Accounting question and answers for November 18, 2023
- Q Minority interest includes A. share in share capital B. share in capital profit C. share in revenue profit D. all of the above
- Q Where an employee-employer relationship exists,the employer must withhold: canada pension plan
- Q Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $290 in cash from a customer for services...
- Q Calla Company produces skateboards that sell for $63 per unit. The company currently has the capacity to produce 100,000 skateboards per year, but is selling 81,800 skateboards per year. Annual...
- Q Jan. 12 Provided services for customers who previously made advance payments of $7,000
- Q Which of these statements about benefit programs is TRUE? Generally, taxpayers with higher income benefit more from programs that lower their AGI. Taxpayers with lower income may reduce...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Boss Stores, Incorporated Selected financial information ($ millions) ...
- Q During the current year, Salesforce reports wage expense of $874,000 and the wages payable balance increase from $130,000 to the beginning of the year to $175,000 at the end of...
- Q How to calculate Loss on impairment?
- Q Garcia Company produces two different types of gauges: a density gauge and a thickness gauge. The segmented income statement for a typical quarter follows. Density Gauge Thickness Gauge...
- Q Which is not a prescribed rule in good forecasting? Select one: a. Frequent reforecasting must occur. b. The forecast must be at the right level of detail. c. A degree...
- Q Explain how owning and running a food truck might impact your sales and cost. Explain both variable and fixed costs.
- Q Goodwill of a business is its: A. O Current assets B.Wasting Assets c.Fictitious Assets D.Intangible Assets
- Q Govind, Hari and Pratap are partners. On the retirement of Govind, the goodwill already appears in the balance sheet at Rs. 24,000. The goodwill will be written off by A....
- Q Which of the following is least liely to be used to develop expectations for analytical procedures for revenues? Multiple Choice Nonfinancial data. Budgets. The current general...
- Q Buffo Company fabricates metal folding chairs. Data concerning the company's revenue and cost structure follow: Selling price per unit $37 Manufacturing cost $3,900 per month plus $16 per unit Administrative...
- Q What would the effects on the workers be when more robots are increasingly employed in Amazon's warehouse? Explain 2 effects and how these effects can be minimized
- Q Bronnie moved from San Francisco to Dallas, Texas in hopes of finding a new job. During his first 12 months in Dallas, his worked as a full-time researcher at a...
- Q One potential of financing corporations thru the use of bondsrather than common stock is: a) the interest on bonds must be paid when due b)the corporation must pay the bonds...
- Q Minority interest includes A. share in share capital B. share in capital profit C. share in revenue profit D. all of the above
- Q 8. ABC Co. paid XYZ Co. $2,000 for merchandise with a 60-day, 12% note dated October 31st. If ABC pays off the note at maturity, what entry should XYZ make...
- Q what is foster's operating leverage factor at the target level of operating income? the operating leverage facor is
- Q Sudoku Company issues 33,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $226,000 and the building at $368,000. Prepare...
- Q Disney Net Present Value
- Q Rodney is single and has adjusted gross income of $100,000. He qualifies to itemize deductions for the current tax year. Rodneys only charitable contribution this year is an antique car...
- Q x
- Q Company Nine has land that was purchased for $1,100,000 in a prior year. Fair value was $900,000 at the beginning of the year and $810,000 at the end of the...
- Q Briefly explain the reasons that lead to a shift in the demand curve. And the reasons that lead to a movement along the demand curve? Provide examples from your personal...
- Q Sanjay took out a loan on November 1, Year 1, for $100,000 to purchase inventory for his clothing store, which he operates as a cash basis sole proprietorship. His annual...
- Q x
- Q Which budget is a plan of all expected cash receipts and cash disbursements for the budget period?. capital budget ...
- Q Ellie is 15 and claimed as a dependent by her parents.
- Q In the current year C purchased new office equipment costing $10,000. Later in the same year he sold some office equipment for $25,000 that originally cost $100,000. At the beginning...
- Q On the 6th January 2008 Mr. Olu received his monthly bank statement for the month 31 December,2007. The bank statement contains the following details:Statement of account with Ecobank...
- Q Clear explanation of the role of finance accounting and management accounting.
- Q Sprue in casting refers to....... A.Gate B.Runner C.Riser D.Vertical passage
- Q Adrians Restaurant is a 66-seat restaurant open every day for lunch and dinner. For the month of May, it plans to turn over the restaurant 1.5 times at lunch and...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Boss Stores, Incorporated Selected financial information ($ millions) ...
- Q Which of the following is a new reason for a penalty-free early retirement withdrawal after SECURE Act 2.0? To pay for deductible medical expenses. A payment to...
- Q other things held constant, which action would increase the amount of cash on a company's balance sheet?
- Q Which inventory control method focuses on minimizing total ordering and holding costs? a) ABC analysis b) Economic order quantity (EOQ) (Image of...
- Q ACME Co. is considering two options for acquiring a new companycar. Details on the two options are: Option 1. Lease the car for 4 years at an annualpayment of $14,000;...
- Q An annual championship event is the most widely watched sporting event in a country each year. In recent years, there has been a great deal of interest in the ads...
- Q Timpanogos Inc. is an accrual-method calendar-year corporation. For 2018, it reported financial statement income after taxes of $1,152,000. Timpanogos provided the following information relating to its 2018 activities: ...
- Q 10. If adequate maintenance expenditure is incurred, there is no need of charging depreciation. a. True b. False Explain also
- Q Sales of products or services are referred to as
- Q 1. Is it a good idea to issue credit? 2. If you had a small business would you rather have a tight credit policy or a loose credit...
- Q Use the following information for the Problems below. (Algo) Skip to question [The following information applies to the questions displayed below.] Phoenix...
- Q CT10.2 PepsiCo, Inc.'s financial statements are presented in Appendix B. Financial statements of The Coca-Cola Company are presented in Appendix C. The complete annual reports of PepsiCo and Coca-Cola, including...
- Q 2.Newland Company reported retained earnings at December 31, 2018, of $350,000. The following transactions occurred during 2019. An error was discovered. In 2017, depreciation expense was recorded at $45,000, but...
- Q Wininger Corporation has 1,000 shares of 6%, $50 par value, cumulative preferred stock and 25,000 shares of $1 par value common stock outstanding on December 31, 2019 and December 31,...
- Q When the cost method is used to account for an investment thecarring value of the investment is affected by: a)the dividend distribution of the investee b)the periodic net income of...
- Q Cost is any resource that has been given up achieving a particular object. Costs are usually measured in monetary terms. Costs are incurred to achieve future benefits. Costs...
- Q Briefly describe the process of modifying the Chart of Accounts and establishing beginning balances. Give examples
- Q 1 a) "El presupuesto es una ayuda a la gestin y no un sustituto de la gestin". Comentario. b) Los 'Presupuestos Flexibles' son ms realistas y tiles que los...
- Q Exhibit A Katy Porter, is the daughter of a Baron and cousin to a very popular designer, as well as a very successful business woman. Katy is involved in a...
- Q Which of the following is fixed asset? A. Bank balance B. Manufactured stock of goods C. Goodwill D. Small tools
- Q Describe three items that require reconciliation between governmental fund financial statements and government-wide financial statements.
- Q 84. The first accounting standard issued by the Accounting Standard Board of India (ASBI) relates to: A. O Valuation of Inventories B.Depreciation Accounting C.Disclosure of Accounting Policies D. O Revenue...
- Q Calculations in the manufacturing overhead budget include: the predetermined overhead allocation rate variable overhead...
- Q On July 1, TruData Company issues 9,800 shares of its common stock with a $5 par value and a $50 fair value in exchange for all of Webstat...
- Q Please answer with reason for all why the option is correct and why the other options are incorrect 1.According to which concept are the owners considered to be different from...
- Q XYZ Company usually purchases office supplies monthly as it needs them and pays for them the following month. Office Supplies would be considered A. an unearned revenue. B. a prepaid...
- Q For each of the items below, indicate whether the cash flow item relates to an operating activity, an investing activity, or a financing activity: a. Cash loaned to...
- Q Production managers and marketing managers don't usually get along well. How can a budget assist in reducing battles between these two areas?
- Q Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company: ...
- Q Sprue in casting refers to....... A.Gate B.Runner C.Riser D.Vertical passage
- Q Jerry Hogan, president of Norwest, Inc., is considering the issuance of bonds to finance an expansion of his business. He has asked you to (1) discuss the advantages of bonds...
- Q A running balance is maintained in the journal after each transaction is posted. True False Journalizing a transaction with both the debit...
- Q one of the advantages of a RESP is the contributions are tax-deductible to the contributor and taxable on withdrawal to the student True or false?
- Q what is the current ratio in this case. current assets : $10000 Current liabilities : $5000
- Q Rex has the following AMT adjustment factors: -Depreciation of real property acquired in 1996 using MACRS is $22,000 while depreciation for AMT purposes is $15,000. -R&E expenditures amounting to $60,000...
- Q An investor has 12,000 to invest and is willing to keep it invested for up to 5 years. Each of the options in Questions 1-6 is available. Find the future...
- Q Lastly, if an airline or other company that receives cash before it performs the service or delivers its products somehow fortot and decided to call the cash receipts revenue earned...
- Q In the previous year, Old Grandma Chill Sauce Ltd had made a tax loss of $105,000 for which it had recognized a deferred tax asset. The taxable profit for the...
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