Accounting question and answers for October 24, 2023
- Q Primadonna Company paid $870,000 plus $10,000 in legal costs for a parcel of real estate. This included land appraised at $450,000; land improvements appraised at $170,000; and a building appraised...
- Q Jamie is single. In 2021, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gross tax liability? (Round your answer to the...
- Q Ingram Heating & Cooling reports the following earnings and deductions for their employees for the 1st quarter of the year: Total Federal State City Total Net SS # Earnings Inc....
- Q Question 1 For purposes of deducting child care costs, an eligible child who has a disability must be under 16 at some time during...
- Q You are an investor looking at two options. The first option is a to buy a sole proprietorship with pre-tax income 250,000$. The second option, is to acquire 10% of...
- Q What are the inherent risks associated with the revenue cycle? What internal controls apply to the revenue cycle? Are the accounts related to the revenue cycle more or less subject...
- Q ...
- Q Overhead expenses are: 1.None of these 2.Contributing directly to the running of a business 3.Contributing indirectly to the running of a business 4. Directly related to a specific department 5....
- Q record the transaction P3 offers its employees 14 paid vacation days per year. The vacation days accrue at the end of each year and can be taken anytime after...
- Q HELP PLEASE! On January 1, Sunland Enterprises had 92,000 no-par ordinary shares issued and outstanding. The shares have a stated value of E5 per...
- Q Please answer the following question TOTAL 5 Problem 8-5 Various inventory costing methods [LO8-1, 8-4] Ferris Company began 2018 with 9,000 units of its principal product. The cost of...
- Q these are varies parts to one question. please help and ill give a thimbs up. Iate 1/1 Imagine a small town...
- Q Aging of Receivables; Estimating Allowance for Doubtful Accounts Trophy Fish Company supplies flies and fishing gear products to sporting goods stores and outfitters throughout the western United States. The accounts...
- Q h Make sure you are in a quiet room with no distractions Question 20 7 pts What does it mean to capitalize rather than expense a...
- Q On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1 par, common shares, to be distributed on July 1. The...
- Q Zeke, age 63, is a participant in a qualified plan whereby he is to receive $2,000 per month for an expected period of 25 years. Zeke's adjusted basis in the...
- Q Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 86,000 shares of $5 par common stock. During 2018, Roberto had the following transactions...
- Q Which of the following statements are correct concerning diversifiable, or unsystematic, risks? I. Diversifiable risks can be largely eliminated by investing in 25~50 unrelated securities. II. There is a reward...
- Q Net income was $548,600 in the current year and $370,500 in the prior year. The year-to-year percentage change in net income is closest to: 36%. 68%. 48%. 32%.
- Q Identify 14 permanent and temporary diffences. Determine Federal taxes and deffered tax asset. On January 1, 2020, Reed Enterprises, Inc., was...
- Q On January 2, 2018, Sloan Company issued a 5-year, $8,980,000 note at LIBOR with interest paid annually. The variable rate is reset at the end of each year. The LIBOR...
- Q What is the primary difference between an in-state 4.2% YTM Revenue Municipal Bond, a 2.65% YTM U.S. T-Note, and a BB-Rated 6.72% YTM Corporate Debenture (assuming each has 8 years...
- Q Los bonos de obligaciones son a. bonos garantizados por activos especficos de la corporacin emisora b. bonos que tienen una sola fecha de vencimiento C. emitida nicamente por el gobierno...
- Q Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $307,000. The estimated service life of the...
- Q One Product Corp. (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of...
- Q What is the net present value of the proposed mining...
- Q Crawford Corp. has an ROI of 15% and a residual income of $10,000. If operating income equals $30,000, what is the amount of average invested assets? $200,000 $66,667 $450,000 $150,000
- Q Fully vested incentive stock options exercisable at $66 per share to obtain 26,000 shares of common stock were outstanding during a period when the average market price of the common...
- Q Division, which is operating at 50% of capacity, will put the fitting into a brake unit it produces and sells to an airplane manufacturec....
- Q ABC Limited purchased 6 computers on the 30 December 2022 for $600,000. Initial Allowance is 25% and annual allowance is 20%. What is the capital allowance claimable for 2022? a....
- Q Answer the following questions regarding the following company by examining the summary of significant policies: https://www.sec.gov/cgi-bin/viewer?action=view&cik=86144&accession_number=0000086144-15-000004&xbrl_type=v# Required: 1. What types of inventory does the company have? 2. For each...
- Q WRITE YOUR 300 WORDS DISCUSSION SHOULD I LET THE LAW GOVERN MY LIFE ? (BUSINESS LAW OBLIGATION AND CONTRACT SUBJECT )
- Q In 2021, Emma purchased an automobile, which she uses for both business and personal purposes. Although Emma does not keep records as to operating expenses (e.g., gas, oil, and repairs),...
- Q Which of the followings is not an accounting function? Select one: a. Examine the reasonableness of accounting estimates b. Preparation of financial statements c. Recording, classifying and summarizing economic...
- Q Some believe that International Financial Reporting Standards (IFRS) provide too many choices within its accounting guidance. Is this a possible concern in the area of cash flow reporting in your...
- Q Question 1 A corporate executive cannot be liable for a business crime. O True False
- Q (b) You are asked to prepare a Cash Budget using the cash collections in 2020 for the JJ Pharmacy. The following information...
- Q What are some of the advantages or disadvantages of a non-public company following different or simplified standards of GAAP?
- Q Data concerning three of Kilmon Corporation's activity cost pools appear below: Activity Cost Pool Assembling products Designing products Setting up batches Total Cost $...
- Q When the auditors have chosen to test a control, what relationship will the expected population deviation rate (EDPR) in the sample normally have when compared to the tolerable...
- Q Solaf Company acquired the following machine on July 2,2010: Jan. 2,2011 purchased machine (No.103) for $60000, estimated service 10 years, and estimated salvage value $5000. ...
- Q Required information [The following information applies to the questions displayed below.) The following post-closing trial balance was drawn from the accounts of Little...
- Q Estimation techniques are tools that provide the administrator with the necessary help for these situations where he does not have the information. Because I know Do you use regression analysis...
- Q Required information Schedules of Expected Cash Collections and Disbursements; Income Statement; Balance Sheet [LO8-2, LO8-4, LO8-9, LO8-10] Skip to question [The following information applies to...
- Q Distinguish between an agents actual, implied and apparent authority. Explain why this distinction can be important from the agents point of view.
- Q Companys cash account had balance of 14000 on January 1 Receipts from customers- 50,000 payments for dividends- 10,000 receipts for dividends- 5,000 payments for merchandise- 25,000...
- Q Thompson Manufacturing estimates that it will pay a 5% bonus on annual net incorne after deducting the bonus. If Thompson reports net income of $550,000 before...
- Q Required information [The following information applies to the questions disployed below] The following selected transactions occurred for Corner Corporation: February 1 Purchased seb shares of the...
- Q At the end of May, the following adjustment data were assembled. Analyze and uses theses data to complete parts (5) and (6) a. Insurance expired during May is $275 b....
- Q Exercise 11-19 (Algo) Amortization (LO11-4, 11-5) Janes Company provided the following information on intangible assets: a. A patent was purchased from the Lou Company for $1,350,000 on January...
- Q What are the two methods used to translate financial statements and how does the functional currency play a role in determining which method is used?
- Q Can you please solve only 4,5&6 4- Prepare a multiple-step income statement on the proper worksheet. Your Income Statement should be in good form (proper titles, etc., use examples...
- Q what is the effective tax rate each paid as a percentage if Amazon net income? how do their effective tax rates compared to the corporate tax rates in Australia, UK...
- Q Taylor Bank lends Guarantee Company $150,000 on January 1. Guarantee Company signs a $150,000, 8%, 9-month, Interest-bearing note. The entry made by Guarantee Company on January 1 to journalize...
- Q Brief Exercise 12-10 Flowers Corporation reported net cash provided by operating activities of $485,810, net cash used by investing activities of $274,070, and net cash provided by financing activities of...
- Q Renata Corporation purchased equipment in 2018 for $328,400 and has taken $147,780 of regular MACRS depreciation. Renata Corporation sells the equipment in 2020 for $197,040. What is the amount and...
- Q research and critically analyze this Tourist VAT Refund Scheme and its implications on tax revenues collected in Fiji
- Q Intangible assets are reported on the balance sheet (Points : 5) with an accumulated depreciation account. in the property, plant, and equipment section. separately from other assets. None of the...
- Q Multiple Choice $358,800 $249,200 $404,800 $281,800
- Q COPPERFIELD ENTERTAINMENT Cash Account Records May 1,2024, to May 31,2024 Cash Balance May 1,2024+ Cash Receipts Cash Disbursements = Cash Balance May 31,2024 ...
- Q What are the three portfolios for Investments in Debt Securities? Describe each.
- Q What criteria must exist in order for revenues to be recognized by public entities for reporting periods beginning after December 15, 2017?
- Q Money is largely unimportant in a modern economy since trade and trading arranagements can and are often established through bartering as evidenced by, among other things, the law...
- Q please answer asap will give thumps up Bean ty computing the contritition margniatio (finct itw iosut as a whole mimber) The cartrbubon magin fatio is
- Q For this assignment, choose a culture different than your own. Research their traditions, values, and communication style. In a 1-2 page paper, consider the following questions: What...
- Q 3. Arthur is a tax preparer doing business as a sole proprietor. Under what circumstances could he receive a passthrough deduction that is not limited as a result...
- Q a) In what case do redundant write-offs of general production costs take place? b) What is the best basis for evaluating the results of a companys business activities? c) What...
- Q ch 7 exer #2 A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum...
- Q merry company uses the cash basis of accounting. merry company made $600,000 in payments to its suppliers during the year. merry's beginning inventory was 20000 and its ending inventory was...
- Q A value-added activity is one: Select one: which increases the value of the product from the supplier perspective. which the firm has determined is not essential...
- Q Purchase Transactions and T Accounts Using T accounts for Cash, Accounts Payable, Purchases, Purchases Returns and Allowances, Purchases Discounts, and Freight-In, enter the following...
- Q Blue Ridge Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving...
- Q which of the following type of COD income is not excluded by code section 108 in 2016
- Q Posa Htels Inc, has a sixth night free policy. Every sixth night a guest stays at the hotel is free. Because not all guests stay enough nights to ear a...
- Q ch 7 exer #6 Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300...
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