Accounting question and answers for November 26, 2023
- Q Melvin, a self-employed dentist, paid $4,476 for his health insurance premiums throughout the year
- Q How can we quantify the effects of fragmentation? Name two methods and a shortcoming of each.
- Q Elmer Sporting Goods se est preparando para producir una nueva lnea de palos de oro con una inversin de $1,85 millones. La inversin generar flujos de efectivo adicionales de $525...
- Q The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9. Employee Hours Worked Hourly Rate Weekly Salary ...
- Q Magic Sun Company sells a product for R50. The variable cost for the product is R30 and the fixed costs for the period amount to R2 750 000. Magic Sun...
- Q Rampart's had net income in 2020 of $120,000. Rampart's variable costs were 20% of its total revenue. Total fixed costs were $200,000 in 2020. What is the company's breakeven point...
- Q On 1 January 20x1, Manja Bhd enters into a finance lease agreement with Alpha Leasing Bhd for the use of a machine. The agreement calls for five yearly installments of...
- Q Calculate the lease expenses for capital lease if: vendor offers a capital lease at a total monthly payment of $29,282.32 and includes a $9,661.84 monthly maintenance fee and the lease...
- Q Cherry Corporation, a calendar year C corporation, is formed and begins business on 8/1/15. In connection with its formation, Cherry incurs organizational expenditures of $52,600. Round the per month amount...
- Q On January 1, Orange Crates had assets of P30,000 and owners equity of P20,000. During the year, the company had cash revenue or income of P10,000, cash expenses of P8,000,...
- Q Foxboro Company experienced an accounting event that affected it balance sheet and income statement in the following way: Assets: -/+ Liabilities: NA Equity: NA Revenue: NA Expenses: NA Net Income:...
- Q Si la tasa de inters de mercado es del 8%, el precio de los bonos al 6% que pagan intereses semestralmente con un valor nominal de $250,000 ser. TY ...
- Q Cash sales April 30,000 May 43,000 June 55000 Sales on Account April 370000 May 432,000 June 405,000 Bright Minds Toy Company prepared the following sales...
- Q Question 17 On April 7, 2016, the Toy Corporation sold inventory to the Penny Corporation for $600,000, terms of the sale called for a down payment of $100,000 and five...
- Q JYD Corporation uses an absorption costing system for internal reporting purposes. At present, however, it is considering to use the variable costing system. Following are some data regarding JYD Corporations...
- Q This tax year, Jack and Jill file married filing jointly. Their modified taxable income is $486,800. Jack operates a business that is a NOT a SSTB with $170,000 of income...
- Q Andrew and Emma Garfield invested $6,100 in a savings account paying 4% annual interest when their daughter, Angela, was born. They also deposited $1,200 on each of her birthdays until...
- Q A company began its fiscal year with inventory of $191,000. Purchases and cost of goods sold for the year were $950,000 and $984,000, respectively. What was the amount of...
- Q What are some problems with using the Cost Performance Index(CPI)?
- Q 384 Explain control envionment with the help of diagram having four elements (entire control activities)
- Q Explain what is meant by subordination of judgment in the context of the integrity and objectivity rules
- Q Which one of the following is true of participative budgeting? Development is less time-consuming It is developed using a top-down approach- wrong Lower-level management can provide more accurate...
- Q *Prepare a Classified Balance Sheet on the proper worksheet as of 12/31/17. Your Statement should be formatted. You should use formulas in all cells, not constant numbers. The balance...
- Q Question Four: There are several theories to application accounting for combination and consolidation of business and there are many methods to measure the consolidation, explain these theories...
- Q Qu 2 afirmaciones sobre la creacin de informes programados son correctas? Las transacciones en los feeds bancarios se actualizan automticamente antes de los informes programados Puede programar...
- Q What is the first step in applying activity-based costing? Why is overhead allocation under ABC usually more accurate than either the plantwide overhead allocation method or the departmental overhead allocation...
- Q Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.: WIPER, INC. Condensed Balance Sheets ...
- Q Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning...
- Q Good, Better, & Best, CPAs, has audited the financial statements of A Very Fine Co and, in the process identified several significant deficiencies in internal control. There are a couple...
- Q Mastery Problem: Capital Investment Analysis HomeGrown Company HomeGrown Company is a chain of grocery stores that are similar to indoor farmer's markets, providing fresh, local produce, meats, and...
- Q Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended...
- Q Logan Corporation issues 50,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash...
- Q Company's December 31, 2020, trial balance are the following accounts: $5.200, Held-for-Collection Securities in five years $56,000, Unearned Service Revenue $17,000, Land Held for Investment $39,000, and Notes Receivable (long-term)...
- Q El costo del producto se registra como costo de los bienes vendidos? A. Cuando se completa la produccin B. al comienzo de la produccin C. cuando se venden los productos...
- Q Show all work. Use an excel spreadsheet to prepare this assignment. Show what excel equations you used. Problem 2 A bond has a 10% coupon rate a $1,000...
- Q Describe the PCAOB independence and ethics rules
- Q Pregunta de libros rpidos Cmo se activa la funcin para crear lotes manualmente y enviar facturas por actividad no facturada? -Cuenta y configuracin > Ventas > Automatizacin >...
- Q 2019 Profit: 150M 2020 Profit: 400M How much has the profit increased (%) Can someone show me the method for this?
- Q 1. Grover Company has the following data for the production and sale of 2,000 units. ...
- Q Fairmount Travel Gear produces backpacks and sells them to vendors who sell them under their own label. The cost of one of its backpacks follows: ...
- Q Under the periodic inventory method, if ending inventory is understated, then retained earning will be overstated. True or False
- Q Your organization is a floral supply company with employees in the following jurisdictions: Manitoba Prince Edward Island Yukon The organization is planning to implement a company-wide policy...
- Q you are analyzing a project and have this data : year : cash flow 0. : -40,000 1 : 18,675 2 : 23,900 3. : 21,750 required rate of return...
- Q Qu tipo de necesidad de financiamiento es causada generalmente por el ciclo operativo de un negocio minorista establecido? A) a corto plazo para financiar el inventario B) largo...
- Q All of the following activities are classified as investing activities on a statement of cash flows except ________. purchase of land ...
- Q A 90-day, 10% note for $10,000 dated March 15 is received from a customer on account. The face value of the note is:A. $10,250 B. $10,000 C. $9,000 D. $9,750...
- Q Using the information below, complete the operating cash flow section of the Statement of Cash Flows for Peter Ltd using direct method. Your presentation must be consistent with the requirements...
- Q What is the solution to this problem? On January 1, 2015, Brooks Corporation exchanged $1,177,000 fair-value consideration for all of the outstanding voting stock of Chandler,...
- Q Which of the following is not one of the five components of internal control? Risk assessment ...
- Q Bill has 3 interest rate swaps. 1: speculative and records a loss of $5,000 this year. 2: is part of a fair value hedge of current instruments and records...
- Q Is it possible to have a variable-overhead efficency variance of zero? Would that be correct in saying it is not favoruable (F) nor unfavourable (U) and what does that mean?
- Q - Explain how tax credits differ substantially from tax deductions. - Explain which one provides the most tax benefit to taxpayers and why.
- Q Ultimate Butter Popcorn issues 6%, 15-year bonds with a face amount of $53,000. The market interest rate for bonds of similar risk and maturity is 5%. Interest is paid semiannually....
- Q Assume stock As recent 5-year return is 8%, 5%, -2%, 6% and 3%. What is the standard error of stock A using the information in the past 5 years? Follow...
- Q On February 4, 2017, Jackie purchased and placed in service a car she purchased for $21,500. The car was used exclusively for her business. Compute Jackies cost recovery deduction in...
- Q All Journals and General Ledger; Trial Balance The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows: Dec....
- Q The equation method yields the break-even point in unit sales, Q, as follows: Sales = Variable expenses + Fixed expenses + Profits $54Q = $45Q + $26,550 + $0 $9Q...
- Q Las cuentas de Stackhouse Company al 31 de diciembre de 2010 muestran cuentas por cobrar, USD 190,000; Previsin para Cuentas Incobrables, USD 950 (saldo acreedor); Ventas, USD 920.000; y Devoluciones...
- Q El mes pasado, Empire Company tuvo una ganancia de $40,850 sobre ventas de $301,000. Los costos fijos son $88,580 al mes. En cunto podran disminuir las ventas para que Empire...
- Q Compute the amount of raw materials used during August if $30,000 of raw materials were purchased during the month and the inventories were as follows: Inventories Balance August 1 Balance...
- Q The following account balances are for the Agee Company as of January 1, 2020, and December 31, 2020. All amounts are denominated in kroner (Kr). January 1,...
- Q Ch.11 Current Liabilities Explain the two basic entries for payroll.
- Q Identify and discuss the six principles of control activities. Suggest the two most important principles for an online retail business versus a brick-and-mortar retail business. Provide support for your rationale....
- Q Wholesome Dairy processes milk. The cost of the milk processing is $1,330,000. Wholesome is looking to increase its net income and is exploring the possibility of expanding its products to...
- Q Charlotte Corporation's contribution margin ratio is 71% and its fixed monthly expenses are $ 51,000. Assume that the company's sales for May are expected to be $ 110,000. Estimate the...
- Q Marin Companys general ledger indicates a cash balance of $24,140 as of September 30, 2018. Early in October Marin received a bank statement indicating that during September Marin had an...
- Q Julia invest $10,000 in a partnership. Her share of the partnership activity for the year is as follows, give Julia's ending basis in the partnership: (5 points) Show work and...
- Q How do I find if a company reported any special, unusual, or otherwise non-routine items in either current or prior years net income?
- Q How might an employee use returned goods to skim money from a register? What controls would you recommend to prevent or detect fraudulent returns? What audit procedure might you perform...
- Q GMAT Corporation is planning to issue bonds with a face value of $253,000 and a coupon rate of 6 percent. The bonds mature in 5 years and pay interest semiannually...
- Q The Roger Wheat Cooperative is considering the construction of a new silo. It will cost $198,800 to construct the silo. Determine the payback period if the expected cash inflows...
- Q Nichole, who is single and uses the cash method of accounting, lives in a state that imposes an income tax. In April 2022, she files her state income tax return...
- Q What amount can Matt deduct as an itemized deduction on his tax return? Matt paid the following taxes in 2015: Real estate taxes on rental property he owns...
- Q Music Teachers, Incorporated, is an educational association for music teachers that has 20,300 members. The association operates from a central headquarters but has local membership chapters throughout the United States....
- Q The total variance is $9700 favourable. The total materials variance is $4300 favourable. The total labour variance is twice the total overhead variance, both which are favourable. What is the...
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