Accounting question and answers for December 08, 2023
- Q controls that rely on segregation of duties may be circumvented by _____ among employees.
- Q The bank uses the signature card to verify the authenticity of the signature on all checks true or false?
- Q Chelm Music Corporation manufactures violins, violas, cellos, and fiddles and uses a job-order costing system. What account should Chelm debit when the production manager...
- Q John Snow earns $63,000 annual income and pays 20% in state and federal income tax. If tax rates increase to 25%, how much additional income must he earn...
- Q A calendar-year-end company that accepts a 3-month interest-bearing note on December 1 must accrue revenue on December 31.(Enter only one word.) ...
- Q Review of the submission process of the financial reports to Gauteng Provincial Treasury ( GPT ) revealed, that Health Facility Revitalisation Grant financial performance reports and Expanded Public...
- Q Jones Company purchased 100% of the outstanding stock of Kent, Inc., on January 1,2024, for a purchase price of $1,400,000. At the acquisition date, Kent's book value...
- Q The alternative straight-line method of depreciation is mandatory when ___________. The 200%
- Q Father rents Property to Daughter for $1,000 per month. The fair market value for renting Property on the open market is $2,000 per month. At the end of...
- Q Patricia was evaluating the profitability of her bike shop, which sells bicycles, skateboards, and frisbee golf items. Since the frisbee golf segment was new, she wasn't surprised to...
- Q Gianni Forest Assets $222,000 $387,000 Liabilities 7,000 Equity 147,000
- Q Rayburn Corporation (a C corporation) has a building that it bought during year 0 for $850,000. It sold the building in year 5. During the time it held...
- Q the primary objective of a cpas observation of a clients physical inventory count is to
- Q 5 . What is the sensitivity to sales in both units and % ? 6 . What are the drawbacks of using the...
- Q Steps for closing entries on an adjusted trial balance
- Q In March of Year2, Morton contributed the following two properties, which he acquired in February of Year1, to Athens Corporation in exchange for additional Athens stock: (1) land...
- Q Depletion expense Question 5 options: A) excludes restoration costs from the depletion base. B) excludes intangible development...
- Q You must have an EIN to use as a taxpayer identification number if you do any of the following except: Pay wages to one or more employees ...
- Q ABC is paying its employees for the work they have done during September, 2022.Each employee is paid $5,000 per month and ABC has eight (8) employees. The federal...
- Q Using the pruned tree, classify each customer in the validation sample as leave or stay(if the probability of leave is greater than0.5, classify the customer as leave). Calculate...
- Q Do you think the us should adopy ifrs
- Q The todd stuart living trust is a nongrantor trust that was vreated upon death of todd stuat shorty after its creation the trust sold todd 's main home...
- Q The method that assigns support department costs by giving full recognition to support department interactions is known as a. the sequential method. b. the proportional...
- Q Which of the following represents economic benefits to a taxpayer? Multiple select question. Interest income on investments Cash received for completing a job A computer...
- Q What is a network based on Web technologies that allows selected outsiders, such as business partners and consumers, to access authorized resources of a companys intranet? A. Transaction...
- Q True/False: The adjustment for accrued fees was debited to Accounts Payable instead of Accounts Receivable. This error will be detected when the adjusted trial balance is prepared. ...
- Q achenson corporation which applies manufactoring overhead on the basis of machine hours
- Q On January 1 of the current year, Points Incorporated acquired a $100,000 bond originally issued by its subsidiary. The bond, which pays $9,000 interest every December 31, was...
- Q Cost-volume profit is used to analyze_______. Question content area bottom Part 1 A. the behaviour of some costs and...
- Q Formation of a Partnership and Treatment of Liabilities. Bonnie, Carlos, and Dale form the BCD Partnership as equal partners. Bonnie contributes land and a building having a $50,000...
- Q Compute cash dlows from financing activities Cash received from long term notes puable 20000 purchase of investments 5000 Cash dividends paid 16000 ...
- Q Which of the following should be included as a part of inventory costs of a manufacturing company? Multiple Choice Direct Labor: Yes, Raw Materials: Yes, Factory...
- Q This year, Mr. and Mrs. Cullen paid $93,000 interest on a mortgage incurred in 2008 to build their home in Forks, Washington. The average principal balance of the...
- Q which of the following is an example of taxable alimony?
- Q which one of follwing occurs kn process cost system
- Q Judging a practice by the independent moral standard of whether the practice promotes or hinderfs the welfare
- Q Depreciation should be discontinued when an asset has been Question 3 options: A) taken out of service. B) ...
- Q What is the objective of ASU No.2021-10 regarding receipt of governmental assistance? F15
- Q Which of the following items appear on the corporate income statement before income from continuing operations? a. presentation of earnings per share b. cumulative...
- Q For a privately held client, auditors may decide to perform some tests of control
- Q The Good-Crack Company (GCC) Inc., a baseball products manufacturer, recently hired you as a management accountant in its Bat division. GCCs Bat division produces two products,...
- Q Samsung has two operatinguser departments, Gen 4 & Gen 5. The two support departments are Information Technology (IT) & Product Development (PD). The costs incurred in each of...
- Q 2. Which of the following statements is true about process costing? a. It has elements of both job order costing and prime costing. ...
- Q The Magicians Wand Company is being sued by a magician for selling him a faulty wand that caused the wizard defamation and personal brand damage. The maximum amount...
- Q Single Filers Taxable Income Tax $0$11,00010% of taxable income $11,001$44,725 $1,100 plus 12% of excess over $11,000 $44,726$95,375 $5,147 plus...
- Q A company issues a credit memorandum to a customer for returned merchandise. The merchandise was originally sold for $200 plus a sales tax of 5%. What is the...
- Q Item Cost 1. The cost of a hard drive installed in a computer. 2. The cost of advertising in the Puget Sound Computer User newspaper....
- Q from quickbooks online, where can you search for apps by specailty or business process
- Q Dec 1st Paid December rent of $2,150 with check #801.
- Q Working capital is equal to: Multiple Choice Current assets. Current assets plus current liabilities. Current assets minus current liabilities. Current...
- Q Maurizio manufactures famous Italian pastries. Assume the company had no beginning or ending work-in-process balances. Production (units)25 Direct materials $ 250...
- Q Answer the following questions using the information below: Fey Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and...
- Q If a company records a transaction before the bank records the same transaction, this is called a/an Blank______ difference. Multiple choice question. reconciliation ...
- Q ndicate whether each of the following is true or false. a. Amortization expense is a noncash expense similar to depreciation, except it applies to intangible assets. ...
- Q Recorded purchases of inventory affect: Group of answer choices only the income statement. only the balance sheet. both the balance sheet and the income statement....
- Q For the basic accounting equation to stay in balance, each transaction recorded must Question 8Select one: a. affect two or fewer accounts. ...
- Q A is used to accumulate all of the direct materials and direct labor used on the job, as well as the manufacturing overhead allocated to the job. A....
- Q At the end of the construction year for his business. Ian's uncle Richard is having trouble dealing with the company's indirect costs as there are just so many...
- Q When an auditor of financial statements has substantial doubt about an entity's ability to continue as a going concern, the auditor most likely would express a qualified...
- Q Cullumber cupcake is considering the purchase of a new machine for its bakery. It can purchase thenew machine at a cost of $115000. For the existing macine, last...
- Q in the question aoci is 45000 so how 84000
- Q A favorable cost variance of significant magnitudeIs likely the result of exceptional planning. May lead to future improvements in production. Is strong evidence of excellent...
- Q A company employs three accounts payable clerks and one treasurer. Their responsibilities are as follows: EmployeeResponsibilitya. Clerk 1Reviews vendor invoices for proper signature approval.b. Clerk 2Enters vendor...
- Q Audit documentation and financial statements, including footnotes, are reviewed by a partner who did not participate on the audit
- Q Josie is an accounting supervisor at Monk & Sons Realty. She instructs her subordinate, Maria, to make certain accounting entries in the company's books that will increase revenue...
- Q Which assertion would not be appropriate for vouching transactions in the sales journal? a) accuracy b) Occurrence c) completeness ...
- Q Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 270,000 Beginning merchandise inventory $ 18,000...
- Q at an activity level of 9,100 machine hours in a month Curt Corporations total variable production engineering cost is 765,310
- Q Xbrl assurance is needed to ensure which?The Xbrl coding uses the most current xmlThe most current standardized Xbrl taxonomy is used OrThe fjnaixks statements are free of material misstatements...
- Q When a customer retains defective goods at a reduced price, the reduction is called a sales discount. sales return. sales allowance. trade discount.
- Q Toy Company is a wholly owned subsidiary of Parks Company. On January 1 of the current year, Toy Company has $100,000 of 8% bonds outstanding that were issued...
- Q The break-even point is attained when the contribution margin is greater______ the fixed expenses. true or false
- Q The GulfInco Company makes three products in one manufacturing facility. Data regarding these products are as follows: A B C Direct materials $6.70 $6.30 $8.20 ...
- Q allison will pay how much tax on her qualified dividends and capital gains? 1.$0,2. $50,3. $67,4. $94
- Q A volume-based rate is an appropriate overhead application base when:
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