Accounting question and answers for July 23, 2023
- Q Using historical records, a manufacturing firm has developed the following probability distribution for the number of days required to get components from its suppliers. The distribution is shown...
- Q High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for...
- Q 1.33 points imperial Jewelers is considening a special order for 23 handrafted gold bracelets to be given as gits to members...
- Q On December 31, the company provides consulting services and receives cash of $5,000. Note: Enter debits before credits. Date December 31 Cash Record entry General Journal Clear entry Debit...
- Q (b) Determine the balance in accumulated other comprehensive income on the statement of financial position on each of December 31,2023,2024, and 2025.(Enter negative amount using...
- Q 1. Describe the differences between process costing and job 5.4 costing. 2. Distinguish between normal and abnormal losses and explain. 3. Provide examples of industries that use process costing. 4....
- Q Alpha and Beta are divisions within the same company. The managers of both divisions are evaluated based on their own divisions return on investment (ROI). Assume...
- Q Mama Fran's Bakery makes a variety of home-style cookies for upscale restaurants in the Atlanta metropolitan area. The company's best-selling cookie is the double chocolate almond supreme. Mama Fran's recipe...
- Q Which of the following most likely should be considered in the internal audit activitys planning for the assessment of governance? A.Whether all decisions have been authorized by the...
- Q If an asset is sold at a gain, why is the gain deducted from net income when computing the net cash flows from operating activities under the indirect method?
- Q "It is extremely important that the behaviour and conduct of our auditing companies continue to justify the respect, trust and confidence that they have earned," said Jongisa...
- Q Estimated Income Statements, using Absorption and Variable Costing Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results: Sales...
- Q Question Help Green Thumb USA provides lawn care and landscaping services to commercial clients. Green Thumb USA uses activity-based costing...
- Q XYZ Company initially records prepaid and unearned items in income statement accounts. Given XYZ Company's practices, what is the appropriate adjusting entry to record unused office supplies of $500 that...
- Q Tickets Sold YTD: 10,000,000 airline tickets Sales Fixed Costs Total Variable Costs EBIT Interest Expense YTD Totals (SMM) 6,398 2,298 1,599 2,581 599
- Q Multiple Choice $7,200 gain. $13,400 gain. $6,200 gain. $6,200 loss. $7,200 loss
- Q im not sure how to do the income and balance sheet
- Q There is to be an increase next year in the rent from sh. 12,000 to sh. 14,000 for a warehouse used to store finished goods ready for sale. What will...
- Q On the Statement of Cash Flows, cash flows in the Operating Activities section should normally be O positive. O negative
- Q JJP info for the last two years Balance sheets Balance Sheet Year 2 Year 1 Assets Current Assets Cash $17,000 $12,000...
- Q Due the follewing ts annwer the arst 2 quatises: Due the follewing ts annwer the arst 2 quatises
- Q Listed below is information related to several transactions of Life-Long Fitness, a gym that sells memberships. Assume that Dec, 1 Dec. 2 Dec. 5 Dec. 16...
- Q Anita Vasquez received $180,000 from her mother
- Q In one or two sentences, what do you think training and development plans offer the employee and the company?
- Q Jeoffroy Inc. uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of November
- Q Paulson Company issues 7%, four-year bonds, on January 1 of this year, with a par value of $96,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) January...
- Q When you develop and implement strategies to ensure that difficulties in workplace relationships are identified and resolved, what do you need to consider?
- Q Patrick Corporation acquired 100 percent of OBrien Companys outstanding common stock on January 1, for $550,000 in cash. OBrien reported net assets with a carrying amount of $350,000 at that...
- Q "Greg, the board of directors' meeting is scheduled two weeks from today, and I'm depending on you to come up with a realistic and honest appraisal of our...
- Q Sam Spurr gave property to Robert Reddy when its fair market value was $70,000 and the adjusted basis was $50,000. Robert died two years later when the fair market value...
- Q BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently isn't...
- Q On January 1, 2020, Fast & Furious Corporation purchased a new race car for $250,000. The company expects the car to last for 5 years. The car has an estimated...
- Q Financial information for Buckle is presented in Anpendix B. Required: 1. Calculate the following...
- Q Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a...
- Q Just Dew It Corporation reports the following balance sheet information for 2008 and 2009. JUST DEW IT CORPORATION...
- Q Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant...
- Q The CFO of the Zachary Microscope Corporation intentionally misclassified a downstream transportation expense in the amount of $585,600 as a product cost in an...
- Q Complete this question by entering your answers in the tabs below. 3. With respect to cost classifications for manufacturers: a. What is the...
- Q Management should take responsibility for all unfavourable variances. Select one: True False
- Q what accounts should i create? pls help SD-16 Shirts \& Ties Aug 31, 2026 To: Your Name From: Robert Amber, Manager Please enter the following...
- Q An invoice from a buyer for $250 was accidentally recorded in the general journal and posted to both the control and subsidiary accounts as $25. This error would most likely...
- Q Essential Company, which manufactures steel tubing and casing for automobile production, borrowed $516,000 on January 1 to finance the purchase of a new piece of machinery with new heating technology....
- Q There is 80% increase in an amount in 8 years at simple interest. What will be the compound interest of $14000 after 3 years at the same rate?
- Q there are \$3,500 of supplies on hand. Prepare the adiustine entry at December 31 , and usine T-accounts, eniter the balances in the accounits post ule...
- Q Google has both fixed and variable costs. why are fixed costs depicted as a horizontal line on a CVP chart?
- Q Shown here is an income statement in the traditional format for a firm with a sales volume of 16,000 units: ...
- Q 1.Carter is a sole trader. His gardening business is not doing well and has recorded very little profit. Unfortunately, he did not install a water fountain correctly and it caused...
- Q There are 11 units of the product in the physical inventory at November 30. The periodic inventory system is used. Determine the inventory cost by (a) FIFO, (b) LIFO, and...
- Q LUTCHCRUCHTV5! Sarasota, Inc. is a furniture manufacturing company with 50 employees. Recently, after a long negotiation with the local labor union, the company decided to initiate...
- Q Cash disbursements would not include payments for: (Points : 5) dividends. income taxes. accounts receivable. capital budget expenditures.
- Q company could sell 4,000 more units of this product; the cost of this research was $17,800. Assuming a discount rate of 6%, what is the net present value...
- Q It looks clear on all 3 of my computers and...
- Q Kevin transferred $4,000,000 to a GRAT naming his four children as the remainder beneficiaries. Kevin retained an annuity from the GRAT valued at $1,500,000. If this is his only transfer...
- Q Gabriella and Roberto have adjusted gross incomes of $48,700 and $32,700, respectively. Assume that each person takes one exemption and the standard deduction. Answer parts (a) through (c)...
- Q How do you get PVF@10% 0.9091
- Q Estimated Income Statements, using Absorption and Variable Costing Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results: Sales (27,200 x...
- Q Which of the following general control activities involves documenting difficulties with processing and the subsequent action taken? Question 15 options: 1) Accessing programs and data 2) Changing existing...
- Q Financial professionals are skilled in financial analysis. However, most are not skilled in manufacturing. To provide professional expertise, one must understand the industry, product, and processes. In your initial...
- Q On January 1, year 1, Jessica received 10,000 shares of restricted stock from her employer, Rocket Corporation. On that date, the stock price was $10 per share. On receiving the...
- Q w2 Acct The Deweys are expecting to save on their taxes for 2014. Not only have both incurred large medical expenses, but both reached age 65. During the year, they...
- Q A partial trial balance of Windsor Corporation is as follows on December 31,2021. Additional adjusting data: 1. A physical count of supplies on hand on December 31,2021 ,...
- Q The manager of a profit center is responsible for which of the following? (i) Revenues of the center, (ii) Costs of the center, (iii) Efficiency of assets employed in the...
- Q Explain the concept of materiality in financial reporting and its significance in determining the relevance and reliability of financial information. Provide an example to illustrate your explanation
- Q Analyzing Unearned Revenue Liablities (FSET) bex office reverue on a ypecific performatce bases: \table[[,Alitiues,],[\table[[,,],[Ended,,],[J,,Defirned],[31,(Becomice and Tourint,Revenue:],[21II,PEEISA,Y2ITE:],[2018,segs:,HAS],[2017--2,8x,514,4,42549],[2016,87,582,HE.TEY]],,]] Note: Use nagative sigra with your answers, when appoprate:...
- Q Ivy Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 61,600 ounces from the Blending Department. During the period, the Filling Department completed 64,400 ounces, including...
- Q Examples of plant assets are: (Select all that apply.) Multiple select question. buildings. accounts receivable. cash. equipment.
- Q A seven-year interest bearing note for $19950 at 8.1% compounded quarterly is issued on January 19,2006 . Four years and eleven months later , the note is discounted at 14.55%...
- Q When a long-term note is given in exchange for equipment, the amount considered as paid for the machine is the: Multiple Choice a) Present value...
- Q Data Table oss is ack of ringo data $ 880 720 140 1,320 900...
- Q Anh this Question 21 Low Cost 130.000 3021 rancan0002022. The 2012 Component comencen 2017 21:45 pm formation Toon Now That can only been...
- Q Examples of roles of recruitment and selection?
- Q QUESTION TWO (20marks) Distinguish between a procedural audit and a balance sheet audit (8marks) Explain the nature and purpose of a post audit review. (4marks) Identify the audit procedures...
- Q 5. Wingate Company has the following information available for three divisions of the company: Division A Division B Division C Sales $250,000 $400,000 $350,000 Variable expenses 52% 30% 40%...
- Q When are budgetary comparison schedules or statements required? Should the actual revenues and expenditures on the budgetary comparison schedules be reported on GAAP basis? Why or Why not?
- Q Establish processes and systems to ensure that conflict is identified and managed constructively in accordance with the organisations policies and procedures?
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