Accounting question and answers for September 01, 2023
- Q Can you add closing journal entries please
- Q 1. What are the main reasons that 85% of all small companies fail in the first 5 years? How can budgeting prevent failure?
- Q : Hawthorn corporation adjust trial balance contained the following accounts at December 31,2017. Retained earnings 120000. Common stock 114000. Trade marks 31000. Preferred stock 152000. Common stock 55000. Deferred income...
- Q Prepare cash disbursements and Receipt journals Abstract \#2
- Q At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,140; Prepaid Insurance, $440; Equipment, $35,600 and...
- Q What are the sources of income that may be relied upon to remove the need for a valuation allowance?
- Q The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable Accounts receivable $2,773 598 Supplies 1,500 1.500...
- Q Chapter 04 Problems Saved Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent...
- Q The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2021: ($ in 000s) Jan. 1 Dec. 31 $4,400 $ 4,680 3,730 3,980 4,980...
- Q CASE STUDY I (Theory of Auditing and Financial Accounting, measuring general knowledge and skills building in area) 70 points OVERSTATING INVENTORY BALANCE...
- Q The breakeven point is the volume at which A) The company has recovered all costs B) The company has recovered only the fixed costs C) The company has recovered only...
- Q Are all long-lived assets depreciable? Why, or why not?
- Q what would be classified as a product or period cost under variable costing at a retail clothing store?
- Q Required information The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is...
- Q On January 31, Outback Coast Resorts Inc. reacquired 18,700 shares of its common stock at $45 per share. On April 20, Outback Coast Resorts sold 10,600 of the reacquired shares...
- Q what is the formula to calculate the margin of safety?
- Q Strategic Management 1. Companys current strategies: describe the strategies and use supporting materials to explain what the strategies are. Based on the evidence of the last 3-5 years of operations,...
- Q Three identical units of Item Steele Plate are purchased during March, as shown below. Item Steele Plate Units ...
- Q Economic Value Added (EVA) is a measure of performance evaluation which is similar to Residual Income (RI) expect It focuses manager attention on internal assessment of performance ...
- Q Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two children, so they claim a total of 4 exemptions. In addition, they...
- Q X Data Table Static Actual Results Budget 140 230 322 The Radius Corporation (June 2017) Number of centrifuges assembled and sold Hours...
- Q Tory Enterprises pays $242,400 for equipment that will last five years and have a $44,000 salvage value. By using the equipment in its operations for five years, the company...
- Q 4. An estate "to Angela for the life of Belinda" is an example of: A life estate measured on the life of Belinda. A fee simple determinable. A...
- Q Below is Company A's balance sheet at the end of 2022. What is the total current liabilities of Company A? 2022 Liabilities and Equity Amount Accounts...
- Q Employee benefits can arise from: I. government legislation. II. specific industry arrangement. III. workplace agreements between an entity and its employees. IV. enterprise bargaining agreements between an entity and the...
- Q (Please show work) A company's board of directors votes to declare a cash dividend of $.91 per share. The company has 16,000 shares authorized, 14,000 issued, and 13,800 shares outstanding....
- Q Why would a manufacturer who produces its products based on customer specifications choose to use job costing to track its manufacturing cost ? A) to minimize...
- Q The Clampett Corporation reported the following income statement for 2024 and comparative balance sheet for 2024 and 2023, along with transaction data for 2024 : (Click...
- Q 1. Chapter 15. Presented below are three independent situations. For each independent situation, prepare the appropriate journal entry for the redemption of the bonds. a) Longbine Corporation redeemed...
- Q Suppose in its 2017 annual report that McDonalds Corporation reports beginning total assets of $28.45 billion, ending total assets of $30.25 billion, net sales of $21.45 billion, and net income...
- Q Joe Sixpack Inc. is considering an investment that will cost is $400,000. The investment is expected to return the following cash flows, discounts at 8% Year 0...
- Q ! Required information Chapter 7: Applying Excel Step 1: Download the Applying Excel form located on the left-hand side, under files. Step 2: Then enter formulas in all...
- Q Question 11 List two (2) examples of data required for purchases in calculating taxable income. 1. 2
- Q 2. Maria is one of two directors and shareholders of a company. David is the other director and shareholder. Maria wants to borrow $100,000 for both the company and for...
- Q Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is estimated to be 5 years, or...
- Q Sunland Company entered into these transactions during May 2017, its first month of operations. 1. Stockholders invested $38,000 in the business in exchange...
- Q 4. (TCO I) Accounts Receivable - For each of the following, please explain if an auditors review of the clients sales cutoff would detect these problems: (a) Would excessive goods...
- Q Which of the following is an exclusion preventing cancellation of debt income from being recognized as taxable, as opposed to an exception? a) All student loans b) Deductible debt c)...
- Q As maintenance costs on equipment have been steadily rising every year, Lila Ltd has been setting aside regularly a provision for plant maintenance at an increasing amount. The provision has...
- Q Do not solve on Excell, work it out on paper. Thanks Question#3) Calculate the IRR for the following cash flow diagram. $125 $10 $60
- Q UTEP Accounting / I need caulculate the Journal entries 4 de 16 Background Rockin' Roller Blades is a roller blade shop...
- Q 2. New equipment is purchased for $ 40,000. It has a residual salvage value of at the end of the 10 years $ 2,500.00. Desired rate of return 12%. Operating...
- Q Required: 1-a. Assuming an annual discount rate of 10%, calculate the present value of the contract amount. 1-b. Which of the four actors is actually being...
- Q Experiments Trial 1 Trial 2 1 61 83 2 59 94 3 41 106 ...
- Q Carns Company is considering eliminating its small tools division, which reported an operating loss for the recent year of $103,000. Division sales for the year were $1,490,000 and its variable...
- Q 1. CAUSES OF AGENCY PROBLEM 2. WAYS TO REDUCE AGENCY COST
- Q Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the...
- Q Show your solution. 1. (Given: Face amount - 800,000; Effective interest= 14% ). The note is due in four equal annual installments. The first installment is due one period from...
- Q Which of the following statements concerning agency funds is true? Agency funds use the same basis of accounting as permanent funds Agency funds are reported only on the statement...
- Q A company that uses job order costing reports the costs incurred below. Overhead is applied at the rate of 52% of direct materials cost. The company...
- Q
- Q Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $22,800 ($1,900/month) in advance on October 1. 1.Record the payment of rent in advance...
- Q Division 1 sells one of its products to Division 2. The product cost is 160 for materials, 60 for direct labour, 10 for variable overheads and 110 for fixed overheads....
- Q A $505,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for $462,000. Journalize the redemption of the bonds. If an amount box does not require...
- Q A company obtained a contracting contract amounting to 8000, the total costs in the first year are 4424, the remaining costs are to complete the contract 1475, the percentage of...
- Q Find the sinking fund payment you would need to make at the end of each year, at 5% interest compounded annually, to amount to $8,000 in 2 years. (Use the...
- Q Saby Corporation's break-even-point in sales is $950,000, and its variable expenses are 70% of sales. If the company lost $45,000 last year, sales must have amounted...
- Q HW 7 Q 2
- Q (TCO C) Purchasing inventory is an example of a(n) operating activity. investing activity. financing activity. noncash investing and financing activity
- Q 3a) If a computer based training program benefits are $153,000 and training program costs are $7,000, what is the return on investment? b) Fialho Corp decides to purchase a "Efficiencies...
- Q A customer purchased 200 units at $5 each on account and later returns 50 units. The units cost the seller $2 each. What entry (or entries) would the seller make...
- Q the amount by which company's sales can decline before losses are incurred is called?
- Q Under what circumstances are property taxes and certain other expenses owed at death deductible on both form 706 and form 1041?
- Q 4. (TCO D) There are four major sources of legal liability for a CPA. In addition there are defenses to such liability. List the sources of legal liability and provide...
- Q Farina Bays computer system generated the following trial balance on December 31, 2013. The companys manager knows something is wrong with the trial balance because it...
- Q Solve for missing amounts! (Highlighted in yellow)thanks so much! Nm 2 Presented below are incomplete financial statements for Marta Communications Company. 3 4...
- Q Why is it important to take a physical inventory periodically when using a perpetual inventory system? explain in 150 words
- Q Company had $1,000 prepaid insurance at the beginning of the year. At the end of the year, half of the insurance has expired. The appropriate journal entry would be? ...
- Q 10. A car manufacturer's finishing plant orders 25,000 frames per year for P25 cach. What is the EOQ if the ordering cost per onder...
- Q Stock shares that are reacquired by the issuing corporation are
- Q 1.Sport Direct, a sport stuff shop. At the beginning of the current season, the ledger of Sport Direct shop showed cash $2,200, Inventory $1,800, and Share capital - Ordinary $4,000....
- Q What could be the main reason for shifting profits from one country to another (using Transfer Pricing policy)? To avoid being double-taxed (charged in 2 different countries) ...
- Q Sunk costs are never relevant because A) They change between decision alternatives B) They are fixed costs C) They have already been incurred and cannot be changed D) They were...
- Q Write a C program to save 10 numbers in array and then find and display the sum of these numbers
- Q Identify the following users as either external users (E) or internal users (I)
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