Accounting question and answers for December 06, 2023
- Q Current assets divided by current liabilities is the: A-Current ratio. B-Quick ratio. C-Debt ratio. D-Liquidity ratio. E-Solvency ratio.
- Q a payment on account of $840 was debited to accounts payable
- Q Common shares appear on the: Question 9 options: balance sheet income statement retained earnings statement cash flow statement
- Q 1)Did Citibank engaged in predatory lending in the Caribbean? If so, how? 2) Is it a case of financial innovation on Citibank' part?
- Q Caculate Julia vehicle expense deduction by entering the required informationinto the boxes right.
- Q Mastery Problem: Job Order Costing Purl of Great Price Company Maria Young is the sole stockholder of Purl of Great Price Company (POGP Company), which produces high-end knitted sweaters and...
- Q The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,560,000 Social security tax withheld 93,600 Medicare...
- Q Xavier has excess liquidity. He decides to invest his cash in equity funds that generate capital gains, rather than bond funds that generate interest income. Which of the following is...
- Q The Town of Bedford Falls approved a General Fund operating budget for the fiscal year beginning on July 1. The budget provides for estimated revenues of $2,516,000 as follows: property...
- Q Identify 3 narrower aspects of the following. In other words, what are 3 areas you could investigate that fit into these very broad topics? Financial Accounting Managerial...
- Q Question 2 On 1 January 2018 the following balances, among others, stood in the books of R Atkins, a sole trader: (a) Income tax, RM210 (Dr); (b) Packing materials, RM740...
- Q Environmental Accounting and Sustainability Reporting - Brief Information Step 1: Data Collection and Measurement Environmental accounting involves the systematic collection and measurement of data...
- Q Question 3.) On April 1, 2019, Jim's Lawn Service borrowed money from their bank by issuing a $100,000, 180 days, non-interest-bearing note. The note was discounted to 10%. Compute the...
- Q The supplies account had a beginning balance of $1,870. Supplies purchased during the period totaled $4,394. At the end of the period before adjustment, $578 of supplies were on hand....
- Q The New City College reported deferred revenues of $486,000 as of July 1, 2019, the first day of its fiscal year. Record the following transactions related to student tuition and...
- Q High-Low Method for a Service Company Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of...
- Q Razul and Amy decided to start a partnership called SA Consulting on January 1, 2020. Each of them contributed a number of items to the partnership,...
- Q The ABCD Partnership has the following balance sheet at January 1, 2018: ...
- Q Explain in detailed your answers for the following questions: 1- Define project cost overrun and terms related to it? 2- How cost overrun occurred and how to measure it and...
- Q Tamarisk Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 8,700 units....
- Q The entry to transfer costs from Department A to Department B is recorded as
- Q Question 2 Journalize the following transactions: Q8 Corporation, a Kuwait-based company (Functional currency the KWD), had the following transactions with its Bahraini subsidiary (Functional currency the...
- Q **I think it was ____ who credited the customer's account. Question 2 options: a) her b) ...
- Q Use the following information to compute the cost of goods manufactured and the cost of goods sold for Dinar Company. Materials used in product 120,000.00 ...
- Q Providing bonuses to sales people could be considered a part of which management function? A : evaluating B : planning ...
- Q Environmental Accounting and Sustainability Reporting - Brief Information Step 1: Data Collection and Measurement Environmental accounting involves the systematic collection and measurement of data...
- Q In a well-controlled petty cash fund, the amount of cash minus the amount of expenditure vouchers should be equal to the original amount in the petty cash fund. True or...
- Q 1. How to the weighted average and first-in, First-out methods of process costing differ in their treatment of beginning work in process inventory units? 2. What is...
- Q AQUASCAPE CENTRE Trial Balance as at 31 December 2020 Accounts Titles Dr. (RM) Cr. (RM) ...
- Q A machine with a cost of $90,000 has an estimated residual value of $9,000 and an estimated life of 4 years or 25,000 hours. What is the amount of depreciation...
- Q Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2020, inventories consisted...
- Q Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $8 par value, 300,000 shares authorized, 60,000...
- Q Nicanor retired at the end of 2022 after rendering 25 years of continuous services for ABC Corporation which employed him immediately after his graduation from college. Nicanor was then 23...
- Q State the various types of business organizations that exist and explain the distinguishing characteristics of each
- Q Multiple Choice: What actions should be taken by either internal auditors or management if a company's continuous audit system has too many alarms that are false positive? 1.Abandon the system....
- Q 1. Which of the following statement do not relate to budgeting? (a) It is a plan for future activities. (b) It helps the management decide how resources of a company...
- Q Refer to P&G's financial statements and the related information in the annual report to answer the following questions. http://www.pg.com/annualreport2011/_files/pdf/PG_2011_AnnualReport.pdf a) Examining each item in P&G's balance sheet, identify those items...
- Q Sanjeev takes out a $2,700 variable interest loan at prime +0.5% when the prime rate was 4.25%. After three months the prime rate increased by %. How much did Sanjeev...
- Q In a situation where the main source of uncertainty is about the quantity of demand, which buffering strategy would be expected to perform best?A. Scrap AllowanceB. Safety Lead TimeC. Safety...
- Q A trader wants to construct a top vertical combination: she sells a call option with a strike price of $60 and a put option with a strike price of $40....
- Q Exercise 11-3 Make or Buy Decision [LO11-3] Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts...
- Q Una revisin del libro mayor de Felipe Company al 31 de diciembre de 2012 produce los siguientes datos relacionados con la preparacin de los asientos de ajuste anuales. 1. Sueldos...
- Q Tax instructions Your clients are the Schmoes. They have a company formed this year called SCHMOECO OUTDOORS . They will operate from their home and will keep equipment in a...
- Q In a traditional job costing system, the issuance of indirect materials to a production department increases: (CPA adapted) Multiple Choice A. Stores Control. B. Work-in-Process Control. C....
- Q You are considering how to invest part of your retirement savings.You have decided to put $600,000 into three stocks: 55%of the money in GoldFinger (currently 27/share), 24% of the money...
- Q Pregunta 1 Miguez Corporation fabrica un producto con los siguientes costos estndar: Cantidad estndar u horas Precio o Tarifa Estndar Costo...
- Q Assume that you are preparing a budget for your department or organization. Outline the steps you would take to prepare the budget, providing specific examples for each step. The following...
- Q A company uses the following standard costs to produce a single unit of output. Direct materials 6 pounds at $0.90 per pound = $...
- Q Gerry conversed his sole partnership to an S corporation and transferred several assets to the corporation. The assets cost $19,570 and had an adjusted basis of $9,600. He also spent...
- Q its a managerial accounting assignment :- A. You are given the following information related to ABC manufacturing company MonthBudgeted Sales March$200,000 April212,000 May204,000...
- Q The following computations of March labor variances for Sams Supply Company are incomplete. The missing items are labeled (a) through (d). Labor rate variance = 4,800 hours * [(a) ...
- Q Sage Co. provides the following information about its postretirement benefit plan for the year 2020. Service cost $98,200 Prior service cost amortization 3,300 Contribution to the plan 55,700 Actual and...
- Q Poppy Corporation owns 60 percent of Seed Companys common shares. Balance sheet data for the companies on December 31, 20X2, are as follows: Poppy Corporation Seed Company Assets Cash $...
- Q A newly issued bond pays its coupons once a year. Its coupon rate is 5.4%, its maturity is 15 years, and its yield to maturity is 8.4%. Required: a. Find...
- Q You had the following data extracted from the books and records of one of the industrial companies that produce and sell product (K), during the period ending June 30, 2015:...
- Q On July 1, 2021, Marigold Corp. issued 3200 of its 9%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2021 and mature on April 1,...
- Q On Jan 1, 2017, Company A's board of directors approved granting 4,000 stock options to a select group of senior employees. The requisite service period is four years with 25%...
- Q Your client, a start-up accrual basis taxpayer, has asked you to prepare its initial tax return. When examining its financial statements and audit work papers, you notice employee benefit accruals...
- Q Polytech Inc. calculated its Net Income for its Dec. 31st, 2019, year-end as follows: Revenues $1,000,000 Other income 100,000 A Expenses: Cost...
- Q Item Account Type Financial Statement Accounts Receivable Asset Balance Sheet Office Expense Cash Equipment Advertising Expense Sales Revenue Notes Payable Retained Earnings Accounts Payable Balance Sheet Office Expense Cash Equipment...
- Q Gail works 32 hours Monday through Thursday. On Friday, she is out with the flu and receives 8 hours' sick pay under the employer's policy. She returns to work for...
- Q In 2017, Elaine paid $2,320 of tuition and $1,300 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return...
- Q During 2010, Vanpelt Co. introduced a new line of machines that carry a three-year warranty against manufacturers defects. Based on industry experience, warranty costs are estimated at 2% of sales...
- Q On January 1, 20X1, Pepper purchased 80% interest in Salt for $800K. At the time of the purchase, Salts assets and liabilities were equal to book value except for Inventory,...
- Q Discuss the benefits and disadvantages of a National Sales Tax if it were to replace the federal income tax, social security, and medicare employment taxes and transfer taxes.
- Q Prepare the balance sheet of ABS-CBN based on the following financial data. Net Sales P 1,500,000 Total asset turnover 3.0 times Fixed asset turnover 8.0 times Account receivable turnover 20...
- Q The difference in net operating income between absorption costing and variable costing is due to the Blank______. Multiple choice question. format of the income statements ...
- Q November 15, 2017 Peavys Cleaning Service applies for credit to Big Sparkle Company. Since this is a brand new business and has...
- Q CUL DE LAS SIGUIENTES PERSONAS PUEDE CALIFICAR PARA UNA CUENTA DE AHORRO PARA LA SALUD (HSA)? FIONA TIENE SEGURO MDICO A TRAVS DEL MARKETPLACE. SU DEDUCIBLE ES DE $600....
- Q Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management has designed an...
- Q Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold 400 600 750 Total costs Variable costs $ 54,000...
- Q On January 1, 2022 Paper Industries bought a new printing press, which cost them $87,000. The new printing press will be useful for only 5 years, and will have...
- Q 1. W, a senior partner in an accounting firm, has a profit share of 40% and 30% interest in 20x7. During 20x7, W withdrew P160,000 against his capital but invested...
- Q Sells price per unit=$200 variable manufacturing costs per unit= $50 variable S&A costs per unit= $10 Fixed MOH= $50,000 Fixed S&A costs=$10,000 Units produced=5000 Units sold= 4000 Produce a full...
- Q 7 Dec31, 2020 the business found unrecorded and unpald salary and wages for $9,500. 35 The owing amount will be paid in next week. 8 Please also...
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