Accounting question and answers for November 27, 2023
- Q A debt of $7,703 is to be settled by two equal payments due in 1 months and 7 months respectively. Determine the amount of the equal payments if money is...
- Q Which of the following is helpful if you want to know the net effect of various transactions on an item without going through all the journal entries? ...
- Q Pablo Company is considering buying a machine that will yield income of $2,100 and net cash flow of $17,300 per year for three years. The machine costs $52,200 and has...
- Q What makes a Holder in Due Course magical as compared to an ordinary holder? How does one qualify as a HDC?? When is a check deemed "overdue"? What is the...
- Q Which of the following is not an advantage of a company? Taxation is generally lower for companies than it is for individuals. It has the ability to raise large amounts...
- Q maria es una fotgrafa independiente con una oficina en casa calificada. Cul de los siguientes es un gasto comercial calificado de Mara? a) inters hipotecario de la vivienda ...
- Q You are planning a retirement party and have rented space at a capacity of 79 people at a total cost of $790 for the evening. Food is expected to cost...
- Q A merchandiser shows total current assets of $58000 and the following additional information: Cash and Cash Equivalents $11500 Accounts Receivable 5100 Property. Plant and Equipment 31500 Other long-term assets 7600...
- Q Lawyers and legal assistants are not allowed to talk about their clients and cases. This is to make sure that clients are free to tell the lawyers everything that...
- Q Monty Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 230 $12...
- Q Las actividades de un parque automotor central que suministra y da servicio a vehculos para el uso de empleados municipales en asuntos oficiales deben contabilizarse en un(a)? A. Fondo...
- Q The bank reconciliation: a. should be prepared by an employee who records cash transactions b. is part of the internal control system c. is for information purposes only d. is...
- Q Cules de los siguientes gastos, si los hay, son deducibles ? a.Zapatos de seguridad comprados por un plomero empleado de una empresa. b.Gastos de empleados no reembolsados. ...
- Q The following information pertains to Julia & Company: March 1 Beginning inventory = 26 units @ $5.30 March 3 Purchased 15 units @ 4.50 March 9 Sold 22 units @...
- Q Explain and discuss the term utility and utilitarism
- Q Equity securities: a. create a debtor-creditor relationship. b. have a due date for the balance owed. c. are typically subject to a periodic interest charge. d. transfer ownership interest in...
- Q Investment centers differ from profit centers in that they A-are responsible for net income only B-are able to invest in assets C-have less responsibilities than cost centers and profit...
- Q Mastery Problem: Job Order Costing Purl of Great Price Company Maria Young is the sole stockholder of Purl of Great Price Company (POGP Company), which produces high-end knitted sweaters and...
- Q A VUCA environment can be dangerously disruptive, discuss how the VUCA environment can affect the corporate finance function of your firm.
- Q Nonresidential real property in the U.S. (such as office buildings, factories, and workshops) placed in service on or after May 13, 1993, is depreciated using _____________. The straight-line method...
- Q Amit &Co. has been running a company for last five years. They are into business of manufacturing readymade garments for old people. Now, they plan to...
- Q Port Allen Chemical Company processes raw material D into joint products E and F. Raw material D costs $6 per liter. It costs $100 to convert 100 liters of D...
- Q A company performed services for $3,000. The customer paid cash for $500 and agreed to pay the remainder in 30 days. Which of the following entries would the accountant use...
- Q Q1. A bond has 8 years until maturity, a semi-annual coupon of 8%, and sells for 110. What is its yield to maturity? (solve using excel) please show how Q2....
- Q Briefly explain how the Conceptual Framework and accounting standards apply to internal accounting recording and reports?
- Q Thomson Corporation owns 70 percent of the outstanding stock of Stayer, Incorporated. On January 1, 2013, Thomson acquired a building with a 10-year life for $458,000. Thomson depreciated the building...
- Q Double Boe Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year: The cost of indirect materials requisitioned for use...
- Q Paulson Company issues 10%, four-year bonds, on December 31, 2015, with a par value of $107,000 and semiannual interest payments. Semiannual Period-End / Unamortized Discount / Carrying Value (0) 12/31/2015...
- Q una corporacin tiene 100,000 acciones preferenciales al 4% en circulacin. adems, hay 100,000 acciones ordinarias en circulacin. el valor nominal de cada uno es de $100. si se paga...
- Q Sales at 5000 units ? refer image
- Q Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $40,000. Budgeted cash receipts total $121,000 and budgeted cash disbursements total $115,000. The desired...
- Q Analyzing the dollar change of a financial statement item from year-to-year is more helpful than analyzing the percentage change because the dollar change is more relative and helpful when comparing...
- Q QUESTION ONE 1.1 Classify each of the following costs as direct or indirect cost. (10) 1.1.1 Fabric used in the manufacture of shirts. 1.1.2 Grease for the factory machines. 1.1.3...
- Q EX 8-3 Static budget versus flexible budget Obj. 2,4 The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static...
- Q 1. Are there other items not included in your analysis that might affect a sports return on investment? Discuss below, give at least two reasons to support your answer. Data...
- Q The interest cost component of a defined benefit pension plan is computed as the a. beginning liability times the current earning rate of the plan b. beginning liability times...
- Q Continuing with the company selected in Unit 2, think about the types of financial data that would be included and excluded in differential analysis. Propose which specific revenues and costs...
- Q TRUE OR FALSE 3. Financial statements provide all the information that existing and potential investors, lenders and other creditors need.
- Q The following labour standards have been established for a particular product: Standard labour hours per unit of output 3.0 hours Standard labour rate $12.17 per hour The following data pertain...
- Q 1- ABC, Inc. purchased inventory from a company in Brazil on December 15, 2021 and agreed to pay 15,000 Brazilian reais. The payment was made on January 25, 2022. The...
- Q Which of the following reports, revenues and gains earned and expenses and losses incurred during a period? a. Statement of owners' equity b. Adjusted trial...
- Q The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2016: Cash $ 240,000 Accounts Receivable 966,000 Merchandise...
- Q Comparative Statements of Shareholders Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013. ...
- Q Cole Corporation issued $550,000, 6%, 23-year bonds on January 1, 2014, for $488,006. This price resulted in an effective-interest rate of 7% on the bonds. Interest is payable annually on...
- Q At the beginning of 2017, Laura Company issued 10-year bonds with a face value of $4,000,000 due on December 31, 2022. The company will accumulate a fund to retire these...
- Q Si un activo cuesta $ 300 000 y se espera que tenga un valor de rescate de $ 60 000 al final de su vida til de 10 aos, y...
- Q A married couple purchased their principal residence for $600,000. They spent $80,000 on improvements. After living in it for 6 years, the couple sold the home for $1,400,000...
- Q During the current year, Star County levied $3,000,000 in property taxes, 1.5% of which is expected to be uncollectible. During the year, the county collected $2,700,000 and wrote off $25,000...
- Q On November 1, Orpheum Company accepted a $10,000, 90-day, 8% note from a customer settle an account. What entry should be made on the November 1 to record the...
- Q Moses, a qualified motor mechanic with 22 years of experience, began his own business, Command Vehicle Repairs. On 1 March 2023, Moses withdrew money from his Retirement Fund and deposited...
- Q Robinson company purchased $100,000 of 8% bonds of Evermaster Corporation on January 1, 2013, at a discount, paying $92,278. The market rate was 10% and the interest was compounded semi-annually....
- Q Describe the different components of stockholders' equity. Access the balance sheet of a publicly traded company, and discuss what items appear in the stockholders' equity section. Read the notes to...
- Q a) discuss the types of budgeting? b) who uses budget (e.g managers, senior managers)? c) how they use budgets and why they need budgets?
- Q Discuss e-commerce risks for revenue and expense cycles and the internal controls required to mitigate these risks. Discuss how audit command language (ACL) can be applied to test these...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Data for Hermann Corporation are shown below: ...
- Q Banc Corporation Trust is considering either a bank-wide overhead rate or department overhead rates to allocate $396,000 of indirect costs. The bank-wide rate could be based on either...
- Q Question 9. 9. (TCO G) Which of the following events that occurred after the balance sheet date but before issuance of the financial statements would require...
- Q An entertainment company received $6 million in cash for advance season ticket sales. Prior to the beginning of the season, these sales should be recorded as a liability. a. True...
- Q Does E& Group make any acquisitions during 2021? How do these acquisitions affect the goodwill? Support your answer by writing the page number in annual report.
- Q Requirement 1. Prepare a multi-step income statement for Clarkson Motorsports for the fiscal year ended November 30, 2012. Include earnings per share. ...
- Q The Gilbert Instrument Corporation is considering replacing the wood steamer it currently uses to share guitar sides. The steamer, purchased just 2 years ago, is being depreciated on a straight...
- Q ACME Corp. issued 1,000 common shares of stock in exchange for $12,000. ACME also borrowed $30,000 from the bank, promissing to repay it in two years. ACME paid $35,000 in...
- Q Webster Video received a promissory note of $8,000 for 9 months at 7% simple interest from one of its customers. After 4 months, the note was discounted at Jefferson Bank...
- Q THE GAP INC. 1. (*) Compare the companys cash position (The Gap Inc) for the year under review with that of the previous year (2020/2019). 2. Comment on the improvement...
- Q During the current year, merchandise is sold for $759000. The Gross Profit is $392000. What is the amount of the Cost of Merchandise Sold?
- Q The Paving Company Case According to the company website, Fine Works Pavers, located in Green Valley, California, is a leading landscape and masonry supplier. The company supplies items such as...
- Q What are the classifications of net position in the government-wide statement of net position and what is included in each category?
- Q Which of the following is NOT true regarding valuation models? A. None of the options B. Residual income model (RIM) and residual operating income model (ReOI) gives less weight to...
- Q What is the role of a responsibility center in budgeting/as a control?
- Q The standard rate of pay is $10 per direct labor hour. If the actual direct labor payroll was $39,200 for 4,000 direct labor hours worked, the direct labor price (rate)...
- Q On October 2, 2011, Starbucks Corporation reported, on its Form 10-K, the following (in millions): 2011 2010 Total expenses before taxes $10,452.40 $9,759.10 Operating income 1,728.50 1,419.40 Net earnings 1,248.00...
- Q What is an "acclerated" depreciation method? How does it differ from a straight line depreciation method? Make sure you explain your answer throughly!
- Q Should insurance companies spread the risk amongst all of their policyholders as is often done in automobile insurance or is there better way to deal with the matter of risk?...
- Q Bernard, Inc. prepares a statement of cash flows using the visual inspection method. in 2016, Bernard had net income of $54,000. In addition, the following information is available: Gain on...
- Q Product U23N has been considered a drag on profits at Jinkerson Corporation for some time and management is considering discontinuing the product altogether. Data from the company's accounting system appear...
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