Accounting question and answers for November 13, 2023
- Q In auditing the accounting payable cycle, the vulnerability will mostly come from failure to record and report some liabilities. How will the auditor go about auditing for unrecorded liabilities? -Discuss
- Q Keep-or-Drop Decision Charlevoix Company produces three products: Torch, Elk, and Walloon. A segmented income statement follows: Line Item Description Torch Elk Walloon Total ...
- Q Can you answer question 11.9 from chapter 11
- Q Use of a company gym on site (recreational facility) is: a. Not taxable b. Taxable with CPP and EI deductions c. Taxable with CPP deductions but not EI d. Taxable...
- Q A particular federal criminal status gives Nick a private right of action to sue for money damages against company A. The case will be filed in a. Federal cour of...
- Q TufStuff, Inc., sells a wide range of drums, bins, boxes, and other containers that are used in the chemical industry. One of the companys products is a heavy-duty corrosion-resistant metal...
- Q NDB granted 1000 shares appreciation rights to each of its 5000 employees on 1 july 2012
- Q Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows:...
- Q Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [The following information applies to the questions displayed below.] The following...
- Q Tram Inc. and Drury Inc. are two small manufacturing companies that are considering leasing a machine together. If Tram rents the machine on its own, it will cost $40,000. If...
- Q Please write a paragraph about two ETHIC concerns Do the data include disproportionate coverage for different communities under study? Do data have adequate geographic coverage?
- Q The comparative balance sheet of Whitman Co. at December 31,20Y2 and 20Y1, is as follows: 1 Dec. 31,20Y2 Dec. 31,20Y1 ...
- Q During the months of January, Pearson Corporation sold goods to customers. Assume Pearson uses a perpetual inventory system.. The sequence of events was as follows: ...
- Q Name the 5 requirements for a sale to be highly probable in terms of IFRS 5 (Non-current asset held for sale)
- Q The Commercial Division of Galena Company has income from operations of $166,540 and assets of $514,000. The minimum acceptable return on assets is 9%. What is the residual income for...
- Q A company that has used FIFO for the past 15 years decides to switch to moving weighted average. Which of the following statements describes the effect of this event on...
- Q An offeree is a person who makes an offer. t/f
- Q On April 17, 2018, the Loadstone Mining Company purchased the rights to a coal mine. The purchase price plus additional costs necessary to prepare the mine for extraction of the...
- Q WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $46.2 million, of which $17.4 million was allocated to goodwill. At the end of the current...
- Q Which of the following best illustrates the concept of sampling risk? Group of answer choices A randomly chosen sample may not be representative of the population as a whole (regarding...
- Q 3) Miller Manufacturing Corporation has the following information regarding direct materials: Actual pounds of direct materials purchased and used 47,000 Standard quantity of direct materials 2.5 pounds per finished good...
- Q Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $3.50 per letter. In...
- Q Need help with Priniples of Accounting
- Q The adjusting entry to accrue Interest Expense results in
- Q Provide a brief overview of the basic accounting principles used to manage petty cash?
- Q Reverend Mansfield receives an annual salary of $32,000 as a full-time ,inister. This includes $3500 designated as rental allowance to pay utilities. Rev Mansfield is not exempt from self-employment tax....
- Q Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.] The stockholders equity of TVX Company...
- Q Suppose Stuart Company has the following results related to cash flows for 2017: Net Income of $5,600,000 Increase in Accounts Payable of $600,000 Decrease in Accounts Receivable of $900,000 Increase...
- Q In the book Advanced Managerial Accounting, Robert P. Magee discusses monitoring cost variances. A cost variance is the difference between a budgeted cost and an actual cost. Magee describes the...
- Q Shown below are comparative statements of financial position for Novak Corporation. NOVAK CORPORATION Statement of Financial Position December 31 Assets ...
- Q What are the variances in selling cost and sales staff performance variations ?
- Q 1 Start Excel. Download and open the file named Excel_Project. 2 In the NOI sheet, calculate the Total Rentable Square Feet (RSF) by Unit Type in range F3:F7 by multiplying...
- Q accounting 201 comprehensive problem 1 part 7
- Q How do you do instructions 1. 2. 3. 4. ?
- Q Where did you get book value of buildings and land - 3 mil and 1 mil respectively
- Q If a company fails to make an adjusting entry to record supplies expense then
- Q Bob started a B&B business on the first day of March. He sold 10 rooms in March and earned $150 for each room. When Bob prepares his first monthly income...
- Q Hassock Corp. produces woven wall hangings. It takes 4 hours of direct labor to produce a single wall hanging. Hassocks standard labor cost is $16 per hour. During August, Hassock...
- Q Dortmund Stockyard reports $569,671 in credit sales for 2018 and $557,666 in 2019. It has a $435,144 accounts receivable balance at the end of 2018, and $443,720 at the end...
- Q coupe cabin designs and produces automotive parts, In 2020, actual variable manufacturing overhead is $343,000.
- Q Franklin Independents drove its fleet of trucks 90,000 kilometres in July, which cost $40,500 and 120,000 kilometres in August, which cost $50,400. Using the high-low method, estimate the costs for...
- Q Grove Corp. has revenues of $1,532,000 resulting in an operating income of $182,000. Average invested assets total $818,000. If sales increase by 10% and the investment level remains constant, what...
- Q Exercise 8-5 (Algo) Units-of-production depreciation LO P1 Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,300. The machine's...
- Q You are a high-priced accountant and your client, Very Rich Taxpayer retains your service to perform the following assignment. Very Rich Taxpayer has heard that 2017 Tax Cuts and Jobs...
- Q best store buys backpacks from its supplier for $257 per unit best store wants to set the selling price to allow for 33% markup on selling price(a) the selling price(...
- Q Mahogany Company manufactures computer keyboards. The total cost of producing 12,000 keyboards is $386,000. The total fixed cost amounts to $170,000. Determine the total cost of manufacturing 26,000 keyboards
- Q Company x Ltd. is applying individualized costing per work, had 2 unfinished projects on 1/1/2019. Work A (85.000) Work B (47.000) Company allocates the general industrial cost based on machine...
- Q Five fundamental principles are stated in the Code of Ethics. In your own words, briefly explain what each means and state why it is important.
- Q Process Costing Explain the difference and similarity between completed units and equivalent completed units. Star, Inc., manufactures a product...
- Q Timmer Corporation just started business in January. There were no beginning inventories. During the year, it manufactured 11,400 units of product, and sold 9,900 units. The selling price of each...
- Q Saras Studio provided $220 of dance instruction and rented out its dance studio to the same client for another $135. The client paid cash immediately. Identify the general journal entry...
- Q These are some pros and cons of ERPs: please explain each one by using two or three sentences Pros: 1. single data storage 2. integration 3. modular structure...
- Q Problem 8-42 (LO. 4) On June 5, 2019, Leo purchased and placed in service a new car that cost $75,000. The business use percentage for the car is always 100%....
- Q On December 31, 2020 ABC Parent company sold land costing SR 50,000 to its 100% owned Z Subsidiary for SR 90,000 and sold to external party for SR 100,000 in...
- Q Explore the textbook chapter(s) and related PowerPoint(s) for this Topic. What concepts associated with debt or equity investments do you expect to encounter once you start working in the profession?...
- Q Use Future Value and Present Value Tables 1. Cathy Lumbattis inherited $140,000 from an aunt. If Cathy decides not to spend her inheritance but to leave the money in her...
- Q Luis has an Adjusted Gross Income of $ 110,000 and in that same year he received an inheritance of $ 10,000. The mortgage interest paid by Luis for the current...
- Q Company A had the following information available at the end of the most recent fiscal year: Net Income $2,000 Depreciation Expense $500 A/R Increase $600 A/P Increase 400 What is...
- Q Which of the following is only filled by direct laborers? a. A materials requisition form b. A time ticket c. An activity card d. A sales receipt e. A cost...
- Q On the first day of the fiscal year, a company issues a $8,000,000, 12%, 7-year bond that pays semiannual interest of $480,000 ($8,000,000 12% ), receiving cash of...
- Q When audited financial statements are presented in a document containing other information, the auditor: Multiple Choice has an obligation to perform auditing procedures to corroborate the other information. is required...
- Q Reynolds Company experienced an accounting event that affected its financial statements as indicated below: Assets + Liab. NA Equity + Rev. + Exp. NA Net Inc. + Cash Flow +OA...
- Q Which of the following is a charitable contribution? A: Purchase of $50 worth of Girl Scout Cookies. B: Purchase of $50 worth of Raffle Tickets for the Snowmobile Club....
- Q During the current taxable year Norma paid $ 1,500 in premiums to the medical plan, $ 1,000 in prescription drugs and $ 500 in non-prescription drugs (over the counter). Your...
- Q Which of the following is not a Miscellaneous Itemized Deduction?A: Job Hunting Expenses B: Legal fees for divorce C: Tax preparation fee D: Safe deposit box fee ...
- Q What's an analysis of revenue variance? Are the various types of revenue varience ? Could it be something thats associated with ROI?
- Q BE9.8 (LO 3) Compute interest and find the maturity date for the following notes. Date of Note Principal Interest Rate (%) Terms a. June 10 $80,000 6% 60 days b....
- Q What fund is used to account for the library books owned by a university? How should depreciation of the library books be reflected in the financial statements of the university?
- Q Morning Sky, Inc. (MSI), manufactures and sells computer games. The company has several product lines based on the age range of the target market. MSI sells both individual games...
- Q High Tech Industries (HTI) is producer of biscuits and candies. It is a public company with December 31 year end. Following are the selected portions o HTI trial as of...
- Q Compare and contrast (list the advantages or disadvantages if any) the capital reduction and a share buyback.
- Q Required information Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] Use the following selected account...
- Q The following information is available for Eliza Corporation for 2023: 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement...
- Q wx Company issued $500,000, 8% bonds on January 1, Year 1. The bonds pay interest on June 30 and December 31 and mature on December 31, Year 10. The bonds...
- Q Consider the following student loan information : 16,500 at 6.2% interest, student graduates 1 year and 9 months after loan is acquired; payments deferred for 6 months after graduation calculate...
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!