Accounting question and answers for November 12, 2023
- Q A product and service are bundled together and sold to customers for $450. The fair values of the product and service are $350 and $150 respectively. The IRS standard, IFRS...
- Q What determines the full amount of Social Security retirement benefits a qualified individual is entitled to receive? Primary Insurance Amount (PIA) O Total taxes paid into FICA Number of dependents...
- Q Windham Corporation has current assets of $700,000 and current liabilities of $875,000. Windham Corporation's current ratio would be increased by: Multiple Choice the purchase of $400,000 of inventory...
- Q Explain the rights and powers attached to ordinary shares. Substantiate your answer with the relevant statutory section. (25 marks)
- Q The beginning balance of a petty cash fund is $150. At the end of the month, the petty cash fund has cash of $51 and miscellaneous expense receipts of $93....
- Q Determining cash payments to stockholders The board of directors declared cash dividends totaling $1,100,000 during the current year. The comparative balance sheet indicates dividends payable of $230,000 at the...
- Q Cost-Based Pricing and Markups with Variable Costs Best Buy Services provides computerized inventory consulting. The office and computer expenses are $400,000 annually and are not assigned to specific jobs. The...
- Q Question 3 of 10 Your answer is incorrect. Calculate the cost that is assigned to the car and truck product lines using an activity-based costing system,...
- Q Refer to the financial statements for a publicly traded company using the Muscat Securities Market official website. Imagine that an industry analyst has asked you to forecast sales for each...
- Q The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December, the corporation entered into the following transactions. Dec....
- Q A stock is currently selling for $40. It is expected to pay a $2/share dividend in 1 year. If the market is in equilibrium, and investor's required rate of return...
- Q On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 50 million, $1 par, common shares, to be distributed on July 1. The...
- Q La tasa de rendimiento del capital de los accionistas comunes se calcula dividiendo la utilidad neta menos los dividendos preferentes al terminar el capital social comn. utilidad neta...
- Q On January 1, Year 1, Silver Star Incorporated purchased equipment for $71,100. The equipment had a three-year estimated life with a $4,200 salvage value. Straight-line depreciation was used. At the...
- Q Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 35 units @ $25 7 Sale 28 units 15 Purchase 27 units...
- Q Read the EPSAS report ( on moodle) and briefly discuss on the progress made by EU nations in adopting European Public Sector Accounting Standards.
- Q Multiple Choice Question 74 On May 1, 2017, Bonita Industries began construction of a building. Expenditures of $615600 were incurred monthly for 5 months beginning on May 1. The building...
- Q Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materialsX442 and Y661. The...
- Q Job Order and Process Cost Accounting Systems seek to do the same thing, but it is clear that one is more appropriate for high-cost low-volume goods, and one is more...
- Q What are the advantages of migrating from cash basis to the accrual basis of accounting? Give simple examples to prove the same?
- Q for taxpayers with income from sch k-1 form 1120-s, which of the following is requirement to claim the self-employed health insurance deduction
- Q El inventario final del cuarto trimestre del ao anterior de 700 unidades cumple con el requisito mnimo. La produccin esperada en el segundo trimestre actual es: Presupuesto de...
- Q Data & Analytics for Accounting and Finance Professionals Fixed Asset Book/Tax Depreciation Example Project Introduction This project will provide tax professionals with an introduction to the Alteryx...
- Q What will the challenge be for auditors with regards to Artificial Intelligence?
- Q May 1 Sold merchandise for $640, with credit terms n/60. The cost of the merchandise is $420. May 9 The customer discovers slight defects in some units. TFC gives a...
- Q Lux Corp. manufactures and sells a single product. Over the past year the company sold 500 units, with the following operating results. (15 points) Total Per...
- Q List five external stakeholders to the payroll process and explain their interest
- Q What causes individual customers to migrate in different directions and at different rates (see customer dynamics)? Discuss the related factors as per the notes and class material.
- Q True or False? Derivatives must involve an actual ownership of the underlying asset. Explain
- Q Which Excel 2019 features interest you most?List three ways that you could use each of the features that interest you most in your everyday life.
- Q Which of the following accurately defines the audit trail? Question 5 options: a master reference file for the accounting system a financial record for entering all types of business transactions...
- Q What distinguishes Management accounting from other Accounting areas?
- Q Based on the following information, if unit sales decrease by 12%, how much will fixed costs have to be reduced by to maintain the current operating profit? Sales...
- Q On May 1, 2017, Nash Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $5,232,000 and matured...
- Q Coffee Maker's Incorporated (CMI) Three divisions of a CMI are involved in a dispute. Division A purchases Part 101 and Division B purchases Part 201 from a third division, C....
- Q Crosshill Companys total overhead costs at various levels of activity are presented below: Month Machine-Hours Total Overhead Cost April 49,000 $191,570...
- Q Kay and Dee Manufacturing (K+D) tiene tres lneas de negocio: Reparacin y Overhead (R+O): Reparacin de transmisiones de camiones. Fabricacin: fabricacin de piezas de transmisin de...
- Q what are the different types of internal controls that can be used to prevent fraud or to locate it after it has occurred?
- Q Hans Suppliess bank statement contained a $400 NSF check that one of its customers had written to pay for supplies purchased. Required: a. & c. Show the effects of the...
- Q Rainbow Manufacturing has the following data: Selling price: $140 Variable manufacturing cost: $87 Fixed manufacturing cost $250,000 per month Variable selling & adminstrative costs $22 Fixed selling &...
- Q Explain the importance of the declaration of solvency in a voluntary winding up. Substantiate your answer with the relevant statutory section and cases. (25 marks)
- Q When you make your first purchase on Amazon.com, you've enlisted a lifelong acquisitions advisorsomeone who will constantly suggest other things that you might like to buy. Amazon.com is applying the...
- Q The Plebeians: O Were less numerous than the patricians. Could be elected to governmental offices neither in early nor in late Rome. Were unprivileged, poorer, and more vulnerable than the...
- Q Cotton Textile Pty Ltd manufactures a variety of fabrics. The Weaving Department had 1000 units in work in process on April 1, which were 20 per cent complete as to...
- Q Which of the following statements is True? I.Job costing accumulates costs by jobs or batches. II.Job costing accumulates costs by departments III.Process costing accumulates costs by departments or processes IV.Process...
- Q 9-38 Upriver Parts manufactures two products, V-1 and V-2, at its River Plant. Selected data for an average month for the two products follow. ...
- Q What are the three major types of product costs in a manufacturing company?
- Q Daryl is 60 years old, and has a 24% marginal tax rate on ordinary income. This year, Daryl withdrew $15,000 from his Roth IRA, an account opened in 2017. The...
- Q The ultimate control of the corporation rests with the: O shareholders O employees federal and provincial governments O chief executive officer
- Q Will Artificial Intelligence ultimately replace auditors?
- Q You may buy an espresso drink more than once a week. Imagine calculating the payback period for purchasing an espresso machine for $300. What types of savings and spending would...
- Q Why is it important to verify that data files have imported correctly when beginning a data analysis project? 2. What are the data conditions for applying benfords law?
- Q Si una empresa tiene un empleado a voluntad, no puede despedirlo por una razn ilegal. Cul de los siguientes no es un ejemplo de una razn ilegal? Violacin...
- Q Please provide a summary and analysis of the article: Retroactive Taxation, Unfunded Pensions, and Shadow Bankruptcies by Julie A. Roin
- Q Hayley recently invested $27,000 in a public utility stock paying a 5 percent annual dividend. (Hayleys marginal income tax rate is 32 percent and preferential tax rate is 15 percent.)...
- Q 116.) Tammy borrowed $20,000 to purchase cryptocurrency as an investment in 2021 and paid $1,500 interest on that $20,000. Tammy reported no income from her cryptocurrency investment. How much of...
- Q Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) $ 30 Direct labor (2 hours...
- Q What is meant by a "right of accounting?"
- Q Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Units in beginning inventory 0 Units produced 10,000 Units sold 9,000 Direct materials $ 40,000...
- Q Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows $82 in cash along with receipts for the following expenditures: transportation-in, $49; postage...
- Q Assuming the taxpayer has been cooperative during the audit, the IRS does not have the burden of proof on which of the following? Select one: a. Substantiation of claimed Schedule...
- Q McKenzie earned $1,311. Included in her pay is 8 hours of overtime ? Tracy works from home entering data into the computer. She is paid $2.75 for each page...
- Q You have bought a Car at 28000 and after 5 Years you have sold the car at 13500. What is the Rate of Depreciation Per annum?
- Q 2. Engel Company has 3 divisions: A, B, and C. Division A's income statement shows the following for the year ended December 31:Sales$1,500,000 Cost of goods sold(1,125,000)Gross profit$ 375,000 Selling...
- Q Qu rea del ciclo contable es ms difcil de entender? Revisa los Estados Financieros de Facebook en el siguiente enlace: http://investor.fb.com/releasedetail.cfm?ReleaseID=736911 (Enlaces a un sitio externo). Qu...
- Q Can anyone give some examples of issues that would be created by under or over costing?
- Q Profitability Analysis for Arriba Corp. For the year ended September 26, 2015, Arriba Corporation reported net income of $2,900 million. Total shareholders' equity on this date was $18,458 million, and...
- Q Perform a horizontal analysis for Waller Inc. Use 2017 as the base year. Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal...
- Q Dan posee y opera Schoepf's Sales Solutions (3S), una empresa unipersonal. 3S patrocina un plan de participacin en las ganancias. Dan tuvo un ingreso neto de $250,000 y pag...
- Q Chegg2022
- Q Concerning the Federal tax on generation-skipping transfers: a.The tax applies in addition to any applicable gift or estate tax. b.The tax applies in lieu of any applicable gift or estate...
- Q Bob purchased a computer several years ago for $2,200 and used it for personal purposes. On November 10th of the current year, when the fair market value of the...
- Q The dividend account: Select one: a. is an expense account. b. appears on the income statement. c. appears on the statement of retained earnings. d. normally has a credit balance....
- Q following account information, in alphabetical order, was taken from the worksheet of Compu-Soft for the month ended November 30,2023.HelpSave l1315points00:34:53Adjusted TrialBalance201Accounts payableAccountDebitCredit106Accounts receivable720accumulated depreciation, store equipment1,170cash4,300Cost of goods...
- Q Marigold Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this...
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