Accounting question and answers for December 14, 2023
- Q 9.) What are the components of cost accounting? 10.) What types of products use job order costing instead of process costing?. 14.) Calculate a very basic equivalent unit calculation 15.)...
- Q What was Silver Company's direct labor yield variance if direct labor costs for June were as follows: Actual direct labor hours 30,000 Standard direct labor hours 31,500 Rate...
- Q n which of the following situations should a Tax Professional be especially wary? Many Forms W-2 for...
- Q Mason Inc. recently received at $15,000 land from the City of Corona as an inducement to locate its business in Corona. The appraised value of the land is $30,000. The...
- Q Give three examples of direct costs that would incur in a paper airplane manufacturing department (what costs can be easily traced to this specific department?)
- Q What makes a cost driver accurate and appropriate? Provide three examples of activities and appropriate cost drivers for those activities.
- Q Why is the book value of an asset likely to be different from the current fair market value of the asset?
- Q Pick a stock and evaluate its performance over the past two years. What factors contributed to such performance. Justify answer in 3 paragraphs
- Q Microsoft Excel has been the spreadsheet tool of choice, but there are other options. If you choose an alternative to Excel, how would you sell the idea to others...
- Q 1.Although Statement No. 34 requires that infrastructure assets be accounted for similarly to other capital assets, it allows for a major exception with regard to depreciation. What is that exception?...
- Q Lil Yachty sells investment land having a $30,000 basis to a partnership in which he has a 60% partnership interest. The partnership pays $26,000 (FMV) for the land. Later, the...
- Q Informacin requerida Soluciones empresariales de problemas en serie LO P1, P2, P3, P4 [La siguiente informacin se aplica a las preguntas que se muestran a continuacin.] ...
- Q 11. A company has an unanticipated increase in demand and had to increase production to more than was budgeted. Which is true about the cost of production? a. VC per...
- Q On January 1, the company issued $1.5 million of five-year, 6% convertible bonds at par value. Each $1,000 bond is convertible into 100 common shares. A similar bond (without conversion...
- Q Youre struggling in your new accounting practice to tap into a potential client base. You have tried traditional advertising and marketing tools to no avail. Your friend tells you to...
- Q Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor...
- Q How do the ratios you calculated for this year compare to those for the pharmacy last year? What factors are most likely to account for those changes?
- Q The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows: Date ...
- Q Consult paragraphs 7-10 of PCAOP auditing standards no 12. Based on your understanding of inherent risk assessment, identify three factors about IOS and or FOF that would be likely to...
- Q Hi-Tek Manufacturing, Incorporated, makes two industrial component partsB300 and T500. An absorption costing income statement for the most recent period is shown below: ...
- Q All jurisdictions have legislation protecting seniority and benefits for qualified employees who are members of the Canadian Forces Reserves and who are deployed for active service. Compare the legislated requirements...
- Q The amount of insurance remaining in the Prepaid Insurance account 125 is for six months of liability insurance. Record the liability insurance expense for the month
- Q Tempo Company's fixed budget (based on sales of 18,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget...
- Q How should an analyst interpret fluctuations in this estimate for a given company over time?How should an analyst interpret differences in this estimate between a company and its competitors?
- Q in 2021, jackson purchased a copier for his office. he paid 18,000 and elected to take bonus depreciation. his adjusted basis for depreciation in 2021 will be --------. 0; 4,500;...
- Q Which of the following costs is recorded as an increase in the work in process inventory account?
- Q On the last day in each month in 2020, Sean invests $500 to a savings account earning an annual rate of interest i. On December 31, 2020 his account has...
- Q Would an increase tax payable or allowance for doubtful accounts has increased and gross accounts receivable remains the same make net income exceed operating cash flows at year end
- Q In the Deferred Model, Group of answer choices the initial investment is deductible or excludable from gross income, and the investment earnings are taxed at the end of the investment...
- Q Statement 1: Access controls: Limiting access to systems and data based on an individual's role and responsibilities. This is a corrective control. True or False Statement2: Corrective action plans: Developing...
- Q company X sells two products, sales of product A are 1000 units at $10 per unit and sales of product B are 3000 units at $15 per unit. the contribution...
- Q Explain the difference between a cost standard and an efficiency standard. Give an example of each
- Q A) Name a possible cost driver for each cost object: Rent: __________________________________________ Transportation to move products: __________________________________ Phone bill: ______________________________________ Electricity bill: _________________________________________ B) Give three examples of direct costs...
- Q A small machine shop manufactures drill bits used in the petroleum industry. The manager re-estimates that the total daily cost (in dollars) of producing X bits is ... C(X) =...
- Q MBS 669 Reflective Presentation Value Chain Reflective Presentation
- Q Calaveras Tire exchanged equipment for two pickup trucks. The book value and fair value of the equipment were $25,000 (original cost of $72,500 less accumulated depreciation of $47,500) and $19,500,...
- Q Based on the information provided, which of the following individuals is NOT a member of the clergy? A)Karl has been hired as a youth director for his church. He will...
- Q Metro Computer, Inc. had the following balances and transactions during 2017: Beginning Merchandise Inventory as of January 1, 2017 240 units at $71 March 10 Sold 80 units June 10...
- Q DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean...
- Q REVENUE CYCLE Sales Order Processing System The customer sales order is received via phone or through the mail. Gus Grinwich, the sales clerk, receives the sales order and checks the...
- Q Lamps Unlimited, a wholesaler, sold several crates of lighting for $2,700 on account, to a customer with credit terms of 1/20, n/60. If the customer pays within the discount period,...
- Q MC Qu. 157 Cadavieco Detailing s cost formula for its materials ... Larance Detailing's cost formula for its materials and supplies is $1,990 per month plus $4 per vehicle. For...
- Q Assume that Timberline Corporation has 2022 taxable income of $284,000 for purposes of computing the 179 expense. It acquired the following assets in 2022: (Use MACRS Table 1, Table 2,...
- Q A company had sales of $250,000 during the 4th quarter of last year. They expect sales to increase by 15% in the 1st quarter of next year. How much should...
- Q Need assistance with 9-26 in managerial accounting for managers third edition by Noreen, Brewer Garrison
- Q Why are physical inventory counts made when a perpetual inventory system is used?
- Q Using the "Human Life Value" method, how much life insurance should you purchase if you take into account 3% annual inflation over the next 45 years until retirement, an annual...
- Q Chegg
- Q The following is an example of a qualitative factor: The increase in sales volume after opening three new restaurants. True False
- Q On April 1, the company issued 15,000 8% noncumulative, retractable preferred shares for $100 per share. The shares are retractable by the holder on or after September 1 of the...
- Q Reddit Booksore Inc., a distributor of books, operates out of owner Rocky's hous the end of the current period, Rocky reports he has: 832 books in his basement, 10 of...
- Q Distinguish between independent and mutually exclusive capital investment decisions. Explain why NPV (net present value) is generally preferred over IRR (internal rate of return) when choosing among mutually exclusive projects.
- Q Oriole Co. had purchased 230 shares of Washington Co. for $38 each this year (Oregon Co. does not have significant influence). Oriole Co. sold 115 shares of Washington Co. stock...
- Q In 2020, Freeze Company's ending inventory was understated $9000. The error was not corrected. What is the effect of the error on following pairings of costs of goods sold and...
- Q In addition to Social Security benefits of $8,000, Mr. and Mrs. Wells have adjusted gross income of $32,000 and tax-exempt interest of $1,000. They will file a joint return. The...
- Q 13) Presented below if the stockholders equity section of Blue Corporation at December 31, 2020: Common stock, par value $20; authorized 75,000 shares; issued and outstanding 45,000 shares $900,000 Paid-in-capital...
- Q Which control activity is intended to serve as a method to confirm the accuracy or completeness of data in the accounting system? a. Security of assets...
- Q 10. Which inventory costing method for a retail grocery chain best matches COGS with revenue? a. LIFO b. FIFO c. Weighted average d. moving average
- Q Kaiwan, Inc., una corporacin S de ao calendario, es propiedad parcial de Sharrod, cuya base de acciones inicial es de $32,000. Durante el ao, la participacin de Sharrod en una...
- Q The Direct Write-off Method for bad debts: Multiple Choice Complies with GAAP Removes a customer's uncollectible account receivable and records a bad debt expense and is...
- Q The reason why we have to consider a taxpayer's basis under the Tax Code is the concept of the recovery of capital. What, exactly, is this concept? How does subtracting...
- Q Assume you are a professional Accountants. If management has decided to create a provision for Annual Leave to recognized this expense/ liability on a progressive basis. The amount to be...
- Q Assume a land development company hired an engineer and architecture firm to conduct a feasibility study on a potential land purchase. The report indicated that the land was suitable for...
- Q To print a budget: Multiple Choice From the Company Center, select Company & Financials > Budgets From the Reports Center, select Budgets & Forecasts > Budget...
- Q florida real estate: A transaction is scheduled to close on March 10. Taxes are estimated for the year at $732. which one of these would be shown on the Closing...
- Q Calculate Interest on Promissory Note Receivable Dallas Company receives a six-month note from a customer. The note has a face amount of $8,000 and an interest rate of nine percent....
- Q what operational changes would you recommend to wally to improve performance
- Q A merchandiser sold merchandise inventory on account the journal entry to record sales allowances in the books of the merchandiser using the perpetual inventory system would be
- Q 13) DC Company has a contribution margin of 40%. Sales are $312,500, net operating income is $25,000, and average operating assets are $200,000. What is the company's return on investment...
- Q True or false: in a province that charges HST, companies must remit separately the GST and the PST?True or false: in a province that charges HST, companies must remit separately...
- Q Regression analysis can be used to determine if a cost is fixed, mixed, or variable. If a regression is performed, with sales in units as the independent variable and a...
- Q Surfline, Inc. manufactures two types of specialty equipment, model A and Model B. Manufacturing overhead has been applied on the basis of direct labor hours. Surfline gathers some activity information...
- Q Peyton sells an office building and the associated land on May 1 of the current year. Under the terms of the sales contract, Peyton is to receive $2,844,000 in cash....
- Q Which of the following is not an advantage of cloud computing when compared to clientserver computing? a. It is less costly. ...
- Q Foam Products, Incorporated, makes foam seat cushions for the automotive and aerospace industries. The companys activity-based costing system has four activity cost pools, which are listed below along with...
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