Accounting question and answers for November 23, 2023
- Q Virgie was credited with salary of P72,000 and interest of 12,000 o her capital contributions. She was charged with P6,000 as her share in the remainder on a 1:1 ratio....
- Q Fearless Frank's Fertilizer Farm produces fertilizer and distributes the product by using his tanker trucks. Frank's uses budgeted fleet hours to allocate variable manufacturing overhead. The following information pertains to...
- Q Discuss the meaning of the term "break-even". Why would a manager be concerned with the break-even point? Does a break-even calculation provide absolute accuracy? Why or why not? Discuss the...
- Q Townsend and Daltrey have a partnership. They wish to admit Starr as a third partner. The partnership agreement is silent on admission of new partners. What is the correct procedure?...
- Q Indicate which of the following items will result in cash inflows and which will result in cash outflows. The first one is shown as an example. a. initial investment b....
- Q Houston-based Advanced Electronics manufactures audio speakers for desktop computers. The following data relate to the period just ended when the company produced and sold 44,000 speaker sets: ...
- Q Diaz company uses a predetermined overhead rate of $6.00 per machine hour. If 70,000 machine hours were worked this year and actual overhead costs of $380,000 were incurred, what was...
- Q Job 218 was one of the many jobs started and completed during the year. The job required $4,000 in direct materials and 400 hours of direct labor time at a...
- Q I NEED HELP MAKING A T ACCOUNT FOR ALL OF THIS PLEASE!!!! I HAVE TO TURN THIS IN TONIGHT!!!! Francines Fast Deliveries, Inc. (FFD)...
- Q Tresler Co. owns equipment that cost $92,500, with accumulated depreciation of $54,000. Tresler sells the equipment for cash. Record the sale of the equipment for cash. Record the sale of...
- Q identify and discuss the six main components of the utility marketing model and give an example for each
- Q in the context of corporate chargable gains explain what is meant by the disposal of a substantial shareholding and explain the tax treatment of any gain or loss arising from...
- Q Macon Industries has the following budget information available for Feb. Units manufactured - 20,000 Factory administration 45,000 Assembly - hr per unit x $8 Direct materials 2 pounds per...
- Q Seven Enterprises is a large producer of gourmet pet food. During April, it produced 147 batches of puppy meal. Each batch weighs 1,000 pounds. To produce this quantity of output,...
- Q a company had net income of &76000 in year 1 and &88000 in year 2. its net sales were $640000 in year 1 and $611000 in year 2. its average...
- Q . What is the primary objective of the fair value method of accounting for an investment?
- Q "Pharoah Curtin borrowed $32,600 on July 1, 2025. This amount plus accrued interest at 7% compounded annually is to be repaid on July 1, 2030. Click here to view the...
- Q From the book Survey of Accounting 3rd edition complete the problems from Chapter 7. Problem 7-26, 7-27, 7-28
- Q Role of Management Accounting Review the roles of management accounting within a company. What is the most important role of management accounting? How is that different than financial accounting? Guided...
- Q J.P. Industries purchased 2,000 shares of Yang's common stock for $143,000 as a long-term investment. The investment is classified as available-for-sale securities. The par value of the stock was $1...
- Q Ticket, Inc. issued 10% bonds, dated January 1, with a face amount of $240 million on January 1, 2011. The bonds mature in 2020 (10 years). For bonds of similar...
- Q 10.Information for Kent Corp. for the year 2018: Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 178,700 Permanent differences (15,200 ) 163,500 Temporary difference-depreciation (12,500 )...
- Q On January 1, Year 1, Turner, Inc., reports net assets of $ 480,000 although a building (with a 10- year life) having a book value of $ 260,000 is now...
- Q The following stockholders' equity accounts arranged alphabetically are in the ledger of Tyner Corporation at December 31, 2010. Common Stock ($5 stated value) $2,000,000 Paid-in Capital from Treasury Stock 10,000...
- Q WHR, LLC sponsors a defined contribution plan. Vaughn, age 44, has compensation of $160,000 for the year. WHR has made a $15,000 profit sharing plan contribution on Vaughn's behalf and...
- Q Hadley, Inc. manufactures a product that uses $16 in direct materials and $11 in direct labor per unit. Under the traditional costing system Hadley uses, manufacturing overhead applied to each...
- Q 12 Red Co. registr un activo por derecho de uso de $100,000 en un contrato de arrendamiento Tipo A de 10 aos. Los pagos de $16,275 se...
- Q Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired...
- Q BE18-6 Weisman, Inc. Uses activity-based costing as the basis for information to set prices for six lines of seasonal coats. Compute the activity-based overhead rates using the following budgeted data...
- Q mike invests $50000 into a 9 month CD that earns %4.5 interest compounded monthly. How much will the CD be worth when the term is complete?
- Q Since overhead costs are indirect costs a. they require some process of allocation. b. they can be easily traced to production. c. a predetermined overhead rate is not advantageous
- Q 1.Jan, who is an employee, drove her automobile a total of 40,000 business miles in 2011. She also has receipts for...
- Q Complete the below table to calculate the price of a $1.5 million bond issue under each of the following independent assumptions 1)Maturity 15 years, interest paid semiannually, stated rate 10%,...
- Q For bank reconciliation what do we do with interest earned on the bank balance? do we add or subtract from bank or ledger side?
- Q Dennis is currently considering investing in municipal bonds that earn 6.40 percent interest, or in taxable bonds issued by the Coca-Cola Company that pay 9.40 percent. At what tax rate...
- Q Derivatives have become common place in large national banks. They can be very useful, but also quite complicated. A major cause of the housing crisis can be tied back to...
- Q I need help with problem 15-18 in accounting 202
- Q How do i adjust entry this account? "The computer system, acquired on October 1st is expected to have a four year life with no salvage value
- Q Record each transaction: 1) Receive an invoice for $400 from the local newspaper for an advertisement that appeared on September 2. 2) Receive $4,000 from customers on account
- Q Assuming no unis are lost, the number of units to account is equal to the A. number of units in BI +number of units started this period B. number of...
- Q Capriati Corporation commenced operations in early 2012. The corporation incurred $55,130 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal...
- Q seamark buys $300,000 of eider's 8% five-year bonds payable at par value. interest payments are made semiannually.All of the following regarding accounting for the securities are ture except: A.the debt...
- Q My weekly demand is 5000 mowers but i can only produce 4200. According to the theory of constraints, to increase production output I would benefit the most by concentrating improvement...
- Q Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 Skip to question [The following information applies to the questions displayed below.] Onslow Company purchased a used machine for...
- Q Prior to Tuesday midnight of Week 4, post at least once about this week's Wiley assignment. You may post asking your fellow learners for help or share your own insight...
- Q Jake owns an insurance policy on the life of his father, Mike. Upon Mike's death, the policy proceeds of $1,000,000 are paid to the designated beneficiary, Kate. What are the...
- Q A corporation purchased and retired 10,000 shares of its $20 par common stock, originally issued at par, for $42. Cash flows amounted to
- Q How much must be deposited at the beginning of each year to accumulate to $23,000 in two years if interest is at 9%?
- Q Use the following information to evaluate the performance of the Best Division. Sales $7,500,000...
- Q Your firm is contemplating the purchase of a new $720,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth...
- Q Gladstorm Enterprises vende un producto a $60 por unidad. El costo variable es de $20 por unidad, mientras que los costos fijos son de $85 000. Determine (a) el punto...
- Q On November 1, 2013, Tim's Toys borrows $32,400,000 at 9% to finance the holiday sales season. The note is for a six-month term and both principal and interest are payable...
- Q Explain how the audit of cash and revenues and accounts receivable may be overlapping and how an auditor may approach this area of the audit.
- Q Racton Pte Ltd (Racton), is a foreign company incorporated in America. Racton is attracted to the tax incentives offered by the Malaysian Government on manufacturing of promoted products. As such,...
- Q On February 1, 2015, Pat Weaver Inc. (PWI) issued 7%, $1,500,000 bonds for $1,800,000. PWI retired all of these bonds on January 1, 2016, at 105....
- Q Foley Company uses a job-order costing system. The following data relate to the month of October, the first month of the company%u2019s fiscal year: a. Raw materials...
- Q La informacin necesaria para determinar si una empresa est utilizando mtodos contables similares a los de sus competidores, en cul de los siguientes se encontrara? a. informe del auditor b....
- Q Last year the return on total assets in Jeffrey Company was 8.5%. The total assets were 2.9 million at the beginning of the year and 3.1 million at the end...
- Q Stratford Company distributes a lightweight lawn chair that sells for $15 per unit. Variable expenses are 6.00 a unit, and fixed expenses total 180,000 annually. results from last...
- Q =Summer 20 Corp produces dining chairs. Based on the following, what is the contribution margin per machine hour? Selling price per unit $180...
- Q Petrenko Corporation has outstanding 2,240 $1,000 bonds, each convertible into 50 shares of $14 par value common stock. The bonds are converted on December 31, 2012, when the unamortized discount...
- Q Utilizing the "Auditing through the computer" approach explain what types of procedures you would perform as an auditor in evaluating an online order processing system
- Q El valor en libros del equipo viejo es un costo relevante en la decisin de reemplazar ese equipo. (Ignore los impuestos). Verdadero FALSO
- Q The cost accounting manager at your business says he is trying to decide between a job costing system and an ABC system. How would you respond
- Q **Please fill out the chart post at the bottom and please do not copy and paste a previous answer that has been used on CHegg. Lehighton Chalk Company manufactures...
- Q The newly formed Buffalo School District engaged in the following transactions and other events during the year
- Q Fullagar Corporation's cost formula for its manufacturing overhead is $15,400 per month plus $11 per machine-hour. For the month of May, the company planned for activity of 7,500 machine-hours, but...
- Q Perry Company manufactures wood file cabinets. The following information is available for June of the current year. Beginning Ending Raw Material Inventory $ 6,000 $ 7,500 Work in Process Inventory...
- Q Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the...
- Q The following totals for the month of June were taken from the payroll register of Ford Company. Salaries and wages $40,000 FICA taxes withheld 3,066 Income taxes withheld 8,800 Medical...
- Q Show me your works Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $80 per unit. Variable expenses are $40.00 per unit, and...
- Q stockton corporation purchased equipment for 32000. stockton also paid $400 for freight and insurance while the equipment was in transit.Sales tax amounted $240. insurance,tax, and maitenance the first year of...
- Q Ardel Co. budgeted to sell 200,000 units of Zbox in September. Production of one unit of Zbox requires two pounds of aluminum and five pounds of...
- Q 4. The company...
- Q how many observations would you expect in the favorite meal category being steak and the gender being male, assuming that favorite meal and gender were independent of each other
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