Accounting question and answers for November 19, 2023
- Q Assume that the City of Coyote has produced its financial statements for December 31,2024, and the year then ended. The citys general fund was only used to...
- Q Sauder Corporation reports the following information: Net income $250,000 Depreciation expense 70,000 Increase in accounts receivable 30,000 Sauder should report cash provided by operating activities of ...................... ....
- Q Which audit program used by the IRS would catch the fact that the W2 income reported by the employer does not match what the employee reported as taxable wages?
- Q whatis decentralization and would it work in a staffing agency? why or why not please include specific examples of why it would or it wouldnt work. thank you...
- Q Which of the following boiler works on a forced circulation of water? aLa-mont boiler bBenson boiler cLoeffler boiler dall of these
- Q Which of the following statements is correct? Select one: a. Only individuals need to prepare budgets. b. Only service companies need to prepare budgets. c. Only manufacturing companies need to...
- Q A4) The discount yield on a T-bill differs from the T-bill's bond equivalent yield (BEY) because;1. I. the discount yield is the return per dollar of face value and the...
- Q Tobin inherited 100 acres of land on the death of his father on October 15, 2018. A federal estate tax return was filed and the land was valued at $300,000...
- Q x
- Q Please answer with reason for all why the option is correct and why the other options are incorrect 31. Commercial accounting is based on A. O Single entry book keeping...
- Q 96. Prepaid rent appearing in trial balance should be shown in A.Trading account B.Profit and loss account c.Liabilities side of balance sheet D.Asset side of balance sheet
- Q X Company has the following estimated costs for 2020: Direct materials $63,300 Direct labor 17,600 Factory supplies 18,500 Factory maintenance 29,500 Marketing research 40,300 Factory rent 49,400 Sales salaries 41,000...
- Q x
- Q In July, one of the processing departments at Junkin Corporation had beginning work in process inventory of $19,000 and ending work in process inventory of $21,000. During the month, $195,000...
- Q Please answer with reason for all why the option is correct and why the other options are incorrect 31. Commercial accounting is based on A. O Single entry book keeping...
- Q define what qualifies as a tax.
- Q compute trend percent for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears...
- Q A company has recorded its sales volumes for the last four weeks on a daily basis. It ships products only on weekdays and has recorded the following sales volumes: ...
- Q . ABC Ltd. is preparing a budget for 2018. Following are the information related to budget preparation: (CH 10, 2.5 Marks) Budgeted selling price per unit = SAR 200 per...
- Q The depreciation charged on an asset will be credited to ________. (a) Depreciation A/c (b) Asset A/c ...
- Q Zach company owns 40% of the voting stock of the ThomasCorporation and uses the equity method in recording thisinvestment. Thomas Company reported a $20,000 ner loss. Zach'sCorporation would include a:...
- Q If there is an increases in the tolerable misstatement and a decrease in the reliability factor this would result in a decreased sample size when using Non-Statistical. True ...
- Q IMA'soverarching ethical principles include: Honesty, Fairness,Objectivity, and Responsibility. What is the ethical principlesunderlie IMA's statement.
- Q Of the following temporary differences, which one ordinarilycreates a deferred tax asset? 1. Intangible drilling costs 2. MACRS depreciation 3. Rent received in advance 4. Installment sales
- Q 1. A company borrowed 40,500,000 TL annually for 10 years with an annual capital cost of 45% for investment. With the investment made, 1800,000 units will be produced...
- Q The capital investment committee of Rigma Life Co. is currently considering purchasing a new hologram machine to create fictitious voters and has the following information: Purchase price $240,000...
- Q choose the response that correctly completes the following sentence about canceled debt. when the debt is held jointly by both spouses.
- Q Lin Corporation has a single product whose selling price is $140 per unit and whose variable expense is $70 per unit. The companys monthly fixed expense is $31,600. Required: 1....
- Q Question Paul, Peter and Steve are partners in an office supply business. The following is their balance sheet as at 2021 June 30. The partners share profits in...
- Q Exhibit A Katy Porter, is the daughter of a Baron and cousin to a very popular designer, as well as a very successful business woman. Katy is involved in a...
- Q Bonita Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,750 at the end of each of the next 10 years. Assuming that...
- Q Jean invested $348,279 in a fixed deposit at 7.5% per annum. After 2 years, the bank increased the interest rate to 9% per annum, which would be applicable to the...
- Q what is the periodicity assumption
- Q Asset disposal A/c is prepared when _______. (a) Provision for depreciation A/c is prepared (b) Asset A/c is prepared...
- Q On january 1, Molini corporation had 95000 shares of no-parcommon stock issued and outstanding. The stock had a stated valueof $5 per share. During the year the following occured: 1....
- Q Which would more likely be audited using an analytical procedure model: sales person commissions or legal fee expense? Explain
- Q Determine the variance and % variance for the following: Month Guests this year Guests last year Variance (This Year - Last Year) ...
- Q Trial BalanceDecember 31, 2020 Debits Credits Accounts payable $ 24,900 ...
- Q This is a debenture for which the company does not keeps any records and which can be transferred without any formal notice the debenture is- A. General debenture B. Convertible...
- Q 1 Case problem: The Redwood plant makes two types of rotators for automobile engines: R361 and R572. The old cost system at the plant traced support costs...
- Q A business had many options when preparing a budget. What is the most important act when using a budget? Explain your response.
- Q What is acumulated depreciation
- Q Question: The break-even point occurs when: a) Total revenue equals total costs b) Total revenue exceeds total costs c) Total revenue is less than total costs d) Variable costs equal...
- Q The company makes all sales on account and the collections pattern is as follows: 25% in the month of sale, 60% in month following sale, 15% in the second month...
- Q What is meant by continuous budget? A budget that is based on the previous year, adjusted for known changes A budget prepared from first principles ...
- Q 1. For the recent year, conduct segment analysis of Ford Motor Company (Segment analysis is to find out various products offered by the company, or a product offered by a...
- Q If the sum of the debit column equals the sum of the credit column in a trial balance, it indicates
- Q compare Japanese accounting system with Bahrain's accounting system.
- Q Item5 10 points Item Skipped eBookPrintReferencesCheck my workCheck My Work button is now enabled2Item 5 Exercise 6-10 Lower of cost and net realizable value LO4 Showtime Companys ending inventory at...
- Q Table 9.1 presents examples of some common accounting decisions and how companies following a conservative, moderate, aggressive or fraudulent strategy might use these to manage earnings. Prepare a similar table...
- Q How is the payback period computed, and what are its advantages and disadvantages?
- Q How is salvage value relevant in determining the maximum amount of depreciation expense on an asset? Accounting
- Q PART 1: The control environment encompasses the entire organization and all of its functions. Visit a local business or use the company for which you work. Identify the type of...
- Q Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company granted 25 million of its $1 par common shares, subject...
- Q Identify the types of nonexchange revenues that are most likely to result in differences in the timing of recognition between the accrual and modified accrual bases of accounting?
- Q As per the rule of Garner V. Murray, the deficiency of the insolvent partner is shared by the solvent partners in their A. Profit sharing Ratio B. Capital Ratio C....
- Q This is a management accounting question. This question also includes solving for NPV, relevant cost and break even point but I know how to do them. Just focus...
- Q will the stated interest rate be higher than the marketintrest rate or will the market intrest rate be higher thanthe stated intrest rate when a bond is issued at a)...
- Q DO IT! 11.2 (LO 2), AP The standard cost of product 777 includes 2 units of direct materials at $6.00 per unit. During August, the company bought 29,000 units of...
- Q Both are paid time and a half for any hours worked over eighthours each workday and work on Saturdays and are paid twice theregular hourly rate for work on Sundays...
- Q Question 2(40 marks) You are the senior on the audit of Akha (Pty) Ltd for the financial year-end 29 February 2016. The company...
- Q Identify each of the following as an accounting principle assumption or constraint, full disclosure going concern measurement monetary unit
- Q geely 2022 statement of financial position
- Q A company issues $25200000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $24701221....
- Q Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 12 units @ $45 11 Purchase 13 units @ $47 14 Sale 18 units 21...
- Q On the income statement, revenues minus expenses equals:
- Q Joyner Companys income statement for Year 2 follows: Sales $ 719,000 Cost of goods sold 209,000 Gross...
- Q x
- Q Carla Vista Equipment sells equipment to sports enthusiasts. Doug Carla Vista, the companys president, just received the following income statement reporting the results of the past year. ...
- Q Waterway Company produces flash drives for computers, which it sells for $30 each. Each flash drive costs $9.00 of variable costs to make. During April, 3000 drives were sold. Fixed...
- Q How can we compute the break-even point for a multiproduct company?
- Q Question: Which of the following costs is classified as a variable cost? a) Property taxes b) Direct materials c) Salary of a factory supervisor d) Depreciation on factory equipment
- Q P3-2B Badger Motel, Ltd. opened for business on May 1,2017. Its trial balance before adjustment on May 31 is as follows Instructions (a) Journalize...
- Q Question: Which of the following statements is true regarding the accrual basis of accounting? A) Revenue and expenses are recorded when cash is received or paid. B) Transactions are recorded...
- Q Which of the following items would cause the balance of the cash in the bank statement to be different from the balance of the cash and the counting records...
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