Accounting question and answers for November 24, 2023
- Q According to information on the Internet, Tesco practice Herzberg two factor theory in running its organization. Discuss the theory mention and how Tesco apply Herzberg two factor in its businesses....
- Q Fenwicke Company organized and began operating a subsidiary in a foreign country on January 1, 2015, by investing LCU 84,000. This subsidiary immediately borrowed LCU 210,000 on a five-year note...
- Q In the context of the relationship between audit risk and materiality, highlight the importance of auditors judgment and professional scepticism in the evidence gathering process. In particular, critically evaluate the...
- Q Los estimados de produccin y ventas para junio son los siguientes: Inventario estimado (unidades), 1 de junio 21,000 Inventario deseado (unidades), 30 de junio 19,000 Volumen de ventas esperado (unidades):...
- Q Woolworths has done a lot of unethical work on his employees with underpayment fraud. What do you think Woolworths can do to regain his reputation? because due to this Woolworths...
- Q Cases in financial reporting first edition Case 2.2 Financial reporting isses at microsoft corporation: prepare and record a journal entry for each of the seven items
- Q On January 1, 20x1, Simon Inc. issued 12% bonds, dated January 1, 20x1, with a face amount of $11 million. The bonds mature in 10 years. For bonds of similar...
- Q Jiggs Corporation, a merchandising firm, purchases merchandise from its suppliers on credit terms of 2/10, net 30. Jigg needs cash, so it is considering two alternatives: Alternative 1 -...
- Q Describe the four levels of evaluating a training program and identify one example of data at each level that might be collected to provide evidence for the effectiveness of training...
- Q If the monthly sales volume required to break-even is $60,000 and monthly fixed costs are $18,000, the variable cost ratio is:
- Q Cul de los siguientes resulta en un aumento en la prima de emisin? A. Compra de acciones propias por encima del valor nominal B. Compra de acciones propias...
- Q 1.On January 1, 2018, Logan's wife, Irma, died while giving birth to a child, but the child survived. Logan took care of the child bringing him wherever he was assigned....
- Q January 1, 2022, an investor company acquires $220,000 of the investee companys 5% bonds at a price of $166,000. Interest is received on January 1 of each year, and the...
- Q Digital Solutions Inc. uses flexible budgets that are based on the following data: Sales commissions 15% of sales Advertising expense 18% of sales Miscellaneous administrative expense $5,000 per month plus...
- Q Details of the division of partnership income should normally be disclosed in the financial statements. True False
- Q Murrysville Company had the following data available for 2016 (before making any adjustments): Accounts receivable, 12/31/16 $343,200 (Dr.) Allowance for doubtful accounts 3,800 (Cr.) Net credit sales, 2016 829,000 (Cr.)...
- Q 3) Prepare a statement of cash flows using the following information. Increase in accounts receivable: $600 Increase in inventories: $160 Increase in long term debt: $160 Beginning cash: $6,000 Increase...
- Q Problem 1: Lack of Participative Budgeting and Centralized Decision-Making
- Q Jansen Sportswear issues 3,000 shares of 9%, $100 par value preferred stock at the beginning of 2015. All remaining shares are common stock. The company was not able to pay...
- Q The flexible budget variance is the difference between the Flexible Budget and (the Master Budget / Actuals). The flexible budget variance compares budgeted amounts for (actual / expected) output...
- Q K Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory:...
- Q Ball-Mart sells thousands of different products. Last year, sales were $10,000,000 and profit was $1,000,000. Management has determined that Ball-Marts fixed costs are $3,000,000. What is Ball-Marts break-even point in...
- Q Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the companys costs: Fixed Cost per Month...
- Q https://www.youtube.com/watch?v=4v26B-V26iQ Write a summary as to your Take Away from viewing the video above. Please describe your reaction to the ethical dilemmas addressed, using a separate paragraph identifying each and...
- Q ROMALY, INC. has several processing departments. Costs charged to the Forming Department for December 2011 totaled $1,505,000 as follows: Work in Process, December 1...
- Q One of your friends Sammy is about to prepare the 31 March balance sheet for her new business, Tasty Cookie shop. This is Tasty Cookies first month of operation, and...
- Q Pintime Industries Incorporated entered into a business combination agreement with Sydrolized Chemical Corporation (SCC) to ensure an uninterrupted supply of key raw materials and to realize certain economies from combining...
- Q XYZ Company manufactures xyz implements. During May, the company ACTUALLY produced only 300 units of output, but they had planned for 400 units. XYZ Company tracks four factory inputs: (1)...
- Q Instructions Refer to P&G's 2015 financial statements and the accompanying notes to answer the following questions. (a) What type of income statement format does P&G use? Please discuss the advantages...
- Q Johnson Products Inc. has three regional divisions organized as profit centers. The chief executive officer (CEO) evaluates divisional performance, using income from operations as a percent of revenues. The following...
- Q Caspian Sea Drinks is considering the purchase of a plum juicer the PJX5. There is no planned increase in production. The PJX5 will reduce costs by squeezing more juice...
- Q Swasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding, and Painting. In September, the Cutting Department of the Tulsa, Oklahoma, plant reported the following...
- Q 5. Andrew makes $40,000 per year and gets paid twice a month. Calculate his take-home pay for one paycheck ( a tax rate of 20%) on June 30. Label all...
- Q Journal entry for the following: Paid the semi-monthly payroll, $2,500 if direct labor for Job#1 (250 hours), and $400 for indirect labor (40 hours), and $1,100 as Salary expense [for...
- Q una empresa est decidiendo si comprar nuevos equipos que cuestan $500 000. la gerencia estima que la vida til de los nuevos activos es de 4 aos y espera que...
- Q The following information describes Lansur's Corp. activities with Bank SWN during September 2019: 1. The cash account balance at the bank according to the ledger as of September 1, 2019...
- Q Break-Even Sales and Cost-Volume-Profit Chart For the coming year, Sorkin Company anticipates a unit selling price of $134, a unit variable cost of $67, and fixed costs of $623,100. Required:...
- Q Your Company reported the following: Year 1 Year 2 Year 3 Year 4 Margin 4% 6% 5% 8% Turnover ? ?...
- Q Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.)...
- Q Job order cost sheets accumulate all of the following costs except for: factory overhead applied direct labor indirect materials direct materials
- Q Bridgeport company sold equipment on july 1 2021 for 87500. The equipment had cost 245000 and had 137000 of accumulated depreciation as of Jan 1. Depreciation for the first 6...
- Q On December 31, 2019, Central Perk Corporation signed a non-cancelable lease for a coffee machine. The terms of the lease called for Central Perk to make 8 annual payments of...
- Q 0. XYZ Company began operations during 2011 and employs a job-order costing system that applies overhead to jobs using direct labor hours as the activity level. For 2011, XYZ...
- Q In 2020, Javier is divorced with one child. He has AGI of $20,000 resulting in a federal income tax liability of $200 and an earned income credit of $3,374. He...
- Q Blake and Matthew are partners who agree that Blake will receive a $100,000 salary allowance and that any remaining income or loss will be shared equally. Matthew
- Q Euphrates Incorporated (year-end March 31) recently had a brand new team of board members appointed to the company. At the urging of these new board members, Euphrates issued 12-year $600,000,...
- Q Ellen B. Ryan (SSN 392-40-6811) is unmarried with no dependents. Ellen lives at 1840 S. 200 West, Reno, Nevada 89434. She is 34 years old. During the year, she sold...
- Q Segmented Income Statements, Adding and Dropping Product Lines Dantrell Palmer has just been appointed manager of Kirchner Glass Products Division. He has two years to make the division profitable. If...
- Q Newhard Company assigns overhead cost to jobs on the basis of 116% of direct labor cost. The job cost sheet for Job 313 includes $27,252 in direct materials cost and...
- Q I can't find the 1st point in the income statement... help
- Q The following information is for X Company for the year: Equipment, beginning balance $12,250 Equipment, closing balance 9,531 Cost of equipment...
- Q Attawfik Company is developing a cost function for its total costs using the high-low method. The following data have been collected for the past year: Total Quarter Units Costs 1...
- Q Which of these is true about the normal balance of an income summary? a. the balance is debit? b. the balance is credit? c. the account doesn't have a normal...
- Q Pepper Company completely owns Salt Inc. On January 2, 2019 Pepper sold Salt machinery at its carrying amount of $30,000. Pepper had the machinery two years before selling...
- Q Ann transfiri un terreno por valor de $200 000 con una base fiscal de $40 000 a Brown Corporation, una entidad existente, por 100 acciones de su capital social. Brown...
- Q Question 1 Johanssen Company reported the following information for 2012: Sales $802,000 Average Operating Assets $390,000 Desired ROI...
- Q Forchen, Inc., provided the following information for two of its divisions for last year: Small Appliances Division Cleaning Products Division Sales $34,630,000 ...
- Q Is fund accounting less appropriate for businesses than for not-for-profits? A newly formed notforprofit advocacy organization, the Center for Participatory Democracy, requests your advice on setting up its financial...
- Q Payment is received from customers who were billed earlier for services provided for them. For this transaction, identify the effect on the accounting equation. a.Assets increase and liabilities increase. b.There...
- Q Gabbit Publishers sold 9,000 annual subscriptions at $100 each on September 1. How much unearned revenue will be recognized for the year ending December 31? (Do not round intermediary calculations....
- Q what do IRS Section 1237 rules allow
- Q Prepare the report for your partner regarding the financial implications from your review of the 2 files. Prepare any journal entries in the appendix if necessary and also include any...
- Q QUESTION 3 (35 MARKS) Mexico Limited, a newly established manufacturing company in the Northern Industrial area, manufactures two types of Boardroom Tables. One type of these Boardroom tables is...
- Q Account Name Balance Income tax Expense $ 600,000 Decrease in porperty valulation 35,000 Current Assets 6,500,000 Cost of Sales 7,500,000 Distribuiton Costs 900,000 Common Shares Issued 895,000 Finance Costs 90,000...
- Q Discuss the importance of restating financial statements due to prior period adjustments?
- Q Larrys claim for damages to his vehicle, after a hailstorm, which took place on the 10th of April, was rejected by his Insurer. The grounds hereof was as a result...
- Q Dexter Industries purchased packaging equipment on January 8 for $111,200. The equipment was expected to have a useful life of three years, or 20,000 operating hours, and a residual value...
- Q Midwest Office Products uses the retail method to estimate ending inventory in its monthly financial statements. The following information is available for the month ended May 31: ...
- Q A company's flexible budget for 55,000 units of production showed variable overhead costs of $101,750 and fixed overhead costs of $71,000. The company incurred overhead costs of $156,680 while operating...
- Q Entries for issuing bonds and amortizing discount by straight-line method On the first day of its fiscal year, Chin Company issued $28,200,000 of 5-year, 12% bonds to finance its operations...
- Q Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 47,700 units will be produced, with the following total costs: Direct materials...
- Q Go online to the M&Ms website (http://www.mms.com/us/index.jsp) and evaluate it. You will have to go through more than just the main landing pageclick on the current contests and other pages...
- Q Chapman Company obtains 100 percent of Abernethy Companys stock on January 1, 2017. As of that date, Abernethy has the following trial balance: Debit ...
- Q WHAT WOULD YOU DO 5-3 (Bad News) Your long-term client is a great guy who owns three retail furniture outlets. You have known him for a number of years, professionally...
- Q Microsoft Corporation reported earnings per share of $2.62 in 2009 and $6.06 in 2019. At what compound annual growth rate did earnings per share grow over this period?
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