Accounting question and answers for July 08, 2023
- Q 2018 Revenue $16,564,208 2018 NOPAT $1,509,158 2018 NOA $12,315,766 2017 NOA $8,819,620 Calculate: RNOA
- Q a. $13,000 received at the end of each year for nine years compounded annually at 3%. The future value (FV) for this scenario is...
- Q The following information is available for Brendon Company before closing the accounts. What will be the amount in the Income Summary account that should be closed to Brendon, Capital?...
- Q Nelson Nurseries Roger Barton hummed along to a seasonal carol on the van radio as he made his way over...
- Q The Geurtz Company uses standard costing. The company makes and sells a single product called a Roff. The following data are for the month of August:...
- Q Determine the missing amounts
- Q When Ben retired in January this year, he sold his investment property for $900,000. Ben inherited the property on the 29th of June 1995 after his father died. ...
- Q 18) Give 10 examples for primary and support activities under business activities ?[Provide detail explanation and type your answer and do not copy the answer from chegg study ]
- Q Sales are budgeted for $270,000. Selling expenses are budgeted at $70,000 per month for salaries and 5% of sales for commissions. Determine the fixed and variable amounts for selling expenses.
- Q A company does not need to journalize entries in order to construct the trial balance. True False
- Q Sales Mix and Break-Even Analysis Heyden Company has fixed costs of $849,300. The unit selling price, variable cost per unit, and contribution margin per unit for the company's two products...
- Q Lake Community College gives its faculty the option of receiving the balance of their contract at the end of the semester on May 17, 20--. The faculty can receive one...
- Q The wayne company is considering a long term investment project called ZIP. Zip will require an investment of $120,000. It will have a useful life of 4 years and no...
- Q You will present a selected clause "DISPUTE RESOLUTION " from the Sample Services Agreement. Your presentation should include: The meaning and purpose of the clause A description of its importance...
- Q Emerald Co. uses a perpetual inventory system and records purchases of merchandise at net cost. The company recently purchased 540 compact discs at an invoice price of $7,200 and terms...
- Q I- Runy Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Runy Company was planning to...
- Q Why is it so important to have good data? need to 250 word for this question
- Q the balance in A/R on 1/1/2017 was 21. the balance kn 12/31/2017 was 35. sales for 2017 were 144. 2 in accounts were written off. what amount of cash was...
- Q Received payment. Within the discount period, for merchandise sold previously. This will be recorded with a :A credit to an asset account B debit to a liability account ...
- Q Foam Products, Inc., makes foam seat cushions for the automotive and aerospace industries. The company's activity-based costing system has four activity cost pools, which are listed below along with...
- Q Your firm has beerrengased to examine the financial statements of Pina Corporation for the year 2025 ....
- Q Question 2: Milton Investments borrowed $32,000 at 11% compounded semiannually. The loan is to be repaid by payments of $4,500 due at the end of every six months. a. How...
- Q During the month of February, Trombone Corporation's monthly sales revenue declined from $2.5 Million to $2 Million and its monthly operating income declined by 300 percent. What was Trombone's degree...
- Q Magnolia, Inc., manufactures bedding sets. The budgeted production is for 10,500 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 4,210 yards...
- Q Journalize the following selected transactions completed during the current fiscal year
- Q Compute the lower-of-cost-or-net realizable value valuation for Montana Company's total inventory based on the following
- Q A company purchases equipment for $500,000 that it expects to use for 8 years before salvaging for $20,000. The company uses straight-line. Select the most correct statement: a. The book...
- Q 12. $ You decide to save $250 every month for the next five years so you can start a small business. You are investing the money and can earn 12%....
- Q Which keyboard combination will open the File menu in QuickBooks?
- Q The cost of inventory purchased to be resold becomes part of cost of goods sold when a company: a. sells the inventory b. receives payment from the customer c. purchases...
- Q 1) What is degree of operating leverage (DOL)? How is it calculated? What are the advantages / disadvantages of having high or low DOL? 2) What are the benefits of...
- Q ,Inc., manufactures and sells snowboards. Skis manufactures a single model, the Pipex. In late 2017 Ski management accountant gathered the following data to prepare budgets for January 2018 The inventoriable...
- Q Song earns $192,500 taxable income as an interior designer and is taxed at an average rate of 20 percent (i.e., $38,500 of tax). a. If Congress increases the income tax...
- Q Additional Question 2 What should be considered with regards to procedures? reliability of date used in analytical substantive
- Q Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $23 million as of December 31, 2016. Prewitt has a tax rate of 35%. Prewitt's retained...
- Q Apply Canadian rules. I need help with 7, 8, and 10. These are all seperate problems. Problem 1 ach of the following...
- Q Fill in the dollar changes caused in the investment account and dividend revenue or investment revenue account by each of the following transactions, assuming Crane company uses (a) the fair...
- Q Why are the costs of plant/long term assets recovered through depreciation vs. expensed out during the period purchased? Choose one of the following depreciation methods to discuss: straight line, units...
- Q If the expected sales volume for the current period is 6,500 units, the desired ending inventory is 228 units, and the beginning inventory is 338 units, the number of units...
- Q The Blossom Corporation is a calendar-year corporation. Its financial statements for the years 2021 and 2020 contained errors as follows: 2021 Ending Inventory Overstated $9,000 Depreciation Expense Understated $6,000 2020...
- Q The debt-to-equity ratio compares the amount of creditors' claims to the assets of a firm with owners' claims to the assets of the same firm. TRUE OR FALSE
- Q 1. As of December 31st, wages of $45,700 should be accrued; associated payroll taxes on these wages are $2,910. (Record in two separate adjusting entries. The payroll taxes are an...
- Q Chandler, Inc. is owned by Roscoe Chandler and provides appraisal services to individuals and companies wishing to purchase and sell fine art. Chandler, Inc. began business on January 1, 2017,...
- Q Explain the difference between the following three report's: Payroll Summary, Payroll Item Detail, and Payroll Transaction detail.
- 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 Simon formed a grass-cutting and related services business in Prince George, B.C.,Si - the Grass Guy proprietorship. To start the business on May 1,2023 Simon deposited...
- Q The pre-closing trial balance for the general fund of Lancaster Company at December 31,2021 is given below. CashTaxesreceivableEstimatedrevenuesEstimatedotherfinancingsourcesExpenditureTransfersoutCapitalOutlayDebtservice-principalDebtservice-interestAllowanceforuncollectibletaxesAccountspayablePropertytaxrevenuesOtherrevenuesProceedsfrombondsTransfersinAppropriationsEstimatedotherfinancingusesFundbalance-cunassignedDebit$362,000113,0001,290,00060,0001,015,00020,00025,0002,0008,0008,00022,000Credit$5,00050,000950,000400,00050,0001,085,000285,000$2,895,000 What is the excess of revenues over expenditures reported on...
- Q CincySavers prepared the following contribution margin income statement for the month. Sales (6,000 units) $ 180,000 Variable expenses 117,000 Contribution margin 63,000 Fixed expenses 48,300 Net operating income $ 14,700...
- Q Zahn Company budgets sales of 260 units in May and 440 units in June. Each month's ending inventory should be 25% of the next month's sales. The April...
- Q Campbell Company has provided the following Year 2 data. Required Prepare a budgeted and actual income statement for internal use
- Q Many firms break the variable factory overhead flexible budget variance down into two detailed variances that measure ________ A: Price and efficiency B: Spending and efficiency C: Spending and production...
- Q Compute percent change for each of the following
- Q Smith Company produces desk lamps. The information for June indicated that the selling price was $25 per unit, variable costs were $15 per unit, fixed costs totaled $6,000, and the...
- Q Plastix Inc. bought a molding machine for $600,000 on July 1, 2017. The company expected to use this machine to extrude plastic toys for the next eight (8) years,...
- Q Each employee records the number of withholding allowances claimed on the withholding allowance certificate that is filed with the employer, which is the Form W-4. TRUE OR FALSE?
- Q lei oulu (z'r'1} *17
- Q Enter the number 87.0365 below exactly (no rounding)
- Q The financial statements of Amazon.com, Inc; are...
- Q Boca Corporation, a U.S. corporation, reported U.S. taxable income of $1,000,000 in 2018. Boca also received a dividend of $100,000 from the corporation's 100 percent owned subsidiary in Italy. The...
- Q Choose two publicly traded companies that you believe should merge. Discuss in a 5 to 7 page paper a brief history of each company, their financial situation before and after...
- Q I NEED HELP WITH STATEMENT OF STOCKHOLDERS' EQUITY. MY EQUITY AND LIABILITIES BALANCE IS NOT MATCHING UP WITH THE ASSETS. WHERE AM I DOING WRONG? ANY HELP WILL BE HIGHLY...
- Q The following selected account balances appeared on the financial statements of the Washington Company: Accounts receivable, Jan. 1 $15,030 Accounts receivable, Dec. 31 8,608 Accounts payable, Jan. 1 5,565 Accounts...
- Q On January 1, 2012, Ace Electronics borrowed $40,000 on a five-year, 7% note. Ace will pay only the interest on the loan on December 31 each year. The entire principal...
- Q just need some clarification on the accounts for debit and credit as it is quite confusing for this question, for part D and F ...
- Q A rectangle with an inverted triangle within it is a symbol used to represent what organizational form? A) Partnership B) Corporation C) Hybrid entity treated as a corporation for tax...
- Q Profitability Index A project has an initial cost of $73,575, expected net cash inflows of $14,000 per year for 9 years, and a cost of capital of 8%. What is...
- Q On July 1, 2014 Individual A acquires in the open market a bond of Corporation X having stated redemption price of $10,000 and maturity date of December 31, 2016 for...
- Q Compute the total direct materials variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)
- Q Cut = = Paste Copy Calibri 11 A A...
- Q On January 1, 2011, Climax Corporation signed a $10,000,000, 6%, 10-year mortgage note to finance the construction of its new hotel in Cancun. The note will be repaid in 10...
- Q The first general standard, which states in part that the audit is to be performed by a person or persons having adequate technical training, requires that an auditor have a....
- Q a. $23,000 payable at the end of each year for 20 years with 5% interest compounded annually. The present value (PV) for this scenario...
- Q (c) Compute net operating assets (NOA) for 2016. Note, for the balance sheet items of Cisco Systems, non-operating assets include cash and cash equivalents, and investments. Nonoperating liabilities include short-term...
- Q Given taxable income 63,250 what is my tax bracket and how much do I pay in taxes? Assuming all else equal. Deductions are embedded.
- Q Use Excel to prepare a Bond Interest and Discount Amortization Table using the following information: $50,000,000 face value coupon rate of interest - 6% market rate of interest - 7%...
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