Accounting question and answers for November 11, 2023
- Q Multinational corporations are particularly affected by the range of environmental factors and accounting systems in the different countries in which they operate. Discuss some of the issues that MNCs are...
- Q Jamison Company had sales revenue and operating expenses of $4,800,000 and $4,050,000, respectively, for the year just ended. If invested capital amounted to $5,800,000, the firm's ROI was:...
- Q Discuss why using financial accounting information for managerial decision-making may lead to distorted decisions (please use specific examples to illustrate your points and limit your answer to 600 words or...
- Q Mgmt Accounting Qusestion 1) Provide two reasons why traditional costing systems tend to under-estimate the cost of low-volume, complex products and over-estimate the cost of high-volume, simple products. 2) Outline...
- Q Policy Year Cash Value PaidUp Face Value Extended Term ($100,000 face value) 1 $0 $0 5 $6,500 $7,950 6 years; 142 days 10 $14,250 $17,225 13 years; 75 days...
- Q Petteway Corporation has two divisions: Home Division and Commercial Division. The following report is for the most recent operating period: Total Company Home Division Commercial Division ...
- Q during the current year the cost of direct materials purchased by a manufacturing firm was 340,000 and the direct materials inventory increased by 65000. what was the cost of direct...
- Q Outside of payroll, inventory is a very large expense for firms. Identify and discuss at least three things you can do to ensure that processing inventory transactions are handled efficiently...
- Q XF Ltd. Is an expanding private company in the electric trade. Accounts preparing in January 2019 included the following information: Profit Statement for the year ended 31st December ...
- Q For the payback period, simple rate of return, net present value and internal rate of return capital investment analysis methods what are the criteria to accept an investment? Why are...
- Q Special Rules for High-Income Taxpayers (LO 6.8) Rachel is single and has wages of $180,950 and dividend income of $108,570. She has no investment expenses. Calculate the amount of the...
- Q The owners paid $2,500 for website advertising. They were able to get a good deal because one of the company's owners also owns stock in the website company. The owners...
- Q Blossom Corporation earned net income of $390,000 in 2020 and had 115,000 common shares outstanding throughout the year. Also outstanding all year was $810,000 of 10% bonds that are convertible...
- Q Christopher is a self-employed cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Calculate the after-tax cost of each payment assuming Christopher has...
- Q You have been asked to prepare the financial statements for Computer Solutions for the year ended December 31,2022. The following additional facts are collected for use in ...
- Q QUESTION 1 Value stream costing eliminates most of the transactions associated with conventional cost accounting because it ......
- Q 3. Accounting.. How does depreciation impact financial statements, and what are the different methods of depreciation?
- Q Peace Corporation acquired 75 percent of the ownership of Symbol Company on January 1, 20X1. The fair value of the noncontrolling interest at acquisition was equal to its proportionate share...
- Q Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liquid assets $ 4,070 Investment assets $ 8,540 Current liabilities $ 2,470 Household assets...
- Q KPIs are used both in the balanced scorecard framework and BPM. True False
- Q The local supermarket is considering investing in self-checkout kiosks for its customers. The self-checkout kiosks will cost $46,000 and have no residual value. Management expects the equipment to result in...
- Q Could you describe in detail the primary characteristics for governmental and not-for-profit entities? How does this differ from the primary characteristics for business organizations? Please, explain how budgetary accounting contributes...
- Q A business collected $450 from a customer for an outstanding accounts receivable. By mistake the transaction was recorded as debit to Cash for $550 and a credit to accounts receivable...
- Q What are activity cost pools? Select one: a. They represent the revenue that the business generates from providing goods and services b. They represent the cost of activities in businesses...
- Q Use the information below to answer the required question INFORMATION XUZ Ltd purchased a building on 1 October 2021. The following costs were incurred: Original purchase price R4 620 000...
- Q Explain the following: How does valuation affect assets? Give two examples of asset valuation accounts. How does valuation affect liabilities? Give two examples of liability valuation accounts. Further...
- Q Builder Products, Inc. manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, cooking, is given below for May: ...
- Q Kleen Company acquired patent rights on January 10 of Year 1 for $504,000. The patent has a useful life equal to its legal life of eight years. On January 7...
- Q Cost allocation is often the centerpiece of conflict that is resolved in court cases. The litigation usually involves the dispute over how costs are allocated to a product...
- Q A consumer products company reported a 5.4 percent increase in sales from 2014 to 2015. sales in 2014 were $29,600. in 2015, the company reported cost of goods sold in...
- Q What does absolute level refer to? A. Fair salary B. Base salary C. Competitive salary D. Experience salary
- Q Benton County includes an independent school district and two individually chartered towns within the County. Benton County's Treasurer assesses and collects property taxes on behalf of itself, the school district,...
- Q wholesale for $10.00 per toy into the new year: September October November December January Sales Dollars $8,000 12,000 18,000 14,000 6,000 nw Units 800 1,200 1,800 1,400 600 Cash sales...
- Q Journal entries for the second year of operations?
- Q Quatro Co. issues bonds dated January 1, 2019, with a par value of $400,000. The bonds annual contract rate is 13%, and interest is paid semiannually on June 30 and...
- Q Explain the difference between traditional and activity-based cost management systems. "A cost can be variable or fixed depending on the time horizon." Do you agree? Explain....
- Q Which of the following are examples of subtopics in the FASB codification? Select all that apply. Broad transactions Presentation Assets Industry Revenue
- Q Robb Company purchased equipment on July 1, 1993, for $72,000. The equipment was expected to have a useful life of 4 years and a residual value of $3,000. ...
- Q What is the nominal rate of interest compounded quarterly if the effective rate of interest on an investment is 6.8%?
- Q Giorgio Italian Market bought $10,600 worth of merchandise from Food Suppliers and signed a 90-day, 8% promissory note for the $10,600. Food Supplier's journal entry to record the sales transaction...
- Q Name three (3) different companies with which you are familiar, preferably in different industries. By different industries I am talking about a manufacturer, retailer, a service business like a hair...
- Q As part of the continued advancement of technology, a drone camera market has emerged in recent years. The drone camera market has been growing as more photography...
- Q n chapter four, we covered inter-company accounting transactions as they pertain to merchandise, plant assets, notes, and inter-company long-term construction contracts. Select one of the topics, and explain in 200...
- Q McKnight Company is considering two different, mutually exclusive capital expenditure proposals. Project A will cost $519,000, has an expected useful life of 12 years, a salvage value of zero, and...
- Q Zoe received 200 NQOs (each option gives her the right to purchase 10 shares of stock for $5 per share) at the time she started working when the stock price...
- Q Subjective measures can be observed and objective measures require judgment on the part of the evaluator. Question 47 options: A) True B) False
- Q Brenda plans to reduce her spending by $90 a month. What would be the future value of this reduced spending over the next 8 years? (Assume an annual deposit to...
- Q Coronado Corporation issued 1,900 $1,000 bonds at 103. Each bond was issued with one detachable stock warrant. After issuance, the bonds were selling separately at 97. The market price of...
- Q On October 10 Maxwell Inc. acquired a piece of equipment by exchanging 1,000 shares of its $5 par value common stock. The asset had a list price of $10,500 and...
- Q according to Ian Redpath and chris Province, which of the following is correct regarding alternative alterative tax credit for corporation in tax years ending in 2019? A) They can be...
- Q Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The companys balance sheet as of June 30th...
- Q On December 1, 2024, the company paid a local radio station $2,280 for 30 radio ads that were to be aired, 10 per month, throughout December, January, and February. Prepaid...
- Q The capital cost of a property is $5900000. A CCA rate of 20% is applied. The tax rate is 30%. Take five years of depreciation. If the property is sold...
- Q Albert is the owner of Pavilion Construction Company, operated as a sole proprietorship. In 2022, Albert sold the following business assets: Asset Original Cost Tax Depreciation Amount Realized on Sale...
- Q klumber corporation is a diversified manufacturer of instustrial goods. the company's ABC system has the following six acitivity cost pools and acitivty rates:
- Q Which of the following statements regarding closing overapplied manufacturing overhead to cost of goods sold is strue? A. Cost of goods sold will decrease B. Cost of goods sold...
- Q calculate the present value of a cash inflow of $500 in one year, and a cash inflow of $1000 in 5 years, assuming a discount rate of 15%.
- Q the issue price is the price the stock initially sells for the first time it is sold true or false
- Q Type of speech - increase the federal minimum wage Topic Minimum Wage General purpose to persuade- create, change,or reinforce attitudes, values, beliefs, and behaviors. ...
- Q Earning before tax = 30% from Net sales, company is relying on equity which is means interest =0 . inventory = 4000000 net sales= 48000000. operating expense =5% of gross...
- Q Describe the SWOT analysis for Ebay.com
- Q Midwest Fabricators Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost of $94,000 with a $8,000 residual value and a five-year life....
- Q Calculate the current year (2021) depreciation for the following asset. Machinery (7-year property) purchased on 6/30/2020 for $22000. This was the only asset purchased in 2020. No bonus depreciation or...
- Q Double Company produces three products DBB-1, DBB-2, and DBB-3 from a joint process. Each product may be sold at the split-off point or processed further. Additional...
- Q Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1,2017. The annual reporting period ends December 31. The...
- Q need help with the analysis only The trial balance of Pacilio Security Services, Inc. as of January 1, Year 11, had the following normal balances. ...
- Q Ann item of equipment acquired on January 5, 1990, at a cost of $32,500, has an estimated residual value of $2,500 and an estimated useful life of 10 years. Depreciation...
- Q To record the deposit of cash sales for the month: Select one: O a. decrease expenses, increase revenues b. increase revenue, increase cash c. increase...
- Q 5
- Q On January 1, a company issues a $100,000, three-year note that pays 9% interest annually. The market rate on the note is 6%. How much of the note premium should...
- Q In your own words, explain why and how an employee would: request additional tax deductions at source apply for a reduction in tax deductions at source
- Q Calculate the future value of each of the following items. Round all to nearest whole number. b. $5,000 received at the end of each year for the next ten years...
- Q Pizza Palace only sells Pizza Packages for 150.00 each. They are a Pizza Catering Operation. Un-jumble the following income statement and answer the questions...
- Q Differentiate between the methods of appraising public sector projects and private sector projects.
- Q Information from the financial statements of ABC Corporation for year 2021 included the following: Common stock outstanding as of January 1: 100,000 shares Employee stock options, exercisable during...
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