Accounting question and answers for September 01, 2023
- Q A project has an annual rate of return of 15%. The project cost $60,000, has a 5-year useful life, and no salvage value. Straight-line depreciation is used. The annual net...
- Q I.On January 1, 2019, MUVE INC. issued $800,000, 6%, 5-year bonds for $735,110. The bonds were sold to yield an effective-interest rate of 8%. Interest is paid annually on...
- Q Foam Products, Inc., makes foam seat cushions for the automotive and aerospace industries. The company's activity-based costing system has four activity cost pools, which are listed below along...
- Q which one of the following can the accounting equation can be rewritten as? A) Assets-profit-drawings=closing capital- liabilities B) assets-liabilities-drawings=open capital+profit C) assets-liabilities-open capital+drawings=profit D) assets+profit-drawings-liabilities=Closing capital
- Q Question 6 Which of the following is not a separate management function? O Planning O Decision-making O Directing O Controlling
- Q A fixed asset with a cost of $34000 accumulated depreciation of $30600 is sold for $5780 what is the amount of the gain or loss on disposal of the fixed...
- Q Compute the amount that can be borrowed under each of the following circumstances: (PV of \$1, FV of \$1, PVA of \$1, and FVA of \$1)...
- Q On May 27, Hydro Clothing Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 54,000 of the reacquired shares at $11...
- Q IAS 2 Inventories specifies expenses that should be included in yearend inventory values. Which THREE of the expenses below are allowable by IAS 2 as expenses that should be...
- Q Chandler and Monica, a married couple who file jointly, have adjusted gross income (before social security benefits) of $42,500, no tax-exempt interest, no foreign earned income, and have received $15,000...
- Q For a given level of sales, a low contribution margin ratio will produce more net operating income than a high contribution margin ratio True or False
- Q Using 2022 Federal wage bracket tables calculate George's take home pay. He makes $42224 a year before contributing 14000 to his simple IRA and has a state tax of 2.3%....
- Q A cash budget, by quarters, is given below for a retail company ( 000 omitted). The company requires a minimum cash balance of at least $8,000 to start...
- Q Alvis Corporation reports pretax accounting income of $380,000, but due to a single temporary difference, taxable income is only $235,000. At the beginning of the year, no temporary differences existed....
- Q Trio Company reports the following information for the current year, which is its first year of operations
- Q At this point, how comfortable are you using Excel for business purposes? When do you still use your calculator?
- Q Organization 10,000 shares of $2 par value common stock at a price of $25 per share. On Sep. 2, organization reacquires 1,000 shares at $24 per share. On Sep. 16,...
- Q Sandhill code has a product with unit selling price of $600 and a variable cost per unit for $360 and a fixed cost of 350,000 compute the companies...
- Q When a company rents property for a specific period of time under a contract, we refer to the company using the rented property as the _______________ Select...
- Q Question 4 Bob used the following balances to prepare his accounts as at 30 April 2018 DR CR f E Receivables 6,000 Bank loan 3,000 Bank overdraft 2,500...
- Q 3. Schedule of cash disbursements for expenses. 3. Schedule of cash disbursements for expenses
- Q Hello, I was wondering if you could help me with Chapter 3 Cumulative Comprehension Problem: Echo Systems its in the book Fundamental Accounting Principles. This is what I...
- Q Klumper Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: \table[[Activity Cost...
- Q ABC sells 400 shares of its $23 par common stock for $27. The entry would be entail credits to: a. Cash for $9,200. b. paid in cash excess of Par-Common...
- Q SAGE was a successful singing group that contracted to perform at the Indie Festival rock concert. SAGE was aware that the promoter would sustain a substantial loss if the group...
- Q On April 1, 2013, Lightpath Technologies paid $40,000 for rent on warehouse space one year in advance. If Lightpath makes the appropriate adjusting entry, how much will be reported on...
- Q Apri1 2 Nozoni Invested $32,090 cash and computer equipment worth $35,090 in the company. April 3 The company rented furnished...
- Q The information that follows pertains to Esther Food Products: At December 31, 2021, temporary differences were associated with the following future taxable (deductible) amounts: Depreciation $ 48,000 Prepaid expenses 20,000...
- Q Vertical Analysis Complete a vertical analysis for 2021 using just the accounts listed For...
- Q What is the last account that should be listed in the post closing Trial Balance? A) Capital Account B) Cash C) Income Summary D0 Fees Earned
- Q prepare a sales budget for 2017 under each plan LATO SCHEEN PRINTER VERSION Question ? Bridgeport Industries had sales in 2016 of $7,200,000 and...
- Q Katies Cards is a company that manufactures and sells cards and stationary. On 1/1/20, the company purchased a new printing press for $400,000 cash. The expected residual value is $20,000...
- Q 13 13 Deere returned $600 worth of goods to Gilbert for full credit. The goods...
- Q which of the following could not be a relevant cost in deciding whether or not to eliminate a producing department? a Revenue that could be generated by renting...
- Q XBRL is used in reporting on the Internet, and it has implications for financial reporting. Complete the requirements for Chapter 2, Case Analysis 2-31 (Anderson Manufacturing - XBRL-enabled software), on...
- Q QUESTION TWO The following information was extracted from ABC Ltds financial statements for the year ended 31 December 2019. Sales on 30 November 2019 were K100 million...
- Q On January 1, 2016, an investor paid $295,000 for bonds with a face amount of $315,000. The contract rate of interest is 10% while the current market rate of interest...
- Q question is : what is the cost of the ending inventory for item 27 under FIFO method? During June, the following changes in inventory item 27...
- Q Make a list of the sources of revenue that Walt Disney discloses in its 10k, based on the excerpt from its 2014 10k. Which of the listed revenue sources...
- Q On the first day of the fiscal year, a company issues an $496,000, 10%, 5-year bond that pays semiannual interest of $24,800 ($496,000 x 10% x 1/2), receiving cash of...
- Q The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is shown as follows: Dec. 31, 2016 Dec. 31, 2015 Assets 585,760.00 208,39000 616,130.00 239,30000...
- Q On December 31, 2019, Moscow Company sold some used bottling equipment for $1,015,000 cash. The original cost of the equipment was $5.24 million and its accumulated depreciation equaled $4.32 million...
- Q Bridgeport Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost $ 45,500 Contribution to the plan 9,500 Actual and expected return on plan...
- Q performance occurs when a party executes in good faith all promised terms and conditions with the exception of minor details that don't affect the...
- Q A Record the basic consolidation entry. ...
- Q Discuss the differences between GAAP and IFRS. What are implications of the differences in these two different financial reporting systems? What are two benefits and two...
- Q Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,690 pounds of material at $5.00 per pound and standard cost for 4,470...
- Q Calculate the Average Rate of Return on the purchase of a fleet of vehicles that will cost the company $350,000, have a lifespan of 5 years with no residual value;...
- Q Need help calculating #34, #35, #38, and #39 Draw Page Layout Formulas Data Review View Tell me fx Use...
- Q ook Show Me How Lean accounting Chart of Accounts Starting Questions Journal Instructions Modem Lighting Inc, manufactures ighting fixtures, using lean manufacturing methods. Style Omega has...
- Q How long should a patent be amortized for?
- Q BPO Services is in the business of digitizing information from forms that are filled out by hand. In 2006, a big client gave BPO a distribution of the...
- Q 1. Do you currently have a budget? If so, what time period do you normally budget for (week, month, year, etc)? 2. Which of our personal expenditures will be the...
- Q Kameron Barrett, a student in a managerial accounting course asked the following question. "in the first accounting course, the teacher said inventory costs flow on a FIFO, LIFO, or weighted...
- Q Bart, Felix & Jeter (BFJ) LLP completed the audit of Silver Sonic Ltd for the financial year ending 30 June 2021 on 15th August 2021. The auditors report was signed...
- Q Last year Minden Company introduced a new product and sold 25,200 units of it at a price of $99 per unit. The product's variable expenses are...
- Q 1. What should you have done as a business owner before the Pandemic as part of your Risk management? 2. If you want to be an expert on internal audit,...
- Q Blacks mark up is 20% on cost. The closing inventory at 31 December 2019 has been counted and valued at cost and amounts to 81,750. This amount includes items...
- Q Please show the work, I'm having troubles with this. Exercise 6-21 (Algo) Long-term contract; revenue recognition over time; loss projected on entire project [LO6-9]...
- Q The contribution margin is A) The difference between fixed and variable costs B) The difference between the selling price and the fixed costs C) The difference between the selling price...
- Q Worldminuswide Financial Services, Inc. invested $30,000 to acquire 6,250 shares of Dawn Investments, Inc. on March 15, 2016. This investment represents less than 20% of the investee's voting stock. On...
- Q Frank Corporation purchased supplies at a cost of $15,000 during 2015. At January 1, 2015, supplies on hand were $2,000. At December 31, 2015, supplies on hand are $2,500. Calculate...
- Q Razor Inc. manufactures industrial components. One of its products used as a subcomponent in auto manufacturing is Fluoro2211. The selling price and cost per unit data for 9,070 units of...
- Q (Ignore income taxes in this problem.) A company with $810,000 in operating assets is considering the purchase of a machine that costs $86,000 and which is expected to reduce operating...
- Q Indicate whether the following statement is true or false: Transactions generate income or give rise to expenditure. Select one: O True O False
- Q Analysis of Campbell Soup Company Your firm refers to Campbell Soup Company. The data below shows information for Campbell soup Company. July 30, 2017 July 31, 2016...
- Q P8-4A The bank portion of the bank reconciliation for Backhaus Company at November 30, 2010, was as follows. BACKHAUS COMPANY Bank Reconciliation November...
- Q (20 points) Answer the next 10 questions based on the following information: Starting from the usual full-employment equilibrium in all markets, also referred to as general equilibrium, what...
- Q The following is the financial statement of Executive Fruit Company for the year ended December 2014. INCOME STATEMENT,...
- Q A $175,000, 5%, 3 year bond issue sold at 104 will cost: (Round your final answer to the nearest dollar.) $191,100 $183,750 $175,000 $182,000
- Q (Ignore income taxes in this problem.) A company with $810,000 in operating assets is considering the purchase of a machine that costs $86,000 and which is expected to reduce operating...
- Q 45. Due to a change in her living situation, Christine, a single taxpayer, had to repay social security benefits that she received and included in her gross income in a...
- Q Use the Internet and/or Strayer Library to research zero-based budgeting as an alternative to the traditional budgeting process. Take a position as to whether or not a zero-based budget...
- Q Succession typically happens all at once. True False
- Q please help please 4. Analysis and Correction of Accounting Errors Haley Corporation began operation on December 31, 2020. The controller for Haley Corporation is...
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!