Accounting question and answers for December 13, 2023
- Q Sold two deluxe mixers for $2,100 cash
- Q On January 1, 2016, Lamb Services issued $200,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $193,537 when the market...
- Q The following information is available for Sheffield Corporation for the year ended December 31, 2020: cost of goods sold $214,000, sales revenue $449,000, other revenues and gains $52,000, and operating...
- Q Required: John and Mary Peters have contacted you for advice about a new business endeavor. Recently, the couple have become very aware of the problem with homelessness in the Central...
- Q The Tee Division of D. Marshall Inc. reports current sales of $1,400,000, current operating income of $350,000 and investment turnover of 2. Compute the current value of the Tee Division's...
- Q 3. Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted when the offer came through at $22.00 per hour....
- Q Floyd and Merriam start a partnership business on June 12, 2019. Their capital account balances as of December 31, 2020 stood as follows: Floyd $50,000 Merriam 20,000 They agreed to...
- Q Maud'Dib Intergalactic has a new project available on Arrakis. The cost of the project is $36,000 and it will provide cash flows of $19,800, $25,300, and $24,200 over each of...
- Q Topic 2 DQ 2 - What is Title IX and how does it support you as a GCU student?
- Q Iverycoast Inc. purchased a van on January 1, 2015, for $800,000. Estimated life of the van was 5 years, and its estimated residual value was $90,000. Iverycoast uses the straight-line...
- Q Lomax Enterprises purchased a depreciable asset for $23,000 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four year useful life. Assuming the...
- Q Coolbrook Company has the following information available for the past year: River Division Stream Division Sales revenue $ 1,216,000 $ 1,804,000 Cost of goods sold and operating expenses 881,000 1,296,000...
- Q Brief, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2017, Brief correctly included this receivable for 237,500 local currency...
- Q Yazlm odakl bir irketin karbon emisyonlarnn ou genellikle nereden gelir?
- Q Case 11-1 Jackson sound. Circuit dept. has improved and reduced production times from 12.5 standard labor hours to 10.4 Improvements have caused more production and a build-up of inventory passed...
- Q Towson Corporation, alt aylk faiz tarihinde 104'ten 200.000 $'lk %7'lik on yllk tahvil ihra etti. Towson, herhangi bir tahvil primini veya indirimini amorti etmek iin dz izgi yntemini kullanr. Her...
- Q How do public accountants differ from management accountants? (50-100 words minimum)
- Q Hi, can you please assist with this question c only. I have already done a and b. a. Company x has 25,000 bonds outstanding that trade at par value (each...
- Q SAGE 50 PROJECT THE FANZI R. COMPANY Fanzi R. opened the FanziCo on January 2,2022 specialized in sale of 3 sporting goods: Product...
- Q Compound interest is one of the most important concepts to understand when managing your financesIt can help you a higher return on your savings and investmentsbut it can also work...
- Q Si el inventario de mercancas se valora al costo y el precio de compra cae constantemente, qu mtodo de costeo producir la mayor utilidad neta? a. costo promedio ...
- Q How does the subsidiary account for the equity carve out transaction?
- Q he future lifetime of (0) follows: S0(x)=(50/50+x)3, x0 Calculate e20. A 5 B15 C25 D35 E45
- Q Is Unearned Revenue actually Revenue or not? Explain in detail using complete sentence form.
- Q Assume the same facts as question #13 above except that Josh lives in Delaware and Amanda lives in New Jersey. Which court(s) may she file her initial lawsuit in? I....
- Q What is experience rating system and how can an employer qualify for a lower tax rate?
- Q The following information relates to the Jimmy Johnson Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2010 $ 52,600 100 December 31, 2011 106,117 121 December 31, 2012...
- Q Explain how you, as an accountant not an auditor, could use a flowchart of an accounting system to assess systems risk.
- Q This time Ron is at his wits end. He has sent the accounting team out of his office to rework the numbers. "That simply cannot make sense. If I'm making...
- Q On June 12, 2019, Minute Company purchased 1,000 shares of Second Company for a total of $18,250 and designated the shares as a FVOCI investment. On September 30, 2019, Minute...
- Q Hudson Community College enrolls students in two departments, Liberal Arts and Sciences. The college also has two service departments, the Library and the Computing Services Department. The usage...
- Q The following balance sheet information was provided by Otto Company: Assets 2014 2013 Cash $ 2,800 $ 1,800 Accounts receivable 7,800 5,800 Inventory $ 28,000 $ 29,000 Assuming that net...
- Q Explain professional skepticism practice by the individual auditors.
- Q On January 1 Providence, Incorporated, issues $1,000,000 of 10 percent, 5-year bonds at par value.
- Q La mejora del gobierno corporativo y la informacin financiera por parte de SOX debe agregar los siguientes beneficios, excepto: Mejora de la confianza de los inversores. Aumento del...
- Q which of the following is a capital asset? a. A literary work held by the author. B. Real estate held by developer c. A taxpayer's principle residence. d. A truck...
- Q Discuss the factors to consider when choosing between taking the child and dependent care credit and participating in an employer-sponsored qualified dependent care assistance program.
- Q political cost hypothermia of positive accounting theory and what are the various strategies firms can use to avoid political costs
- Q Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet December 31, 2014 and 2013 ...
- Q Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the Year Ended December 31,...
- Q Assume that three accountants have been selected to measure the net income of a firm under U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS). The...
- Q During its first year of operations, XYZ Corporation issued 30,000 of $1 par Class B shares for $385,000 on June 30, 2018. Share issue costs were $1,500. One year from...
- Q An investment offers $10,000 at the end of each year for ten years. If you can earn 10 percent annually, what is this investment worth today?
- Q There are four methods for inventory costing: LIFO, FIFO, weighted average and specific identification. What are the differences between each method? How does each method affect the balance sheet and...
- Q Karen formed Grebe Corporation with an investment of $100,000 cash, for which she received $10,000 in stock and$90,000 in 7% interest-bearing bonds maturing in ten years. A few years later,...
- Q Bakers corporation purchased a depreciable asset for $22,000 on March 1, year 1. The asset will be depreciated using the straight-line method over its four year useful life. Assuming the...
- Q A small landscaping company buys rocks and lumber. One of the project managers is responsible for ordering the lumber, which he does by calling up the lumber dealer and ordering...
- Q When you are reconciling a bank statement, it's recommended that you do the following?- List your balance - List your bank statements balance - Record checks outstanding - Record...
- Q Record the following journal entry Paid sales staff wages of $1,870 for the week up to and including yesterday, Check No. 799.
- Q A frivolous lawsuit may be dismissed by all of the following except: a. A motion by the plaintiff. ...
- Q Una empresa con $70 000 en activos circulantes y $50 000 en pasivos circulantes paga un pasivo circulante de $1000. Como resultado de esta transaccin, la razn circulante y el...
- Q Which of the following statements accurately defines a theory? Question 1 options: An explanation for a phenomenon that is either observed or unobserved An idea that someone believes is...
- Q HIL Ltd. was making provision for non moving stocks based on no issues having occurred for the last 12 months upto 31.03.2017. The company now wants to make provision...
- Q Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 500 650 800 Total costs Variable costs $ 66,500 ? ?...
- Q Mauban Company tiene en circulacin un bono de valor nominal P10,000,000 al 7% a 10 aos. El bono se vendi originalmente para rendir un inters anual del 6%. Mauban utiliza...
- Q Electronics Service Company pays salaries monthly on the last day of the month. The following information is available from Electronics for the month ended December 31, Year 1:...
- Q On November 1, Year 1, Noble Co. borrowed $80,000 from South Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated...
- Q At the end of 2013, Morley Co. has accounts receivable of $891,400 and an allowance for doubtful accounts of $26,620. On January 24, 2014, it is learned that the companys...
- Q The balance in the prepaid insurance account, before adjustment at the end of the year, is $9,760. Journalize the adjusting entry required under each of the following alternatives for determining...
- Q The Ghafoor Company paid $ 2 of dividends this year. If its dividends are expected to grow at a rate of 3 percent per year, what is the intrinsic...
- Q Accelerator Co. has collected the following data for April: Budgeted direct labor: 4 hours per unit at $8 per hour Direct labor efficiency variance: $2,200 (U) Actual direct labor cost:...
- Q Reardon Retail Company consta de dos tiendas, A y B. La tienda A tuvo ventas de $80 000 durante marzo, una razn de margen de contribucin del 30 % y...
- Q tone Corporation has 25 employees and incurs total wages and salaries expense of $900,000 per year. The following table shows various payroll amounts as a percentage of this annual wage...
- Q A transaction in which a purchaser grants a lender a security interest in real property is _____. A. a quitclaim deed B. a general warranty deed C. a special warranty...
- Q Fenny Ltd.s comparative statements of financial position and statement of profit or loss and other comprehensive income for the year ended 30 June 2017 are shown below: ...
- Q journal entry :Paid a $154 cellphone bill ($88 for the May 2024 account payable and $66 for the month of June). (Recall that the cellphone is only used for business...
- Q Larned Corporation recorded the following transactions for the just completed month. a. $72,000 in raw materials were purchased on account. b. $70,000 in raw materials were used in...
- Q Salvadores Manufacturing builds and sells snowboards, skis and poles. The sales price and variable cost for each follows: Product Selling Price per Unit Variable Cost per Unit Snowboards $310 $180...
- Q old south beach company purchased investments for $55,000
- Q Estimation and Recognition of Warranty Expense Historically, warranty expenditures have been equal to 4% of sales. Total sales for the year were $650,000. Actual warranty repairs made during the year...
- Q kipling company deposits all receipts and makes all payments by check the following information is availafor from the cash records. balance per bank 7000 add deposits in transit 1540 deduct...
- Q De acuerdo con el mtodo de justificacin presunta de la contabilidad de los gastos, cul es la cantidad mxima que se permite a los contribuyentes como deduccin sin estar obligados...
- Q Using the information provided below, determine the life-cycle cost per unit of the industrial processing system (show all calculations). INFORMATION In addition to the mining equipment, the industrial processing division...
- Q X Company incurred the following total costs in 2014: Direct materials $58,000 Direct labor 108,161 Overhead 173,932 The following additional information was available: There was one job,...
- Q According to records, Borges Distributors, $1,110,000 was subject to 6.0% SS tax and the 1.5% Medicare tax. Also, $50,000 was subject to state and federal unemployment taxes. a....
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