Accounting question and answers for November 26, 2023
- Q To Sunnybrook Estates (new customer), $4 800 plus $240 GST charged for dumpster rentals during estate renovations. Sales invoice total $5 040. Terms: net 30 days. Create new Group account...
- Q which of the following reports is a publicly traded firm required to file each year with the U.S. Securities and Exchange Commission? Multiple Choice Form 40-F Form 1120-S Form 10-K...
- Q Samuel and Annamaria are married, file a joint return, and have three qualifyingchildren. In 2015, they earn wages of $34,000 and no other income. Determine the amount of their earned...
- Q Ub Wong plans to make quarterly deposits of $200 for 5 years into a savings account. The deposits will be made at the end of each quarter. The savings account...
- Q Which of the following taxes is not a significant source of revenue for local governments? All of these choices are correct ...
- Q a nonresident alien who derives income (that is otherwise not effectively connected) from real property located in the U.S. and held for the production of income may elect to follow...
- Q 27. The partnership of Felix and Oscar had the following items of income during the current tax year: Income from operations $157,000 Tax-exempt interest income 8,000 Dividend income 6,000 What...
- Q Palm, which uses the high-low method, had an average cost per unit of $54 at its lowest level of activity when sales equaled 1,000 units and an average cost per...
- Q What is the meaning of the y-intercept in a cost function graph? And What is the purpose of the consumer price index? If a company is operating beyond the...
- Q 9. Blue has forecast sales to be $427,000 in February, $557,000 in March, $597,000 in April, and $637,000 in May. The average cost of goods sold is 60% of sales....
- Q Fading Away Corporation just paid a dividend of $6.04 and has an expected growth rate of -5% for the foreseeable future, if the discount rate is 7% what is the...
- Q Company A has overstated the fair value of net assets of its acquisition of Company B in 2017. The price of acquisition was 169. Company A estimated goodwill to be...
- Q Which method (absorption or contribution margin) provides us with the most accurate net income?
- Q Provide examples on how to compute the following: Ratio of Capital Outlay/Total Expenditures Ratio of Debt Service/Total Expenditures
- Q R. Young Radio tiene un ndice de rotacin de inventario de 3,9, mientras que su competidor, ECI Radio, tiene un ndice de rotacin de inventario de 4,1. Calcule los das...
- Q 1st year Assets 115,028 Liabilities 59,924 2nd year Assets 132,081 Liabilities 42,128 Owner Investment ? Net Income 15,536 Owner Cash Withdrawl...
- Q XYZ Company received a $500 bill for electricity for the month of September on September 30. The bill will be paid on its due date of October 10. The journal...
- Q the cost flow method that often parallels the actual physical flow of merchandise is the A) FIFO method, B) average-cost method., C) LIFO method., D) gross profit method
- Q El inventario que cost $550 se vende por $950, con plazos de 2/10, n/30. a. Prepare los asientos de diario para registrar la...
- Q two conpanies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hands. The following information for the 2 warehouses is available:...
- Q Paul Golding and his wife, Nancy, established Crunchy Chips in 1938. Over the past 60 years, the company has established distribution channels in 11 cities. In 1980, Pauls son, Edward,...
- Q Monteiro Industries is evaluating whether to invest in solar panels to provide some of the electrical needs of its main office building in Newark, New Jersey. The solar panel project...
- Q Video Magic, Inc. has the following information available for the year ending December 31, 2022. Unit selling price of video game consoles $ 299 Unit variable costs $ 210 Total...
- Q Omega Coffee Shop enters into a contract with Software Wizards Co. on May 15, 2020, to deliver 100 bags of ground coffee beans to Software on June 1. Software agrees...
- Q Which of the following statements regarding the 2021 Child Tax Credit (CTC) is FALSE? The CTC is fully refundable and there is no earned income requirement. To claim...
- Q Assignment Task : 1. Reflections on any topic s covered in the unit that interests you the most. Why was it interesting and what did you learn from it? 2...
- Q When the credit card processor deposits the gross proceeds from credit and debit card sales ________ the total sales less the processing fee assessed equals the net amount of cash...
- Q Rosemary Division of Spice Industries had average operating assets of 5525, 00 and net operating income 75.000 The company uses residual income, with a minimum required rate of return of...
- Q Cul de los siguientes es un ejemplo de un costo fijo escalonado? a. costo de las batas desechables que usan los pacientes en un hospital b. costo de...
- Q Using the audit risk model, state the effect on control risk, inherent risk, acceptable audit risk, and planned evidence for each of the following independent events. In each of the...
- Q Susie purchased a new business asset (five-year asset) on September 30, 2014, at a cost of $110,000. On October 4, 2014, Susie placed the asset in service. This was the...
- Q Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $22,000 of goods purchased from...
- Q Cornell Corporation manufactures faucets. Several weeks ago, the firm received a special-order inquiry from Yale, Inc. Yale desires to market a faucet similar to Cornell's model no. 55 and has...
- Q Is the revenue recorded at a point in time or over a period of time? explain
- Q Amutron Inc. began operations on January 1, 2011. The company employs 10 individuals and pays each 480 per week. Employees earned 20 unused vacation weeks in 2011. In 2012, the...
- Q Make a chart to show who reports to who. Rank the positions. 1) Chairman of Executive Finance Committee of the Board of Directors; Director 2) Chairman of the Board of...
- Q Power Company owns 90 percent of Pleasantdale Dairys stock. The balance sheets of the two companies immediately after the Pleasantdale acquisition showed the following amounts: ...
- Q Investors who obsessively monitor their last few stock purchases while paying little attention to the rest of their portfolio are exhibiting the tendency known as ...
- Q REC 1/2 inventory 2/2 purchases 500 units 3/2 5/2 purchaes 6/2 300 units 3000 $ 7500$ sold units 600 units for 12000$ cash 400 units 1.4$ per unit 450...
- Q Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $13. At the start of January 2021, VGCs income statement accounts had...
- Q Connor plans to leave the CAP Partnership. The recorded value of his capital account is $48,000. The remaining partners Ashley and Peter agree to pay Connor $40,000 cash and Connor...
- Q En el costeo directo, solo se incluyen _____ costos de fabricacin en el costo del producto. a.en maysculas b.fijo c.variable d.nocional
- Q Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 14,000 students are enrolled on campus; however, the admissions office is forecasting a 8...
- Q When you are using Tally, everything you need is right there when you need it. You can edit vouchers from within the Balance Sheet, change the Stock groups from within...
- Q The following information is available for Baxter Manufacturing for April: Actual machine hours 870 Standard machine hours allowed 960 Denominator activity (machine hours) 1,020 Actual fixed overhead costs $4400 Budgeted...
- Q Torquay Incorporated's (a calendar-year taxpayer) 2021 taxable income was $15,837,850, and its tax liability was $3,325,948. Torquay's director of tax estimates that the corporation's 2022 taxable income will...
- Q Read thoroughly the given case (Caltron Ltd.). Assume that you are Dan OShea and the company decided to appoint you as the consultant. Prepare a written report that will answer...
- Q Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance...
- Q The costs that should be included in a make or buy decisions are the? A. variable costs B. relevant costs C. nonrecurring costs D. sunk costs
- Q The following table gives abbreviated balance sheets and income statements for Starbucks. At the end of fiscal 2014, Starbucks had 748 million shares outstanding with a share price of $81.25....
- Q A financial statement audit is designed to Provide assurance on internal control and to identify significant deficiencies and material weaknesses. Obtain reasonable assurance about whether the financial statements are free...
- Q It is the portion of sales spent on food. A restaurant can set menu prices based on a target cost. Select one: a. Food Cost...
- Q MetaMilo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: ...
- Q The Little Shell Co. purchased a drilling machine on 1 January 2019 for 174,000. The useful life of the machine is estimated at three years with a residual value...
- Q In sales of assets between companies in a group, the unrealised profits are adjusted out from the buyer's books because the intercompany profits are recorded in its books. Select one:...
- Q make a cash flow for the next three years for trader of fruits and vegetables
- Q Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year-end: Job 1 Job 2...
- Q (16d) Deductions for AGI (Obj. 3) 402.02 True or false: State and local government officials paid on a fee basis report their business expenses on Form 2106.
- Q Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses...
- Q What are the benefits of collecting all know GAAP in one repository ?
- Q The following information is for Douglas Manufacturing Company for the month of May. All materials are added at the beginning of the production process. Beginning Inventory 2,350 units,...
- Q In the Shaping Department of Rollins Company the unit materials cost is $5.00 and the unit conversions cost is $3.00. The department transferred out 20,000 units and had 2,500 units...
- Q Which one of the following is the method of assessing the internal control system of an organization?
- Q Please respond to the following: -Use the Internet to research a publicly traded company that received an unqualified audit report from external auditors and faced accusations of reporting false...
- Q 1 A) Adom Ltd, is a private company in Ghana operating in the manufacturing sector. Below is a Statement of financial position and a summarized statement of income with comparatives...
- Q The current portion of long-term debt should be Paid immediately. Combined with the rest of the long-term debt in the...
- Q The following trial balance of Wildhorse Co. at December 31, 2017 has been properly adjusted except for the income tax expense adjustment. Wildhorse Co. Trial Balance...
- Q What does the QB Labs selection show? What does the quickbook labs selection show?
- Q Zaneba Company enters materials at the beginning of the process. In January, there was no beginning work in process, but there were 200 units in the ending work in process...
- Q An entity reports net income before income taxes this year of $300,000. The enacted tax rate is 30%. The entity has reported a $40,000 gain on an installment sale that...
- Q Identify key components of the Sarbanes-Oxley Act of 2002 and describe its primary objective. Explain what the criticisms are surrounding the Act. Explain the economic consequences for companies as a...
- Q Tabitha had to pay her friend $1,100, 3 months ago and she has to pay $490 in 4 months. If her friend was charging her an interest rate of 1.10%...
- Q eBook Question Content Area Entries and Schedules for Unfinished Jobs and Completed Jobs Kaymer Industries Inc. uses a job order cost system. The following data summarize the...
- Q Your company provides catering services throughout the United States. As part of the companys growth strategy, they plan on acquiring businesses which complement the catering service by providing full service...
- Q Cul se considera que es el valor de salvamento de los equipos viejos? aUn costo relevante bUn costo no incremental c.Un costo de oportunidad dUn costo...
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