Accounting question and answers for July 24, 2023
- Q Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead...
- Q Prepare journal entries to record the following merchandising transactions of Carter's, which uses the perpetual inventory system and the gross method. Hint: It will help to...
- Q a big company is expecting to make 10$ million in payments next year its holds most of its in bank accpted bills which is yirld 5% interest. transaction costs associated...
- Q How is the balance sheet linked to the other financial statements? Answers There is no link between the balance sheet and other statements, as each contains different accounts and provides...
- Q X Company is thinking about expanding the production of Product A and eliminating Product B. Expanding sales of A should result in additional firm profits of $8,000 per year for...
- Q What is the total interest (360-day year) on a $1,500, 12%, 120-day note? A.$6.00 B.$60.00 C.$180.00 D.$1680.00 E.None of the above
- Q Questions: 1. What is the net Form W-2 wages? 2. What is miscellaneous income? 3. What is Schedule B income (Interest and dividends)? 4. What is Schedule C...
- Q You had lunch at a restaurant and you paid P336 which is inclusive of 12% value added tax (VAT). a. What is the cost...
- Q Part B The audited financial statements for New Life Manufacturing for year-end December 31,2022, show an accounting profit after tax of $16,500,000 after charging the following:...
- Q Crane Company had the following inventory at December 31, 2017. Unit Price Quantity Cost NRV Desks Model 9001 71 $190 $210 Model 9002 46 280 268 Model 9003 21 350...
- Q Richard Otten is a plumber and has contacted you for some assistance in setting up a new accounting system. Richard has managed to collect enough information to create a chart...
- Q Rendezvous, Inc. has 10,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2014. There were no...
- Q A perpetuity earning 4.00% compounded semi-annually is started with a $159,000.00 investment. How much money could be regularly withdrawn from the investment every 6 months? $ Round your...
- Q Determine the MEAN, MEDIAN and STANDARD DEVIATION lunch price from the following given set of grouped data
- Q 4) Accounts receivable valued at $40,000 are sold for $38,000. How is the difference of $2,000 treated in the entry to record the sale? A. As a debit to Interest...
- Q A 5-year promissory note with a face value of $3500, bearing interest at 11% compounded semiannually, was sold 21 months after its issue date to yield the buyer 10% compounded...
- Q Presented below is the income statement of Cowan, Inc: In addition, the following information related to net changes in working capital is presented: \table[[Cash,Debit,Credit],[Accounts receivable,$12,000,],[Inventories,25,000,],[Salaries payable...
- Q 1 When should taxpayers usually submit their annual declaraticn of the total salaries and wages of their employees? o a. Befo e the first of July of each year. O...
- Q Question 6. 6. Smith reported the following for 2012. (4 pts.) 2012 Beginning market price $20.00 Average market price 26 Ending market price 24 Earnings per share: Basic 1.81 Diluted...
- Q The accounting equation is the Alpha of Accounting rules. As the junior accountant at the stationery shop, Polka-Dots (Pty) Ltd....
- Q Data Sales $25,000,000 Net operating income $3,000,000 Average operating assets $10,000,000 Minimum required rate of return 25% Enter a formula into each of the cells marked with a ? below...
- Q 4. Calculate the Weighted Average Cost of Capital (WACC) for McCormick and Company using the formula WACC = (WD x RD x (1-T)) + (WS x Rs) Note that --...
- Q Question 10. 10. The following data were gathered from the annual report of Desk Products. (2 pts.) Market price per share $ 30.00 Number of common shares outstanding 10,000...
- Q The management of Penfold Corporation is considering the purchase of a machine that would cost $380,000, would last for 5 years, and would have no salvage value. The machine would...
- Q Suppose Ford Motors decides to issue preferred equity that entitles the owner of a share to a $5.00 dividend per year. If Fords equity cost of capital is 4.00%, what...
- Q Use the following adjusted Trial Balance to answer the question below: Taxes Payable 10,000 Cash 15,000 Equipment 75,000 Notes Payable 22,000...
- Q Goods sold in transit, why is the $12,000 divided by 125%
- Q Indirect Costs are: Select one: asalary costs beasily traced to a particular cost object period costs d. not cost effectively traced to cost objects
- Q Sweet Companys outstanding stock consists of 1,200 shares of cumulative 4% preferred stock with a $100 par value and 11,200 shares of common stock with a $10 par value. During...
- Q Give two examples of sunk costs, and explain why they are irrelevant in decision making.
- Q Analyze the Consolidated Statements of Cash Flows for Applied Materials for 2013, 2012, and 2011. Write a summary that includes important points that an analyst would use in assessing the...
- Q plish Corporation had income from continuing operations of $10,775,400 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $200,100. Prior to disposal, the division...
- Q Calculate Trend% and Common% 1) Analyze liquidity. 2) Analyze profitability. 3) What items in the statement of cash flows should be of concern to ABC company ABC...
- Q The budgeted direct labor hours for the T Company are as follows: First Second Third Fourth Direct Labor Hours 15,000 16,500 16,000 15,500 T Companys variable manufacturing overhead rate is...
- Q Mercury, Inc., produces cell phones at its plant in Texas. In recent years, the companys market share has been eroded by stiff competition from overseas. Price and product quality are...
- Q .P'Dim and P'Green discusses the use of cowrie shells as money. Although cowrie shells are no longer used as money, do you think other forms of commodity monies...
- Q Income LO7-2] Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $990. Selected...
- Q Ellis Company issues 8.0%, five-year bonds dated January 1,2021, with a $530,000 par value. The bonds pay interest on June 30 and December 31 and are issued at...
- Q company's gross profit was $88,890 and its net sales were $366,100. Its gross margin ratio equals: (Round your answer to one decimal place.) ...
- Q box empty; do not select any information and do not enter a zero. Abbreviations used: Disc. = Discounts, Forfeit. = Forfeited; Rec. = Receivables, Rev. = Revenue, Accts...
- Q A1A is a proprietorship that has a calendar fiscal year. The proprietorship begins operations on April 1, 2021 and acquires a machine on December 1, 2021. The machine has a...
- Q question 4.1 and 4.2 answers please
- Q Required information (The following information applies to the questions displayed below) Diego Company manufactures one product that is sold for...
- Q On January 1, 2021, Yellow Company issued a 4% $100,000 bond for $92,000. The market rate for a bond of this type is 6%. The bond pays interest semi-annually on...
- Q Need help with part two of project Uhaldjusted Trial Balance Debits Credits Adjustments Debits Credits Adjusted Trial Balance Debits Credits Closing Entry Debits Credits Post Closing Debits Credits Act...
- Q The ABC Company processes unprocessed milik up to the split-off point where two products, Condensed Milk and Skim Mikk result. Ihe roilowing information was...
- Q Alicia has been working for JMM Corp. for 33 years. Alicia participates in JMMs defined benefit plan. Under the plan, for every year of service for...
- Q Which of the following is considered a profitability ratio?: * a. Return on assets ratio b. Debt to total assets ratio c....
- Q ___is called the parent company. Question 14 options: Investee Investor Stakeholder
- Q On 1 July 20X5, Bondi Ltd gained control of Manly Ltd by acquiring 60% of its shares for $80,000. At this date, Manly Ltd's equity consisted of: share capital $70,000...
- Q Sheffiald Inc issued $2,760,000 of convartible 10 year bonds on July 1,2025. The bonds provide for 13% intarest payable semiannually on January 1 and July 1....
- Q Owl-Eye Radiologists (OR) does various types of diagnostic imaging. Radiologists perform tests using sophisticated equipment. OR'S management wants to compute the costs of performing tests for two different...
- Q Buse Corporation is investigating buying a small used aircraft for the use of its executives. The aircraft would have a useful life of 8 years. The company uses a discount...
- Q A machine costing $211,000 with a four-year life and an estimated $19,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the...
- Q Begin by identifying the accounting equation and the formula to calculate the change in the stockholders' equity during a period
- Q On July 1,2022 Crane Co, pays $18,200 to Novak insurance Co for a 4 -year insurance contract. Both companies have fiscal years ending December...
- Q what is equity definition? and difference type of equity?
- Q Marigold Corporation has temporary differences at December 31, 2017, that result in the following deferred taxes. Deferred tax liability related to depreciation difference $38,500 Deferred tax asset related to warranty...
- Q Given for E Enterprises: Budgeted industry volume in units: $5,500,000 Actual industry volume in units: $5,600,000 Budgeted market share: 16% Actual market share percentage:15% Budgeted average unit contribution margin:$2 What...
- Q Cash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense $36,200 Gain...
- Q Question 2 a) The following data of purchases and sales for the month of October 2020. Pfitzer Clan Bhd Date Purchases October Quantity No. Price per...
- Q 2. Parodies Corp. has a return on assets of 6 percent, a return on equity of 10 percent, and a dividend payout ratio of 40 percent. A. What...
- Q A debit balance in the direct labor efficiency variance account indicates that
- Q In March, Olympus Company has the following costs related to producing 10,000 units: Direct materials 60,000 Direct labour 20,000 Rent 5,000 Depreciation 4,000 Estimate variable cost per unit using account...
- Q On January 1,2021, Norwood borrows $410,000 cash from a bank by signing a five-year installment note bearing 9% interest. The note requires equal payments of $105,407 each year...
- Q 6. based on the monthly returns from 1990-2019, beta is estimated to be 1.49 (std err = 0.18) for IBM an 0.81( std err =0.14) for Asus. If these estimated...
- Q Miller Company produces speakers for home stereo units. The speakers are sold to retail stores for $30. Manufacturing and other costs are as follows: Variable costs per unit: Fixed costs...
- Q 2. Chris and Debbie borrow $10,000 at 15% compounded monthly. The loan is to be paid off with 48 equal monthly payments. One month after making the thirteen...
- Q Gambarini Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the...
- Q Direct Materials and Direct Labor Variance Analysis Information about a production week is as follows: Determine the standard cost per unit for direct materials and direct labor. Round...
- Q Complete this question by entering your answers in the tabs below. Compute the activity rate for each activity using activity-based costing....
- Q Fraud professionals in the IT audit environment need to be cognizant of the possibility that
- Q Clay says to his son, Eli, "If you rake the lawn while I am gone, I will give you $20." The next day, while Clay is fishing, Eli rakes the...
- Q Three families went out to dinner together for a soccer team celebration. They asked for separate checks, but the weather was unable to do so... ...
- Q Quick Book: Recorded the cash sales for the week for 15 hours of tennis lesson (Owner) at $25 each, 32 hours of tennis court services at $30 each, and...
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