Accounting question and answers for November 10, 2023
- Q Sunland company completed job 45 at a cost of $43800 and later sold it for $90010 cash. Which partial entry is made when the sales takes place?
- Q List some of the differences between taxable items for New York State tax purposes and IRS tax purposes?
- Q the more common categories of diversity dealt with in organizations are subdivided
- Q At the formation of Berry Partnership, Straw contributes land with a basis of $70,000 and a fair market value of $210,000, and Rasp contributes cash of $210,000. Straw and Rasp...
- Q true or false the most common type of financial statement fraud is overvaluation of assets
- Q Which of the following describes a reporting issuer for the purposes of the audit independence standard? Select all that apply. A public company with a book value of total...
- Q Ivanhoe Company expects to produce 1,200,000 units of product XX in 2022 . Monthly production is expected to range from 89,700 to 125,700 units. Budgeted variable manufacturing costs per unit...
- Q On the first day of the fiscal year, a company issues a $8,100,000, 6%, 8-year bond that pays semiannual interest of $243,000 ($8,100,000 6% ), receiving cash of...
- Q The fair value adjustment is a ________. 1)companion account that is used with trading investments and appears on the income statement 2)companion account that is used with available-for-sale investments and...
- Q Gundy Company expects to produce 1,200,000 units of Product XX in 2017. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are...
- Q MC Qu. 61 A company's flexible budget... A companys flexible budget for 8,000 units of production showed sales, $34,400; variable costs, $17,600; and fixed costs, $17,000. The contribution margin expected...
- Q A five-year note for $4700 issued on May 1, 2017, with interest at 5.9% compounded semi-annually is discounted on January 1, 2020, at 3.5% compounded quarterly. What are the proceeds...
- Q Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory...
- Q A . Consider the 3-period binomial model with S0 = 200, u = 2, d = 1 2 and r = 1 4 . Find the current price and compute...
- Q Why do we have a gift tax?
- Q ABC Partnership had three partners, whose capital balances at June 30 were as follows: Allan $44,000, Bart $33,000 and Charles $22,000. The profit-sharing ratio is 4:3:2 (Allan, Bart, Charles). On...
- Q Your follow up post should give the highlights of Section 7703 of the Internal Revenue Code - what items found there would be important to a client
- Q At the formation of Berry Partnership, Straw contributes land with a basis of $80,000 and a fair market value of $240,000, and Rasp contributes cash of $240,000. Straw and Rasp...
- Q Land not used in operations is considered a Non-Current Investment. Select one: True False.
- Q Sheridan Tool Supply Company purchased land and a building on April 1,2022, for $362,400. The company paid $105,600 in cash and signed a 5% note payable for the...
- Q Brian and Corrine Lee are married taxpayers filing jointly. They live in the home they own, located at 3301 Pacific Coast Highway, Laguna Beach, CA 92651. Brian is...
- Q True or False: All else equal, the use of the modified accelerated cost recovery system (MACRS) versus straight-line depreciation increases the net present value of a capital budget analysis.
- Q BusinessCourse Return to course Course Content / Chapter 5/ Chapter (5) Homework 1 2 3 4 5 Show all questions on one page eBook Print Question...
- Q challenging review problem for a balanced scorecard. a hypothetical question with muiltple choice answers. proprietary.
- Q On July 1, 2018, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $778,190 in cash and equity securities. The remaining 30 percent of...
- Q If manufacturing overhead is regressed over direct labor hours, machine hours, machine setups and number of products, and we obtain the coefficients below, how much manufacturing overhead would we expect...
- Q Leo Consulting enters into a contract with Highgate University to restructure Highgates processes for purchasing goods from suppliers. The contract states that Leo will earn a fixed fee of $44,000...
- Q Explore and describe the similarities, differences, and interplay between weighted voting, fair division (if youve studied it yet), and apportionment.
- Q A firm has prepared the following binary integer program to evaluate a number of potential new capital projects. The firm's goal is to maximize the net present value of their...
- Q On the first day of the fiscal year, a company issues a $8,100,000, 10%, 7-year bond that pays semiannual interest of $405,000 ($8,100,000 10% ), receiving cash of...
- Q Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the...
- Q You have just been hired as a management trainee by Cravat sales company, a nationwide distributor of a designers silk ties. The company has an exclusive franchise on...
- Q Required: Using the information provided, prepare the 2018 federal tax return for Cal and Evann Malec. The forms that need to be filled in are as follows:...
- Q A company is able to implement one of two strategies regarding a particular product: hire a marketing firm to increase sales 19% or assign a product procurement manager...
- Q The capital investment committee of Overnight Express Inc. is considering two investment projects. The estimated income from operations and net cash flows from each investment are as...
- Q What do PRICE variances measure? Group of answer choices the difference between the price the company pays and the price its competitors pay the change in costs over...
- Q A company holds a $100,000 face value corporate bond, bought January 1, 2023, paying 3% annually on December 31, and maturing December 31, 2025. The company paid $102,884 for the...
- Q Pension data for Southeast Financial Services, Inc. include the following: Discount rate, 8% Expected return on...
- Q The Walton Toy Company manufactures a line of dolls and a sewing kit. Demand for the companys products is increasing, and management requests assistance from you in...
- Q a. The insurance payment in transaction #17 was made on September 1 and covers the one-year period ending August 31, 2023. Adjust the insurance account to properly reflect the amount...
- Q If you need to have $800 in savings at the end of 4 years, how much do you need to deposit today, assuming 5% annual interest?
- Q The following materials standards have been established for a particular product:25 Standard quantity per unit of output 8.3 grams Standard price $19.15 per gram The following data pertain to operations...
- Q A company sells smart phones for $180. The unit variable cost per phone is $22 plus a selling commission of 10%. Fixed manufacturing costs total $5,600 per month, while fixed...
- Q Record the closure of Fees income
- Q A company has a beginning inventory of $40,000 and purchases during the year of $110,000. The beginning inventory consisted of 3,000 units and 7,000 units were purchased during the year....
- Q Heads Up Company was started several years ago by two hockey instructors. The companys comparative balance sheets and income statement follow, along with additional information. ...
- Q In the first month of operations, Swifty Company made three purchases of merchandise in the following sequence: (1) 350 units at $6, (2) 440 units at $7, and (3) 210...
- Q Entries for Bonds Payable and Installment Note Transactions The following transactions were completed by Hobson Inc., whose fiscal year is the calendar year: ...
- Q McKenzie purchased qualifying equipment for his business that cost $298,900 in 2018. The taxable income of the business for the year is $79,200 before consideration of any 179 deduction....
- Q Key Information Cost Drivers Unit Measure Financial Services Patient Services Revenue Facilities Square Footage ...
- Q Beech Corporation is a merchandising company that is preparing a master budget for the third quarter. The companys balance sheet as of June 30th is shown below:...
- Q Which item is an indication of integrity under the Standards of Ethical Conduct? A. Recognize and communicate professional limitations or other constraints that would preclude responsible judgment or successful performance...
- Q Two companies A and B have the same revenues and expenses, and both are subject to taxes at the rate of 30%. The accounting Income Statement for the two companies...
- Q /Users/gonzalezbel/Desktop/Screen Shot 2023-09-20 at 1.43.16 PM.png
- Q Partnership has the following assets. The book basis and the tax basis are the same amount. cash basis 3000 value 3000 machine basis 10000 value 10000 account payable basis 8000...
- Q what is the contribution margin ratio
- Q When the auditor uses tracing as an audit procedure for tests of transactions she is primarily concerned with which audit objective?
- Q At Professor Jacks seafood cuisine, monthly fixed costs are $122,500 with a variable cost per meal of $17. The average selling price per meal is $54.00. What is the...
- Q Note COURSE IS MARKETING what is main role or roles that influencers play in the diffusion of innovation model? 700 worlds ...
- Q Barricades Corporation provided the following information for the year: Beginning BalanceWork-in-Process Inventory $27,000 Ending BalanceWork-in-Process Inventory 56,000 ...
- Q This question is for a Microeconomics Class. Please answer each part of the question in detail. Make sure to talk about the similarities and differences. Also make sure to talk...
- Q 1. Imagine you are the auditor of an organization and you find that the Trial balance of the financial year does not tally (Dr and Cr are not equal) a....
- Q The following information pertains to The Roses CC and covers questions 1 9: David and Patrick are the only members of a Close Corporation trading as The Roses CC...
- Q The firm's standard mix on inputs for a finished goods unit is 5 units of input A for 2 units of input B. The standard price for input A is...
- Q Ford and General motors 5. Which company has a higher ratio of costs, defined as cost of goods sold plus total operating expenses, to revenues? Use the two...
- Q Find the proceeds of a non-interest-bearing promissory note for $4716.71 discounted 32 months before its due date at 7.1% compounded annually
- Q do a statement of cash flows and its related discourse not report on transactions that cause an increase or decrease in cash? explain.
- Q Zahn Inc. sold 16,500 annual magazine subscriptions for $50 during December 20Y4. These new subscribers will receive monthly issues, beginning in January 20Y5. Zahn Inc. issued a $130,000, 180day, 5%...
- Q What is the market value of a stock that paid a dividend of $3.80 last year if the dividend is increasing at 10% annually and the required rate of return...
- Q Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services...
- Q MC Qu. 121 Regent, Inc. uses the following standard... Regent, Inc. uses the following standard to produce a single unit of its product: overhead $6 (3 hrs. @ $2/hr.). The...
- Q Your company just recently purchased Fiji Government Bonds to raise finance. Surprisingly, the Earnings Per Share (EPS) had increased. The Chief Investment Officer is confused and wants your advice. Advise...
- Q write The Major Financial Projections of (Mobile flower cart) project Use the Omani Riyal 1-Income Statement 2- Balance Sheet 3- Cash-Flow Statement
- Q Blue Skies Equipment Company uses the aging approach to estimate bad debt expense at the end of each accounting year. Credit sales occur frequently on terms n/60. The...
- Q The accounts payable is used to process transactions such as purchases receivables adjustments, and payment to vendor true or false
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