Accounting question and answers for December 13, 2023
- Q An agent consumes quantity (x 1 , x 2 ) of goods 1 and 2. She has utility u(x 1 , x 2 ) = x 1 a x 2...
- Q Tracie Corporation, kadn etekleri retir ve satar. Her etek (birim) 2,2 yarda kuma gerektirir. Gelecek aylk dnem iin Tracie'nin ana btesinden seilen veriler aada gsterilmektedir: Temmuz Austos Eyll Btelenmi...
- Q 3. Which of the following is not a measurement attribute defined in the FASBs conceptual framework? A. Net realizable value B. Historical cost C. List price D. Fair value...
- Q Toga Corporation reported profit of $50,000 for the year. During the year, trade receivables increased by $8,000, trade payables decreased by $4,000 and depreciation expense of $6,000 was recorded. Net...
- Q To have an effective antifraud culture, an entity should have policies and procedures that do what?
- Q What is meant by right of return? Bill and hold? )Describe the accounting when there is a right of returnWhen goods are sold on a bill-and-hold basis? what conditions must...
- Q Give an example of an adjusting journal entry for each of the following transactions. Provide three correct responses: Equal growth of an expense and a liability: Earning of revenue that...
- Q Can allowance (for parents) be taxed in Australia?
- Q On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 27,000, $18 par, common shares. The market price of the common stock is...
- Q Jan 31. Purchased 75 $1000 government bonds St 100 plus 30 days accrued interest. The bonds pay 6% annual interest on July 1 and January 1 ?July 1. Received semiannual...
- Q The following information is from the manufacturing budget and the budgeted financial statements of Schenck Development Partners: Direct materials inventory, January 1 Direct materials inventory, December 31 Direct material usage...
- Q Allard, Inc., presented two years of data for its Frozen Foods Division and its Canned Foods Division. Frozen Foods Division: Year 1 Year 2 Sales $35,200,000 $38,400,000 Operating income 1,380,000...
- Q Un contribuyente incluye $150 en intereses acumulados en su declaracin federal de un bono del Tesoro emitido por el gobierno de EE. UU. Cunto es gravable para el Estado? ...
- Q Boyer Corp. has outstanding borrowings. One of these borrowings is nonconvertible preferred stock (cumulative) with a par value of $75 and an annual dividend rate of 8.25%. This preferred stock...
- Q Bonnie receives salary income of $30,000, unemployment compensation of $5,400, and dividend income of $1,000 and a gift of $7,000 in cash from her aunt. Assume the tax year is...
- Q Lead Inc makes pencils for $0.10 each. Production costs $0.03 for each pencil, $0.2 of fixed manufacturing and $0.1 of variable manufacturing. The company produces 1,000,000 pencils. What will the...
- Q Client, a cash method taxpayer owns a rental building that client acquired four years ago and depreciated using the straight-line method. It currently has an adjusted basis of $200, 000...
- Q The general formula to allocate cost is: a. estimated overhead cost divided by cost pool b. cost pool divided by estimated overhead pool c. cost to be allocated divided by...
- Q Management tends to focus on residual risk instead of inherent risk. Why do you think this is so? Why should internal auditors consider both inherent risk and residual risk when...
- Q Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed...
- Q Compare and contrast Capitalism and Socialism as viable economic justice systems.
- Q A car is purchased for $8000 and is run the same distance each year. Annual costs are $1000. The trade-in value is $3900 at the end of the first year,...
- Q Journal entry: Issued a cheque to an assistant for 20 hours worked in June. The assistant earns $12 an hour
- Q Cane Company manufactures two products called Alpha and Beta that sell for $195 and $150, respectively. Each product uses only one type of raw material that costs $5 per pound....
- Q There are 10 bonds, each one with par value of $100, 4% semiannual coupons and redemption value of $120. The bonds are purchased for $106 each. One bond will mature...
- Q Use the present value tables in Appendix A and Appendix B to compute the NPV of each of the following cash inflow: $30,750 received annually at the end of...
- Q Explain the concept of operating leverage in managerial accounting. What importance does it have in strategic decisions? Provide a specific, real-world example and cite sources.
- Q Ned tiene un ingreso bruto ajustado modificado activo antes de prdidas pasivas de 160000 . Tiene una prdida de $ 15000 en una propiedad de alquiler que administra activamente. Cunto...
- Q Riley Company borrowed $38,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carried a one year term and a 6% annual interest...
- Q On March 15, Silver Co. issued a $80,000, 5%, 90-day note payable to Gold Co. How much will Silver Co. have to pay at maturity? (Assume 360 days in a...
- Q David bir ekerci dkkan at. Ylda 30.000 dolara bir bina kiralad. Faaliyetinin ilk ylnda alanlarna 40.000 $, kamu hizmetleri iin 10.000 $ ve dier firmalardan satn ald mallar iin 20.000...
- Q si los activos de un negocio aumentaron 89,000 durante un perodo de tiempo y sus pasivos aumentaron 67,000 durante el mismo perodo, la participacin en el negocio debe tener
- Q Maliyet tahsisinin drt amac nedir? Hizmet departmanlarnn deiken maliyetlerini tahsis etmek iin neden fiili maliyet oranlar yerine btelenmi maliyet oranlar kullanlmaldr?
- Q Garcia Corporation'n Nisan sat tahmini, 6.300 birimin birim bana 10.80$'dan satlacan ngryor. stenen biti envanteri, 1.300 adet olan balang envanterinden %10 daha yksektir. Nisan aynda btelenen birim satn almlar yle...
- Q Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate...
- Q Which of the following statements is true regarding an engagement to apply agreed-upon procedures to the prospective financial statements? a.Engagements can be used for forecasts but not projections b.Professional...
- Q What is the authoritative literature addressing revenue recognition when right of return exists?
- Q Explain professional skepticism audit firms
- Q A factory provides you information about overheads for given period. Budgeted output 25,000 units, budgeted hours 4,000, budgeted fixed overhead OMR 10,000 and budgeted variable overhead OMR 6,000. Actual output...
- Q Brief Exercise 5-08 Explain where each of the following items would appear on a multiple-step income statement. Item Section Gain on disposal of plant assets select a section name Cost...
- Q A firm has $157 in inventory, $5,303 in fixed assets, $204 in accounts receivables, $375 in accounts payable, 351 in short-term debt, and $339 in cash. What is the amount...
- Q Based on predicted production of 25,900 units, a company budgets $380,000 of fixed costs and $492,100 of variable costs. If the company actually produces 19,500 units, what are the flexible...
- Q Martin Company purchases a machine at the beginning of the year at a cost of $73,000. The machine is depreciated using the straight-line method. The machines useful life is estimated...
- Q If capital has been credited, it is likely that A) Services were provided to a cash customer B) Services were provided to a charge customer C) The owner made...
- Q Victor Industries initiated the process of setting standards for the forthcoming period. The standard production cost of one of their products, V50, is determined as OMR 250. Administration, selling and...
- Q Qu efecto tendr la omisin de un asiento de ajuste por la depreciacin de equipos en los estados financieros? Seleccione uno: a. Los activos estarn sobrevalorados en...
- Q Q/ A and B form general partnership AB, A contributes real property with a FMV of $100,000 subject to a recourse mortgage of $60,000 in exchange for an 80% interest...
- Q Assume that Toyota Motor Company was consistently profitable and, hence, paying federal income taxes. Assuming a corporate income tax rate of 40%. How much did Toyota save on federal...
- Q The following account balances appear in the 2024 adjusted trial balance of Cardinal Corporation: Common Stock, $18,000; Retained Earnings, $6,800; Dividends, $500; Service Revenue, $24,400; Salaries Expense, $14,800; and Rent...
- Q If sales are $1,073,500 in 2025 and this represents a 13% increase over sales in 2024, what were sales in 2024
- Q Un departamento ha presupuestado un costo indirecto de fabricacin mensual de $600 000 ms $3 por hora de mano de obra directa. Si un informe de presupuesto flexible refleja $1134000...
- Q Which of the following is NOT a characteristic of a non-compensatory employee stock option plan (ESOP)? a. The plan requires the employee to pay an upfront premium. b. There is...
- Q You are given the following information: sales, $310; expenses other than depreciation, $190; depreciation expense, $100; marginal income tax rate, 33%. Calculate the net after-tax cash flow effect of the...
- Q Matthew plans to leave his life insurance and his home to his second wife, Kate, and his RRSPs to his married adult children from his first marriage. When Matthew dies:...
- Q 1. Thomlin Company forecasts that total overhead for the current year will be $14,196,000 with 169,000 total machine hours. Year to date, the actual overhead is $7,310,000, and the actual...
- Q 9781453399262
- Q Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production...
- Q The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2017: ...
- Q Cushenberry Corporation had the following transactions. 1. Sold land (cost $8,400) for $10,500. 2. Issued common stock at par for $22,200. 3. Recorded depreciation on buildings for $12,200. 4. Paid...
- Q A machine which cost $300,000 is acquired on October 1, 2014. Its estimated salvage value is $30,000 and its expected life is eight years. a. Calculate depreciation expense for 2014...
- Q Cada uno de estos estudiantes debe presentar una declaracin de impuestos federales de 2019. Qu estudiante NO es potencialmente elegible para recibir el crdito de aprendizaje de por vida. ...
- Q The Gilster Company, a machine tooling firm, has several plants. One plant, located in St. Falls, Minnesota, uses a job order costing system for its batch production processes. The St....
- Q Calculate the inventory turnover ratio (Cost of Sales Ending Inventory) if company had been using the FIFO method of inventory valuation. December...
- Q Requiring a manager to sign off on purchases of $100 or more is an example of: A. restricted access. B. proper authorization. C. an audit trail. D. internal control limitations
- Q what are the advantage and disadvantages of evaluating the balance sheet
- Q Managers use ratio analysis for different purposes. explain the total asset turnover ratio and how it is calculated, classify the ratio by its purpose and discuss the challenges when interpreting...
- Q La Bamba Bakeries (LBB) traces their history back to the early 1990s, when Richardo La Bamba started selling homemade tortillas, sweet buns, muffins, and bagels mostly to Mexican immigrants in...
- Q Happy Days Restaurant has determined the following amounts related to costs of menu items. Per Meal Total Direct Materials $4.70 ...
- Q Cul de los siguientes no sera considerado un trabajo? Explicar Un compromiso de auditora Una renovacin del hogar Un pedido de comida rpida Una demanda...
- Q What are the three bracket of control in consolidation and what special accounting considerations are expected for each of the brackets of control
- Q what is SBE? why would an individual like a lawyer claim SBE if their expenses are related to their partnership? what benefit do you get to take SBE at a...
- Q Los siguientes datos pertenecen al Departamento Y de Abraham Company: Inventario inicial de WIP: 6000 unidades: 40 % completo en cuanto a mano de obra y gastos generales Terminado y...
- Q How is excess depreciation on Section 1250 property calculated? Annual straight-line depreciation times the number of years the property was owned and used in business. Total depreciation claimed over...
- Q Larkspur Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken. Corporate records disclose the following. ...
- Q In the production cost report, the total a. physical units accounted for equals the units to be accounted for. b. costs accounted for equals the costs...
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