Accounting question and answers for August 14, 2023
- Q 1 Required: American Golf Corporation operates golf courses throughout the country. For each of the following items, select whether the cost should be capitalized or expensed. 0.4...
- Q A company has two departments, Y and Z that incur delivery expenses. An analysis of the total delivery expense of $9,000 indicates that Dept. Y had a direct expense of...
- Q Which of the following can minimize the threat of over- and underproduction? a. the use of innovative performance metrics b. the use of periodic physical counts of inventory and reconciliation...
- Q Recent financial statements for Madison Company follow: Madison Company Balance Sheet December 31 Assets...
- Q please answer without programmable calculator i swear i will upvote, please answer both quickly Q. 2 Cost of capital. Assume...
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- Q At 30 June 2010 balance of the Provision for Long Service Leave account for Purple Ltd was $25 000. At 30 June 2011 the balance of the Provision for Long...
- Q Following are selected accounts and their balances for a company after the adjustments as of December 31, the end of its fiscal year. (All accounts have normal balances.) Dividends $3,200...
- Q In Draco Corporations first year of business, the following transactions affected its equity accounts. Issued 6,200 shares of $2 par value common stock for $40....
- Q 10. Conduct a goodwill impairment test Goldhanmer Building Produch distibutes various building prodactstonew home...
- Q 1.How are business performance analysis results reported on and communicated? 2.Why is a costbenefit analysis (CBA) used when assessing financial performance? Thank you
- Q nearest cent.) A. $77265 B. $599.85 C. $703.11 D. $589.24
- Q Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication 2,500 1,500 $12,000 $16,200 $ 2.20 $ 3,00 Total...
- Q A retail store credited the Sales Revenue account for the sales price and the amount of sales tax on sales. If the sales tax rate is 5% and the balance...
- Q Sage Corporation issues $560,000 of 8% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the...
- Q Suppose that Larimer Company sells a product for $30. Unit costs are as follows: Direct materials $4.49 Direct labor $2.90 ...
- Q If AT&T has current liabilities of $40 million and maintains a current ratio of 1.5, then its net working capital must be ____. Group of answer choices $30 million $20...
- Q El _____ es una estadstica que resume la fuerza de asociacin entre dos variables continuas. anlisis de regresin coeficiente...
- Q Louie Corporation has provided the following data: Year 2 Year 1 Accounts receivable $269,000 $290,000 Inventory $190,000 $160,000 Sales, on account $1,340,000 Cost of goods sold $860,000 The company's operating...
- Q Gerald and Tony Plaid have recently won a design award for their leather walking boots and have established a company,Nemo company, to commence production of the footwear. The...
- Q Define cash equivalents and provide examples
- Q Last year Emmons Company reported cost of goods sold of $115,000. Inventories decreased by $20,000 during the year, and accounts payable decreased by $15,000. The company uses the direct method...
- Q [The following information applies to the questions displayed below.] Apple Corporation acquires 80 percent of Berry Corporation's common shares on January 1, 20X2. On January 2, 20X2, Berry acquires 60...
- Q Just prior to a major operation, Cody gives his son, Martin, stock in Robin Corporation (fair market value of $1,581,000 and basis of $2,213,400). At the time of the gift,...
- Q Div Rev Div
- Q Arensky Company uses normal costing to account for overhead inits job costing system. There are 2 departments in the company:Designing and Machining. The Designing Dept. is labor intensive;the Machining Dept....
- Q John and Tara Smith are married and have lived in the same homefor over 20 years. John's uncle Tim, who is 64 years old, has livedwith the Smiths since March...
- Q Create a comparing table for managerial and financial acoountingon the positions you concider the most important. Supply yourchoice with explanations.
- Q Direct materials196,000 lbs. at $4.90194,000 lbs. at $4.70Direct labor17,500 hrs. at $16.3017,900 hrs. at $16.60Factory overheadRates per direct labor hr.,based on 100% of normalcapacity of 18,260 directlabor hrs.:Variable cost, $3.20$55,440...
- Q I wanna know what is different between fixed cost and variablecost what it change and what it cannot be change between them ?
- Q QUESTION 1The inventory records of Frost Company for the years 2016 and2017 reveal the cost and market of the January 1, 2016, inventoryto be $125,000. On December 31, 2016, the...
- Q CompetencyEvaluate the threats and risks associated with accountinginformation systems.Scenario InformationBeGood Baking Supply is a small bakery supply company formed asa closely held corporation. The company supplies raw bakingmaterials, paper goods,...
- Q Taylor Corporation reports inventory and cost of goods soldbased on calculations from a LIFO periodic inventory system. Thecompany’s records under this system reveal the following inventorylayers at the beginning of...
- Q Reconciliation from IFRS to GAAPYou are the CFO for Mills company (reporting using IFRS) andmust reconcile your financial statements for the years ending 2008,2009, and 2010 to U.S. GAAP (The...
- Q Question 11-Explain how to calculate the net income for merchandisingcompanies, why is it different than calculating the net income forservice companies.2-Prepare the income Statement for Yazeed merchandising companyfor December 2015...
- Q Q1. Carter Packaging Company is engaged in the business ofproducing customized tins for its corporate clients. Themanufacturing facility is located in North Hamsphire, Olton.On March 31, 2018 Boost Drinks Limited...
- Q What type of activities does payroll reconciliation include?(simple and original answer please, no hand writing and answershould relate to Australian payroll system or Australianlegislation thx)
- Q Problem 7-3 (Part Level Submission) Pearl Corporation operatesin an industry that has a high rate of bad debts. Before anyyear-end adjustments, the balance in Pearl's Accounts Receivableaccount was $595,600 and...
- Q Forboth new and used vehicles that are acquired and placed in serviceafter 12/31/17 and used over 50% for business, the TCJA has whichof the following impacts?A) Dramatically increases the luxury...
- Q Compare and contrast the constructive receipt doctrine and theassignment of income doctrine.In what situations do these doctrines apply?
- Q Question: Complete all steps in accounting cycle. (LO1, 2) AP Laura Eddy opened Eddy's Carpet Cleaners on ...Complete all steps in accounting cycle.(LO 1, 2) APLaura Eddy opened Eddy's Carpet...
- Q What is significant discovery care person of invention in cardiophlebotomists
- Q Based on a number of contracts in 2017 and 2018, Brangusrecognized $18,000 and $20,000 of book income in 2017 and 2018 forbook purposes and $12,000 and $22.000 on those same...
- Q StorSmart Company makes plastic organizing bins. The company hasthe following inventory balances at the beginning and end ofMarch:Beginning InventoryEnding InventoryRaw materials$29,600$26,800Work in process22,60047,000Finished goods78,30069,800Additional information for the month of March...
- Q describe any two contribution of entrepreneurs tosociety
- Q Bill had the following gains and losses on asset sales:$500 gain on stock held 11 months; a $2,300 gain on land held twoyears; $1,900 loss on gold coins held two...
- Q examine the entrepreneurial activities that are neededfor drawing up the strategies of a new business
- Q Rooney Chemical Company makes three products, B7, K6, and X9,which are joint products from the same materials. In a standardbatch of 374,000 pounds of raw materials, the company generates78,000 pounds...
- Q on January 1, 2014 baseline Corp. issued $20,000,000 of 12 %,Twenty-year bonds at 102. the bonds are callable at 105. Intereston the bond is payable annualy. Baseline uses the Stright-linemethod...
- Q The amount shown as Fund balance (unassigned) has not changedsince the year started. The amount shown as appropriations includesthe amounts appropriated for transfers. Property tax invoices aremailed out on January...
- Q "Winning the Jackpot!"It’s probably one of the most fun ideas to think about - winningthe lottery! So, let’s have some fun. Suppose you win the Powerballwhen the jackpot is at...
- Q Explain in details how misconduct inworkplace effects on having:1- Actual FInancial loss2- Cost of investigation have to be borne3- Loss of share in the market4- Revocation of special grant or...
- Q Molly and Mark are wife and husband and earned salaries thisyear of $12,000 and $64,000, respectively. In addition to theirsalaries, they received interest of $350 from municipal bonds and$500 from...
- Q An inexperienced accountant for Sarasota Corp. showed thefollowing in the income statement: income before income taxes$359,000 and unrealized gain on available-for-sale securities(before taxes) $88,800. The unrealized gain on available-for-salesecurities and...
- Q Presented is information pertaining to the cash flows ofthree mutually exclusive investment proposals:ProposalA ProposalB Proposal CInitialinvestment…………………………….................$60,000 $60,000 $60,000Cash flow from operationsYear1………………………………...............................50,000 30,000 60,000Year2………………………………................................6,000 30,000 Year3………………………………...............................29,000 25,000 Disinvestment………………………………......................0 0 0Life (years)………………………………….....................3years 3years 1 yearRequiredRank these investment proposals using the paybackperiod, the accounting rate of return...
- Q John Johnson has been working on Swifty Paints' cash budget forthe coming year. Based on his projections for March, the beginningcash balance will be $45,700; cash collections will be $600,000;and...
- Q Indigo manufactures and sells swimsuits for $40.00 each. Theestimated income statement for 2017 is as follows:Sales$2,000,000Variable costs1,040,000Contribution margin960,000Fixed costs790,000Pretax earnings$170,0001) Compute the contribution margin per swimsuit and the numberof swimsuits...
- Q Create a scenario where external auditors determined that acompany's internal controls were deficient, but such a deficiencymight not mean that a material weakness existed. Ascertain theimpact on the audit plan...
- Q The Angel Corporation purchased an office building for $600,00012 years ago. The corporation claimed $80,000 of cost recoverydeductions before it sold the building for $700,000.Determine the amount and type of...
- Q Smokey and the Bandit produces outdoor activity clothing. Theproduct line consists of pants, jackets, tops, and accessories.Data has been collected related to direct materials and directlabor for the four product...
- Q On July 1, 2018, Tony and Suzie organize their new company as acorporation, Great Adventures Inc. The following transactions occurfrom August 1 through December 31. Also, the balances are providedfor...
- Q make a trail balance out of the transactions providedOn August 2, Paid $2200 cash for August salon rent. On August 4,Incurred $400 of advertising costs due in 20 days On...
- Q Product costs are all the expenses related to producing oracquiring products. Period costs are all other expenses. Periodcosts are tracked during the period in which they occur andproducts costs are...
- Q The City of Imperial Falls contracts with Evergreen WasteCollection to provide solid waste collection to households andbusinesses. Until recently, Evergreen had an exclusive franchise toprovide this service in Imperial Falls,...
- Q Jensen and Stafford began a partnership to start a hardwoodflooring installation business, by investing $179,000 and $219,000,respectively. They agreed to share profits/(losses) by providingyearly salary allowances of $169,000 to Jensen...
- Q describe how concept of management is preceived inentrepreneurship
- Q Classifying Cash FlowsThe company provided the following information.(a) Cash sales for the year were $50,000; sales onaccount totaled $60,000. (b) Cost of goods sold was $55,000.(c) All inventory is purchased...
- Q Great Adventures Problem 3-1[The following information applies to the questionsdisplayed below.] On July 1, 2018, Tony and Suzie organize their new company as acorporation, Great Adventures Inc. The following transactions occurfrom...
- Q Give me some examples what changes impact are you haping to make inthe field of health care
- Q Joe Vandal LLC. last year’s sales were $10million. The companyspends $3.5 million for purchase of direct materials and $2.5million for direct labor. Overhead is $3.5 million, and profit is$500,000. Direct...
- Q The following is the ending balances of accounts at December 31,2018 for the Valley Pump Corporation. Account Title Debits CreditsCash 42,000 Accounts receivable 90,000 Inventories 115,000 Interestpayable 27,000 Marketable securities...
- Q Define the marketing concept. Describe two real companies thatin your opinion are good examples of marketing concept beingfollowed or otherwise.
- Q Required Task:Part A 1. Choose a country that has adoptedIFRSs (i.e. global accounting standards) for at least 3 or moreyears, as revealed in the accounting literature, and discuss thefollowing:I. In...
- Q SM manufactures small engines that it sells to manufacturers whoinstall them in products such as lawn mowers. The company currentlymanufactures all the parts used in these engines but is consideringa...
- Q How does a tax accountant meet its obligations to both the taxsystem and his/her client?
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