Accounting question and answers for October 27, 2023
- Q Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units...
- Q Si una cuenta tiene un saldo deudor de $710 en la seccin Saldo de prueba de una hoja de trabajo y hay un crdito de $220 en la seccin Ajustes,...
- Q Question 3 (5 Marks) A fishing licence was purchased by Thandeka (Pty) Ltd, and the directors of the company are determined to recognise the licence as a physical asset as...
- Q A company prepares the master budget by taking each division manager's estimate of revenues and costs for the coming period and entering the data into the budget without adjustment. At...
- Q D&R Corp. has annual revenues of $266,000, an average contribution margin ratio of 32%, and fixed expenses of $114,500. If 19,700 units of the new product could be sold at...
- Q 5. On January 2, 2016, Concrete Master Construction, Inc. issued $500,000, 10-year bonds for $574,540. The bonds pay interest on June 30 and December 31. The face rate is 8%...
- Q Describe the process of accounting for partial-year depreciation.
- Q 1.How are partners in a partnership taxed on their distributive share of the partnership's income? 1a.How does this distribution impact their basis in their partnership interest? 1b. How are distributions...
- Q As the company bookkeeper reviewing delinquent accounts receivable, you find that a relative of yours has not paid his account amounting to $550. You know that he has been experiencing...
- Q E12-7 (Algo) Preparacin y Evaluacin de un Estado de Flujo de Efectivo Simple (Mtodo Indirecto) [LO 12-1, LO 12-2, LO 12-5] Suponga que el estado de resultados de Goggle...
- Q 1. 810.000$'a arsa ve depo alnd. Bir deerlendirme arazi iin tahmini deerlerin 500.000 $ ve depo iin 800.000 $ olduunu gsteriyorsa, arazi ve depo iin muhasebe kaytlarna hangi tutarlar kaydedilmelidir?...
- Q 1. Just Ice Co. sales total 638,400, variable costs are 65% off sales, and the fixed costs are $250,000, the contribution margin ratio at breakeven is: A)414,960 B)none of the...
- Q The amounts of the assets and liabilities of Excalibur Travel Agency at December 31, 20Y5, the end of the year, and its revenue and expenses for the year follow. The...
- Q The Rosa model of Mohave Corp. is currently manufactured as a very plain umbrella with no decoration. The company is considering changing this product to a much more decorative model...
- Q 6. Quark Spy Equipment manufactures espionage equipment. Quark uses a job-order costing system and applies overhead to jobs on the basis of direct labor-hours. For the...
- Q Description of the system requirements for accounting software in transportation industry. (300-500words) no handwriting
- Q Describe the steps to follow when using the allowance method to account for uncollectable accounts.
- Q Write
- Q 1) (i) What are the assumptions of a perfectly competitive market? [20 marks] (ii) Contrast it with that of a monopoly. [20 marks] Address the points provided below where applicable:...
- Q Property, plant, and equipment and intangible assets are: (A)Created by the normal operation of the business and include accounts receivable. (B)All assets except cash and cash equivalents. (C)Current and long-term...
- Q The total contribution margin for the month under variable costing is
- Q Many organizations have a code of conduct or code of ethics. Accountants have their own Codes of Professional Conduct that are listed on the AICPA's website. All CPAs are required...
- Q Identify attributes, primary keys, and foreign keys for the following: Menu Items: Orders: Car Hops: Cooked Meal: Payment Made Customers:
- Q Question 22: Which of the following is a true statement regarding the W-2 Form? Answer: A. Employers must submit the W-2 Form regardless of the amount...
- Q How should the acquiring company account for an investment in 25% of the common shares of another company? Select answer from the options below by using consolidation by...
- Q Problem 11-25 (Algo) Basic Transfer Pricing [LO11-3] Alpha and Beta are divisions within the same compary. The managers of both divislons...
- Q The self-employment tax is Fully deductible as an itemized deduction. Partially deductible from gross income in arriving at adjusted gross income. Not deductible....
- Q 1. Inventory adjustments 2. Audit opinion on inventory ACT444 - Course Project Exhibits - Deliverable \#1 \#1 - Letter from the Controller From: [email protected] To: [email protected] Date: January 11...
- Q Balloons By Sunset (BBS) is considering the purchase of two new hot air balloons so that it can expand its desert sunset tours. Various information about the proposed investment...
- Q Spa-tacular has the following chart of accounts:
- Q Cash Flows from Operating Activities-Indirect Method Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp. for a recent year are as follows
- Q What financial statements are prepared for agency funds and for trust funds?
- Q Calculate the NPV under each scenario. (Round the final answers to 2 decimal places. Negative amounts should be indicated by a minus sign. Omit $ sign in your...
- Q you have been hired as new assistant financial controller for autobody corp, an autobody repair shop. set up appropriate t accounts and trial balances
- Q Leslie and Jason, who are married filing jointly, paid the following expenses during 2022: Required: What is the maximum amount that they can use in calculating itemized deductions for...
- Q The carrying value of $60,000 face value bonds at the end of the third year is $61,116. The stated rate is 6%; the effective rate is 5%. On September 1,...
- Q In 2011, BB granted an incentive stock option (ISO) to Mr. Yarnell to buy 5,000 shares of BB stock at $8.80 per share for 10 years. At date of...
- Q Discuss the key requirements relating to the preparation of activity statement for each of the following: Tax Agent Service ACT (TASA), including Code of Professional Conduct...
- Q The following information was drawn from the accounting records of Comcat Company. Based on this information, the company's book value per share is
- Q 1. (actual hours worked-standard hours allowed) x standard rate per hour produce you product. materials usage variance ...
- Q Sunland Company purchased a delivery truck for $36,000 on January 1,2022. The truck has an expected salvage value of $6,000,...
- Q Write an analytical summary of your learning outcomes from chapters 9 and 10. In addition to your analytical summary, address the following: 1. As a manager, discuss how you would...
- Q En Restin Company, los costos de mantenimiento son un costo mixto. En el nivel bajo de actividad (160 horas de mano de obra directa), los costos de mantenimiento son de...
- Q Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses the...
- Q TB MC Qu.10-111(Algo) A company issued... A company issued 5-year, 7% bonds with a par value of $1,000,000. The market rate when the bonds were...
- Q On January 1, 2022, Pharoah Company issued $305,500, 6%, 5-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of...
- Q If the market interest rate is 5% of 10,006%, 10 year bond that pays interest annually with cell at what amount
- Q A check payment for $856 was incorrectly entered in the Cash account as $658 . Which of the following adjustments needs to be made? decrease the bank statement balance decrease...
- Q For the week ended June 30, 1995, Free Co. paid gross wages of $20,000, from which federal income taxes of $2,500 and FICA were withheld. All wages paid were...
- Q Q5 What do you understand by Activity Based Costing? Explain the process used to assign costs in an ABC system (Ch 7 Marks 4) please note that this question...
- Q Depreciation on an asset such as equipment is an example of a(n): A) Sunk cost B) Opportunity cost C) Differential cost D) Future cost
- Q Alexa owns a Coffee Shop. The following information is from her accountant: Expenses: Advertising $45.00 Coffee, cups, sweetener, flour, etc. $8.02 per cup of coffee and a muffin Monthly rental...
- Q The general ledger account that summarizes the subsidiary ledger data is called the A. contra account B. control...
- Q Jane Co. issues corporate bonds. The price of their corporate bond is the (PV) present value of its face amount at the market, or sometimes called the "effective" rate of...
- Q Financial Reporting Problem: Apple Inc. CT10.1 The financial statements of Apple Inc. are...
- Q You have each been assigned a sector of the economy to develop a sector based mutual fund. 1. What is your sector, and do you expect your sector to outperform...
- Q Smith Company purchases land, a building and equipment for $200,000. The fair values of the assets are as follows: Land: $50,000 Building: $150,000 Equipment: $50,000 Prepare the entry for the...
- Q The General Journal is used to input booking transactions that do not obviously fit into onr of the other modules. O True False
- Q which image is not clear? ...
- Q help plz and thank you Hypothetical comparative condensed balance sheets of Nike, Inc. are presented here. Prepare a horizontal analysis of the balance...
- Q The journal entry to record the payroll for fox gardening her company for the week ending January 8 will probably include a
- Q During the year, Bears Inc. recorded credit sales of $670,000. Before adjustments at year-end, Bears has accounts receivable of $380,000, of which $52,000 is past due, and...
- Q Bramble Industries has the following account balances: Assume an income tax rate of 23%. What is the amount of income tax expense to be reported...
- Q Cara Loren and Cami formed t o n c a journal partnership as equal Partners Tara's contribute fifty five thousand cash contribute 25 thousand cash and property with a adjusted...
- Q (a) Planning is an essential part of the audit. Identify and explain FIVE reasons why audit planning is necessary. (b) Define analytical procedures and explain how they should be used...
- Q Payments of $3,200, due 60 days ago, and $3,700, due in 50 days, are to be replaced by payments of $3,600 due today and the balance due in 40 days....
- Q Originating deferred taxes are recorded at the marginal tax rate in effect for the year the items originate. the statutory rate in effect for the year of reversal....
- Q
- Q Cash Flow Statement A Statement of Cash Flows explains how changes in balance sheet accounts and income statement accounts cause the change in cash from the beginning of the period...
- Q Consultex, Inc. was founded in 2012 as a small financial consulting business. The company had done reasonably well in 2012-2014 but started noticing its cash dwindle earny in 2015....
- Q Opportunity costs are Opportunity costs are: Multiple Choice eBook included in inventory. foregone benefits. sunk costs. included in cost of goods sold
- Q Todas las siguientes afirmaciones con respecto a los dividendos en acciones son verdaderas , excepto : Los directores pueden utilizar los dividendos en acciones...
- Q Which of the following is usually not in accrued liability
- Q In what section of the stockholders' equity portion of the balance sheet can preferred stock, common stock, and additional paid-in capital be found? Select one: A. Earned capital ...
- Q Flint Inc uses 81 kilograms of material Xper year. Material Xcosts $35.00 per kilogram. It costs $1.90 to place an order and $3.80 per kilogram to store...
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