Accounting question and answers for November 29, 2024
- Q A review of the records of Pilgrim, Inc., a new company, disclosed the following year-end information:
- Q Please define de jure and de facto harmonization. Please define each and discuss the difference between the two concepts. Assume that a country decides to officially adopt International Financial Reporting...
- Q Complete the following without using (Round the "Total amount" and "Total interest" to the nearest cent.)
- Q ABC Company acquired a 80% interest in the DEF Company in year 1. For the year ended December 31, year 2, ABC reported net income of $100,000. During year 2,...
- Q Magic GMBA 3 Corporation ?? Income Statements For the Years Ended December 31,2020 and 2019 20202019 ...
- Q Why is the identification of favorable and unfavorable variances so important to a company? How can the identification of the variances help management control costs. Please explain.
- Q Create a function that pretty prints a date; Language Dr Racket Meaning: 2019 1 31 becomes January 31st, 2019 etc. Hint: Store "1st", "2nd", etc. in a vector created with...
- Q Under the double declining balance method: less depreciation is taken in the early years of an assets life, and more in the later years year 1 calculation is based on...
- Q Current Attempt in Progress On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,469, Ivanhoe Company estimates that 11% of...
- Q Dividends are currently taxed at the same rate as capital gains (for most investors). But, dividends are taxed immediately while taxes on capital gains are deferred until the stock is...
- Q For periods of time beginning after December 31 2008 Which of the following is most likely to be considered a period of nonqualified use for which thr exclusion of gain...
- Q On July 1, 20X1, Georgia Inc., which uses UOP depreciation, purchases a machine for $16,000; the company estimates that the machine will have a useful life of 15,000 machine hours...
- Q 9. Assume a company has two divisions that operate in close proximity. The majority of employees only work in one division; however, there are some employees who work in both...
- Q Three identical units of merchandise were purchased during July, as follows: \table[[Date,Product Basic H,Units,Cost],[July 3,Purchase,1,$37
- Q Wall Inc. acquired equipment from the manufacturer on 11/1/18 and gave a noninterest-bearing note in exchange. Wall is obligated to pay $463,500 on 5/1/19 to satisfy the obligation...
- Q Watch the video and answer the following questions: https://youtu.be/iTRQJC3_zak 1Watch the video and answer the following questions: 1.Who is Roger? what is his background? 2.What type of business does he...
- Q Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead...
- Q New Harvest Bakery acquired all the outstanding common stock of Red Rock Bakery for $69,300 in cash. The book values and fair values of Red Rock's...
- Q 1. Record the adjusting entry for insurance at December 31 of the current year. 2. Record the adjusting entry for supplies at...
- Q QS 8-9 Disposal of assets LO P2 Garcia Co. owns equipment that cost $83,200, with accumulated depreciation of $44,000. Garcia sells the equipment for cash. Record the sale...
- Q The following CVP income statements are available for Chantal Corp. and Mantle, Inc. Chantal Corp. Mantle, Inc. Sales revenue $700,000 $700,000 Variable costs 350,000 210,000 Contribution margin...
- Q Daniel and Emma form HP Enterprises, LLC a partnership designed to market and sell Harry Potter merchandise. In exchange for equal partnership interests (capital, profits and losses) Daniel and Emma...
- Q Standard costs...
- Q On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases a truck for $36,000 with an estimated useful life of 60,000 miles and a residual value of $6,000. Miles driven...
- Q 1. What are the three key dates for dividends? What are the journal entries, if any, for each date? 2. What are the components of pension expense? Be sure and...
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