Accounting question and answers for November 21, 2023
- Q The issue faced by the accountant of Suwit Semailee Berhad (SSB) was how to allocate the accounting treatment for the total payment in a losing legal case for the amount...
- Q O QUESTION C: Executive Compensation (Ch 23, LO 1) Read the following: Chapter 23, pages 924-925 Link to: Canada's top CEOS saw average pay increase of almost $100k in 2020...
- Q The first-in, first-out (FIFO) and weighted average costing methods will have identical results when: a. the costs do not change from period to period and there is no beginning work-in-...
- Q 3. A Corporation engaged in this transaction: Declared and issued a stock divide Indicate which section, if any, each transaction would appear in, or relate to, or statement of cash...
- Q 2 8 pts This assessment question uses the HoursStudy variable in the Final Exam_Data_HoursStudied GPA.xlsx file on Canvas. Note that there are two worksheets the first with just HoursStudy, and...
- Q The following information regarding a dependent variable Y and an independent variable X is provided. SX 16 S (X-)(Y-Y) -8 SY 28 n=4 S (X-2-8 SST=42 According to the above...
- Q Sheffield Corp. collected the following production data for the past quarter: Month Units Produced Total Cost March 5000 $200000 April 4000 170000 May 3400 145600 If Sheffield uses the high-low...
- Q Ratio Operating profit margin Gross profit margin Operating return on assets Return on shareholders' equity Asset turnover Inventory days Capital gearing Dividend yield P/E ratio Dividend per share as a...
- Q Work in Process includes the following: O None of the other answers are correct O Direct Material, Direct Labor, Estimated MOH O Direct Material, Direct Labor, Actual MOH O Direct...
- Q Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has always produced all of the hecessary parts for its engines, including all of the...
- Q The following statements was extracted from the books of ChaCha Sdn. Bhd. a 31 December 2020 and 2021. [Berikut adalah penjata-penyata yang diekstrak daripada buku-buku ChaCha Sale. Bld. pada 31...
- Q 3: Use the following information to create a Trial Balance for the company. As of August 31, the company, DEBS Services, had the following account balances: (29 points) Cash $40,000...
- Q 8 Which of the following shows the proper effect of a stock split and a stock dividend? Stock Dividend Increase OA Item Stock Split Par value per share No change...
- Q Your Company's residual income was $23,500. Net income was $168,000 and average operating assets were $850,000. What was the expected return percentage? O 21% 17% O 20% 18% 19%
- Q 7) Which of the following is true of a jury trial procedure? a. The jury is selected before an opening statement is made by the attorney. b. The defendant's opening...
- Q Delta Company produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 103,200 units per year is:...
- Q Rental price per day Variable cost per day Standard Deluxe $30.00 $38.00 10.50 15.20 Biscayne's total fixed cost is $18,500 per month. Required: 1. Determine the contribution margin per rental...
- Q Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 2017, 2016, and 2015: December 31 2017 2016 2015 Total assets $315,000...
- Q PART II-JOURNAL ENTRIES (15 points) The following ledger accounts are used by Hanson and Sons Company in their ledger. Instructions: Indicate the appropriate entries for the month of September by...
- Q estion 5 Preferred stockholders have the following rights EXCEPT: OA. a stated dividend rate. OB. the right to sell their stock on the market. OC. the priority over common stock...
- Q Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below:...
- Q The screws used in furniture production is classified as O A. Fixed cost (F) B. Variable cost (V) O C. Semi-variable (SV) D. Semi-fixed cost (SF) Clear my choice
- Q Headsound manufactures headphone cases. During September 2018, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the...
- Q The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash $86,081 Accounts Payable Accounts Receivable 11,792 Wages Payable Inventory 155,159 Notes Payable Prepaid Rent...
- Q In footnotes to its year-end annual report, Bancfirst Corp. reported that held-to-maturity debt securities with an amortized cost of $8,730 thousand had an estimated fair value of $8,806 thousand. The...
- Q 13) A local Sports Authority ordered 40 pairs of tennis shoes from Nike Corporation. The shoes were priced at $75 for each pair with the following terms: 4/10, 2/30, n/60....
- Q 5 4 pts Jim is single and earns $1,200 per week. Using the percentage method for a manual system (Table 4 in the Appendix). What amount of federal withholding tax...
- Q On 1/1/20x1 Platypus Corp. adopted a pension plan for its founder and CEO, Bill Duck. Information concerning the plan is as follows: Defined benefit, noncontributory pension plan. Retirement benefits paid...
- Q Present Value of $1 Periods 1.0% 2.0% 3.0% 3.75% 4.0% 4.30% 5.0% 6.0% 7.0% ' 0.59010 090039 0.57087 0.96386 0.96154 0.95923 0.95238 094340 093458 2 098030 096117 0.94260 0.929021 052456...
- Q X Company's 2021 budgeted cost function for variable overhead was C=$9.40X, where X is the number of units produced. Its budgeted cost function for fixed overhead was C=$220,400. The following...
- Q Current Attempt in Progress Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation. Do not round intermediate calculations.) Maturity Date of Note...
- Q Bayerndaunchd-72626-4760-4166-1 as A nal Good Luck! Question 8 of 12 View Policies Current Attempt in Progress 830 -18 1 compute Blue Spruce Company acquires a delivery truck at a cost...
- Q Dan Company incumed the following costs while producing 400 units direct mate $13 peint diect box $1 per unit vanate manufacturing overhead $14 per food manufacturing overhead costs, $2.580 variable...
- Q The ABC Company rendered services on 1/1/15 and accepted a $10,000, 4%, 5-year note receivable with interest to be paid annually on December 31 through 12/31/19. The principal will be...
- Q a. Discuss the following terms with examples Non-Current Assets b. Current Liabilities C. Incomes
- Q From the following balances of KAMAL PIc., as at 31.12.18. Prepare Financial statement. Inventories (31.12.18) Share capital (RO.1 each) Administration expenses Selling and Distribution Expenses Trade receivables DEBIT CREDIT RO'000...
- Q ue2. XYZ ltd is a manufacturing concern, currently using a machinery which has a semi variable cost of 450,000$. Currently it is operating at 40% capacity, producing 4000 units. If...
- Q The condensed, adjusted trial balance of the Mario and Luigi Partnership as at December 31, 2021, appears below: MARIO AND LUIGI PARTNERSHIP Adjusted Trial Balance December 31, 2021 Debit Credit...
- Q 5 of 5 < -16 The management of Shatner Manufacturing Company is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The...
- Q Find Unemployment. Compute the labor force, unemployment rate, adult population, and labor force participation rate using this data: (2 Marks) Adult population of Country A In Million Number of employed...
- Q Carla Vista Company is considering three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows. Project Bono Project...
- Q Rexford Components shows the following overhead information for the current period: Actual overhead incurred Budgeted fixed overhead Standard variable overhead rate per direct labor-hour Standard hours allowed for actual production...
- Q Part A - RECKON: The following Reports are to be produced using Reckon Accounting Software and you must upload the two Reports in PDF format to Turnitin: 1. Adjusted Trial...
- Q Would the following activities at a manufacturer of canned soup be best classified as volume-related, batch-related, or product-related activities? Researching new Shipping orders to recipes A. Volume grocery stores Volume...
- Q Handy's Hats makes the world's best hats. Information for the last eight months follows: Number of Hats Total Month Produced Cost January 2,500 4,400 February 4,500 7,750 March 5,800 8,800...
- Q Use the data provided below to answer questions 1-10. point Qx TUX Qz TUZ A 15 200 8 100 B 20 600 28 1,000 CD C 40 1,200 58 1,540...
- Q The following balance sheet is for X Company: Balance Sheet January 1, 2021 Equities Accounts Payable $249,576 1,341 32,801 215,155 Assets Cash $84,193 Accounts Receivable 12,134 Wages Payable Inventory 156,485...
- Q October 1 Prepaid insurance for October through December, $2,250. October 4 October 5 October 8 October 11 October 19 October 24 October 26 October 29 October 31 October 31 October...
- Q Profitability is the ability to meet long-term obligations and avoid government regulations. True or False True False
- Q You are provided with the following information of company XYZ (Pty) Ltd. Sales (all on credit) COGS/Sales Inventory turnover Accounts Receivable Accounts Payable Credit purchases Calculate the cash conversion cycle...
- Q Suppose you were hired as a consultant for a company that wants to penetrate the Comp 30M market. This company wants to pursue a niche differentiation strategy. From last year's...
- Q S1: Corporations no longer have minimum subscription requirement at the time of incorporation, but it should have at least 25% of subscriptions paid up. S2: Corporations are subject to substantially...
- Q (B) Audit evidence is the main element for preparing the audit report; briefly mention the procedures for collecting audit evidence. 9:27 AM
- Q A company's 18 sales personnel earned salaries of $22,000 during the period March 5-10, all of which were subject to 4.95 % CPP and 1.66% El. All personnel are entitled...
- Q On the income statement, which of the following would be classified as a Period cost? Select: 1 Save Answer R&D Expense Inventory Carry Expense Direct Material Expense Direct Labor Expense...
- Q Explain why the government giving a $5,000 tax cut to everyone in the country, when unemployment is low and by increasing the deficit, could ultimately cause inflation to rise
- Q Taxation of other sources of taxable income and tax procedures of collection and payment 8:28 AM
- Q Required: 1. Indicate whether ACE's sales terms are FOB shipping point or FOB destination. 2a. Assume ACE sold inventory on account to eCOST.com on December 28 that was to be...
- Q 1 Maryam offers to sell her bicycle to Kim. She tells Kim that it is two years old and has hardly been used. Kim asks if she can go for...
- Q 10 5 points Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable coats per units Manufacturing Direct materiale...
- Q At the start of 2021, X Company developed the following budgeted total cost function: $10.23x+$232,100, where X is number of units produced. Budgeted production for the year was 10,100 units,...
- Q Oxford Company has limited funds available for investment and must ration the funds among four competing projects. Selected Information on the four projects follows: Present Value of Life of Investment...
- Q Moving to another question will save this response Question 7 The total number of stock that a corporation's charter allows it to issue is referred to as OA. Preferred stock...
- Q Sales Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Expected sales (units) 7,600 8,200 8,600 8,900 $44 $51 $51 Sales price...
- Q Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the...
- Q The following information is available for a Company's asset: Cost $5,350,000; Carrying amount (book value) $3,200,000; Undiscounted future cash flows 2,150,000; fair value or market value $2,600,000. Regarding this asset,...
- Q 7. The Major Financial Projections, with 3 years projection @20% sales increase on the 2nd year and 30% sales increase on 3rd year of operation. (20 marks) Income Statement Balance...
- Q Which of the following is a purpose of new hire reporting laws? Multiple Choice To ensure consistent pay through an employee's career To ensure payment of court-ordered obligations like garnishments...
- Q Stellar Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 13 paid vacation days and 8 paid...
- Q Yazzie Incorporated bought a machine at the beginning of the year at a cost of $26,000. The estimated useful life was five years and the residual value was $3,000. Required:...
- Q to answer Part E State of Economy Probability ABC Company Expected Return Very Poor 0.30 -9% XYZ Company Expected Return -19% Poor 0.25 -8% -6% Good 0.15 8% 9% Very...
- Q 1. Accounting consist of three basic activities. It--- Your
- Q Biden and Harris Company is currently retaining all of its earnings. The company plans to pay a $2.80 per share dividend in Year 5 and increase that dividend by 3.0...
- Q On consolidation income statements, the controlling share of consolidated net income is calculated by: O a. Adding net income of the parent and subsidiary O b. Subtracting Noncontrolling interest share...
- Q The following information relates to Marshall Manufacturing's current accounting period: Raw materials used Direct labor wages Sales salaries and commissions Depreciation on production equipment Rent on manufacturing facilities Administrative supplies...
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