Accounting question and answers for September 22, 2023
- Q according to the question ifs strictly saying the net income is $76,000 So yes i assume it will be a negative number. Question 2: Dividing...
- Q please help. urgent. Anderson Publishing has two divisions: Book Publishing and Magazine Publishing. The Magazine division has been losing money for the last five...
- Q John Porter is an hourly employee of Motter Company located in New York City. This week, Porter had to travel...
- Q Those items are taken from the financial of Martin Corporation for 2027. Retained earnings (beginning of year) $ 31,000 Utilities expense. Equipment Accounts Payable 2,000 66,000 cash Isacaries and...
- Q was $138 a share. Advanced Life Co. reported no income or loss for the current year. a1. Journalize the entry to record the declaration of the dividend, capitalizing...
- Q Required information [The following information applies to the questions displayed below) Tennis Apparel has two classes of stock authorized: 6%,$10 par preferred, and...
- Q 1. Who prevails and why? Name a case from this chapter that supports your answer. 2. If Jerry Schuster changed the name of the business...
- Q The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is...
- Q Question 2 (20 marks) You are working for a fund that invests actively in different investment sectors. Analysts at your firm have produced the following estimates...
- Q Chapter 7 Homework Saved 2 Record the following transactions of Fashion Designs in a general journal. Assume 8 percent for sales tax: DATE TRANSACTIONS...
- Q mework Question 7 of 13 Current Attempt in Progress A job order cost sheet for Ryan Company is shown below. Job No....
- Q Construct a full Statement of Shareholders Equity for Nunu Enterprise, as of December 31, 2019, given the following information. As of December 31, 2018, there were 50 million shares...
- Q Need The this done For Ross Annual Report 2020 heres the annual report 2020 https://press.nordstrom.com/static-files/449f17f6-ffb5-4ec4-8dfe-bf93f16e2822 I meant Nordstrom sorry Common Stock Complete the...
- Q CH 10 AP. Kitchen Kaper's policy is to keep 25% of the next month's sales in ending inventory. If sales are expected to be 5,000 units...
- Q Hello, can someone help with the following for me? Thanks in advance!! Listed below are several misstatements of inventory, accounts payable, and accrued liabilities accounts. For each of the following...
- Q QUESTION 31 Which theory describes how relationships initiate and develop through processes of exchange and reciprocity? O Norm of reciprocity O Social exchange theory Implicit leadership...
- Q 10 6 11 10 The following transactions occurred during July 1. Received $1,040 cash for services provided to a customer during...
- Q Please completely answer score: 7 Bennett Windows is a small company that installs windows. Its cost structure is as follows: Selling price from each window installation $...
- Q Required information [The following information applies to the questions displayed below.] Johnson and Gomez, Inc., is a small firm involved in the production and sale of electronic business...
- Q Problem 4-12 Contrasting ABC and Conventional Product Cost [LO4-2, LO4-3, L04-4) Precision Manufacturing Inc. (PMI) makes two types of industrial...
- Q Problem 8-24 Cash Budget with Supporting Schedules (LO8-2, LO8-4, LO8-8] Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company...
- Q Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2018, for $515,300 cash. Pratt will operate Spider as a wholly owned subsidiary with a separate legal and...
- Q Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each variance by selecting "F"...
- Q Ayayai Company acquired the assets (except for cash) and assumed the liabilities of Blossom Company on January 1, 2024, paying $721,000 cash. Blossom Company's December 31,2023, balance sheet,...
- Q Company J must choose between two alternate business expenditures. Expenditure 1 would require a $30,000 cash outlay and Expenditure 2 requires a $28,500 cash outlay. Determine the marginal...
- Q Part #4: E Company has budgeted sales revenues of $160,000 forMay, $210,000 for June, $235,000 for July, and $172,000 for August.To prepare a cash budget, the company must determine the...
- Q Southwestern Wear Inc. has the following balance sheet:Current assets$1,875,000Accounts payable$ 375,000Fixed assets1,875,000Notes payable750,000Subordinated debentures750,000Total debt$1,875,000Common equity1,875,000Total assets$3,750,000Total liabilities and equity$3,750,000The trustee's costs total $290,500, and the firm has no accruedtaxes or...
- Q Lessee enters into a four-year lease of equipment and concludesthat the agreement is a finance lease because the lease contains anoption for Lessee to purchase the equipment at the end...
- Q On January 1, 2017, Skysong Company purchased 11% bonds, havinga maturity value of $274,000, for $295,314.87. The bonds providethe bondholders with a 9% yield. They are dated January 1, 2017,and...
- Q AprilMayJuneJulySales600,000900,000500,000400,000Cost of Goods sold420,000630,000350,000280,000Gross Margin180,000270,000150,000120,000Selling and admin expensesselling expense79,000120,00062,00051,000administrative45,00052,00041,00038,000total selling and administrative expenses124,000172,000103,00089,000net operating income56,00098,00047,00031,000a. sales are 20% for cash and 80% on accountb. sales on account are collected over...
- Q Head-First Company plans to sell 5,000 bicycle helmets at $75each in the coming year. Unit variable cost is $45 (includes directmaterials, direct labor, variable factory overhead, and variableselling expense). Total...
- Q Packaging Solutions Corporation manufactures and sells a widevariety of packaging products. Performance reports are preparedmonthly for each department. The planning budget and flexiblebudget for the Production Department are based on...
- Q [The following information applies to the questionsdisplayed below.] On January 1, 2021, Red Flash Photography had the followingbalances: Cash, $25,000; Supplies, $9,300; Land, $73,000; DeferredRevenue, $6,300; Common Stock $63,000; and Retained...
- Q 1.Find the total amount due on the invoice. Round answer to thenearest cent.Taxable SaleSales Tax PercentInvoice Total$380.985.5%$2. Marisa Tallifero bought a cordless phone priced at $49.99. Itwas subject to 8.75% sales...
- Q Machinery purchased for $41,200 by Swifty Corp. on January 1,2015, was originally estimated to have an 8-year useful life with aresidual value of $6,000. Depreciation has been entered for fiveyears...
- Q 1 A and B form the AB partnership. According to the agreement, Acontributed $70,000 in cash while B contributed $80,000. Make thejournal entry to form the partnership under the followingassumptions:a)...
- Q Smoky MountainCorporation makes two types of hiking boots—the Xtreme and thePathfinder. Data concerning these two product lines appearbelow:XtremePathfinderSelling price per unit$120.00$87.00Direct materialsper unit$63.30$52.00Direct labor perunit$17.00$10.00Directlabor-hours per unit1.7DLHs1.0DLHsEstimated annualproduction and sales22,000units76,000unitsThe...
- Q Designer Frames makes bicycle frames in two processes, tubingand welding. The tubing process has a capacity of 125,000 units peryear; welding has a capacity of 150,000 units per year. Costinformation...
- Q The following selected accounts appear in the ledger of ParksConstruction Inc. at the beginning of the current year:Preferred 2% Stock, $100 par (60,000 shares authorized, 30,000shares issued)$3,000,000Paid-In Capital in Excess...
- Q Required information[The following information applies to the questionsdisplayed below.] Laker Company reported the following January purchases and salesdata for its only product. DateActivitiesUnits Acquired at CostUnits sold at RetailJan.1Beginning inventory210units@$13.50=$2,835Jan.10Sales160units@$22.50Jan.20Purchase150units@$12.50=1,875Jan.25Sales160units@$22.50Jan.30Purchase320units@$12.00=3,840Totals680units$8,550320unitsFor specific identification,...
- Q Port Ormond Carpet Company manufactures carpets. Fiber is placedin process in the Spinning Department, where it is spun into yarn.The output of the Spinning Department is transferred to the TuftingDepartment,...
- Q Part #1: K Company is planning its cash disbursements for theupcoming months. In June, it anticipates $72,000 in Purchases,$130,000 in Payroll, and $40,000 in Loan Payments. In July, itanticipates $77,000...
- Q Sal Amato operates a residential landscaping business in anaffluent suburb of St. Louis. In an effort to provide qualityservice, he has concentrated solely on the design and installationof upscale landscaping...
- Q The Comet Company's budget contains these standards formaterials and direct labor for a unit: Material 5 lbs. @ $1per lb. = $5Labor 2 hrs. @ $5 per hr. = $10Although...
- Q This assignment is the same for both Florida & non Floridastudents. This problem requires the student to develop a simplebudget. At the end of the course, the student will receive...
- Q Problem 5-4AWolford Department Store is located in midtown Metropolis. Duringthe past several years, net income has been declining becausesuburban shopping centers have been attracting business away fromcity areas. At the...
- Q Plasto Corporation manufactures a variety of plastic products,including a series of molded chairs. The three models of moldedchairs, which are all variations of the same design, are Standard(can be stacked),...
- Q 2.Aaron, 34 and Rita, 31 considering to buy their first house. Thecouple has two kids. Aaron and Rita currently working in KotaKinabalu. Their current combined gross annual income is RM65,000.They...
- Q Afternoon I would like to use Apple as my example Go to YahooFinance and select a company. Then, share with the class either thecompany’s gross profit or total operating expenses,...
- Q The following information is available about the company:a.All sales during the year were on account.b.There was no change in the number of shares of common stockoutstanding during the year.c.The interest...
- Q pick from the multiple choiceUnder the full goodwill method, a control premium is recognisedwhen:a.the parent paid more than the fair value for the shares theyacquired.b.the parent paid less than the...
- Q Static Budget versus Flexible BudgetThe production supervisor of the Machining Department for NilandCompany agreed to the following monthly static budget for theupcoming year:Niland CompanyMachining DepartmentMonthly Production BudgetWages$331,000Utilities22,000Depreciation36,000Total$389,000The actual amount spent...
- Q Beginning Inventory# of unitsCost per unitTotalBeginning Inventory15$10$150Jan 1. Purchase15$11$165Jan 10. Purchase15$12$180Total451. During January, AA sold 20 units at $30 per unit.Under FIFO, how much is the GrossProfit?$365$380$390$3952. During January, AA...
- Q A number of companies voluntarily prepare segment reports beyondwhat is required by regulation. Given the difficulties faced byregulators in developing rules for segment reporting, is regulationreally necessary and/or desirable?
- Q Becton Labs, Inc., produces various chemical compounds forindustrial use. One compound, called Fludex, is prepared using anelaborate distilling process. The company has developed standardcosts for one unit of Fludex, as...
- Q Pinnacle Plus declared and paid a cash dividend of $8,400 in thecurrent year. Its comparative financial statements, prepared atDecember 31, reported the following summarized information:Current YearPrevious YearIncome StatementSales Revenue$200,000$171,000Cost of...
- Q Swathmore Clothing Corporation grants its customers 30 days’credit. The company uses the allowance method for its uncollectibleaccounts receivable. During the year, a monthly bad debt accrual ismade by multiplying 2%...
- Q Mercer Asbestos Removal Company removes potentially toxicasbestos insulation and related products from buildings. There hasbeen a long-simmering dispute between the company’s estimator andthe work supervisors. The on-site supervisors claim that...
- Q Here are comparative balance sheets for Velo Company.Velo CompanyComparative Balance SheetsDecember 31Assets20202019Cash$73,400$33,100Accounts receivable85,80071,200Inventory170,200187,000Land72,800101,000Equipment260,600200,800Accumulated depreciation—equipment(66,100)(33,900) Total$596,700$559,200Liabilities and Stockholders’ EquityAccounts payable$35,000$47,500Bonds payable151,400203,400Common stock ($1 par)217,600174,100Retained earnings192,700134,200 Total$596,700$559,200Additional information:1.Net income for 2020 was $103,600.2.Cash dividends...
- Q Determine the amount of sales (units) that would be necessaryunderBreak-Even Sales Under Present and Proposed ConditionsDarby Company, operating at full capacity, sold 86,400 units ata price of $51 per unit...
- Q Depreciation by Two Methods; Sale of Fixed AssetNew lithographic equipment, acquired at a cost of $625,000 onMarch 1 of Year 1 (beginning of the fiscal year), has an estimateduseful life...
- Q Bledsoe Corporation has provided the following data for themonth of November:BeginningEndingRaw materials$26,800$22,800Work in process$18,800$11,800Finished Goods$49,800$57,800Additional information:Raw materials purchases$73,800Direct labor cost$93,800Manufacturing overhead cost incurred$43,980Indirect materials included in manufacturing overhead costincurred$4,180Manufacturing overhead...
- Q Emerson Process Management, a global supplier of measurement,analytical, and monitoring instruments and services based inAustin, Texas, had a new data warehouse designed for analyzingcustomer activity to improve service and marketing...
- Q Option #1: Acquisition Costs: Land andBuildingYou are the project manager at Janson Manufacturing. Feedbackfrom the annual employee’s survey revealed that employees wereinterested in having a fitness center. Thus, last week,...
- Q 1). costs are costs that are incurred for theproduction requirements of a certain period.T/F2) budgetary slack can be avoided if lower and mid level managersare requested to support all of...
- Q A manufacturing company's weekly payroll is $800,000 for a 5-daywork week beginning each Monday and ending each Friday. The lasttime salaries and wages were recorded was Friday, December 26. Whatadjustment...
- Q Marvel Parts, Inc., manufactures auto accessories. One of thecompany’s products is a set of seat covers that can be adjusted tofit nearly any small car. The company has a standard...
- Q Problem 23-4A (Part Level Submission) Kansas Company uses astandard cost accounting system. In 2017, the company produced27,600 units. Each unit took several pounds of direct materials and1.6 standard hours of...
- Q 1.A new hog investment requires an initial outlay of $130,000 and isexpected to increase operating receipts by 87,000 but will alsoincrease operating expenses by 23,000. The investment will bedepreciated over...
- Q Enter the following balances in a general ledgerformat as of December 1.11-cash $161,800. 12- Accounts Receivable 12,940. 14- MaintenanceSupplies 10,850. 15- Office Supplies 4,900. 16- Office Equipment28,500. 17- Accum.Depr-Office Equipment...
- Q assignmentWith her decision to expand Salty Pawz, Wanda needs a workforce.However, she has never interviewed or hired anyone in her life.While putting labels on bags of dog treats one afternoon,...
- Q Home Hardware reported beginning inventory of twenty sixshovels, for a total cost of $156. The company had the followingtransactions during the month:Jan.2Sold 8 shovels on account at a selling price...
- Q In five years, Kent Duncan will retire. He is exploring thepossibility of opening a self-service car wash. The car wash couldbe managed in the free time he has available from...
- Q Depreciation by Three Methods; Partial YearsPerdue Company purchased equipment on April 1 for $37,530. Theequipment was expected to have a useful life of three years, or4,860 operating hours, and a...
- Q Carey Company is considering the acquisition of additionalequipment for the business and is analyzing the opportunity topurchase versus lease the equipment. The staff at Carey Co. fullyunderstands the accounting for...
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