Accounting question and answers for November 22, 2023
- Q The rate of earnings is 10% and the cash to be received in three years is $10,000. Determine the present value amount, using the following partial table of present value...
- Q Cul de las siguientes cuentas se incrementara con un crdito? Una tierra; Cuentas por pagar; Dividendos B) Cuentas por Pagar; ingresos no devengados; Acciones comunes C) Dividendos;...
- Q Exercise 11-14 On January 1, 2017, Frontier Corporation had $1,100,000 of common stock outstanding that was issued at par. It also had retained earnings of $742,500. The company issued 41,000...
- Q Journal entries and trial balance On October 1,20Y4, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related...
- Q if 40,000 is put in a savings account paying interest of 4% compounded annually , what i amount will be in the account at the end of 5 years?
- Q A company shows the following balances: Sales $1,000,000 Sales Returns and Allowances 180,000 Sales Discounts 20,000 Cost of Goods Sold 560,000 What is the gross profit percentage? 44% 30% 56%...
- Q At the beginning of the year, Ann and Becky own equally all of the stock of Whitman, Inc., an S corporation. Whitman generates a $120,000 loss for the year (not...
- Q Entries for Uncollectible Receivables, using Allowance Method: Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for...
- Q Tomlinson Packing Corp began business in 2010 by issuing 20,000 shares of $5 par common stock for $8 per share and 5000 shares of 6%, $10 par preferred stock for...
- Q Lionel has been contributing $13,000 into a retirement fund at the beginning of each quarter for the past 7 years. He decided to stop making payments and to...
- Q Finished goods inventory is $190,000. If overhead applied to these goods is $72,000, and the overhead rate is 120% of direct labor, how much direct materials cost was incurred in...
- Q The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead...
- Q Ontario, Inc. manufactures two products, Standard and Enhanced, and applies overhead on the basis of direct-labor hours. Anticipated overhead and direct-labor time for the upcoming accounting period are $800,000 and...
- Q the dates of importance in connection with a cash dividend of $65,000 on a corporations common stock are january 15, february 15, and march 15. journalize the entries required on...
- Q A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units...
- Q Taylor Industries purchased supplies for $1,000. They paid $500 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a...
- Q What are the main things that company have to take into consideration before making investing decisions? elaborate.
- Q Under the limitation for specified services, the applicable percentage for purposes of the deduction limitation computation is 100% less which of the following?
- Q 1) What is more important from the standpoint of inventory costing: accrual accounting or valuation? 2) Under what condition would all four methods of inventory pricing produce exactly the same...
- Q Following is information on two alternative investments. Beachside Resort is considering building a new pool or spa. The company requires a 9% return from its investments. Pool Spa Initial investment...
- Q Based on insights from relevant literature, explain the meaning of the quality of CSR (Corporate social responsibility
- Q what is the history of revenue recognition
- Q We can freely choose which cost flow assumption to use year to year, depending on the year's operations. Group of answer choices No answer text provided. True False No answer...
- Q Marigold Corp. has 149,380 shares of common stock outstanding. In 2017, the company reports income from continuing operations before income tax of $1,222,500. Additional transactions not considered in the $1,222,500...
- Q From a 2020 43e Textbook Problem 27-41 (LO. 4, 6, 7) Gordon purchased real estate for $900,000 and listed title to the property as "Gordon and Fawn, joint tenants with...
- Q How are the operating and cash cycles of the firm different? Why are they important
- Q Using supply and demand graphs for both the bond market and the loanable funds market, show the Fisher Effect. Please show graphs, if possible! Thank you very much
- Q Managers should quickly copy or borrow techniques being used by other successful companies to make their own organization more effective and to keep pace with changing times
- Q The materials used by the Vancouver Division of Roberts Company are currently purchased from outside suppliers at $45 per unit. These same materials are produced by Roberts' Tucson Division. The...
- Q On June 1, 2010 Quang Le buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will make a...
- Q When long-lived assets are purchased with a loan, can a company report the net difference between the cost of the asset and the mortgage liability against the asset, instead of...
- Q Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000...
- Q Jim owns an apartment building with 10 identical units. He lives in one unit and rents the other nine to unrelated individuals. On April 1 of the current year, Jim...
- Q Ltd commences operations on 1 July 2016. One year after the commencement of its operations (30 June 2017) the entity presents its first Statement of Comprehensive Income and Statement of...
- Q Case Development began operations in December 2018. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For...
- Q Emerson and Dakota formed a partnership dividing income as follows: 1.Annual salary allowance to Emerson of $41,900 2.Interest of 8% on each partner's capital balance on January 1 3.Any remaining...
- Q Angelique raises cavapoo puppies. She just started this venture and wants to know what measures she can take to decrease her chances of the IRS proclaiming that it is a...
- Q Short-term investments: Answer A Are securities that management intends to convert to cash within the longer of one year or the current operating cycle, and are readily convertible to cash....
- Q Double-entry accounting is an accounting system: That records each transaction twice. That records the effects of transactions and other events in at least two accounts with equal debits and credits....
- Q Kayla reported the following amounts in her 2015 tax return: Interest income $ 6,000 Loss from sole proprietorship (20,000) AGI (14,000) Standard deduction (6,300) Personal exemption (4,000)...
- Q Selected ledger accounts for Realm Company are given below for the just-completed year: Raw Materials Manufacturing Overhead Bal. 1/1 33,000 Credits ? Debits 391,900 Credits ? Debits 435,000 Bal. 31/12...
- Q What accounts will still show a balance after the closing process is completed? are they assets, liabilities, and S.E because they are permanent accounts
- Q Leary manufacturing company purchased 4000 shares of its own previously issued $10 par common stock for $92,000. As a result of this event,: A. Leary's Common stock account...
- Q Samantha and Sam Spartan are in their mid-30s and have two young children. They live in a modest home and they have few investments. They have just started to save...
- Q A and B are partners. A has $50,000 in his capital account and B has $75,000 at the beginning of the year. A receives a salary of $15,000 and B...
- Q please explain what corporate governance is. why it's important? please explain and give examples for each force in societal enviornment.
- Q If fixed costs are $1,375,000, the unit selling price is $228, and the unit variable costs are $109, what is the break-even sales (units) if fixed costs are increased by...
- Q Fill-in-the-blank 1. An excellent internal control system cannot guarantee that _______ will not occur. 2. The petty cash fund account has a normal ________ balance. 3. A _________ _________ is...
- Q For each of the following income statement line items, state whether the item is a "by nature" expense item or a "by function" expense item.... -Cost of goods sold -Depreciation...
- Q a. An auditor reviews aged accounts receivable to assess likelihood of collection to support managements assertion about account balances of (1) existence. (2) completeness. (3) valuation and allocation. (4) rights...
- Q Explain why an individual might not be convinced to make a buy/sell decision based on the Gordon growth model (also known as the dividend discount model). Support your rationale with...
- Q Jake Marley, owner of Marley wholesale, is negotiating with the bank for a $200,000, 90 %u2013day, 12 percent loan effective July 1 of the current year. If the bank...
- Q Which of the following systems provides for a separate record of the cost of each particular quantity of product that passes through the factory? Job order cost system General cost...
- Q Lancer, Inc. (a U.S.-based company), establishes a subsidiary in a foreign country on January 1, 2016. The following account balances for the year ending December 31, 2017, are stated in...
- Q Q1. Use the following information to answer Q1a and Q1b. On Jan 1, 2019 Silver Mine Inc, received a grant of $100,000 from the local government to acquire...
- Q use the following information to compute profit margin for each separate company a through e. a.net income 5,390 net sales 44,830 B. net income 87,644 net sales 398,954 C. net...
- Q A check returned by the bank marked "NSF" means Select one: a. no service fee. b. not satisfactorily filled-out. c. not sufficient funds. d. no signature found.
- Q list 8 benefits of working with CVB?
- Q The following information is available for Elm Tree Corporation for the year ended December 31, 2015: Collection of principal on long-term loan...
- Q The Abrams, Bartle, and Creighton partnership began the process of liquidation with the following balance sheet: Cash 16,000 Noncash asset 434,000 Total- 450,000 Liability-150000 Abrams-80,000 Bartle- 90,000 Creighton-130,000 total- 450,000...
- Q Analyzing Manufacturing Cost Accounts Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized...
- Q Samantha receives a 10, 000 life insurance benefit. If she uses the proceeds to buy a 10-year annuity immediate, the annual pay-out will be 1538. If a 20-year annuity immediate...
- Q Definition of Foreign Base Company Income. Apache, a U.S. corporation, owns 80% of the stock in Burrito, incorporated in Country Y. Burrito reports the following results for the current year...
- Q The Callie Company has provided the following information: ...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Bacon Inc. has the following stockholders equity section in its May 31, 2019, comparative balance sheets:...
- Q Help with the following solution: Mountain Company buys merchandise on account from Wood Company. The selling price of the goods is $900 and the cost of the goods is $630....
- Q Regarding earnings per share (EPS) data Question 24 options: although public corporations are required to report EPS, private corporations are not. ...
- Q Managerial Accounting, 14th Edition, by Garrison, Noreen, and Brewer. Problem 14-14 is rocking my world, and not in a good way. Can anyone assist? I can provide all given and...
- Q Dr. Brenner Inc. provided you with the following information regarding investments in trading securities:Investment (Company name)Shirley SemolinaLauren's LasagnaClaribel CapelliniRobbie RigatoniShares2000100015002000Cost120,00070,000121,50076,000387,500During December the following transactions occurred:9-Dec16-Dec20-Dec31-Dec5008004002000shrs of Shirley Semolina...
- Q Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit ...
- Q The president of the retailer Prime Products has just approached the companys bank with a request for a $30,000, 90-day loan. The purpose of the loan is to assist the...
- Q Finch Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions are cash transactions...
- Q In certain countries, the tax rate applied to a companys tax return reporting income depends upon whether the profits for the period are distributed or undistributed. Amounts are initially taxed...
- Q Shortly before the end of 2021, Charlie Brown Company makes an installment sale that generates $1000 of before-tax income. Charlie Brown recognizes income for accounting purposes when the sale is...
- Q Eight years ago Chun borrowed $45,000 to purchase a machine that cost $45,000. Six years ago he borrowed $15,000 using the machine as collateral. Both notes are nonrecourse. Chun sold...
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