Accounting question and answers for July 04, 2024
- Q \ Pina Manufacturing has provided the following comparative financial statements: \table[[\table[[Pina Manufacturing],[Statement of Financial Position],[As at December 31]]],[Assets,2023,2022],[Cash,$629,000,$567,000],[Accounts receivable,74,000,94,000],[Inventory,108,000,71,000],[Prepaid operating expenses,10,000,11,000],[Long term investments,150,000,100,000],[Equipment,615,000,538,000],[Less: Accumulated depreciation,(78,000),(62,000)],[$1,508,000,$1,319,000],[Liabilities and...
- Q Budgeted data for the same time period for the pharmaceutical segment are as follows (all data are in millions): (Use the ABS function when calculating variances, and use the...
- Q Lajos Company operates a chain of sandwich shops. (Click the icon to view additional information.) (Click the icon to view Present Value of $1 table.) Read the requirements. (Click...
- Q On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 90-day note with a face amount of $96,000. Assume a 360-day year. Required: a. Determine the proceeds...
- Q Glen and Kelly have two children, Ben, age 14, and Cody, age 20.The medical expenses and net income for each member of the family for the current year is...
- Q Wiseman Video plans to make four annual deposits of $6,500 each to a special building fund. The funds assets will be invested in mortgage instruments expected to pay interest at...
- Q The following statement of financial position relates to XYZ Ltd for the years ending 30 June 2019 and 30 June 2020. XYZ Ltd Statement of Financial...
- Q Which of the following is considered a financing activity? Select from the below options: Cash payment of notes payable Cash purchase of a building Cash received from interest on loans...
- Q Rong Company expects cash sales for July of $15,000, and a 20% monthly increase during August and September. Credit sales of $6,000 in July should be followed by 10% decreases...
- Q What are the key features of bonds? Let's also discuss some of the different types of bonds, including hte following. 1. Debenture bonds or collateralized bonds 2. Callable bonds 3....
- Q Question 6 2 Points A company issues a $200,000, 5%, six-year note on January 1, 2021. If the monthly payment is $3,220.99, by how...
- Q Which of the following losses would be covereo by a commerclal General Liability policy? A. A job applicant falls on a slippery floor on the insured's premises...
- Q William Bat became a baseball enthusiast at a very early age. All of his baseball experience has provided him valuable knowledge of the sport, and he is thinking...
- Q departments - Refining and Blending. Raw materials are introduced at various points in the Refining Department. The following incomplete Work in Process account is...
- Q James Corporation owns 80 percent of Carl Corporations common stock. During October, Carl sold merchandise to James for $222,500. At December 31, 60 percent of this merchandise remains in Jamess...
- Q The following section is taken from Concord Corporation's balance sheet at December 31,2021. Current liabilities Interest payable $70,750 Long-term liabilities Bonds payable,...
- Q help
- Q The Florida lottery agrees to pay the winner $276,000 at the end of each year for the next 20 years. What is the future value of this prize if each...
- Q During this course, you worked as a team on a large project. It is important to reflect on projects and teamwork to learn what went right, and what went wrong....
- Q Mr. and Mrs. Willet will file their 2020 tax return as married filing joint. They have an AGI of 35,000, tax exempt income of 2,000, and social security benefits of...
- Q Howell Food Products (HFP) produces the most popular of its canned soup varieties at the Stadium Plant. The Stadium Plant has two departments: Mixing and Canning. Raw materials are...
- Q The amount of income under absorption costing will be more than the amount of income under variable costing when units manufactured: Select one: a. exceed units sold b. equal units...
- Q A corporation reported net sales of $360,000, net income of $20,000, average stockholders' equity of $1,000,000, and average common shares outstanding of 10,000. It paid $4,000 of dividends...
- Q Ayayai Corporation, a clothing retailer, had income from operations (before tax) of $450,000, and recorded the following before-tax gains/(losses) for the year ended December...
- Q For 2019, Mark, a single individual with no dependents, receives income of $ 60 comma 000 and incurs deductible expenses of $ 11 comma 500. LOADING...(Click the icon to view...
- Q In 2021, AutoUSA Inc. earned $4,600,000 of book revenue, including $25,000 of dividend income from a 15% owned corporation. AutoUSA reported $3,600,000 of regular business expenses, which includes $12,000 of...
- Q Refer to the financial statements of Polaris in Appendix A to answer the following. What percent of the original cost of Polaris' company and equipment remains to be depriciated as...
- Q The management of Kunkel Company is considering the purchase of a $23,000 machine that would reduce operating costs by $5,000 per year. At the end of the machines five-year useful...
- Q If the manufacturing overhead allocation rate is R20 per unit and the manufacturing overheads amount to R25 000 ,...
- Q Find the future value (compound amount) and the compound interest, as indicated, for the following investment. Round answers to the nearest cent. Use Table 16-1 to find FVF. ...
- Q 3 On April 1, Paine Co. began construction of a small building. Payments of $120,000 were made monthly for four months beginning on April 1. The building was completed and...
- Q solve it please and send me the entire solutoon of them. 1) Q4. Explain the associations between COST and Asset ii) Loss iii) Expense
- Q A $119 petty cash fund has cash of $23 and receipts of $102. Which of the following would be part of the journal entry to replenish the account? Select the...
- Q Best Practices, Inc., is a management consulting firm. Its Corporate Division advises private firms on the adoption and use of cost management systems. Government Division consults with state and local...
- Q At the end of Wintsor, incis fisal year on November 30,2022, these accounts appeared in its adjusted trial balance. Fresht-in Inentory Purchuses Purtase Discourts Purchuse...
- Q Wipeout started his own consulting firm, Total Wipeout Consultancy, on July 1, 2018. The trial balance at September 30 is shown below. Wipeout Consultancy Trial Balance September 30, 2018...
- Q including the first Dec journal entry there are 7 entries with dates to the left Pharoah Inc. issued a debenture bond to Karamoutz Bank to finance new...
- Q Duffert Industries has total assets of $1,080,000 and total current liabilities (consisting only of accounts payable and accruals) of $100,000. Duffert finances using only long-term debt and common equity. The...
- Q The hotel California has 100 rooms, 10 of which were rented last night. Total room revenue for the night was $1,000. The Average Daily Rate was________. Select one: a. $10...
- Q For the period 1 January 2019 to 31 March 2019 an employee earned $75,000. The employers maximum superannuation contribution for the period would be: Tip: If you cannot find this...
- Q Amy developed an innovative computer game, called Home By Myself (HBM). It was so successful that she quickly followed up with two sequels: Home By Myself II (HBM2) and Home...
- Q Advanced: Calculation and comparison of ROI and residual income using straight line and annuity methods of depreciation The CP division of R plc. had budgeted a net profit before...
- Q A company with working capital of $750,000 and a current ratio of 2.5 pays a $127,000 short-term liability. The amount of working capital immediately after payment is a.$877,000 b.$127,000 c.$623,000...
- Q - Estimated total audited value $3,100,000 - Allowance for sampling risk $100,000 - Tolerable misstatement $175,000 If book value of accounts receivable is $3,250,000; what is the audit conclusion and...
- Q Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Fitzgerald
- Q Just need a response to this question. Thank you. How is the stockholders' equity section of a corporate Balance Sheet different from that in a single-owner business?
- Q Due Session 6 Part I Due Session 8 Part II & III Problem Healthy Bites, is an incorporated organic packaged food start-up located in...
- Q Should a deposit made directly to the bank that appears on the bank statement be included as a reconciling item in the bank reconciliation statement.
- Q Warren purchased a new harvester for his farm on 1 July 2016 for $180 000. He uses the tractor entirely for business purposes and it has an effective life of...
- Q Marks and Spencer report 2021. The report lists commitments, performance targets, and reports on the extent to which those commitments were met. What is one of the commitments that was...
- Q Calculate the expected return on the pension plan assets for the current reporting period (the 13-week period ended April 30, 2023) for Dollarama Inc. Compare this to the actual return...
- Q "Home loan clients taking strain as average instalment rockets by 38% in a year, says Absa". Accreditation 07 May 2023 By Londiwe Buthelezi News 24 Based on...
- Q Mutplectidice 4s an. iots
- Q Required information Problem 10-75 (LO 10-5) (Algo) [The following information applies to the questions displayed below.] Last Chance Mine (LCM) purchased a coal...
- Q In your opinion, who is the greatest beneficiary of the audit and why? (Examples may include investors, creditors, the company itself, potential employees, etc.) Can the quality of an audit...
- 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 moving toward Lean Production....
- Q In September, Numbers Incorporated sold 40,000 units of its only product for $339,000, and incurred a total cost of $315,000, of which $34,000 was fixed costs. The flexible budget for...
- Q Record the budget amendments in the General Fund general journal The citys budget for 2017 was legally amended as follows: Estimated Revenues: Decreases Increases Charges for Services...
- Q Mandy Company has the following information from last month: Standard direct labor hours for units produced (SQ) 4,600 Actual direct labor hours worked...
- Q Saputo Inc. (SAP) produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and internationally. SAP is considering initiating...
- Q Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $41,000 and giving a short-term note for $319,000. Legal fees paid were $2,070, delinquent taxes assumed were...
- Q Prepare the journal entry to record Autumn Companys issuance of 76,000 shares of no-par value common stock assuming the shares: Sell for $30 cash per share. Are exchanged for...
- Q ! Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2...
- Q Amanda Company purchased a computer that cost $11,800. It had an estimated useful life of five years and a residual value of $1,900. The computer was depreciated by the straight-line...
- Q cash $45,000, accounts receivable $160,000, inventories $150,000, prepaid expenses $20,000, accounts payable $95,000, and accrued expenses $75,000. Use this information to determine the: 1. Quick Ratio: 2. Current Ratio: 3....
- Q 9-34 (LO. 6) Harvey is a self-employed accountant with earned income from the business of $320,000 (after the deduction for one-half of his self-employment tax). He uses a defined contribution...
- Q Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Case C Case A Case B $ 7.700...
- Q Mark Hancock is a self-employed attorney who operates his law practice as an unincorporated sole proprietorship. In 2016, the IRS disallowed several business deductions he took in 2014 and 2015....
- Q Hard Hat Company is in the process of purchasing several large pieces of equipment from Machine Corporation. Several financing alternatives have been offered by Machine: Pay...
- Q Area Richards, Inc. exchanged a piece of equipment with an original cost of $82,000, accumulated depreciation to date of $40,000, and a fair value of $46,000 for a similar piece...
- Q Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 10,000 shares of cumulative preferred 2% stock, $150 par, and 33,000 shares of $25 par common. During its...
- Q please anwer as soon as possible The payroll records of Reece Video Productions Inc. provide the following information for the...
- Q Journalize the closing entries. If an amount box does not require an entry, leave it blank
- Q Question 1 (1 point) Indirect manufacturing costs can be ignored because they do not affect the cost of a product. True False
- Q Sheffield Company issued common stock for proceeds of $380000 during 2020. The company paid dividends of $89000 and issued a long term note payable for $95000 in exchange for equipment...
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