Accounting question and answers for November 11, 2023
- Q what is the importance of Budgeting?
- Q On January 1 of Year 1, Congo Express Airways issued $3,250,000 of 5% bonds that pay interest semiannually on January 1 and July 1. The bond issue price...
- Q On December 31, 2019, Richie Corporation had total assets of $35,000, of which $14,000 were current. It also had $18,000 in liabilities, of which $7,000 were current. Which of the...
- Q Discuss the importance of Earning per share
- Q The Assembly Department started the month with 17,000 units in its beginning work in process inventory. An additional 291,000 units were transferred in from the prior...
- Q Noell Corp. tiene acciones comunes de $5,000,000, utilidades retenidas de $3,000,000, ganancias no realizadas en valores comerciales de $100,000 y prdidas no realizadas en valores disponibles para la venta de...
- 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 What is the difference between an account receivable and a note receivable, & what are some common types of receivables other than accounts receivable and notes receivable?
- Q Tax Return 1-4 Jeff and JoAnn Jefferson are married and have a joint consulting business as a sole proprietorship. Below are the Income Statement...
- Q Jenna had the following transactions for 2022 (the alimony is from a 2016 divorce agreement):
- Q To be persuasive, the evidence should be _______, and ------- The use of specific evidence, e.g., when should we use physical examination or when should we use confirmation, etc....
- Q NOTE THE COURSE IS MARKETING what is the main role or roles that influencers play in the diffusion of innovation model?...
- Q The Orange County California Bankruptcy Causes and Effects Include a reference page Five references MLA or APA style Interesting and informative Use your own words
- Q An agricultural engineer, Sawsan founded a company that sells agricultural materials. And she started her business with that On January 20, 2003, she bought a shop for $ 5,000 and...
- Q The following transactions occurred during May, the first month of operations for Hunter Products, Incorporated: Issued 55,000 shares of capital stock to the owners of the corporation in exchange for...
- Q CP13-6(Static) Using Ratios to Compare Alternative Investment Opportunities [LO 13-4, LO 13-5, LO 13-6] The financial statements for Armstrong and Blair companies are summarized here: ...
- Q Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: ...
- Q during the year, Coronado Boat yard has incurred manufacturing costs of 420,000 in building three large sailboats. At year end, each boat is about 70 percent complete. How much of...
- Q What is the minimum amount of insurance coverage on an auto according to Pennsylvania Law? When selecting auto insurance, what are the key factors you should consider? Should you...
- Q After you have corrected the 3 January transaction record in MYOB, Isabella asks you to select the field(s) that MYOB allows changes to be made immediately to when users try...
- Q Evaluate the impact of the following errors on the financial statements for the year ended 31.12.20X3, the corporate income tax rate is 20%: 1. The enterprise liquidated fixed assets used...
- Q Hamza Inc. declared a cash dividend of $0.60 per share on its 1.5 million outstanding shares. The dividend was declared on August 1 and is payable on September 9 to...
- Q "1. ATM 0.05 ATM 109 ATM (4)PU04 2.401081 Poisson (4) 3.408080... 4.0.2(4) 7.7(44) 8.772015()"
- Q 1. Obtain the future value of 120 million yen two years from now. The discount rate is 7%. Use calculator. 2. Assume you obtain 500 yen each year forever. Obtain...
- Q Problem 5: A $3,600,000 contract is executed to build a service station. Total estimated costs to complete the project are $2,340,000 million. The construction company incurred the following costs during...
- Q Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget:...
- Q May is a self-employed bakery business owner. She has 3 employees. She offers medical insurance coverage to her employees. Her employees paid $25,000 toward their medical insurance premium from withholdings...
- Q Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothing while managing heat. Y-Go has become very...
- Q 1) Name two types of transactions and which side of the balance sheet they are posted? 2) An investment in the company is posted in what two locations...
- Q Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit...
- Q Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the companys costs:...
- Q Sue Company purchased a long-lived asset years ago at $3,000,000. Accumulated depreciated to date on the asset is $1,400,000. Management is contemplating disposing off the assets at $1,200,000. If...
- Q Howard specialty cooperation sales padlocks if we put an increase in sales from 3.7 billion in 2017 to 4.0 billion in 2018 and an increase in clouds profit from 1.2...
- 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 ABC. Delivery Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 120,000 miles. Vehicle no. 5 cost $45,000 and is expected...
- Q Define AAR: Then discuss how each of the following items can affect your assessment of AAR -Be specific Third Party Use of Financials Possibility of Financial difficulties...
- Q In establishing financial accounting standards, two basic premises of the IASB are (1) The IASB should be responsive to the needs and viewpoints of the entire economic community,...
- Q As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000, and $150,000,...
- 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 Cornerstone Exercise 11-20 Determining Net Cash Flow from Investing Activities Davis Inc. reported the following information: 12/31/2019 12/31/2018 ...
- Q An industry consists of two firms. These two firms agree to merge with each other, but the merger is subject to review by the Competition Bureau of Canada. An analyst...
- Q Case 18-1 Coffee Co. Coffee Co. (the Company) is a global distributor of organic coffee beans and teas that is registered with the SEC in the United States. The Companys...
- Q Landor Appliance Corporation makes and sells electric fans. Each fan regularly sells for $32. The following cost data per fan is based on a full capacity of 157,000...
- Q Sumon Enterprise purchased a factory machine at a cost of Tk. 17,000 on January 1, 2020. Its set-up cost was Tk. 1,000. It expected the machine to have a salvage...
- Q The following trial balance was extracted from the books of Mandlacoal Ltd (Mandla), a manufacturer of charcoal for the year ended 30 June 20.20: ...
- Q Problem 8-19 Calculation of Gain or Loss, Installment Sales (LO 8.8, 8.10) Steve Drake sells a rental house on January 1, 2022, and receives $100,000 cash and a note for...
- Q Which of the following is not a use of the statement of cash flows? a.Helps creditors analyze the company's operations. b.Provides information about the sources of cash flows. c.Measures how...
- Q The following information is for Uptown Corp beginning balance retained earnings $12,400 total expenses $3,000 Dividends $2,130 ending balance retained earnings $24,500 calculate net income for Uptown Corp.
- Q Kearney, Inc., makes kitchen tools. Company management believes that a new model of coffee grinder would sell well at a price of $74.25. The company estimates unit materials costs to...
- Q 1. Define the net present value (NPV) rule. 2~4 sentences with equation. 2. Define the internal rate of return (IRR) rule. 2~4 sentences with equation. 3. Define the capital asset...
- Q A machine costs $980,000 to purchase and will provide $200,000 a year in benefits. The company plans to use the machine for 13 years and then will sell the machine...
- Q The income statement for James Company showed cost of goods sold of $90,000 and operating expenses of $62,000. The comparative balance sheets for the year show that inventory decreased $4,000,...
- Q At the end of the current year, Accounts Receivable has a balance of $600,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and net sales for the year...
- Q The following information relates to Culver Corporations transactions during 2020, its first year of operations. 1. Income before income tax on the income statement for 2020 was $57,000. 2. Income...
- Q Yang Corporation manufactured 85,000 units during October of 2019. The following fixed overhead data pertain to October. Actual Budgeted Production 85,000 units 100,000...
- Q Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit...
- Q Need A Master Budget In The Form Of An Excel Spreadsheet Containing All The Data
- Q Which of the following correctly describes the impact of collecting cash from customers for services to be provided in the future?
- Q LO1,2 The Complete Accounting Cycle Without a Work Sheet: Two Months (second month optional) P10.On June 1,2014, Bob Lutz opened Lutz Repair Service. During...
- Q Eklavya Products, a small manufacturer, has submitted the items below concerning last year's operations. The president's secretary, trying to be helpful, has alphabetized the list. ...
- Q Steinberg Company had the following direct materials costs for the manufacturing of product T in March: Actual purchase price per pound of direct materials $ 7.80 Standard direct materials allowed...
- Q Im not sure we should lay out $265,000 for that automated welding machine, said Jim Alder, president of the Superior Equipment Company. Thats a lot of money,...
- Q Relevant Range and Fixed and Variable Costs Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 61,600 to 100,800 memory chips per year. Within this range,...
- Q Your Manager, knowing your are currently taking a Financial Accounting course, asked you to perform the following task: a) Explain to the team what Lower of cost or Market/net realizable...
- Q When preparing a clients tax return they informed you that they had taken an overseas trip for business purposes and on the basis of it being a legitimate expense the...
- Q Identify the financial statements that must be presented for a government hospital
- Q For a cost to be relevant, it must be: Multiple Choice a. neither a differential cost nor a sunk cost. b. a differential cost and a...
- Q QUESTION 1: A furniture making business manufactures quality furniture to customers orders. It has three production departments and two service departments. Budgeted overhead costs for...
- Q 10) The sales budget for Modesto Corp. shows that 20,600 units of Product A and 22,600 units of Product B are going to be sold for prices of...
- Q Harriman Company authorized a $1,000,000, 5-year, 6% bond issue dated January 1, 2019, when the market rate was 8%. Annual interest will be paid each December 31. On...
- Q Select an industry of your choice. Explain a product it would produce that could be accounted for using a job-costing system. What are 2 variable costs for the process? What...
- Q Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of General Mills, Inc. Income Statement, Fiscal Years Ended...
- Q Starfax, Incorporated, manufactures a small part that is widely used in various electronic products such as home computers. Results for the first three years of operations were as follows (absorption...
- Q Allowing credit cards, returns or discounts for early payment affects the recording of Blank______. Multiple choice question. net sales revenue unearned revenue prepaids cost of goods sold
- Q heffield Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the companys bikes....
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