Accounting question and answers for September 08, 2023
- Q Purpose: analyze the fundatmental controls over property., plant and equipment. 1. In discusison, provide the company's objectives for establishing internal controls over property, plant and equipment. 2. Identify at least...
- Q Michael inherited 250 shares of QRS staff and his father passed away on September 7th 2021. The stock had a fair market value. Of $34000 on the date of death....
- Q Give ten examples of international business organizations?
- Q A company buys a piece of equipment for $68,000. The equipment has a useful life of five years. No residual value is expected at the end of the useful life....
- Q compamy shows the following balances end of the yearcash. 4000- supplies 7000- accts payable 4000- notes payable 7000- owners capital 3000- owners drawing 2000- revenues 32,000- expenses 25,000.00 ...
- Q Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials...
- Q Paragraph Styles 4. Discuss the U.S. new corporate tax policy (2017) and its effects on the U.S. MNCs' operations (0.5 point)
- Q Sales discounts are only used in a perpetual inventory system. Select one: True False
- Q Corporation Ysold 25,000 units of product last year. The contribution margin per unit was $2. and fixed expenses totaled 540,000 for the year. This year fixed...
- Q Which of the following capital budgeting methods uses accrual accounting information
- Q Nickel Inc. bought $100,000 of 3-year, 6% bonds as an investment on December 31, 2015 for $106,000. Nickel uses straight-line amortization. On May 1, 2016, $20,000...
- Q determine the amount of revenue to record at the time of making a cash sale of $9220 worth of merchandise lsubject to 13% HST
- Q Define and Discuss the Accounting Treatment for Contingent Liabilities
- Q Vandel Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 2,100 units are planned to be sold in April. The variable selling and...
- Q Identify three types of audit evidence. For each type of evidence, provide an example of how it might support one of the three major audit procedures (risk assessment procedures, tests...
- Q From the description above "Louie would like to have sole responsibility to take care of his finances and medical decisions until he is incapacitated." It seems like a Springing...
- Q (2) Billy Bob has $5,000 and needs $10,000 ten years from today, what interest rate per year, compound yearly, does he need
- Q Kennel Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,500 units in process that were 100 percent...
- Q During 2017, Anna (age 12) received $2,400 corporate bond interest. She also received $600 interest from a savings account established for her by her parents. Anna lives with her parents...
- Q How much was Target Corporations long-term debt at February 1, 2020? Compute Target Corporations debt to equity ratio at February 1, 2020. How does it compare to Kohls Corporations...
- Q 1-33A (Algo) Interrelationships among financial statements LO 1-5, 1-7, 1-8 [The following information applies to the questions displayed below.] Pratt Corporation started the Year 2 accounting period with total assets...
- Q 16. Discuss the various methods of calculating tax structures
- Q with most ARMs, the interest rate over the life time of the loan can increase to any level\ increase only up to the pre_stated maximum?
- Q Objectivity is considered to be a problematic ideal in journalism because Select one: a journalists are subjective beings b. journalism is a process of selection demanding...
- Q If you are able to earn a 15% rate of return, what amount would you need to invest to have 6500 one year from now? 1) 6435.65 2) 5687.5 3)...
- Q What does the term functional currency mean? How is the functional currency determined under IFRS and under U.S. GAAP?
- Q no explanation req answer req as soon as possible Hornesby Corporation reported the following amounts on its...
- Q Marios Pizza Palace Practice Set Part 1 The schedule of Accounts receivable, Accounts payable and trial balance for Mario's Pizza Palace are...
- Q Write two features of preference share capital B I U TE
- Q You have a client who wants to claim a deduction or loss that may be questioned by the Internal Revenue Service (IRS). Explain two specific deductions or losses that...
- Q a) Describe the process of how could you investigate the potential fraud and the appropriate steps to complete the process. b) What documents might you need? Who might you need...
- Q Lee Furniture Company manufactures office chairs. The 2020 operating budget is based on sales of 50,000 units at $65 per chair. Budgeted variable costs are $40 per unit, fixed costs...
- Q Non-store Retailing Methods Non-store retailing involves the selling of goods and services outside the limitations of a retail facility. This activity is important because it is...
- Q Future Value Computation Stan Smith deposited $5,000 in a savings account today. The deposit will earn interest at the rate of eight percent. How much will be available for Stan...
- Q > QUESTKINTO 25 The fotowing Infomation was extracted from the accounting records of Moded for the Mnancial rended 30 Ane 2020, Extract hom:...
- Q Which of these statements is correcect
- Q On July 1, 2022, an airline company received an amount of SAR 100,000 for international flights that will take off on December 30, 2022. Required: Prepare journal entries...
- Q on January 1 year 1 Malik had a basis in his partnership interest of 30,000 malik has a one-third interest and materiality participants in the partnership business. In year 1...
- Q On January 1, 2017, Shields Inc issued $1,000,000 of 9%, 20 year bonds for $1,098,964, yielding a market (yield) rate of 8%. Semiannual interest is payable on June 30 and...
- Q Is the concept of a "balanced scorecard" a good or bad idea for performance evaluation? Explain.
- Q The following is the year ended data for Tiger Company: What is the operating income? A. $30,100 B. $6,500 C. $25,100 D. $27,900
- Q The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.10 per share on January 1, 2014. The remaining 20 percent of Devines shares...
- Q What balance do the following accounts normally show Accounts Payable account Sales Returns account Prepaid expenses account Interest income account Accounts Receivable account Bank Loan account Inventory account
- Q Using the accounting standards codification Identifying a contract can be found in the following code section (use this format) XXX-XX-XX-X
- Q The variance of a stock portfolio depends on the variances of each individual stock in the portfolio and also the covariances among the stocks in the portfolio. If you have...
- Q Please answer my question. I really don't know how to do it. Thank you very much. I hope u guys can help me . :( Great Textile Bhd is a...
- Q Use the information below to answer the following two items: ABC Co. granted 1,000 stock options to its CEO on January 1, 2020....
- Q need help solving 2 a) b) and c) using the following incormation below extra information in case needed below ...
- Q Question 18 options: At the end of the year, Merton Company's accounting records showed that they had 125 items in stock at a FIFO cost of $5 each. These normally...
- Q Complex Discovery and Data Management In a 1500-word assignment, discuss the importance of the expert witness in discovery. What are the criteria governing the qualification of such witnesses, and describe...
- Q The following information has been retrieved from Company PPPs equity accounts for 20x1 Opening balance of share capital: R81 000 Berrysing balance of share capital: R172 000 ...
- Q Bell Company, a manufacturer of audio systems, started its production in October 2017. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey...
- Q CP13-2 Analyzing Comparative Financial Statements Using Selected Ratios [LO 13-4, LO 13-5] The comparative financial statements prepared at December 31 for Golden Corporation showed the following...
- Q Adjusting for Negative Equity Phillip Morris reported the following information in its 2018 Form 10-K. $ millions Dec. 31,2018 Dec. 31,2017 ...
- Q Which of the following budgets is NOT needed before preparing the cost of goods sold budget? A. Direct Materials Usage Budget ...
- Q Company issues $1,000,000 face bonds, 5% coupon rate, 10 years term. Issues on March 1, 2013, interest pay on Sep 1, and Mar 1. Market rate is 4% and 6%....
- Q All companies Issue preference share capital True False
- Q Don Pedro has not kept accurate accounting records during the financial year. He had opening inventory of $6,700. Additional goods were purchased during the year. At the year end he...
- Q had a debit balance of $1,300 before adjustment. After adjusting for bad debt expense, what is the ending balance of the allowance account? Multiple Choice $10,600 $39,640 $40,940...
- Q Intercoastal's president, Davies-Lowry, has indicated that the firm should invest $105,000 in an automated inventory- handling system to control the movement of inventory in the firm's...
- Q Walker Company prepares monthly budgets. The current budget plans for a September ending inventory of 30,000 units. Company policy is to end each month with merchandise...
- Q QUESTION 21 To complete the first setup on a new machine took an employee 100 minutes. Using an 80% cumulative average-time learning curve indicates that the second setup...
- Q Viewpoint Companys October 31 inventory was destroyed by fire. The companys beginning inventory was $500,000, and purchases for January through October were $1,200,000. Sales for the same period were $1,800,000....
- Q rural tech support made $130,000 for agroup purchase of land, building and equiptment. At the time of the acquisition, the land had a market value of $70,000, the building $56,000...
- Q when using the internal rate of return method to evaluate capital spending with borrowed funds, the internal rate should be
- Q Metro Graphic Design purchased equipment on January 1, 2016, for $18,000. Suppose Metro Graphic Design sold the equipment for $13,000 on December 31, 2018. Accumulated Depreciation as of December 31,...
- Q Perez Manufacturing Company was started on January 1, Year 1, when it acquired $82,000 cash by issuing common stock. Perez immediately purchased office furniture and...
- Q Personal Earnings. Gerald is a sales representative for Wirksworth Corp. In the month of August, he closed $1,020,000.00 of sale, what is his gross earning if he is paid 2.50%...
- Q all are 1 question with parts TERRY'S AUTO SHOP Balance Sheet As of December 31, Year 2 \begin{tabular}{|l|l|l|}...
- Q Which of the following allowance methods generally is NOT acceptable for use when a company follows international financial reporting standards? a. percent-of-sales method b. aging-of-accounts-receivable method c. percent-of-accounts-receivable method d....
- Q Comment on how is financial reporting regulation likely to change in the future with advancement in technologies in accounting.
- Q 1)What is GAAP? 2) Explain the difference between current vs long-term asset/liability. 3) What is a T-account? give some examples of T-account. 4) What is the normal balance for an...
- Q total payroll of raleigh rays co. was $920,000, of which $160,000 represented amounts paid in excess of $100,000 to certain employees. the amount paid to employees in excess of $7,000...
- Q Note: Enter your answer in thousands
- Q Southward Manufacturing is considering the purchase of a new welding system. The cash benefits will be $400,000 per year. The system costs $2,250,000 and will last 10 years. Compute the...
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