Accounting question and answers for November 24, 2023
- Q Many organisations measure their property, plant and equipment at cost, less accumulated depreciation and accumulated impairment losses (while other organisations might measure their property, plant and equipment at fair value)....
- Q 6. Torque Manufacturing forecasts that its production will require 600,000 tons of bauxite over its planning period (365 days). Demand for Torque's products is stable over time. Ordering costs amount...
- Q For each of the following items incurred by the KLT partnership indicate whether it is ordinary business income or loss (OBI) or a separately stated item (SSI): a) Gross Sales...
- Q Bubble Co leased a machine from Balloon Co for 5 years commencing on 1 January 20X1. Bubble Co is required to make annual payments of $500, however as an incentive,...
- Q What is the effect of the following business activity on the element indicated? A business with revenues of $92,460 and expenses of $84,530 accrues for 20% of income taxes. ---...
- Q Jackson Corporation had a project with a projected $35,000 NPV. The total operating expenses were $1,060,000 for the year just ended. Included in the operating expenses was $80,000 of depreciation...
- Q ICON Corporation reported a pretax operating loss of $500,000 for financial reporting purposes in 2022. The enacted tax rate is 30%. There were no temporary differences at the beginning of...
- Q Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $10.20. During the month, 7,600 chairs were manufactured,...
- Q Jurvin enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recorded during a recent month is shown below. a) $75,900 in raw...
- Q what model of government relations (GBR) best describes Germany? why might a strong commitment to corporate social responsibilities ( CSR) be advantage to business ? write about 100...
- Q Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, an inventory increase with cash would be classified on the statement of...
- Q Christie and Jergens formed a partnership with capital contributions of $330,000 and $430,000, respectively. Their partnership agreement calls for Christie to receive a $63,000 per year salary. Also, each partner...
- Q El 1 de octubre, Eli's Carpet Service toma prestados $125,000 del First National Bank en una nota de $125,000 a 3 meses, al 8%. El asiento de Eli's Carpet Service...
- Q Briefly discuss the principles underlying the Just-In-Time inventory system and provide 3 benefits of JIT to any company that uses it ?
- Q Direct Method and Overhead Rates Objective 3 Jasmine Company manufactures both pesticide and liquid fertilizer, with each product manufactured in separate departments. Three support departments support the production departments: Power,...
- Q Identifying and Analyzing Financial Statement Effects of Stock Transactions The stockholders' equity of Verrecchia Company at December 31, 2011, follows: Common stock, $ 5 par value,...
- Q Discussion Question 4: What are rounding error routines, and why are they used?
- Q The auditor provides an opinion on internal control over financial reporting for one of its public company clients. Is the auditor also required to audit the company's financial statements at...
- Q Continuing: https://www.chegg.com/homework-help/questions-and-answers/return-investment-roi-one-method-evaluate-investment-center-s-financial-performance-succes-q54890908 Describe 2 of the return on investment statements from the last post that the investment center supervisor has the ability to directly change, please in detail provide evidence...
- Q through D) that it best describes and place the identifying letter in the space provided. A. Embezzlement or defalcation B. Management fraud C. Errors D. Employee fraud ____ 1. A...
- Q Distinguish between research and development expenditure and discuss with practical examples five (5) criteria which must be met under IAS 38 (intangible assets) for development expenditure to be capitalised. [10...
- Q Which of the following foods is a high-protein snack that can replace a snack that contains animal proteins? 1 ounce of baby carrots 8 ounce glass of soy milk 6...
- Q El 1 de enero del ao 1, Brown Co. emiti bonos con un valor nominal de $115 000, una tasa de inters establecida del 10 % y un plazo de...
- Q Why is source-based taxation of capital income likely to induce under taxation of capital?
- Q You need to invest $80,000 today and will receive $30,000 in year 1, $45,000 in year 2 and $15,000 in year 3. Interest is 8%. Compute NPV. Show all work.
- Q Differentiate between superstores, supermarkets and convenience stores giving one example for each.
- Q The following are miscellaneous transactions for Simvox for April 2021. The business is a registered VAT vendor and trades only with registered VAT vendors who can provide tax invoices. The...
- Q As at 30 June 2020, the following information was available for machine A: When purchased on 1 July 2017, cost $62,000, useful life 6 years, residual value $4,000. Fair...
- Q 4.2 Debt to Capital Ratio Bartley Barstools has a market / book ratio equal to 1. Its stock price is $14 per share and it has 5 million shares outstanding....
- Q Income statement data for Winthrop Company for two recent years ended December 31 are as follows: 1 Current Year ...
- Q Asset turnover A company reports the following: Sales $1,273,650 Average total assets (excluding long-term investments) 606,500 Determine the asset turnover ratio. If...
- Q Robinsons, an electrical supply company, sold $7,400 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note May 12 with 4.6% interest. The due date was August 10....
- Q Rock Company currently has total sales of $640,000, a contribution margin of $230,400 and fixed expenses of $70,000. What is Rock Company's break even point in dollar sales? ...
- Q 4. PAN Corp had the following investments at 12/31/20: Plan to Hold Cost FMV Investment in J Corp Stock 3 years $18,000 $23,000 Investment in Y...
- Q Please IRAC (Issue, Rule, Application, Conclusion) the follwoing scenario 132. Consideration. Daniel, a recent college graduate, is on his way home for the Christmas holidays from his new job. He...
- Q Skylar Corporation issued $50,000,000 of its 10% bonds at face value on January 1, 2022. On December 31, 2022 the bonds were trading on the bond exchange at 102.5. Since...
- Q for the fy 2018 dorchester company's balance sheet included the following current items:cash $33,000 accounts receivable $142000 inventories $98000 prepaid expenses $24000 accounts payable $82000 amd accuree expenses $61000 use...
- Q Exchange A/R for N/R. Raya bought merchandise from Pantera. The total purchase was $10,000. The terms were 2/10, n/30. At the end of 30 days, Raya told Pantera she would...
- Q Question 6 What is a credit score and what can affect it?Explain in less than 150 words.
- Q At the end of the first pay period of the year, Sofia earned $5,700 of salary. Withholdings from Sofias salary include FICA Social Security taxes at the rate of 6.2%,...
- Q Orange Ltd., a publicly traded company, has compiled their comparative Statement of Financial Position as follows for their December 31, 20X8 year-end. Orange Ltd Comparative Statement of Financial Position...
- Q Which of the following taxes are included in the total income tax expense of a corporation as reported on its GAAP financial statements? a. Federal income taxes. b. Foreign income...
- Q Cul de los siguientes describe mejor el enfoque de contribucin al estado de resultados? Opcin multiple Solo puede ser utilizado por empresas manufactureras. Muestra datos basados en el...
- Q Arlington LLC purchased an automobile for $66,000 on July 5, 2018. What is Arlington's depreciation expense for 2018 if its business use percentage is 65 percent (ignore any possible bonus...
- Q Hawk Corporation purchased 1,000 Diamond Corporation bonds in 2015 for $500 per bond and classified the investment as securities available for sale. The value of the Diamond investment was $600...
- Q You own a bakery which specializes in wedding cakes. You just recently took a course in Accounting Information Systems and learned about the Balanced Scorecard. Identify at least two...
- Q Patton Company purchased $1,600,000 of 10% bonds of Scott Company on January 1, 2022. The bonds mature January 1, 2032; interest is payable each July 1 and January 1. The...
- Q Robatelli's Pizzeria Case Study Introduction On the morning of October 31st, Elaine Black, Chief Information Officer at Robatelli's Pizzeria, was waiting for both Jim Saxton, database administrator, and Peter Greyton,...
- Q 7. Zack who is single and takes the standard deduction, has taxable income of $160,000, tax preferences of $30,000 and a regular tax liability of $32,480. What is his AMT?...
- Q According to the Pizza Today Magazine (https://www.pizzatoday.com/pizzeriarankings/2019-top-100-pizza-companies/), an estimate of pizza sales in the United States for the top 100 pizza companies was $43.7 million in 2019. Below are...
- Q Value Electronics uses a standard part in the manufacture of different types of radios. The total cost of producing 28,000 parts is $90,000, which includes fixed costs of $30,000 and...
- Q Explain how the outbreak of the COVID-19 pandemic impacts on the accounting information system as a natural disaster and the strategies businesses can adopt to maintain current business operations
- Q Auerbach Inc. issued 10% bonds on October 1, 2018. The bonds have a maturity date of September 30, 2028 and a face value of $400 million. The bonds pay interest...
- Q You have been designated to be one of the student union leaders. The union leaders are preparing for their first collective bargaining session. What would be the primary elements of...
- Q Katy Lou is a retailer of scrapbooking products. The sales forecast for the coming months is: Revenues: April (actual) $250,000 May (actual) $275,000 June $300,000 July $350,000 august $350,000...
- Q Powell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $48.000 2) borrowed $33.000 from its...
- Q Your company buys a computer server that it expects to use for eight years and then sell when it upgrades to a more powerful model. The server would probably be...
- Q Box Expert Company Limited (Company) is engaged in selling plastic display boxes to customers. Horus is the Companys accountant and he received the Companys bank statement dated 30 September 2019...
- Q The following summary transactions occurred during the year for Daisy. Cash received from: Collections from customers $389,000 Interest on notes receivable 10,500 Collection of notes receivable 59,000 Sale of investments...
- Q a company paid in the current year rent in advance for the next two years. in its accounting income the rent expanse will be recognized over the next 2 years....
- Q Analyzing and Interpreting Tax Footnote Under Armour, Inc. reports total tax expense on its income statement for year ended December 31, 2010 of $40,442 and cash paid for taxes...
- Q people to whom occupiers of land owe a duty of care
- Q a company listed on the security exchange had a net profit after tax of 2000000 in the last financial year and paid cash dividends 500000 calculr the company dividend payout...
- Q what is Woolworth lending activities from 2019 to 2021 based on cashflow statements of respective years
- Q You have decided to start investing $8,700 each year. Assuming you make your first $8,700 investment at the end of this year, how much will you have in: a. 14...
- Q Eli uses a standard costing system. At the end of the fiscal year, only the following variance accounts had balances: Material Price Variance $260...
- Q On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $...
- Q Problem 3-12 Meals and Entertainment (LO 3.5) Grace is a self-employed sales consultant who spends significant time entertaining potential customers. She keeps all the appropriate records to substantiate her entertainment....
- Q Each unit requires direct labor of 2.2 hours. The labor rate is $11.50 per hour and next years direct labor budget totals $834,900. How much cash will be collected in...
- Q Q8) Thuan invests $20000 on April 6, 2020. His target is $23000.00 and he will withdraw the money on the first day that he will receive at least that much....
- Q Hushovd Iron Works has collected the following data for its Thunderbolt line of products: Direct materials standard 10 pounds per unit Direct materials standard cost $0.75 per pound Actual Direct...
- Q Notes receivable are used in each of the following circumstances except: a. the customer is high-risk. b. the customer needs to extend the payment of an outstanding account receivable. c....
- Q Las ventas de Reed Company el ao pasado totalizaron $150,000 y su retorno de la inversin (ROI) fue del 12%. Si la facturacin de la empresa fue 3, entonces su...
- Q Martinez Companys relevant range of production is 10,500 units to 15,500 units. When it produces and sells 13,000 units, its unit costs are as follows: ...
- Q Which of the following is always true: Diluted weighted shares is always less than or equal to basic weighted average shares Diluted weighted shares is always greater...
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