Accounting question and answers for October 29, 2023
- Q The rest of the details: Gadgets, Inc. is incorporated and will begin operations on January 1, 2019. Its primary business is the manufacture and sale...
- Q Justin Hay Corporation uses the cost formula Y = $65,500 + $5.25X for the MOH cost, where X is machine-hours. The August budget is based on 42,000 Machine hours of...
- Q E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of...
- Q What is the fixed overhead spending variance? A. $4,850.00 favorable B. $8,300.00 unfavorable C. $8,300.00 favorable D. $4,850.00 unfavorable
- Q Cul de las siguientes no es una caracterstica de una disposicin? Seleccione uno: a. Una obligacin posible cuya existencia ser confirmada por la ocurrencia o no de eventos...
- Q Spartan Sportswear's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory $ 170,000 Total assets $ 845,000...
- Q Use the following information to answer the given questions. Mandela (Pty) Ltd 2022 2021 Market Price Per Share 4 550,44(2022) 5 452,20(2021) Dividend Per Share 125,50(2022) 130,50(2021) Earnings Per Share...
- Q Gamma Corp. had total sales of $3,300,000 for the fiscal year ending on December 31, 20X1. The company's costs of quality are as follows: Product liability $219,000...
- Q what is quality costing? illustrate using appropriate example?
- Q What is the cost per equilvalent unit for materials? Required information [The following information applies to the questions displayed below.) Clopack Company manufactures one...
- Q Question: There could be more than one offer in a scenario and therefore, more than one offeror and offeree. In those instances, be specific about which party is the offeror...
- Q What is the connection between the extent of decentralization and the investment center concept?
- Q how do i need to calculate the depreciation expense if there were no dividends paid during the year? All i have is the balance sheet. Can someone advise me or...
- Q oder each of the following transactions, identify which of the following transactions would be Lassified as a current liability and which would be classified as a non-current liability....
- Q please do an income statement, statement of retained earnings and a classified balan ce sheet. ...
- Q Future Value of an Annuity Due What is the future value on December 31, 2025, of 6 annual cash flows of $50,000 with the first cash flow being made on...
- Q Identify all false statements about LIFO. LIFO has higher recordkeeping costs because a firm has to keep many layers of inventory over many years. Using LIFO for product...
- Q Mr. Agirich of Aggie Farms is considering the purchase of 100 acres of prime ranch land that is adjacent the ranch he...
- Q Omega Finance granted a 10%, 2-year P5,000,000 loan to Duchess Company onJanuary 1, 2017. The interest is payable every December 31 for each year during the term of the contract....
- Q Section 162 provides the general rule that expenses incurred in a trade or business are deductible. Reg. $1.162-5 elaborates on the deductibility of A.Travel expenses. B.Expenses of farmers....
- Q ABC has one 80% controlled Subsidiary, DFG. DFG purchases 2" steel rods to make fastener with their CNC screw machines. They can make 4" to 1/8' fasteners, screws. When the...
- Q Exercise A-17 (Static) Present Value Analysis in Nonprofit Organizations The Minock Group, a nonprofit organization that does not pay taxes, is considering buying laboratory equipment with an estimated...
- Q Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an...
- Q 10. what is the survival rate at the end of three years if the annual default probabilities are 8%, 10% and 16% in the first second,...
- Q Required: 1. Determine the payback period of the investment. 2. Would the payback period be affected if the cash inflow in the last year were several times as...
- Q How can you address Cost Management with inefficiency Lean Manufacturing or Six Sigma
- Q Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50...
- Q Sandhill 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 In a forest area, the forest department wants to place a total of 10 sensors for detection fire, one sensor for each point defined on the map below. ...
- Q Net income was $468,000. Issued common stock for $78,000 cash. Paid cash dividend of $14,000. Paid $110,000 cash to settle a note payable at its $110,000 maturity value. Paid...
- Q If beginning was $18,200, purchases during the period totalled $65,400, freight inwards was $1,800, freight outwards was $3,100 and ending inventory was $16,500, cost of goods (sales) is ....?
- Q Which accounting principle allows for small variations in amounts that do not alter the perception of the users of Financial Statements? Where on the statement of cash flow you will...
- Q Banning Company uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $1,300. During the year...
- Q Solve this Economic question now. On white pages Q)A loan of SA is taken out today at j4 = 6%, repaid over n-years with quarterly payments of $2793.28....
- Q Which of the following is NOT true for variable manufacturing overhead costs in a standard costing system? Multiple Choice No volume variance is ever reported. The slope of the...
- Q Thurman Corporation issued 460,000 shares of $0.50 par value capital stock at its date of incorporation for cash at a price of $5.0 per share. During...
- Q Baxter Manufacturing produces machine parts on a job-order basis. Most business is obtained through bidding. Most firms competing with Baxter bid full cost plus a 20% mark-up. Recently, with the...
- Q A telephone company purchased microwave radio equipment for P6,000,000. Freight and installation charges amounted to 3% of the purchased price. If the equipment shall be depreciated over a period of...
- Q Describe the three line items of the multi step income statement. Explain why it would be important for a company to break out its income in this manner.
- Q TB MC Qu.16-62 (Static) The valuation allowance account that is... The valuation allowance account that is used in conjunction with deferred taxes relates: A. Only to deferred tax liabilities. B....
- Q Using the three components of the fraud triangle (page 473), explain why a student may cheat on an exam. Is this fraud? Is this ethical?
- Q 2. An online take-out food selling system is used to help restaurants sell food to customers. Restaurant managers and customers need to register in the system by creating...
- Q what is the difference between supplies and inventory in accounting transactions and journal entries
- Q emi Tale is a Financial Analyst with a Canadian public company. In 2022, she had net and taxable income of 105,625 , all of...
- Q 1. A new machine increases fixed cost and may or may not increase ATC as the may decrease. Why
- Q 5.On 1 January 2014, a small company had an allowance of doubtful debts of RM1,000. During 2014, debts of RM600 were written off and RM80 was paid by...
- Q On May 2, 2019, Karen placed in service a new sports utility vehicle that cost $60,000 and has a gross vehicle weight of 6,300 lbs. The vehicle is used 100%...
- Q The Dooley Co. manufactures two products, Baubles and Trinkets. The following are projections for the coming year, Baubles 19,000 units $ 19,000 Trinkets 9,500 units $...
- Q Data Table Eagle System assembles PCs and uses flexible budgeting and a standard cost system Eagle System alocates overhead based on the number of direct materials parts. The...
- Q Hecack in wach denartment ars an fofines
- Q Prince Company's total overhead costs at various levels of activity are presented below. Total Machine Overhead Month Hours Cost September 119,500 $560,340...
- Q apital Budgeting Assignment Saved B2B Company is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment costs...
- Q What is the reason behind inflation
- Q Question 1 (20 marks) ABC, Inc. manufactures a product, plastic pipe that goes through three departments prior to completion. The following information is available for work in the...
- Q On January 1, 2021, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2021: Beginning inventory Net purchases Net markups Net...
- Q El 1 de octubre de 2017, Holt Company pone en servicio un nuevo activo. El costo del activo es de $120 000 con una vida til estimada de 5 aos...
- Q Carla Vista Enterprises issued 8%, 8-year, $2,950,000 par value bonds that pay interest annually on April 1. The bonds are dated April 1,2025, and are issued on that date. The...
- Q What is producer surplus ? How is it illustrated on a demand and supply diagram
- Q A company must decide between scrapping or reworking units that do not pass inspection. The company has 16,000 defective units that have already cost $132,000 to manufacture. The...
- Q Following is information on two alternative investments projects being considered by Tiger Company. The company requires a 10% return from its investments. PV of $1. FV of...
- Q In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related...
- Q Compute cost of goods sold using the following information
- Q The following information relates to the Falcon Division of Xenon Enterprises: 8 04:52:22 Interest rate on debt capital Cost of equity capital Market value of debt capital...
- Q 1. Mr. Michaluk has a $50,000 personal (revolving) line of credit with the Canadian Imperial Bank of Commerce (CIBC). The loan is on a demand basis at a floating rate...
- Q What is a positive externality
- Q Assume the following information: Amount Per Unit Sales $ 600,000 $ 40 Contribution margin $ 360,000 $ 24 Net...
- Q Problem 6-24 Companywide and Segment Break-Even Analysis; Decision Making (LO6-4, LO6-5] Toxaway Company is a merchandiser that segments its business into two divisions-Commercial and Residential. The company's accounting...
- Q See the Schedule B of Form 941 below. It is a deposit schedule for semiweekly depositors. What does the circled number in red mean? If this...
- Q ! Required information Use the following information for the Exercise below. (Algo) The following information applies to the questions displayed below.]...
- Q If a company has only a few long-lived assets of relatively high value, the most efficient approach for an auditor would be to use tests of details for obtaining evidence....
- Q Which project management approach is most suitable for Quadrant 3 projects?
- Q Exercise 10-19 Larkspur Company exchanged equipment used in its manufacturing operations plus $3,960 in...
- Q Under the double-entry accounting system, no more than two accounts can be affected by each transaction. True False
- Q At the beginning of 20X1, Zn1 Hospital reported Accounts Receivable $10000 and Allowance for Uncollectible Accounts $1800 (credit). During 20X1, before recording the year-end adjusting entries, the Hospital recorded credit...
- Q Determine the dollar amount and direction (cash source-positive or use-negative) of cash flows from investing activities.
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