Accounting question and answers for September 21, 2023
- Q Marco is 65-years-old and is married to his wife Susan. Last year, Marco had $52,500 in W-2 wages which he received in the course of his employment...
- Q Lawrence Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at 4% of sales revenue. In 2017, the company had $605,000 in sales. In the same...
- Q Shamrock Company Shamrock Company sells their merchandise only on account. The following data are available at December 31, 2014. Sales $512,000...
- Q Westerville Company reported the following results from last years operations: Sales $ 1,500,000 Variable expenses 650,000 Contribution margin 850,000 Fixed expenses 580,000 Net operating income $ 270,000 Average operating assets...
- Q Read the Following blog then answer the questions that follow: Productivity Rules 12 January 2011 by Bill Waddell by BILL WADDELL Don't let the passion with which the very lean...
- Q Moving to another question will save this response. Question 9 of 29 Question 9 1 points Save Answer Steve was involved in an auto accident. Both...
- Q Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-order costing...
- Q On 1 March 2017, Fox Ltd paid $66 000 for a machine with a useful life of 10 years and a residual value of $6 000. The company uses straight-line...
- Q Use the information from above excel sheet to calculate and finish the following missing information. Show formulas. 63 B C 1 Fill in the blanks (yellow)...
- Q write the main philosophy that cost accounting system rely on?
- Q The city council of Aberdeen must determine the tax policy for the city for the coming year. Four types of taxes are used to raise money: Property tax...
- Q Accounts receivable turnover and days sales in receivables For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $8,572,500 $7,072,500 Accounts receivable: Beginning of year 640,000 590,000 End...
- Q Pioneer Trucking Company, which leases trucks to oilfield workers to move their equipment, recently purchased a truck. The sticker price of the truck was $52,000 and the company paid $47,500....
- Q Bamett Products manufactures three types of remote-control devices: Economy, Standard, and Deluxe. The company, which uses activity-based costing, has identified five activities (and related cost drivers). Each activity,...
- Q Kingsway Company had the following information available for the past quarter: Budgeted factory overhead costs $75,000 Actual factory overhead costs $80,000 Budgeted direct labor hours 20,000 Actual direct labor hours...
- Q Rachelle transfiere propiedad con una base fiscal de $800 y un valor justo de mercado de $900 a una corporacin a cambio de acciones con un valor justo de mercado...
- Q Pro-Craft Company computed the following activity rates to allocate overhead cost for the year
- Q Firms in Japan often employ both high operating and financial leverage because of the use of modern technology and close borrowerlender relationships. Assume the Mitaka Company has a sales volume...
- Q 13. Dorothy donated a valuable painting, recently appraised at $25,000, to her town's civic theater. Dorothy had purchased the painting many years ago for $11,000. The theater sold the painting...
- Q * Question 2 Sheffield Industries had sales in 2016 of $6,960,000 and gross profit of $1,152,000. Management is considering two alternative budget plans to increase its gross profit...
- Q Consider the incremental analysis and capital budgeting methods that are included this week. Choose two of those methods and provide examples to the class of how you can or do...
- Q Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if...
- Q France Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size companies around the world. Software development started during 2018, during which time $45 million...
- Q Laverne compr una nueva pieza de equipo para usarla en sus nuevas instalaciones. El equipo de $385,000 se compr con un pago inicial de $57,750 y con efectivo recibido a...
- Q Check my work he 2017 statement of financial position of Roger's Tennis Shop Inc. showed $470,000 in the common stock account and $4.5 million...
- Q Current Attempt in Progress Bramble Corp. had the following accounts and balances: Accounts payable Equipment $30400 5100 Accounts receivable Land $34600...
- Q Blossom, Incorporated prepared the following master budget items for July: Required: During July, Blossom actually sold 39,800 units. Prepare a flexible budget for Blossom based on actual sales....
- Q Accounting for Decision Making | Semester 1, 2021 22 a) Calculate the missing amounts. (5 marks) Assets Equity Gabilities $40,000 7 ag $50,000...
- Q Nicholson Company uses job order costing. Supporting documents for the Work-In-Process Inventory account do NOT include ________. labor time tickets ...
- Q The Motor Works is considering an expansion project with estimated fixed costs of $130,000, depreciation of $16,900, variable costs per unit of $45.40, and an estimated sales price of $80.20...
- Q Dom Grady donated Ugg stock (value-$3,000, cost-$1,300) to PETA, a qualified charity (he has proper documentation) He has owned the Ugg stock for 7 years. How much can he deduct...
- Q Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches used in each of its products. The supplier charged Vista $2.6 per switch. As...
- Q A loan was repaid by end-of-month payments of $1,550 in five years at 16% compounded quarterly. (a) Compute the present value (PV)...
- Q Identify ONE accounting policy that could lead to financial misstatements (deliberate or unintentional), or opportunities for earnings management due to its application.
- Q When creating and operating a business the owner must determine his or her "basis" in the business. How does the owner compute his or her basis in the business when...
- Q Engine Ltd manufactures engines for speed boats. Its popular engine called ignite is currently under review. Cost and revenue data, based on sales of 5,000 units, is given below: The...
- Q Sales Mix and Break-Even Analysis Jordan Company has fixed costs of $1,848,600. The unit selling price, variable cost per unit, and contribution margin per unit for the company's...
- Q Equipment for immersion cooling of electronic components has an installed value of $182,000 with an estimated trade-in value of $40,000 after 15 years. For years 2 and 10, use DDB...
- Q L015-2,3,4 (72 point each). During the current year Q Inc.'s foreign Division A incurred production costs of $4 million for units that are transferred to its other foreign...
- Q 2. Explain what is meant by audit judgement and give examples of its application throughout the audit process. How certain can an auditor be that their judgement has produced the...
- Q Sheridan Company just began business and made the following four inventory purchases in June: The company uses a periodic inventory system. A physical count...
- Q July 1 Beginning Inventory 2,000 $ 35 July 5 Sold 1,000 July 13 Purchased 6,000 37 July 17 Sold 3,000 July 25 Purchased 8,000 39 July 27 Sold 5,000 what...
- Q The City of Grinders Creek maintains its books in a manner that facilitates the preparation of fund accounting statements and uses worksheet adjustments to prepare government-wide statements....
- Q Which of the following is an ethical standard of managerial accounting? a.courage b.promptness c.effectiveness d.integrity e. all of the above
- Q Question 10 Sejahtera Company acquired a piece of production equipment on 31 January, 2014, for use in producing tripod stands. The catalog listed the...
- Q Question 3 (30 marks) A- The following transactions occurred between the home office and the Mason Branch of Smaldino Company: Cash of $1,000 was forwarded by the home office...
- Q Profits have been decreasing for several years at Pegasus Alrlines. In an effort to Improve the company's performance, the company Is thinking about dropping several flights that appear...
- Q If a manager builds slack into a budget, how would that manager handle estimates of revenues and expenses? Expenses Revenues A. Underestimate Underestimate B. Underestimate Overestimate C. Overestimate...
- Q Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic; railroads, such as Pacific; and transportation arrangement services, such as Mediterranean. Recent financial...
- Q QUESTION 2 (Points: 10) 2. Assume that when you were in high school you saved $1,000 to invest for your college education. You purchased 200 shares of Smiley Incorporated, a...
- Q 4.Self-actualization may be defined as a need to express one's inner nature and talents. (p.4) True False
- Q An increase in investment demand for any given level of income and interest ratesdue, for example, to more optimistic "animal spirits"-will, within the IS-LM framework, output...
- Q I need it ASAP IM.82 A distributor of industrial equipment purchases specialized compressors for use in air conditioners. The regular price is $45, however, the manufacturer of this...
- Q El asiento de diario para reconocer el gasto por intereses devengados incluira un A) un cargo a utilidades retenidas y un crdito a intereses por pagar. B) un...
- Q Sheridan Manufacturing purchased a new building with the surrounding land. The price paid was $2,400,000, including the commission charged on the sale. An...
- Q Tropic Corp. has sales revenue of $508,000 resulting in operating income of $63,000. Average invested assets total $604,000, and the cost of capital is 6%. Calculate the return...
- Q sk 7. All of the following are true about average cost per unit except (1 Point) Average cost does not include fixed cost Average...
- Q Tyrene Products manufactures recreational equipment. The operating results for the most recent year for one of its products, a skateboard, are presented below. Sales $ 1,950,000 Variable...
- Q Fall 2018 ACCT 3377 jobs. The following overhead activities were budgeted for the year Cost $120,000 1. Highland Co. is a job-order-costing company that...
- Q 0. Open the StateSortQuery in SQL View. Modify the query to sort the records in ascending order by the State field. (Hint: Use the ORDER BY...
- Q (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round averoge cost per...
- Q Weinreich Corporation produces and sells a single product. Data concerning that product appear below: selling price per unit- $180 = 100% of sales Variable expenses - 90 = 50% of...
- Q Jim y Mary Jean estn casados y tienen dos hijos dependientes menores de 13 aos. Ambos padres tienen un empleo remunerado y ganan salarios de la siguiente manera: $16,000 (Jim)...
- Q You decide to borrow $350,000 to build a new home. The bank charges an interest rate of 2.9% compounded monthly. If you pay back the loan over 30 years,...
- Q A business issued a 120-day, 6% note for $12,600 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the...
- Q Following are the financial statements of Clinton-Trump Charm School 2018 2017 cash 100,000 24000 a/r 80,000 70000 inventory 200,000 222,000 equip 200,000 100,000 a/d...
- Q On 1st Jan, 2015, Apple Co. purchased at par 13% bonds having maturity value 800,000 $. They mature on 1st Jan. 2020, with interest receivable December 31st of each year....
- Q Tori Company uses the FIFO method in its process costing system. The first processing department, the Soldering Department, started the month with 24,000 units in its beginning work-in-process inventory that...
- Q Te encuentras con un nuevo cliente. El cliente afirma que ha comenzado un nuevo negocio este ao y compr un edificio, camiones, muebles, computadoras y un telfono celular. El cliente...
- Q Note that I do not ask you for the total costs if the firm makes and the total costs if the firm buys, but instead I ask you...
- Q Following are data for BioBeans and GreenKale, which sell organic produce and are of similar size. Average total assets Net sales...
- Q Calculate the following amounts using the information below (Remember you can email me your calculations for possible partial credit): - Raw Materials Inventory, Jan 1$60,000 -...
- Q ABC company made $170 revenue and COGS matched with this revenue was $100. How much gross profit (in $ ) does ABC earn from this revenue?...
- Q Sikes Hardware is adding a new product line that will require an investment of $1,512,000. Managers estimate that this investment will have a 10-year...
- Q For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2016, Jeff decided to move to rented quarters and to...
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