Accounting question and answers for November 13, 2023
- Q Hong Kong Tax Framework
- Q Brief Exercise 12-1 Rihanna Company is considering purchasing new equipment for $531,200. It is expected that the equipment will produce net annual cash flows of $64,000 over its 10-year useful...
- Q Our company has received a boat order. An advance of 30000 TL for the boat, which will be completed in two years, has been deposited by the company that placed...
- Q Which of the following accounting literature is not included in the FASB Accounting Standards Codification? AICPA Statements of Position. FASB Statements. Accounting Research Bulletins. Statements of Auditing Standards
- Q Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2019 follow: Finished Components ...
- Q Timmer Corporation just started business in January. There were no beginning inventories. During the year, it manufactured 11,100 units of product, and sold 8,700 units. The selling price of each...
- Q formal report on new cell phones
- Q Dempsey Railroad Co. is about to issue $252,000 of 7-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such securities is 12%. Click here...
- Q what is the main tax advantage of the corporate form of organization?
- Q Note: I want a detailed clear answers please The Mexton Machines Company was founded in the 1950's on an old RAF airfield in the East Midlands of England. Originally, the...
- Q Emily Lee grew up in Vancouver and loves to be a tourist in her own city. In order to make money to pay for university, she opened...
- Q Explain how revenue affects the statement of financial position?
- Q The Pym Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning 730 units @ $65 per...
- Q Hemal Thomas is an employee in British Columbia. The net pay calculation is for the first bi-weekly pay of 2022. The employee is 32 years old and...
- Q In light of the market-to-market accounting that enabled Enron to basically record any profit it wished to record, can you understand why some of the cornerstones of financial accounting...
- Q Equivalent Units and Related Costs; Cost of Production Report; Entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the...
- Q Porter proposes three generic competitive strategies: Cost Leadership Differentiation Focus Comment on which of the three strategies Uber might pursue given itss current market position, competitive scope, and concerns of...
- Q The company purchases supplies for $2,500 for cash. The entry will be
- Q Perform library and Internet research on a recent fraudulent financial reporting case. :
- Q ABC plc is planning to buy a machine which will cost 900,000 and which is expected to generate new cash sales of 600,000 per year. The expected useful life of...
- Q A payday loan company charges 5 % interest for a two-week period. What would be the annual interest rate from that company? (Assume an even 52 weeks per year and...
- Q 20. A company may purchase a noncontrolling interest in another firm in a related industry: a. to house excess cash until needed). b. to generate earnings c. for strategic reasons...
- Q Company A has the following information: Inventory Increase During Year: $5,000 Prepaid Expenses Increase During Year: $4,000 A/R Increase During Year: $2,000 A/P Increase During Year: $6,000 Net Income: $10,000...
- Q In January, A and B contribute cash equally to form the YZ Partnership. A and B share profits and losses in a ratio of 75% to 25%, respectively. This year,...
- Q Why is the appropriateness of audit evidence obtained by the auditor important in forming an audit opinion? Describe the qualities information should have to be considered appropriate by the auditor.
- Q Strategic Fundraising Strategy- Effective Relationship Building. What are three primary strategies about raising funds locally that you can apply to an effective annual giving plan.
- Q Potaw Company reported the following data at the end of 2016: Sales revenue (70% on credit) $370,000 Expenses (27% on credit) 67,000 Accounts receivable, net at December 31, 2016 (a...
- Q I am looking for topics for an accounting theory research paper. I have thought of: Working Capital - Accounts Receivable - Credit Quality and Allowances. Please give me a couple...
- Q Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 34,000 Rets per year. Costs associated with this level of...
- Q Crane Company bought equipment for $ 630000 on January 1 , 2016. Crane estimated the useful life to be 5 years with no salvage value , and the straight -...
- Q which of the following is correct regarding depreciation of vehicle that is utilized 75% for business use in year one and 45% business use in year 2
- Q Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,700,000 par value, mature in four years, and pay 6% interest semiannually on June 30 and December...
- Q If top management determines that the company will not provide a defined practice if the cost of providing the defined practice outweighs the perceived benefits and strategic risk, how can/should...
- Q For each of the following transactions: a. Identify the fund in which the entries are recorded. b. Prepare the necessary journal entries. Only make the entries for the Fund-Based Financial...
- Q For firms using the complete equity method, the controlling interest in consolidated net income will always be equal to A. the net income reported by the parent B....
- Q Make a list of ALL the loss exposures you can identify associated to the steps in the flowchart provided
- Q Sunland, Inc. is a calendar-year corporation. Its financial statements for the years 2018 and 2017 contained errors as follows: 2018 2017 Ending inventory $8850 overstated $24000 overstated Depreciation expense $6000...
- Q CBA is a division of Flynn, Inc. The division manufactures and sells a pump that is used in a wide variety of applications. During the coming year, it expects...
- Q Using the data given in Exercise 25.5, would you recommend closing Department 1? Why or why not
- Q Harley Inc. factors $500,000 of accounts receivable to Davidson Co. which assesses a 3% service charge. Prepare the journal entry that Harley Inc. makes when factoring these receivables.
- Q Which of the following statements correctly describes the relationship between expected postretirement benefit obligation (EPBO) and accumulated postretirement benefit obligation (APBO)? Select one: a. EPBO can be less than or...
- Q Sanford Company The Sanford Company had the following balance sheet as of December 31, 20x2. The transactions for the first three months of 20x3 are also presented along...
- Q Sneathen Company purchased a restaurant building, land, and equipment for $600,000 cash. The appraised value of the assets was as follows: Land $ 66,000 Building 231,000 Equipment 363,000 Total $...
- Q Revenue is recognized based on a five-step process that is applied to a company's revenue arrangements. Requirements: Revenue is usually recognized at the point of sale (a point in time)....
- Q Question 1:- a) list down the advantages and disadvantages of NPV method. (4 each) b)Briefly write three factors that NPV technique takes into consideration in its analysis.
- Q The basic accounting equation and the element that make up the equation The expanded accounting equation Explain how they work together.
- Q Brief Exercise A-11 Robben Company is considering investing in an annuity contract that will return $35,500 annually at the end of each year for 19 years. Click here to view...
- Q On January 1, 2019, Pearson Co. started the year with a $492,000 balance in Retained Earnings and a $605,000 balance in Common Stock. During 2022, the company earned net income...
- Q Using the data given would you recommend closing Department 1? Why or why not
- Q Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified...
- Q At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $12.8 million. $9.8 million of the purchase price was allocated to the building. Depreciation for 2014 and 2015...
- Q What would the salaries of factory maintenance employees be classified as? -direct labor. -indirect labor. -period cost. -manufacturing overhead
- Q 1.The shareholder's equity section of a consolidated statement of financial position shows the shareholder equity attributable to the parent Answer: True or False 2. Only the...
- Q Which of the following is true about managerial judgment? a. It does not consider a managers past experience and observation. b. It is based on mixed costs only. c. It...
- Q Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for...
- Q Transactions for the month of June were: Purchases Sales June 1 (balance) 3100 @ $3.00 June 2 2300 @ $5.30 3 8700 @ 2.90 6 6300 @ 5.30 7 4700...
- Q Xavi sells seashore paintings. His annual Fixed Costs are $600 and the Variable Costs are $5 per painting. If Xavi sells his paintings for $15, and sells 50 paintings per...
- Q what are the fixed cost variable cost, semi variable cost and sunk cost for oil and refinery sector companies like HPCL, IOL etc?
- Q Sales $ 705,000 Cost of goods sold 133,000 Gross margin 572,000 Selling and...
- Q You are a first-year trainee accountant at Dynamic Auditors, and part of the team currently engaged in the external audit of Hofstein Ltd, a listed company. Hofstein holds a 51%...
- Q Silver Company makes a product that is very popular as a Mothers Day gift. Thus, peak sales occur in May of each year, as shown in the companys sales budget...
- Q Barclay Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $490 and has a unit contribution margin of $200; the Adult model sells for $1,040...
- Q On January 1, 2014 the stockholders equity section of Newlin Corporation shows common stock $4 par value, $1,200,00; paid in capital in excess of par $1,016,200; and retained earnings $1,214,100....
- Q assume smart touch learning had nine tablets and it's beginning inventory, each with a cost of $260. on January 3rd, smart touch learning purchase 10 tablets at a cost of...
- Q Einstein Medallions manufactures medals made of rare and precious metals. The Platinum product line is the sole product line manufactured at the companys Yokine minting facility and...
- Q Basic eOur Company is building a project for its own use. We have been asked to calculate the amount of interest to be capitalized. 2019 Payments: Specific construction debt: 31-Jan...
- Q Gussie, a shareholder of Nitty, Inc., asks the board of directors to sue 10 of its 15 directors who she alleges have looted the corporation over the last 3 years....
- Q Explain the role of correlation in reducing risk
- Q Your friend B. Buhari has started a new business on 1 May 2024 and asked your help to record the following transaction taken place during the...
- Q Please write a paragraph about two ETHIC concerns Did key ethical questions arise during the research and, if so, how were they addressed? How could they be addressed differently...
- Q Current and projected free cash flows for Radell Global Operations are shown below. Free cash flow (millions of dollars) Actual 2016 $606.82 2017 $667.50 Projected 2018 $707.55 2019...
- Q Crane Company purchased a depreciable asset for $550000. The estimated salvage value is $26000, and the estimated useful life is 8000 hours. Carson used the asset for 1100 hours in...
- Q Carla Vista Sells two different aluminum frames. Model sells for $10 and has Variable costs of $4.00. Model Y sells for $14 and the a variable cost of $8.95. the...
- Q The approach to long- range AIS planning as described in this week 7 is important for large organizations with extensive investments in computer facilities. Should small organizations with far fewer...
- Q Real estate taxes may be deductible to the extent that they accruedA) after the decedents death B) Before the time of the decedents death C) on the date of the...
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