Accounting question and answers for November 24, 2023
- Q Suppose that a 1-year zero-coupon bond with face value $100 currently sells at $94.34, while a 2-year zero sells at $84.99. You are considering the purchase of a 2-year-maturity bond...
- Q Criminal want to commit fraud by altering companys accruals, what plan of how would someone commit the fraud? Predict the major potential resulting damage(s) to the companys financial statements from...
- Q Nkansa Corporation granted restricted stock units (RSUs) representing 44 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within four years. After the...
- Q Which of the following statements regarding fraud is INCORRECT? A. Fraud violates the rights of many for the temporary betterment of a few and for the ultimate betterment...
- Q As part of your investigation into fraud at ABC Company you have been asked by your supervisor to retrieve information from one of the suspect's computers. During your retrieval of...
- Q The standard material cost for 100 kg of chemical D is made up: Chemical A 30 kg. @ 4 per kg Chemical B 40...
- Q If $1,000 face amount of bonds are issued at a price of 97, the cost of the bonds is? A. 97 B. 970 C. 1,000 D. 1,020 E. None of...
- Q The following information was available for the year ended December 31, 2022 : Cost of goods sold Average inventony for the year Inventory at year-end {:[4.64","050],[21","400],[43","350]:} sxipped Required: a. Calculate...
- Q Explain how strategy analysis helps an analyst to evaluate the impact of strategy on a firms future performance
- Q Murdock, a student in an accounting course, argues that the primary mission of the Securities and Exchange Commission is to ensure that companies are profitable and securities are offered to...
- Q Financial statement users are normally much more concerned about a disclaimer than an unmodified opinion audit report that contains an additionalminus emphasisminusofminus matter paragraph. True or False
- Q A company borrowed $29,000 by signing a 90-day promissory note at 12%. The total interest due on the maturity date is. (Use 360 days a year.)...
- Q The Ellis Corporation has heavy lease commitments. Prior to SFAS No. 13, it merely footnoted lease obligations in the balance sheet, which appeared as follows: Use Appendix D for an...
- Q Ramirez Corporation vende dos tipos de discos duros para computadoras. La mezcla de ventas es 30% (Q-Drive) y 70% (Q-Drive Plus). Q-Drive tiene costos variables por unidad de $90 y...
- Q The following budgeted production and sales information is for Flushing Company for the month of December: Line Item Description Product XXX Product ZZZ Estimated beginning inventory 30,300 units 20,000 units...
- Q Consider a perpetuity that pays $100 per year; the market rate of interest is 10%. What is the PV of the perpetuity?
- Q Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $1,812 of social security withheld and $453.00 of Medicare tax withheld on total salaries of $30,200 for the period....
- Q If anticipated overhead is $100,000 and anticipated production is 100,000 units, and the overhead application rate is based on direct labor hours, the overhead application rate per direct labor hour...
- Q What is owners equity statement with simple example?
- Q Canton Company borrowed $50,000 on a four-year, 8% installment note. Canton will record the issuance of this note with the following entry:
- Q 2 of Tax Analysis Case #2 What is Mateo's refund
- Q Knowledge Check 01 When accounts receivable are factored with recourse, it means Multiple Choice O O The seller retains all of the risk of bad...
- Q Exercise 8-9 The net income per books of Pina Colada Industries Limited was determined without any knowledge of...
- Q X Company is considering buying a new machine that will cost $150,000 and generate annual cash inflows of $37,570 for 5 years. The internal rate of return for this machine...
- Q If the taxpayer makes no special elections, a qualified disaster distribution taken in 2021 is taxable: In 2021 only. Ratably in 2021, 2022, and 2023. One-half in...
- Q You are preparing a short presentation for a group who wants learn performance reporting issues. One question that was raised during the discussion is about measuring variances when the actual...
- Q Project 2: Review of Merchandising Cycle [The following information applies to the questions displayed below.] Wallys Widget Company (WWC) incorporated near the end of...
- Q I have doubts regarding underapplied and overapplied manufacturing overheads, can you help me identify what are the main differences between one and the other in order to understand the...
- Q Bir irket srekli envanter yntemini kullanr. Bir stok satnn muhasebeletirilmesi iin aadaki kaytlardan hangisi yaplr? NEDEN CEVABI SETNZ AIKLAYINIZ A) Muhasebe girii, Borlar hesabna bir bor ve Satn Almalara...
- Q Explain your understanding about the quality of accounting information, and how financial reporting could be differ from the economic reality?
- Q The weekly demand for special chocolate box is 412 units. The chocolate is sold for 52 weeks in a year. The fixed ordering cost for placing an order with the...
- Q a. IAS 7 would prefer enterprises to use the direct method of presenting cash flow statement. However, almost all enterprises use the indirect method of presentation. Why do the...
- Q You know the following information about the Davis National Bank: Total interest expenses $500.00 Total Noninterest income $100.00 Securities gains (losses) $50.00 Income taxes $80.00 Dividends to stockholders $40.00 Total...
- Q Issued a total of 10,000 shares of capital stock to Julia in exchange for $165,000, cash; $20,000 of computer equipment; and $26,000 of office equipment. how to post to general...
- Q A $540,000 bond issue on which there is an unamortized discount of $45,000 is redeemed for $446,000. Required: Journalize...
- Q A comparative statement of financial position for Sheffield Industries Inc. follows: SHEFFIELD INDUSTRIES INC. Statement of Financial Position December 31, 2020 December...
- Q What can be found in the statement of changes in owners' equity or the statement of changes in retained earnings that cannot be found in either the balance sheet or...
- Q The Fime Corporation uses a standard costing system. The following data have been assembled for December: Actual direct labor-hours worked 5,900 hours Standard...
- Q Chapter 16-Problem 10 Tru Developers, Inc. sells plots of land for industrial development. Tru recognizes income for financial reporting purposes in the year it sells the plots. For some of...
- Q Keyshawn Brown prepared and signed last years tax return on April 3 but forgot to mail the return until the morning of April 20. Keyshawn enclosed a check for the...
- Q This year Jack intends to file a married-joint return. Jack received $175,000 of salary, and paid $7,250 of interest on loans used to pay qualified tuition costs for his dependent...
- Q What is integrated reporting and why does it matter?
- Q Budgeted income statement and supporting budgets for three months Newport Inc. gathered the following data for use in developing the budgets for the first quarter (June, July, August) of its...
- Q ) State how the statement of cash flows helps investors and creditors perform each of the following functions: i. Predict future cash flows. ii. Evaluate management decisions. Answer theoretically
- Q A 10 kW photovoltaic system generates 14,000 kWh per year. Its initial installed cost is $30,000 and it is financed at 2%. The annual operation and maintenance cost is $200....
- Q People frequently misuse pronouns. For example, they have trouble knowing whether to choose I or me, he or him, she or her, and so on. Why do you think pronouns...
- Q True or False. FIFO better reflect current replacement cost on the balance sheet versus LIFO.
- Q tim has a dm efficiency variance of 2000 favorable. Tim actually used 1.20 pounds/unit to produce 30,000 units. assume the standard cost per pound= 2.25. what are standard pounds per...
- Q Following a period in which the Reserve Bank of Australia has decreased the cash target rate to the level of 2.5% per annum, the Australian yield curve is now upward...
- Q 1 The most common types of evidence used in the case of the review process: Choose one of the options Endorsements Control tests Inquiries Obtaining a letter of representation from...
- Q Discount Amortization On the first day of the fiscal year, a company issues a $2,500,000, 11%, 8-year bond that pays semiannual interest of $137,500 ($2,500,000 11% ), receiving...
- Q Windhoek Mines, Limited, of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the company has mineral rights. An engineering and cost analysis...
- Q Explain how the proper implementation of internal controls in accordance with frameworks such as the COSO framework can reduce the incidence of fraud in a publicly traded firm. Give examples...
- Q The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400 Inventory 30,000...
- Q in the vontext of the new product development process the .... stage involves the formal processs
- Q 6. The following data relate to direct labor costs for March: Rate: standard, $12.00; actual, $12.25 Hours: standard, 18,500; actual, 17,955 Units of production: 9,450 What...
- Q Balanced score card is considered one of the innovated accounting tool to measure the performance from different perspectives to improve the performance. Kindly, develop a balance scorecard for any manufacturing...
- Q How does the operating cycle affect the classification of assets and liabilitites as current or long term? Please explain.
- Q On June 30, 2018, Thornton Companys total current assets were $499,500 and its total current liabilities were $275,000. On July 1, 2018, Thornton issued a long-term note to a bank...
- Q 13. Use this information about Department G to answer the question that follow. Department G had 1,920 units 25% completed at the beginning of the period, 12,200 units were completed...
- Q The account credited when a note receivable is discounted with recourse is? a. Liability on discounted notes b. Notes receivable c. Accounts receivable d. Allowance for discounted notes ...
- Q 1. Si el Sr.G. tuvo que dejar de lado una ganancia de USD 2000 debido a la incapacidad de su empresa para producir, cmo se llamar esta ganancia perdida? ...
- Q Splish Corporation wishes to exchange a machine used in its operations. Splish has received the following offers from other companies in the industry. 1. ...
- Q 7. Gordon Carter owns 80% of the common shares of Jetco Ltd. Gordon's shares have an adjusted cost base (ACB) of $1,200,000. The Jetco common shares have a total paid-up...
- Q I NEED YOU TO SHOW YOUR WORK PLEASE FOR EACH ASSUMPTION AND SUBMIT IT CORRECTLY SO THAT I CAN SEE IT PLEASE! MY PREVIOUS EXPERT DID NOT INSERT HIS/HER ANSWERS!...
- Q Select the correct expression for the equilibrium constant, KP, for the following thermal decomposition reaction. 2CaSO4(s) 2CaO(s) + 2SO2(g) + O2(g)
- Q 1. An existing shareholder may help another shareholder transfer property to a corporation under Code Sec. 351 by also contributing any amount of property (even $1) so that the existing...
- Q Explain how the use of the SERVQUAL Model would help OUTsurance better service its customers.
- Q What is the best way to contextualize direct v. indirect costs?
- Q Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $298,300 and machine...
- Q Way Cool produces two different models of air conditioners. The company produces the mechanical systems in their components department. The mechanical systems are combined with the housing assembly in its...
- Q Smoky Mountain Corporation makes two types of hiking bootsXtreme and the Pathfinder. Data concerning these two product lines appear below: Xtreme ...
- Q Each full-time employee of Sunshine Greenhouse is entitled to ten paid sick days each year. The sick pay does not vest and cannot be carried over to subsequent years. Sunshine...
- Q A venture capital company buys 400,000 new shares of a start-ups stock for $5.20 million. If the company has 1.7 million shares outstanding prior to the purchase, what is the...
- Q Turner Company has just written off a $200 account as being uncollectible. Prior to the write-off, Turners net accounts receivable was $145,000 (made up of gross receivables totaling $146,000 and...
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!