Accounting question and answers for November 27, 2023
- Q A company issued 11%, 5-year bonds with a par value of $85,000. The market rate when the bonds were issued was 12%. The company received $81,872 cash for the bonds....
- Q Daniels plc operates a defined-benefit pension plan for all employees who commenced employment with the company on or before 1 January 2012. At 31 December 2021, Daniels plc had included...
- Q Ejercicio 5-18 Anlisis del punto de equilibrio y del beneficio objetivo; Margen de seguridad; Relacin de CM [LO5-1, LO5-3, LO5-5, LO5-6, LO5-7] Menlo Company distribuye un...
- Q 4) Holly Transport Inc. had the following transactions related to accounts and notes receivable. Apr. 1, 2013 Accepted Brando Company's 1-year, 12% note in settlement of a $25,000...
- Q FOUR [25] Success Limited registered with the CIPC and the Certificate of Commencement was issued on 1 July 2022. Authorised share capital was granted as follows: 900 000 Ordinary...
- Q La medida en que un competidor dado posee una dotacin estratgica comparable, en trminos de tipo y cantidad, a la de la empresa focal, se refiere a la similitud...
- Q Explain the following terms in your own words : Price fixing : Perfect competition :
- Q What are the two variances between the actual cost and the standard cost for direct materials? What are the two variances between the actual cost and the standard cost for...
- Q Lee corporation will generate earnings of $120,000 per year in perpetuity as long as no investments are made. However one year from now Lee can invest $150,000 in a project...
- Q When the materials price variance is recorded at the time of purchase, raw materials are recorded as inventory at standard cost. True or False?
- Q 1. What is the difference between "traditional" and "activity-based" costing? 2. What types of companies would benefit from ABC costing? Explain?
- Q Amy's Antiques decide retirar una gran pieza de equipo con un valor neto en libros de $11,845. Antes de la jubilacin, Amy's Antiques tena un pasivo total de $100 000...
- Q Section 1231 Gains and Losses, Depreciation Recapture (LO 8.7, 8.8) William sold Section 1245 property for $26,000 in 2022. The property cost $40,000 when it...
- Q choise 20 Which of the following is developed by accounting organisations to govern the behaviour of their members? a. Code of business b. Code of accounting c. Code of profession...
- Q Herrich Company and Thomas, Inc., are department stores. For the current year, they reported a net income after tax of $400,000 and $600,000, respectively. Is Thomas, Inc., a more profitable...
- Q Depreciation Expense Using the Double-Declining Balance Method The Pack Company purchased an office building for $4,500,000. The building had an estimated useful life of 40 years and an expected salvage...
- Q Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and to...
- Q GAAP requires companies to disclose any costs of research and development acquired and written off as well as where the information can be found on the income statement. True or...
- Q A company just starting in business purchased three merchandise inventory items at the following prices . First purchased$ 80; second purchase $95; the third $85. If a company sold two...
- Q What entry, if any, would a city make in its government-wide financial statements to record depreciation on its $100 million of roads, which it estimates will last...
- Q The board of directors delcared a 6% share dividend (market value $6.00/share) to shareholders of record on Mar. 1 (market value $4.75/share) to be distributed on Mar. 20 (market value...
- Q Use Targets 2017 annual report filed with the SEC in 2018 for the following calculations. Also, refer to Note 30 for information about the assets associated with discontinued operations. For...
- Q Eaton Company's ledger at the end of the current year shows Accounts Receivable of $150,000. Instructions a. If Allowance for Doubtful Accounts has a credit balance of $4,400 in the...
- Q When High Horizon LLC was formed, Maude contributed the following assets in exchange for a 25 percent capital and profits interest in the LLC: Basis Fair Market Value Maude: Cash...
- Q During Heaton Companys first two years of operations, the company reported absorption costing net operating income as follows: ...
- Q Proper English and grammar MUST be used for the answer: Explain FOB Shipping point. Explain FOB Destination.
- Q 4. To attract industry, a city has made an offer to a corporation. The city will install all roads and services for the plant site at no immediate cost to...
- Q ACME Drilling is evaluating an offshore oil-drilling platform for possible impairment. The company estimates the following: book value, $18.5 million; fair value, $12.5 million; sum of estimated future cash flows...
- Q 73. The report that displays paid time available and paid time used for each employee is the: a. Paid Time Off List report. b. Payroll Summary report....
- Q Smith Company reported pretax book income of $408,000. Included in the computation were favorable temporary differences of $51,600, unfavorable temporary differences of $20,800, and favorable permanent differences of $40,800. Smith's...
- Q At the beginning of the year, manufacturing overhead for the year was estimated to be $429,200. At the end of the year, actual direct labor-hours for the year were 23,300...
- Q La contabilidad gerencial ha sufrido muchos cambios en los ltimos aos. Entre ellas se encuentra un cambio en la atencin hacia las empresas de servicios y la mejora...
- Q Answer following questions: 1, Explain why reducing inventory levels can result in losing the benefits of LIFO 2.FIFO can result in an inventory profit. What is an inventory profit and...
- Q A company purchases a delivery van for $24,000. The van is estimated to have a four-year service life and a residual value of $2,400. During the four-year period, the company...
- Q Department G had 2,400 units 25% completed at the beginning of the period, 12,800 units were completed during the period; 2,000 units were 20% completed at the end of the...
- Q On January 2, Westies Company purchased 30, 10%, $1,000 Boswell Company bonds for $30,000 cash, Interest is payable annually on January 1. On December 31, the company made the necessary...
- Q On January 1, Year 1, Jones Company issued bonds with a $205,000 face value, a stated rate of interest of 8.5%, and a 5-year term to maturity. The bonds were...
- Q One of the commonly used substantive tests for cash balances is to verify bank reconciliations performed by the entity. a) Name the first steps in verifying the bank reconciliation. (12...
- Q Perpetual Inventory Method: Record/journal each transaction and adjustment entry. During the month of March 2017, the following transactions occur. 4 Buy five deluxe mixers on account from...
- Q Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Purchases Sales Dec....
- Q An investment center of Vernon Corporation shows an operating income of $6,888 on total operating assets of $56,000. Required Compute the return on investment. (Round your answer to...
- Q Westerville Company reported the following results from last years operations: Sales $ 1,600,000 Variable expenses...
- Q Happy Ten produces sports socks. The company has fixed expenses of $85,000 and variable expenses of $0.85 per package. Each package sells for $1.70. Begin by identifying the formula to...
- Q Determine the amount of the capital gain or loss in each of the following transactions. a. 100 shares of Bilco stock bought for $8,000 on January 22 of year 3...
- Q Problem #1 Tandy, Inc. is in the business of manufacturing mens and womens leather computer bags. On January 1, 2019 they started their new fiscal year. The following is their...
- Q The pretax financial income (or loss) figures for Marin Company are as follows. 2012 $147,000 2013 244,000 ...
- Q Marvel Parts, Incorporated, manufactures auto accessories. One of the companys products is a set of seat covers that can be adjusted to fit nearly any small car. The company has...
- Q Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2021: Prior...
- Q Data concerning a recent periods activity in the Prep Department, the first processing department in a company that uses process costing, appear below: ...
- Q How do I carry out acritiqeu of an already published paper in a reffered/peer reviwed journal, the paper Must be in the area of Forensic Accounting and legal environment, of...
- Q Gibson Manufacturing Corporation expects to sell the following number of units of steel cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome...
- Q The major assessment task for this subject is designed to be submitted in two parts to enable you to benefit from feedback provided on Part A (Assessment task 2). Assessment...
- Q At December 31, 2018, Newman Engineerings liabilities include the following: $27 million of 9% bonds were issued for $27 million on May 31, 1999. The bonds mature on May 31,...
- Q Struter Partnership tiene un capital total de socios de $420,000, que se compone de Main, Capital, $294,000 y Frist, Capital, $126,000. Los socios comparten las utilidades y prdidas netas en...
- Q To my friendly student tax preparer: Hello, my name is Shady Slim. I understand you are going to help me figure out my gross income for the yearwhatever that means....
- Q SECTION A [30 MARKS] Answer ALL the questions in this section. In order to assist Ingiphile in the preparation of the 2021 financial statements, you are required to read...
- Q First Mortgage Investors purchases a $100,000 Face value MBS carrying a coupon of 9 percent and a maturity of 30 years. 1. What is the monthly payment on the MBS?...
- Q Identify and recommend (with justification/reasoning) Five actions the accounting profession can take to improve corporate social responsibility reporting.
- Q Juan and Desi, two unrelated individuals, decide to form SB Enterprises Inc. as a C corporation. Juan will transfer tangible assets and intellectual property with an aggregate basis of $500,000...
- Q Chown Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $110 ...
- Q Create a Learning Solution Your challenge for this course is to design a case-based learning solution for non-learning leaders wanting to understand learning theory. Intended Audience: any leader who wants...
- Q Discuss the Gross Profit Method and Retail inventory method of estimating inventory. Outline the basic differences between these methods. Provide numerical examples for each method.
- Q Saif Fine Foods (SFF) is a grocery store chain started by Jameel Saif in Karachi in the early 2000s. The chain now has 5 locations with over 200 employees. ...
- Q A machine is purchased on January 1, 2016, for $102,000. It is expected to have a useful life of eight years and a residual value of...
- Q Question 1 Complete the following table showing which accounts to be debited and which are to be credited in the space provided. [YBL1] ...
- Q DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and...
- Q If a partnership assumes the mortgage on an encumbered property, which of the following scenarios is most likely to be treated as nonqualified liability under the regulations for Section 707?...
- Q Bates Company plans to add a new item to its line of consumer product offerings. Two possible products are under consideration. Each unit of Product A costs $6 to produce...
- Q [LO 7-3] Departmental Cost Allocation Logan Products has two production departmentsassembly and finishing. These are supported by two service departmentssourcing (purchasing and handling of raw materials and human...
- Q Piedmont Company segments its business into two regionsNorth and South. The company prepared the contribution format segmented income statement as shown: ...
- Q Which of the following is the correct formula for calculating rate of return on total assets? A. (Net income minus Interest expense) / Average total asset B. Total equity /...
- Q Multiple choice Question 14. . Which of the following are questions an analyst should ask when assessing the economic consistency of a model. I. Are the patterns chartable? II. Are...
- Q On January 1, 2017, Chamberlain Corporation pays $589,600 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $19,900 results from the acquisition. On December 31, 2018, Neville...
- Q The fixed budget for 21,200 units of production shows sales of $424,000; variable costs of $63,600; and fixed costs of $142,000. The companys actual sales were 26,100 units at $476,000....
- Q Terry Fleming is the owner and operator of Go- For - it LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-it has assets...
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