Accounting question and answers for November 13, 2023
- Q HORIZONTAL ANALYSIS ...
- Q Brian Jordan is interviewing for a junior equity analyst position at Orion Investment Advisors. As part of the interview process, Mary Benn, Orions Director of Research,...
- Q A single taxpayer, Damien, had the salary of $88,000, loss of $76,000 on the sale of 1244 stock acquired four years earlier, and worthless stock of $11,000. The stock...
- Q On a statement of sources and application of funds is the depreciation expense normally shown as an increase or decrease to operating income
- Q Which of the following would be considered a relevant fixed cost in making a special order decision? Unavoidable fixed costs associated with current business....
- Q Companies are required to value non-controlling interests on the acquisition date. What approaches might a company take to value non-controlling interest? [Hint: see FASB ASC 805 20-30-7], When in the...
- Q how do you treat procurement of computers being sold by your family member
- Q At January 1, 2016, Deer Corp. has beginning inventory of 2,000 surfboards. Deer estimates it will sell 10,000 units during the first quarter of 2016 with a 12% increase in...
- Q 1. assume corporation records goodwill of $18,000,000 in the current year for an acquisition made on June 30. How much if any of the goodwill is deductible in the current...
- Q Sarahs Theatrics, Inc. sells costumes and props. During May 2023, the companys employees earned $50,000. The related payroll taxes owed to governmental entities will be 9% of employee earnings. Based...
- Q Funseth Farms Inc. purchased a tractor in 2015 at a cost of $46,800. The tractor was sold for $4,400 in 2018. Depreciation recorded through the disposal date totaled $40,000. Prepare...
- Q 1- If investigative services are performed for an attest client, independence may be impaired and, if it is, threats to independence cannot be reduced to an acceptable level. a....
- Q Sophie is a single taxpayer. For the first payroll period in October 2017, she is paid wages of $2,900.00 monthly. Sophie claims two allowances on her Form W-4. a. Use...
- Q If a single taxpayer has taxable income of $120,000, how much will he save in taxes if his CPA shows him that he qualifies for an additional deduction of $4,000?
- Q s Trew Company plans to issue bonds with a face value of $904,500 and a coupon rate of 6 percent. The bonds will mature in 10 years and pay interest...
- Q List the steps that auditors need to complete to do the audit and release their opinion - be thorough...
- Q Write your answer in the space provided. 1) On the line in front of each variance, enter the letters of the items needed to compute that variance. You will enter...
- Q PLEASE DO NOT COPY AND PASTE ANOTHER QUESTIONS ANSWER. OTHER SIMILAR Q'S ARE INCORRECT/IRRELEVANT TO Q Please make a 2018 Corporate Tax Return, Will thumbs up after completed! FACTS Summer...
- Q Which of the following is the most reliable method of making budget decisions
- Q Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). The sales tax law requires Dextra to collect 10% sales tax on every dollar of...
- Q ncome Statement Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of...
- Q Classify each of the following accounts taken from Faust Companys balance sheet.
- Q How would a negative bank balance be listed in a trial balance?
- Q A company receives a 6%, 60-day note for $8,400. The total interest due upon the maturity date is: A. $110 B. $320 C. $504 D. $240 E....
- Q Which of the following concepts is being considered when a company making a capital investment decision converts all the dollar cash inflows and outflows over the life of a project...
- Q Coffee Mugs, Inc., currently manufactures ceramic coffee mugs. Management is interested in outsourcing production to a reputable manufacturing company that can supply the cups for $2 per unit. Coffee Mugs...
- Q The International Federation of Accountants (IFAC)'s evolution of management accounting portrays the changes in management accounting practices and techniques over time. Discuss the five stages of the evolution of management...
- Q Why do I offer this to you in a Paralegal Program? Because some paralegals find themselves in newer firms/sole practices and face this lack of technology. They are asked to...
- Q Post all transactions to the t-accounts and calculate ending balances. Make sure you post all transactions in chronological order. Date Accounts and Explanation Debit Credit ...
- Q Liz Stevens operates a virtual software store. Last year she paid $24,000 for software sold, had operating expenses of $6,000, gross sales of $60,000, returns of $480, and paid $3360...
- Q 1. At the end of the year, a company has a balance in Allowance for Uncollectible Accounts of $200 (credit) before any year-end adjustment. The balance of Accounts Receivable is...
- Q In tax year 2023, a married taxpayer with AGI of $300,000 had gross investment income of $6,150 (which included a long-term capital gain of $3,500 and interest income of $2,650),...
- Q The ABC Hardware Company has hired you to program its Accounts Receivable department. (A/R are accounts that owe money to the company for purchases from the company) There...
- Q The 2016 Financial Statements of BNSF Railway Company report total revenues of $19,829million, accounts receivable of $1,272million for 2016, and $1,198million for 2015.The Company's accounts receivable for the year is?...
- Q The Pacific company sells a product with a breakeven point of 3775 sales units. The variable cost is $99 per unit and fixed costs are 192,5251) determine the unit sales...
- Q Made for Each Other It was late Sunday night, and Jassir Amor was getting weary. The big presentation was set for 8 am the next day, and Jassir kept remembering...
- Q On January 1, 2018, Alamar Corporation acquired a 39 percent interest in Burks, Inc., for $228,000. On that date, Burks's balance sheet disclosed net assets with both a fair and...
- Q X purchased a computer on December 31, 2019, for $121,800, paying $34,800 down and agreeing to pay the balance in five equal installments of $17,400 payable each December 31 beginning...
- Q Is it true that Zero pollution is not an optimal level of pollition for society
- Q Comparative balance sheets for Softech Canvas Goods for 2021 and 2020 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth. ...
- Q June 2-10 large frame backcountry packs were sold to East Robson Inc. for $10,000+ GST + PST; on credit; Invoice No.1001 June 3- ...
- Q When the dividend rate on preferred stock is less than the rate of return earned on a corporations assets, it is called: A. Financial leverage. B. Discount on stock. C....
- Q Alton Company produces metal belts. During the current month, the company incurred the following product costs: Raw materials $97,000; Direct labor $58,500; Electricity used in the...
- Q How can you convert an estimate to an invoice? bokmark +New > Create Invoice from estimate Sales > All sales > Estimate block > Convert to invoice in the...
- Q Wilfred has business profits of 105,500 in 2020/21. He has no other income but does pay a gift aid charity donation of 1,200. => What is Wilfreds personal allowance for...
- Q accounting 201 comprehensive problem 1 part 7
- Q An individual had employment income in 20X7 of $50,000. He had had loss carry forward amounts of net capital losses ($20,000), non-capital losses ($22,000), and farm losses ($24,000). What maximum...
- Q Dortmund Stockyard reports $531,034 in credit sales for 2018 and $571,264 in 2019. It has a $439,539 accounts receivable balance at the end of 2018, and $425,132 at the end...
- Q Sonya Smart started her own business, Clear Sky Cleaning. She offers interior and exterior window cleaning for local area residents. Sonya rents a garage to store her tools...
- Q Depletion expense
- Q Information for Pidris Metalworks as of December 31 follows. Prepare (a) the company's schedule of cost of goods manufactured for the year ended December 31; (12 Points). (b) prepare the...
- Q Customer Angela Sosa purchased $144,789 worth of car parts with her Standard credit card. The cost to Cars Plus for the sale is $83,301. Standard credit card charges Cars Plus...
- Q Last month when Holiday Creations, Incorporated, sold 50,000 units, its sales, variable expenses, and fixed expenses were $200,000, $120,000, and $65,000, respectively. Required: What is the companys contribution margin (CM)...
- Q Abbott Landscaping purchased a tractor at a cost of $38,000 and sold it three years later for $19,300. Abbott recorded depreciation using the straight-line method, a five-year service life, and...
- Q Below is the unadjusted trial balance for Franklin Services Limited (FSL) as at its December 31, 2017 fiscal year end Franklin Services Limited (FSL) Unadjusted Trial...
- Q Use the following information to answer questions 7 & 8: Cola Co. manufactures a product with a standard direct labor cost of two hours at $24.00 per hour. During July,...
- Q Pharoah Construction Inc., which has a calendar year end, has entered into a non-cancellable fixedprice contract for $2.7 million beginning September 1, 2023, to build a road for a municipality....
- Q After-Tax Cash Flows For each of the following independent situations, compute the net after-tax cash flow amount by subtracting cash outlays for operating expenses and income taxes from cash revenue....
- Q Jean and Jim are married and file a joint return. They expect to have $415,000 of taxable income in 2016 and are considering whether to purchase a personal residence that...
- Q Financial statements for March Company appear below: March Company Balance Sheet December 31,20X6 and 20X5(dollars in thousands) 20X620X5 Current assets: Cash and...
- Q 4. Unidades equivalentes de coste de conversin (10 pts.) El Departamento de Laminacin de Fortress Ridge Steel Company tena 150 toneladas en inventario de trabajo en proceso inicial...
- Q The correlation between fraud risk management principles and the principles of internal control is documented in COSOs fraud risk management guide. Analyze how fraud risk management principles may...
- Q From the last 10-K Form for Microsoft Corp: what is the company mission? what is the company's industry? what are its primary products? what raw materials does the company use?...
- Q In the current year, Mike and Jane Smith filed a joint return. Mike earned \\( \\$ 40,000 \\) in wages and was covered by his employer's qualified retirement plan. Jane...
- Q 1. In the reporting of owners' equity, the disclosure requirement for corporations is different from the practice for proprietorships and partnerships. Explain.
- Q The following data relates to Alpha Company. Line Item Description Numerical Data Units in beginning inventory Units produced 24,000 Units sold ($250 per unit) 20,000 Variable costs per unit:...
- 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 QUESTION 8 When setting up beginning bank balance The Bank Entry type Withdrawals, must be selected ...
- Q Happy Bubbles, Inc., produces multicolored bubble solution used for weddings and other events. The company's master budget income statement for March follows. It is based on expected sales volume of...
- Q El balance general de Koehn, Incorporated, tiene los siguientes saldos: Saldo inicial Saldo final Efectivo $ 30,300 $ 32,800 Cuentas por cobrar 48,200 51,600 Inventario 126,500 129,200 Activos fijos netos...
- Q C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2,...
- Q Received cash for services to be performed in the future. Which account is debited and which account is credited?
- Q Which of the following is the best example of monitoring payment of liabilities? A : making an early payment to take advantage of cash discounts offered by suppliers B :...
- Q 3. Suppose a firm has 800,000 shares of stock currently outstanding. Each share currently has a true value of $20. Suppose the firm uses excess internal cash to repurchase 200,000...
- Q Create an Excel spreadsheet that consists of your monthly expenses. Then create a pivot table based on that data. What do you spend most of your money on? Do this...
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