Accounting question and answers for July 05, 2023
- Q Bentley Enterprisesuses process costing to control costs in the manufacture of DustSensors for the mining industry. The following information pertainsto operations for November. (CMA Exam adapted)UnitsWork in process,November 1st17,500Started inproduction...
- Q Do you think Fraud Examiners should have higher level accountingskills beyond the basic skills? Should Fraud Examiners have anyadditional qualification not currently required (ex. specifictechnology skills, psychology, etc)? Be sure...
- Q Why is it important for managers to understand costbehavior?
- Q Identify basic cost behavior patterns and explain howchanges in activity level affect total cost and unitcost?
- Q White Company has two departments, Cutting and Finishing. Thecompany uses a job-order costing system and computes apredetermined overhead rate in each department. The CuttingDepartment bases its rate on machine-hours, and...
- Q Answer the following parts for question 1:a) Do all businesses have a supply chain yes/nob) Are all parts of the supply chain for a business within thatsame business yes/noc) Does...
- Q Please show your work.Liquidity Performance Analysis1. Do a Cahs Flow Liquidity Analysis.Analyze Trends in cash flow from operationsfrom the indirect cash flow statement, Changes inthe cash balance, Changes in the...
- Q On January 1, 2016, Emily Tax Services issued $200,000, 9%,four-year bonds. Interest is paid semiannually on June 30 andDecember 31. The bonds were issued when the market rate was 8%.Required:5.Find...
- Q On April 15, 2021, fire damaged the office and warehouse ofSunland Corporation. The only accounting record saved was thegeneral ledger, from which the balance sheet data below wasprepared.SUNLAND CORPORATIONMARCH 31,...
- Q Question: Business Law (Topic Consideration)1.) In the landmark case, Hamer v. Sidway, what werethe promises exchanged between the uncle and the nephew? Did thenephew live up to his promise? If...
- Q home / study / business / accounting / accounting questions andanswers / fill out schedule d for the inoformation below act405 –portfolio project case 1 comprehensive ...Your question has been...
- Q Question 4 [16 marks]Revaluation of property, plant andequipmentYou are the accountant for Superstar Ltd, and you are requiredto account for the company’s equipment for the years ended 30 June2017 and...
- Q Shane’s Garden Tools & Accessories is a wholesale supplierof garden tools and also has a small shopfront that sells householdornaments. Jane Helm has been the bookkeeper for over ten years,and...
- Q Consider the following alternative projects in the table below.Each project would last for five years.1) Findthe NPV for each project at a 10% discount rate.2) Findthe profitability index for each...
- Q Identify major procedures in the manufacturing cycle of abusiness
- Q QUESTION 4 Regression AnalysisGuide to marks: 20 marks – 5 for a, 10 for b, 3 for c, 2 fordBelinda, the accountant at Murray Manufacturing Company wants toidentify cost drivers...
- Q Prepare a report for the management of Tesla Motors whichcritically examines how the adoption of a Balanced Scorecardapproach could be used to measure the performance of theorganisation
- Q Blank Corporation acquired 100 percent of Faith Corporation’scommon stock on December 31, 20X2, for $190,000. Data from thebalance sheets of the two companies included the following amountsas of the date...
- Q Below are three unrelated scenarios:a) Jeremy Waru, an audit partner, provides inaccurate advice toa client on their reporting requirements because he is not up todate with recent changes to accounting...
- Q Don Kim is a partner with a small firm which offers accountingand assurance services. He receives a call one day from Jane Small,his sister-in-law to ask if he would help...
- Q Discuss key aspects on how data analytics and big data (BDA) aretransforming audit.
- Q You are a manager working in the Technical Department of GPKM, alarge partnership which offers audit and other financial services.Jade Frances has been referred to you, as she requires adviceregarding...
- Q A partnership has liquidated all assets but still reports thefollowing account balances:Beck, loan$6,000Cisneros, capital (40%)3,900Beck, capital (20%)(12,300)(deficit)Sadak, capital (10%)(8,300)(deficit)Emerson, capital (20%)15,000Page, capital (10%)(6,300)(deficit)The partners split profits and losses as follows:...
- Q Harry, aged 52, has two children, aged18 and 16 respectively. His wife died of cancer last year. Hisannual salary is HK$800,000 as a Senior Manager in a bank. He hasan...
- Q Stoney Run Construction Company (U.S. GAAP) enters into a 3-yearcontract to build a new warehouse facility. Information for Years1, 2, and 3 is shown below:Year 1Year 2Year 3Sale price$2,800,000$2,800,000$2,800,000Estimated costs1,600,0002,000,0002,000,000Costs...
- Q Sam Walton and John Walton are two brothers who runtheir father’s 20-year-old business “Walton BrothersAuto Solutions”. They have two divisions in their business. Samlooks after the workshop, where they servicenew...
- Q 1) assess the role of Chief Executive Officer of Facebook inrelationship to the performance of the stock within the first yearof the initial public offering. 2) Suggesting what the person...
- Q S&L Financial buys and sells securities which it classifiesas available-for-sale. On December 27, 2018, S&L purchasedCoca-Cola bonds at par for $892,000 and sold the bonds on January3, 2019, for $900,000....
- Q Using the AICPA Code of Professional Conduct (the Code), imaginean ethical situation that arises in your work involving you.Discuss whether you can resolve it using the Code. Are there anylimitations...
- Q Determine all items that will be deducted before the AGIcalculation. In a MS Excel spreadsheet, list all deductible itemsin column A. In column B, determine where that deduction shouldappear on...
- Q Smithson Company uses a job-order costing system and has twomanufacturing departments—Molding and Fabrication. The companyprovided the following estimates at the beginning of the year: MoldingFabricationTotal Machine-hours24,00034,000 58,000 Fixed manufacturing overhead costs$770,000$230,000 $ 1,000,000 Variable...
- Q Financial statement disclosuresYou are the financial accountant for Superstore Ltd, and are inthe process of preparing its financial statements for the yearended 30 June 2018. Whilst preparing the financial statements,...
- Q Rippa Ltd was incorporated on 1 July 2017. The followingtransactions and events occurred during the year ended 30 June2018:1 Jul 2017: Rippa Ltd makes an offer to the public for...
- Q Chapter 1 Question E1-8. Isn't the answer for 8 (A companyshould disclose information only if the perceived benefits of thedisclosure exceed the costs of providing information. Whichconstraint does this statement...
- Q This paragraph is missing these pronouns: you, yourself, it,this, ourselves, and us. Click on the space where the pronoun ismissing, and type the correct pronoun in the text box. Check...
- Q You have just been hired as a financial analyst for LydexCompany, a manufacturer of safety helmets. Your boss has asked youto perform a comprehensive analysis of the company’s financialstatements, including...
- Q 3.Tremaine would like to organize UTA as either an S Corporationor a C corporation. In either form, the entity will generate a 9percent annual before-tax return on a $1,000,000 investment.Tremaine’s...
- Q After exploring the three big financial statements, the BalanceSheet, Income Statement and Statement of Cash Flows, identify theone you think you will use the most and write a one page...
- Q Exercise D2-11Crane Flower Cart incurred the following monthly costs.Bouquets Sold5,0007,50010,000Balloons (10 per bouquet)$10,000$14,000$18,000Insurance$5,000$5,000$5,000Delivery$5,500$7,750$10,000Employee compensation$10,000$12,500$15,000Advertising$1,500$1,500$1,500Using the form y = mx + b, estimate the cost formula foreach cost incurred by Crane...
- Q Describe a situation in which you made a decision based onaccounting information, and identify whether that information wasfinancial accounting information or managerial accountinginformation.
- Q On January 1, 2015, the Mayfield Corporation issued $500 millionof zero-coupon debentures, due December 31, 2025. The proceeds ofthe bond sale totaled approximately $192.772 million. Assumingsemi-annual compounding, estimate the effective...
- Q Predicting if income exceeds $50,000 per year based on 1994 USCensus Data with Simple Classification TechniquesLinear Discriminant Analysis: Perform cross-validated LDA(LOOCV) with variable income.cat as response, and all the numericvariables...
- Q 3) The statement of financial position can be used to assess thefollowing aspects of the reporting entity:• liquidity• asset mix• financial structure(solvency).(a) What do these terms mean?(b) How could they...
- Q For each of thefollowing costs, please indicate as mixed or step costs and giveyour explanation.a. Electrical charge for themonthb. Factory overheadc. Wages if quality controlemployee who gets paid a bonus...
- Q Define the multiple Standards Setting Organizations (such asAICPA, ISACA and IIA) and the resources they offer
- Q LAB #1Chapter 1Cost ClassificationsOBJECTIVE: Apply appropriate cost classifications anduse to determine average cost per unit.--------------------------------------------------------------------------------------------------------------------Heritage Company manufactures a beautiful bookcase thatenjoys widespread popularity. The company has a backlog of ordersthat...
- Q WalmartTargetCommon size comparative analysis-Cash FlowCommon size comparative analysis- Cash FlowFor the year ended January 31, 2018For the year ended February 3, 2018Details2018Details2018$$Net Income$9,862,000Net Income$2,934,000Cash Flows-Operating ActivitiesCash Flows-Operating ActivitiesDepreciation$10,529,000Depreciation$2,445,000Net Income Adjustments$4,042,000Net...
- Q Printing Company currently leases its only copy machine for$ 1 comma 300$1,300a month. The company is considering replacing this leasingagreement with a new contract that is entirely commission based.Under the...
- Q 4) Explain the similarities and differences in the flow ofinformation through the balance sheet accounts in a manual versus acomputerised accounting information system.5) And is it important to acknowledge the...
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