Accounting question and answers for November 24, 2023
- Q Please help with this question On June 13, the board of directors of Siewert Incorporated declared a 2-for-1 stock split on its 100 million, $1.00 par, common shares, to be...
- Q NIKE, Inc. del punto de equilibrio y el nivel de produccin necesarios para lograr un nivel objetivo de ingresos operativos. Deben identificar el producto, indicar el precio de venta de...
- Q elow are 3 videos discussing the important of corporate governance, what is the role of the Securities and Exchange Commission and how to use the regulatory reports located on the...
- Q Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk...
- Q An asset was purchased for $140,000. It had an estimated salvage value of $35,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage...
- Q You expect to receive $5000 annually for a total period of 5 years. The first receipt of $5000 will commence 6 years from today. Calculate the present value of these...
- Q How could accounting methods, depreciate equipment, and other long-term assets be used to manipulate net income and asset values reported in the financial statements? Are there ethical...
- Q 15. An Independent Auditor is an outsider to an entity. He had to plan out his action seriously and thoroughly. Out of the seven steps in the process of audit...
- Q Protonix Corp has a payroll of $5,290 for a five-day workweek. Its employees are paid each Friday for the five-day workweek. The adjusting entry on December 31, 2015 assuming the...
- Q 2 AJ Company is setting standards for its one product. Direct materials cost from the supplier is budgeted at $11...
- Q Which of the following control procedures most likely could prevent EDP personnel from modifying programs to bypass programmed controls? Physical security of EDP facilities to limit access to EDP...
- Q Complete the note to the financial statement relating to property, plant and equipment provided in your answer book, by using the information extracted from the general ledger of...
- Q Gene contributed $500,000 to an irrevocable trust and did not retain any right to the trusts assets. The income beneficiary of the irrevocable trust was Genes sister,...
- Q Using the attached T-account template, prepare the entries to recognize the following transactions for ABC Company with respect to Inventory Item # 1234 ...
- Q Describe how to open a file in Excel? What is the difference between opening a file and creating a new file in Excel?
- Q Which of the following accounting principles requires businesses to record depreciation?
- Q If a company selects Project 1 then it must also select either Project 2 or Project 3. Which of the following constraints enforces this condition? a. X1 ? X2 ?...
- Q 1. Wyoming Real Estate purchased a building for $600,000 in 2006. At the end of 2018, when it had a book value of $450,000, it was appraised for $1,000,000. A...
- Q Presented below is information related to Metlock Company. Cost Retail Beginning inventory ...
- Q The National Park Service is considering hosting visitors in one of their wilderness areas in Ulu Yam, Selangor. with initial investment of $750,000 the park is projected to have 20,000...
- Q Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $33,760 Accounts receivable 73,584 Accrued liabilities 6,434...
- Q Las cuatro personas siguientes tienen las siguientes inversiones. Importe invertido Tasa de inters capitalizacin alemn $ 12,600 ...
- Q With dividends and capital gains receiving preferential rates, as opposed to being taxed as ordinary income, analysts argue this is causing the budget deficit to increase in the United States....
- Q During the most productive month of the year for the Equipment Maintenance Dept. of Kason Inc, 2,100 machines were maintained at a total cost of $61,500. In its slowest month,...
- Q Factory overhead costs for a given period were 3 times as much as the direct material costs. Prime costs totaled $2,300. Conversion costs totaled $3,640. What are the direct labor...
- Q One of the following statements is correct for a commercial bank, a. The rate of deposits to total assets is low b. The rate of shareholders equity to total assets...
- Q Today Walmarts stock is being traded at $66.12. You buy a future contract that delivers Walmarts stocks in 3 months. Contract size of each futures contract is 100 shares. Find...
- Q Observation of a client's inventory is a presumptively mandatory audit procedure. a. What part should the auditors play in planning the physical inventory? b. Describe the procedures performed by the...
- Q Elkhorn, Inc., which has excess capacity, received a special order for 4,000 units at a price of $15 per unit. Currently, production and sales are anticipated to be 10,000 units...
- Q Department of Labor (DOL) independence rules ________ Address independence and professional ethics equally. Apply only to the entity being audited. Apply to an employee benefit plan audit...
- Q Adams Inc. will deposit $51,200 in a 11% fund at the end of each year for 8 years beginning December 31, 2014. What amount will be in the...
- Q 2. Consider the following narrative describing the process of going to class: Page 63 Larry awoke to his alarm clock buzz. He got up and dressed for the day. Then,...
- Q During 2022 the exploration department ofBubblinCrude Oil Corporation incurred the following costs in exploring theWolfcampbasin. Give the entries: a.Shooting rights12,000 b.Bottom-hole contribution40,000 ...
- Q -The financial statements of Sheffield Manufacturing Company report net sales of $546000 an accounts receivable of $73000 and $83000 at the beginning and end of the year, respectively. What is...
- Q The prepaid insurance account had a balance of $7,500 at the beginning of the year. The account was debited for $8,300 for premiums on policies purchased during the year. Journalize...
- Q The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials $ 124,100 Work in process 118,500 Finished...
- Q Which of the following are true regarding weights assigned to deviational variables? a. The weights assigned can be negative. b. The weights assigned must sum to one. c. The weight...
- Q Scores of an IQ test have a bell-shaped distribution with a mean of 100 and a standard deviation of 14. Use the empirical rule to determine the following. (a) What...
- Q 2. Identify and describe each of the four parts to the AICPAs Code of Professional Conduct. Also discuss which parts are officially enforceable and which are not.
- Q 1 1 Use a VLOOKUP function in cell F25 of the CatastropheCoverageLowActivity worksheet to determine the appropriate Copayment for the first visit to...
- Q intangible assets
- Q acc 308 milestone 1 workbook retainrd earnings statement for payton Approved 12/31/2017
- Q Allen Corporation's required rate of return is 14%. The company is considering the purchase of a new machine that will save $10,000 per year in cash operating costs. The machine...
- Q 8. A relevant cost is ..............? A. Same as a sunk cost. B. Different from an avoidable cost. C. Not the same as a differential cost. D. A cost that...
- Q These questions come from a practice test, so i have the answers but i would really like to know how to get them in the simplest way. 1. Mary Company...
- Q Rodriguez Corporation issues 10,000 shares of its common stock for $228,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. ...
- Q Kourtney Inc had the followinh activities during its most recent period of operations. Issued raw materials to production of $250,000 (85% direct and 15% indirect) Calculate how much cost is...
- Q Fahad Fast Food LLC (FFF) FFF has been a fast expanding company in GCC for the last ten years. While FFF seems to offering low-cost and hygienic food to its...
- Q In 2021 Barton corporation agreed to build a warehouse for 1900000. Expected costs for the warehouse follow: 2022, 300,000; 2023, 750,000; 2024, 375,000. Assume that barton completed the warehouse on...
- Q Why should dollar and relative differences be used jointly in variance analysis? Group of answer choices Because managers need to utilize the budget report to compare actual results to the...
- Q Hi-Tek Manufacturing Inc. makes two types of industrial component partsthe B300 and the T500. An absorption costing income statement for the most recent period is shown...
- Q Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will...
- Q Chapter 12 Impairment In which of the following instances is the firm performing a recoverability test? A. A firm is comparing the future net cash flows expected from the use...
- Q Cameroon Corp. fabrica y vende grapadoras elctricas a $16,10 cada una. Si se vendieron 10 000 unidades en diciembre y la gerencia pronostica un crecimiento de las ventas del...
- Q Andrew is considering starting a business of constructing and selling prefabricated greenhouses. There are three very different methods to constructing these greenhouses, and each method results...
- Q Which of the following is TRUE of the Toxic Substances Control Act? a. It mandates cradle-to-grave tracking of toxic substances. b. It balances interests in determining which...
- Q Sentinel Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $257,000 and will yield the following expected cash...
- Q How Do You Conduct Business Valuation by Using Financial Statements?
- Q Which of the following statements about the general transfer pricing rule is false? When the supplying division has excess capacity, the general rule and the external market price...
- Q Happy Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $160,000 and accumulated depreciation of $80,000. The fair market value of the...
- Q The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced...
- Q From the following lists of accounts, choose the list(s) which contains only expense accounts. Wages expense, unearned revenue, supplies expense Rent expense, supplies expense, accounts payable...
- Q a- The company purchased1, 1000 of the Ada A.. shares at a price of $1,5 / share on July 2019 by the bank. The bank deducted 1% purchase commission and...
- Q What happens if fixed expenses increase? A. Breakeven units decrease B. Contribution margin increases C. Contribution margin decreases D. Breakeven units increase
- Q PC-Clone Inc. Julie Madison, CPA, is the manager in charge of the audit of PC-Clone Inc., a closely- held manufacturer of IBM-compatible personal computers. The company has experienced explosive growth...
- Q Which of the following is TRUE about the alternate valuation date? The alternate valuation date
- Q On January 1, 2020 Paris Company acquired 25 percent of the common stock of Safir Corporation for $250,000, at underlying book value. For the same year, Safir reported net income...
- Q Describe and illustrate the use of horizontal analysis in evaluating a companys performance and financial condition.
- Q 1. Summarize the key points of interest if the company fell on hard times and had to file voluntary bankruptcy. What ethical implications should be considered when debating whether or...
- Q 1. Ashley had $10,000 in credit card debt. She negotiated a settlement with the credit card company. Ashley paid $4,000 of the credit card debt, and the credit card company...
- Q Reversing entries: A.Are optional. B.Are mandatory. C.Correct errors in journal entries. D.Are required by GAAP. E.Are prepared on the worksheet.
- Q Jake steals Don's checkbook, writes out a check for $1000, forges Don's signature, and gets payment from Don's bank. The bank paid in good faith. Who is liable to the...
- Q Assessment of Income from Salary Mr. Mahfuz is a service holder. He received basic salary of Tk. 22,500 in the month of July 2016 following the salary structure...
- Q On June 1, 2016, Kim Wheeler established an interior decorating business, Intrex Designs. During the month, Kim completed the following transactions related to the business. June 1...
- Q Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $879. Selected data for the companys operations last year...
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