Accounting question and answers for October 13, 2023
- Q on 10 . red On 1/1/ 2019, 1 Co acquired 75% of M Co outstanding common stock for cash. The fair value of the...
- Q For the following promissory note, find the missing entry for days of interest or maturity date (due date). Then compute the amount of interest due at maturity and the maturity...
- Q The balance sheet caption for common stock is the following: Common stock, $6 par value, 2,460,000 shares authorized, 1,130,000 shares issued, 1,050,000 shares outstanding Required: a. Calculate...
- Q Which statement is true regarding intercompany sales of merchandise, when the subsidiary has a noncontrolling interest? A. If the parent sells merchandise to the subsidiary, the total gross margin on...
- Q 1. In 2019, its first year of operations, Brighton Finance Corporation, based in London, UK, had the following transactions regarding its investments (currency in British pound, ): May 1 Purchased...
- Q Financial leverage (FL) a. Compute return on equity (ROE)...
- Q Can you please help me with this question it is urgent Q 15.75: On January 1, 2020, Cooper Company borrowed $50,000 and signed a 5-year, 6% fixed...
- Q In January, Donna's dad, who is 75 years old, agreed in an email with his financial advisor that he wanted to take a distribution of $50,000 from his IRA and...
- Q On January 1, 2024, Entity B issued $500,000, 8% bonds payable at 103 in order to finance a new venture. The bonds mature in 5 years and pay interest annually...
- Q Current Attempt in Progress Dover Inc. incurred the following costs during the year ended December 31, 2020: Laboratory research aimed at discovery of new knowledge Design of new...
- Q Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns...
- Q BE7-25 Jaguar Corporation is preparing a bank reconciliation and has identified the following potential reconciling items. For each item, indicate if it is (a) added to the balance...
- Q Top managers of Rhode Island Flooring are alarmed by their operating losses. They are considering dropping the laminate flooring product line. Company accountants have prepared the following analysis...
- Q The Svenson Corporation manufactures cellular modems. It manufactures its own cellutar modem circuit boards (CMCB), an important part of the cellular...
- Q A manufacturer began operations on April 1 and reports the information below. All jobs are sold for 20% above cost./p> \table[[\table[[Manufacturing],[costs]]],[Job number,April,May,Job Status at May 31],[1,$800,$2,120,Completed...
- Q 4.7 Bond Issuance and Retirement A Dutch company reports a total amount of outstanding long-term debt of 6,455 million on December 31,2013. The company's...
- Q Tennies Clinic uses client-visits as its measure of activity. During November, the clinic budgeted for 4250 client-visits, but its actual level of activity was 4240 client-visits. The clinic...
- Q El equipo fue adquirido a principios de ao a un costo de $76,020. El equipo fue depreciado utilizando el mtodo de lnea recta con base en una vida til estimada...
- Q Problem 3. (5pts) Monson Company completed the following transactions with respect to its manufacturing operations during April 2012: a. Materials costing $146,000 and indirect materials costing $17,800 were...
- Q 12 Question 4 a Dura Company operates a premium wine outlet in the Napa Valley of CaliforniaOntalon bottles sell for $18 Daily costs and valable costs...
- Q Mike Saxon is negotiating the purchase of a business. The final purchase price ($2,000,000) has been agreed upon, but the allocation of the purchase price to the assets...
- Q only missing variable expenses Required information [The following information applies to the questions displayed below) Raner. Harris & Chan is a consulting firm that specializes...
- Q 1. The number of sales per week of an $80 pair of jeans is 25. The number of weekly sales goes up to 45 when the price is...
- Q In this module, the discussion focuses on the similarities and differences among costing systems. You should be able to describe the systems and also identify which system would be most...
- Q The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The May 31 bank statement and the May T-account for cash (summarized). Martin...
- Q units, but its production was 79,000 units. It had no beginning finished goods inventory for the current period. Diaz COMPANY 1,367,100...
- Q The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of 340,000 units with revenues of $3,400,000. Total variable costs were budgeted...
- Q prepare numbers 1 and 2 -36B (6) Preparing a bank reconciliation and journal entries [20 min] The October 31 bank statement of White's Healthcare has...
- Q 2021E 2022E 2023E 2024E 2025E Live Case Income Statement Assumptions Annual Sales Growth Cost of Sales (% of Sales) SG&A Expense (% of Sales) Interest Rate Effective...
- Q The following is a correct journal entry: \table[[Accounts Receivable,14,000,],[Cash,,14,000]] What is the impact of this journal entry? Multiple Choice Increase to assets and increase to owners' equity...
- Q Maria Jewelry manufactures jewelry. In October, Maria is planning to make 500 rings, 400 bracelets, and 210 pendants. Each ring requires 3 ounces of gold and 2 semi-precious...
- Q A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory Debit Credit Beginning Purchases 25,eee 100,eee 89,80e Direct materials used 15,808 Indirect materials used Ending 30,eee...
- Q Thad, a single taxpayer, has taxable income before the QBI deduction of $212,100. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports...
- Q ! Part 1 of 2 4 Required information [The following information applies to the questions displayed below.] NewTech purchases computer equipment for $256,000 to...
- Q Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units...
- Q D | Question 23 2 pts Cyth Company sold merchandise on account for $28,000 under of 2/10, n/30. If the company uses the net...
- Q PROBLEM 1(10 marks) Selocted intormation inm. ADDITIONAL INFORMATION: Bhojani Limited received $5,000 in interest from foreign corporations was subject to withholding tax of $1,250.(2)98% of Bhojani Limited's...
- Q Problem 8-6A (Video) Partially correct answer. Your answer is partially correct. Try again. Comm Devices (CD) is a division of Worldwide Communications, Inc. CD produces restaurant pagers and other personal...
- Q Asheet metal fabrication plant in the province of Quebec studying a replacement decision for...
- Q Which of the following statements is true of the economic order quantity decision model? O DO The economic order quantity increases with higher demand...
- Q On January 1, 2018, Byner Company purchased a used tractor. Byner paid $4,000 down and signed a noninterest-bearing note requiring $41,000 to be paid on December 31, 2020....
- Q ! Required Information [The following Information applies to the questlons displayed below.] The Platter Valley factory of Bybee Industrles manufactures field boots. The cost...
- Q 5-16. Two alternative water supply systems are being considered for a small community. Compare the present worths of the costs of 20 years' service...
- Q adjust the following entries based on the given INSTRUCTIONS: (1) Complete the adjustments section of the worksheet [WS]. Use the following information. (a) On November...
- Q Which of the following best describes the concept of "phantom estate" for estate tax purposes? Group of answer choices A phantom estate exists only when a property...
- Q Exercise 12-7 The following three accounts appear in the general ledger of Cullumber Company during 2019 Equipment Date Jan. Balance July 31 Prchase of equipment Sept. 2 Cost...
- Q please help urgent!! with details please thanks Check my work Prepare entries to record the following non-strategic investment transactions of Arrowhead Investment...
- Q Required information Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively. Anne...
- Q 7 Following are transactions for Vitalo Company 2 points Nov. 1 Accepted a $10,000, 180-day, 7% note from Kelly White in granting a time extension on her past-due...
- Q Kelley Company reports $1,875,000 of net income and declares $262,500 of cash dividends on its preferred stock for the year. At year-end, the company had 390,000 weighted-average shares...
- Q please answer both Which of following is not correct about normal costing? Select one: O a. Predetermined rate is used to apply direct...
- Q thued ye.000 shares of comnon shach at 57 per ahare. lesuld 36.000 sheres of common shock of 5 if per thare. Eeponted...
- Q b) Daniel Nguyen, a well-known dentist in Ballarat, has decided to join a small group of dentists so that he no longer has to be on...
- Q The activities of the user entity and the service organization have a high degree of interaction. The user auditor O Should obtain absolute assurance that the...
- Q Operating cash flow. Find the operating cash flow for the year for Robinson and Sons if it had sales revenue of $80,400,000, cost of goods sold of $34,300,000,...
- Q South Africa Corporation has been in the business of delivering small packages for local companies within the City of Tshwane, since the year 2000. The following information concerning financial activities...
- Q Lovell purchased a used van for use in its business on January 1,2020. It paid $11,000 for the van. Lovell expects the van to have a useful life...
- Q Dividing Partnership Net Income Steve Queen and Chelsy Dane formed a partnership, dividing income as follows: 1. Annual salary allowance to Dane of $145,140. 2. Interest...
- Q A company employs 10 people with a total gross monthly salary of 40,000. The employer's social security contribution rate is 40%. The employee social security contribution rate is 20%. Wages...
- Q 9. Ernie Brooks lived and worked exclusively in California until he retired on December 31, 2020. He moved to Nevada on January 1, 2021. His former California employer pays its...
- Q The Relax Inns rooms department has annual sales of $700,000 and variable costs of $200,000. The inns food department has annual sales revenue of $300,000 and variable...
- Q 2) The following transactions occurred during 2020, for the Miller Company. A. A two-year fire insurance policy was purchased on July 1. 2020, for...
- Q Free Company (lessee) leases a machine from Denner Corp. (lessor) under an agreement which meets the criteria to be a financing lease for Free. The six-year lease...
- Q Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of $3,300. The...
- Q The Scottie Sweater Company produces sweaters under the "Scottie" label. The company buys raw wool and processes it into wool yarn from which...
- Q need help please Direct Materials Purchases Budget: Direct Labor Budget Macchu Company produces stuffed toy animals; one of these is "Andie the Liama." Each...
- Q Given the following adjusted trial balance: Net income for the year is: $7.490 $17,090 Net income for the year is: $7,490 $17,090 $21,690...
- Q On August 3, Cinco Construction purchased special-purpose equipment at a cost of $5,654,500. The useful life of the equipment was estimated to be eight years, with an estimated residual value...
- Q The following information describes actual production activities of the Cheers Corp.: 8,000 units were completed during the year Budgeted standards for each unit produced: 1lb. of...
- Q help asap! Exercise 11-9 (Algo) Return on Investment (ROI) and Residual Income Relations [LO11-1, LO11-2] A family friend has asked your help in analyzing the operations of...
- Q The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19...
- Q Cash and accounts receivable for Adams Company are as follows: \table[[,Current Year,\table[[Prior],[Year]]],[Cash,$76,993,$64,700
- Q Your answer is partially correct. Record the disposals. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required,...
- Q On June 1, 2015, Pronghorn Company and Stellar Company merged to form Pearl Inc. A total of 725,000 shares were issued to complete the merger. The new corporation...
- Q Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for...
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