Accounting question and answers for January 28, 2024
- Q The accountant must exercise their professional judgement in making relevant choices between alternatives.Discuss this statement and consequences thereof. 20 marks
- Q 5. Depreciation (26 marks) Assume that at the beginning of Year 1, Sweet Chocolate Factory purchased a machine at a cost of $85,000. The Company expects that...
- Q What is the difference between a bank balance and an adjusted bank balance?
- Q Briefly summarise GST regulations and obligations with reference to GST classifications and relevant materials and provide the correct BAS code for each of the tabled activities (in Australian Accounting Environment)...
- Q Myway Company sold equipment to a Canadian company for 100,000 Canadian dollars (C$) on January 1, 20X9, with settlement to be in 60 days. On the same date, Myway entered...
- Q Bonds are assigned ratings that reflect Question 7 options: The value of the rate of return ...
- Q QUESTION 11 Riverboat Adventures pays $325,000 to buy out a competitor's plant assets. The real estate consists of land appraised at $35,000, a building appralsed at...
- Q On January 1, 2018, Cobbler Corporation awarded restricted stock units (RSUs) representing 27.3 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated...
- Q QUESTION 4 Prepare the following for June and July 2022 from the information provided below. 4.1 Debtors Collection Schedule (4 marks) Cash Budget (16 marks) INFORMATION The information provided below...
- Q You are Running a 98-room hotel you sold 500 rooms in the past week. Then what is your occupancy percentage? (show your work of the calculations below)
- Q Sales mix and break-even analysisMegan Company has fixed costs of $1,095,920. The unit selling price, variable cost per unit, and contribution margin per unit for the companys two...
- Q Identify and describe the factors important in assessing an audit client's business risk and risk of material financial misstatement.
- Q 1.O'Briens Construction Ltd exchanged equipment that had a book value of $40430 for a truck that had a book value (in the other entity's books) of $39522. The fair value...
- Q Hi can i get a detailed calculation for : Current ratio,quick ratio,receivable turnover,return on ordinary shareholders equity,return on assets for 2019 and 2018. below i have provided the...
- Q 1 point 15) When a corporation sells shares directly, it pays a brokerage house to issue the shares. * O True O False
- Q 1. If the food cost is $250,000 and the total labor cost is $300,000, what is the prime cost? Group of answer choices $300,000 $250,000 $50,000 $550,000 2....
- Q 1. Willis and Adams, CPAs uses the template shown below in the "Audit Planning Memorandum" to prepare the planning memo. Some portions have already been completed or begun. Brief descriptions...
- Q Exercise 12-3 Make or Buy a Component [LO12-3] Troy Engines, Ltd., manufactures a variaty of engines for use in heavy equipment. The company has always produced all of the...
- Q December 31, 2025. Journalize Zepher Ravine Company's adjustment to record bad debts expense assuming Zepher Ravine Company estimates...
- Q 1. Determine what type of cost each cost item is: direct materials, direct labor, manufacturing overhead, selling...
- Q The Saint Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of Saint Lucia. The blood bank just finished its operations...
- Q QS 13-4 (static) Horizontal analysis LO P1
- Q Helen loans her son Ricky, $25,000 to help with the purchase of a car and other personal expenses. Due to her affection for her son, Helen charges Ricky zero interest....
- Q Which of the of the following statements about capital accounts is true? A. maintenance of capital accounts reflects accounting income or loss rather than taxable income...
- Q A 3030-year accumulation bond with an initial par value of $10001000 earns interest of 7.27.2% compounded bimonthly. Find the price to yield an investor 99% effective.
- Q Let's discuss bonds! Why do companies issue bonds when they can issue stock? What are the advantages in issuing bonds? Aren't there any drawbacks of issuing bonds? Can anybody...
- Q The following transactions apply to Walnut Enterprises for Year 1, its first year of operations: Received $50,000 cash from the issue of a short-term note with a...
- Q Choose a local contractor or manufacturer in your community and suggest which costing system would be most appropriate for the company. Explain why the costing system you chose is the...
- Q Isabella files her income tax return 180 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check...
- Q Financial statement data for the current year for Hanz Corp. are as follows: Net income $5,700,000 Preferred dividends $70,000 ...
- Q Rockin Rick MusicRockin Rick Music Company uses a perpetual inventory system. The adjusted trial balance of Rockin Rick MusicRockin Rick...
- Q The general level of interest rates is influenced primarily by Question 8 options: Federal Reserve policy ...
- Q I need cash budget, budgeted income statement, and budgeted balance sheet. a. The company's single product sells for $60 per unit. Budgeted sales in units for the next four...
- Q At December 31, 2021 and 2020, Nolan Corp. had 180,000 shares of common stock and 12,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No dividends were...
- Q United Airlines 2023 balance sheet reported the following (in millions) Total Assets $40,091 Total Liabilities 31,485 Contributed Capital 3,573 What was United Airlines total liabilities and stockholders equity on December...
- Q 4 When the auditor concludes that there is substantial doubt about the entity's ability to continue as a going roncern, the appropriate audit report coulcl be O a. Neither A...
- Q The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit...
- Q What is the present value of a $200 payment in one year when the discount rate is 7 percent? (Round your answer to 2 decimal places.) Present value $
- Q what is a creditor?
- Q 25. Discontinue a Segment Product Tango has revenue of $194,800, variable cost of goods sold of $113,900, variable selling expenses of $33,100, and fixed costs of $60,000, creating an...
- Q trumpet company produced 10,500 units of their product that required 3.5 standard hours per unit. the standard variable overhead cost per unit is $3.75 per hour. the actual variance factory...
- Q For example, of the $46,000 ending balance in work in process, $22,080 was overhead that had been applied during the year. Required:...
- Q 92. On September 1, Hydra purchased $9,500 of inventory items on credit with the terms 1/15, net 30 , FOB destination. Freight charges were $200. Payment for...
- Q SmartSound manufactures headphone cases. During September 2018, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read...
- Q Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 50,500 units will be produced with the following total costs: Direct materials ? Direct labor $66,000...
- Q Using the data below, compute the Times Interest Earned Ratio. 6.00 3.75 6.25 4.75 5.25
- Q In 2021, the company accrued wages payable $78,000 and will make the payment in 2022. Taxable income for 2021 is $713,000, the enacted tax rate is 20% for...
- Q On June 1, 2022, Judith purchased a $10,000 corporate bond at par value. She purchased the bond in between interest dates, as the bond pays annual interest of 5% on...
- Q Conduct a (9-quadrant) TOWS matrix analysis of the University of Professional Studies, Accra. (Note: show the numbering of the specific internal and external factor being matched to arrive...
- Q The Career Skills Teamwork Assignment is as follows: Your roommate asks for your help on the following questions about CVP analysis formulas. 1. How can the mathematical equation for break-even...
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