Accounting question and answers for November 26, 2023
- Q How much would you need to deposit now in a savings account that earns 5% interest, compounded annually, in order to withdraw $5,100 at the end of every year for...
- Q On April 1, year 20, Apple sold land to Samsung in exchange for a 700000 non interest bearing note due on April 1 year 28. Apple would have taken 439189...
- Q Embedding sound management accountancy principles at Impala Platinum has helped this South African mining group to improve cost management and remain in a competitive position. With management accountants feeding information...
- Q Campbell's Andy Warhol what are the 3 characteristics of the painting ?
- Q Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the...
- Q Determine the interest rate per year, compounded monthly, which is needed for a principal amount of OMR 25,000 to increase to OMR 47,914 in 9 years?
- Q What calculation do you perform to find the target (in units of goods sold) once you know your target profit margin and your break-even amount? Group...
- Q Warren Buffet uses a metric he has named owner earnings. How effective is Ross stores at managing cost of capital, long-term debt, and operating funds? How effective is their cash...
- Q Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance...
- Q 1. Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month...
- Q Question: Consider a social force, which can be threat for your garments business. Discuss in detail how will you avoid this threat to save your business by using your strength(s)
- Q Access the IFRS authoritative literature at the IASB website and after some research answer the following questions: In your initial post, answer what is the authoritative guidance for asset impairments?...
- Q 5 Maria Cohen is employed as a sales person in the men's department of Lee's Fashions. In addition to her weekly base salary 15 pts of $400 (35-hour week)Cohen is...
- Q What percentage of large organizations have already embarked on their RPA journey? Group of answer choices 4% 23% 9% 58%
- Q Menlo Company distributes a single product. The companys sales and expenses for last month follow: Total Per Unit Sales $ 300,000 $ 20 Variable expenses 210,000 14 Contribution margin 90,000...
- Q Among the following branches of accounting, which branch focuses on the production of accounting information for business management to enable them to manage and control daily operations and make business...
- Q Purchases Journal, Cash Payments Journal, and General Journal Freddy Flint owns a small retail business called Flint's Fantasy. The cash account has a balance of $26,860 on July 1. The...
- Q Ashley owes a debt of $7,000. The debt bears interest of 12% payable annually. What is the equal annual installments that will pay off the debt and interest at 12%...
- Q U.S. Corporation owns 45% of the stock of Foreign Corporation. Foreign Corporation is incorporated in Country T. In its first year of operations, Foreign Corporation earns 60,000 frugs of E&P,...
- Q NEED HELP ASAP PLEASE!!!!! The relationship between total liabilities and total assets is known as the: A. earnings per share. B. debt to equity ratio. C. current ratio. D. debt...
- Q DM variances In November, DayTime Publishing Companys costs and quantities of paper consumed in manufacturing its annual collegiate calendar were as follows: Actual unit...
- Q Spencer Co. has a $440 petty cash fund. At the end of the first month the accumulated receipts represent $67 for delivery expenses, $223 for merchandise inventory, and...
- Q Mendez Corporation has 10,000 shares of its $100 par value, 7 percent cumulative preferred stock outstanding and 50,000 shares of its $1 par value common stock outstanding. In Mendezs first...
- Q Required information Use the following information for the Problems below. (Algo) Skip to question [The following information applies to the questions displayed below.] Phoenix Company reports the following...
- Q Why do public officials have to practice ethics. A. Because they are accountable to the next highest governing body. B. Because they are...
- Q Which of the following is the term used to describe the discount rate at which the present value of a project's cash inflows will equal the present value of its...
- Q On June 1, 2018, Sunland Company and Coronado Company merged to form Whispering Inc. A total of 789,000 shares were issued to complete the merger. The new corporation reports on...
- Q A surface mount PCB placement/soldering line is to be installed for $2,100,000. It will have a salvage value of $140,000 after 5 years. Determine the depreciation deduction and the resulting...
- Q Davison Company determined that the book basis of its net accounts receivable was less than the tax basis of its net accounts receivable by $800,000 due to a...
- Q Juniper Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year, the company had net operating income of $490,000 on sales of...
- Q A machine with a cost of $168,000, accumulated depreciation of $104,000, and current year depreciation expense of $26,500 is sold for $55,200 cash. The amount that should be reported as...
- Q Question 3 TJA Corp. is anticipating a need to borrow $10 million in three months time for a period of six months. Its banker, Bank of America has agreed to...
- Q Managerial and financial accountants use accounting information differently. Using an income statement, balance sheet, or statement of cash flows from a real company, discuss the different ways internal and external...
- Q Umatilla Bank and Trust is considering giving Sheffield Corp. a loan. Before doing so, it decides that further discussions with Sheffields accountant may be desirable. One area of particular concern...
- Q Use Quick Books to complete the following activity: Having just completed your second year of college studying business and accounting, you are looking for summer employment when you run...
- Q Santigo, Inc. incurred their first loss during this fiscal year on both financial statement and tax returns. Suppose there are no difference between the calculation of book income and taxable...
- Q The FIST FALS This is a rule that shows how inventory is recorded. There is a cost flow and a goods (physical) flow. FALS stands for FIFO, Average, LIFO and...
- Q Rockstar Company showed the following balances in connection with its noncurrent liabilities on December 31, 2020. Bonds payable 10%, maturing December 31, 2025 ...
- Q Q20: Data for the Packaging Department for the period is as follows: Units transferred out of the department during the period, 800; Units in ending Work in Process, 200, Direct...
- Q discuss why an understanding of Legacy system technology is awesome importance to auditors
- Q Bramble Corp. had 798000 shares of common stock outstanding on January 1, issued 129000 shares on May 1, purchased 69000shares of treasury stock on September 1, and issued 60000 shares...
- Q The spot rate between Canada and the U.S. is C$1.2378 = $1, while the 1-year forward rate is C$1.2240 = $1. The risk-free rate in Canada is 3.6%. The risk-free...
- Q What happens in a situation where a parent company and its subsidiary use different inventory costing methods? in both U.S. GAAP and IFRS
- Q The Resort Corporation owns an airline and a group of gambling casinos. The airline, which has not been profitable, was discontinued on July 1, 2020. The 2020 results were as...
- Q how many years will it take for $9015 invested at 6% compounded monthly to grow to $19,627?
- Q (T / F) If ending inventory is understated, cost of goods sold is understated, resulting in an overstatement of gross margin, net income, and retained earnings. Select one: True False...
- Q The rooms department other expense was $2,000 for the month against a budget of $1,800. The relative difference: a. is 9%. ...
- Q Padfot company signed a long term contract to construct a new 4 buildings complex which will start by the beginning of 2020 and it is expected to last for 4...
- Q The following is a list of balance sheet accounts (in random order) and balances for the Premium Office Supply Company. They have been updated as of December 31, 2016. Building...
- Q Google Inc. Consolidated Statements of Income (in millions, except per share amounts) Revenues 2012 2013 Google (advertising and other) $ 46,039 $ 55,519 Motorola Mobile (hardware and other)...
- Q a) company A pays for FOB shipping, company B does record purchase but doent record the item in the inventory becuase it hasnt arrived yet. b) Company A pays for...
- Q Jason Taylor, CEO of Royal Connection Inc. (RCI) must decide important matters with quick. Some time ago, suddenly, Jason got an offer from Aberdeen Inc. (AI) to buy the company....
- Q Interest versus dividend income During the year just ended, Shering Distributors, Inc., had pretax earnings from operations of $ 484 comma 000$484,000. In addition, during the year it received $...
- Q Expand Your Critical Thinking 25-02 d (Essay) Your answer has been saved and sent to the instructor. See Gradebook for score details. ...
- Q Raiden runs her own hot dog stand on the U of A campus. The monthly cost of the cart rental and business permit is $ 600 Raidens contribution margin...
- Q 2. Stegman Company purchased a machine on January 2 for its business for $243,000. The machine has an expected useful life of 5 years and an expected salvage value of...
- Q Knapp Industries began business on January 1, 2018 by issuing all of its 1,650,000 authorized shares of its $1 par value common stock for $32 per share. On June 30,...
- Q what are implications on Australia if G7 approve new tax proposal of 15%
- Q Boyne Inc. had beginning inventory of $12,060 at cost and $20,100 at retail. Net purchases were $128,030 at cost and $198,000 at retail. Net markups were $12,100; net markdowns were...
- Q During the current year, Marsha Engles withdrew $4,000 monthly from the partnership of Engles and Cox Water Management Consultants. Is it possible that her share of partnership net income for...
- Q Daniel and Erin acquired realty for $3 million, with Daniel furnishing $1.8 million of the purchase price and Erin providing the balance. Title to the property is listed as: Daniel...
- Q Gumbo company had the following transactions during the month of December, What was December1 cash balance SINCE we already know the cash balance as of December 31, you may work...
- Q Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $80 per unit. Variable expenses are $40.00 per unit, and fixed expenses total $200,000 per year. Its operating results...
- Q Net sales minus cost of goods manufactured and sold equals ? A) Net Income B) Gross Profit C) Sales ...
- Q Denver Corporation has the following events for the year ending December 31, 20XX. Income tax rate is 30%. Income from continuing operations - 487,200; gain on disposal of plastics division...
- Q The DeVille Company reported pretax accounting income on its income statement as follows: 2021 $ 420,000...
- Q The following is an extract from the trial balance of Greatness (Pty) Limited on 30 June 2022 Cash and cash equivalents 46 000 Debtors...
- Q E9-12B Samuels Company has accumulated the following budget data for the year 2017. 1. Sales: 34,000 units, unit selling price $75. 2. Cost of one unit of finished goods: Direct...
- Q Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Inventory 110 units @ $17 5...
- Q The following issues were discovered by the audit team while performing the audit of Matador Corporation. Consider each issue independently., Identify the assertion that best pertains to that issue. Use...
- Q 2. The utility of person 1 and 2 solely depends on their income (). Person 1s utility equals 4 and person 2s utility equals 0.5. What is the marginal utility...
- Q GENERAL JOURNAL Page 92 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1...
- Q BKF.com provides banks access to sophisticated financial information and analysis via the web, enabling them to instantly evaluate both personal and commercial loan applications. To better focus on its client...
- Q Fantastic Futons manufactures futons. The estimated number of futon sales for the first three months of 2014 are as follows: January ...
- Q Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit...
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