Accounting question and answers for October 14, 2023
- Q Prepare journal entries to record the following transactions. Create a T-account for Unearned Revenue, post any entries that affect the account, tally ending balance for the account (assume Unearned Revenue...
- Q "The Lexington partnership has a depreciable business asset (personal prop- erty) that it originally purchased for $60,000. The asset now has an adjusted basis of $36,000 and a market value...
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- Q Grandparent makes $70,000 contribution to a Qualified Tuition Program for the benefit of Grandchild. (a) Discuss the gift tax consequences to Grandparent. Does Section 2503(e) apply to the transfer?...
- Q Businesses have several costs and one among them is development cost. They are material cost for companies which are either expensed or capitalised as an asset. Required: Discuss the conceptual...
- Q XYZ Inc's total shareholders' equity is $2,268,820 on Dec 31, Year 3, and $2,692,730 on Dec 31, Year 4. Both balances include $416,290 of preferred shares balance. The preferred shares...
- Q 1) Discuss the significance and differences of value-added and non-value added activites. 2) What is MCE? Discuss its significance and the steps a manager would take to improve the results....
- Q A company sells product A for 15 TL per unit. The variable cost for product A is 10 TL. The company sold 1000 units of product A. The total fixed...
- Q Consider a European put option on AAPL stock with a strike of 300 that expires on 9/18/20. As of close on 4/27, the spot price is 283.17 and the option...
- Q Can the entity report profit under the accrual basis? If so, what is the effect of it
- Q Younis Corporation's income statement appears below: Income Statement Sales (all on account) $1,240,000 Cost of goods sold 780,000 Gross margin 460,000 Operating expenses 416,571 Net operating income 43,429 Interest expense...
- Q FACTS Viola Holloway and Renee Forrow are the sole equal shareholders in the corporation of Holloway And Forrow Enterprises, Inc. The corporation, which is a retail office supplies...
- Q Enterprise Group issued $100,000 of 4 -year, 6% bonds outstanding on December 31, 2015 for $92,000. Enterprise uses straight-line amortization. On April 1, 2016, $50,000 of the bonds...
- Q which of the following is reported interest expense
- Q What is managerial decisions making for special decisions
- Q If you are the owner of a car dealership and you sold a delivery van for $20,000 plus $1000 for shipping by receiving a promissory note that was due in...
- Q Joe Roberts, a retired navy seal operator, started Special Ops Security which focuses on providing personal protection to high profile individuals. The company experienced the following events during its first...
- Q Pearl Company loans Novak Company $2,200,000 at 6% for 3 years on January 1,2025. Pearl intends to hold this loan to maturity and has the...
- Q Pocket Corporation acquired 100 percent of the voting shares of Sleeve Inc. by issuing 10,000 new shares of $5 par value common stock with a $30 market value. Required: 1....
- Q Cost of goods manufactured equals Group of answer choices Actual direct material, actual direct labor, and actual factory overhead costs. Applied direct material, applied direct labor, and applied factory overhead...
- Q Suppose that you work for a company that bids on contracts on a cost plus basis. The bid you are working on has cost of $12,400. Your company normally applies...
- Q Parent Company owns 90% of the outstanding capital stock of Sub Company. During 2021, Sub Company sold merchandise to Parent Company at a markup of 15% of selling price....
- Q The topic will be "Are Different Methods of Accounting for Variable Cost Necessary?"
- Q QUESTION 23 For Federal Income Tax purposes, a Partnership can have a Corporation as a Partner True False
- Q How to find the TCM when you have the Variable expenses, fixed expenses & Break-Even Sales Revenue?
- Q A Treasury bond is quoted with a price of 98-25. It has a coupon of 2.5% and a final maturity of 4/15/45 (and coupon payment dates of 4/15 and 10/15)....
- Q Which of the following is not an inventory cost flow method? a) LIFO b) FIFO c) Weighted average d) Actual
- Q According to a payroll register summary of Crane Company, the amount of employees' gross pay in December was $852,000, of which $80,000 was not subject to Social Security...
- Q (a) Working capital (b) Current ratio (c) Debt to assets ratio (d) Which company has better liquidity? Which company has better solvency? Target 1.58 3.2 Target | Walmart :1...
- Q Accorsi & Sons specializes in selling and installing upscale home theater systems. On March 1, 2016, Accorsi sold a premium home theater package that includes a projector, set of surround...
- Q What is meant by classifying a unit as an investment center vs. a cost or profit center? Discuss how each of the following tools, individually and/or collectively, can and should...
- Q 24-2) Southwestern Edison Company leased equipment from Hi-Tech Inc on January 1, 2021. Hi-Tech manufactured the equipment at a cost of $90,000. Other information: Lease term...
- Q - Which of the following is NOT an effective way of dealing with a production constraint (ie, bottleneck) Raduce the number of defective units produced at...
- Q The management of Martinez Inc is trying to decide whether it can increase its dividend. During the current year, it reported net income of $873,600. It had net...
- Q A group of investors is intent on purchasing a publicly traded company and wants to estimate the highest price...
- Q Nash Company began operations in 2025 and determined its ending inventory at cost and at LCNRV at December 31,2025 , and December 31,2026 . This information is presented...
- Q Compute the selling price of 7.00%,15-year bonds with a par value of $350,000 and semiannual interest payments. The annual market rate for these bonds is 6.00%. Use...
- Q Lori's Bath Supplies has the following Adjusted Trial Balance as of Dec. 31, 2017. Prepare The Income Satement and Balance Sheet doe 2017. Account Cash Accounts Receivable Inventory Store...
- Q 6. Which of the following statements properly describes GAAP accounting for derivatives? A. The unrecognized gains or losses of a speculative derivative may be either included in ordinary income on...
- Q E21-29 Determining fixed cost per unit For each total fixed cost listed below, determine the fixed cost per unit when sales are 50, 100, and 200...
- Q Accounting experts please help ! Always Thumbs up for correct answers Problem 3-12 Predetermined Overhead Rate; Disposing of Underapplied or Overapplied Overhead (LO3-...
- Q beeter ... my will hplatformand puso GOL Zuberingineering Inc bonds have a face value of 51.00. The body ray seminally with maturity of 15 years. What...
- Q on September 12. 1. res of Aspen Company we cared at a price of $2.00 per hores a $185 brokerage common on October 15, a $1.00...
- Q Lowry Music manufacturers music books. They use an ABC costing system. The relevant cost information is provided below: Activity Cost Driver Estimated cost pool Estimated...
- Q Salsa Company is considering an investment in technology to...
- Q I Just need the answers Problem 6-22 Variable Costing Income Statements; Income...
- Q On January 1, 2018, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2019....
- Q Select cell E3 on the Calorie Tracking sheet. Start a VLOOKUP function to lookup the label in cell C3. For the array, use an absolute reference...
- Q Entries in this enterprise fund do not have to be recorded at the government-wide level since enterprise funds and business-type activities at the government-wide level both use the same (accrual)...
- Q prepare cash flow statement CASH FLOW EXERCISE 1 The balance sheets of R Lester are as follows 1.12 20x ixed assets 26,100 13.010)...
- Q ProForm acquired 60 percent of ClipRite on June 30, 2020, for $780,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $560,000 was recognized and is being...
- Q Information on four investment proposals is given below Investment Proposal Investment required Present value of cash inflows Net present value Life of the project...
- Q 1a. Last year a company had sales of $400,000, a turnover of 2.4, and a return on investment of 9%. What was the company's net operating income for the year?...
- Q 5. A machine costs $50,000 to porchase. Salvage value . of machine after 5years - $8,000 Calculate the machines capital recovery cost LEUAC) at 10% 6....
- Q Transaction Cash dividends totaling $3,600 were paid to stockholders on March 31 Account: Dollar amount: Account: Dollar amount: Account: | Dollar amount: Account: |...
- Q Payables to suppliers Income taxes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Preparing a...
- Q Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 570 sun shades...
- Q will pay within the discom Juul til alle believes that all companies thin the discount period. Additionally, Carrie allows a 90-day return nrivilege...
- Q Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's...
- Q How to create an income statement and balance sheet for my company
- Q Help Save & Exit Submit Check...
- Q Accounting for Property, Plant and Equipment During the first few days of the year, Coast Company entered into the following transactions: 1. Purchased a parcel of...
- Q Refer to the 2020 financial statements and related disclosure notes of FedEx Corporation. The financial statements can be found at the companys website Required:...
- Q Answer the requirement 2. and also show all the calculations step by step Darla's Ice Cream Shoppe sold 9,400 servings of ice cream during...
- Q Proli located in Vidalia, GA, uses FOB destination as part of its shipping terms. During the December 31, 2019 year-end audit, you noted that a shipment to Miracle Heel...
- Q (a) Lara Croft has been hired as a new auditor for Jolie Inc. Ms. Croft has suggested the following accounting changes in regards to the companys financial statements. ...
- Q Sunland Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base rate of $1,440 per month. One of the barbers serves as the...
- Q Requirement Determine the bond issue proceeds for each of the following bonds payable. All bonds are issued orn January 1, 2019 (Click the icon to view the Future...
- Q QUESTION 18 Marla Corporation's ledger includes the following selected account balances at December 31, 2012: Paid-in Capital in Excess of Par Value, Common...
- Q A company accepted a trade note from AB Enterprises, face value $3,000, 15 percent interest-bearing, dated August 18, maturing in 180 days. Assume 360 days in a year. Required: Sixty...
- Q Williams Corporation accountants have assembled the following data for the year ended June 30, 2020: Net income .......................................................................................... $? Cost of goods sold .............................................................................. $116,000 Payment of dividends ......................................................................... 6,100...
- Q The information below was extracted from the most recent financial statements of Milton Technologies (in millions, except for stock price): Prior Year...
- Q 59. Maria establishes a Roth IRA. The account is now worth ( $ 199,000 ), consisting of ( $ 75,000 ) in contributions plus ( $ 124,000 ) in...
- Q Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet 7 hours...
- Q please help! Keller Construction is considering two new investments. Project E calls for the purchase of earthmoving equipment. Project H represents...
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