Accounting question and answers for November 15, 2023
- Q explain the benefit a company can receive if they issue the following type of bonds: A. Callable B. Convertible
- Q Norfolk Sporting Goods purchases merchandise with a catalog list price of $15,400. The retailer receives a 33% trade discount and credit terms of 2/10, n/30. What amount should Norfolk debit...
- Q When performing a bank reconciliation, which of the following would be deducted from the book side?
- Q Question 7: Marginal accounting allows businesses to analyze the ______ revenue, ______ costs, and ______ profitability associated with each unit or product. Don't use Chat GTP, It gives wrong...
- Q Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $3,160 from William Pruitt and wrote off the remainder owed of $6,000...
- Q Dillion Company has the following transactions related to notes receivable during 2022. Oct. 1 Exchanged Goforth Inc.s $5,000 accounts receivable for a 2-year, 5% note. Dec. 31 Accrued interest revenue...
- Q I have answers for 2a. #1-3; need 2b. answered based on 2a.: 2b. What income would you report for 2008? Why? Support your answer with reference to appropriate FASB's rules....
- Q Est haciendo una pasanta como asistente de un CPA y ayudando a preparar estados financieros cuando se encuentra con una transaccin que le genera dudas. Usando su imaginacin, en una...
- Q Si una empresa aparta $1,000,000 ahora en un fondo de contingencia, cunto tendr la empresa en 2 aos, si no utiliza nada del dinero y la cuenta crece a una...
- Q According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income...
- Q Question 1 Bax Ltds statement of profit or loss for the year ended 30 June 2017 and extracts from its statements of financial position as at 30 June 2017 and...
- Q Merriman Company provides the following ABC costing information: Activities Total Costs Activity-cost drivers Account inquiry hours $400,00010,000 hours Account billing lines $280,0004,000,000 lines...
- Q MidCoast Airlines provides charter airplane services. In October of this year, the company is operating at 60% of its capacity when it receives a bid from the local community college....
- Q True or False. When open market operations are used to decrease bank funds, the yields on federal fund rate, loans an, deposit rates, and alternative debt instruments will increase. Provide...
- Q The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated. Debt Principal:...
- Q At a sales volume of 44,500 units, Choice Corporation's sales commissions (a cost that is variable with respect to sales volume) total $640,800. To the nearest whole dollar, what should...
- Q 1.) A Corporation owns stock in B Corporation, and A Corporation receives a dividend from B Corporation. Ignoring the dividends-received deduction, what booktax differences will A report for the year...
- Q Cosco Company had 300,000 shares of common stock issued and outstanding at December 31, 2017. During 2018, no additional common stock was issued. On January 1, 2018, Cosco issued 100,000...
- Q 10. Zara Bond is a 3-year redeemable bond with a coupon rate of 18 percent which is paid semi-annually. The market demands a return of 15% to invest in this...
- Q The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning...
- Q Which one of the following forms of compensation is a based upon the achievement of performance goals for a period? Multiple Choice Perk. Stock...
- Q The cost of energy consumed in producing good units in the Bottling Department of Mountain Springs Water Company was $1,216 and $792 for June and July, respectively. The number of...
- Q Choose the correct answer. a.The cost of a CPA review course is deductible by a bookkeeper on his Schedule C. b.Education expenses are deductible on Schedule C even if the...
- Q Prior to beginning work on this discussion, read Starbucks and General Electrics most recent Annual Report 2022 under Investor Relations. Using the most current Annual Reports or Form 10-K for...
- Q If a taxpayer filed his or her return on April 15, 2019, the due date for the return that year, paid $100 with the return, and then determined the amount...
- Q Randy Machine Tools sells an industrial lawn mower and offers a two-year warranty to its customers. The company sold 480 units of the lawn mower at an average price of...
- Q Give me a Brief summary of the information in these two reports : Management report and management discussion and analysis ( Company`s name: LUFAX HOLDING LTD )
- Q Exercise 14-9(Algo) Net Present Value Analysis and Simple Rate of Return [LO14-2, LO14-6] Derrick Iverson is a divisional manager for Holston Company. His annual pay...
- Q on june 30 jamison company issued $2,500,000 of 10 year, 8% bonds dayed june 30, for $2,580,000. present enteries to record the dollowing transactions
- Q The F. Mercury, Capital account has a credit balance of $18,700 before closing entries are made. If total revenues for the period are $60,200, total expenses are $43,600, and withdrawals...
- Q Question: In the context of financial reporting challenges, what is a potential implication of diverse global regulatory frameworks on organizations operating in multiple jurisdictions? ...
- Q Puget Corporation owns 80 percent of Sound Company's voting shares. On January 1, 20X7, Sound sold bonds with a par value of $300,000 when the market rate was 7 percent....
- Q Wesco Incorporateds only product is a combination fertilizer/weedkiller called GrowNWeed. GrowNWeed is sold nationwide to retail nurseries and garden stores. Zwinger...
- Q Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiago Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials,...
- Q Mike and Jean want to give their son a total of $30,000. They each write him a check for $15,000 so they won't have to pay any gift tax. This...
- Q Allowance for Doubtful Accounts has an unadjusted balance of $500 at the end of the year, and an analysis of accounts in the customers' ledger indicates doubtful accounts of $15,000....
- Q Gate Industries manufactures a standard model and a deluxe model of skateboard. The company, which uses an activity-based costing system, has identified the number of setups and number of production...
- Q Question 5: The ______ point is the level of production or sales where total revenue equals total ______, and ______ profit is zero. Don't use Chat GTP, It gives...
- 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 S 3-18 (Algo) Preparing closing entries from the ledger LO P6 The ledger of Mai Company includes the following accounts with normal balances as of December 31: Common Stock $10,900;...
- Q The pension plan for General GAP, U.S. company, ended Year 6 with a fair value of plan assets and projected benefit obligation of $930,000 and $850,000, respectively. The following information...
- Q Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or...
- Q Kohler Corporation reports the following components of stockholders equity at December 31, 2018. Common stock$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 Paid-in capital in...
- Q An example of a non-tax allowance would be: a) dress shoes b) social association membership c) uniform advertising the employer d) monthly amount of car allowance
- Q jace purchase a home for 225000 . he later added another room for 25300. he sold the home five years later for 305000 and paid sales commision of 12000 .jaces...
- Q A note receivable is evidenced by a formal instrument of credit because Select answer from the options below it is usually collected within 30 days. it is a written promise...
- Q 1 Case Study Accounting and Ethics 2 Demonstrate an understanding of the role of accounting and general accounting principles and practices. 3 Perform the steps in the accounting cycle for...
- Q Indigo Holdings accounting records show the following balances on December 31,2025: 11% Preferred stock$100 par value, outstanding 20,000 shares $2,000,000 Common stock$1 par...
- Q The Fresh Detergent Case Enterprise Industries produces Fresh, a brand of liquid detergent. In order to more effectively manage its inventory, the company would like to better predict demand for...
- Q TRUE OR FALSE 77. Of the worlds public company audits, the Big 4 perform 90% ofthem. 78. CPA auditors are liable to their clients for fraud, gross negligence, and ordinary...
- Q Job-Order or Process Costing Discussion: Build Right Company builds houses for customers. The company has a large amount of overhead and is unsure what to charge for building...
- Q Raner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two officesone in Chicago and one in...
- Q On December 31, 2021, Burton, Inc. leased machinery with a fair value of $1,575,000 from Cey Rentals Co. The agreement is a six-year noncancelable lease requiring annual payments of $300,000...
- Q Wolverine Company started the year with $51669 in their Investment account. They sold the investment for $53725 during the year. What is the amount of adjustment to Cash from Operations,...
- Q what excem formula needs to be typed to complete the empty boxes
- Q Wesco Incorporateds only product is a combination fertilizer/weedkiller called GrowNWeed. GrowNWeed is sold nationwide to retail nurseries and garden stores. Zwinger...
- Q Consolidation Worksheet entry #5 is coming up wrong. 3,000 is not correct.
- Q Tubaugh Corporation has two major business segments--East and West. In December, the East business segment had sales revenues of $390,000, variable expenses of $210,000, and traceable fixed expenses of $46,000....
- Q X Company, a merchandiser, had the following transactions in August: Borrowed $23,000 from a bank. Bought equipment costing $9,700, paying the manufacturer $5,600 in cash and promising to pay the...
- Q At the end of 20X8, Bent Angel Ltd.'s statement of financial position showed equipment at total cost of $3,500,000. The equipment was being amortized at 10% per...
- Q Case Study: Change Management and its Implications for Managerial Auditing In the dynamic landscape of business, change is inevitable. Organizations constantly evolve to adapt...
- Q Multiple Choice Question Blossom Co. had Net Sales of $3,600 in 2017 and $4,200 in 2018. It had Total Assets of $1,400 in 2017 and $1,600 in 2018. Total asset...
- Q A company is considering new equipment that will cost $20,000. The equipment will increase capacity and increase contribution margin $4,000 per year through increased sales. The equipment has a 5-year...
- Q 5-29 Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formulas, which it uses to quote jobs. These include costs for...
- Q Required Determine whether the following items included in Wong Companys January Year 1 bank reconciliation will require adjusting or correcting entries on Wongs books. When an entry is required, record...
- Q Discuss any compliance and/or regulatory issues you think would be involved in the companies you have selected as they relate to the cost of the products made. For example, are...
- Q Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $...
- Q Acaba de pedir prestados $3,000 a su banco y acord pagar el inters anualmente y el capital al final de los tres aos. Qu tipo de prstamo obtuvo? A. Solo...
- Q Question 1 Assume the date is 1 October 2021. On 1 January 2021, Windermere bought 24m ordinary shares of Bowness Ltd (Bowness), a supplier of microchips used in the production...
- Q you are selling a car with the following paymemts options. option A : $16,000 today and $15,000 in 12 months. option B: $17,000 today and $14,000 in 14 months. if...
- Q A sales employee has earned $100,000 in 2020 from her employer. This amount represents $72,000 in salary and $28,000 in commissions. This employee has incurred the following expenses in the...
- Q TufStuff, Inc., sells a wide range of drums, bins, boxes, and other containers that are used in the chemical industry. One of the companys products is...
- Q (1) Macrohard Corporation is a new business based out of Puerto Rico that is considering a plan to manufacture and market cellphones in Peurto Rico starting in 2022. However, before...
- Q The following information and assumptions should be sued to complete the Cost-Benefit Analysis: Annual Revenues from the mill average 750 million. Profit margin from the mill is approximately 12%....
- Q JOURNAL ENTRIES REQUIRED - December 14 Issued cheque no. 419 in the amount of $1 070.00 to the Order of the Corpusculaire Regd for various maintenance services provided. This enterprise...
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