Accounting question and answers for August 14, 2023
- Q Audit questionQ1. set out the rights and dutoes of auditos unddrcimpany act 2006?Q2. Explain the responsibilities of: - the directors - the auditors In connection with thepreparation and publication of...
- Q Read Case Study 3 in the Final Project Guidelines and Rubricdocument, and discuss the current or potential legal and/orregulatory issues apparent in this fact pattern that might impact apublic offering....
- Q Chippewas inc has decided to purchase equipment from centralMichigan industries on January 2, 2017, to expand its productioncapacity to meet customers demand for its product. Chippewas issuesan $800000, 5 year,...
- Q Describe the journal entry for a stock dividend on common stock(which has a par value). Be sure to address the difference betweena small and large stock dividend with regard to...
- Q Journalize the following transactions in general journal formfor the month of June 20XX. Identify each transaction by date. Youmay omit explanations of the transactions. Put journal entries inproper form.June 1?Mike...
- Q Pearl Products Limitedof Shenzhen, China, manufactures and distributes toys throughoutSouth East Asia. Three cubic centimeters (cc) of solvent H300 arerequired to manufacture each unit of Supermix, one of the company’sproducts....
- Q Accounting Theory QuestionCase 8- 10 Accounting for Prepaids and DeferralsShort term deferrals (prepaid and unearned revenues) areclassified as current assets and current liabilities. As suchincluded in working capital.Required1. Why do...
- Q Does a non-controlling shareholder have access to anyinformation other than the consolidated financial statements todetermine how well the subsidiary is doing? Explain.Advanced accounting
- Q Explain COSO internal control-integrated framework? Giveexample of Saudi organizations that uses COSO framework? (writewith max 200 words with evidence in your own words)Accounting Information System
- Q Write in your own words some of the things that you haveseen or heard which make being more aware of information securityimportant in your organization?Accounting Information System
- Q Problem 15-1On January 5, 2017, Crane Corporation received a chartergranting the right to issue 5,400 shares of $100 par value, 7%cumulative and nonparticipating preferred stock, and 46,800 sharesof $10 par...
- Q please answer allCrane Limited purchased a machine on account on April 2, 2018,at an invoice price of $360,090. On April 4, it paid $1,850 fordelivery of the machine. A one-year,...
- Q Standard Costs, Decomposition of Budget Variances, DirectMaterials and Direct LaborHaversham Corporation produces dress shirts. The company uses astandard costing system and has set the following standards fordirect materials and direct...
- Q Tudor Company acquired $500,000 of Carr Corporation bonds for$487,706.69 on January 1, 2018. The bonds carry an 11% statedinterest rate, pay interest semiannually on January 1 and July 1,were issued...
- Q Write a 525- to 700-word summary. Research a recent article onauditing acquisitions, payments, property plant and equipment(fixed assets), notes payable, or owner's equity. Apply what youlearn to your future or...
- Q The Corporations Act 2001 (Cth) provides defences fordirector’s conduct that may otherwise breach sections of the Act.Identify these defences for directors and explain how thesedefences can be applied in relation...
- Q answer part b only(dont post the screenshot of the answere kindly post it in textform)HASF PVT.LTDBUDGETED INCOME STATEMENTFOR 1st QUARTER 1999DescriptionJANUARYFEBRUARYMARCHSales285,000323,000221,000Purchases129,000168,00095,000Wages35,00037,00030,000Supplies26,00023,00021,500Utilities6,5008,7007,200Rent15,00012,80013,600Insurance12,00012,00012,000Advertising24,50028,50018,000Depreciation20,00020,00020,000Net Profit17,00013,0003,700Required:Please make a cash budget for the months of...
- Q Read the scenario below and answer the questions that follow inyour role as a member of the senior management team at Oakwood. Youare reviewing budgets and actual results for the...
- Q Spicewood Stables Inc. was established in Austin, Texas, onApril 1, 2019. The company provides stables, care for animals andgrounds for riding and showing horses. The following transactionsare provided for your...
- Q The following balances were taken from the books of Alonzo Corp.on December 31, 2017. Interest revenue $86,000 Accumulateddepreciation—equipment $40,000 Cash 51,000 Accumulateddepreciation—buildings 28,000 Sales revenue 1,380,000 Notesreceivable 155,000 Accounts receivable...
- Q 1) Whyis it essential that we understand and measure costs right? Howdoes Measure Cost Right presribe we fix cost?2) Doesthe U.S. healthcare system have a cost crisis? If so why?...
- Q Enterprise Risk Management (ERM) is directly related toauditing. Describe the relationship between ERM and auditing. Whyis ERM important to an organization?
- Q explain any five functional areas of planning andstaffing related to entrepreneurship.
- Q Allen Company acquired 100 percent of Bradford Company’s votingstock on January 1, 2014, by issuing 10,000 shares of its $10 parvalue common stock (having a fair value of $15 per...
- Q The financial records of Leon Paul Inc. were destroyed by fireat the end of 2017. Fortunately the controller had kept certainstatistical data related to the income statement as presentedbelow. 1....
- Q The financial records of Leon Paul Inc. were destroyed by fireat the end of 2017. Fortunately the controller had kept certainstatistical data related to the income statement as presentedbelow. 1....
- Q It is the second Monday night in October and it is now 3 a.m.You cannot sleep. You are the CFO of Marysville General Hospital, a300-bed community hospital in the Midwest....
- Q Patrick Corporationissued 5% bonds on January 1, 2018, with a face amount of$1,000,000, the market rate for bonds of similar risk and maturitywas 4%. The bonds mature in 20 years...
- Q Select an industry, identify what might make that industryhigh-risk, and discuss factors that you would consider whendeciding whether to disclose contingencies based on the selectedindustry.
- Q Goodfellow & Perkins gained a new client, Brookwood PinesHospital (BPH), a private, not-for-profit hospital. The fiscalyear-end for Brookwood Pines is June 30. You are performing theaudit for the 2023 fiscal...
- Q Allen Company acquired 100 percent of Bradford Company’s votingstock on January 1, 2014, by issuing 10,000 shares of its $10 parvalue common stock (having a fair value of $15 per...
- Q REVENUE RECOGNITIONIf you sign up for and receive a new phone that would normallyretail for $500 (cost to manufacture $380). We commit to a threeyear contract where we will have...
- Q Gary James works for Hills & beans, a professional servicesfirm. James was a onetime business partner of former Florida StateSenator Howard Clark and a donor to his campaign. Clark wasrecently...
- Q Assume that Brown Company owns 100% of Schroeder Corporation.Schroeder reports Stockholders’ Equity of $500,000. The Equityinvestment was acquired at book value (i.e., no AAP). Schroedersells a 10% interest to outsiders...
- Q Palmer Consulting CompanyCarson Palmer established Palmer Consulting Company on February1, 2019, since he retired from the NFL after 15 seasons. He decidedit might be time to put his USC degree...
- Q Monson& Company is an architectural firm specializing inhome remodeling for private clients and new office buildings forcorporate clients. Monson charges customers at a billing rate equalto 128?%of the? client's total...
- Q 1. The monthly cost of heating our company office is a fixedcost, a CEO says, "because we adjust the thermostat according tothe weather conditions which are beyond our control." Do...
- Q Please show the process as detailed as possible. Thankyou!!!Determine the Free Cash Flow (FCF) and the Shareholder Cash Flow(SCF) at the end of each of the next 3 years With...
- Q Otis is the CEO of Rectify, Inc., a private foundation. Otisinvests $500,000 (80%) of the foundation's investment portfolio inhigh-risk derivatives. Previously, the $500,000 had been investedin corporate bonds with an...
- Q Deferred Tax Calculations (Appendix) Wyhowski Inc. reportedincome from operations, before taxes, for 2015-2017 as follows:2015 $402,000 2016 460,000 2017 539,000 When calculating income,Wyhowski deducted depreciation on plant equipment. The equipmentwas...
- Q “I know headquarters wants us to add that new product line,”said Dell Havasi, manager of Billings Company’s Office ProductsDivision. “But I want to see the numbers before I make any...
- Q Respond with at least 200 words.Identify the differences between service and merchandisingcompanies.
- Q what are some of the variables that make a plant asset useful lifedifficult to predict?
- Q CableVision has been approached by the City of Mirada to run itscable operations in 2019. After negotiating with keyparties,CableVision has made the following agreements:It will offer Mirada residents a basic...
- Q The table below shows the closing monthly stock prices for IBMand Amazon. Calculate the simple three-month moving average foreach month for both companies. (Input all amounts aspositive values. Do not...
- Q Applied vs. Actual Manufacturing OverheadSloan Manufacturing Corporation applies manufacturing overheadon the basis of 120% of direct labor cost. An analysis of therelated accounts and job order cost sheet indicates that...
- Q Required information[The following information applies to the questionsdisplayed below.]Oak Mart, a producer of solid oak tables, reports the followingdata from its second year of business.Sales price per unit$320per unitUnits produced...
- Q You have the following information for Sheridan Company for themonth ended October 31, 2017. Sheridan Company uses a periodicmethod for inventory.DateDescriptionUnitsUnit Cost or Selling PriceOct. 1Beginning inventory59$26Oct. 9Purchase11328Oct. 11Sale10335Oct. 17Purchase10329Oct....
- Q Alexander Ryan earns net self employment income of115,000. he works a second job from which he receives FICA taxableearnings of 44,000.self employment tax?
- Q Alpha Manufacturing Corporation has two service departments,Custodial Services and Maintenance, and three productiondepartments, Cutting, Milling, and Assembly. The company allocatesthe cost of Custodial Services on the basis of square footage...
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