Accounting question and answers for December 10, 2023
- Q Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. March 1, beginning inventory 100 units @ $51.00 per unit, March 5...
- Q What are the tax implications of different business structures (sole proprietorship, partnership, corporation)?
- Q Corparate governace, a.is a department withon canada revenue with a mandate to ensure all corporations file annual tax returns b. If effective should enhance stakeholders confidence that tge...
- Q In a piecemeal liquidation, assets are sold over time, and the business continues to operate on a decreasing scale. True False
- Q The malaysia division of a canadian telecommunications comonay uses standard costing for its machine paced proucdtion of telephone equipment. Data regarding proudction during june are as follows: ariable...
- Q Unfavorable Fixed Overhead Variance, write 3 to 5 causes, implications, effects, and/or changes you need to make with the budget.
- Q Is it true or false that a partnership cannot qualify as a small business corporation but a sole trader may(qualify)?
- Q In accordance with IRS requirements, an employee, such as a food server, who receives tips must report the tips received to his or her employer no less frequently than...
- Q Which of the following is an example of a promotion strategy that uses postpurchase communication? Group of answer choices A. A chartered accountant firm offering a 20 percent discount to...
- Q Please watch the movie Monsters, Inc. You are the attorney for the Monsters, Inc. corporation. You are likely horrified by the legal issues that arise for the business as the...
- Q Instructions Thomas Manufacturing produces a chemical pesticide and uses process costing. There are three processing departmentsMixing, Refining, and Packaging. On January 1, the Refining Department had 2,000 gallons of partially...
- Q On February 1, Year 1, Pat Weaver Inc. (PWI) issued 9%, $1,600,000 bonds for $1,900,000. PWI retired all of these bonds on January 1, Year 2, at 106. Unamortized bond...
- Q #6 Contribution Margin Ratio a. Young Company budgets sales of $860,000, fixed costs of $21,300, and variable costs of $94,600. What is the contribution margin ratio for Young...
- Q Peggy was offered a $25,000 severance package from her employer. She chose an alternative severance package under which the employer would provide $22,000 in cash and agree to...
- Q uppose Siam Traders had the following cash flow results for 2022: Net Cash Flow from Operating Activities of $6,300,000 Net Cash Flow from Investing Activities of $600,000 Net Cash Flow...
- Q he Illustrative Corporation recorded the following budgeted and actual information relating to fixed overhead costs for its ZLine of products: Standard fixed overhead per direct labor hour...
- Q An audit committee should be comprised of which group of people? a. external auditors b. operating executives ...
- Q A hotel has 30 single and 130 double rooms. On Saturday 15 July, 256 customers stayed overnight at the hotel, with 85% room occupancy, and on Sunday 16 July, 144...
- Q During the year, X Company produced and sold 67,100 units of one of its products. The following is the related revenue and cost information: Revenue $1,274,900 ...
- Q Prime costs consist of direct materials costs and direct labor costs. Group startsTrue or False
- Q Doors Inc.s condensed income statement and balance sheet for the years 2022 and 2021 follow. Accounts Receivable increased 40 percent from 2021 to 2022. There were no new...
- Q Problem 2: The following information pertains to Swift Company in 2019: April 1: Wrote off the account of the account of K. Perry, $820. June 1: Unexpectedly received a check...
- Q konkovsky had no share transactions in 2014 and, thus, the change in shareholders' equity for 2014 was due to net income and dividends. If dividends were $53,000, how much was...
- Q Which of the following statement is not typical of property, plant and equipment as compared to most current asset accounts? 1) A property, plant and equipment cutoff error near year-end...
- Q which one of the following regarding the book value of an asset is correct? 1it is the fair value of the asset is sold. 2it reflects the original cost of...
- Q Classify each item as an Asset, a Liability, or a Change to Stockholders' Equity. Asset Liability Change to Stockholders' Equity Salaries Expense Cash...
- Q Noel Company leases 25 cell phones for three years. The rent for the phones is $1,700 a month for 36 months ($61,200 in total). The fair value...
- Q Corporate officers are a. appointed by management. b. appointed by the board of directors. c. elected by stockholders. ...
- Q adjusting entries that should be reversed include those for prepaid or unearned items
- Q Which of the following is not a likely step to furthering convergence of FASBNIFRSFASB adopting an existing IAS standard to IAB adopting an existing FASB standard three FASB and...
- Q Which one of the following is classified as a current asset? Group of answer choices Notes payable Patent Office furniture Accounts payable Inventory
- Q You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the companys costing...
- Q What is sale tax holiday? Is this benefits for whom? What is it advantage or disadvantage? Explain me.
- Q Ellen sells cosmetics as a self-employed person. If her net earnings from self-employment are at least $____, she must file an income tax return. a....
- Q REQUIRED Use the information provided below to calculate the following independently: INFORMATION Caprice Limited plans to start Project Midas and the following are the forecasts for 2024: -Sales 50 000...
- Q What are the two basic categories of adjusting entries?
- Q Use Constant -Margin Percentage NRV Method to allocate Joint cost to each product (use Table) The company has the following information: Total Final Sale...
- Q Which of the following are reported as shareholders' equity in a classified balance sheet?
- Q The following is a Statement of Financial Position for June 30, 2020 ?and comparatives as of June 30, 2019.Petrex Ltd.Statement of Financial PositionAs at June 30, 202020202019ASSETSCash$130,000$119,000Accounts Receivable152,000109,000Interest Receivable10,6009,700Inventory68,00043,000Prepaid Expenses9,7006,900Land210,000170,000Plant and Equipment45,40055,400Less: Accumulated Depreciation - ?Plant and Equipment13,0009,000TOTAL ASSETS$612,700$504,000LIABILITIESAccounts...
- Q E5.19 (107) Di bawah ini adalah serangkaian bagian harga pokok penjualan untuk perusahaan Alpha, Beta, Chi, dan Decca. Alpha Beta Chi Decca Persediaan awal € 165 € 70 €1.000 €...
- Q What are the various factors to be considered in multi plant location ?
- Q In 2023, Deonte (single) had $510,000 of total taxable income. His taxable income is comprised of $480,000 of ordinary income and $30,000 of net long-term capital gain. What is Deontes...
- Q Diana earned a $104,500 salary for the year.Diana borrowed $13,700 from DI to purchase a car. DI charged her 2 percent interest ($274) on the loan, which Diana paid on...
- Q Jon Fries (CEO), Fletcher Anderson (COO), Craig Schuster (CFO), and Catherine Sprauer (division controller) were the four central figures in this case.1. Identify the key responsibilities associated with the professional...
- Q Are expense accounts increased by credits?
- Q Answer each of the following questions and explain where in the statements, notes, or other sections of the annual report you located the information used in your answer. ...
- Q Ramona and Hermione formed Wiley Corporation on January 2. Ramona contributed cash of $220,000 in return for 50 percent of the corporation's stock. Hermione contributed a...
- Q Reporting Operations in October of the Company approved a to the considered a component of the business The on of the The of for year ended to an...
- Q Hi can you help me with this? Draw an ER Model using Visio for the following. Make sure you assign appropriate attributes for entities/tables, including the Primary Key (PK) and...
- Q The information on the following page was obtained from the records of Breanna Incorporated: Accounts receivable $ 10,400 Accumulated depreciation 50,900 Cost of goods...
- Q Ramses II Industries manufactures the Sphinx-Multiplayer gaming system. The System is a multiplayer gaming device allowing players to compete with each other over the Internet. The Sphinx-gaming System includes the...
- Q A Limited has a 25% interest in B Limited and has significant influence over B Limited. A Limited sold inventory to B Limited at a profit. At year end B...
- Q Supreme Videos, Incorporated, produces short musical videos for sale to retail outlets. The companys balance sheet accounts as of January 1 are given below. Supreme...
- Q A cost driver is Blank______. Multiple choice question. a factor that causes overhead costs to occur something you want to know the cost...
- Q 1 The government of the republic of Zambia established game management authorities in all game parks to do so many things among them were; sensitise the people living in such...
- Q The four major functions of a business include manufacturing/production, sales/marketing, finance/accounting, and_________________.
- Q A certain department produced 16,000 units of a product that had a standard materials cost of two pounds at $1.60 per pound and a standard labor cost of two hours...
- Q Oriole Company is considering a capital investment of $186,200 in additional productive facilities. The new machinery is expected to have a useful life of 5 years with no salvage value....
- Q In Lake Company's suit against Marina Inc., the jury returns a verdict in the plaintiff's favor. The defendant files a motion stating that even if the evidence is viewed...
- Q The ESA/ESO Astronomy Exercise Series 2 The Distance to M100 as Determined by Cepheid Variable Stars Astronomy is an accessible and visual science, making it ideal for educational...
- Q On December 17,2023, ABC Corp granted 20,000 to its employee Amy. No other options were granted that year. The exercise price was $10. The fair market value of...
- Q 1. Keston Cookies estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 25%....
- Q Which of the following financial statements shows the revenues and expenses of a bank over a set period of time? Group of answer choices The Funds-Flow Statement...
- Q Wallys Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012. WWC prepares adjusting entries and financial statements at the end...
- Q Contributory negligence Answer for prompt 1 Contributory negligence Prompt 2Assumption of risk Answer for prompt 2 Assumption of risk results when the plaintiff...
- Q Better buy inc has 7 units in inventory on dec 31. The units were purchased in nov for 160 each Thr price lists frim the suppliers indicate that...
- Q $ millions Apple Google Current Year Prior Year Current Year Prior Year Net income $ 55,256 $ 59,531 $ 34,343 $ 30,736 Net sales 260,174265,595161,857136,819 ...
- Q Property tax billed but not collected by the end of the fiscal period or within 60 days following the end of the fiscal period should be ...
- Q Exercise 9-20(Algorithmic)(LO.5) In 2024, Robert takes four key clients and their spouses out to dinner at a local restaurant. Business discussions occurred over dinner; drinks,...
- Q The portion of whole units that were completed with respect to either materials or conversion costs within a given accounting period is the definition of
- Q Becketts works on a cross-cultural team. According to maslow's hierarchy of needs theory, which of the following needs must be met before Beckett feels a sense of connection...
- Q Record Santa Fe Retailing's purchase of merchandise as is (with no returns) from Mesa Wholesalers with credit terms of 3/10, n/60 and an invoice price of $25,600
- Q Kimbo Corporation sold 500 widgets during 2020 at a total price of $1.4M, with a warranty guarantee that the widgets were free from any defects. The cost of the widgets...
- Q Adam, Beth, Clayton and David are forming a bakery business, called ABCD Corp, and decided to organize as a corporation. Adam Beth and Clayton will each own 300 shares of...
- Q Dividends are reported on the: income statement. balance sheet. statement of retained earnings. income statement and balance sheet.
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