Accounting question and answers for November 15, 2023
- Q Vulcan Flyovers offers scenic overflights of Mount Saint Helens. Data concerning the companys operations in July appear below: Vulcan Flyovers Operating Data For...
- Q 3. Three individuals form Skylark Corporation with the following contributions: Cliff, cash of $50,000 for 50 shares; Brad, land worth $20,000 (basis of $11,000) for 20 shares; and Ron, cattle...
- Q Skysong, Inc.issued 3,800 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of...
- Q At the end of the first month of operations for Fieldstone's Catering Service, the business had the following accounts. Cash, $19750. Prepaid Rent. $500 Equipment, $7.500 and Accounts Payable $4,000....
- Q The ledger of Crane Company has the following work in process inventory account. Work in ProcessPainting 5/1 Balance 3,690 ...
- Q Develop a spreadsheet with a cash budget with lagging collections. determine the net cash flows for the year. Forecast the cumulative dollar amount of the external financing required for the...
- Q Lets assume, instead, that the roommate thing doesnt work out. Edward now wants to consider other ways to increase his profit in this business. (c1)...
- Q You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the companys operations: The...
- Q 1. On January 1, $808,000, five-year, 10% bonds, were issued for $783,760. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method...
- Q At June 30, 2017, the end of its most recent fiscal year, Green River Computer Consultants post-closing trial balance was as follows: ...
- Q With a risk tolerance of $320,000,000, the company views the optimal strategy as equivalent to receiving a sure $ , even though the EMV from this strategy is $...
- Q Google has made an offer to buy your start-up. As long as you keep working for the firm, Google promises to pay you the following amounts over the next 5...
- Q Andrea has a small CPA practice with four professionals and two administrative people. About a year ago one of Andreas clients had a very complex tax problem. She spent 45...
- Q Dense Company's income statement showed revenues of $275,000 and operating expenses of $135,000. Accounts receivable decreased by $40,000 and accounts payable increased by $35,000 during the year. Compute cash receipts...
- Q Y firm has total debt of $2,500 and a debt-equity ratio of 0.64. What is the value of the total assets?
- Q The following transactions and adjusting entries were completed by Legacy Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance...
- Q Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: Average Cost per...
- Q Abby Sane decided to buy corporate bonds instead of stcok. she desired to have the fixed-interestt payments . she purchased 4 bonds of Meg Corporation 13.00% at 87.00% As the...
- Q "For many companies, the recognition approach adopted by AASB16: Leases has changed their Balance Sheet." Explain to what extent you agree with this statement. Include a supporting example in your...
- Q Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts...
- Q What is the present value of 10 $10,000 payments each of which will be received at the beginning of each period over 10 periods, discounted at 6% per...
- Q Bluebird Mfg. has received a special one-time order for 9,000 bird feeders at $10 per unit. Bluebird currently produces and sells 75,000 units at $13.00 each. This level...
- Q At year-end (December 31), Chan Company estimates its bad debts as 0.20% of its annual credit sales of $827,000. Chan records its Bad Debts Expense for that estimate. On the...
- Q Using this table as needed, calculate the required information for the mortgage. Round your dollars to the nearest cent. the amount financed is 162300. Interest rate is 5.25% time of...
- Q Problem 25-01A U3 Company is considering three long-term capital investment proposals. Each investment has a useful life of...
- Q DM09 Kwshn 2: DI BS DN WE DN YUZ F DI ALAWNS MTD . Di kmni dn kin yuz wan pan tu we dn fstimat di tin...
- Q A company has $1,400,000 of inventory at historical cost. After applying lower of cost and net realizable value (LCNRV), the company will have an inventory write-down of $160,000. The company...
- Q Mr.Abdullah specializes on Arbitrage trading. He has got the following quotes regarding 3 currencies GBP 0.739541 / USD AUD 1.3081 / USD GBP 0.563789 / AUD Now he wants to...
- Q Feather Friends, Incorporated, distributes a high-quality wooden birdhouse that sells for $80 per unit. Variable expenses are $40.00 per unit, and fixed expenses total $180,000 per year. Its...
- Q Assume the contribution margin ratio is 40% and variable costs are $20,000 and fixed costs are $300,000. What level of sales is necessary to break even? a. $120,000 b. $320,000...
- Q Posting to the general ledger from the special journals should be done at the end of the month. True or False
- Q sales .variable expenses is
- Q how much can I contribute to a Roth IRA for 2024
- Q Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington faces, management...
- Q The account "Accumulated Depreciation" reflects depreciation: a. equal to the amount of revenue from that asset b. still to be taken on the asset in future periods c....
- Q Please help me solve! Lorenzo has two transactions involving the sale of capital assets during the year resulting in a STCL of $5,200 and a LTCL of $2,400. As a...
- Q Assume the unit contribution margin is $10. Sales are $1,000,000, variable costs are $200,000 and fixed costs are $700,000. How many units must be sold to earn a profit of...
- Q On what financial statement are period costs reported? (multiple choice) A. Retained Earnings Statement B. Cash Flow Statement C. Balance Sheet D. Income Statement
- Q Rodriguez Corporation issues 12,000 shares of its common stock for $267,700 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. ...
- Q QUESTION 2 (20 Marks) 2.1 REQUIRED Use the information provided below to determine the cost (as a percentage, expressed to two decimal...
- Q I need the excel fromulas for this
- Q Insurance payment includes an advance payment of $12,925 for the next year. Is it tax deductible?
- Q A is an accrual basis taxpayer. A sells services that are delivered on a monthly basis. On May 1, 2016 A enters into the following agreements. Agreement that runs until...
- Q Jackson who is single is a farmer and files schedule F for 2018. He had a net profit from the farm of $96,550. After other income and adjustments , Jackson's...
- Q 2) Define AAR: Then discuss how each of the following items can affect your assessment of AAR -Be specific a. Third Party Use of Financials b. Possibility of Financial...
- Q Georgia Inc. reported operating income of $156,000 and sales of $1,300,000 for the current year end. Determine the company's return on sales. a.15% b.10% c.8% d.12%
- Q FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and vegetables. The canned food box (type C) and the perishable food box...
- Q 1. a. We are doing our budgeting for 2021. In 2021 we will apply overhead based on machine hours. Our 2021 estimated manufacturing overhead is $720,000. We expect to...
- Q Activity-Based Costing for a hospital Deer Lodge Regional Hospital plans to use activity-based costing to assign hospital indirect costs to the care of patients. The hospital has identified the following...
- Q Grouper Corp.s unadjusted trial balance at December 1, 2022, is presented below. Debit Credit Cash $28,160 Accounts Receivable 47,104 Notes Receivable 12,800 Interest Receivable 0 Inventory 46,336 Prepaid Insurance 4,608...
- Q A and B form the AB partnership to operate an international business. They make equal contributions to the partnership. The income of the business, as well as the sources of...
- Q During the year an entity exchanged an office building for a hotel with another entity. Data on outgoing asset is as follows: Original cost $3,200,000 Accumulated depreciation $1,760,000 Fair Value...
- Q As Druzcz was working and operating other businesses in addition to Master Decker, he started to realize the limits of his personal capacity. If he were to continue operating Master...
- Q Contribution Margin Analysis The actual variable cost of goods sold for a product was $43 per unit, per unit, while the planned variable cost of goods sold was $50 per...
- Q https://www.chegg.com/homework-help/questions-and-answers/unadjusted-trial-balance-blossom-year-end-april-30-2021-follows-blossom-trial-balance-apri-q68746604 ( the question is in the image in the link,please do the answer follow the data I provide ) (please done w specific explanation especially at part need...
- Q Shi Company is going through a Chapter 7 bankruptcy. All assets have been liquidated, and the company retains only $25,400 in free cash. The following debts, totaling $39,050,...
- Q Account balances from Facey Manufacturing Companys accounting records for the month ended December 31, 2019 appear below: Finished Goods Inventory, December 31 ...
- Q QUESTION 3: MANAGEMENT ACCOUNTING IN PUBLIC SECTOR Read the article and answer the questions. Budget 2020 likely to have changes The government is expected to make substantial changes to...
- Q 18. Edith performs a service for Flo in exchange for a promissory note for $800. At the time that Edith accepts the note, she is aware that bankruptcy proceedings...
- Q Lance Lawn Services reports warranty expense by estimating the amount that eventually will be paid to satisfy warranties on its product sales. For tax purposes, the expense is deducted when...
- Q During 2018, the following events occurred for Clouseau Consultants Clouseau provided $56,044 of consulting services to its clients but no cash has been collected. Clouseau collected...
- Q Explain how Contribution Margin Analysis is useful for managerial decisions and performance evaluations.
- Q Sandpiper Company has 20,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: ...
- Q Authentic Assessment Module 13: Variance Analysis Open your Excel Workbook and name a new tab Variance Analysis. Modeling your analysis on the template I have provided in the workbook in...
- Q James Valley Manufacturing Company uses the FIFO method in its process costing system. On May 1 the beginning work in process inventory in a particular department consisted of 16,000 units,...
- Q Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are...
- Q Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 4.00 yards at $5.00 per...
- Q 1. What date determines which payroll cheques are used to calculate the remittance to Revenu Qubec? a. The last date the cheques were processed for the pay period b. The...
- Q During 2018, Landers Corp. had net sales of $17,000,000. The beginning total assets were $8,600,000. The asset turnover ratio was 1.5 times. Calculate the ending total assets of Landers. (Round...
- Q Your company purchases $50,000 of inventory from a wholesaler that allows you 45 days to pay. In addition, the wholesaler offers a 3% discount if payment is made within 12...
- Q Compute cost of goods sold using the following information. Finished goods inventory, beginning $ 740 Cost of goods manufactured 4,960 Finished goods inventory, ending 1,050
- Q "specified service" businesses include all if the following EXCEPT? Athelitics Engineering Brokerage services Healthcare
- Q On January 2, 2020, $241,462 in 11 year, 7% bonds with a market interest rate of 9%, and interest payable semiannually, were issued for $185,895. On June 30,...
- Q Midshipmen Company borrows $20,000 from Falcon Company on July 1, 2021. Midshipmen repays the amount borrowed and pays interest of 12% (1%/month) on June 30, 2022. Required: Calculate the 2021...
- Q A company issued 5%, 20-year bonds with a face amount of $80 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At...
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