Accounting question and answers for November 15, 2023
- Q Iota Ltd issues loan notes of €75,000 on 1 January 2035. Redemption is to take place on equal terms, four years later. The company decides to put aside an equal amount...
- Q Phi Enterprises issues loan notes of $125,000 on 1 January 2023. Redemption is to take place on equal terms, six years later. The company decides to put aside an equal amount...
- Q Zara's Zucchini is considering a month-long discount on zucchini lasagna, reducing the price from $10.00 to $8.00. Promotion costs $1200. Zara expects zucchini lasagna sales to increase by 40%, with a...
- Q Tracy's Tacos plans a weekend discount on chicken tacos, reducing the price from $3.50 to $2.50. Promotion costs $800. Tracy expects chicken taco sales to increase by 35%, with a 15%...
- Q Company: Sony CorporationItemAmount (in millions)Revenue$79,216Cost of Goods Sold (COGS)$53,100Gross Profit$26,116Operating Expenses$15,600Operating Income$10,516Interest Expense$1,500Income Tax Expense$2,100Net Income$6,916Questions:What is Sony's gross profit margin?Calculate Sony's operating profit margin.Determine Sony's net profit margin.If Sony’s...
- Q Beta Enterprises issues loan notes of $85,000 on 1 January 2028. Redemption is to take place on equal terms, five years later. The company decides to put aside an equal amount...
- Q Wendy's Waffles is considering a promotional discount on Belgian waffles for a week, reducing the price from $5.00 to $4.00. Advertising costs $700. Wendy expects Belgian waffle sales to increase by...
- Q Company: Microsoft CorporationItemAmount (in millions)Net Income$44,281Depreciation and Amortization$10,000Change in Working Capital-$2,500Cash Flow from Operating Activities$51,781Capital Expenditures$16,500Cash Flow from Investing Activities-$20,000Cash Flow from Financing Activities-$10,000Beginning Cash Balance$8,500Ending Cash Balance$30,281Questions:What is Microsoft’s...
- Q Company: Amazon.com, Inc.ItemAmount (in millions)Revenue$469,822Cost of Goods Sold (COGS)$272,344Gross Profit$197,478Operating Expenses$112,384Operating Income$85,094Interest Expense$2,700Income Tax Expense$18,000Net Income$64,394Questions:What is Amazon's gross profit margin?Calculate Amazon's operating profit margin.Determine Amazon's net profit margin.If Amazon’s...
- Q Company: Walt Disney CompanyItemAmount (in millions)Revenue$65,388Cost of Goods Sold (COGS)$34,700Gross Profit$30,688Operating Expenses$14,900Operating Income$15,788Interest Expense$2,600Income Tax Expense$3,000Net Income$10,188Questions:What is Disney's gross profit margin?Calculate Disney's operating profit margin.Determine Disney's net profit margin.If...
- Q Gamma Inc issues loan notes of €70,000 on 1 January 2007. Redemption is to take place on equal terms, six years later. The company decides to put aside an equal amount...
- Q Alex Corp issues loan notes of £50,000 on 1 January 2005. Redemption is to take place on equal terms, five years later. The company decides to put aside an equal amount...
- Q Ted's Tacos is considering a special discount on fish tacos for a month, reducing the price from $4.00 to $3.00. Promotion costs $1200. Ted expects fish taco sales to increase by...
- Q Nora's Noodles plans a weekend discount on udon bowls, reducing the price from $9.00 to $7.50. Promotion costs $1000. Nora expects udon bowl sales to increase by 40%, with a 15%...
- Q Rachel's Ramen plans a two-week special where the price of tonkotsu ramen drops from $12.00 to $10.00. Advertising costs $1500. Rachel expects tonkotsu ramen sales to increase by 30%, but expects...
- Q Holly's Hotdogs plans a month-long discount on veggie hotdogs, reducing the price from $4.00 to $3.00. Promotion costs $1000. Holly expects veggie hotdog sales to increase by 30%, with a 10%...
- Q Mark's Market plans a weekend discount on organic avocados, reducing the price from $2.00 to $1.50. Promotion costs $500. Mark expects avocado sales to increase by 50%, but expects a 15%...
- Q Ella's Eatery is considering a week-long discount on quinoa bowls, reducing the price from $8.00 to $6.50. Promotion costs $1000. Ella expects quinoa bowl sales to increase by 40%, with a...
- Q The number of new savings bank account open by cash less bank branch is given in table.Week no.Account No.1252303354205506457408209351040RequiredA) Forecast the number of savings bank account for Week no. 11...
- Q A Company owns 90% of B Company. A uses the equity method to account for its investment. On the date of acquisition, The net book value of B was equal...
- Q On Dec. 31, 2040, Tristar Aero Dynamics, Inc. ("TAD") has issued a three-year note with a face value of $1,000 and no interim coupon payment. The yield to maturity for...
- Q You expect to receive $1,005 every year at the end of each year, starting at the end of year 5 and ending at the end of year 15. If you...
- Q You’re working as an accounting analyst with a large manufacturing company, Bolton & Sons, Inc., when your manager comes to you with a request. The CFO is very concerned about...
- Q Suppose a bond with 8.5 years of Macaulay duration and 5.5% of yield to maturity, is currently traded at $1,200. If you expect the bond's yield to maturity to decline...
- Q Freight Company acquired 100 percent of Shipper Enterprises. At the acquisition date, Shipper's plant assets have an historical cost of P250,000 and an accumulated depreciation of P56,000. The appraised value...
- Q Calculate income tax receivable. (show working) Years ...
- Q Pearl Company reported the following actual cost data for the year:Purchase of raw materials (all direct)$300,000Direct labour cost200,000Manufacturing overhead costs269,000Change in inventories:Decrease in raw materials$12,000Decrease in work in process10,000Decrease in...
- Q Consider the following statement: "Whether a company is domestic or international, the size of the company is not important. No matter if it is a large corporation or a small business.What...
- Q In 2016, Lorrie Meller use her lifetime capital gains deduction to eliminate a $10,000 taxable capital gain. During 2019, she had employment income of $50,000, a capital gain of $26,000,...
- Q Clay Company had P600.000 convertible 8% bonds payable outstanding on June 30, 2011. Each P1,000 bond was convertible into 10 ordinary shares of P50 par value. On July 1, 2011,...
- Q The business paid insurance premium of P 4,500 covering 6 months starting October 1, 2014. The balance sheet date of the business is December 31, 2014.Required:Prepare the adjusting entry if...
- Q The following data relates to Process 1. Materials input: 1,000 units costing $10,000 Labor costs: $8,000 Departmental overhead: $6,000 Normal loss is 4% of input and sold for scrap for $12 per unit. Actual output...
- Q Shannon Harris struggled with renal failure and was admitted to the hospital. His doctors advised him to receive a blood transfusion. Shannon Harris refused a blood transfusion because the procedure...
- Q A bond has a face value of $100,000. A coupon rate of 3.75%.a YTM of 3.46%, and it matures exactly 20 years from today. What is its price if the next...
- Q A5:K14 range. Please be sure to use your actual names for the last employee. Employee Name No. of Dependents Hourly Wage Hours Worked Regular Pay...
- Q Farhan Ullah Aziz has been running an electronics manufacturing business for a long time. The company uses Direct Labor Hours as a cost driver for applying overheads to different products....
- Q Instructions: Length: approximately three sentences per question Question: What, if any, prohibited conduct has occurred in the following scenarios? a. O Blinding Light Real Estate, Inc (OBL) and its cross-town...
- Q Contribution margin is useful in determining whether a companys fixed costs are covered. Test Your Understanding: A machine for manufacturing a new lipstick product costs a...
- Q The Goodyear Tire & Rubber Company's December 31, 2016, financial statements reported the following (in millions). Cash December 31, 2016: $1,132 Cash from operating activities: $1,504 Cash from investing activities:...
- Q If the auditor concludes that audit sampling has not provided a reasonable basis for conclusions about the population that has been tested, the auditor may practically apply which of the...
- Q KC services provides landscaping services in Edison. Kate chen, the owner, is concerned about the recent losses the company has incurred and is considering dropping its lawn services, which she...
- Q X Company currently makes a part and is considering buying it next year from a company that has offered to supply it for $18.06 per unit. This year, total costs...
- Q Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standards for one unit of Zoom follow: Standard Quantity...
- Q Allen Inc. exchanged land and cash of $4,500 for similar land. The book value and the fair value of the old land were $89,900 and $100,100, respectively. Assuming...
- Q Problem 4-03 Information for 2020 follows for Whispering Winds Corp.: Retained earnings, January 1, 2020 $2,020,000 Sales revenue 37,400,000...
- Q i) Explain the types of audit strategies and describe how auditors determine their audit strategy.(8 marks) ii) Grand thorn is a successful accounting firm with a large range of clients...
- Q Sage Co. has the following defined benefit pension plan balances on January 1, 2020. Projected benefit obligation $4,623,000 Fair value of plan assets...
- Q Cortana Institute is an academic institute which prepares its budget based upon two cost drivers, namely number of students and number of courses. The budgeting data given below relates to...
- Q Advertising is any form of free non-personal communication used by an identified sponsor to persuade potential buyers about a product. a. True b. False
- Q Last month holiday creations sold 43000 units, total sales $172000, total variable expenses $134160, fixed expenses $35900. What is the estimated increase in net operating income if increase total sales...
- Q Calculation of Value-Added and Non-Value-Added Costs, Activity Volume and Unused Capacity Variances Maquina Company produces custom-made machine parts. Maquina recently has implemented an activity-based management (ABM) system with the objective...
- Q Division A has variable manufacturing costs of $50 per unit and fixed costs of $10 per unit. Assuming that Division A is operating at capacity, what is the optimal transfer...
- Q 12. An acquirer recently purchased a software design firm that has a wonderful reputation and skilled workforce. The acquirer paid a lump sum to buy the entire company. The software...
- Q 1.On January 1, 2020, KJ Inc. acquired an equipment for P2,400,000 with residual value of P400,000 and useful life of 8 years. On December 31, 2023, due to hyperinflation, KJ...
- Q Ivanhoe Industries manufactures a component used by car manufacturers. Ivanhoe can produce 1008000 components per year. A foreign car manufacturer has approached Ivanhoe with an offer to purchase 124000 components...
- Q You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar...
- Q Part I: What are some differences between managerial accounting and financial accounting? Part II: Give examples of each of the four primary management activities in the context of a national...
- Q (Warranties and Premiums) Garison Music Emporium carries a wide variety of musical instruments, sound reproduction equipment, recorded music, and sheet music. Garison uses two sales promotion techniqueswarranties and premiumsto attract...
- Q During the current year, a firm sells inventory on account for $1,000. The inventory (which was purchased in a prior period) originally cost $700. An additional $50 was spent (in...
- Q Sheridan Co. invested $980,000 in Skysong Co. for 25% of its outstanding stock. Skysong Co. pays out 30% of net income in dividends each year. Use the information in the...
- Q Matchbox Manufacturing has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company...
- Q On Dec. 8, Sheffield Company discounted at Sunshine Bank a $7,200 (maturity value), 122-day note dated Sept. 12. Sunshines discount rate was 9%. (Use Days in a year table.) What...
- Q The investment cost of the fruit juice business was determined as 3,200,000 TL. The depreciation rate of the enterprise is determined as 10%. Fruit juice and concentrate are produced in...
- Q Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash. A...
- Q QUESTION On January 1st. 1989, the X Company was incorporated in Seattle, Washington, U.S.A. The Company was in the business of manufacturing and selling womens beauty product. Production and warehousing...
- Q The assessed value of all the property in the County is $60,000,000 according to the property appraiser. Of this amount, $5,000,000 belongs to the federal government or religious organizations...
- Q what is the payback period for the previpus assignment that i posted. i posted the problem in my previous post. these 2 questions are related. Nick's Novelties, Incorporated,...
- Q Based on the information below, find the total costs for Model B. (first year and recurring costs, years 1 to 5 ) Remember to use the concepts...
- Q Based on the information below, find cash available at the end of January For your answer. Do not use the dollar sign, do not use decimals, periods or commas. Round...
- Q Question 12: Marginal accounting helps businesses evaluate the revenue, costs, and profitability associated with each incremental unit or product. Don't use Chat GTP, It gives wrong answer. Don't give wrong...
- Q Please search online business press and find a recent article related to Accrual versus Cash Accounting, Revenue Recognition, or Accounting Fraud. Here are some examples of online business press websites...
- Q Early in year 1, the Carlbury Company began developing a new software package to be marketed. The project was completed in December, year 1,...
- Q Maston Metals, Inc. is a manufacturer of aluminum cans for the beverage industry. Maston purchases aluminum and other raw materials from several vendors. The purchasing process at Maston occurs as...
- Q The cash account of Grouper Co. showed a ledger balance of $ 13,324.69 on June 30, 2020. The bank statement as of that date showed a balance of $ 14,110....
- Q Last year, Harold Company produced17,200 units and sold16,200 units. The company had no beginning inventory. Harold incurred the following costs: Direct materials per unit $33 ...
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!