Accounting question and answers for November 14, 2023
- Q Elyctric Company reports a $2,850,000 monthly payroll. Payroll income taxes average 20% for federal income taxes. The company is also responsible for federal unemployment taxes. The federal unemployment tax rate...
- Q Which of the following is not a cash outflow? Select one: a. Increase in stock b. Increase in Prepaid expenses c. Increase in account receivables d. Increase in account payables
- Q A distribution channel for the sale of imported Italian leather shoes includes a manufacturer, a distributor and a retailer. The retailer sells the shoes to his consumers for $121 a...
- Q Cornell Terc Enterprises had the following accounts and normal balances listed on its December 31 adjusted trial balance: Service Revenue, $ 21,300 ; Salaries Expense, $ 7,200, Rent Expense, $...
- Q On January 1, 2018, Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zees acquisition-date fair values, Jay concluded that the carrying value of...
- Q The characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts is called Group of answer...
- Q Exercise 16-16B Direct: Cash flows from operating activities LO P5 The following income statement and information about changes in noncash current assets and current liabilities are reported. SONAD COMPANY Income...
- Q Goliath Supplies Inc. (a C Corp) reports total net income of $500,000 in 2020. This includes $25,000 of income from 3.00% Jackson County municipal bonds (muni bond interest is not...
- Q ABASTECIMIENTO VS AGOTAMIENTO: EL DILEMA DE LA GESTIN DEL INVENTARIO EN UNA CLNICA MVIL En noviembre de 2021, Clara Hartono acababa de comenzar su pasanta de seis semanas...
- Q Cmo debe revelarse el monto de los intereses capitalizados en las notas a los estados financieros? Cmo deben contabilizarse los ingresos por intereses provenientes de fondos excedentes invertidos temporalmente...
- Q 11. Consider the partially completed one-way ANOVA summary table. What is the mean sum of squares within for this ANOVA procedure? 1 Click the icon...
- Q The Board of Directors of ABC Corporation, by a vote of ten in favor and one against, declared due and payable all unpaid subscription to the capital stock. The lone...
- Q Calculate the amount paid out for company tax.
- Q Which of the following factors assist employers in determining employee pay rates? (You may select more than one answer. Single click the box with the question mark to produce a...
- Q The ledger of Mai Company includes the following accounts with normal balances as of December 31: Retained Earnings $10,200; Dividends $1,400; Services Revenue $25,000; Wages Expense $14,400; and Rent Expense...
- Q Al calcular las EPS diluidas, cul de los siguientes valores en la estructura de capital aumenta el nmero promedio ponderado de acciones ordinarias en circulacin sin afectar la utilidad neta...
- Q Item Prior year Current year Accounts payable 8,194.00 7,850.00 Accounts receivable 6,014.00 6,578.00 Accruals 1,028.00 1,437.00 Cash ??? ???...
- Q Francis Bellamy Company had the following four inventory purchases in June: Beginning Inventory 150 units $1,500 June 10 200 units $2,200 June 15 200 units $2,400 June 28 200 units...
- Q Balanced Scorecard + Lean Consider the following (fictional) balanced scorecard developed for CPA Australia: Financial Strategic objective Measure...
- Q Answer was not shown on the other question.
- Q Martin and Eleanor divorced in 2015 after 20 years of Marriage. Their son, Carter, livrf with his mom and visited his dad on weekends and certain holidays, Elinor signed a...
- Q Suppose Nanovo decides to do the major expansion. If investors are not expecting this expansion, and if they agree with the forecasts above, how will the share price change when...
- Q When Julia is a risk-neutral owner of a firm that manufactures and sells a single product. She is considering hiring Willie to work at her firm as a sales manager....
- Q A machine cost $1,218,000 on April 1,2020. its estimated salvage bakue is 145,200 and ite expected life is 4 years. a) calculate the depreciation expense by straight line foe 2020....
- Q A single taxpayer who makes $40,739 per year in gross employment income has an 17 year old son who has a mental infirmity (but is not eligible to claim the...
- Q Special Order Flying High Airlines needs a special order of 500,000 gallons of jet fuel from Energy Source, a local supplier which Flying High usually does not do business with....
- Q On December 31, Pacifica Inc., acquired 100 percent of the voting stock of Seguros Company. Pacifica will maintain Seguros as a wholly owned subsidiary with its own legal...
- Q the table below presents the calculated ratios of X LTD Ratio 2023 2022...
- Q Jack and Mary, a married couple, report taxable income of $280,000, which includes $200,000 from Jack's solely owned S corporation. The S corporation paid wages of $100,000 to employees (which...
- Q Martinez Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020. Amortized cost...
- Q Los pasivos corrientes son obligaciones cuya liquidacin se espera razonablemente que requiera el uso de activos corrientes existentes o la creacin de otros pasivos corrientes dentro de a. Un...
- Q Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the inventory on November 30 and (b) the cost of the goods sold for November. Nov....
- Q during 2024, a company sells 21 units of inventory. The company has the following inventory purchases for 2024 Jan 1 beginning inventory 13 units $50 unit cost Sept 8 purchase...
- Q Loveday Ltd owns all of the shares in Laurel Ltd. Loveday Ltd sells plant to Laurel Ltd for $65,000. On the date of sale, the plant had a cost of...
- Q Brian Bently owns and operates a retail store that specializes in sports car accessories. He opened this store on September 1, 2020. The name of the store is Bently Automotive....
- Q Question Content Area A machine with a cost of $120,000 has an estimated residual value of $15,000 and an estimated life of 5 years or 15,000 hours. It...
- Q Grady opera un negocio de mantenimiento de csped utilizando el mtodo de acumulacin. Estima que el 5 por ciento, o alrededor de 2.500 dlares, de las facturas de sus clientes...
- Q How has recent U.S. trade policy and tariff changes affected the world of accounting?
- Q 1. Define accounting and Date. Page No. discuss its objectives
- Q difference between accelerated depreciation and straight-line method
- Q The following information relates to Product Alpha. Selling price per unit $100 Variable cost per unit $56 Fixed Costs $220,000 Budgeted sales are 7,500 units Required:...
- Q E2-15 (Static) Analyzing the Effects of Transactions Using T-Accounts and Interpreting the Current Ratio as a Manager of the Company LO2-4, 2-5 Higgins Company began operations last year. You are...
- Q Aspen Technologies has the following budget data: Estimated direct labor hours 15,000 Estimated direct labor dollars $90,000 Estimated factory overhead costs $198,000 If factory overhead is to be applied...
- Q A, What factors create a balance sheet (or translation) exposure to foreign exchange risk? How does balance sheet exposure compare with transaction exposure? (150 words) B,What is hedge accounting? (150...
- Q Your company generates and sells electricity. Your budgeted fixed costs are 14.1 million for next year. Your budgeted variable costs are 25.00 per megawatt hour. Your budgeted selling price is...
- Q On January 1, Microsoft Corp. issues 10 bonds with a 3-month term. The bonds have a stated rate of 12% and a face value of $1,000. Interest is paid...
- Q Raw material purchases are paid as follows: 50% in the month of the purchase, 30% the month after the purchase, and 20% in the second month following...
- Q Short Problems Respond to following problems (7.5 points each) 1. In its first three years of operations, Vaden Corp. experienced the following income/(losses):...
- Q The factors which may influence management accounting practices of companies and identify one management accounting theory in explaining how that factor can influence management accounting practices of companies. 10 marks...
- Q Western wear iNC a clothing manufacturer.began the year with $28,231 in raw material inventory . They had purchases of $64,211 during the year. Labour's costs were $128,450 overall $87,360 of...
- Q 1. Journalize the following selected transactions for January. Explanations may be omitted. Jan. 1 Issued common stock in exchange for $14,000 cash. 2 Received cash for providing accounting services, $9,500....
- Q Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $800,000. The estimated market values of the purchased assets...
- Q Williams Products Inc. manufactures and sells a number of items, including school knapsacks. The company has been experiencing losses on the knapsacks for some time, as shown by...
- Q Turner Company uses activity-based costing. Two of Turner Company's production activities are spinning and molding. Assume the company estimates manufacturing overhead costs to be $20,000 per month for spinning and...
- Q Sandhill Co. both purchases and constructs various equipment it uses in its operations. The following items for two different types of equipment were recorded in random order during the calendar...
- Q Implica emplear el poder de los accionistas para influir en el comportamiento corporativo, incluso a travs del compromiso corporativo directo (como la comunicacin entre inversores y empresas sobre cuestiones ambientales,...
- Q The machine originally had an estimated useful life of 9 years, but after 3 complete years, it was decided thatvthe original estimate if useful life should have been 13 years....
- Q To begin a lawsuit, the _________________ files a ______________________in the court that has _______________________ over the matter. The ____________________ must receive a copy of the complaint. The defendant...
- Q In its notes to the financial statements, what criteria does P&G use to recognize revenue?
- Q The standard cost of Product B includes 2 units of direct materials at $5 per unit. During June, 17,080 units of direct material were purchased and used at a cost...
- Q Mercer Asbestos Removal Company removes potentially toxic asbestos insulation and related products from buildings. There has been a long-simmering dispute between the companys estimator and the work supervisors. The on-site...
- Q Different management levels in Bates, Inc., require varying degrees of managerial accounting information. Because of the need to comply with the managers' requests, four different variances for manufacturing overhead are...
- Q In 2023, Hiram, 15 and a dependent of his parents, had earned income of $514 and interest income of $8,193. Hiram's parents are in the 35% marginal tax bracket. Hiram...
- Q A company showed the following pattern of sales, bad debt expense, and net receivables for 20x1 through 20x5 (in $ millions): 20x1 20x2 20x3 20x4 20x5 Sales........................... $140 $150...
- Q King Mattresses sells both mattress sets and bed frames. Last quarter, total sales were $50,000 for mattress sets and $30,000 for bed frames. Return on investment (ROI) was...
- Q For a 24-year-old taxpayer with two dependents who is qualified to use the filing status of "head of household," what is the California AGI that will cause him to be...
- Q Who is responsible gor the preparation and filing of a decedents final tax return when the decedent dies testate( with a will) ?1) decedents spouse 2)competent and availsble personnsl representative...
- Q B. Exact Interest Method Principal Rate Time Interest 1 810 7.5% 14.98 2 6% 105 Days 25.3 3 11,400 5% 1 Month 4 875 120 Days 17.26 5 2,400 7%...
- Q a soccer club (A) is going to lend (paying loan), for one year, a young striker to another club (B). The young striker, at that time, is still under contract...
- Q which taxpayer would be allowed to deduct vehicle expenses on form 1040 using the standard mileage rate?
- Q Tami Tyler opened Tamis Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on...
- Q When do you put parentheses ( ) around a number?
- Q A company had net income of $209100. Depreciation expense is $27200. During the year, Accounts Receivable and Inventory increased $17000 and $42300, respectively. Prepaid Expenses and Accounts Payable decreased $5300...
- Q Solomon, Inc. is preparing budgets for the quarter ending Sep 30. Budgeted sales for the next five months are: Jun...
- Q Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during the first quarter of the year (...
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