Accounting question and answers for January 30, 2024
- Q ?Profitability RatiosProfitability ratios represent the company's ability to convert sales into profits at various degrees of measurement. Profitability ratios take different profit metrics from the income statement and compare...
- Q ?Profitability RatiosProfitability ratios represent the company's ability to convert sales into profits at various degrees of measurement. Profitability ratios take different profit metrics from the income statement and compare...
- Q Soleil (Pty) Ltd (“Soleilâ€), is a South African registered company and a registered Value-Added Tax vendor. Soleil installs solar systems. All amounts include VAT unless otherwise stated. Soleil’s VAT liability...
- Q On 1st January 2020, Mr, Nabard purchased Machinery for $700,000 immediately spent $35,000 for its implementation and $65000 for transportation. Expected scrap value of this asset is $40000. On 1st...
- Q Vravmo (Pty) Ltd, a registered VAT vendor, is an events company in South Africa. On 31 March 2023, the total debtors on its Balance Sheet is R400 000.Included in the total debtors...
- Q Briefly distinguish between net trade receivables and gross trade receivables
- Q for 2024
- Q QUESTION 1 (35 Marks) The following represents the abridged financial statements of Tesco Limited and its subsidiary Diageo Limited. STATEMENT OF FINANCIAL STATEMENT AS AT 31 DECEMBER 2023 Tesco Ltd R...
- Q ids Can Read (Pty) Ltd (“Kids Can Readâ€) is a publishing company that sells and distributes books (and magazines, newspapers, digital content, etc.). Kids Can Read is a registered VAT vendor.  Kids...
- Q loud Nine (Pty) Ltd (“Cloud Nineâ€) is a company that provides long-term stays of a month or more on Airbnb in South Africa. Cloud Nine is a registered VAT vendor...
- Q estimating teh value of goodwill to be included in an offering price can be done under several alternative methods. The excess earnings approach is frequently used. i
- Q Bob, an IRS tax law-certified volunteer preparer, told the taxpayer that cash income does not need to be reported because the IRS does not know about it. Bob indicated NO...
- Q QUESTION 1 (continued)REQUIREDFor each sub-question below, remember to:Ignore taxation and the time value of money;Clearly show all your calculations in detail; andWhere necessary, indicate irrelevant amounts/adjustments with a R0 (nil-value).(a) ?Discuss how...
- Q ?Expense RatiosExpense ratios represent show how much of a company's revenue is being absorbed by specific expense categories such as cost of goods sold, SG\&A, ?interest, and tax?Using the...
- Q 4- ?Yaprak gübresi uygulamas?n?n parsel ba??na çilek verimleri üzerine etkisi ara?t?r?lm?? ?ve elde edilen sonuçlar a?a??da verilmi?tir. ?Bu de?erlere göre gübrenin etkisinin olup olmad???n? ?test edersek sonuç ?ne olur (a:...
- Q 3- ?Bir paketleme fabrikas?nda A ve B olmak üzere iki farkl? ?s?n?fland?rma yöntemi ile meyveler, 3 ?farkl? boyutta s?n?fland?r?lmaktad?r. ?Bu üretim bantlar?n?n düzenli çal???p çal??mad???n? ?test etmek amac?yla rastgele seçilen...
- Q the two alternative views of consolidated financial statements are the parent company concept and the economic entity concept.
- Q Year 1Year 2Year 3Year 4Year 5ASSETSTROPICANA LIMITEDCurrent assetsInventoriesNon-current assetsCashTotal assetsSTATEMENT OF FINANCIAL POSITION AS AT 31 ?DECEMBER 2024Property. plant and equipment (carrying value)QUESTIONSAccounts receivableSalvage valueAnewer ALL eueetionsThe Staternent of Financial...
- Q On 1 April 2023, QP Pty Ltd (QP) purchased a new sedan car for $50,000, the car was for the exclusive use of Sam, the associate director. On the day of...
- Q 141605NuemhNumber405060Periods050601949%Ox961ON041O34tON239%Refer to the investment opportunites for 2026 ?and calculate the folowing lgnoretaxes Use only the fou-decimals present value tabies that appear ater question 23or in the module guide2.1 ?Payback Period...
- Q MRANGARINI (T) Ltd prepares the budgets at the beginning of every year.   At the beginning of financial year 1st April 2023, you got the data from its records. MRANGARINI (T) LTD. Balance sheet...
- Q Ryder plc granted share appreciation rights (SARs) to its employees on 1 November 2022 basedon ten million shares. The SARs provide employees at the date the rights are exercised with...
- Q The Stenny and Homer partnership is considering three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows.Capital investmentProject...
- Q Briefly explain whether a receipt from the sale of an asset is either capital or revenue in nature
- Q All of the following would require use of the equity method for investments except.Multiple Choiceinterchange of managerial personnel.valuation at fair value.investor participation in the policy-making process of the investee.technological dependency....
- Q ?Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations:```Variable costs per unit: ? ...
- Q 1.1 Anne is a sole proprietor of Fashion X, selling clothing in Cape Town. The current financial year ends on29 February 2024.The following information relates to the business activities:1) Profit...
- Q The primary purpose of a financial statement audit is to provide an opinion about whether an entity's financial statements are presented fairly in all material respects in conformity with an...
- Q Data Analytic Analyze Motor Vehicle Taxes by State
- Q The Stenny and Homer partnership is considering three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows.Capital investmentProject...
- Q Show me the steps to solve Question 4.3(Total: 14 ?marks)The following information summarizes the company's cost structureAssume that all of the activity levels mentioned in this problem are within the...
- Q Show me the steps to solve 1. ?Please list the activity as either, "Batch-level", "Unit-level", "Product-level", "Customer-level" or "Organization-sustaining".
- Q Securicom (Pty) Ltd (“Securicomâ€) is a South African company that provides and installs security systems. The company is not a registered VAT vendor and it has a 31 January year...
- Q Show me the steps to solve Question 4.4(Total: 39 ?marks)The following is Silver Corporation's contribution format income statement for last month:The company has no beginning or ending inventories and produced...
- Q The following transactions occurred in the books of Electric Warehouse during April 2021. Required: 1. Enter the following transactions in the Cash Receipts Journal, Cash Payments Journal and Petty Cash Journal.2....
- Q Costs that have already been incurred and can not be changed by decisions made in the current period or in future periods are called costs. (Enter only one word per...
- Q How closely should politicians follow public opinion in making their decisions?
- Q how is ALLOWABLE DEPRECIATION of a home office or workspace factored in to the sale
- Q How closely should politicians follow public opinion in making their decisions?
- Q QUESTION THREE [25] YDK Ltd manufactures a single product and uses a standard variable costing system to record all transactions. You have been given the following budget information for the accounting...
- Q A form of a business, in which there are two classes of equity owners based on their involvement with the management of business and exposure to the risks and rewards...
- Q Which of the following choices is NOT a type of asset that a company must manage to be successful?Entrepreneurship assetsPhysical assetsFinancial assetsIntellectual property assets
- Q The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2023:\table[[,Plant Asset,Accumulated Depreciation],[Land,$500,000,$-
- Q ope’s Garage had the following accounts and amounts in its financial statements on December 31, 2022. Assume that all balance sheet items reflect account balances at December 31, 2022, and that all...
- Q Question 4Study the scenario below and answer the questions that follow.Eco BruEco Bru purchases organic coffee in bulk for re-sale. The supplier is Peacock Tea \& Coffee (Peacock). ?The coffee...
- Q The taxpayer is provided with a copy of their tax return and a California E-File Return Authorization for Individuals FTB Form ______. There is an alternate FTB Form ______ that can be used when the Practitioner PIN method is...
- Q Pina Colada Corp. follows IFRS and sells its products in expensive, reusable containers that can be tracked. The customer is charged a deposit for each container that is delivered and...
- Q In a community property state (such as California) income generated from community property is community income and community income must be ___________ between spouses or California Registered Domestic Partners when a...
- Q Required 1Required 2Fill in the following table with your estimates of the company's total cost and average cost per cup of coffee at the indicated levels of activity.Note: Round the...
- Q (b) ?The Fair Deal Granary was not maintaining a perpetual inventory system for its stocks unit recently. Only physical inventory was taken at the end of each month. The physical...
- Q What is the Cash balance in the Trial Balance?Group of answer choices20500225502155020800
- Q For the 2023 tax year, a taxpayer with a filing status of single had an income of $180,000. Which of the following statements regarding their itemized deductions is correct? Question 36Select...
- Q Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs based on machine-hours. At the beginning of the...
- Q in 2020, susan transferred a machine with adjusted basis of 40,000 and $30,000 fair market value to JPC Corporation in return for 60 shares of stock. The stock...
- Q Property sales under the amount of ____________ are not subject to the mandatory California income tax withholding rule for all sales of real property in California.Review Later$500,000$200,000$100,000$47,000
- Q Investing activities are important, but they are less critical than operating activities.Question 1 options:TrueFalse
- Q help Three fund managers have been sentenced to 12 ?years and three months following a sevenyear investigation into their fraudulent handling of the Libyan sovereign wealth fund.The UK's National Crime...
- Q David, age 31, and Ellen, age 30, are married and will file a joint return.They cannot be claimed as dependents by any other taxpayer.David and Ellen have no children or...
- Q QUESTION TWO [25] 2.1 List two (2) users of financial statements. (2) 2.2 List three (3) elements of the financial statements. (6) 2.3 Define the following terms with examples, 2.3.1 Non Current Asset...
- Q Which of the following are required to file annual reports with the Securities and Exchange Commission? Question 17 options:proprietorshipspartnershipspublic corporationsclosely held corporations
- Q In order to become an Electronic Return Originator (ERO), you must file fill out and send Form _____ to the IRS by paper mail.Review Later877388638879There is no longer any mailing...
- Q A taxpayer incurred unreimbursed business moving expenses. Which of the following best describes the treatment of the business expenses under California tax law. Question 8Select one:a.They are never deductible as an...
- Q Regarding Gross Receipts for a California business, which of the following statements is correct?Question 5Select one:a.Amounts realized on the sale or exchange of property is to be reduced by the...
- Q John bought his principal residence for $250,000 in May of the prior tax year. He sold it on May 3, of the current tax year, for $400,000. What is the...
- Q Generally, if an employer pays for an employee's health, or medical insurance under a “cafeteria†plan, (which is a plan that gives the employee a certain amount of money that...
- Q Which of the following residential energy efficient property purchases will count towards receiving the Residential Clean Energy Credit Credit?Question 114Select one:a.Purchase of solar electric propertyb.Purchase of solar water heating propertyc.Purchase of...
- Q Financing cash flows relate to ____________ and owners’ equity.Question 16 options:current liabilitieslong-term liabilitiescurrent assetnone of the above
- Q Operating activities create revenues, expenses, gains, and losses—net income, which is a product of accrual-basis accounting.Question 15 options:TrueFalse
- Q Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials):Inventory balances at the beginning and end of the year...
- Q On a statement of cash flows, “cash†means more than just cash in the bank. It includes cash equivalents, which are short-term investments that are readily convertible to known amounts...
- Q The Alternative Minimum Tax (AMT) can be initiated by certain types of tax adjustments and preferences. These include ______.Question 120Select one:a.Deferral itemsb.Exception itemsc.Exclusion itemsd.All of the abovee.A and C
- Q Linda and Marc have an adjusted gross income under the maximum wage allowances for the Earned Income Credit. They have a filing status of married filing jointly and they posses social...
- Q Dollars in Millions Except Share and Per Share Amounts Consolidated Balance Sheets As of December 31, 2022 2021 Assets Current Assets Cash and cash equivalents  $           775  $         832 Receivables (net of allowances of $70...
- Q ?_________ note that there is no consensus on the classification of interest paid or interest and dividends received.Question 5 options:IFSRIFRSASPENone of the above
- Q The statement of cash flows covers a span of time and therefore is dated “For the Year Ended December 31, 20XX†or “For the Month Ended June 30, 20XX.â€Question 4 options:TrueFalse
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!