Accounting question and answers for November 17, 2023
- Q The following balances were extracted from the accounting records of Impala Ltd for the financial year ended 28 February 2022: Revenue ...................................................................................................... Administrative expenses: ............................................................................ R Dr / (Cr) (11...
- Q 14) The arrangements between buyer and seller as to when payments for merchandise are to be made are called * 2 points A) credit...
- Q 9) What are the four key broad accounting principles that guide accounting practice? Briefly explain each one.
- Q 1. La utilidad integral se diferencia de la utilidad neta en que incluye eventos que se reconocen pero no se realizan. Seleccione uno: Verdadero FALSO 2....
- Q Negocios y Sociedad -Asunto Estudio de caso 3 Colapso en Rana Plaza El derrumbe mortal del edificio de una fbrica de prendas de vestir en Bangladesh suscita un...
- Q Does a C-corporation have AGI or just taxable income
- Q Question Content AreaAnya owns land with an adjusted basis of $305,000, subject to a mortgage of $175,000. On April 1,2024, Anya sells her land subject to the mortgage...
- Q un comprador desea colocar un depsito en efectivo de $5,000 en una propiedad. el licenciatario a quien se hace el pago debe proporcionar al comprador una
- Q Paul and Lois Lee, both age 50, are married and filed a joint return for 2024. Their 2024 adjusted gross income was $145,000, including Pauls $140,000 salary. Lois...
- Q The heading of an income statement should include ______.(Select all that apply.) Multiple select question. the accounting period covered by the statement ...
- Q Paying by check helps a business to control cash when the Blank______.(Select all that apply.) Multiple select question. check is signed by an authorized manager ...
- Q Information is provided to you showing results for the past two periods. P1 P2 Sales $ 400.00 $ 500.00 Costs $ 80.00 $ 95.00 Analyse the results and select the...
- Q When all of a companys job cost sheets are viewed collectively they form what is known as a _________blank. multiple choice 3 general ledger...
- Q Give an exaample of how a Master Budget is useful in accounting
- Q On January 1,2015, Grant Corporation was incorporated. Grant had $810,000 in assets, $210,000 in liabilities, $200,000 in common stock and $360,000 in additional paid-in...
- Q Rock Ltd issued 180 000 7% cumulative preference shares at R5 each, on the 1 January 2022. During the 2022 financial year, Rock Ltd did not have sufficient funds to...
- Q Maxim Corporation has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 220 $144 6/5 Purchase 420 $164 11/10...
- Q 1. Create an Excel spreadsheet and use it to submit your answers. 2. Using the tables in IRS 2021 Publication 946 pages 70-72, calculate depreciation for the farm assets...
- Q Which of the following is used as the basis for posting to the direct materials section of the job cost sheet? Multiple Choice Purchase requisition ...
- Q During the current year, Dirk's toilet overflowed due to a pipe breaking during a nationally declared earthquake disaster. View the additional information.LOADING... What amount of the...
- Q A good system of internal control is designed to achieve all of the following except a. Efficiency of operations b. Reliability of financial reporting c. Compliance with relevant laws and...
- Q Identify and discuss the purchase to pay cycle model details Identify and discuss the purchase to pay cycle model in details
- Q A single self-employed taxpayerwants to set up a SEP plan and to maximize the amount of their contributions for the year. They made $150,000 in net self-employment. What...
- Q Trek Company tiene los siguientes datos de produccin para abril: unidades transferidas 40 730 y trabajo final en proceso 6 020 unidades que estn 100 % completas para materiales y...
- Q Globex Corporation is a high-tech company that owns 100% of the stock of Cyprus Creek, Inc. (CCI). Globex has owned CCI for over 20 years. CCI is in the business...
- Q Underapplied overhead occurs when the balance in the Manufacturing Overhead Control account is: Multiple Choice greater than the balance in the Applied Manufacturing Overhead account. ...
- Q Listed below are the steps in the accounting cycle: 1. Analyze business transactions. 2. Journalize the transactions. ...
- Q In a defined benefit pension plan, the journal entry to record benefits paid to retired employees will include a: Question 47 options: debit to projected...
- Q During the current year, Dirk's toilet overflowed due to a pipe breaking during a nationally declared earthquake disaster. View the additional information.LOADING... What amount of the...
- Q A loss contingency should be accrued when the amount of loss is known and the occurrence of the loss is:
- Q On January 1st, 2022 Jills Inc. issues 1,000 6% 1,000 face value bonds at par with 10 years maturity. Interests are to be paid each June 30 and December 31...
- Q The process of assigning cost to products or services throughout the value chain is called product costing. Select one: True False
- Q Bonita Corporation purchased a truck by issuing an $94,400,4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 10%. ...
- Q What defines the length of operating cycle
- Q example of deontological ethics
- Q Step 2: Post your answers to the following three (3) questions in the discussion forum. Keep your answer to all questions to around 200 words in total. 1. Of...
- Q 43) Union dues are a deduction that is usually matched by the employer. A) True B) False
- Q Given the following information: Beverage sales are $64,000, accounting for 32% of the total sales; %Food cost is 25% and %Beverage cost is 32%; Expenses are 12% and payroll cost...
- Q Murphy Inc. fabrica un solo producto, DLZ. Murphy utiliza presupuestos y estndares en sus funciones de planificacin y control. Murphy hace uso de sus estndares para derivar su costo presupuestado...
- Q Which checks most concern you in terms of the time it took to be deposited? From an internal control perspective, what check number concerns you as an auditor...
- Q El principio de consistencia establece que: Las empresas tienen prohibido cambiar sus mtodos de contabilidad. Cada empresa en la misma industria debe utilizar el mismo principio de...
- Q Journalize the following transactions for Price Company. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for...
- Q identify whether the account is increased with a debit or credit. a. Interest Revenue b. Accounts Payable c. Klein, Capital ...
- Q What effect would each of the following events likely have on the level of nominal interest rates? 1. Households dramatically increase their savings rate. 2. Corporations increase their demand for...
- Q On January 1st, 2022 Jills Inc. issues 1,000 6% 1,000 face value bonds at par with 10 years maturity. Interests are to be paid each June 30 and December 31...
- Q A difference between the static budget and the flexible budget is called the
- Q Good Energy Group Plc organisational structures and organisational cultures Good energy Group Plc management leadership and change
- Q Fashion Retailers is an unlisted company and is primarily involved in the clothing retail industry. Fashion Retailers intends to expand its operations and issues listed bonds on the Board Exchange...
- Q Un contribuyente individual tena lo siguiente: Ingresos brutos: Filipinas - P700,000 Extranjero - 400.000 Gastos: Filipinas - 380.000 Extranjero - 220.000 ...
- Q Regarding items that would be added back on the M1 schedule, label either "Yes" (it would be added back to net income per books) or "No"(it would not...
- Q Financial statement analysis applies analytical tools to financial statements and related data for making business decisions. Question 1 options: True False
- Q Walton, Inc. no est seguro si vender su producto ensamblado o sin ensamblar. El costo unitario del producto desarmado es de P32, mientras que el costo de ensamblar cada unidad...
- Q Which of the following statements is not true regarding tax credits:Tax credits are calculated based on the lowest marginal tax bracketMost tax credits are non-refundable, meaning the government...
- Q QUESTION 3 It was decided during 2021 to change the method of valuation from WACC to FIFO. The change in the accounting policy has been accounted for in...
- Q Valley Incorporated has three divisions, Almond, Grover and Oak. The following is the contribution margin income statement for the previous year: Almond Grover Oak Total ...
- Q Hero Corporation emiti 1,000 acciones con par P5 a Atty. Carson como compensacin por 1,000 horas de servicios legales realizados. El valor razonable para este tipo de servicio asciende a...
- Q When a company purchases inventory on account, the impact on the financial statements is
- Q On January 1st Frooster, Inc. contracts a 4 years loan for 43,000 with 9% interest rate to finance the purchase of a truck The loan will be repaid with monthly...
- Q The retained earnings balance reported on the balance sheet has been updated for the current periods earnings and dividends. true or false
- Q Q1. What are the substantive analytical procedures used to test the revenue process? Explain what assertions about class of transactions the auditor applies to collect the evidence. Your answer should...
- Q Financial statement analysis applies analytical tools to financial statements and related data for making business decisions. Question 1 options: True False
- Q As the auditor of clearwarter county, you learn that various assets are subject to spending constraints. Indicate how each of the following constraints would affect they company's reported fund...
- Q Bancroft currently manufactures a subcomponent that is used in its main product. A supplier has offered to supply all the subcomponents needed at a price of $240. Bancroft currently produces...
- Q Al vender productos "a cuenta", cules son las cuatro cuentas tpicas del libro mayor que se ven afectadas? Explique las diferentes columnas del informe del Diario. Los dbitos totales y...
- Q Bancroft currently manufactures a subcomponent that is used in its main product. A supplier has offered to supply all the subcomponents needed at a price of $240. Bancroft currently produces...
- Q 16) Cost of goods sold is A) total cost of inventory purchases during the period. B) total cost of returns for the period....
- Q Your supervisor has given you a number of rejected claims and asks you to determine why the claims were denied and to maintain a log of these reasons to...
- Q Closing the temporary accounts at the end of each accounting period serves to transfer the effects of these accounts to the proper equity account on the balance sheet. trur...
- Q Explain how the fair value method is an improvement over the intrinsic value method.
- Q Mobile Lid acquired 30% interest in Phone Lid for $180,000 on 1 uly 2017 Protits at Oridends for Phone l.id for years endes 30 Jase 2018 10 2019 wer as...
- Q PROBLEM 4-4 Consolidated Workpaper, Partially Owned Subsidiary, Cost Method LO 5 Place Company purchased 92% of the common stock of Shaw, Inc. on...
- Q The retained earnings balance reported on the balance sheet has been updated for the current periods earnings and dividends. true or false
- Q The phrase "ordinary and necessary" means that an expense must be appropriate in and helpful for generating a profit.
- Q Derik Incorporated, a calendar year, accrual basis corporation, accrued $278,000 vacation pay expense and a corresponding liability at the end of 2024. Derik paid $22,000 of the accrued...
- Q The Ombudsman Foundation is a private nonprofit organization providing dispute resolution and conflict management training. The Foundation had the following preclosing trial balance at December 31,2024, the...
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