Accounting question and answers for October 24, 2023
- Q Both For Profit businesses and Government & Not for profit organizations may produce good and/or provide services, and all organizations need to make a profit (revenues greater than expenses) for...
- Q b) Describe how fixed costs behave on a "total" basis vs. a "per unit" basis.
- Q Part B: Describe how the principles of internal control apply to cash receipts
- Q A cost is $50,000 when 25,000 units are produced, and $50,000 when 50,000 units are produced. This is an example of a(n) A. fixed cost. B. direct cost. C. variable...
- Q A company issued $300,000 of 20-year, 8 percent bonds at 96. If interest is paid semiannually, the entry to record the amount of bond interest expense recorded (assuming the straight-line...
- Q Problem 8-2A (Video) Lovell Computer Parts Inc. is in the process of setting a selling price on a new component it has just designed and developed. The following...
- Q Why is it difficult to compare IAS 18, Revenue, to U.S. GAAP There is no single standard in U.S. GAAP that deals solely with revenue or Revenue is not defined...
- Q project management 23-Do the research well, then write in your own words who is project management? With an example! (Submit it@D2L). (minimum 200 words)
- Q Question 7 Pursuant to the 8th Amendment, the government may set excessive bail. True False
- Q 4. Roberts Corp. has an ROI of 23%, total assets of $5,250,000, and current liabilities of $950,000. What is Roberts Corp. operating income? a.) $4,130,435 b.) $1,207,500 c.) $218, 500...
- Q A company sells the following items: 1-Sep beginning balance 18 units @ 13 12-Sep ...
- Q 2. Complete the retained earnings statement for the year (5 marks) 4. Assuming that the...
- Q Please help me solve this problem ratios. Specifically how to use income statement and statement of finanacial posit atios ratios. Specifically how to...
- Q This is a taxation question Q4) Betty owns two residential investment properties in Singapore which are rented out. She has the following income for the year 2020: Net rent surplus...
- Q On February 3, Easy Repair Service extended an offer of $116,000 for land that had been priced for sale at $132,000. On February 28, Easy Repair Service accepted the seller's...
- Q only last 2 SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines, One of the company's products is grilled salmon in dill sauce with...
- Q The opening balance equity account is the default account created by the computer for (?) 1. setting up chart of accounts opening balances 2. setting up payroll 3. setting up...
- Q The owners of a discount motel chain are considering building a new motel. Optimistic, pessimistic, and most likely estimates of several key parameters have been obtained from the local builders...
- Q You currently have $0 in retirement savings. You plan to make monthly deposits of $50 into a retirement account that offers a 3% APR compounded monthly...
- Q Multiple Choice Question 96 Incorrect answer. Your answer is incorrect. Try again. Waterway Industries records purchases at net amounts. On May 5 Waterway purchased merchandise on account, $82000, terms 2/10,...
- Q As Linas father owes $10,000 to CRA, he has asked Lina to provide him with her T2202 tax form from Concordia. Based on Linas tuition tax slip below, how...
- Q The Shoe Exchange issues 4,000 shares of its $1 par value common stock to provide funds for further expansion. The issue price is $18 per share. Required:...
- Q Gregorich Incorporated makes a single product--a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on...
- Q A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at tent $6000 to...
- Q Question 11 mens rea and actus reus are included in most criminal statutes. True False
- Q 4. Jake the owner withdrew P12,000 for personal use. Please make journal entry 5. Paid rent of P120,000 for the month of October to December 2020. Please make...
- Q Purchased a building by paying $50,000 cash and issuing a $450,000 mortgage note payable
- Q Automotive Excellence Inc. borrowed $18,000.00 on June 21 with an interest rate of 8.4% per annum. On July 5,$5500.00 was repaid, and on August...
- Q Journal all transactions: 8/1 YOU filed a charter with the State of Louisiana to form the YOUR Accounting Corporation. The charter authorizes you to issue 5000 shares of $2 par...
- Q Identify the types of adjusting entries and explain the purpose of each type. In detail.
- Q The current controllable margin for Claremont Division is $62900. Its current operating assets are $200000. The division is considering purchasing equipment at the beginning of the year for $60800 that...
- Q 1. A new machine increases fixed cost and may or may not increase ATC as the may decrease. Why
- Q An employee earned $43,700 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $132,900 maximum...
- Q El margen de contribucin por unidad de Fuschia Company es de $15. Los costos fijos totales son $93,000. Cul es el punto de equilibrio de Fuschia en unidades? ...
- Q 2. Your company has hired a new employee. Describe the steps to add this employee to the Employee Center. 5. Your company wishes to have a report that displays the...
- Q Star Corporation of Britain is 100% owned subsidiary of Planet Corporation, a U.S. firm. Stars ending inventory was reported as 10,000 LCU. This inventory was acquired when the exchange rate...
- Q Explain the various accounting issues that arise during the Liquidation process of a partnership business? Used suitable examples.
- Q In 1975, Denny received stock worth $50,000 from his uncle. The uncle purchased the stock for $2,000 in 1955 and paid $15,000 of gift tax on the transfer. Denny's basis...
- Q Green Corporation has negative current earnings and profits of ($100,000) and positive accumulated earnings and profits of $250,000. A $50,000 distribution from Green to its sole shareholder will be treated...
- Q classmate Date Page 010912-26) -0.005 e. find the prob that a life now aged 30 eract will die between the ages 55 & 65 both exact
- Q 0 Required information [The following information applies to the questions displayed below) Ferris Company began January with 9,000 units of its principal product....
- Q Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Leave no cells blank...
- Q Alen Creol Pier Corporation has an income of $3.000 and alsof 400.000. The required to...
- Q QUESTION 4 A. The limitations of the Traditional Costing System is believed to have been resolved by the introduction of Activity Bases...
- Q Aurora Hunter is a business owner who has experienced success on a global scale. On January 1,2020, Aurora started her business, The Modelling and Acting, where she...
- Q Using the information presented below, prepare an income statement, statement of owners equity and balance sheet from the adjusted trial balance of Hanson Storage. Beginning Capital...
- Q Exercise 12-14 Presented below is net asset information related to the Kingbird Division of Santana, Inc. KINGBIRD DIVISION NET ASSETS AS OF DECEMBER 31, 2017 (IN MILLIONS) Cash $73 Accounts...
- Q Looking for help with this question! Thank you! On January 1, Year 7, the Vine Company purchased 60,000 of the 80,000 ordinary shares of the Devine Company for...
- Q oanne Quick made an investment of $17,645.42. From this investment, she will receive $1,700 annually for the next 15 years starting one year from now. Click here to view the...
- Q Required information [The following information applies to the questions displayed below.] Archer Company is a wholesaler of custom-built air-conditioning units for commercial buildings. It gathered the following monthly...
- Q A business segment reports segment revenues of $1.2 million, segment costs of $1.0 million, and allocated corporate overhead costs of $300,000. If management were to drop the segment, overall corporate...
- Q Which of the following is not considered a dimension of service quality? Responsiveness Competence Access Special features Courtesy
- Q JKJ issued $100,000, 5-year bonds at a premium. Prior to maturity, when the bonds' amortized cost is $104,000, the company redeems the bonds at 101. What will the journal entry...
- Q Logic Company did not own any debt or equity investments at January 1, 2022. During 2022, Logic purchased 17,300 shares of Irrational, Inc. for $32.35 per share as a passive...
- Q What is involved in preparing and reconciling employee group certificate amounts from salary records? Be sure to include an explanation on the end of payroll year checks and processes.
- Q You have just been elected to the House of Representatives and want to make changes to the federal tax law. Which specific changes would you put into your bill and...
- Q List and briefly describe 5 examples of how management accounting information could assist in managing resources at a Banking corporation.
- Q Compute the (i) net present value and (ii) internal rate of return of the following capital budgeting projects. The firms required rate of return is 12 percent. Projects Year Zeta...
- Q sold merchandise for cash ,120, 000 the cost of merchandise sold was 95,000
- Q Casey earns $120,000 in net employment income and her employer has withheld the maximum CPP and EI amounts. She is married to Mary-Ann who earned income of $3,300 in 2019....
- Q Edson Corp. signed a three-month, zero-interest-bearing note on November 1, 2011 for the purchase of $150,000 of inventory. The face value of the note was $152,205. Edson used a Discount...
- Q A company purchases 800 shares of its $50 par value common stock at $55 per share. It then reissues 120 shares at $58 per share. The entry upon reissue of...
- Q Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the...
- Q For purposes of the AMT, the standard deduction, but not the personal and dependency exemptions, is allowed. Group of answer choices True False
- Q Question 20 Facebook can remove a post, without violating the right to "Freedom of Speech". True False
- Q XYZ Company began operations in January, 2017, by issuing 7,500 shares of 9%, cumulative, $65 par value preferred stock and 16,000 shares of $5 par value common stock. XYZ Company...
- Q Could someone expalin what is the impact to shareholders if the information is not aligned to gaap?
- Q Yummy Foods expects to have 39,000 pounds of raw materials inventory on hand on March 31, the end of the current year. The company budgets the following production (in units)...
- Q Dawson, inc Had regular tax due of $35,000 for tax year ending December 31, 2018. It also had $60,000.00 of AMT credit carried forward from prior years and available in...
- Q Accompanying this problem is a spreadsheet called Excel problem set 1 - renewables The first columns A through G are identical to the spreadsheet we have been using...
- Q The Smith Company had a beginning finished goods inventory of 6,000 units and an ending finished goods inventory of 6,500 units. Operating income computed by the absorption costing method was...
- Q how do figure the purchases for inventory when i have a beginning inventory of 2,750,000 and a ending inventory of 3,030,000 with a cost of goods sold of 2,300,000 what...
- Q Arkansas Company is preparing its statement of cash flows using the indirect method. Refer to the following information: 1. Repayments on Longminusterm Notes Payable $ 59 comma 000 2. New...
- Q Routine Consultation (Retainer). The rate of retainers fee to be charged by the consulting electronics engineer for routine or ordinary consultation will not be less than P_____ a month. However,...
- Q Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,522,610 $1,494,610 Machine Hours...
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!