Accounting question and answers for September 23, 2023
- Q A GST registered business has purchased supplies from a non-GST registered company. What action can the GST registered company take for this transaction? Select one: a. It cant claima...
- Q ) Simplify: (14 + 7)/3
- Q Which 2 statements are true regarding Intuit-approved QuickBooks Online apps? (Select all that apply) You or your client can add apps to the client's account They must be developed by...
- Q Ashbrook Company adopted the dollar-value LIFO method on January 1, 2014 (using internal price indexes and multiple pools). The following data are available for inventory pool A...
- Q When work is completed on a job, costs for the completed job are found in which of the following accounts? Cost of Goods Sold Cost of Goods Manufactured Work in...
- Q Alex Richardson earns $1,250 biweekly. Alex is single and claims two exemptions. Use the percentage method to find the IRS withholding tax to be withheld from his paycheck.
- Q on March ABC Oyu1.000 ars of Campes Company common bogom One ABC Company told 2,080 of these share a price 43 pershur accomowy op 1380 como...
- Q Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. Note: Indicate the effect...
- Q Please stop giving wrong answers that's copy pasted from Google. will report and complain for plagiarism and downvote if the answer is wrong. answer only if 100 percent sure...
- Q 2. Cules podran ser las razones para que el aumento o disminucin del ingreso neto repercuta o no en un aumento o disminucin del flujo de efectivo neto? Conteste en...
- Q Describe what information is gatheref and analyzed, categorizing these bases on the principles of credit...
- Q On July 1, 2012, Ryan Company paid the premium in advance on a one-year insurance policy on equipment in the amount of $6,000. At that time, the full amount paid...
- Q Kenny Ltd holds a 60% interest in Swan Ltd. Kenny Ltd sells inventory to Swan Ltd during the year for $40 000. The inventories originally cost Kenny Ltd $32 000...
- Q Purchases Transactions $ b. What account is debited by Nieman Company to record the return
- Q What are the timing differences between GAAP and IRC reporting? And, what are their effects on the deferred tax assets and deferred tax liabilities.
- Q please can you answer the balance sheet and ratios
- Q Falcon Corporation purchased a depreciable asset for $630,000 on January 1, 2012. The estimated salvage value is $63,000, and the estimated total useful life is 9 years. The straight-line method...
- Q Tree, Inc., has held a 10 percent interest in the stock of Limb Company for several years. Because of the level of ownership, this investment has been accounted for using...
- Q Baracus, Inc. pays $95,000 in cash and stock to acquire 80% of the voting stock of Clover Company. The fair value of the noncontrolling interest is $21,250. The book value...
- Q An individual received a 70% capital interest in a general partnership by contributing the following: Investment land purchased 10 years ago for $40,000 and valued at $60,000 A personal (nonbusiness)...
- Q i need to create a balance sheet and a multiple step income statement. SOMEONE PLEASE HELP ME. here is...
- Q LO.2, 5 Al es mdico y ejerce su prctica como propietario nico. Durante 2014 recibi en efectivo $280,000 por servicios mdicos. Del monto recaudado, $40,000 fueron por servicios prestados en...
- Q Al preparar el informe de costos de produccin utilizando el mtodo FIFO, las unidades de produccin equivalentes generalmente se determinan para a. costos de conversin solamente b....
- Q Members of the board of directors of Safe Zone have received the following operating income data for the year ended May 31, 2018: Safe Zone...
- Q Required information [The following information applies to the questions displayed below.] Inventory at the beginning of the year cost $12,400. During the year, the company purchased...
- Q Assume a situation in which an attorney who provided significant litigation counsel to a client to refuses to furnish information requested in an audit. Which of the following descriptions best...
- Q DEFs ending inventory on December 31, 2021, was $500,000. DEFs ending inventory on December 31, 2022, was $300,000. Furthermore, DEFs cost of revenues in 2022 was $600,000. What...
- Q all the following are true regarding the FASB codification except?
- Q Discuss and explain If an entity is considering revaluing its exploration and evaluation assets, would the revaluation increase the relevance of the information from the perspective of the readers of...
- Q Location decisions are long term, what happens when the exchange rate is no longer favorable?
- Q The Alligator segment of Louisiana Specialty Meats is operating at a loss and has the following data: Sales $600,000 Variable expenses 420,000 Fixed expenses 300,000 If the Alligator segment is...
- Q Evergreen Company was formed in 2013 as a company specialized in producing baby skin care products. Their dermatologist-developed skin care products gained...
- Q What is the difference between fraud and error? With all the advances in technology, why is fraud a growing problem?
- Q Explain how recording the payroll expenses and wages differs from the recording of the payroll payment. (150 word count)
- Q Sarah Jones earns $560 per week selling life insurance for Farmers Insurance plus 4% of sales over $5,750. Sarahs sales this month (four weeks) are $24,500. How much does Sarah...
- Q Isphase, Inc. has provided the following financial data for the year ended December 31, 2017: There are no beginning inventories. Prepare an income statement...
- Q 4. What is the purpose of an audit of a companys financial statements? 5. What are audit objectives? 1. Explain the four sources of auditor liability.
- Q Garden Sales, Incorporated, sells garden supplies. Management is planning its cash needs for the secind quarter Garden Saies, Incorporated, sells garden...
- Q A quasi contract can be defined as
- Q El entorno empresarial contemporneo est respaldado por un enfoque estratgico en la gestin de costos, anlisis de negocios y gestin de calidad total para mejorar la toma de decisiones. Discuta...
- Q Why certain long-lived assets are depreciated (amortized)? Explain
- Q Discussion: Would the use of standards be appropriate in a non-manufacturing setting, such as a fast-food restaurant
- Q Karim Corp. requires a minimum $8,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash...
- Q The following table contains information on spot and forward exchange rates among U.S. dollar (USD), Malaysian ringgit (MYR), Japanese yen (JPY), Euro (EUR), and Canadian dollar (CAD). ...
- Q ch Required information [The following information applies to the questions displayed below.] Camp Rainbow offers overnight summer camp programs...
- Q Preparing adjusting entries at the end of the financial year is necessary: to prepare the ledger for the next accounting period. to close the accounts. to correct any errors made...
- Q Raw materials inventory Work in process...
- Q Financial statements are prepared to report mainly to the customers and other users. True or False?
- Q . Explain three procedures which insurance companies may modify when handling catastrophic losses.
- Q 5. In addition to the info in problem #2, it costs $4.5 per unit produced for variable manufacturing overhead, plus $50,000 per month for fixed manufacturing...
- Q An 25-year T-bond can be stripped into how many separate securities? 26 27 50 25 51
- Q Cuando se solicitan materiales directos y se colocan en la cuenta de produccin, ________ aumenta. A. Control de gastos generales de fabricacin B. Control de materiales C....
- Q If the total total cost of an item is 180 amd its variable costvis 0 , this cost can be described as :
- Q One reason for the use of residual income to evaluate the performance of an investment center is that residual income helps to overcome the sub-optimization issue that can be associated...
- Q On January 1,2024, Harlon Consulting entered into a three-year lease for new office space agreeing to lease payments of $6,800 in 2024, $9,600 in 2025, and $12,400 in...
- Q What is the effect on total assets and stockholders' equity of purchasing equipment on account? Total assets Stockholders equity A. increase no effect B. decrease decrease C. increase increase D....
- Q invoices were paid within the discount period. If required, round the answers to the nearest dollar
- Q A. A partial balance sheet for orange company is presented below. Orange Company Income statement For the year Ended December 31, 2019 Sales $100,000 Cost...
- Q 14.5 Grades) on January 1, 2021, the stockholms equty section of Soutine was as follows: Common stock (310 par vahe) 5400,000, paidan bonte tuhod) capital...
- Q Aztec Company sells its product for $170 per unit. Its actual and budgeted sales follow. All sales are on credit. Collections are as follows: 24%...
- Q Question 2: ..... (50 marks) In the following table, the balances of some accounts appearing in the trial balance of Al-Sharq Foodstuff Company for the fiscal year ending on 12/31/2020...
- Q Lake Incorporated purchased all of the outstanding stock of Huron Company paying $969,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets...
- Q The____ is computed by dividing a project's annual after-tax net income the annual average amount invested.
- Q When the market rate of interest was 12%, Halprin Corporation issued $642,000, 11%, 10-year bonds that pay interest annually. Use the present value tables below. The selling price of this...
- Q Exercise 10-5 Utilizing a Constrained Resource [LO10-5] Outdoor Luggage Inc. makes high-end hard-sided luggage for sports equipment. Data concerning three of the companys most popular models...
- Q value: 10.00 points Barker Company has a single product called a Zet. The company normally produces and sells 87,000 Zets each year at a...
- Q Prepare the journal entry to record the sale of gift cards on May 25
- Q Which of the following assets does merchandize company use but service company do not Building COGS Merchandize Inventory Account Receivable 9:2002
- Q Greek Limited list of balances on December 31,2017 Additional Information: Ordinary dividends amounting to $30,000 was paid in December 2017, but this dividend is not...
- Q PLEASE SHOW WORK 1. For the 4th of July, a large discount chain sells packages of red, white, and blue steamers for $3.00. Of 10,000 streamers, 8,500 sell at the...
- Q Art-Sea Corp is a local company which produces Nova Scotia paintings. Each painting is 2 feet high by 3 feet wide. Art-Sea hires artists, and purchases all materials for the...
- Q Thank you very much
- Q For which of the following matters should an auditor obtain written management representations? Select one: A. Management's addressing control deficiencies communicated to the audit committee during previous engagements. B. Management's...
- Q On May 1, 2022, Kakuma, Inc. purchased 90,000 of Kakamega Co.'s common stock for $11.95 a share. The finance team elected to record the investment using the fair value method....
- Q Tempting Toys manufactures and distributes a number of products to retailers. One of these products, Playclay, requires two pounds of material A135 in the...
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