Accounting question and answers for July 02, 2023
- Q answer in 300 words When can the couporate veit corporations Act to make corporate debts? (10 Marks) be lifted under the directous liable for
- Q Exercise 19-17 (Algo) EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options [LO19-5, 19-6, 19-7, 19-8] On December 31,2023 , Berclair Incorporated had...
- Q Sonar lent $286,000 to John at 13.5% simple interest rate for 224 days. How much will Sonar receive as interest from John?
- Q 1. The company has a new chance to create a new production line. The license will cost $1000. If the conpany decide to do in Year 1, and pay the...
- Q Moranza Corporation, which has current earnings and profits (CE&P) of $10,000 and accumulated earnings and profits (AE&P) of $30,000, makes a $15,000 distribution to its sole shareholder, Justin, at the...
- Q Which one of the following statements is correct? (A)The liability of each stockholder is limited to the dollar amount of that stockholder's ownership interest. (B) Day-to-day decisions about corporate activity...
- Q The type of account and normal balance of Pety Cash is a(n) 1. revenue, credit 2. asset, debit 3. liability, credit 4. expense, debit
- Q Describe the different price strategies. Discuss when a firm would employ first, second, or third-degree price discrimination. Provide an example of a first degree, second degree, third degree, and...
- Q The cost of goods manufactured embodies a. the total manufacturing cost of goods completed during the current period. b. all partially completed units found in production at a...
- Q Review and comment on the following regulations: IAS (International Accounting Standards) 33, 36, 19 and 16 and IFRS (International Financial Reporting Standards) 1, 2, 5 and 8.
- Q On January 1, The Parts Store had a $400,000 inventory at cost. During the first quarter of the year, it purchased $1,540,000 of merchandise, returned $20,600, and paid freight charges...
- Q please help! Required information The Foundational 15 (Algo) [LO9-1, LO9-2, LO9-4, LO9-5, LO9-6] [The...
- Q A company makes 2 products: 750 units of LX1 and 600 units of LV2. Total Overhead Costs are $1,488,000. The company uses plantwide to allocate overhead costs based in Direct...
- Q How do we calculate the income tax value for bad debts in the above question. Note 5: Irrecoverable debts
- Q When an employee is moved to another position in the same class, or to a different class with substantially the same duties and salary this is called a: Multiple Choice...
- Q A company has two divisions: a merchandising division and a construction dividion. The merchandising division purchases and sells construction equipment. The construction division builds shopping centres. The company entered into...
- Q A company pays $5,400 for maintenance in the current period. Record the transaction
- Q ! Required information SB (Static) The Platter Valley factory of Bybee Industries... [The following information applies to the questions displayed below.] The Platter Valley...
- Q Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 Skip to question [The...
- Q On January 1, 2023, the Balmond Company began construction of a building to be used as its office headquarters. The building was completed on December 31, 2024. Expenditures on the...
- Q 1-2, 3) S 11-63. Allocate Service Department Costs: Direct and Step Methods State Financial Corp. has three service departments (Administration, Communications, and Facilities), and two production departments (Deposits...
- Q Sophia pays her rent quarterly in arrears and her year end is 31st December. During the year she has made payments as follows: 1st May (re quarter ending 30th Apr)...
- Q 7,000 1,500 (1) Record the four necessary closing entries on general journal. (Omit the "$" sign in your response.) Debit Credit 3 Date General Journal Dec. 31 ~...
- Q In most states, a limited liability company (LLC) is subject to the state income tax: a. As though it were a C...
- Q L1C1.01 When you have a workbook open and then click the File tab, what area displays
- Q View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Marigold, Inc. had net sales in 2025 of $1,502,900. At December 31,2025 ,...
- Q Which of the following errors would cause a trial balance to be out of balance? i) A payment of $148 to a creditor was posted as a debit to accounts...
- Q BO Inc set up a bookshop and an education consultancy business on January 01st 2019 a) On Jan1st, BO Inc put $65000 cash into a checking account for...
- Q On February 20th, a 5 month note for $9,540 was received by Lucky Company to settle an amount owing from a customer. It bears interest at the rate...
- Q Calvin purchased a 40% partnership interest for $53,000 in February 2020. His share of partnership income in 2020 was $32,000, in 2021 was $35,000, and in 2022 was...
- Q 10-5 again CHART OF ACCOUNTS Garcon Co. General Ledger ASSETS 110 Cash 111 Accounts Receivable 112...
- Q ????????stockisthenumberofsharesthatacorporation'scharterallowsittosell. Multiple choice question. Authorized Issued Outstanding
- Q Required information (The following information applies to the questions displayed below.) A payroll summary for...
- Q This assignment is self explainatory. This is a communications and softskills class and there is nothing other than this assignment to reference. I used a book called people skills for...
- Q answer the following question stock? The value of Stacker's stock is $ (Round to the nearest cent.)
- Q Required information [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired...
- Q Gomez is considering a $235,000 investment with the following net cash flows. Gomez requires a 12% return on its investments. (PV of $1, FV of $1, PVA of...
- Q How are the funds used which are provided by FUTA and SUTA? a. SUTA funds are used to pay the state and federal administrative expenses and FUTA funds are used...
- Q Pinto Products makes suspension components for a large car manufacturer. In its Assembly Department for the month of September, the following information regarding its suspension systems is available: ...
- Q nash corp purchased 3050 pounds of flour in preparation for making its biscuuits mix every package of mix is expected to use 5 pounds of flour with flour budgeted at...
- Q P9-61A: Solve a comprehensive budgeting problem. Cieck Manufacturing Is preparing its Master budget for the first quarter of the upcoming year the following data pertains Cieck Manufacturings operations: ...
- Q Which of the following is a reason for decentralizing? Multiple Choice a Training and motivating managers. b Generally, lower level managers have better and more current information on which to...
- Q Blowout Renaissance Fair The cost of admittance and dinner is $30 per person (Fixed Cost). Live music - $3,000 per night (Fixed Cost) Rent for building - $2,700 (Fixed...
- Q Instructions: Presented below are transactions and events that must be recorded by The City of Gasby, Massachusetts. Analyze each transaction and event to determine the applicable fund and prepare the...
- Q 1. I chose Accounting as a major because it is the language of business, and I knew to be successful at business, I had to know Accounting well. For what...
- Q B&L Landscapes, Inc. Mini Practice Part 3 Bill Graham and Larry Miller incorporated B&L Landscapes, Inc. on July 1, 2016. The business consists...
- Q Pluto Corporation owns 70 percent of Saturn Company's stock. On July 1, 20X4, Pluto sold a piece of equipment to Saturn for $56,350. Pluto had purchased this equipment on January...
- Q Problem #4 Ratios Mr. Low Life was considering buying stock in Its All Wonderful Corporation. To do so he computed several ratios as listed below: a) Current...
- Q Convers Corporation (calendar year-end) acquired the following assets during the current tax year: (ignore 179 expense and bonus depreciation for this problem): (Use MACRS Table 1, Table 2 and Table...
- Q On February 3, Snap Repair Service extended an offer of $166,000 for land that had been priced for sale at $189,000. On February 28, Snap Repair Service accepted the seller's...
- Q Suppose you had $100 in a savings account and the interest was 2% per year. After 5 years, how much do you think you would have in the account if...
- Q Diego Company manufactures one product that is sold for $73 per unit in two geographic regionsthe East and West regions. The following information pertains to the companys first year of...
- Q What are some examples of transactions that may have started during the period but have not finished by the end of the period?In other words, describe an adjusting journal...
- Q on october 1, 2023, eastern timber inc. has available for issue $860,000 bonds due in four years. interest at the rate of 6.00% is to be paid quarterly. calculate the...
- Q A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as...
- Q Sonja is considering the purchase and renovation of an old building. She has heard about the tax credit for rehabilitation expenditures, but does not know the specific rules applicable to...
- Q At the end of the X3 financial year, the groups investment in PA is found to have been impaired by R94 000. Based on this information, calculate the groups investment...
- Q 13. William is reviewing the accounting treatment of its buildings. The company uses the revaluation model' for its buildings. The buildings were purchased for...
- Q the opening case shows the challenge created by fake news and alternative facrs create for
- Q Problem 16-52 Net Present Value; Internal Rate of Return; Payback; Sensitivity Analysis; Taxes (Sections 2,3)(LO 16-3,16-4,16-6,16-8) The management of Tri-County Air Taxi, Inc., is considering the...
- Q P10-6A Record disposals Ceda Co. has equipment that cost $80,000 and that has been depreciated $50,000. Instructions Record the disposal under the following assumptions. It was scrapped as...
- Q 1. The chart of accounts is a) static b) not generally useful c) contains only permanent accounts d) dynamic
- Q [The following information applies to the questions displayed below.] Fitness Fanatics is a regional chain of health clubs. The managers...
- Q just need the last 2 Ovation Company has a single product called a Bit. The company normally produces and sells 40,800 Bits each year at a selling price...
- Q Natalia is a full-time exempt employee who earns $208,000 annually, paid monthly. Her year-to-date pay as of November 30 is $190,666.67. How much will be withheld from Natalia...
- Q Access the Accounting Standards Codification and determine the specific citation for each of the following items: 1. Depreciation involves a systematic and rational allocation of cost rather than a process...
- Q To claim head of household filing status, a taxpayer must
- Q Jam Pty Ltd has two cash generating units. CGU A had a carrying amount of $700 and value in use of $750. CGU B has a carrying amount of $900...
- Q Provide detailed arguments on Why the SEC should not adopt SASBFramework?
- Q Required: 1. Give the journal entries for these transactions, including the writooff of the uncollectible account and the adjusting entry for estimated bad debts. Do net-record-cost...
- Q Sharon, 70 and angle de dependent by her daughter. During 2021, Sharon had interest income of 52,350 and 50 of med income from babylig har en...
- Q provide the case summary of the case "Salomon V Salomon & Co Ltd. (1897)" Using the IRAC method. What was the significance of this case law in relation to the...
- Q To keep records of the...
- Q Profit centers are often evaluated using Multiple Choice Investment turnover. Income targets or budgets. Return on investment. Residual income.
- Q Blue Water Kayak began operations on January 1, 2019. The owner invested $16,000 during the first year and was able to withdraw cash of $51,000 after a successful first year....
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