Accounting question and answers for November 17, 2023
- Q QUESTION: State the applicable cancellation charges/refund in the following circumstances below: a) Lina bought a tour package to Perth for RM5,000 from Crystal Holidays. The departure date was 3 May....
- Q Why is this not balancing? Debits Credits Cash 497,300 Marketable Securities 20,000 Accounts Receivable 166,000 Allowance for Uncollectible...
- Q how do you calculate the rent expense done in step 12
- Q A minority ownership interest generally occurs when an investor owns less than which of the following percentages of the stock of an investee company? Multiple Choice ...
- Q Case 2 Apple year end 9//24//2022 - Read A i (1) This question will be sent to your instructor for groding. Summary. Your superior asks you to analyze Apple's financial...
- Q On August 1, Batson Company issued a 60-day note with a face amount of $63,000 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest computations.)...
- Q Present Value of Bonds Payable; Premium Moss Co. issued $130,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%. Determine the present value...
- Q Fly airplane has sales of $864,400, total assets of $647,200, and a profit margin of 8.2 percent. The firm has a total debt ratio of 46 percent. What is the...
- Q I need help answering these questions. There are 5 parts to it As part of the fieldwork of an audit engagement, the senior on the audit obtained and...
- Q Item 7 Under a divorce decree executed in 2019, Duron is required pay $800 of alimony and $400...
- Q Break-Even Sales and Sales to Realize Income from Operations For the current year ended October 31, Friedman Company expects fixed costs of $488,000, a unit variable cost of $41, and...
- Q Monika's Cookie has cash of $1,200, accounts receivable of $870, accounts payable of $560, and inventory of $1,084. What is the value of the quick ratio? Hint: Current assets...
- Q Gold Nest Company of Guandong, China, makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions...
- Q How can/should responsibility center managers be "helped" on how to use this information in the best possible way within their individual responsibility centers.
- Q Record 5 adjusting entries in the general journal and post them to the ledger accounts and include narrations and dates. Then prepare the adjusted trial balance. ...
- Q In 2021, Wesley Pickett has a modified adjusted gross income of $58000. During the year he paid $5000 of student loan interest. What amount can Wesley deduct from his taxable...
- Q Company X has trade credit policy 1/10 N45. If you can borrow from a bank at 9,5% annual rate, would it be beneficial to borrow money and pay off invoices...
- Q Information for two alternative projects involving machinery investments follow. The accounting rate of return for Project 1 is: Year Project 1 Project 2 Initial investment $ (410,000) $ (350,000) Salvage...
- Q List two of the most common types of pay period frequencies. What are expense reimbursements, allowances and four categories of employment? provide example for an allowance.
- Q Rayya Company purchases a machine for $117,600 on January 1, 2021. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine...
- Q Assume you are the bookkeeper for Vivien's Wholesalers, a distributor of kitchen furniture. Your sales manager informed you that Ted's Retailers is unhappy with the quality...
- Q write one of your bussiness idea proposal and Title must relate to the stream of SDGs(sustainable development goals)
- Q 1.Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$211Units in beginning inventory200Units produced1,810Units sold1,120Units in ending...
- Q Last year Robert transferred a life insurance policy worth $59,625 to an irrevocable trust with directions to distribute the corpus of the trust to his grandson, Danny, upon his graduation...
- Q The Regal Cycle Company manufactures three types of bicyclesa dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter...
- Q Consider the following financial information and answer the questions that follow: Sales : $250,000 Costs : $134,000 Depreciation : $10,200 Operating expenses : $6,000 Interest expenses : $20,700 Taxes :...
- Q Tinys Cabinets sells cabinets for $500 each. Variable cost is $300 each. Annual fixed costs are $20,000. If Tiny sells 120 cabinets, what is his operating income (O I)
- Q Tax _______ occurs when taxpayers legally apply tax law to reduce or eliminate taxes payable in ways that the Canada Revenue Agency (CRA) considers potentially abusive of the spirit of...
- Q Crane Company issued $610,000, 10%, 10-year bonds on December 31, 2021, for $540,000. Interest is payable annually on December 31. Crane Company uses the straight-line method to amortize bond premium...
- Q Question Content Area Activity-Based Customer Costing Sleepeze Company produces mattresses for 20 retail outlets. Of the 20 retail outlets, 19 are small, separately owned furniture...
- Q which of the following represents is a true statement regarding bank confirmations? I.generally accepted auditing standards(GAAS) require auditors to obtain bank confirmation for the audit of non-public entities. II. Bank...
- Q which is more advantageous to an investor in terms of assessing a company's growth position - basic EPS or diluted EPS? why?
- Q Match the term with the correct definition. Group of answer choices Section 179 Expensing [ Choose ] Bonus Depreciation [ Choose ] Listed Property [ Choose ] Form 4562 [...
- Q please answe step by step for inventory record ou work for a CPA firm that has been hired by Widget Tek Inc., a merchandising company that is getting ready...
- Q 1. Why is the current inflation in Canada much higher than this target of 2% (5 marks) 2. Use the Keynesian and AS/AD models to explain in detail how the...
- Q In 1928, Thomas Welch earned $26,178 in commission from his grain business, which he operated as a sole proprietor. In that same year he paid$11,068 to creditors of a bankrupt...
- Q Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1,20Y5, are as follows: Common Stock, $10...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Conroy Company manufactures two productsB100 and A200. The company...
- Q Clientele effect, tax differential, agency cost, and information asymmetries affect the dividend value perceived by investors". Express your views on this statement. Justify your answer citing appropriate examples from Saudi...
- Q Juniper Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $440,000 on sales of...
- Q Explain why standardised forms and prenumbered documents should form part of a good system of internal controls in the revenue cycle in a sports club.
- Q An energy saving device will save $25,000 per year for 8 years. How much can a company pay for this device if the interest rate is 15%?
- Q During the first quarter, France Company incurs the following direct labor costs: January $53,600, February $51,700, and March $70,700. For each month, prepare the entry to assign overhead to production...
- Q In regard to capital gain reporting in 2020, which one of the following statements is CORRECT? A. The reduced capital-gains tax rates apply to all net capital gains. B. Net...
- Q A company sells a plant asset which originally cost 630,000 for 210,000 on December 31, 2020. The Accumulated Depreciation account had a balance of 252,000 after the current year's...
- Q Short Company purchased land by paying $26,000 cash on the purchase date and agreed to pay $26,000 for each of the next six years beginning one-year from the purchase date....
- Q If a capital asset is retired before it is fully amortized, and the residual value received is less than the asset's book value, a gain on disposal occurs. a...
- Q John is a teacher at a local high school. During 2017, he travels three days per week to a school in the next county to work with gifted children in...
- Q A manufactures two products chair and table and estimated the overhead cost in assembling department to be $200,000. The company produces 150,000 tables and 125,000 chairs. It takes two parts...
- Q Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April...
- Q Washington Company had the following sales and purchases during 2009, its first year of business. January 8 February 20 April 13 June 28 August 2 November 24 Purchased 125...
- Q For this Assignment you are going to find and run 20 unique Cmdlets, pipe them to another Cmdlet that changes a value, and provide a description underneath about what your...
- Q Political, Economic, Social, and, Technological risk (PEST), all represent major challenges to society in general and to the Accounting profession. Identify one of these challenges, and explain how developments in...
- Q X Company makes two products, A and B, and uses an activity-based costing overhead allocation system, with three cost pools and three cost drivers. Budgeted costs and driver information for...
- Q routman Corporation realized $12,500,000 of taxable income from the sales of its products in States A and B. Troutman's activities in both states establish nexus for income tax purposes. Troutman's...
- Q On October 1, 2016, Donna Equipment signed a one-year, 10% interest-bearing note payable for $43,000. Assuming that Donna Equipment maintains its books on a calendar year basis, how much interest...
- Q What is the tax treatment to a partner who receives a liquidating distribution assuming the partnership has made a Section 754 election. The distribution was cash of $10,000 and capital...
- Q What was your overall impression about marketing prior to taking this class? Has your impression changed? How? Do you think marketing is sales, sales is marketing? Must elaborate.
- Q Discuss briefly the key elements of the revised COSO Framework
- Q Is there any difference between Vietnam GAAP and IFRs in accounting treatment for Leases? Evaluating the impact of that difference
- Q Key Graphics expects to finish the current year with the financial results indicated on the worksheet given below. Develop next years income statement and ending balance sheet using that information...
- Q SMC, Inc. Post-Closing Trial Balance December 31,2023 Debits Credits Cash ......................................................................................................... $34,500 Accounts Receivable............................................................................... 25,000 Inventory ..................................................................................................10,000...
- Q Which is appropriate for a profit and loss statement? a. as of August 30 20XX b. August 30, 20XX c. for the Quarter Ended August 30, 20XX d All of...
- Q Use the following information to answer parts (iii) and (iv) XYZ Ltd is based in Fiji. It owns and trades shares in several other companies, some of which are listed...
- Q A 6-column spreadsheet for Baldwin Company is shown below: Baldwin Company End-of-Period Spreadsheet For Year Ended December 31, 20-1 Trial Balance Adjustments...
- Q 1. Produce a diagram like that discussed in class that illustrates the demand for a monopolists output by two different types of consumers. The first consumers demand for the monopolists...
- Q Crown Corporation has a total of 400 shares of stock outstanding. Crown Corp redeems 100 shares from its sole shareholder- Charles. Charles' basis in his 400 shares...
- Q ABC Partnership had three partners, whose capital balances at June 30 were as follows: Allan $50,000, Bart $35,000 and Charles $22,000. The profit-sharing ratio is 6:4:2 (Allan, Bart, Charles)....
- Q The ending retained earnings balance of Beamer Inc. decreased by 1 million from the beginning year. The company declared a dividend of 5.4 million during that year. What was the...
- Q Which of the following is not an example of a period cost for a manufacturing plant? a. Assembly line workers' wages b. Office rent c. Depreciation of office machinery d....
- Q At Resource Grocery, shoppers unload their groceries for a sales clerk to process to receive payment. The sales clerk enters the sale in a cash register and puts the money...
- Q Question 1: Hex Ltd is considering several plant improvements and has allocated $880,000 for this investment. The following options / projects are under consideration. Assume that the net annual cash...
- Q Heather Products expects the following sales of its single product: Units June 23,000 July 24,000 August 25,500...
- Q The account(s) that may be reconciled is (are)---- a.balance sheet account b.Profit&loss account c. The customer list account d. trial balance account
- Q Consolidated Aluminum is considering the purchase of a new machine that will cost $308,000 and provide the following cash flows over the next five years: $88,000, 92,000, $91,000, $72,000, and...
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