Accounting question and answers for November 18, 2023
- Q Question 1 A production cost center charged budgeted overheads to cost units using a machine hour rate based on the following estimates: Total machine hours 1,000 Total oveheads $15,000 A...
- Q Mario's Lumber produces the following types I wooden boards: washed, stained and pressure treated. These products are handled as a single batch until they are cut. One batch produces 90...
- Q Looking at Apple INC., think about the types of financial data that would be included and excluded in differential analysis. Propose which specific revenues and costs should be considered in...
- Q What is meant by the term sales mix? How does sales mix affectthe calculation of the break-even point?
- Q This is a debenture for which the company does not keeps any records and which can be transferred without any formal notice the debenture is- A. General debenture B. Convertible...
- Q can you provide list of all temporary and permanent accounts in Accounting? (including unearned and prepaid accounts)
- Q Record the following journal entries for each transaction (4 journal entries total) 1. Record the investment in Lake Construction shares. 2. Record the investment revenue. 3. Record the...
- Q An entity purchased an asset on january 1, 2018 for 300,000. The asset is being depreciated on a straight line basis over 10 years. The asset's residual value is 50,000....
- Q Simple Simon's Bakery purchases supplies on terms of 1.4/10 comma net 25. If Simple Simon's chooses to take the discountoffered, it must obtain a bank loan to meet its short-term...
- Q Brown a sold personal investment in Amazon.com (NASDAQ: AMZN) stock, receiving $34,000 cash. March 2 Deposited the $34,000 cash from the sale of the...
- Q completed 4.2 hours of service work for customer hank cobb. hank also purchased a new starlight trailer. the selling price for the trailer is 1,485. be sure to include the...
- Q identify the Responsibilities of stakeholders in company performance?
- Q family foods received an invoice dated july2 from Kraft Canada in the amount of13002. 96 with terms of 2/15, 1/30, n/45 EOM and a late penalty of 2%per month. what...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Boss Stores, Incorporated Selected financial information ($ millions) ...
- Q Prepare journal entries on the appropriate dates for the 2024 dividends.Headlands Limited has the following information available regarding its share capital at December 31,2023: Preferred...
- Q Barbaras household income in 2023 is 150% of the federal poverty line and she purchased health insurance coverage through the ACA marketplace whose premium does not exceed the premium for...
- Q Jackson Enterprises has the following capital (equity)accounts: Common stock ($1 par; 100,000 shares outstanding) $100,000 Additional paid-in capital 200,000 Retained earnings 225,000 The board of directors has declared a 20...
- Q What are the principal differences between activity-based costing (ABC) and traditional product costing
- Q Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials...
- Q An asset is in the MACRS 5-year property class and is being depreciated using the MACRS tables. The tax rate is 30%. The depreciation deduction for this asset in year...
- Q Ivanhoe Company has 620000 shares of $10 par value common stock outstanding. During the year Ivanhoe declared a 13% stock dividend when the market price of the stock was $47...
- Q In 2018, Uniontown Books had EBIT equal to -$1,200,000. In 2019, its EBIT was $1,800,000. The company has no debt, and therefore, pays no interest expense. Its corporate tax rate...
- Q The income statement and the cash flows from operating activities section of the statement of cash flows are provided below for Syntric Company. The merchandise inventory account balance...
- Q My Question is: A statement of cash flows typically would notdisclose the effects of a. captial stock issued at an amount greater than parvalue b. stock dividends declared c. cash...
- Q If the accounting methods used are in accordance with GAAP, is management doing anything wrong by choosing the ones that make their numbers look best? Why or why not? Company...
- Q in New York an agency relationship may only be valid if established in writing True or False, please explain
- Q where is direct labor credited from when moving to work in progress?
- Q Bonnie Company has a direct labor standard of 23 hours per unit of output. Each employee has a standard wage rate of $18.00 per hour. The standard variable overhead rate...
- Q 63. In a statement of cash flows, a company investing in short-term financial investments and in fixed assets results in A. increased cash B. decreased cash C. increased liabilities D....
- Q Rubys & Rings Inc. offers a two-year assurance warranty against failure of its products. The estimated liability is 4% of sales in the year of sale and 6% in the...
- Q The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing...
- Q 10. If adequate maintenance expenditure is incurred, there is no need of charging depreciation. a. True b. False
- Q Which of the following would probably be the most significant type of a claim held by a company? A. non-trade receivables B. notes receivable ...
- Q x
- Q Tolik's car is insured with the South Pacific Insurance Company. The car is damaged in a collision with a car driven by Terry who fails to give way at a...
- Q How much would you need to deposit in a savings account that earns 7%, compounded annually, to withdraw $32,000 eight years from now? (Future Value of $1, Present Value of...
- Q Please answer with reason for all why the option is correct and why the other options are incorrect 52.Which error cannot be revealed on the preparation of trial balance? A.Wrong...
- Q The Bookkeeper for Oglesby Company asks you to prepare thefollowing accrued adjusting entries at December 31.1. Interest on notes payable of $400 is accrued. 2. Services provided but not recorded...
- Q Registramos un activo a largo plazo a su costo menos todos los gastos necesarios para que el activo est listo para su uso. Verdadero FALSO
- Q La siguiente informacin es del balance de Tudor Corporation al 31 de diciembre de 2014. Acciones preferentes, $ 100 a la par $ 500,000 Capital pagado en exceso de la...
- Q this
- Q Problem 3-16(Algo) Comprehensive Problem [LO3-1, LO3-2, LO3-4] Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The...
- Q The key audit matters of the audited client. Briefly introduce the key audit matters and justify the reasons for their significance as the key audit matters. (500 words, approximately)
- Q Mr Darden sold his house for $165,000. He bought it for $55,000 nine years ago. What is the annual return on his investment? (Convert this problem into a present value...
- Q The income statement reporting for other post-retirement benefits (OPEB) is based on the Group of answer choices a. accrual basis of accounting b. cash basis accounting c. cash or accrual...
- Q BuyCo is a privately held technology developer and manufacturer in the transportation industry. On October 31,20X1, BuyCo entered into an agreement with SellCo to ...
- Q If you got the interest rate that synchrony Bank was offering for a different length of time how long would yo need to invest to get that $80 you have...
- Q 10. If adequate maintenance expenditure is incurred, there is no need of charging depreciation. a. True b. False
- Q Last year Artworks, Inc. paid a dividend of $3.50. You anticipatethat the company's growth rate is 10 percent and have a required rate of return of 15 percentfor this type...
- Q accounting
- Q During the planning stage of an audit, the auditor has to decide on the Audit Approach. Discuss the different approaches and how the auditor decides which approach to take.
- Q Describe how use of absorption costing in determining income can lead to overproduction and a buildup of inventory. Explain how variable costing can avoid this same problem.
- Q Blackstone, Inc. has a five-year bond outstanding that pays $60annually. The face value of each bond is $1,000, and the bond sells for $890. a. What is the bond's coupon...
- Q SB 131 recently expanded the New Employment Credit (NEC) to include additional taxpayers. Now, taxpayers in certain industries that operate in any part of the state can qualify for the...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: ...
- Q True or false? When evaluating the cash flows from an investment, A reduction in cash outflows is treated as the same as an increase in cash inflows
- Q CAREMED: IMPORTING MEDICAL SUPPLIES AHEAD OF A PANDEMIC THE DATE IS JANUARY 2022 CareMed Inc. sells a wide range of personal protective gear, medical devices, and other medical supplies used...
- Q Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services...
- Q Which of the following funds are classified as fiduciary funds? Group of answer choices Trust and agency funds. Internal service and enterprise funds. Capital projects and debt service funds.
- Q Discuss whether or not you believe the cash flow statement is a useful tool for evaluating company performance. Provide an example to support your rationale.
- Q What is Todd's taxable income? $96,833 $141,293 $157,953 $159,726
- Q (a) What is the difference between supplies and supplies expense? (b) Why do we use/need both accounts?
- Q Deleted. Thanks.
- Q Question 7 of 21 Which type of referencing occurs in the formula, = $F$12/$G$1 + $M$2 ? Select an answer: relative mixed absolute
- Q Ivanhoe Corporation had the following information in its financial statements for the year ended 2025 and 2026: Common cash dividends for the year 2026 $19600 Net income for the year...
- Q let's say you work for XYZ, Corp and you travel to St Louis to get a new client to sign a contract to purchase products from your employer. You are...
- Q While performing preliminary analytical procedures, you note that the client's industry is more stable this year versus last year and that the current years profitability level is in line with...
- Q x
- Q If $1 million face amount of commercial paper (270-day paper) issold for $982,500, what is the simple rate of interest being paid? What is thecompound annual rate
- Q Assume that a company has forecasted 5,800 units sold, has an average selling price of $25.00 per unit, unit variable cost of $10.00 per unit, and a total fixed cost...
- Q x
- Q A company just starting business made the following four inventory purchases in June: {June 1st: 150 units for $780} {June 10th: 200 units for $1,170}{June 15th: 200 units for $1,260}{June...
- Q Environmental remediation costs have become increasingly prevalent in the past few decades. Conduct research in the Accounting Standards Codification to address the following requirements. Also, please be sure to provide...
- Q The Consumer Products Division of Goich Corporation had average operating assets of $1,100,000 and net operating income of $111,900 in May. The minimum required rate of return for...
- Q Dauber Inc. budgeted production of 54,000 personal journals in 20Y6. Each journal requires assembly. Assume that two minutes are required to assemble each journal. If assembly labor costs $11.50 per...
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