Accounting question and answers for September 16, 2023
- Q The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 ...
- Q Required information [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old...
- Q What is the difference between the Allowance Method and the Direct Write Off Method for recording bad debts? In terms of accounting principles, why is the Allowance Method superior?
- Q 6.Which of the following should be considered in decision making? a) Specific fixed avoidable cost b)Sunk cost c)Common fixed cost unavoidable
- Q Valley Companys adjusted trial balance on August 31, 2017, its fiscal year-end, follows. Debit Credit ...
- Q Problem 5-4A Adjusting entries and multi-step income statementperpetual LO5 CHECK FIGURES: 2. Profit = $4,855 Information from the unadjusted trial balance of Electric Bike on December 31, 2020, the...
- Q Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine's useful life is...
- Q assertion reason questions of relation and functions
- Q Ryan placed $365,000 in trust with income to Stephen for his life and the remainder to Kayla (or her estate). At the time of the gift, given the prevailing interest...
- Q My last hope, please help: Prepare the consolidated statement of changes in equity for P Ltd for the year ended 31 December 2021. P has two group...
- Q What methods of cost estimation rely primarily on historical data? Discuss the problems an unwary user my encounter with the use of historical cost data.
- Q $18,500 in yea five. What is the NPV using 6% as the disconh rite? NOTE: Enter amounts rounded to two decimas 60.9 .987 .76 or 40.00 . Flag...
- Q Which of these contractual terms would lead a company to account for a lease contract under the capital lease method? (check all that apply) The present value of the lease...
- Q The schedule of cost of goods manufactured is divided into four parts consisting of all of the following except: Direct materials. Computation of cost of goods sold. Overhead. Computation of...
- Q A company's sale in year 1 was 250,000, and in year 2 287,500, using year 1 as the base year, the sales trend percent for year 2 is? A. -15%...
- Q Which one of the following is a measure you would NOT use for evaluating company profitabilty performance? a. Net profit margin ...
- Q Please help.Thank you Please making correction. Bramble Co. decides at the beginning of 2020 to adopt the FIFO method of inventory valuation. Bramble had used the LIFO method...
- Q Alpha filed to record the whole journal entry for a purchase discount of inventory. The purchase had been made on credit using the periodic inventory system. What are the JE?...
- Q Discuss the structure to be utilized in structuring the lease/ purchase of the Beacon Hill Golf Club property giving consideration to a syndication to raise capital for the development of...
- Q Laval produces lighting fixtures. Budgeted information for its two production departments follows. The departments use machine hours (MH) and direct labor hours (DLH). \table[[,Fabricating,Assembly],[Overhead cost,140,000,380,000],[Direct labor,152,000DLH,38,000DLH...
- Q John Carlson Inc. uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. For the year, Higley Inc.'s estimated manufacturing overhead cost was $400,000...
- Q The balance in the retained earnings account reflects the account balance before temporary accounts are closed. In addition the notes payable balance includes notes payable of 20,500 due within the...
- Q Sub: Advanced Federal Taxation Why do you feel that the government allows gains or losses to be deferred in these situations? Situtations: Bob and Betty have a partnership that owns...
- Q Sports Corp has 11.8 million shares of common stock outstanding, 6.8 million shares of preferred stock outstanding, and 2.8 million bonds. If the common shares are selling for $26.8 per...
- Q Los datos de la compala R para el mes de marzo son los siguientes: Se vendieron 8000 unidades. El precio de venta es de $180. Tasa de impuestos...
- Q On December 1, Mogro Corporation had $26,000 of raw materials on hand. During the month, the Corporation purchased an additional $60,000 of raw materials. During December, $62,000 of raw...
- Q
- Q El estado de cambios en el capital contable: A- Forma parte del estado de utilidades retenidas. B-Muestra solo los saldos finales en el capital contable. C-Describe los cambios en las...
- Q Power Company manufactures a variety of drill bits. The company's plant is partially automated. The budget for the year includes $516,000 payroll for 6,200 direct labor-hours. Listed below...
- Q 40. On the maturity date of a $9,000, 6-month, 12% note, the borrower sends a check that includes the principal and all of the...
- Q Wells Technical Institute (WTI)...
- Q Which of the following legal structures separates the owners from personal liability and provides a flexible allocation of profits and losses? A. S corporation B. Partnership C. Limited partnership D....
- Q Which of the following statements is true about lease accounting methods? (check all that apply) Capital leases lead to lower Cash from Operations than Operating leases Capital leases have higher...
- Q s 42-45. Dr. Warren purchased some medical supplies for $670. Sales tax rate was 6.5%. How much did Dr. Warren spend on these supplies
- Q 1. A jub order cost slueet for Michaels company is shown below. Job No. 92 Direct Materials 3,925 6,000 Direct Labor 6,000 For 2,000 Units Manufacturing...
- Q In your own words, what is materiality? What would be the difference in materiality for a company with assets of $2 million and revenue of $6 million versus a company...
- Q Video Planet (VP) sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation by VP staff. The installation includes programming...
- Q 1 of 10 Which of the following numbers of replications of an experiment would make the results most conclusive
- Q When a service company uses a ______________ costs system it generally does not have inventory accounts. Select one: a. invoicing b. controlled c. job order d. purchase order
- Q En el cronograma de costos de bienes manufacturados, el inventario de materias primas del artculo (final) aparece como un (n) 1. Adems de las compras...
- Q P5-4A. Stage Two ABC for Manufacturing Merlot Company has determined its activity cost pools and cost drivers to be the following: Cost Pools Setup$59,500 Materials handling.$16,000 Machine operation.$300,000 ...
- Q Required information [The following information applies to the questions displayed below.] Data for Hermann Corporation are shown below: Selling price Variable expenses Contribution margin Per Unit $ 85...
- Q Boswell Company manufactures two products, Regular and Supreme. Boswells overhead costs consist of machining, $1000000; and assembling, $500000. Information on the two products is: Regular Supreme Direct labor hours 10000...
- Q For comparison reasons, why is standardization of costs used? What is the purpose?
- Q Find the accumulated present value of an investment over a 9 year period if there is a continuous money flow of $6,000 per year and the...
- Q Corporation makes a product whose direct labor standards are 0.8 hours per unit and $28 per hour. In April the company produced 7,350 units using 5,380...
- Q Guusteln ruminure stanted and finished Job 310 during November. The company's records show that the...
- Q 5 of 15, Step 3 of 3 Correct Consider the following data: -10,-10,0,3,-10,3,3 Step 3 of 3 : Calculate the value of the range
- Q The Cunningham Factory has determined that its budgeted factory overhead budget for the year is $576,542 and budgeted direct labor hours are 323,900. If the actual direct labors for the...
- Q Mastery Problem: Cost-Volume-Profit AnalysisQuestion Content AreaCost BehaviorCover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in...
- Q Which of these items related to bonds would be added back in the Operating section of the SCF under the indirect method? (check all that apply) Gain on bond retirement...
- Q The use of the earned income credit could result in a taxpayer receiving a refund even though he or she has not paid any income taxes. True False Select either...
- Q The new manufacturing environment is characterized by more flexibility, a readiness to meet customers requirements, smaller batches, continuous improvements and an emphasis on quality. In such circumstances, traditional management accounting...
- Q Record the cash sales of $1000 to Wally Butler.
- Q Scenario: Gold Star Auditors has almost completed an external audit of a large, important and long-term regular client, Blue Skies Air Freight company. Suresh is a recently recruited, qualified...
- Q What is a variable interest entity? Why do companies establish variable interest entities? I international (IFRS) and US GAAP accounting the same for VIEs? Why is this becoming increasingly important?
- Q A company received a bank statement with a balance of $6,100. Reconciling items included a bookkeeper error of $300-a $300 check recorded as $800-two outstanding checks totaling $830,...
- Q When there is an involuntary conversion of partnership property, the partners can get deferral of gain if the proceeds of the involuntary conversion are distributed to the partners who then...
- Q 4 Exercise 13-2 (Algo) Dropping or Retaining a Segment (LO13-2) 1.85 points Book The Regal Cycle Company manufactures three types of bicycles--a dirt bike, a mountain...
- Q For each item, indicate the portion of the annual report in which it would be found
- Q 7 value: 17.00 points Smart Company prepared its annual financial statements dated December 31. The company used the FIFO inventory costing method, but it failed to apply LCM...
- Q From the following information, compute the margin of safety expressed in units of sales. Sales $467,000 Sales at the break-even point 452,000 ...
- Q Presented below is information related to Perez Company. Required: How much did Perez Company have in expenses for the year
- Q Only using the 15 points below to create the following statements (General ledger and Income Statement, Balance Statement, Owners Equity Statement, Cash Flow statement. A B You decide...
- Q Jose is considering selling his 30% in the M&J Partnership that he helped Maria start several years ago. What would some of the major considerations be from Jose's perspective and...
- Q According to the cash flow equation, variable costs, fixed costs, and taxes are considered to be _____. A. operating activities B. investments C. cash outflows D. cash flow from financing...
- Q M3 Applied Case - Inventory Creation You have been assigned a unique three digit identifier (i.e. the last three digits of your user login ID LEARN-\#\#). This identifier...
- Q I just need to figure out how the get the answer for ENDING WORK IN PROCESS INVENTORY.
- Q Units Sold 60,000 Selling Price $12.50 Direct Material Cost Per Unit $3.00 Direct Labor Cost Per Hour $7.50 ...
- Q (a) Explain why companies need internal controls. (b) Identify and explain the FIVE components of a system of internal control. (c) Identify THREE risks in the revenue system, and...
- Q How much would a homeowner receive with actual cash-value coverage and replacement cost coverage for a three-year old sofa destroyed by a fire? The sofa would cost $nbsp 950 to...
- Q If a natural resource is extracted and then immediately sold, which of the following accounts are debited and credited? A.debit Depletion Expense and credit Accumulated Depletion B.debit Depreciation Expense and...
- Q Ferrar Corporation has two major business segments: Consumer and Commercial. Data for the segments and for the March appear below: In addition, common fixed expenses totaled...
- Q Bradley Company pronostic ventas para el mes de marzo de 10,000 unidades en su regin de Columbus, 13,000 unidades en su regin de Cincinnati y 15,000 unidades en su regin...
- Q \table[[,Case 1,Case 2,Case 3],[Direct materials used,13,000,11,500,10,200],[Direct labor,15,000,7,000,5,760],[Manufacturing overhead applied,24,000,10,500,8,640],[Total current manufacturing costs,56,000,25,000,30,600],[Beginning work in process inventory,9,000,25,500,7,800],[Ending work in process inventory,4,400,8,000,21,699],[Cost of goods manufactured,59,800,42,000,3,001],[Beginning finished goods inventory,4,400,11,000,27,099],[Ending finished goods...
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!