Accounting question and answers for October 15, 2023
- Q Kara Ries, Tammy Bax, and Joe Thomas invested $80,000, $112,000, and $128,000, respectively, in a partnership. During its first calendar year, the firm earned $249,000. Prepare the entry to close...
- Q Perch Co. acquired 80% of the common stock Float Corp. for $1,600,000. The fair value of Float's net assets was $1,850,000 and the book value was $1,500,000. The non-controlling interest...
- Q Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly payments and the total interest for the loan
- Q The standard cost card for a pizza indicates that one unit of 16-inch-pizza requires 30 pepperonis with a pepperoni standard cost of $0.5 per unit. During November, 3,200...
- Q my last solution was wrong AS SHOWN IN THE IMAGE BELOW. ORIGINAL QUESTION IS AT THE BOTTOM. THANKS Details of Notes Receivable and Related Entries Gen-X Ads Co. produces...
- Q Coles Services, Inc., has S8,500 cash on hand on March 1. The company requires a minimum cash balance of $7,500. March cash collections are $548,580. Total cash payments...
- Q Make-or-Buy Decision, Alternatives, Relevant Costs Each year, Basu Company produces 10,000 units of a component used in microwave ovens. An outside supplier has offered to supply the part...
- Q All of the following costs associated with intangibles should be capitalized except a. legal costs incurred on the successful defense of a patent infringement suit. b....
- Q Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2024: Operating income $ 200,000 Income on discontinued operations...
- Q A machine with a cost of $150,000, current year depreciation expense of $22,000 and accumulated depreciation of $95,000 is sold for $48,000 cash. The amount(s) that...
- Q Problem I take a home loan of $100,000 to be repaid in thirty years or (1230 =360)360 equal monthly installments. If the interest rate...
- Q Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first day of operations, Koontz purchased 1,250 units of inventory that cost $5.90 each. On January...
- Q Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly payments and the total interest for the loan
- Q i need help on this question as you can see im getting it incorrect Sunland Inc. is a private company reporting under ASPE....
- Q Which of the statements is FALSE regarding purchasing power risk. When prices decline, purchasing power rises. Since the thirties, the purchasing power of the dollar has been stable. Since the...
- Q Sunland Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2019 and 2020 follow. Sunland Medical Comparative...
- Q Pointer Company buys a piece of property in north Toronto that has the following costs associated with the purchase: Invoice price for land and building = $319,000 Legal fees associated...
- Q Corp10 is buying custom-built machinery with a contract purchase price of $943,420. The manufacturer has offered the company a payment plan that would require five annual beginning-of-year payments of $200,000...
- Q Why do you think Comtex included balanced scorecard measures relating to employee safety and community engagement? How well is the company doing on these measures?
- Q Swifty Processes est involucrado con enfoques innovadores para encontrar reservas de energa. Swifty construy recientemente una instalacin para extraer gas natural a un costo de $11,1 millones. Sin embargo, Swifty...
- Q Teri pays the following interest expenses during the year: Home mortgage interest on personal residence $8,500 Credit card interest on personal purchases 550 Interest on loans used to purchase investments...
- Q Which of the following statements regarding amortization is true? a. cash interest payments on bonds equals interest expense on the income statement when there is amoritization of bond premium b....
- Q On December 1, year 1, Frick Co. gave Frack Co. a $200,000, 11% loan. Frick paid proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. Principal...
- Q Nancy Corporation agreed to sell its common stock to Eddie Corporation for five monthly payments of $100,000. Eddie Corporation made the first payment but did not make any other payments....
- Q 6. It is estimated that the total cost of constructing a condominium floors high is C(x)=x2+250x+600(RM000). If x=10, find a) The total cost, b) The...
- Q 28 A company issued 5-year, 7% bonds with a par value of $100,000. The company received $97.947 for the bonds. Using the straight-line method,...
- Q Problem 8-21 (Algo) Schedules of Expected Cash Collections and Disbursements [LO8-2, LO8-4, LO8-8] You have been asked to prepare a December cash budget for Ashton Company, a distributor...
- Q Andretti Company has a single product called a Dak. The company normally produces and sells 88,000 Daks each year at a selling price of $62 per unit. The companys unit...
- Q Given the following conditional value table Very Favorable Market 5250.000 $270.000 $100,000 50 States of Nature Average Market $180,000 $185.000 550.000 Unfavorable Market - $200.000 -...
- Q On December 31, 2017, Ohare, Inc. paid 430,000 for all of the common stock of High Corp on that date, High had assets and liabilities with book values of $400,000...
- Q 0 4 Required information The following information applies to the questions displayed below Doyle Company issued $470,000 of 10-year,...
- Q You are required to prepare a statement showing the working capital needed to finance, a level of activity of 2,40,000 units of production. You...
- Q How do you think the course, accounting Costs/Budgets, can help you in planning your career ( accountant)? What do you want to learn from this course?
- Q Ch. 9 discussed the different levels of decision making: strategic, managerial, and operational. See Making Organizational Business Decision in Ch. 9 to review. Using the concept of CRM discussed...
- Q parts a and b please The following transactions are for Ivanhoe Company. 1. On December 3, Ivanhoe Company sold $670,800 of merchandise to Sarasota...
- Q Identify the wrong statement about the process of Factoring Accounts receivable: a. Factoring company pays the business organization the invoiced amount after collecting the amount from customers b. Business organization...
- Q Jadeveon, a self-employed attorney, has a profit sharing plan with a contribution rate of 15% of compensation. Jadeveons earned income after the deduction of one-half of self-employment tax, but before...
- Q Problem 11-11 (Part Level Submission) On January 1, 2015, a machine was purchased for $99,900. The machine has an estimated salvage value of $6,660 and an...
- Q Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable...
- Q Transaction costs are taken into account if they are incurred in a transaction or other event giving rise to an asset or a liability
- Q LANDWEHR CORPORATION Balance Sheets December 31 2018 2017 2016 Cash $25,000 $20,000 $18,000 Accounts receivable (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 75,000 70,000 45,000 Plant...
- Q Following is information from ABC Company's most recent annual report: 1. Net income this year was $21 million. Last year's net income was $20 million. 2. The current...
- Q Question 2 of 3 The comparative balance sheets for Oriole Company as of December 31 are...
- Q Explain how delivery charges for inventory purchases are treated differently than delivery charges for inventory sales.
- Q INSTRUCTIONS TO THE CEO OF GOLIATH CORPORATION Congratulations! You have just been appointed CEO of Goliath Corporation. One of the first items to cross your desk is the...
- Q How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 11 years, assuming that the account will...
- Q Greyson Corporation has 5,000 shares of $50 par value common stock outstanding. The company conducts the following treasury stock transactions: Purchased 400 shares of its common stock...
- Q Gunnar Company gathered the following reconciling information in prepafing its September bank reconcliation: Calculate the adjusted cash balance per books on September 30 . a. 52.366...
- Q Single-entry systems, that is incomplete records, are sometimes used by small businesses, because they know very little about basic bookkeeping principles
- Q The production manager in Wildhorse's business unit pitched an idea to her, suggesting their unit would generate $54,000 of new pt History is year by purchasing a new piece of...
- Q Please answer a and b j. Cost of a measles vaccine administered at an outpatlent thnic a a hospital A particular patient For each...
- Q Product Sales Revenue Revenue from product sales is recognized upon transfer of control of products to customers in an amount that reflects the consideration we...
- Q I want the answer ASAP The business model of XYZ eCommerce company is represented by the following Business Model Canvas. This ince argest...
- Q Requirement 1. Compute the payback, the...
- Q The accounting records of Batiste Company provided the data below. Net loss Depreciation expense Decrease in wages payable Increase in accounts receivable Decrease in inventory Amortization of patent...
- Q Division A of Aztec Manufacturing purchases materials to be used in production from an outside supplier for $20 per unit. The same materials are produced by Division B. Division B...
- Q Question 2 of 8 0.33/1 OPTY Current Attempt in Progress Your answer is partially correct At the end of 2021. Sheridan Company has accounts receivable of...
- Q Identify several types of manufacturing companies for which process costing would be an appropriate product-costing system. What characteristics do the products of these companies have that would make process costing...
- Q write the answer in 2-3 steps with clear hand writing or typed answer Discuss the importance of implementing Continuous Change in an organization
- Q 5 Pleasant Cold Limited manufactured and sold 1,000 refri. gerators in the year ending 31st March, 1979. The summarised Trading and Profit...
- Q It had been a quiet Monday morning for Anna Hogue, senior project manager at Flagstone Consulting. Everything seemed to be falling into place for the companys first conference, Healthcare Management...
- Q If the contribution margin is $55,000, the total variable expense is $30,000, and the Fixed cost is $15,000. Then Total Profit is : ...
- Q The Limited Liability Company (LLC) is a hybrid entity form that was created to address some weaknesses in the basic entity types. In this discussion forum, you are to: Discuss...
- Q Question 1 of 8 > - / 1 ili View Policies Current Attempt in Progress Crane Corporation had the following transactions. 1. 2. 3. Sold land (cost $9,100)...
- Q At a sales level of $285,000, the magnitude of operating leverage for Donuts Unlimited is 4.3. If number of units sold increase by 10%, profits will increase by:...
- Q Discuss accounting for contingencies
- Q on January 1,2020, ABC, company purchased 3,000 shares of Vancouver Company at a cost of $32 each plus a brokerage fee of $1500. These 3,000 shares represent a 16% interest...
- Q explain why the three (or four) part state tax formula is fair
- Q Darien Garcia owns a chain of travel goods stores. Last year, his sales staff sold 16,000 suitcases at an average sale price of $140. Variable expenses were $105 per suitcase...
- Q
- Q Required information Skip to question [The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $46,000....
- Q Q1: Explain why companies do not include principle payment requirement when calculating earnings to fixed charges ratio.
- Q Identify the direct cost variances on the variance report shown and breifly describe the reasons for the variances. Flexible Budget Variance Sales Volume Variance Master (Static)...
- Q Flounder Company is considering changing its inventory valuation method from FIFO to LIFO because of the potential tax savings. However, management wishes to consider all of the effects on the...
- Q 20) A pending court case with a probable unfavorable outcome is an example of a contingent liability which should be disclosed on the balance sheet and does require...
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