $...
- Q Which of the following is a test of controls for the transaction assertion of completeness for revenue? 1Test a sample of sales invoices for authorized customer orders. 2Review sales orders...
- Q On January 1, 2011, Chase Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $67,500 and $1,150 (credit), respectively. During the year Chase reported $141,500 of credit...
- Q which of the following shows how paying cash to reduce long - term liabilities will affect a company's financial statements
- Q On June 1, Sheridan Company Ltd. borrows $162,000 from Acme Bank on a 6-month, $162,000, 4% note. The note matures on December 1. a) Prepare the entry on June 1....
- Q The normal balance of a stockholders' equity account is a debit
- Q Glocker Company makes three products in a single facility. These products have the following unit product costs: ...
- Q One of the primary goals of constructing a frequency distribution for quantitative data is to summarize the data O by showing frequency of values that lie within a class...
- Q 3. After further discussions with your client, it turns out that she believes markets are semi-strong form efficient as it relates ONLY to stock selection, what portfolio substitution(s) would you...
- Q please answer my question with explanation. Thanks! 8 Suppose the Fed sells $5 billion worth of Treasury bonds to Barclays. Federal funds market Complete the following table showing...
- Q On January 1, 2024, Byner Company purchased a used tractor. Byner paid $4,000 down and signed a noninterest-bearing note requiring $28,000 to be paid on December 31, 2026. The fair...
- Q Can you please help me with Chapter 7 PR7-1A and B
- Q The NPV of a project would be -$53,000 at a discunt rate of 14% and +$17,000 at a discount rate of 10%.Using these figures, what is the approximate IRR?
- Q Explain the difference between management controls, which are generally the responsibility of the clients Management team and transaction controls, which are typically performed by lower-level employees.
- Q To support herself while attending school, Daun Deloch sold stereo systems to other students. During the first year of operations, Deloch purchased the stereo systems for $138,000 and sold them...
- Q Ed contracts with Nathan to kill Nathan's mother-in-law for $1,000. Which element of consideration is missing from this contract? a. All the elements of consideration are present b.Consideration wasn't a...
- Q Which of the following procedures would an auditor most likely include in the initial planning of an examination of financial statements? 1Determining whether necessary internal controls procedures are being applied...
- Q Use the information provided in QUESTION 4 to answer the following questions: 5.1 Calculate the following ratios (expressed to two decimal places) for 2022 only. Note:...
- Q What recommendations would you make to your clients to minimize gift taxes
- Q Calculate the Social Security Tax and Medicare Tax columns of the payroll register for the below-listed employees of TCLH Industries, a manufacturer of cleaning products. None of the...
- Q Question 1 The first task of John Nyamah, a newly appointed Assistant Accountant of Azadagli Municipal Assembly, is to prepare the 2022 financial statements of the Assembly in compliance with...
- Q QUESTION 2 (50 marks) (90 minutes) FAC3764 Assessment 10 Diapers Corp Ltd (Diapers Corp)...
- Q Instructions E12.5 Coburn (beginning capital. $60,000) and Webb (beginning capital $90,000) are Pripor journal entries to partners. During 2017, the partnership camed Det Income of $80,000,...
- Q James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500...
- Q Pam decides to take out a $185,000 20-year mortgage at 4.02% with monthly payments. If she puts down 15% fill in all the blanks of the amortization schedule. Show...
- Q Cajegas Trucking Services Trial Balance Additional Information 1. Provision for Uncollectible Account should be at 2% of the outstandir: receivable account. 2. Supplies actually on hand, P5,000. 3....
- Q ow method to analyze costs. Fulton's varlable cost per copy Is: (Round your final answer to 3 decimal places.) Multiple Chore $0.055 $0.066 $0.068 $0.071 None of the...
- Q Prepare provide analysis of the balance sheet, income statement and statement of cash flow including liquidity measurements and profitability measurements of the BreatheScreen case. Note: please refer the following link...
- Q Examine the impact of the Investment on the Rio Tinto investment in Turquoise Hill Resources overall accounting earnings (accretive or dilutive, and over what time period?)....
- Q Grandpa Clocks, Incorporated (GCI), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $10,500 cash plus 4 percent sales tax. The clock had...
- Q ALG company issues bonds dated january 1, 2015 that have a $100,000 par value; mature in 2 years, and pay 6% interest semiannually on june 30 and December 31. The...
- Q One way to manage an actual growth rate below the sustainable growth rate is to repurchase shares. Group of answer choices
- Q As a professional tax preparer in California, it is important that you are aware of the various changes in federal tax law, and how they relate to California law. With...
- Q Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its...
- Q Describe the application of policies and procedures to managing accounting information(150- 180 words)
- Q dont answer the 1st one answer the 2nd one only please BUILT-IN-GAINSTAX (10 Fint) Rroure: The Balance Sheet of the equal...
- Q Use 2022 tax law. 11. Sam is single, 30, and has no children. He made a salary of $250,000 with $40,000 in Federal withholding. He has the following items: Medical...
- Q Charmed, Inc. reacquired 5,000 shares of its $15-par common stock for $13/share. The debit to Treasury Stock will be a) $65,000 b) $75,000 c) $10,000 d) based on the last...
- Q Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: During the most...
- Q You plan to purchase a car for $28,000. Its market value will decrease by 20% per year. You have determined that the IRS-allowed mileage reimbursement rate for business travel is...
- Q Pearl had been asked by her boss to develop a new way to process expense reimbursements in her company. In your own words, list and discuss the steps Pearl should...
- Q Which of the following characteristics describes a defined benefit plan? a) Subject to PBGC plan termination insurance rules. b) Is depreciable in the hands of the...
- Q Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its...
- Q Buckler Company manufactures desks with vinyl tops. In 2004, a 1,000 desk production run cost for the vinyl used per Model S desk is $27.00 based on 12 square feet...
- Q An asset was purchased for $58,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000. After 2 years of straight-line depreciation, it...
- Q Why was the constitution changed to only allow Preisdents to serve a maximum of 2 terms?
- Q Required information Problem 4-25A (Algo) Comprehensive cycle problem: Perpetual system LO 4-2,4-3,4-4,4-5,4-6,4-7 [The following information applies to the questions displayed below.] At the beginning...
- Q On October 16, 2020, Pink Inc, issues a $12,000 9% 180 day note payable in exchange for cash. On what day does the note mature
- Q Ticket Inc Issued 10% bonds with a face amount of 240 million on January 1st 2016. The bonds mature in 2025 (10 years). For bonds of similar risk and maturity...
- Q Cherry Blossom Products Inc. produces and sells yoga-training products: how-to DVDs and a basic equipment set (blocks, strap, and small pillows). Last year, Cherry Blossom Products sold 18,040...
- Q Financial data for Joel de Paris, Inc, for last year follow: The compony paid dividends of $207,580 last year, The "Investment in Buisson,...
- Q The estimated litigation expense of $3890000 will be deductible in 2025 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts...
- Q A company is considering the purchase of a machine for $100,000.Buying the machine would save the company running cost of $25,000 each year for five years.At the end of this...
- Q Applecross Dental Services is investigating expanding its operations by acquiring additional teeth cleaning equipment. The equipment would cost $154,000 and management has estimated that it would result...
- Q Glocker Company makes three products in a single facility. These products have the following unit product costs: ...
- Q Complete this question by entering your answers in the tabs below. Compute the price-earnings ratio for each company using these data. Note: Round your answers to...
- Q Yvette Bradbury is an account representative at Commerce Savings Bank, earning $60,000 annually, paid semimonthly. She contributes 3 percent of her gross pay to her qualified 401(k) plan on a...
- Q The recording of cash receipts to the cash account will be done by debiting the account
- Q FIFO, LFO, Average Cost ( 25 points) Lester Company sells many products. Huckleberry is one of its popular items. Below is an analysis of the inventory...
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