Accounting question and answers for August 18, 2023
- Q maximise revenue? x
- Q Describe how the 5 (five) COSO components play their roles in the AIS
- Q XYZ Company produces three products, A, B, and C. XYZ's plant capacity is limited to 48,000 machine hours per year. The following information is available for planning purposes:...
- Q An unfavorable flexible budget variance for variable expenses would indicate that: A. the expenses of the company were less than what they had planned.?? B. more units were actually sold...
- Q Question 2 ABC Company is selling goods to their customers for both cash and credit. The company expected that part of credit sales to be uncollectible and accounting their...
- Q #22 222 Calculate the Expected Value for Form Joint Venture Success Moderate Success Failure Probability 0.3 0.3 0.4 Sell Company 101 101 101 Form Joint Venture 210 120...
- Q Kirby, Inc. records a sale with a gross margin of $1,400. Which one of the following statements correctly describes the effect of such a sale on its balance sheet? Common...
- Q On March 3rd, Blowout Sales sells makes $3,450.00 in cash sales of general merchandise which have cost of $1,215.00. Blowout uses perpetual inventory system. a.) Journalize the sale event b.)...
- Q 11Which of the following organizations has not been instrumental in the development of financial accounting standards in the United States? A) AICPA B) FASB...
- Q A 3-year term insurance policy has an annual premium of $400, and at the end of 3 years, all payments and interest are refunded. What lump-sum deposit is necessary to...
- Q The 2023 annual report for Sandhill Industries Inc. contained the following information: (a) Calculate the asset turnover ratio for 2023. (Round answer to 2 decimal places, e.g. 52.75.)...
- Q For the year ended 31 December 2013, Jammy Jam had a net income of $2,300,000. The company had an average of 200,000 shares of common stock outstanding, 3,000 convertible preference...
- Q From the readings of the assigned chapters of the textbook, identify the role that accounting can play HealthCo Inc
- Q A firm has common stock of $100, paidin surplus of $370, total liabilities of $460, current assets of $490, and net fixed assets of $700. What...
- Q 14. The following information relates to the Smith Company for 2002: Cash dividend declared $ 300 Retained earnings, January 1,...
- Q Please help me with this question: Paul wonders if the extra money is worth pursuing more higher revenue jobs? Data: Paul has some experience with building furniture, so he...
- Q ...
- Q An accountant prepared the following post-closing trial balance: Housing Services Company Post-Closing Trial Balance March 31, 2022 Debit Balances Credit Balances ...
- Q In the coming year, Bramble, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace will be sold for $14...
- Q The step in setting working capital balances, "respond to temporary working capital needs and opportunities" involves: A. Using long-term financing to respond to seasonal needs. B. Changing the...
- Q Charleys Family Steak House (A) 1. Explain how each amount in the 2008 operating plan was determined: a. Revenues: i. Gross Sales ii. Net Sales b. Expenses...
- Q Financial accounting 1B.clear and full...
- Q Because bankers and other creditors want assurance that the money they loan to a corporation is secure, they often require owners of closely held corporations to personally guarantee loans made...
- Q On January 1, 2018, Sunland Company had 390000 shares of its $2 par value common stock outstanding. On March 1, Sunland sold an additional 748000 shares on the open market...
- Q Los siguientes datos mensuales estn disponibles para Lumberyard Company. que produce un solo producto: Precio de venta por unidad, $42; gastos variables unitarios, $14; Gastos fijos totales, $84,000; Ventas reales...
- Q You are the founder of MEGA-Unicorn Inc and just completed the first year of operation ended June 30,2021(Companys fiscal year is from July 1,2020 to June 30,2021)....
- Q I want the answers as a text, not by hand. The total cost to produce 10,000 units is SAR 880.000, and the total cost to produce 150,000 units...
- Q Can you help me figure out the value stream of operating income?
- Q Hi I need help doing these journal entries! The following transactions occurred during the first week of September. September 1- Pay the $3,175 August interest owed to the bank....
- Q In a credit decision involving a foreign currency, the seller of the goods or service: A. Has no currency preference. B. Will only make the sale if the...
- Q Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of its first year of operations: Crazy Mountain...
- Q \table[[Income Statement,Units,Inventory Costing Method],[FIFO,LIFO,\table[[Weighted],[Average]]],[Sales Revenue,,$,3,000,,,,],[Cost of Goods Sold*,,,,,,,],[Gross Profit,,,3,000,,0,,0],[Operating Expenses,,,,,,,],[Income from Operations,,,3,000,,0,,0],[Income Tax Expense,,,,,,,],[Net Income,,$,3,000,$,0,$,0],[** Cost of Goods Sold Equation,,,,,,,],[Beginning Inventory,3,000,,,,,,],[Purchases,,,,,,,],[Goods Available for Sale,3,000,,0,,0,,0],[Ending Inventory,,,,,,,],[Cost of Goods...
- Q On May 1 20xx a firm purchased a 1 year insurance policy for $1800 and paid the full premium in advance. The insurance expense associated with this policy for 20xx...
- Q Prior to adjustment at the end of the year, the balance in Trucks is $296,900 and the balance in Accumulated Depreciation-Trucis is $.99,740,...
- Q Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1. The business acquired $78,000 cash from Busby and $182,000 from Beatty....
- Q $45000. 634300 sinx00 $413700 sennoe
- Q PREPARE THE JOURNAL ENRTRIES FOR THE FOLLOWING (0NLY FROM TRANSACTON 28 TO 45 During July 2017, the following transactions, prepared by Maddie's Cleaning Service, were completed: ...
- Q can someone please help me out with this please? 1. Prepare a classified balance sheet as of December 31, 2021
- Q Botanic Choice sells natural supplements to customers with an unconditional right of return if they are not satisfied.The right of returns extends 60 days.On February 10, 2014, a customer purchases...
- Q An exchange of value between two entities that yields a change in the accounting equation is called:
- Q For each of the following scenarios, indicate which of the four basic tax planning variables (entity, character, time period, jurisdiction) impacts after-tax value. Note that more than one variable may...
- Q Company A wishes to acquire control of Company B's business. A consultant recommended that Company A can do this through a purchase of assets rather than...
- Q Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from...
- Q What are application controls? Pick a few of these and discuss a few examples of what might be a good IT control for a company to put in place.
- Q Explain the primary purpose of developing and maintaining a professional code of ethics for auditors and forensic accountants? Briefly describe the AICPA Code of Professional Conduct, the ACFE Code of...
- Q Why would a company want to lower sales or lower net income? Explain. Higher sales would mean more income- would that be a goal for a growing company? Explain. Would...
- Q Break-even sales and sales to realize operating income For the current year ended March 31, Cosgrove Company expects fixed costs of $348,600, a unit variable cost of $44, and a...
- Q Adventure Company uses the aging of accounts receivable method to estimate Bad Debt Expense. The balance of each account receivable is aged on the...
- Q Several years ago, Castles in the Sand Inc. issued bonds at face value of $1,000 at a yield to maturity of 5.6%. Now, with 5 years left until the maturity...
- Q The following information is also available: 1. The balance in Prepaid Rent was the amount paid on June 1 for the first 4 months' rent. 2. Supplies on...
- Q The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: During the year, The Shirt Shop sold 630 T-shirts for $21...
- Q Van Beek Corporation reported the following transactions for 2019: 1. Sold equipment for $21,000. The original cost was $45,000; the book value is $18,000 2. Issued 2,000 shares of $15...
- Q Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: - Sales are budgeted at $270,000 for...
- Q On January 1,2024, Joel Park established an advertising agency called Sunrise Agency. During March 2024, the company completed the following events:
- Q On January 1, 2018, QuickStream Communications leased telephone equipment from Digium, Inc. Digiums cash selling price for the equipment is $1,987,838. The lease agreement specifies six annual payments of $430,000...
- Q The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.: Salaries:...
- Q Kim Company bought 30% of the shares of Phelps, Inc., at the start of 2016. Kim paid $20 million for the shares. Thirty percent of the book value of Phelpss...
- Q P6-1 Part 2 Show how the accounts related to the preceding sale and collection activities should be reported on the current year income statement.
- Q More Info Wrote off as uncollectible the $1,500 account receivable from Blue Carpets and...
- Q 3 points The B.D. Stationary Store is required to collect and remit sales taxes to the state. If B. D. had cash sales of $2.500 that...
- Q incurred issue cost of shs. 100,000 . The bonds are redeemable after three years at a premium of \( 10 \% \). Similar bonds in the market with conversion option...
- Q Please answer the 2 questions!! 22. Which of the following statements about research and development costs (R\&D) and intangible: assets is correct? (a) Under the US. Generally...
- Q Oriole Company purchases an oil tanker depot on January 1,2022 , at a cost of $756,000. Oriole expects to operate the depot for 10 years, at which time...
- Q ROS Inc. is located in Switzerland. ROS, whose currency is the Swiss franc (SF), is wholly owned by CRO Ltd., a Canadian company with a functional and presentation...
- Q Great Adventures Problem AP9-1 Tony's favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit...
- Q 3. The employee credit union at State University is planning the allocation of funds for the coming year. The crecit union makes four types of loans...
- Q For your last assignment, which will be due next Thursday, before the last day of class, please refer back to the massage parlor business statement, attached herein. Given the way...
- Q WetEx is a profitable, over-the-water parcel delivery service operating in a large port. The firm will soon be purchasing 12 new delivery boats to replace boats in its fleet that...
- Q Question 4 Not yet answered Points out of 3.00 P Flag question Rojo Corporation has received a request for a special order of 8,000 units of product W68...
- Q 1. The following list of accounts was taken from the general ledger of Bassett Corporation on December 31, 2016. The bookkeeper thought it would be helpful...
- Q Check my work Check My Work button is now enabledItem 1Item 1 40 points Medical Research Corporation is expanding its research and production capacity to introduce a new line of...
- Q The following were selected from among the transactions completed by Harrison Company during November of the current year: Nov. 3 Purchased merchandise on account from Moonlight Co., list price $93,000,...
- Q Smith Corporation issues $1,800,000,10 - year, 9% bonds payable at a price of 98 . The journal entry to record the issuance will include a: A....
- Q Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $750. 12. The cash sales for the...
- Q A company has net sales of 5847000 and cost of goods sold of $561.500 ts net income is 5101200. The company's gross profit...
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