Accounting question and answers for July 25, 2023
- Q Suppose you are risk averse with expected medical expenses of $900/per year. If a medical insurance company presented you with a policy of $1000/per year, would you buy...
- Q The total interest charged on a $400,000 note payable, at the rate of 8%, on a 90-day note would be: Select one: a. $17,776. b. $8,000. c. $2,666. d....
- Q the gulp convenience store chain buys new soda machines for 450,000 and pays 50,000 for installation cost. one half of the total cost or 250,000 is paid in cash; a...
- Q use excel Use the following information to answer the questions below. Show all work in your Excel worksheet. Place the company name at the top of the worksheet....
- Q I would like the answers to comprehensive problem #3,Springdale Retail, Inc., page 521 in ISBN 9780078025778, Financial and Managerial Accounting 17th edition. by Williams. Thank you
- Q On January 1, 2014, Howe Company's Accounts Receivable balance was $10,300 and the balance in the Allowance for Doubtful Accounts was $515. On January 5, 2014, a $230 uncollectible account...
- Q On January 1, 2018, Solo Inc. issued 1,200 of its 7%, $1,000 bonds at 97.8. Interest is payable semiannually on January 1 and July 1. The bonds mature on January...
- Q The Colin Division of Carla Vista Company sells its product for $40 per unit. Variable costs per unit include: manufacturing, $13; and selling and administrative, $4. Fixed costs are: $240000...
- Q i thank you in advanced! Amourit added Ending balance Mmount added Ending batance
- Q Question Content Area Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: May 1. Inventory 37 Units @ $15 9. Sale....
- Q (c) At what rate does the factory's cost increase for every additional chair produced
- Q 10. Based on a 5% TVOM, what is the capitalized cost for an annual expenditure of $10,000? A. $50,000 B. $100,000 C. $150,000 D. $200,000
- Q Fill out the excel spreadsheet (green/blue shaded cells) with the correct data based on the balance sheet from BBWI provided (ignore the one is already in) \begin{tabular}{|c|c|c|c|c|c|c|} \hline...
- Q Required information [The following information applies to the questions displayed below.] Arctica manufactures snowmobiles and ATVs. These products are made in different departments, and each department has its...
- Q The accounting principle that requires a company to use the same accounting methods (such as inventory cost flow methods) over a period of time is the historical cost principle. the...
- Q In 2017, Jordan had a taxable income of $100000. This amount included short term capital losses of $1000 and long term losses of $10000. He had no other capital transactions...
- Q Thank you ! Preston manufactures coffee mugs that it sells to other companies for...
- Q i need it clear and not alot 1 2 In your OWN words, explain the difference between "crime" and "deviance." From the reading,...
- Q The following table shows a sample of miles flown (in 1000) by a group of employees. Calculate the mode
- Q Question 25 Which of the following financial statements reports an increase or decrease in net cash during a specific period of time? Answer saved Points out...
- Q At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing. Inc. The machines immedistely were overhauled,...
- Q Please answer whether all of them are either understated, overstated, or no effect. Thank you! At year-end, a company forgot to record Depreciation Expense on its fixed assets. How...
- Q Read the ethics case, Deciding Who Receives the Swine Flu Vaccine, on pp. 156-157 of your text and answer the following questions. Which group should be given priority from a...
- Q Con Company acquired new machinery with a price of $15.200 by trading in similar old machinery and paying $12.700. The...
- Q REQUIRED Use the information provided below to prepare the Cash Flow Statement of Alto Limited for the year ended 31 December 2022. INFORMATION The...
- Q For February, sales revenue is $559,000; sales commissions are 4% of sales; the sales manager's salary is $93,400; advertising expenses are $84,200; shipping expenses total 1% of sales; and miscellaneous...
- Q resented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling any missing amounts as needed
- Q Zahn Co. predicts sales of 220 units in May and 240 units in June. Each month's ending inventory should be 25% of the next month's sales. The April 30 ending...
- Q At a sales volume of 38,500 units, Choice Corporation's sales commissions (a cost that is variable with respect to sales volume) total $442,750. To the nearest whole dollar,...
- Q Which of the following is not a type of current liability? Choose one. Contingent liabilities. Pre-existing liabilities. Current portions of long term debt. Estimated liabilities. Clearly determinable liabilities.
- Q How the going concern assumption affect the financial statements we prepared?
- Q Alex bought his principal residence for $175000 on June 5, 2016. He sold it on July 18, 2017 for $205000. Assuming no adjustments to basis, what is the amount and...
- Q Lawns by Brawns uses 21 ounces of fertilizer for 1.5 acres. Assume the company is fertilizing 0.5 of an acre. How much fertilizer does it need
- Q Financial information for the Erasmus Winery for the period is shown below: The total current manufacturing costs for the period is
- Q Please put yourself in a post Covid 19 mindset and you could live and study abroad in any country in the world one would you choose and why?
- Q weekly pay in March, he earned $360.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($700.00), and the employer withholds the...
- Q Warren Company plans to depreciate a new building using the double declining-balance depreciation method. The building cost $830,000. The estimated residual value of the building is...
- Q Alternative Financing Plans Brower Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 10% bonds (at face value) $4,000,000 $2,500,000 Issue preferred $2.50 stock, $25 par...
- Q On June 1, 2014, Siebens Enterprises loaned $20,000 to Tyler Company for one year at 8 percent interest. Under the terms of the promissory note, Tyler will repay the principal...
- Q Conway Designs established a $100 petty cash fund on October 1, 2023. Prepare the entry fo replenish the fund at the end of each...
- Q Each of these items must be considered in preparing a statement of cash flows for Bridgeport Company, for the year ended December 31,2022. For...
- Q You have been given the following information about the production of Metlock Co., and are asked to provide the factory manager with information for a meeting with the...
- Q Andy contributed $15,000 from his savings to the business and took 5,000 shares of no par value common stock. What...
- Q El supuesto de la entidad econmica establece que los eventos econmicos Se puede combinar una de diferentes entidades si todas las entidades son sociedades annimas. B debe ser...
- Q Employment income$35,000Interest income5,000Taxable amount of dividend income7,000Taxable capital gain5,000Allowable capital loss12,000Subdivision E deductions2,000 Minjie Liu has the following sources of income and deductions. What is Minjie's Net Income for...
- Q If a company made a bank deposit on September 30 that did not appear on the bank statement dated September 30, in preparing the September 30 bank reconciliation, the company...
- Q Attest services do not include ________. a. audits b. compilation reports of financial statements c. reviews under SSARs d. examinations, reviews and agreed-upon procedures under SSAE
- Q Which of the following statement is true? -Operating leverage refers to a company's ability to increase its sales volume while decreasing its total fixed cost. -A company that has only...
- Q The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the companys fiscal year. a. Raw materials purchased on account, $210,000. b....
- Q Current Attempt in Progress Kevin Allen engaged in the following activities in establishing his photography studio, Wildhorse: 1. 2. 3. Opened a bank account in the name of Wildhorse...
- Q What are a few examples of variable and fixed manufacturing overhead costs that might be found at S&M, Inc. that manufactures pet collars?
- Q Recommend a logistics strategy that could enable MDC in Europe to improve service to its customers and simultaneously reduce the total inventory in its European network. ...
- Q Which of the following statements related to securities is not true: Select answer from the options below Equity securities without a readily determinable fair value are recorded at cost with...
- Q temporary accounts
- Q The Mead Corporation has a per unit selling price of $100, variable cost of $75 per unit, and fixed cost of $20,000. Mead has prepared a flexible budget showing sales...
- Q True or False? Absent a waiver in a Partnership Agreement, a partner's dissociation from a partnership will always result in either a buyout of the dissociated partner's interest or a...
- Q Martin Company purchases a machine at the beginning of the year at a cost of $61,000. The machine is depreciated using the straight-line method. The machines useful life is estimated...
- Q In 2019, LB Corp recognized EBT of $69,178 had interest expense of 13,605. Calculate LB's times interest earned ratio for 2019. Round your answer to two decimals (e.g. enter 28.65132...
- Q Scenario: Dalton McDonald owns and operates D Mac Trucking Ltd but has no accounting personal to prepare his financial information and has approached your group for assistance. The...
- Q View the financial statements. Read the requirements. Requirement 1. Describe each liability of Geodesic Domes, Inc., and state how the liability arose. Choose the correct liability...
- Q Metlock Co. sold $1,880,000 of 12%, 10-year bonds at 105 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1....
- Q ? 5 value 5.00 points Miller Toy Company manufactures a plastic swimming pool at its...
- Q Return on total assets A company reports the following income statement and balance sheet information for the current year: Net income $410,000 Interest expense 90,000...
- Q Alex is 31 years old and has lived in Los Alamos, New Mexico, for the last four...
- Q Problem 20-4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following balance sheet for...
- Q Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 Jan. 1 Paid...
- Q Fixed Overhead Variances Assume that ExxonMobil uses a standard cost system for each of its refineries. For the Houston refinery, the monthly fixed overhead budget is $8,300,000 for a planned...
- Q Pass the necessary journal entries in the books of sameer ltd co. for the month August 2015.1 Business commenced by 80000/- , Bank loan 45000/- and stock of 15000/-.4 Goods...
- Q Job order costing accumulates and records costs by job and assists managers in evaluating actual and expected costs related to direct materials, direct labor, and factory overhead costs. Select a...
- Q Which body oversees a board that develops ethics requirements for professional accountants globally? International Federation of Accountants. Public Company Accounting Oversight Board. Global Securities Exchange Commission
- Q AQ= Actual Quantity
- Q Acme Manufacturing Company prepared a fixed budget based on the expected sales of 160,000 units. That fixed budget included variable costs totaling $800,000 and fixed costs totaling $240,000. If the...
- Q Financial statements of Equuleus Ltd and its subsidiary Fornax Ltd at 31 Dec 2014: Equuleus Ltd Fornax Ltd ...
- Q 5. Understanding term life insurance Cho is a 60-year-old female who has recently become the legal guardian and sole caretaker of her three-year-old grandson. Ideally, she...
- Q Calculation gross margin % is considered a ...... O a horizontal analysis O a vertical analysis O trend analysis O all of the above O none of the...
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