Accounting question and answers for November 18, 2023
- Q what is inventory an example of
- Q Conversion Date refers to the: Date the manual books are changed to computer records. Date the computer records are adjusted monthly. Date the computer records are backed up to storage...
- Q Explain the factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned...
- Q A first-in, first-out (FIFO) process cost system is used to account for the cost of producing a chemical compound. As part of production, Material B is added when the goods...
- Q Contradictory Evidence Auditors have a responsibility to remain alert to audit evidence that contradicts other audit evidence obtained. The application of professional skepticism is essential to the critical assessment...
- Q True/false 1. Ratios and various other anayltical measures are not a substitute for sound judgement, nor do they provide definitive guides for action. 2. In computing the ratio of net...
- Q through recognition of reported losses as well as permanent drops in fair calue, the investment account can eventually be reduced to a negative number true or false
- Q Grocery Corporation received $321,981 for 12.00 percent bonds issued on January 1, 2021, at a market interest rate of 9.00 percent. The bonds had a total face value of $270,000,...
- Q Koch traded Machine 1 for Machine 2 when the fair market value of both machines was $49,850. Koch originally purchased Machine 1 for $75,300, and Machine 1's adjusted...
- Q Bank A offers the following terms for a $10 million loan: * interest rate: 8 percent for one year on funds borrowed * fees: 0.5 percent of the unused balance...
- Q which of the following statements concerning business organizations is false
- Q Danny's Bank agreed to a loan modification on his principal residence that resulted in a cancellation of debit of 20,000 and enabled him to keep his home which of the...
- Q QUESTION 4 Definition and recognition of financial statement elements Golden Wattle Accountants Ltd was established on 1 June 20X6. On 1st June the office manager prepaid insurance worth $1 200...
- Q Enumere varios posibles generadores de costos que puede utilizar una lnea de cruceros como Disney. Enumere los posibles generadores de costos que puede utilizar una empresa como Albertsons. Discutir la...
- Q Olrect materials Direct labour nineter Supervisor's matacturing overhead General factory salary Total unit overhead 5 3 1 1 2 2.13 An external supplier has olfered...
- Q Harmax Limited spent $5,000 registering an internally developed patent and then another $20,000 defending and enforcing the patent in its first year. How should the patent be reflected in the...
- Q what is the difference between internal and external audit
- Q All of the following are components of an IP address, except
- Q What responsibilities does management have in budgeting
- Q At December 31, 2020, the balance sheet of Meca International included the following shareholders' equity accounts: Shareholders Equity ($ in millions) Common stock, 55 million shares at $1 par $...
- Q The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY...
- Q What is a translation adjustment? How is it computed? Where should it be reported in a set of consolidated financial statements? How might it differ in different companies and in...
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- Q 47. The Gardner Company espera ventas para octubre de $248,000. La experiencia sugiere que el 45% de las ventas son al contado y el 55% al crdito. La empresa cobra...
- Q The balance sheet is illustrated below. Cash Rs. 10,000 Inventory Rs. 5,000 Accounts receivable Rs. 5,000 Investments in stocks Rs. 1000 Prepaid taxes Rs. 500 Current liabilitiesRs. 15,000 Quick ratio...
- Q Matt is 46 years old and has a certified statement from his optometrist on December 1, 2022, that confirms he can see no better than 20/250. For tax year 2022,...
- Q Walsh Company manufactures and sells one product. The following information pertains to each of the companys first two years of operations: Variable costs per unit: ...
- Q In year 2020, Mr. Happy received gross receipts from his clients in the amount of 100,000. He incurred expenses of $30,000, which he paid in 2020. If Mr. Happy is...
- Q How do you modify the organization of a Pivot Table? Select an answer: Insert summary rows and columns using formulas. Select all the data and...
- Q 4 puntos Pregunta 7 Cul de los siguientes es un ejemplo de un producto intangible? Respuesta hamburguesas computadoras automviles cuidado dental
- Q QUESTION 7 Identify seven non-cash items in the financial statements other than depreciation and amortisation. (7 marks)
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- Q In 2020, Bianca earned a salary of $165,000 from her employer. Round your answer to whole dollar amount, if necessary. Determine the amount of FICA Social Security taxes and Medicare...
- Q A company decides to switch from FIFO to LIFO. Inventory is valued at $482,000 under FIFO and $467,000 under LIFO. Prepare the journal entries for this change. How is...
- Q Discuss how Congress encourages or discourages certain spending behaviors through tax policy. There have been many discussions in this country espousing movement to the Value Added Tax (VAT)....
- Q Answer the following questions: a) Analyze what is their meaning, how they are connected with each other and where can be located in the balance sheet or income statement of...
- Q Golden Enterprises started the year with the following: Assets $115,000; Liabilities $40,000; Common Stock $70,000; Retained Earnings $5,000. During the year, the company earned revenue of $6,100, all of which...
- Q The farm has a dent to quit a ratio of .5 the cost of equity is 22% and it's cost of the debt is 16% if the corporate tax rate...
- Q Market Segment Sales Gross Margin Gross Margin Percentage Big Box Segment $11,124,000.00 $3,924,000.0035.28% Retail Pharmacy Segment $9,450,000.00 $3,450,000.0036.51% Independent Stores Segment...
- Q The articles of partnership for A-B partnership provide for a salary allowance of $5,000 per month for partner B, with the balance of net income to be divided equally. If...
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- Q You have run your reports and have established that the 450 room property that you work for will be at 85% occupancy on Tuesday, November 8. Calculate how many room...
- Q Please answer with reason for all why the option is correct and why the other options are incorrect 43. Loss leads to reduction in A. O Capital B.O Income C....
- Q Consider the production cost information for Santiago's Salsa in problem 1. The company is currently producing and selling 250,00 jars annually. The jars sell for $4.00 each. The company is...
- Q E9 -10 Retail Inventory Method The Harmes Company is a clothingstore that uses the retail inventory method. The followinginformation relates to its operations during 2010: Cost Retail Inventory, January1...
- Q Two years and 10 months before its due date, an eight-year interest-bearing promissory note for $3,875 at 2.9% compounded semi-annually is discounted to have sale proceeds of $4,182.10. What monthly...
- Q Lankton Company tiene los siguientes saldos de cuenta al final del ao: Cuentas por cobrar $80,000 Provisin para cuentas de cobro dudoso 4.800 Descuentos de venta 3.200 Lankton debe informar...
- Q One of the products of hearts & flowers is a one-pound boxof chocolate candy, Packaged in a box bearing the customerslogo (minimum order, 100 boxes). The standard cost of the...
- Q Proceeds from Notes Payable On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $94,800. Assume a 360-day year. a....
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- Q XYZ Company acquires 80, 10%, 5 year, 1,000 Wynn bonds on January 1, 2017 for 80,000. Assume Wynn pays interest each January 1. The journal entry at December 31, 2017...
- Q urgent urgent help please Use the financial statements below to calculate the current ratio. Income Statement (000's) Balance Sheet (000's)...
- Q Galaxy Cruise line provides cruises to Hawaii. Galaxy Cruise provided Gershwin cruise to Hawaii for $6,500. On the way back from the cruise Gershwin got sea sick. Gershwin complained to...
- Q Maria produces two models of sunglasses; Standard and Deluxe. If sales price Standard is 22 and Deluxe is 32 and variable costs for Standard is 17 and 22 for Deluxe....
- Q Based on the following data for the current year, what is the days' sales in receivables? Assume 365 days a year. Line Item Description Amount Sales on account during year...
- Q Towson Manufacturing had a Work in Process balance of $118,000 on January 1, 2018. The year end balance of Work in Process was $152,000 and the Cost of Goods Manufactured...
- Q 1. The purchase price of insurance for equipment in transit is added to the cost of the equipment. True or False 2. When land with an...
- Q The data below are for Music Corporation for 2017: Accounts receivableJanuary 1, 2017 $236,000 Credit sales during 2017 820,000 Collections from credit customers during 2017 590,000 Customer accounts written off...
- Q explain and solve comprehensive problem #3 located in chapter 11 of Accounting Chapters 1-13 23rd edition by Warren, Reeve and Duchac
- Q Rick Kleckner Corporation recorded a right-of-use asset for $300,000 as a result of a finance lease on December 31, 2016. Kleckners incremental borrowing rate is 8%, and the implicit rate...
- Q dleta airlines ticker DAL what percent of total passenger revenue in 2022 came from ticket sales
- Q the full amount of the tax tuition credit if not fully utilized in the year by the student can be transferred and claimed by parent true or false
- Q The list of payment terms in QBO is _________________. a. only used for entering acceptable credit terms given to customers b. only used for entering credit terms offered...
- Q a carpentry, manufactures coffee tables for outdoor, these are made for inventory the information is as follows, monthly sales are 25 tables on average, the expense related to preparing...
- Q question 13, CPF1-55
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- Q The following costs relate to one month's activity in Martin Company: Indirect materials $ 300 Rent on factory building 500 Maintenance of equipment 50 Direct material 1,200 Utilities on factory...
- Q I f i had to classify a two- year premium paid on a fire insurance policy I would classify it as a pre-paid expense
- Q Jacob and Taylor Weaver ages 45 and 42 respectively, are married and are filing jointly in 2021. They have three children, Ashley, age 9; Patrick,...
- Q Aguilar Manufacturing has income before tax on it books of $700,000, and a tax rate of 30%. Assuming there no book-tax income differences, what is Aguilar's income tax expense? Group...
- Q If the interest rate is above the Feds target, the Fed should a. Buy bonds to increase bank reserves b. Buy bonds to decrease bank reserves c. Sell bonds to...
- Q Dados los elementos a continuacin, cul de los siguientes es una resta de la utilidad neta para llegar a los flujos de efectivo operativos utilizando el mtodo indirecto? Prdida en...
- Q Weighted-average cost per equivalent unit is obtained by dividing the sum of costs for beginning work in process plus costs for work done in the current period by total equivalent...
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