Accounting question and answers for November 22, 2023
- Q a supervisors salary is an example of direct labor varirable factory overhead standard cost fixed manuractirng overhead
- Q Selected transactions for Mr. Ibrahim, civil engineer, in his first month of business, are as follows. 2 Jan Invested $100,000 cash in...
- Q PROBLEM #1 JOB COST SYSTEM ...
- Q Belgrade Lakes Properties is developing a golf course subdivision that includes 225 home lots; 100 lots are golf course lots and will sell for $95,000 each; 125 are street frontage...
- Q The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Blumen, Inc., for October 2019. Perpetual inventory system is used. ...
- Q 1-How is the term "market value" used in real estate valuation? 2-. How is the term "investment value" used in real estate valuation? 3-How are transaction prices used in real...
- Q Assuming the FIFO periodic coat dlow assumption, what will be the companys cost of goods sold for the 80 items sold in Jan 31, 2019?
- Q Why is important that governments and not-for-profits coordinate their process for developing appropriations budgets with those for developing capital budgets?
- Q When the actual direct labor-hours is less than the standard direct labor-hours allowed for the actual output of the period, the journal entry would include:
- Q nright Company expects to have a cash balance of $64,380 on January 1, 2014. These are the relevant monthly budget data for the first two months of 2014. ...
- Q Emarson & Slater Inc. had materials inventory of $13,200 on July 1. The materials inventory on July 31 was $16,500, and the cost of direct materials used in production during...
- Q The following is a summary of the balance sieet accounts for Blue Berry Inc. as of Dec 31, 2022. Accounts Payable 37,500 Land 62,500 Inventory 42,500 Salary Payable 12,000 Prepaid...
- Q Horizontal analysis is also known as: a) trend analysis b) vertical analysis c) linear analysis d) common size analysis
- Q Zebra, Inc., a calendar year S corporation, incurred the following items this year. Sammy is a 35% Zebra shareholder throughout the year. Operating...
- Q DECISION ANALYSIS The Department of Health is in the process of choosing four hospitals that will act as COVID-19 facilities. Below are the costs the DOH will incur in selecting...
- Q not useful at all barely useful somewhat useful very useful Use his professor's list of suggestions to find a new group to research that he knows will work for the...
- Q You are the auditor of Unet Incorporated, an auto air-conditioner service and repair company, and you have decided to use the mean-per-unit method to test the existence and gross valuation...
- Q In connection with the CrownJewel sales estimates provided in the previous problem, past experience has shown that room variable costs are 20% of room revenue. Sixty percent of these...
- Q La empresa X prepara estados financieros mensuales. El 1 de enero, un cliente pag a la empresa X $34 500 por adelantado por los servicios de limpieza que se realizaran...
- Q On July 1st after recording interest and amortization the holders of Manchesters Companys convertible bonds exercise their right to convert 2,000,000 of the bonds. The bonds were converted into 100,000...
- Q Jacob is a nutritionalist who is in the process of setting a large group practice. He expects that the group will have gross receipts of $20,000,000 in the first year...
- Q A firm reported sales of $300,000 during the year and has a balance of $20,000 in its Accounts Receivable account at year-end. Prior to adjustment, Allowance for Doubtful Accounts has...
- Q Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management designed an...
- Q show details and specific entries for each journals and source documents enteries Please show all detailed working The following information was extracted from the books of Campland Pharmaceutical Distribution limited...
- Q You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across...
- Q John's corporation had $10,000 in retained earnings at the beginning of the year. During the year, the corporation earned $500,000 of revenues and paid $450,000 of expenses including depreciation...
- Q What inventory tracking method allows an enterprise to immediately update inventory and cost of goods sold when it sells a product to a customer? Deferred Prepaid Perpetual Periodic
- Q %u201CIt certainly is nice to see that small variance on the income statement after all the trouble we%u2019ve had lately in controlling manufacturing costs,%u201D said Linda White, vice president of...
- Q Unicorn Company fabrica un dispositivo que utilizan los usuarios de Internet para aumentar las seales Wi-Fi. Los siguientes datos se refieren al primer mes de funcionamiento: * Inventario inicial:...
- Q Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling SunBoots to customers for $70 per pair. When a...
- Q Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $840. Selected data for the companys operations last year...
- Q XZ Co owns 23% of shares of KL Co. Which of the following statements most accurately sums up IAS 28's assumption about their relationship? A. KL Co is assumed not...
- Q One up, one down refers to: a. How management views new employees b. A pattern of womens reactions in corporate...
- Q pex Fitness Club uses straight-line depreciation for a machine costing $20,150, with an estimated four-year life and a $2,200 salvage value. At the beginning of the third year, Apex determines...
- Q When determining the product costs for long-term planning, ________. A) the research and development cost of the product should be ignored B) variable costing is more appropriate C) absorption costing...
- Q Prepare the Cash Budget for October, November and December 2023 from the information provided below. Note: Where applicable, round off amounts to the nearest Rand. Use separate monetary columns for...
- Q which of the following is the correct order for preparing the financial statements? A. balance sheet, statement of stockholders' equity and income statement B. Balance sheet, income statement, and statement...
- Q On December 31, 2020 Brisbane Company had 100,000 shares of common stock outstanding and 39,000 shares of 7%, $50 par, cumulative preferred stock outstanding . On February 28, 2021, Brisbane...
- Q Pillsbury Boys Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2022, the following balances related to this plan: Dr/(Cr) Plan assets, at fair value...
- Q K art Co has dividend cover of 3, a dividend per ordinary shares of 25cent and a current share price of $4.30. What is the P/E ratio of Kmart Co?
- Q Priscilla was recently promoted and received a substantial raise. She talked to her tax adviser about the potential tax ramifications. After making some projections, her adviser welcomes her to the...
- Q airlines flies passengers roundtrip. it has two types of passengers: business and vacation. it noted the following info: business vacation roundtrip ticket price $300 $100 variable cost per roundtrip...
- Q Which of the following statements is not true regarding a REMIC? A) A REMIC is a taxable entity for federal income tax purposes and must file an information return. B)...
- Q Homestake Mining Company Homestake Mining Company is a 120-year-old international gold mining company with substantial gold mining operations and exploration in the United States, Canada, and Australia. At year-end, Homestake...
- Q During the first month of operations ended May 31, Big Sky Creations Company produced 55,000 designer cowboy boots, of which 51,900 were sold. Operating data for the month are summarized...
- Q A new common stock issue that paid a $1.74 dividend last year. The par value of the stock is $16 , and the firms dividends per share have grown at...
- Q Bee owns land (Bravo) with an adjusted basis of $60 and a fair market value of $100. Bravo is subject to a mortgage of $4. B sells the land to...
- Q XY Distributors Inc. leases a fleet of vehicles from Transpo Co. it leases 20 trucks for its delivery operations, 14 cars for its sales force and 6 cars for its...
- Q Statement of Advice 1 Partnership net income & distribution Your client Jack and Dustin at J & D Partners have attended your office to have their 2022-year tax...
- Q Shruti Shrills is considering an expansion of one of its existing buildings to add more manufacturing space for its kid-friendly noise makers. Several possible scenarios exist for future cash flow,...
- Q The following transactions relate to merchandise purchases and sales for the month of November 2020. You are required to show the double entry records for each of the transactions. On...
- Q What types of computerized payroll systems are available
- Q The following information is for Redwood Inc. for the year ended December 31, 2016. Redwood had a cash and cash equivalents balance of $5,600 on January...
- Q bmit Item9 Item 9 Item 9 Which of the following can a cash flow analysis of the final disposal of a capital asset (for example, machinery used in the operation...
- Q Stanley Corporation properly computed taxable income of $1,120,000 for the year ended December 31, 2020. At the beginning of the year, January 1, 2020, Stanley had a deferred...
- Q What are the key differences between Common Law and Statute Law?
- Q Question: Evaluation of an auditors report. Mrs Meyer is a director of an international firm of external auditors and works in the Auckland office. Mrs Meyer is the engagement...
- Q Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the companys...
- Q Earned Income Credit, Child and Dependent Care Credit (LO 7.2,7.3)Clarita is an unmarried taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child...
- Q For each assertion, indicate whether it is an assertion about classes of transactions and events or an assertion about account balances. Then, indicate the name of the assertion made by...
- Q Determine the balance in each account and identify whether each account would most likely be an asset or a liability account. Account 1 ...
- Q The following selected account balances were taken from T3Sb Company's 2039 accounting records: January 1, 2039 December 31, 2039 Inventory $48,000 $22,000 Unearned revenue $16,000 $29,000 Notes payable $42,000...
- Q On January 1, 2021, Wetick Optometrists leased diagnostic equipment from Southern Corp., which had purchased the equipment at a cost of $1,628,869. The lease agreement specifies six annual payments of...
- Q On January 1, Pete Rowe bought a ski chalet for $58,000. Pete is renting the chalet for $69 per night. He estimates he can rent the chalet for 180 nights....
- Q Silk Company issued $500,000 of 6%, 10-year bonds on one of its interest dates for $431,850 to yield an effective annual rate of 8%. The effective-interest method of amortization is...
- Q Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000...
- Q Numo Company purchased a new machine on September 1, 2017, at a cost of $145,000. The company estimated that the machine will have a salvage value of $25,000. The machine...
- Q Mint Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $5,500 and two jobs in process: Job...
- Q Direct Materials Purchases Budget: Direct Labor Budget Crescent Company produces stuffed toy animals; one of these is Arabeau the Cow. Each Arabeau takes 0.20 yard of fabric (white with irregular...
- Q How to calculate a flexible budget for Direct material (Acrylic pile fabric)? Actual $256,422 Master (Static) Budget $233,324 Master budget variance $23,098 Quantity allowed per unit 0.02381 Input price $35.00/Bolt...
- Q Carr Company is considering two capital investment proposals. Estimates regarding each project are provided below Project Soup Initial investment $400,000 Annual net income. $30,000 Net annual cash inflow $110,000...
- Q The District of Columbia has 345 ICU beds under normal conditions, and up to 500 total ICU beds if up to 105 oncology beds are converted to ICU beds. If...
- Q [The following information applies to the questions displayed below.] Marin Company produces two software products (Cloud-X and Cloud-Y) in two separate departments (A and B). These products are highly regarded...
- Q In March 2020, Serengeti exercised an ISO that had been granted by his employer, Thunder Corporation, in December 2017. Serengeti acquired 1,550 shares of Thunder stock for the exercise price...
- Q Explain an example of recording an expense that does not require cash disbursement, or of recording a cash disbursement which is not an expense. How would you explain these...
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