Accounting question and answers for November 16, 2023
- Q A company purchased a weaving machine for $223,120. The machine has a useful life of 8 years and a residual value of $12,000. It is estimated that the machine could...
- Q If you were the driver of the trolley, which option would you choose? Would you consider it morally permissible to turn the trolley into the one workman to save the other...
- Q ABC Co. and XYZ, Inc. both engage in the same business. On January 1, 2021, ABC and XYZ signed a contract, the terms of which resulted in ABC obtaining control...
- Q When Craig began operations on June 1, 2026 he contributed his own truck to the business. It was recorded in QB Online at its FMV (fair-market value) of $13,495. This...
- Q You are employed in a health clinic where there are lots of frequently touched surfaces. You are responsible for the environmental cleaning of the workplace to minimise the risk of...
- Q A nutritionist at the Food and Drug Administration is studying the effects of cereal marketing on family meal choices. In particular, she would like to understand how cereal manufacturers market...
- Q On 2015 January 1, Nicola Newman bought machinery for her printing business at a cost of $20 000 and paid with money in the bank. She bought another piece of...
- Q The Smart Company employs 125 people, who are paid every two weeks.The accounting/payroll process is as follows:All employees except the top 5 administrators in the company must punch a time...
- Q Super Discounter Inc. is a merchandizer who had inventory at the beginning of the year of $750,000. They made purchases of $2,200,000 and had returns and allowances on purchases of...
- Q Junior Bodway, Inc., has provided the following budget data:Sales10,000unitsSale priceps50per unitVariable expendsps30per unitfixed expenseps180.000How many units would the company have to sell to have a net operating income of $40,000?
- Q Suppose that you are Chief Financial Officer at a fashion e-retail company.While looking at the traffic and transactions data, you notice that an average of 1,000,000 visitors come to the...
- Q Assume that the following are true: Lease period and useful life is 7 years Rental payment amount is $50,000 per year.With no executory costs included Payment occurs at the beginning...
- Q Graff Company has the following data for the month of November.Graff, Capital, November 1 = $10,000Net Income = $2,000Graff, Withdrawals = $1,200What is the amount of Graff, Capital account as...
- Q Smila Company collects from customers in 60 days and pays to suppliers in 40 days. If its Cash Conversion Cycle for 2021 has 55 days, what is the Average Inventory...
- Q What is the correlation between test 1 scores and test 2 scores?How much variability in test 2 scores is explained by test 1 scores? (Be sure to interpret your numerical...
- Q The Board would also like to know how to account for a number of companies where we own 20% of their shares. We can't valuations for these shares in the...
- Q A factory has 7 female employees and 28 male employees. The boss wants to create a party committee consisting of 5 employees. In how many different ways can the boss...
- Q Mr. Finch, who is a bartender at North Ryde RSL, observed that most of the customers in his bar often orders Malibu Rum during lunch and summer days. However, If...
- Q Barry owns a motor vehicle that cost him R46 500,inclusive of VAT but exclusive of any finance charges. He used his motor vehicle for business purposes during the last seven...
- Q You have been assigned a group project for sociology class where you are asked to determine the eating habits of Americans. A groupmate suggests that you interview everyone in your...
- Q An experiment was conducted to determine the thermal maximum temperature for two different species of ants. Below are 25 random samples from a larger population of the two species.Determine the...
- Q Maju Sdn. Bhd. produces and sells pillows for RM25 per unit. Maju's sales revenue was RM350,000 and its net operating income was RM25,200 for the year. If its fixed costs...
- Q A Perth journalist wanted to write an article on the latest smart watches. In January 2021, he physically visited one major retailer in Perth, and looked at the smart watches...
- Q At the end of the current year, using the aging of receivable method. management estimated that $19350 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments....
- Q What is Petty Cash? How is a petty cash system operated and controlled? Which internal control principles do you think are the most important to safe guard petty cash? Why? What...
- Q ABC Corporation sold merchandise worth $10,000 to a customer on credit terms of 2/10, n/30. The cost of the merchandise sold was $6,000. The customer returned $2,000 worth of defective...
- Q You are an analyst working in the ?nance department of Branson Ltd. Branson is a public listed tour company that is based in Melbourne. One of its main operating businesses...
- Q Trevor Steel owns and manages Fitness Dynamics, which specializes in the design and manufacture of new forms of exercise equipment. Fitness Dynamics sells its equipment to health and fitness clubs...
- Q The Wheel Drive has been a profitable company since it was founded 10 years ago. At the start of the last financial year, the company had doubled the number of...
- Q Cullumber Company received the following selected information from its pension plan trustee concerning the operation of the companys defined benefit pension plan for the year ended December 31, 2020. ...
- Q The key to identifying temporary book/tax differences is to find those book/tax differences that will eventually reverse from favorable to unfavorable or vice versa. For some temporary book/tax differences, the...
- Q The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.10, respectively. The equivalent units to be assigned...
- Q Exercise 9-15 (Algo) Flexible Budget Performance Report in a Cost Center [LO9-1, LO9-2, LO9-3, LO9-4] Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are...
- Q LRF Printing provides printing services to many different corporate clients. Although LRF bids most jobs, some jobs, particularly new ones, are negotiated on a cost-plus basis. Cost-plus means that the...
- Q Kohler Corporation reports the following components of stockholders equity at December 31, 2018. Common stock$20 par value, 100,000 shares authorized, 45,000 shares...
- Q Freon owns 100% of Froze. Before consolidation, Freon reports sales of $10,000,000 and COGS of $6,000,000. Froze reports sales of $2,000,000 and COGS of $1,400,000 During the current year, Froze...
- Q On 01 July 2020, Sunshine Manufacturing Ltd acquired all the issued shares of Gold coast Ltd for $227,000. The equity of gold coast at this date is as follows: Share...
- Q Write a program that asks the user to enter the month (letting the user enter an integer in the range of 1 through 12) and the four-digit year. The program...
- Q Despus de completar la pantalla de entrada Wage W-2, aparecer un cuadro emergente cuando haga clic en Siguiente. Cul es el propsito del cuadro emergente? Inscribir al contribuyente o...
- Q Required information Problem 8-58 (LO 8-2) [The following information applies to the questions displayed below.] Olga is married and files a joint tax return with her husband. What...
- Q PLEASE HELP, URGENT! Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. (Product, Quantity, Unit Cost, Unit Replacement Cost, Unit Selling Price) (A...
- Q For each of the following businesses, explain how a purchase journal might be modified for the specific business. 1. North County Medical Center 2. Tri-County Farms, Inc. 3. Prescotts Quick...
- Q Ryan's client told him that he had additional income for a side job but does not want to report the income since he is paid under the table and he...
- Q Project guidelines Auditing ACC405 Choose any commercial company operating in the UAE and implement case study research aiming at understanding its internal control activities and demonstrating how these activities can...
- Q a. Explain what you understand by the term Prime Cost.(3 marks) b. Sketch a graph that depicts the following types of costs. i. Variable...
- Q 1. Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales $1,224,000 Variable cost...
- Q Sweet Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31, 2020. Annual rental payments of $55,000 are to be made at the beginning...
- Q Williams Incorporated produces a single product, a part used in the manufacture of automobile transmissions. Known for its quality and performance, the part is sold to...
- Q Phone Corporation acquired 70 percent of Smart Corporations common stock on December 31, 20X4, for $93,100. At that date, the fair value of the noncontrolling interest was $39,900. Data from...
- Q Compaa Solar presupuesta produccin de 10.000 paneles solares en julio. Si cada unidad requiere 8 horas de mano de obra directa a razn de $32 por hora, entonces el costo...
- Q What industry is likely to have to lowest inventory turnover? a. Aged scotch production b. grocery stores c. computer parts d. automobile sales
- Q 15. Reasons a parent company may pay more than book value for the subsidiary company's stock include all of the following EXCEPT: A) the fair value of one of...
- Q The Company produces a product requiring 4 lbs of materials costing $3,50 per pound. During December, Company purchased 4200 pounds of materials for $14,112 and used the material to produce...
- Q Brocken Co. has the following data related to an item of inventory: Inventory, May 1 3,000 units @ 4.20 Purchase, May 7 10,500 units @ 4.40 Purchase, May 16...
- Q The March 31, 2020, adjusted trial balance for Amusement Park Repair is shown below with accounts in alphabetical order. Debit Credit...
- Q On July 15, 2024, the Niche Car Company purchased 1,300 tires from the Treadwell Company for $60 each. The terms of the sale were 4/10, n/30. Niche uses a perpetual...
- Q **International Accounting Standards and Regulations: A Comprehensive Case Study** *Introduction:* As businesses operate in a globalized economy, adherence to international accounting standards and regulations becomes paramount. This case study examines...
- Q Compute ROE and Nonoperating Return with Negative NNO and No Noncontrolling Interest Refer to the balance sheets and income statement below for Facebook Inc. FACEBOOK INC. ...
- Q Describe what you feel is the importance of the information systems in the modern organization. Why? In 200-250 words
- Q Jay Banning, CEO and a major stockholder of Banning Inc., was unhappy with its operating results for the past year. The company manufactures two environmentally friendly industrial caliber cleaning machines...
- Q Michael Company emiti bonos al 8% con un valor a la par de $1,000,000, recibiendo una prima de $20,000. En la fecha de inters 5 aos ms tarde, despus de...
- Q En un plan de cuentas que utiliza tres dgitos para cada cuenta, cada dgito numrico tiene un significado para los usuarios del AIS. Por ejemplo, un dgito numrico puede representar...
- Q Ryan, Inc. purchased a delivery truck with a $48000 list price. The company was given a $4800 cash discount by the dealer, and paid $2400 sales tax. Annual insurance on...
- Q discuss the advantages and disadvantages of trading as a sole proprietor and as a private company.
- Q Sales for the year = $246,687. Net income for the year = $22,965. Average Assets during the year = $136,357. Return on Assets (ROA) for the year is
- Q The geological consulting firm of Gilbert, Marsh, & Kester prepares adjusting entries on a monthly basis. Among the items requiring adjustment on December 31, year 2, are the...
- Q Discuss why municipal bonds are not considered to be default risk-free. What is the difference between municipal bond and corporate bond? Discuss 3 benefits that corporations enjoy when issuing bonds...
- Q The famous Irish singer Carrie OKee is about to embark on her fifth (5th) and final farewell tour. Due to popularity this final farewell tour will run for 4 years...
- Q https://media.cheggcdn.com/media%2Fbb6%2Fbb618d2e-b515-440d-867d-f7fc52c5cc75%2FphpS2RVJJ.png
- Q CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing...
- Q Management Accounting: Case Study Company Coco Company Coco is a luxury chocolate manufacturer, which has recently been performing well. The board of directors is considering how it should expand the...
- Q what are quick assets in accounting?
- Q Question 4 (1 point) Jackson Company recorded the following transactions for the year: $267.000 net sales $107,000 cost of sales $92,400 net Income $108,950 net cash from operating activitles $130,400...
- Q Cul de los siguientes no es uno de los beneficios fiscales comnmente llamados "prrroga" para el ao fiscal 2022? Un crdito de propiedad de energa no comercial B...
- Q Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The companys planning budget for...
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