Accounting question and answers for November 10, 2023
- Q Crest has an ending finished goods inventory policy of 30% of the next month's sales needs. September 1 inventory is projected to be 7,900 units. Each finished unit requires 2...
- Q The following is Addison Corporations contribution format income statements for last month. The company has no beginning or ending inventories. A total of 10,000 units were produced and sold last...
- Q Phil took $60,000 coronavirus -related distribution from his qualified retirement plan in 2020 choose and chose to recognize the income over the maximum period of time. What is the amount...
- Q Using the data in the nonadjacent ranges B4:E4 and B10:E10, insert a Line with Markers chart. Position the upper left corner of the chart slightly inside the upper left corner...
- Q How can accounting transactions or errors affect the notes to the financial statements, and what specific disclosures or information may need to be included in these notes to provide a...
- Q please double check the answers are correct i dont think they are, also fill in the explanation column for each row and show calculations for numbers 1-5.In 2022,...
- Q show all formulas and work thanks Strausberg Incorporated is considering investing in a project that would require an initial investment of $270,000. The life of the project would...
- Q Which of the following statements is correct? A. The preparation of managerial accounting information is not bound by Generally Accepted Accounting Principles. B. Managerial accounting systems provide information primarily used...
- Q 1- ) XYZ Inc. borrowed $200,000 from its bank by signing a 10%, 15 years note payable in January. The note calls for 180 monthly payments of $2,000. Each payment...
- Q Carson has a health savings account (HSA). Which of the following are qualified medical expenses for his HSA? Nutritional supplements, vitamins, herbal supplements, and natural medicines. A weight-loss program as...
- Q For the year ended December 31, 2022, Settles Incorporated earned an ROI of 9.2%. Sales for the year were $13 million, and average asset turnover was 2.3. Average stockholders' equity...
- Q Finding a risk about the shipping process, and a state a detective and preventive control
- Q The regression equation is = 29.29 0.96X, the sample size is 8, and the standard error of the slope is 0.22. What is the critical value to test...
- Q Viola is a general partner who owns 50% interest in Barron enterprises. Vijay is a limited partner who owns 50%. The partnership has $60,000 in recourse liabilities and $35,000. In...
- Q Numbers Ltd sells accounting software. Each unit has a selling price of $200 and variable costs of $50. Fixed costs are $11,000. How many units must Numbers Ltd sell...
- Q During the current year, merchandise is sold for $45,870,000. The cost of the merchandise sold is $33,026,400. a. What is the amount of the gross profit? b. Compute...
- Q Estimate the average by first rounding to the nearest 100: 120,230,455,175
- Q Alton Corp. purchased ten $1,000 44% bonds of SolarSolar Corporation when the market rate of interest was 12%. Interest is paid semiannually, and the bonds will mature in five years....
- Q Emrald Corp currently uses a manufacturing facility costing $470,000 per year; 88% of the facility's capacity is currently being used. A startup business has proposed a plan that would utilize...
- Q Prepare a statement of stockholders equity. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid,...
- Q Christopher is a cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Next to each item, indicate the amount that would be...
- Q Bay Path Hardware provides the following information relating to its June inventory activity. Hahn uses a perpetual inventory system. Date Transaction Units Unit Cost Total Cost 1-Jun Inventory 13...
- Q List and explain key fundamental and basic features of the 3 key financial statements. Why does the question indicate 3 versus 4 key statements? Of the 4 major statements, which...
- Q In its first month of operations, Whispering Winds Corp. made three purchases of merchandise in the following sequence: (1) 320 units at $4, (2) 420 units at $6, and (3)...
- Q How would I calculate the stock value of a company using this formula? I am confused on where to find common stock value, retained earnings per share and present value...
- Q Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in...
- Q Brief Exercise 19-7 NoFly Corporation sells three different models of a mosquito zapper. Model A12 sells for $60 and has variable costs of $38. Model B22 sells for $110 and...
- Q Jonathan and Emily Berry grew up watching their grandmother make the best chocolates at Christmas using an old family recipe. They had a vision that they could mass-market these chocolates,...
- Q Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate...
- Q FFF, Inc. owns a machine that it uses in manufacturing a product. The original cost of the machine was $600,000. It has a current book value of $200,000. The machine...
- Q Linville Falls Corporation provides the following information: Net Sales $800,000 Gross Profit $320,000 Income from Operations $100,000 Net Income $40,000 What are Operating Expenses? O...
- Q A company collects $1,500 of rent from a tenant at the end of the year. The company invests the rent money in an investment earning 4% interest peryear. Assuming a...
- Q So far we have examined the four financial statements: Income Statement, Statement of Stockholders' Equity, Balance Sheet and Cash Flow Statement. Briefly discuss the four statements. Which is the most...
- Q What must be demonstrated in order for a third party to be successful in suing an auditor for negligence? Select all that apply. there was a breach of the duty...
- Q Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $250,000, $308,000, and $411,000, respectively. The...
- Q The manager of the department notices that there was an unfavorable materials price variance and an unfavorable materials quantity variance for the month of June when reviewing the activities of...
- Q 2. Light Corporation purchased two new delivery vans for $85,000 on December 31, 2019. Light Corp paid $10,000 and signed a $75,000, 5-year, 12% note for the balance. The note...
- Q Question 17 Classic Floors has the following inventory data: July 1 Beginning inventory 30 units at $6.00 5 Purchases 120 units at $6.60 14 Sale 80 units ...
- Q During the current year, merchandise is sold for $119,400 cash and $450,700 on account. The cost of the goods sold is $433,300. What is the amount of the gross profit?...
- Q Is Taxes on Factors building fixed, vamiable or mixed cost
- Q X Company currently buys 8,000 units of a part each year from a supplier for $8.00 each, but it is considering making the part instead. In order to make the...
- Q 12/31/2022 includes the following accounts: Inventory 120,000, Buildings 207,000, Accumulated Depreciation - Depreciation 19,000, Equipment 190,000, Land Held for Investment 46,000, Accumulated Depreciation - Buildings 45,000, Land 71,000. Prepare a...
- Q The IRS will allow Bob to take which of the following actions in claiming the foreign tax credit? A Claim an unused deduction in a carryback year. B Claim a...
- Q Question 1 How can you compare the percentage rate of change in accrued expenses payable with percentage rate of change in revenue? Explain with the help of an example. Wbat...
- Q Although depreciation is a non ash expense, it does have an indirect effect on cash flows because it shelters an equal amount of income from income taxes. What is this...
- Q Referring to Case Study 2 for Gifts Galore, Inc.: If Line 1 of Schedule L is reduced by $10,000, reducing total assets to $101,063, what entry on Form 1120-S page...
- Q 7) Ben is on a business trip for his employer. He rents a vehicle and is driving around the city. While driving, he answers a cell phone call from his...
- Q Which of the following fund types does not report the payment of bond principal as an expenditure? a. Special revenue fund b. Enterprise fund c. Debt service...
- Q On April 1, C.S. Lewis Company borrows (Notes payable) $60,000 from Lyon National Bank by signing a 24 month 6% note. Prepare the journal entries to record: ...
- Q Protecting the IT resources, ensuring the reliable and continuous operations and developing a disaster recovery plan are all aspects of: Select one: corporate governance. IT management. IT governance. managing risk.
- Q which of the following is s potential tax imposed at the s corporation entity level
- Q Prepare a Balance Sheet using the following information: Gross fixed assets $40,000 Cash $18,000 Other cash $ 5,000 Accumulated Depreciation $ 30,000 Common Stock $ 43,000 Short-term notes payable $...
- Q Detailed solutions please Christine has inherited $1 million. She has decided to use herinheritance to purchase one of the following. a. A 30 year annuity immediate with annual payments of...
- Q On January 1, 2017, Breguet Company, a calendar-year corporation, purchased 600 of the CHF1,000 face value, 9% bonds of Clariant Incorporated, for CHF600,000. The bonds, which mature on January 1,...
- Q Chapter 12 of the materials covers the concept of revenue and I wanted to talk about gift cards. Has anyone worked at a place that offered gift cards? As you...
- Q Comprehensive Problem 1 Part 10: The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each...
- Q In 2020, Oscar Co. purchased a piece of business-use equipment for $1,000,000. The equipment has a 7-year MACRS GDS recovery period and is depreciated under MACRSGDS (no SL election). The...
- Q Costs from Beginning Inventory Costs from Current Period Direct materials $6,000 $27,100 Conversion costs 5,200 156,600 At the beginning of the period, there were 400 units in process that were...
- Q Sandhill Corporation had 2020 net income of $1.6 million. During 2020, Sandhill paid a dividend of $3 per share on 84,000 preferred shares. Sandhill also had 200,000 common shares outstanding...
- Q What are the three groups of possible differences between pretax financial income and taxable income?
- Q $900 of supplies have been used during the month.
- Q a gift that might be viewed as a future interest in a trust can be treated as a present interest gift if.
- Q On January 1, 2018 Casey Corporation exchanged $3,300,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary...
- Q A nonprofit collects recyclable bottles. When someone brings in a bottle the nonprofit gives the individual the 5 cent deposit. The nonprofit then washes the bottle and returns them to...
- Q Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $243,000, $307,000, and $429,000,...
- Q What are two methids to reduce the execution time for a query in Tableau?
- Q Identify and cite Internal Revenue Code sections and legal court rulings that determine whether an Individual Retirement Account can invest in artwork such as paintings and sculptures
- Q Which of the following are disadvantages of the evolutionary solver? It does not deal well with complicated It does not perform well ...
- Q Which option on tableau Clou or Tableau Server allows you to manage your subscriptions?
- Q How does New York State alert taxpayers to this?
- Q Tropical Fruit Partnership is a calendar year general partnership with the following current year information: Operating loss $(4,950,000) Liabilities: Note payable, Big Bank 495,000 Note payable, Pineapple...
- Q Total Cost Method of Product Pricing Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and selling...
- Q What are your estimates of the firms cost of equity, debt capital, and overall cost of capital? Which valuation method (DDMV, FCFEV, FCFV) and growth pattern (stable, 2-stage) would...
- Q Fenton has a health savings account (HSA). In 2021, he took a $2,000 distribution from the account to make a down payment on a car. What penalty will Fenton incur?...
- Q c. On April 1, the cash account balance was $15,280. During April, cash receipts totaled $232,260 and the April 30 balance was $11,000. Determine the cash payments made during...
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