Accounting question and answers for October 24, 2023
- Q Determine the economic order quantity (EOQ) for spares inventory replenishment when the cost per unit is $100; the cost of preparing for a shipment and sending a truck to the...
- Q Archie opended his business in March. Due to circumstances beyond his control, it closed in September. What month of this short tax year will serve as the midpoint...
- Q QUESTION 1 (25 Marks) \table[[BLUE BEN (Pty) Ltd,,],[PRE-ADJUSTMENT TRIAL BALANCE AS AT 31 DECEMBER 2022,,],[,,600000,00],[Balance Accounts Section,,232000,00],[Ordinary Share Capital,891600,00,],[Retained Income,170000,00,],[Land and Buildings,60000,00,],[Vehicles @ Cost,,28000,00],[Equipment...
- Q The maturity value of a $561000, 239-day, 11.4% note receivable is (two decimals):
- Q During its first year of operations, Silverman Company paid $11,360 for direct materials and $11,100 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,100...
- Q Oliver owns Wifit, an unincorporated sports store. Wifit earned $100,000 before Oliver drew out a salary of $60,000. What is Oliver's deduction for self-employment taxes? Group of answer choices A....
- Q Ray is starting a new business with a friend and trying to decide between a C corporation, S corporation, and partnership. Which of the following statements regarding his decision is...
- Q Jiffy Lube oil and Danterra Beauty/Spa Salon are both service provider organizations, do a "Comparison/Contrast" for job order cost (i.eg, direct material, direct labor and overhead cost, etc.) Please be...
- Q Edgeworth Box Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and vegetables. The canned food box (type C) and the perishable...
- Q what is the order to cash cycle in SAP?
- Q A. Ensure that a policy for sales cutoff timing is documented and approved B. Create programming that calculates sales discounts C. Use standard sales...
- Q Northern corporations reported the following financial statement:(click the icon to view the financial statements) Horizontal analysis of northerns balance sheet for 2019 would report
- Q In 2018, Bevins Company decided to change from LIFO to FIFO due to better representation of the flow of inventory and costs. Bevins started the business in 2016. Bevins tax...
- Q Sheridan Company issued 6%, 8-year, $230,000 par value bonds that pay interest annually on April 1. The bonds are dated April 1, 2022, and are issued on that date. The...
- Q What are the considerations related to when the planned results of internal control testing do not meet the audit objectives and it is necessary to consider other alternatives?
- Q A purchase of supplies on account was recorded as a debit to supplies and a credit to cash. What is the correcting journal entry?
- Q Question 18 RICO is a powerful weapon in the war against organized crime. True False
- Q b. Sales are 20% for cash and 80% on account. c. Sales on account are collected over a three-month period in the following...
- Q La relacin actual de Marcy Corporation es actualmente de 1,75 a 1. La relacin actual de la empresa no puede caer por debajo de 1,5 a 1 sin violar los...
- Q 6. Compre the following alternatives using the Net Equivalent Uniform Annual Worth method. Alt. Construction cost $ Life (yrs) A $30million 40 B $35million Infinite
- Q What is the amount of income from unknown sources in Year 2 and in Year 3
- Q The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.30 per share on January 1, 2017. The remaining 20 percent of Devines shares...
- Q How much will $4,500 Invested at the end of each year grow to in four years, assuming an interest rate of 12% compounded annually? Note:...
- Q Section 162 provides the general rule that expenses incurred in a trade or business are deductible. Reg. $1.162-5 elaborates on the deductibility of A.Travel expenses. B.Expenses of farmers....
- Q The following data pertain to Colgate Palmolive's liquid filling line during the first 10 months of a particular year. The standard ratio of direct-labor hours to...
- Q Lander Company has an opportunity to pursue a capital budgeting project with a five-year time horizon. After careful study, Lander estimated the following costs and revenues for the project: Cost...
- Q On July 10, Yao Co. collects $740 from Ean, Inc. from a prior credit sale. This entry would be recorded by Yao with a: (Check all that apply.) Multiple select...
- Q Please Solve E14-5 using the information from E14-4. thanks
- Q During the current year girl equipment stores Harneet sales of 480 million cost of good sold. 304 million average account receivable of 58 million average inventory of 38 million. What...
- Q An invoice for $3,868, dated June 26 , had terms 2//10,1//20,n//45. 1 points eBook Print a. What amount w Amount credited b. What amount was credited for a payment...
- Q Current Attempt in Progress - Your answer is partially correct. Pina Colada Corporation makes two products, footballs and baseballs. Additional information follows: Assume...
- Q PLEASE SHOW FORMULAS IN EXCEL ************ Required: You need to prepare a comprehensive 6-month budget, including supporting schedules and a report for the period January 1, 2010 to June...
- Q Miller Company purchased treasury stock with a cost of $15,000 during the current year. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of...
- Q STATEMENT OF FINANCIAL POSITION Ike and Rhonda Sumrall Balance Sheet As of December 31 last year ASSETS LIABILITIES & NET...
- Q purchased 60,000 of direct materials, used 62,000 in production and had an ending inventory of 1,000, what was Levy's beginning inventory of direct materials?
- Q (b) Define the tragedy of the commons in your own words. (c) Why are fish in the ocean an example of a resource that suffers from the tragedy...
- Q After the accounts are closed on February 3, 2016, prior to liquidating the partnership, the capital accounts of William Gerloff, Joshua Chu, and Courtney Jewett are $19,680, $4,960, and $21,840,...
- Q EasyCredit Financial is a banking services company that offers many different types of chequing accounts. It has recently adopted an activity-based costing (ABC) system to assign costs to various types...
- Q Dave Krug finances a new automobile by paying $6,900 cash and agreeing to make 40 monthly payments of $510 each, the first payment to be made one month after the...
- Q A guy needs to have an audited financial statement for his business in order to get a contract with a city. He finds a shady CPA who is offer disclaimer...
- Q Please Explain With Explanation Franklin, Incorporated sells fireworks. The company's marketing director developed the following cost of goods sold budget for...
- Q The book explains that there are several methods to understand and document internal control such as questionnaires, flowcharts, and narratives. When should each of these methods...
- Q Complete the following: Invoice Date April 27 goods are received, Terms 3/10 EOM, Last day of discount period? Final day bill is due (end of credit period)?
- Q Zhao Co. has fixed costs of $403,200. Its single product sells for $183 per unit, and variable costs are $120 per unit. If the company expects sales of 10,000 units,...
- Q Nuthatch began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and N sa...
- Q 25. Which of the following products is least likely to be produced in a system? a) Compact disks b) Slacks for casual wear c)...
- Q Segment variable costing income statement and effect on income of change in operations Instructions Labels and Amount Descriptions Variable Costing Income Statement - Proposal 1 Additional Question - Proposal 2...
- Q 6.In year 1, Peter and Shaline Johnsen moved into a home in a new subdivision. Theirs was one of the first homes in the subdivision. In year 1, they paid...
- Q When setting up a merchandising company, where do you enter beginning quantities of merchandise on hand? 1. general ledger 2. items and services, inventory Part, Inventory on hand 3. items...
- Q Think about where you hope to be in your life five years from now (that is your main goal). What is your competitive advantage in achieving your goal? What...
- Q April 16 Purchased 5,500 shares of JCW Company stock at $30 per share. July 7 Purchased 4,000 shares of...
- Q 1-b. For each transaction, record the adjusting entry on December 31,2023. Journal entry worksheet Record annual depreciation on equipment. Note: Enter debits before credits. For...
- Q Expenditures After Acquistion Roanoke Manufacturing placed a robotic arm on a large assembly machine on January 1. At that time, the assembly machine...
- Q Use the following information to answer the next four questions. ABC, Inc, had 300 units in beginning inventory on...
- Q Control activities fall into five categories with specific control activities in each category. Explain which specific control activity you feel is the most critical in preventing fraudulent activities. ...
- Q Exercise 15-1 During its first year of operations, Collin Raye Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued...
- Q Two contractors submitted the following cost estimates for a proposed bridge: Bridge A Bridge B First Cost P20M P27M Life 20 years 30 years Salvage Value P500,000 P750,000...
- Q While performing your audit of Williams Paper Company, you discover evidence that indicates that Williams may not have the ability to continue as a going concern. a. Discuss types of...
- Q Delph Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of...
- Q CALCULATOR Exercise 227 On December 31, 2021, when ts Allowance for Doubtful Accounts had a credit balance of $1,700, Marigold Corp. estimates that 7% of its...
- Q Question 14 The Commerce Clause gives congress the power to regulate interstate businesses. True False
- Q How is depreciation on the manufacturing building and equipment classified in financial reporting? Select one: A. As a period cost B. As part of the cost of the products produced...
- Q Begin by completing the cash flows from operating activities. Then complete the remaining sections of the cash flow statement. (Use parentheses or a minus sign for numbers to...
- Q Required information [The following information applies to the questions displayed below.) Park Co. is considering an investment that requires immediate payment of $26,945 and provides expected cash inflows...
- Q The sale of land for cash of $120,000 and the purchase of equipment for $40,000 equals $80,000 net cash provided by investing activities. The issuance of bonds for $130,000 is...
- Q 1. Develop an estimated duration for each activity. Below is a table showing...
- Q Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $17,000 cash in the business in exchange...
- Q Which of the following securities is NOT exempt from the registration procedures of the Uniform Securities Act? A) Variable annuities issued by an insurance company authorized to do business in...
- Q a. Compute the ratios listed above for Artz. b. Compared to the industry: (1) How liquid is the firm? (2) Are its managers generating attractive operating profit on...
- Q Exact Photo Service purchased a new color printer at the beginning of Year 1 for $36,640. The printer is expected to have a four-year useful life and a...
- Q Snowbird Company is constructing a building that qualifies for interest capitalization. It is built between January 1 and December 31, 2020. Snowbird made the following expenditures: April 1, $396,000; July...
- Q Issue Date Jan 1 2020 Maturity Date Jan 1 2024 Par 50000 Stated interest rate 12% annual Interest paid 6% semiannual Market interest rate 10% Create Journal Entries
- Q thompson owns 100% of Rollins and at 12/31/2012. its investment in Rollins account stands at 10000000. on that date thompson sells 20% of its ownership for2500000 cash prepare the j/e...
- Q Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set...
- Q Owner Shan Lo is considering franchising her Noodles by Lo restaurant concept. She believes people will pay $5.00 for a large bowl of noodles. Variable costs are $2.00 per bowl....
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