Accounting question and answers for November 15, 2023
- Q Bandar Industries manufactures sporting equipment. One of the companys products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,700 helmets, using...
- Q Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $376,000. Overhead costs incurred in April...
- Q List 7 important questions that should be addressed when reviewing software options for payroll.
- Q Present Value of Amounts Due Assume that you are going to receive $280,000 in 10 years. The current market rate of interest is 5%, compounded annually. a. Using the present...
- Q Corporations have a larger standard deduction than individual taxpayers because they generally have higher revenues. True or False
- Q Remeasurement of financial statements Assume that your company owns a subsidiary operating in Australia. The subsidiary has adopted the Australian Dollar (AUD) as its functional currency. Your parent company operates...
- Q Direct Labor Variances The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,120 hrs. at $13 Standard: 3,070 hrs. at $13.3 a. Determine the direct...
- Q Sequential Method Jasmine Company manufactures both pesticide and liquid fertilizer, with each product manufactured in separate departments. Three support departments support the production departments: Power, General Factory, and Purchasing. Budgeted...
- Q Obtain the Annual Report (Form 10K) and Proxy Statement (Form DEF 14A) of the company, Walmart, for the immediate past fiscal year. Review these documents in addition...
- Q On July 1,20Y1, Danzer Industries Inc. issued $40,000,000 of 10-year, 7% bonds at a market (effective) interest rate of 8%, receiving cash of $37,282,062. Interest on the bonds...
- Q Bruno Corporation is involved in the business of injection molding of plastics. It is considering the purchase of a new computer-aided design and manufacturing machine for $430,000. The company believes...
- Q High-Low Method for a Service Company Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of...
- Q Post the transaction to the ledger. Your general ledger cash balance uses a full ledger sheet; use the T Chart for all other account Borrowed $49,000 from...
- Q Fletcher Company collected the following data regarding production of one of its products. Compute the total direct materials variance. Direct materials standard (4 pounds @ $2/pound) $ 8 per finished...
- Q Problem 5-22 CVP Applications; Contribution Margin Ratio; Break-Even Analysis; Cost Structure [LO5-1, LO5-3, LO5-4, LO5-5, LO5-6] Due to erratic sales of its sole producta high-capacity battery for laptop computersPEM, Inc.,...
- Q Magic Realm, Inc., has developed a new fantasy board game. The company sold 36,800 games last year at a selling price of $69 per game. Fixed expenses associated with the...
- Q Audit documentation Serves as a substitute for the clients accounting records. Is unnecessary if the auditor expresses an adverse opinion. Is the property of the client. Provides evidence that the...
- Q CHOW CHOW inc contemplates the following transactions for the first six months of 2021. The board of the company wants to determine the funding needs of the company and financing...
- Q On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for cash...
- Q I. Problem-Solving The following accounts of Mezzo HealthCare Co. were found on Dec 31. Cash 10,000 Marketable Securities 20,000 Accounts Receivable 15,000 Allowance for bad debts 1,000 Inventory 8,000 Equipment...
- Q QUESTION A complete analysis of the alternative courses of action for responding to the pirates requires a consideration of noneconomic factors. What noneconomic factors can you identify that you think...
- Q Salamander Inc. is a food processing company that operates divisions in three major lines of food products: cereals, frozen fish, and candy. On 13 September 20X1, the Board of Directors...
- Q Unless otherwise specified, only the following rules for taxation of corporate profits will be relevant, other taxes can be ignored: Accounting rules on recognition and measurement are followed for...
- Q Tonnie Minis Break-even Calculation Operating Costs Rent @ $100 a day Labor @ $180 a day Electricity@ $75 a day...
- Q Calistoga Produce estimates bad debt expense at % of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2022....
- Q 6. Week 7 Need Help to solve each solutions below where its says : A. Prepare journal entries to record the preceding transactions on the assumption that the bonus (or...
- Q Rory was called out to Radhika Porter's house for some plumbing work. Radhika Porter paid Rory by cash at completion of the job. Rory spent all of the cash...
- Q Indicate the effect of the following event on the companys accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased....
- Q answer form 1120 from IRS [The following information applies to the questions displayed below.] XYZ is a calendar-year corporation that began business on January 1, 2021. For the...
- Q Define AAR: Then discuss how each of the following items can affect your assessment of AAR -Be specific Third Party Use of Financials Possibility of Financial difficulties...
- Q Neptune Transport Company makes per carriers, the Cat-allac. It is made of plastic with metal doors. Information for the product for the month of October is given in the following...
- Q Our company purchases a building and land for $500,000. The appraised market value of the land is $300,000, and the total appraised value of the entire purchase including the building...
- Q Prepare a Journal entry for following first year income statement and classified balance sheet. Income statement ...
- Q A firm has a limited number of machine hours = 20,000 per year. It has prioritised the use of the machine hours based on the products that miximize the contribution...
- Q Cost Flow Relationships The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils: Sales $486,480 Gross...
- Q 7. 48. 11. 1. 16 Z. 3. previous tax year. 4. Nathan spent the summer at home with his parents but lived in an apartment near campus during the...
- Q Namul Co is a retailer of mid- to low-range children's clothing. It operates in many countries around the world and has expanded steadily from its base in Asia. Its main...
- Q SUBJECT : ACCOUNTING & FINANCE Question 6 Research element Discuss about the accounting and finance system of your organisation. You are required to Introduce your department...
- Q Deductibility of Business Expenses Christopher is a cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Next to each item, indicate...
- Q The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the companys fiscal year, contained the following income statement items ($ in millions): sales revenue,...
- Q chapter 7 Question Content Area Variable Costing Income Statement for a Service Company The actual and planned data for Broadwater Institute & Technical School for the Fall...
- Q The management of L Corporation is considering a project that would require an initial investment of $48,000. No other cash outflows would be required. The present value of...
- Q JJPluxem manufactures and sells one product, Sefram 7 a digital security system for commercial properties. Each system sells for $2,000 and the variables costs are $800 per unit. Fixed...
- Q **Performance Measurement and Evaluation in Accounting: A Comprehensive Case Study** *Introduction:* Performance measurement and evaluation are critical aspects of financial management, allowing organizations to assess their effectiveness in achieving strategic...
- Q q11- X Co acquired 80% of Y Co outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both corporations reported the following: X CO Y...
- Q 1. Financial information is presented below: Operating expenses $ 40000 Sales returns and allowances 2000 Sales discounts 6000 Sales...
- Q Arizona University, a calendar year Section 501(c)(3) tax-exempt organization, owns and operates an outdoor swimming pool that is open year-round. During the regular academic year, September through May, the pool...
- Q Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: ...
- Q The resource that is most likely to be found in multiple business processes in all types of organizations is: Employee Cash Cash disbursement...
- Q Which of the following is not an existing Audit Data Standard? Multiple choice question. Inventory subledger Manufacturing subledger Order-to-Cash subledger General Ledger ...
- Q Zume Pizza: Cost-Volume-Profit Analysis Zume Pizza uses a combination of robots, artificial intelligence (AI), and GPS in its food trucks to deliver pizzas to customers houses just as the pizza...
- Q How have technological advancements, such as AI, blockchain, and cloud computing, transformed traditional accounting practices? Discuss the potential benefits and challenges these technologies pose to the accounting profession,...
- Q The shareholders' equity section of Sanchez Company on January 1, 2018 showed the following: Ordinary share, P100 par, 200,000 shares authorized, 60,000 shares issued P6,000,000 Share premium 1,200,000 Retained earnings...
- Q If external auditors decide to use audit specialists, they need to seek permission from the company they are auditing? True or False
- Q Sales revenue (C5LO3)
- Q pharoah company issued $550,000, 10-years, 4% bonds at 103. prepare the journal entry to record the sale of these bonds on january 1,2025
- Q Risk Assessment and Management in Managerial Auditing Risk assessment and management are integral components of managerial auditing, aimed at identifying, evaluating, and mitigating risks...
- Q or this post, I would like you to go and pull a 10K from a publically traded company (please pull a PDF version and attach it to your reply...
- Q The file Fees15.csv includes data about audit fees paid by public companies for fiscal year 2015 (Note: This could include companies with fiscal year ends up to March 31, 2016...
- Q Henries Drapery Service is investigating the purchase of a new machine for cleaning and blocking drapes. The machine would cost $137,320, including freight and installation. Henries estimated the new machine...
- Q Discuss your pricing strategy: Cost leader, lowest cost, cost differentiation for your business.
- Q Luther, age 54, and Lexi, age 56, are married and file a joint return. Lexi has family coverage through her High Deductible Health Plan...
- Q The information below relates to the operations of Cullumber Corporation, a private company following ASPE, for the year ended December 31, 2020: Cost of...
- Q USING THE INDIRECT METHOD FOR THE CASH FLOW STATEMENT PREPARE A CASH FLOW FOR THE FOLLOWING: The following represents the financial statements for Randall Company at the end of December...
- Q Wildhorse Inc. issued $920,000 of 10.40%,20-year bonds on January 1,2023, at 103. Interest is payable semi-annually on July 1 and January 1. Wildhorse uses the effective interest method...
- Q The shareholders' equity section of S Company on January 1, 2018 showed the following: Ordinary share, P100 par, 200,000 shares authorized, 60,000 shares issued P6,000,000 Share premium 1,200,000 Retained earnings...
- Q Identification of Eligible Research and Development (R&D) Activities In accounting for research and development tax credits, the first step is to identify eligible R&D...
- Q Question 6: (25) Ward is seeking to grow through acquisition and has identified two unlisted entities, Moon and Kirke, of similar size and operating in the same line of business...
- Q In a regression analysis if SSE = 70 and SSR = 376, then what is the coefficient of determination? (please keep 2 decimal places)
- Q ANSWER ONLY FOR CFS PLEASE Comprehensive Problem McCadden Company started business on January l, 2020. The following transactions and events occurred in 2020 and 2021. For simplicity, information for sales,...
- Q Under Rowena's will, Mandy (Rowena's sister) inherits her property. One year later, Mandy dies. Based on the following independent assumptions, what is Mandys credit for the tax on prior transfers?...
- Q The general time limit for Franchise Tax Board (FTB) to assess additional California state income and franchise taxes is provided by Section 19057 of the Revenue and Taxation Code. Which...
- Q Which of the following is an ordinary asset? Computer Delivery truck Accounts receivable Equipment
- Q ABC Corporation has the following information regarding a piece of manufacturing equipment that was purchased on January 1, 2015. Cost of the equipment = $900,000 Estimated residual value...
- Q 1. Which are the factors of Confidentiality Business continuity in accounting?
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