Accounting question and answers for December 12, 2023
- Q Identify the critical questions to be asked in applying PFRS 9 to the measurement of financial assets.
- Q On January 1, 2020, Playtel Inc. acquired 75 percent of the stock of San Jose Cable for $200 million in cash. At the date of acquisition, the fair value of...
- Q Explain what the difference is, if any, between cost assignments and transfer prices?
- Q If NAR 29 =29% What is the present value to be received in 29.29 Years?
- Q What information should a CPA firm seek in its investigation of a prospective client?
- Q If anybody has read : Spikes Indoor Beach Volleyball And Rock Climbing Inc. I was wondering if you could tell me 1. Ratio analysis examining the current performance of the...
- Q 3) The Dennis Company reported net income of $66,000 on sales of $460,000. The company has average total assets of $740,000 and average total liabilities of $260,000. What is the...
- Q Sara Nade had 2021 capital asset transaction as noted below. For each asset disposition, determine the amount of her gain or loss for tax purposes. 1. In September Sara sold...
- Q A company's balance sheet shows: cash $60,000, accounts receivable $35,000, office equipment $69,000, and accounts payable $36,000. What is the amount of owner's equity? Multiple Choice $200,000. $36,000. $128,000. $48,000....
- Q The literature finds that small firms with high Tobins Q and those that are less profitable are more likely to use leasing. Referring to theories of capital structure explain if...
- Q Use FIFO do a production report with this information: Production data: units in process, July 1 (materials 100% complete; conversion 30% complete) 10,000 Units started into production 170,000...
- Q D loaned $250,000 to a small business corporation four years ago. By the end of the current year, it was established none of the loan would be repaid due to...
- Q A company reported total sales of $1,200,000 and $1,322,000 for the years 2010 and 2011 respectively. What is the year-over-year percentage increase in sales for 2011? A. 10.2% B. 9.2%...
- Q Bob who is not a dependent states he wishes to claim eitc this year
- Q Contribution Margin Willie Company sells 16,000 units at $48 per unit. Variable costs are $38.88 per unit, and fixed costs are $56,900. Determine (a) the contribution margin ratio, (b) the...
- Q Do you agree or not with the assertion that the activities of mobile money merchants should be regulated by the bank of Ghana, giving the definition of what a bank...
- Q Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next months budget appear below: Selling price per unit $ 25 Variable expense per...
- Q Which of the following wages are subject to Social Security and Medicare taxes? Compensation from the exercise of incentive stock options Qualified benefits under a cafeteria plan Cash wages...
- Q When do you have to use the acquisition method of accounting?
- Q What are the issues confronting FASB, SEC, and IASB in the standard-setting process for GAAP? Do you think these issues can be resolved? If so, what measures would you propose...
- Q In year 1 (the current year), LAA Inc. made a charitable donation of $124,500 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of...
- Q Benefits derived from budgeting include all of the following except: Question 22 options: Improved relationship with shareholders. Enhanced management responsibilities. Improved coordination of activities. Enhanced performance evaluations.
- Q Understanding the abilities and backgrounds of a companys CEO and CFO are a key part of investment analysis because: (a) They likely hold relationships with key customers and investors...
- Q Q1. 1Explain the effects of sales mix on profits (Appendix 2A). Q1.2Discuss how does managers use cost behavior and cost-volume-profit analysis. Q1.3What are the assumptions used for CVP analysis?
- Q 3. Which of the following can you use in applying Lower of Cost or Net Realizable Value to inventory? a. individual inventory items b. to logical categories of inventory c....
- Q The following transactions occurred during May for Hannah Pty ltd. May 1 Inventory on hand was 10 units at a cost of $5 per unit May 5 Purchased 15 units...
- Q Pepe, Incorporated acquired 60% of Devin Company on January 1, 2023. On that date Devin sold equipment to Pepe for $45,000. The equipment had a cost of $120,000 and accumulated...
- Q Jorge Dow turned 65 today. His grandfather established a trust fund that will pay Mr. Dow $85,000 on his next birthday. Unfortunately, Mr. Dow needs money today to start his...
- Q A process yields 60% of input as main product and 30% as by-product. 10,000 units were given as input at a cost of OMR 18,000. Other charges incurred are OMR...
- Q On January 1, Palisades, Inc., acquired 100 percent of Sherwood Companys common stock for a fair value of $120,280,000 in cash and stock. The carrying amounts of Sherwoods...
- Q On June 19, 2019, Tommy bought a Chevrolet Suburban (heavy SUV) for $68,700 to be used 60 percent in his business. What are Tommys options for writing off the cost...
- Q the amount of translation gain/loss (temporal method) that is calculated from the balance sheet, income statement, and retained earning statement is different from the amount of translation gain/loss that is...
- Q Which of the following is a characteristic of an assurance-type warranty, but not a service-type warranty? A) Warranty liability. B) Warranty expense. C) Unearned warranty revenue. D) Warranty revenue.
- Q K&T Company is a partnership with two equal partners, Kai and Taonga. The partnership has income for the year of $39,600 before guaranteed payments. Guaranteed payments of $23,760 are paid...
- Q Morgan Company issues 10%, 20-year bonds with a par value of $660,000 that pay interest semiannually. The current market rate is 9%. The amount paid to the bondholders for each...
- Q Under FOB destination, title to merchandise passes to the purchaser when: the sale is recorded merchandise is shipped to the purchaser merchandise is received...
- Q Arlington LLC exchanged land used in its business for some new land. Arlington originally purchased the land for $37,500. The new land had a fair market value of $39,750. Arlington...
- Q Assume that Juanita is indifferent between investing in a corporate bond that pays 10.20 percent interest and a stock with no growth potential that pays a 6 percent dividend yield....
- Q In general, in order for interest payments to be deductible they must be incurred for the purpose of earning ________. Choose the correct answer. A. employment income or...
- Q Hobby Shop Incorporated produces three different models with the following annual data (this is the base case) Plane Car Boat Total Selling price per unit 20 14 24 Variable cost...
- Q Dracut issued 100 000 of 8% 10 yr bonds payable on January 1 20x0 when the market interest rate was 10%. The company pays interest annually at year end. ...
- Q On July 1, 2021, Marvel Corporation purchased factory equipment for $ 68,000. Residual value was estimated at $ 4,000. The equipment will be depreciated over 8 years using double-declining balance...
- Q Writing assignments using an article recently published ( please provide the source cause it is the key of this assignment!! ). Your topic does not have to be restricted...
- Q what inventory costing method does pepsi and coca cola use
- Q The future value of a $10,000 annuity due deposited at 8 percent compounded annually foreach of the next 5 years is ________. $36,050 $63,359 $40,376 $71,152
- Q 1. The Fischer Company had a target ROI of 15% and reported the following: Net income of $8,760 Liabilities of $48,000 Assets of $61,000 Equity of $13,000 What is the...
- Q eBook Show Me How Question Content Area Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Jacinto Company issued...
- Q What is depreciation and what does it do to cash flow?
- Q Which field of accounting emphasizes relevancy over comparability?A. International accounting B. Responsibility accounting C. Financial accounting D. Cost accounting
- Q Consider your favorite restaurant. Your restaurant is a form of a manufacturing operation. The product they are manufacturing is food. Discuss/Categorize what your restaurant would consider a direct, an indirect,...
- Q Explain the role of prices in allocating scarce resources in a market economy. Discuss the view that that the use of maximum and minimum price controls only serve...
- Q kitchen Co. was formed on January 1st and was authorized $72,000 preferred stock, par value of $48.00 common stock with par value of $12.00 journalize the following transactions
- Q Mastery Problem: Process Cost Systems Grainy Goodness Company Grainy Goodness Company manufactures granola cereal by a series of three processes, beginning materials such as oats, sweeteners, and nuts being introduced...
- Q *Business Law* 1) What are the two ways a case can get to federal court? 2) What is venue?
- Q Which of the following items of expenditure would be examples of development activities under AASB 138? Group of answer choices The operation of a pilot plant that is not of...
- Q When accounting for a long-term leased asset that is not low value, which of the following statements is most correct according to the International Accounting Standards Board? The lessee should:...
- Q b) Create a Prolog predicate listForPath(X,Y,L) that succeeds if L is the list of edges constructing a path between node X and node Y. E.g., ?- listForPath(a,d,L). L =...
- Q Du ring 2023, Enrique had the following transactions: Salary $70,000 Interest income on Xerox bonds 2,000 Inheritance from uncle 40,000 Contribution to traditional IRA 5,500 Capital losses 2,500
- Q ABC Ltd. ha contratado Rs. 100,000 en servicios con el cliente de los cuales servicios por valor de Rs. Se facturaron 50 000, sin embargo, solo se entregaron 30 000...
- Q On December 31, 20--- Karmansky Company needed to record itsaccured wages for year-end. December 31 is a Tuesday and KarmanskyCompany must account for two days of wages. The company...
- Q Like the direction says, just choose one of the three options and answer it please. Thank you Budgets: You may choose to answer option A, B, or C; please indicate...
- Q Problem 13-23A Ratio analysis LO 13-2, 13-3, 13-4, 13-5 The following financial statements apply to Adams Company: Year 4 Year 3...
- Q May 1 - Issued Check No. 3410 to S&P Management Co. in payment of the May rent, $4,000. (Use two lines to record the transaction. Charge 80% of the rent...
- Q Case Study: Capital Accounting Capital accounting is a fundamental aspect of financial management that involves the recording, tracking, and reporting of a company's capital...
- Q Comparative consolidated financial statements for Pop and its 90%-owned subsidiary, Son Corporation, at and for the years ended December 31 are as follows: Pop and Son...
- Q Informations is on top , 2 questions needed to be answered Q: ...
- Q Analyzing Manufacturing Cost Accounts Clapton Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts refer to transactions that are summarized for May: ...
- Q Soprano Company is in the process of preparing the second quarter budget for 2022, and the following data have been assembled: The company sells a...
- Q Suppose the oil forward prices for 1 year, 2 years, and 3 years are $20, $21, and $22. The continuously compounded annualized 1-year effective annual interest rate is 6.0%, the...
- Q What is the history of accounting?
- Q Calculate the amount of property tax due: The tax rate is 30 mills The assessed value is $86,000 Find the amount of property tax due
- Q Please explain and elaborate on these. Thank you A company issues new shares of common stock in exchange for cash for an amount greater than par value. How does...
- Q True of False? A common size financial statement can inform you how well the company is doing over time
- Q If a company was to reduce long term liabilities it would Group of answer choices increase net profit margin Decrease assets Increase assets increase current liabilities
- Q Take me to the text Below is a list of accounts and balances for FlipFlop Inc. for the year ending August 31,2023. All balances are in...
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