Accounting question and answers for November 11, 2023
- Q 3. Accounting.. How does depreciation impact financial statements, and what are the different methods of depreciation?
- Q You estimated a firms value of operating assets to be $400 million. The companys balance sheet shows $20 million in short-term investments that are unrelated to operations. The balance sheet...
- Q Suppose a commercial bank has checkable deposits of fifty thousand and the legal reserve ratio is ten percent if the banks required an excess of reserves are equal, then it's...
- Q The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $29,250 and investments of $72,000. In addition, it holds a...
- Q ABC Company stock price is at $500 per share. ABC is considering a small stock dividend and a stock split. For each of the scenarios below, assume there are 200,000...
- Q What is the effect of the closing entries on the adjusting entries
- Q Simon corporation issued $50,000 of his 12% bonds payable on March 1, 2023 the bonds were issued at face value interest is payable semi annually on September 1 and March...
- Q Tang Inc. fue autorizada a emitir 1.500.000 acciones ordinarias de valor nominal de 1.000 yenes el 31 de diciembre de 2017, la empresa haba emitido 240.000 acciones por ganancias de...
- Q Adam Fleeman, a skilled carpenter, started a home improvement business with Tom Collins, a master plumber. Adam and Tom are concerned about the payroll taxes they will have to pay....
- Q Leonardo, que est casado pero presenta una declaracin por separado, gana $80,000 de ingreso imponible. Tambin tiene $15,000 en bonos de la ciudad de Tulsa. Su esposa, Theresa, gana...
- Q Find Exxon Mobile Corp income statement and Cash flow statement and fill in the spreadsheet. Consolidated Statement Of 12 Months Ended Income - USD ($)...
- Q Prepare the journal entry to record Tamas Companys issuance of 6,500 shares of $100 par value, 9% cumulative preferred stock for $105 cash per share.
- Q Exercise 11-5 Profit allocation in a partnership LO3
- Q Mick formed a new business
- Q Which of the following is NOT a reason why individuals are commonly organized into departments? a. Function. b Technology c. Geography d. Product
- Q How will Artificial Intelligence affect/impact auditing?
- Q Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $24,000 from County Bank and paid interest of $1,440. Lionel used...
- Q Using the information in this case study, identify the ethical violations committed by Ernst & Young, and evaluate the implications of these actions for the accounting profession
- Q Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Work...
- Q Discuss the recognition criteria, measurement and disclosure requirements of a provision, in your discussion also define liability and provision
- Q At 31 December 2022 a company's trade receivables totaled RM860,000 and the allowance for doubtful debts was RM40,000. It was decided the debts totaling Rm30,000 were to be written off....
- Q Dunbar Footwear Corporation's flexible budget cost formula for supplies, a variable cost, is $2.67 per unit of output. The company's flexible budget performance report for last month showed a $9,604...
- Q Un costo de oportunidad: Es un costo inevitable porque sigue siendo el mismo independientemente de la alternativa elegida. Requiere un desembolso actual de efectivo. Resultados de decisiones...
- Q Income after tax of 30% was P35, 000, the variable cost ratio is 60%. How much is the fixed cost if the margin of safety was 40% of sales? PLEASE...
- Q What is the difference between financial accounting and management accounting?...... @@@@@@##
- Q 1- What do you think about Adobes pivot to a subscription-based revenue model? What is more important, short-term profit vs. long-term sustainable growth? 2- Do you think that stock market...
- Q May 1- Opening Inventory 200units at $5.5 per unit May 6- Purchases 60 units at $ 6 per unit May 10- Sales 170 units...
- Q Feather Friends, Incorporated, distributes a high-quality wooden birdhouse that sells for $80 per unit. Variable expenses are $40.00 per unit, and fixed expenses total $180,000 per year....
- Q 8. ANLISIS DEL EQUILIBRIO Suponga que vende pizzas a $6. Sus costos fijos (alquiler, salarios, servicios pblicos) son $4800/mes. Los costos de alimentos y otros costos variables son...
- Q Mercedes Company acquired patent rights on January 1, 2019, for $59,500. The patent has a useful life equal to his legal life of 20 years. a. Determine...
- Q Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,755,000. Harding paid $840,000 and issued a note payable for the remainder of the cost....
- Q Sales and Marketing Glow products are sold to retailers for $50 each, and the sales have been in demand due to Covid-19. However, the marketing department...
- Q Computer equipment was acquired at the beginning of the year at a cost of $63,000 that has an estimated residual value of $3,000 an an estimated useful life of 5...
- Q What are macro ethical theories, and how do they inform moral and ethical judgments made by corporations concerning natural rights and distributive justice? Use concrete examples to support your discussion
- Q Hi-Tek Manufacturing Inc. fabrica dos tipos de componentes industriales: el B300 y el T500. A continuacin se muestra un estado de resultados de costos de absorcin para el perodo...
- Q William has just won the Flyball Lottery. He has two options for receiving his prize. The first option is to accept a $126,000 cash payment in the 20th year. William...
- Q If the totals of the adjusted trial balance Debit and Credit columns are equal, but the post closing trial balance does not balance, what is the likely cause of the...
- Q WoodGrain Technology makes home office furniture from fine hardwoods. The company uses a job-order costing system and predetermined overhead rates to apply manufacturing overhead cost to jobs. The predetermined overhead...
- Q Hagerup Inc. is considering a new project. The initial cash outflows are $18,000. The Company believes the project will yield cash inflows of $4,320 in year 1, $6,480 in year...
- Q Following is a random list of some of the accounts and their balances on October 31,2023, for Kaomi Products. Kaomi uses a perpetual inventory system, and all account...
- Q WesternGear.com is expected to have operating losses of $350,000 in its first year of business and $270,000 in its second year. However, the company expects to have income before taxes...
- Q Market value includes all of the following EXCEPT: Question 6 options: 1) The transaction is at arms length, with buyer and seller not knowing each other 2) The property was...
- Q Giannini Incorporated, which produces and sells a single product, has provided the following contribution format income statement for March: Sales (5,000 units) $ 290,000 Variable expenses 175,000 Contribution margin 115,000...
- Q suppose there was a deposit-in-transit on the year-end bank reconciliation that was not received by the bank by the cutoff date. Discuss the possible causes of this, and discuss the...
- Q During 2018, Karan acquired the following assets for use in her sole proprietorship: Asset Cost Date Place in ServiceComputers & Info. System $400,00003/31/2018Assembly Equipment1,200,00008/15/2018Warehouse 700,00011/13/2018 a. What is the maximum...
- Q Compute the capital transfer tax that would be payable assuming Mr. Monametsi is deceased now Details of Mr. Monametsis assets and liabilities were as...
- Q Green Technologies is a leading global end-to-end technology provider, with a portfolio of hardware, software and service solutions. In a recent annual report, the balance sheet included...
- Q 8. Frankie's Dogs, Co. provided the following information for the current period: Sales $56,200 Selling and Administrative expenses $5,900 Finished Goods Inventory, beginning balance $19,900 Finished Goods Inventory, ending balance...
- Q 1.> La cuenta comercial est preparada para saber: Seleccione uno: a. Situacin financiera de la empresa b. Ganancia o Prdida Neta del negocio C. Beneficio...
- Q Marlene's employer provided her with a variety of benefits during 2020. Her employer paid for group term life insurance coverage of $125,000 (the premium for the coverage was $587). They...
- Q Which of the following benefits cannot be excluded as a no-additional-cost service fringe benefit? Multiple Choice Free tax return preparation from a client. Complimentary dry cleaning...
- Q If the total cost of producing fifteen thousand units of output is eighteen thousand and the output sold to customers for a total of twenty four thousand then the firm...
- Q Asset Efficiency Ratios Selected financial statement numbers for Rutherford Company follow. Net sales $250,500 Cost of goods sold 179,000 Average accounts receivable 20,730 Average inventory 4,145 Average property, plant, and...
- Q Cul de los siguientes no se publica diariamente cuando se utilizan diarios especiales? aUna transaccin que involucra a un cliente bUna transaccin ingresada en la columna Otras cuentas...
- Q On May 12 Zimmer Corporation placed in service equipment (seven-year property) with a basis of $220,000. This was Zimmer's only asset acquired during the year. Calculate the maximum depreciation expense...
- Q Project UAVEV is a small-scale contract producer and seller of microchips for unmanned aerial vehicles (UAVs) and electric vehicles (EVs). The master budget will detail each quarters activity and the...
- Q Which of the following best describes the similarity matching approach to data analytics? A. An attempt to assign each unit (or individual) in a population into a few categories. B....
- Q The following condensed income statement is for Boston Inc. Boston Inc. Income Statement Years ended December 31, 2017 and 2016 (in thousands) 2017 2016 Net sales $ 25,000 $18,000 Cost...
- Q Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the JT Partnership. The journal entry to record the transaction for the partnership is:
- Q HELP advance Accounting 12th edition Problem 8-4 (LO 2) Worksheet, subsidiary stock sale with parent purchase, intercompany merchandise. On January 1, 2016, Mitta Corporation acquires a 60% interest (12,000 shares)...
- Q discuss the recognition criteria, measurement,and disclosure requirements of a provision, in your discussion also define liability and provision
- Q Treasury stock is reported in the stockholders' equity section of the balance sheet. True False
- Q Bhandari Corporation borrows $400,000 from a bank on July 1, 2023. The loan has a 8% annual interest rate, and both interest and principal will be repaid when the loan...
- Q 1. Microsoft announced a 2 for 1 stock split. Before the split they had 5.4b shares outstanding and par value was $0.0000125. Before the split the balance in the common...
- Q Mientras examinaba la informacin de los recibos de efectivo, el departamento de contabilidad determin la siguiente informacin: saldo de caja inicial $160,00, efectivo disponible $1.125,74 y ventas en efectivo por...
- Q Where in the financial statements you can quickly see what form of organisation does the business take?
- Q If you think sales tax isn't being calculated correctly, which 2 of these should you verify? 1.That the tax is being calculated on the customer's area code 2.That a...
- Q Prior to closing entries, Ellie's Bakery has a $240,000 credit balance in the Retained Earnings t-account and $10,000 debit balance in the Dividends t-account. Ellie's reported net income of $30,000...
- Q The objective of financial statement audit The three major categories of assertions The difference between reasonable and absolute assurance The management responsibility and the auditor responsibility The various management...
- Q c code: all the info is given(nothing else) Background A local zoo, thanks to a new breeding program for endangered species, has successfully birthed...
- Q Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Delmotts purchases of Xpert snowboards during September. During the same month, 101 Xpert snowboards...
- Q Adam James y Jane Smith son socios. La entrada para distribuir una prdida neta a ambos socios es A. dbito, Adam James, Dibujo; dbito, Jane Smith, Dibujo; crdito,...
- Q Johns Smoothie Stand at Utahs Wasatch Countys Demolition Derby sells bananas. If John bought 55 lbs. of bananas at $.34 per pound expecting 10% to spoil, how should he price...
- Q Adams Company owns 100% of the outstanding common stock of the Beam Company. Adams issued $800,000 of face value, 12%, 20-year bonds on January 1, 2010, for 700,000. The premium/discount...
- Q As given via the Internet, auto insurance quotes gathered online could vary from $947 to $1,558. A class 18 operator carries compulsory 10/20/5 insurance. He has the following optional coverage:...
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