Accounting question and answers for September 01, 2023
- Q 4 I (e) Forms of Tenancy Fee
- Q How many two-input AND and OR gates ?are required to realize Y = CD+EF+GD "2,2" 00002 "3,3" "2,3" "2,3
- Q Free-response question E is based on the following information: ABC Manufacturess Inc. is approached by a customer about fulfilling a calculated the following cost per unit capacity to...
- Q Nelson's company reported costs of goods sold in the sum of $900,000 in the current year. Nelson also reported accounts payable in the sum of 320,000 in the last year...
- Q Reddy Company has the following cost formulas for overhead: Cost Cost Formula Indirect Materials $2,000 plus $0.40 per machine hour Maintenance $1,500 plus $0.60 per machine hour Machine Setup $0.30...
- Q Problem 10-16 Comprehensive Variance Analysis [LO10-1, LO10-2, LO10-3] Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a...
- Q On January 1, 2016, Technicians Credit Union issued 7%, 20 year bonds payable with the face value of $100,000. The bonds pay interest semiannually, on June 30 and December 31....
- Q KRJ Corporation reported cost of goods sold of $819 million for the year. Inventory at the beginning of the year was $131 million and at the end of the year...
- Q Print Item Inventory Costing Methods Morrison Inc. reported the following information for the month of August: Inventory, August 1 61 units @ $20 Purchase:...
- Q Name MULTIPLE CHOICE. Choose the one alternative that best completes the . Choose the one alternative that best completes the statement or...
- Q Inventory held to protect a firm against running stock-out due to unpredictable demand is called EOQ On-order inventory Safety stock Order-up-to level
- Q Beta company borrowed 350,000 lekes on January 1, 2020. The deftesa has a 10% interest rate and maturity deadline of 9 months. All interests will be accumulated and paid when...
- Q Farmer and Taylor formed a partnership with capital contributions of $275,000 and $325,000, respectively. Their partnership agreement calls for Farmer to receive a $100,000 per year salary. The remaining income...
- Q The following financial statements apply to Vita division, one of three investment centers operated by Nexis Corporation. Nexis Corporation has a desired rate of return of 15%. Nexis...
- Q Old MathJax webview on this part I need to find a number with my...
- Q During its most recent fiscal year, Raphael Enterprises sold 350,000 electric screwdrivers at a price of $19.50 each. Fixed costs amounted to $1,225,000 and pretax income was $1,575,000. What amount...
- Q In a special-order decision, which of the following costs would normally be irrelevant? A) Packaging costs B) Direct labor C) Variable overhead D) Fixed selling expenses
- Q goods sold cost$4,698,000divided by $3,402,000. whats the gross profit percentage
- Q The appropriate total budget for the department assuming it uses flexible budgeting is
- Q Largo, Inc., which uses a volume-based cost system, produces cat condos, and has a gross profit margin of 50%. Direct materials cost $21 per unit, and...
- Q Discuss the two main distinctions between assets on the balance sheet. Discuss reporting requirements for contingencies. Explain two examples of contingent liabilities
- Q What are the limitations of using predetermined overhead absorption for the determination of the cost of a job? Discuss. (1.5 Marks)
- Q Question 7 The activity that causes changes in the behavior of costs is referred to as the activity O index. O correlation. O multiplier element
- Q A sales invoice included the following information: merchandise price, $12,000; terms 1/10, n/eom, FOB shipping point with prepaid freight of $900 added to the invoice. Assuming that a credit for...
- Q The chief audit executive (CAE) of the internal audit activity serves as the organizations chief ethics officer. A drawback of performing this function is that A. An ethical culture...
- Q What is corporate governance? Explain the key principles?
- Q s. In the first stage, two Order Filling, and Other--besed on resource...
- Q On October 2, 2018, Brian acquired and placed in service 5-year property costing $50,000. He did not claim any election to expense or bonus depreciation. Compute the amount of his...
- Q According to the capital asset pricing model (CAPM), fairly priced securities should have A. A fair return based on the level of unsystematic risk. B. A beta of...
- Q If bonds are issued at 103, this means that: A) A $1,000 bond sold for $103 B) The bonds sold at a discount C) A $1,000 bond sold for...
- Q Baylee Co. issued $120,000 of 5%, 10-year bonds payable on Jan. 1, 2017 at par (face) value . a. Journalize the issuance of the bonds b. Journalize the first semi-annual...
- Q The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is $233,920. The conversion cost for the period in the Filling Department is $290,080. The total...
- Q forecasting is what type of analytic technique
- Q How determine the selling price of a small business if income statement summary, net cash flow summary and balance sheet summary of last five years is given
- Q 1. Which funds are included in Government Wide Statements? 2. Which are the columns reported on Government Wide Statements?
- Q Kesha operates a small restaurant what are the steps to set a ABC inventory system a. monthly usage
- Q Required Identify which of the following items are added to or subtracted from the unadjusted book balance to arrive at the true cash balance. Distinguish the additions from the subtractions...
- Q Explain what is meant by the yield curve and briefly outline three theories to explain unequal yields at different maturities and how it is most often sloped. Then briefly explain...
- Q I newill. Company was acquired. Company was acquired 12/31/2019. During the year ending December 31, 2020, there were no transactions involving the stock of Salt Company.
- Q Joint Cost Allocation-Physical Units Method Medieval Blacksmith Co. produces two types of decorative swords, a broadsword and a longsword. The swords are made through a joint...
- Q Exercise 9-14 (Algo) Conventional retail method [LO9-4] Colonial Corporation uses the retail method to value its inventory. The following information is avallable for the year: Required:...
- Q KRJ Corporation reported tax expense of $855 million for the year. Taxes payable at the beginning of the year was $57 million and at the end of the year it...
- Q Keaubie Co. issued $300,000, 8%, 15-year bonds payable at a price of 104, on Jan. 1 a. Journalize the issuance of the bonds b. Journalize the first semi - annual...
- Q Apple recently issued a zero coupon bond. The zero coupon bond has a face value of $1 billion and matures in six years. Assume that when the bonds were sold...
- Q Assume you are an auditor working in a company. If you find a misstatement, then how will you determine whether it is a fraud or an error. List the four...
- Q The NOR gate output will be high if the two inputs are 01 000 00 11 10
- Q During the last week of August, Oneida Companys owner approaches the bank for a $105,000 loan to be made on September 2 and repaid on November 30 with annual interest...
- Q 5. You issue $20,000,000 of 6%, 10 year bonds to yield 6.8%. The bonds pay interest twice per year. What is the issue price? Hello, can you please...
- Q A job order cost system would be appropriate for a crude oil refining business. True False
- Q Gold LLC. wants to outsource supplier payments and have approached your audit firm to process supplier payments, printout cheques and get the cheques authorized and signed by a designated...
- Q A customer pays an invoice with a check. Accounts receivable is updated to reflect the payment. The check is recorded and deposited into the bank. Please prepare a data flow...
- Q pls help
- Q On January 2, Peyroux Company acquired 42% of the outstanding stock of Gruden Company for $552,500. For the year ended December 31, Gruden Company earned income of $135,100 and paid...
- Q 15) If the functional currency of a foreign operation is different than the parent's, functional currency, how are exchange gains and losses to be reported? Multiple Choice a)...
- Q Compute total ending liabilities for a first-year company with the following: 15% ROA paid no dividends ending total assets = $2,000,000 ending common stock = $1,350,000 debt-to-equity ratio = 1:3...
- Q On December 31, Year 1, Kelly Corporation of Toronto paid 14.10 million Libyan dinars (LYD) for 100% of the outstanding common shares of Arkenu Company of Libya. On this date,...
- Q if the taxpayer carries forward an NOL to a tax year after the NOL year, the NOL deduction is listed as a negative figure on
- Q Which of the following is considered a liquidity ratio? a. price-earnings ratio b. times interest earned c. average collection period d. free cash flow e. debt to total assets...
- Q Rouxdy Co. signed a 20 year, 5%, $375,000 mortgage payable for the purchase of a building. a. Journalize the issuance of the mortgage payable b. Journalize the first monthly...
- Q Ceramic Structures has experienced rapid growth over the past several years. Sales are expected to grow at 15% per year for the next three years. Sales growth has been fueled...
- Q The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31,20Y9, the end of the fiscal year, the...
- Q uppose Whole Foods is considering investing in warehouseminusmanagement software that costs $ 300 comma 000, has $ 60 comma 000 residual value and should lead to cash cost savings of...
- Q 5. Accounting for Lease Agreement - Lessee (18 points) Gopher Sales and Service entered into a lease agreement to lease a fleet of five vehicles from Hawkeye Motors....
- Q Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales...
- Q 4. Which one of Marshall's rules suggests why labor demand should be relatively inelastic for public school teachers and nurses? Explain. Shelly's preference for consumption and leisure can...
- Q Which of the following corporate tax levies are imposed on an S corporation? Select one: a. corporate income tax b. corporate alternative minimum tax c.accumulated earnings tax d.None of these...
- Q What classes are the exception to declining balance method of calculating capital cost allowance (CCA)? Multiple Choice a.No exceptions b. Class 14 only c. Class 13 and 14 d. Class...
- Q The adjusted current earnings (ACE) adjustment is 75% of the difference between a corporation's alternative minimum taxable income before the ACE adjustment and its ACE. True OR False?
- Q Solar Storm Inc. began operations on June 30, 2014, and issued 60,000 shares of $1 per common stock on that date. On December 31, 2014, Solar Storm declared and paid...
- Q Stylish Doors, Inc., produces two types of doors, interior and exterior. The company's simple costing system has two direct cost categories (materials and labor) and one indirect cost pool. The...
- Q Make Journal Entries below for the following transactions WATCH THE DATES incl YEAR ...
- Q 12. A business files a Chapter 7 petition. A trustee appointed by the court, may be authorized to A. sell the debtor's properties and hand over the proceeds of the...
- Q A company reported net income of $78,000 and had 15,000 common shares outstanding throughout the current year. At year-end, the price per share of the company's stock was $49.40. What...
- Q (TCO 7) Although the net method is theoretically more sound, most companies use the gross method of accounting for cash discounts related to sales on account. Explain this statement. (Points...
- Q 12. Trotman Company had three intangible assets at the end of 2020 (end of the accounting year): - Computer software and Web development technology purchased on...
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