Accounting question and answers for November 11, 2023
- Q Discuss the auditing process that an Auditor will need to follow to Audit anyone of the Stockvels if necessary
- Q Compute the unit cost for materials when beginning work in process is $965, current period costs are $12,835, and equivalent units for the department are 4,000
- Q Alex is a salesperson employed by Black Ltd., a Canadian-controlled private corporation. He has provided you with the following details of his income and expenses for 2023. ...
- Q Robert Kaplan has contributed significantly to the field of accounting over the past 50 years. Why Robert Kaplan has been important to accounting? Which are his most notable contributions to...
- Q Under the perpetual system of inventory, the cost of merchandise sold is only calculated periodically when a physical count of inventory is done. True False Which type of control is...
- Q Compute the deferred tax items created (if any) under each of the following scenarios. (1USD=1.24CAD and tax rate is 21%) Wintrust owns 85% of Nova Scotia bank, a Canadian subsidiary....
- Q Do you think substantive analytical procedures are an effective and efficient approach to gathering audit evidence over automotive revenues for a company like Tesla? Why or why not?
- Q Explain the measurement basis of financial statement in accordance with the IABs
- Q a firm current assets and current liabilities are 1600 and 1000, respectively.how much can it borrow on short terms basis without reducing the current ration?
- Q Which of the following does not apply to an LLC? The owners assets are sheltered from personal liability they are limited to 100 members they choose how...
- Q A shop sells soccer balls at a Selling Price of $100 per ball. TheCost per ball i 60% of the Sales Price per ball. The shop is closed during weekends....
- Q MMM company acquired 85% of the ordinary shares of CF Ltd. The net assets were fairly valued on 1 January 2021 except for machinery that were undervalued by R450 000....
- Q Wages and salaries in March were $11,500, of which $8,400 was actually paid to employees. options for account: Cash, accounts receivable, inventory, prepaid rent, fixtures and equipment, accounts payable, interest...
- Q Innovations financial statements contain the following information: Price/earnings (P/E) ratio 15 Market price per share $30 Return on ordinary shareholders equity 24% Total liabilities $300 000 Net profit margin...
- Q Why do some Countries promote the Country of Origin while others mask it? What are some examples? What are some items that the Country of Origin is important...
- Q What are some underlying issues when applying NZ IAS 19 (employee benefits) and NZ IFRS 16 (leases). Please be as specific and understandable as possible.
- Q Java Source, Incorporated, (JSI) roasts, blends, and packages coffee beans for resale. Some of JSIs coffees sell in large volumes, while some newer blends sell in very low...
- Q High-Low Method, Cost Formulas During the past year, the high and low use of three different resources for Fly High Airlines occurred in July and April....
- Q Company A sells land to Company B for $100,000. Company A takes a note from Company B that is due in two years. Assuming an annual interest rate of 5%...
- Q under the direct write off method what entry is recorded at the time an actual bad debt occurs
- Q What are the differences between cost centers, profit centers, and investment centers?
- Q which is follwing describe a taxpayer with a hoppy
- Q Herbert, Inc., acquired all of Rambis Companys outstanding stock on January 1,2020, for $642,000 in cash. Annual excess amortization of $11,200 results from this transaction. On the date...
- Q SANDHILL INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16...
- Q Problem 13-29 Outsourcing decision affected by equipment replacement LO 13-3, 13-5 Perez Bike Company makes the frames used to build its bicycles. During 2018, Perez made 24,000 frames; the costs...
- Q Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 ...
- Q For the first two weeks of , the Company had payroll details as shown below. LOADING... (Click the icon to view the payroll details.) Prepare the general journal entry to...
- Q Which of the following items would be considered factory overhead for a automobile manufacturer? Group of answer choices Wheels Wages of assembly worker Property taxes on office Property taxes on...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Summary information from the financial statements of two companies competing in...
- Q Moehrle et al. (2010) respond to the FASB regarding possible financial statement presentation changes. Evaluate their response.
- Q 17 prt9 On January 1, 2020, Blue Inc. had the following balance sheet. BLUE INC. BALANCE SHEET AS OF JANUARY 1, 2020 ...
- Q Opus Corp has decided to issue equity in order to raise capital to expand operations. The company has received approval from the board of directors to issue 100,000 shares of...
- Q RPM manufactures racks for CDs. Costs are $12.70 per rack. A wholesaler buys CD racks from RPM at $18.70 each, then sells them at $35.20 to retailers. The retailer sells...
- Q A Green Winter: The Case of Proposed Jiminy Peak Mountain Resort Wind Turbine John B. MacArthur, Ph.D., FCCA University of North Florida Thomas L. Barton, Ph.D.,...
- Q Pina Company has a stock portfolio valued at $3,400. Its cost was $2,600. If the Fair Value Adjustment account has a debit balance of $190, prepare the journal entry at...
- Q Jacob owns land with an adjusted basis of $140,000 and a fair market value of $115,000. Determine the amount of realized and recognized gain or loss to the seller and...
- Q Revenue at500units?refer image
- Q Accumulation of money to be used to pay the interest on general obligation bonds is reported: A. In a permanent fund ...
- Q The sales forecasts from the previous page has been reproduced below: Sept Oct Nov Dec Jan Sales Rev. $80,000 $100,000 $120,000 $90,000 $110,000 20% sales are cash sales. Approximately 10%...
- Q ABC LLC started its business in the year 1995 and continuing till the date. It has a common practice to record all its business transactions based on the historical cost...
- Q Why is the job cost sheet important in a job order costing system? How is it used in determining a products cost?
- Q Please difine the followingVariable cost: Variable manufaturing cost Full absorption cost Full cost Profit margin contribution margin
- Q How does an invoice affect financial statements?
- Q Sarah Smith, a sole proprietor, has the following projected figures for next year: Variable cost per unit $148.00 Contribution margin per unit $ 52.00 ...
- Q Ivanhoe Co. sold $1,830,000 of 10%, 10-year bonds at 106 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1....
- Q Alex Malak has year-to-date earnings of $67,600 and current wages of $3,718.00. Alex's 2022 OASDI withholding for the current pay period is: $fill in the blank f71ab0061faffc3_1 2022 HI withholding...
- Q A company just bought a new machine for $100,000. it has no salvage value, and a useful life of 5 years. which method of depreciation would lead to a higher...
- Q The cost of the time managers spend on an issue of securities is a direct cost of the issue and must be reported on the prospectus. ...
- Q Mac & Nac manufactures two types of women's handbags: a handbag that can be worn cross- body (model A), and an over-the-shoulder handbag (model B). Cost and...
- Q 1. Create a brief explanation of your company and product. 2. Create a JOB COST RECORD for one job in your company including Direct Materials, Direct Labor, and Manufacturing...
- Q Jimmys Repair Shop started the year with total assets of $300,000 and total liabilities of $240,000. During the year the business recorded $630,000 in revenues, $330,000 in expenses, and dividends...
- Q state and explain the steps involved in planning process
- Q Comprehensive Problem 4 Part 1: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: 1. Journalize the selected transactions. If no...
- Q which of the following statements encapsuthees key idea of persuasion
- Q Vango Industries sells two products, Basic models and Deluxe models. Basic models sell for $40 per unit with variable costs of $32 per unit. Deluxe models sell for $48 per...
- Q It costs Bonita Company $13 of variable and $5 of fixed costs to produce one-bathroom scale, which normally sells for $36. A foreign wholesaler offers to purchase 1090 scales at...
- Q Which of the following is NOT an objective when implementing cash management? Choose one. A) Assigning specific duties to each employee B) Rotating employee job assignments C) Segregating employee duties...
- Q Determine which type of merger has occurred for this scenario. GrillerTech manufactures propane grills for cooking. It wants to form a merger with Tinseltech, a party favor manufacturing company. This...
- Q Explain the conditions of listing an asset as a disposal asset
- Q during the current year, CF Manufacturing Co.incurred 370000 of indirect labor costs, 15000 of indirect materials costs, and 163000 of other overhead costs, it also incurred 125000 in rent costs...
- Q I cannot find the answer to Chapter 8 Mastery Problem in Heientz and Parry 20th edition. Accounting Please help
- Q Which of the following is not considered a component of inventory on the Balance Sheet. Cost of Goods Sold Finished Goods Raw Materials Work in Process
- Q how are we finding the adjusted gross income.
- Q On January 1, 2024, Morrow Incorporated purchased a spooler at a cost of $40,000. The equipment is expected to last eight years and has a residual value of $4,000. During...
- Q what are the pro forma journal entries to eliminate ths subsidiaries accumulated depreication using the acquisition method
- Q On March 25, 2018, Parscale Company purchases the rights to a mineral interest for $8,000,000. At that time, the remaining recoverable units in the mineral interest are estimated to be...
- Q Describe the type of departmentalization that exists in AT&Ts organizational design
- Q According to Ian Redpath and Chris Province, which of the following is correct regarding a corporations 2018 operating loss? A) it cannot be carried back but can be carried forward...
- Q 1-Understanding how the target makes decision for apple watch 2-Determining the best positioning for the brand for apple watch
- 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 Elizabeth made taxable gifts of $6,750,000 in 2019 and $8,775,000 in 2021. She paid no gift tax on the 2019 transfer. On what amount is the Federal gift tax computed...
- Q Equipment that cost $398,100 and has accumulated depreciation of $318,900 is exchanged for equipment with a fair value of $160,000 and $40,000 cash is received. The exchange lacked commercial substance....
- Q The following are the transactions of Spotlighted, Inc., for the month of January: a. Borrowed $4,399 from a local bank on note due in six months. b. Received $5,080 cash...
- Q Julio Estela started a small boat repair service company during the current year. He is interested in obtaining a $100,000 loan from your bank to build a dry dock to...
- Q Tami Tyler opened Tamis Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable...
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