Accounting question and answers for November 14, 2023
- Q Jake's Jackets manufactures winter jackets sold to retail stores for $80 each. The plant capacity is 200,000 units annually, but normal volume is 150,000 units. Unit and total costs at normal...
- Q Jake's Jackets manufactures winter jackets sold to retail stores for $80 each. The plant capacity is 200,000 units annually, but normal volume is 150,000 units. Unit and total costs at normal...
- Q A project has the following cash flows. Calculate the payback period, NPV at a 9% discount rate, and IRR.YearCash Flow (USD)0(300,000)160,000270,000380,000490,0005100,000
- Q Anna's Appliances produces kitchen appliances sold to retailers for $500 each. The plant capacity is 200,000 units annually, but normal volume is 150,000 units. Unit and total costs at normal volume...
- Q Balance Sheet Data:Assets:Cash: $90,000Accounts Receivable: $60,000Equipment: $150,000Liabilities:Accounts Payable: $50,000Notes Payable: $70,000Equity:Retained Earnings: $180,000Income Statement Data:Revenue: $300,000Expenses:Salaries: $100,000Rent: $40,000Utilities: $10,000Requirements:Prepare the balance sheet as of December 31, 2023.Prepare the income statement for...
- Q Problem 17-1A (Static) Comparing plantwide rate method and activity-based costing LO P1, P3 Craftmore Machining reports the following budgeted overhead cost and related data for this...
- Q 1) In performing substantive procedures in confirming debt all of the following audit objectives are sought except : a) existence b) completeness c) mere valuation d) cutoff 2) Which of...
- Q Blossom Company sold $6,900,000,8%, 15-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on December 31. The bonds were sold at 95. At...
- Q There is a bond on a companys books with an original term of 10 years that was purchased for a premium at its issuance, just over 2...
- Q The company sales manager belives that sales in the central georgraphic market could be increased by 15% if monthly advertising is increased by 27,000. Calculate the incremental net operatin income
- Q Using the characteristic of strategic management measurements, briefly discuss how these characteristics can guarantee the success of the partnership. 500 words
- Q does a taxpayer have taxable income from debt that was cancelled in a decedents will? A) No, but only if the amount of the cancelled debt is not more than...
- Q In 2020, Nina contributes 8 percent of her $158,000 annual salary to her 401(k) account. She expects to earn a 9 percent before-tax rate of return. Assuming she leaves this...
- Q Please include an explanation to why the option you chose is correct. Each option has an incorrect answer which I have added after the question. Thank you 1. The following...
- Q The maturity date of a note receivable: A. Is the day of the credit sale B. Is the day the note was signed C. Is the day...
- Q what are attributes?
- Q An analysis of the accounts of Crane Company reveals the following manufacturing cost data for the month ended September 30, 2020. Inventories ...
- Q 3 3 pts Use the TAccounts G for Moose Inc to create their Trial Balance as of December 31, 2022. The account numbers are in parentheses next to the account...
- Q Cul de las siguientes no es una forma comn de fraude laboral? a. Sobornos b. Hurto C. hojeando d. ...
- Q a. Bank note issued last October 1, 2019 maturing in 20 months with 3% interest ...
- Q Hamilton Township needs to make its closing entries to close out its budgetary and operating accounts. Assume that Hamilton Township has a balance remaining of $275,000 in encumbrances outstanding as...
- Q Cmo se calcula el valor presente neto cuando todos los flujos de efectivo futuros esperados son positivos? a. Valor presente de los flujos de efectivo futuros esperados menos la...
- Q Snyder Company is considering purchasing equipment. The equipment will produce the following cash inflows: Year 1, $34,000; Year 2, $38,000; and Year 3, $47,000. Snyder requires a minimum rate of...
- Q Suppose you are considering buying a house with a market price of $250,000. You plan on making a down payment of 20% and financing the remainder using a 30 year...
- Q If Total Liabilities are $2,200 and Total Equity is $3,300 then what is the value of Total Assets
- Q Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $304,000 of Fixed Overhead and had the following variances before closing entries. FOH...
- Q Field audits are the most comprehensive type of IRS examination, and these audits are conducted by highly trained IRS employees, typically with many years of experience. Which of the following...
- Q Shannon Co. has several old computers that originally cost $38,000 and have accumulated depreciation of $31,000. The old computers could be sold here in the USA for $9,000. Alternatively, they...
- Q Helen is Jarton Corporations sole shareholder and director. Each month, Helen directs Jartons bookkeeper to pay Helens personal credit card bills. What risk is Helen taking? Explain
- Q Joan, who was divorced in 2022, had filed a joint tax return with her husband in 2021. During 2021, she did not remarry and continued to maintain her home in...
- Q Following are the transactions of a new company called Pose-for-Pics. August 1 Madison Harris, the owner, invested $5,000 cash and $21,500 of photography equipment in the company in exchange for...
- Q In January 20X1, before closing the books for 20X0, you notice that the December 20X0 utility bill of $600 was neither paid nor recorded. What is the correcting journal...
- Q Grayson Enterprises manufactures springs and shock absorbers. Springs account for 40% of the company's total sales revenue, whereas shocks account for about 60%. The contribution margin ratios for springs and...
- Q Vicki's fabric Store Journalize step 1,2,3,4 Chaper 15 15-10A
- Q Decrease in payables (664 000) Cash generated from operations 12 200 000 Interest paid (3 744 000) Dividends paid ? Income tax paid (2 880 000) Cash flows from investing...
- Q Jonken co is a private company based in Kitwe. The company is considering investing into a project that will be producing belts to be sold to the...
- Q please assist with general journal
- Q Which ONE of the following would NOT be reported as a financing activity on a statement of cash flows? Amount received as new investment from stockholders Amount paid as cash...
- Q You are borrowing money to buy a car. If you can make payments of $340 per month starting one month from now at an interest rate of 9%, how much...
- Q A company showed the following information in its payroll register for the week ended March 16,2021: Deductions Pay Distribution EI Premium Income Taxes...
- Q A reversing entry at the beginning of a period for salaries would include a debit to salaries expense
- Q Where do I Find the coinsurance or calculate it ?
- Q winrow company received proceeds of $754,000 on 10-year, 8% bonds issued on January 1, 2016. The bonds had a face value of $800,000, pay interest semi-annually on June 30th and...
- Q Discuss any (3) accounting and finance regulators in Nigeria and the importance of the regulations.
- Q You are given the following information for Troiano Pizza Company: sales = $86,500; costs = $59,700; addition to retained earnings = $8,500; dividends paid = $3,620; interest expense = $3,330;...
- Q Tcnicas de valoracin Una habilidad importante para un analista financiero es comprender el impacto de los diferentes tipos de valoracin y cundo es apropiado utilizar estas tcnicas. Cul de las...
- Q Journal Entries for Accounts and Notes Receivable Pittsburgh, Inc., began business on January 1. Certain transactions for the year follow: Jun.8 Received a $32,000, 60 day, eight...
- Q You are the senior auditor-in-charge of the July 31, 20X0, audit of Reliable Auto Parts, Inc. Your newly hired staff assistant reports to you that she is unable to complete...
- Q Accounts receivable has a balance of $750,000 and the Allowance for doubtful Accounts has a debit balance of 600 at the end of the current year prior to adjustment....
- Q MRM Inc. has additional cash available for investment. One of the production machines needs to be replaced, and management is considering two options. Both options require a similar initial outlay...
- Q A taxpayer who "traded out of" a California property into an out-of-state rental property using a 1031 exchange must use Form 3840 on her California tax return for
- Q During the last accounting period, Crane Corporation sold 104000 units at $45 each. The variable cost per unit was $20 per unit. Fixed costs totaled $1100000. What was the companys...
- Q Gray Inc. sold 24,000 units during the month of March. The total cost of the goods sold was $300,000. The sales price of each unit was $17. Gray has two...
- Q Bullwinkle company has the following inventory, purchases, and sales data for the month of March. Beginning Inventory: Aug 1 20 units @ $2 $40 Purchases: Aug 10 60 units @...
- Q Four $10000 bonds bearing interest at 6% payable quarterly and redeemable at par on September 1, 2024, were purchased on January 23, 2012, to yield 5% compounded quarterly. Determine (a)...
- Q when no tax is due on a split gift, a gift tax return: A) must be filed to indicate the split gift B) is not required to be filed...
- Q definition of hedge accounting and talk about those: - hedge of forecasted foreign currency denominated transaction - hedge of unrecognized foreign currency firm commitments - foreign currency option...
- Q The 2020 and 2019 comparative Balance Sheets and 2020 Income Statement of Lorna Jewelry Corp. follow: Lorna Jewelry...
- Q Is it True or False that higher level management employees are most likely to make structured decisions involving strategic planning. justify your answer.
- Q For each of the unrelated transactions described below, present the entry(ies) required to record the bond transactions. 2. Packard, Inc. decides to issue convertible bonds instead of common stock. The...
- Q Entries for Bonds Payable, including bond redemption The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 ...
- Q discuss how the analysis of WorldCom's financial statements raise any questions that might lead to a fraud hypothesis
- Q Please answer this I'll leave a review!! 24 1) The most damaging type of fraud, per event, is A) corruption. B) misappropriation of assets. C) fraudulent...
- Q 1. What is the difference between private and governmental not-for-profit organization and who oversees the accounting requirements for each type of organization? 2. What are the various categories that come...
- Q Summarize the events of a recent accounting scandal. Identify how the illegal/unethical act was detected and the punishments that resulted (fines, prison terms, etc.). Next, consider what could have been...
- Q On May 7, a company provides services on account to an individual for $2,400. The individual pays for those services on May 13. Required: For the company, record the service...
- Q Case (A)Case (B)Case (C)Beginning Balance (BB)$ 66,200$ 61,240?Ending Balance (EB)62,700?15,200Transferred In (TI)190,50080,93066,600Transferred Out (TO)?77,82068,700For Case (B) above, what is the Ending Balance (EB)? Multiple Choice A) $142,100 B) $139,340...
- Q If Colleen Mooney invests $1,560.48 now and she will receive $12,000 at the end of 18 years, what annual rate of interest will Colleen earn on her investment? (Hint: Use...
- Q A building with an appraisal value of $138,732 is made available at an offer price of $152,255. The purchaser acquires the property for $34,607 in cash, a 90-day note payable...
- Q Last period A &B Limited budgeted to sell 1000 sets for ksh 280,000 but due to bad trading environment they only managed 840 sets for ksh 228,400....
- Q Standard Setters and Committees For each organization, please describe their purpose, structure, and role in the accounting world. a. Financial Accounting Standards Board (FASB) b. International Accounting Standards Board...
- Q AAA Company signed a contract charging a customer P600,000 to change the windows of a customer's house. The contract includes costs for materials and labor. The Company would charge P250,000...
- Q 12. The following account balance information is available as of December 31, 20X4 for XYZ Co.: Cash$240,000 Accounts receivable....$560,000 Marketable securities..$400,000 Prepaid insurance....$300,000 Equipment (net)...$3,300,000 Current liabilities (total).....$300,000...
- Q Margot Company owns a majority interest in Bremmer Company, which is located in Norway. Margot must: Multiple Choice convert Margot Company's financial statements to the foreign currency for...
- Q Depletion of Natural Resources Brandon Oil Company recently purchased oil and natural gas reserves in a remote part of Alaska for $800,000. Brandon spent $10,000,000 preparing the oil for extraction...
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