Accounting question and answers for November 25, 2023
- Q A business operated at 100% of capacity during its first month, with the following results: Sales (111 units) $521,700 Production costs (139 units): Direct materials $70,622 Direct labor 18,031 Variable...
- Q On 1/1/17, Griswold spent $20,700,000 for a copper mine. It estimates removing 9,000.000 tons of copper. 980,000 were removed in 2017 and 1,820,000 tons were removed in 2018....
- Q q.12 Powell Company had the following errors over the last two years: 2016: Ending inventory was overstated by $54,000 while depreciation expense was overstated by $24,200. 2017: Ending inventory was...
- Q In the current year the GHI partnership incurs $60,000 of expenses that qualified as organizational expenses. GHI is a calendar year partnership and begins business in November of the current...
- Q Realice un anlisis horizontal proporcionando tanto la cantidad como el cambio porcentual. (El porcentaje redondo responde a 1 decimal. Las disminuciones deben indicarse con un signo menos). ...
- Q Explain the nature, purpose and characteristics of a system which uses contribution to help determine the most effective use of resources. Use figures if your own invention to illustrate your...
- Q Publically traded corporations are owned by investors called shareholders. As a shareholder, do you believe you are entitled to receive information about the health of the CEO and other top...
- Q You are the owner of a small retail store that sells electronics such as smartphones, tables, and peripherals. Your business currently has just a few vendors and most of...
- Q Sylvia Charles, was born in Trinidad and educated at UWI St. Augustine. She had been an Engineer in the sugar belt with Caroni Limited and moved to Barbados in 2014...
- Q 1. Happy Selling's beginning inventory amounted to 250,000. Net purchases amounted to 70,000. Freight In totaled 15,000. Compute for the company's cost of goods available for sale. 2. Company's Cost...
- Q How do audit committees provide balance? What issues may arise from them? What characteristics should a person on an audit committee have?
- Q List the types of dispositions. Give an example of each and the tax treatment of each. Be detailed!( business tax)
- Q Why are most personal services not easily globalized?Give some examples that show how a service has to be standardized before going global and how standardized personal service is almost...
- Q HKSA 500 Audit Evidence requires the auditor to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base the audit opinion. HKSA500 also identifies...
- Q Read the case The Kinkead Equipment Company Ltd (commencing on the next page) and attempt the following questions.
- Q Magnolia, Inc. manufactures bedding sets. The budgeted production is for 11,100 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 4,130 yards...
- Q APCO Company manufactures various lines of bicycles. Because of the high volume of each line, the company employs a process costing system using the weighted-average method. Bicycle parts are...
- Q Which of the following is deducted in arriving at the taxable estate? A) Administrative and Funeral Expenses B) Casualty Losses C) Charitable Bequests D) All of the Above
- Q Define Invigilation and discuss how, when and why it is used.
- Q the answer not clear where is q1 and 2?
- Q The Ferre Publishing Company has three service departments and two operating departments. Selected data from a recent period on the five departments follow: ...
- Q Evaluate how implementing best practices would have reduced the chances for failure. Provide support for your rationale
- Q LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2021. In payment for the $25.6 million purchase, LCD issued a 1-year installment note to be...
- Q you have the following section extracted from the income statement of Stark company Pretax income ? ...
- Q The FASB ASC provides guidance for accounting for the difference between net periodic pension cost and amounts of pension cost considered for rate making purposes as an asset or a...
- Q Prepare a revenue budget for Happy Home Health Agency. Blue Cross members can only be charged $60 for a nurse visit by the agency, even though the agency normally charges...
- Q In your opinion, is the cash flow statement the most important of the four Financial Statement? If so, why? If not, which is and why? Please 300 words AT LEAST
- Q l cierre del presente ao, una entidad tena varios cheques y papeles en su caja fuerte. Qu elemento no debe incluirse en su cuenta de efectivo en el estado de...
- Q At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the...
- Q Patient revenues in a health care organization are derived from multiple sources. Prepare journal entries for the following transactions. 1. Mt. Helen Hospital billed the state Medicaid program $365,000...
- Q Lui Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the...
- Q Problem 1 Cost Classifications a.) Variable Cost b.) Fixed Cost c.) Work In Process Inventory d.) Finished Goods Inventory e.) Cost of Goods Sold f.) Cost of Goods Manufactued g.)...
- Q A) XY Ltd sells 2 products which are manufactured in one plant. During the year 2009, it planned to sell the following quantities of each product...
- Q Joys top concern is cash flow. Since investing her life savings into her business a year ago, Joy has managed to grow sales (steady 10% monthly growth trend , but...
- Q A piece of machinery can be bought for $10,000 cash, or for $2000 down and payments of $750 per year for 15 years. What is the annual interest rate for...
- Q During 2020, Ms. Daisy Schoales receives $41,750 in eligible dividends from Canadian public corporations. Her income is such that this additional amount will be taxed at a 27 percent federal...
- Q Consider the use of predictive analysis with regression to project sales for next quarter. When the quarter has ended, the predicted and actual results are compared, and a large discrepancy...
- Q How do you determine what groceries you need to buy? Have you ever run out of an essential product? How do you determine what quantity to buy when you go...
- Q a. Carlos Company purchases $30,000 of equipment on January 1, 2011. The equipment is expected to last five years and be worth $5,000 at the end of that time. Prepare...
- Q The loss is carry forward to get the tax deduction. To realize the benefits of carryforwards, a company must have future taxable income in the carryforward period in order...
- Q IF NO TRIES ON LINES 23d AND 22c WHAT WOULD BE THE TOTAL TAX ON LINE 25 OF FORM 1120s PLEASE ADVISE
- Q Capstone, Inc. (Chapter 9) Capstone, Inc. is continuing its budget preparations and had the following static budget and overhead costs for March 2020. CAPSTONE, INC. Manufacturing Overhead Budget (Static) For...
- Q Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $513,000. Suppose that on...
- Q Bramble Airlines is faced with two situations that need to be resolved before the financial statements for the companys year ended December 31, 2020 can be issued. ...
- Q Barriers to communication experienced in Amazon company. I need just 4 or 6.
- Q You have been asked to make a presentation in your International Business class about how globalization is impacting the auditing profession. In preparation, you met with your auditing professor and...
- Q A retail building used in the business of a sole proprietor is sold on February 10, 2019, for $453,000. Straight-line depreciation of $37,000 had been taken on the building and...
- Q Savvy Investor Inc. purchased several $1,000 bonds on January 1, 2020. Interest is paid semi annually on July 1 and January 1. The bonds mature on January 1, 2025. Savvy...
- Q As we get into the last few chapters of this class, the formulas and computations are getting more complex and build on several previous formulas to get the final answer....
- Q Consider the facts presented below. Using the Observation Evaluation and Escalation Process (see exhibit 14-4), assess the facts presented and determine the following: a. What observation(s) is (are) indicated? b....
- Q Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1,000 and the variable...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland...
- Q What is the overall objective of the audit working papers?
- Q Sam, a single taxpayer, owns and operates a bakery (as a sole proprietor-ship). The business is not a specified services business. In 2020, the business pays $100,000 in W2 wages,...
- Q An appliance company has three installers. Larry earns $345 per week, Curly earns $420 per week, and Moe earns $575 per week. The company's SUTA rate is 5.4%, and the...
- Q The FASB ASC addresses the accounting and reporting for post retirement health benefits for entities in the coal industry affected by the Coal Industry Retiree Health Benefit Act of 1992....
- Q Sunland Companys income statement contained the following condensed information. SUNLAND COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue $969,700 Operating expenses, excluding depreciation $624,400 Depreciation expense...
- Q Back Mountain Industries (BMI) has two divisions: East and West. BMI has a cost of capital of 15 percent. Selected financial information (in thousands of dollars) for the first year...
- Q Nations Capital Fitness, Inc., operates a chain of fitness centers in the Washington, D.C., area. The firms controller is accumulating data to be used in preparing its annual profit plan...
- Q Sweet Acacia Company is considering two different, mutually exclusive capitad expenditure proposals. Project A will cost \$429.000, has an expected useful life of 11 years and a salvage...
- Q Item Code Quantity Unit Cost Unit NRV Small 100 $228 $232 Medium 420 152 176 Large 600 168 176 Extra-Large 220 268 256 How much is the inventory...
- Q Park Co. is considering an investment that requires immediate payment of $32,920 and provides expected cash inflows of $9,500 annually for four years. Park Co. requires a 5% return...
- Q The stockholders equity section of K Inc. at the beginning of the current year appears below. Common stock, $10 par value, authorized 944,000 shares, 303,000 shares issued...
- Q Net income is: Please provide your answer in the rich text box. A deducted from beginning retained earnings on the retained earnings statement B added to beginning retained earnings on...
- Q briefly explain five importance of interview
- Q Cuentas por pagar $ 30,000 Cuentas por cobrar 62,000 Obligaciones acumuladas 4,000 Dinero 38,000...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland...
- Q Base Line, Inc. makes tennis balls. The company can produce up to 500,000 cans of balls per year. Current annual production is 450,000 cans. Annual fixed costs total $150,000. The...
- Q The accountant of Latifa Shoe Co. has compiled the following information from the companys records as a basis for an income statement for the year ended December 31, 2014. ...
- Q George is contracted as a salesman by Golden Gate Technologies (GGT) Ltd, which develops software that make businesses more efficient in their workflow. Golden Gate Technologies is very well known...
- Q What kinds of inventory does Amazon have? Calculate its Inventory turnover for year 2020. What inventory method(s) is (are) used by Amazon? Does it have LIFO reserve? What is...
- Q how to calculate finance cost in company account P &l
- Q On the first day of the fiscal year, a company issues a $4,700,000, 11%, 10-year bond that pays semiannual interest of $258,500 ($4,700,000 11% ), receiving cash of...
- Q As a practical matter, new entities will incur legal and accounting fees for all sorts of reasons (some related to organization and start-up, others related to day-to-day operations). How do...
- Q Problem 13-12 (Part Level Submission) The following financial statements were furnished by the Kokomo Company: ...
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