Accounting question and answers for September 12, 2023
- Q The Town of Hyde Park, OH signed a contract for street improvements to be performed by a private contractor in the amount of $2,205,600, during FY 2017. Assume all transactions...
- Q i just need bonds payable 3 activities journal entries please Instructions: 1. Work in group of 3 to 4 students. 2. Select two accounts from...
- Q When statistical sampling methods are used by the client in determining inventories, professional standards require that the auditor ascertain the following EXCEPT that the: appropriate tests of transactions have been...
- Q Determining Lower of Cost or Net Realizable Value (NRV) Crane Company had the following inventory at December 31, 2017. Unit Price QuantityCostNRV Desks Model 900174$190$210 Model 900249280268 Model 900324350360 Cabinets...
- Q You bought a $1000 corporate bond for $910 three years ago. It is paying $25 in interest at the end of every 6 months, and it matures in 6 more...
- Q How to analyze the Current Ratio?
- Q Horry-Brunswick Railroad, Inc. bonds are currently trading at $862. The bonds have a face value of $1,000, a coupon rate of 10%, and 8 years until...
- Q During 2019, Troy has the following capital transactions: $6000 LTCG $2000 long-term collectible gain $4000 STCG $10,000 STCL After netting process: 1. LTCG of $2,000 2. Long-term collectible gain of...
- Q Skysong Enterprises Ltd., a private company following ASPE earned accounting income before taxes of $1,712,000 for the year ended December 31,2023. During 2023,...
- Q A company reported total equity of $171,000 at the beginning of the year. The company reported $236,000 in revenues and $178,000 in expenses for the year. Liabilities at the end...
- Q Physical year is an accounting time period that starts on January 1 and ends on December 31. Select one: O True O False
- Q A cash budget by quarters for the Carney Company is given below (note that some data are missing). Missing data amounts have been keyed with either question marks or lowercase...
- Q a partnership reported 74000 ordinary loss and a 28000 increase in recourse liabilities for which the partners are liable. Ashley is a 50% partner and had an adjusted basis of...
- Q Retro Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share....
- Q Northwood Company manufactures a basketball selling for $25 per unit in a small plant heavily relying on direct labor workers. Thus, variable expenses are high, totaling...
- Q paid 5000 in legal fees on the purchase of the plant site
- Q A mortgage applicant who has a monthly gross income of $4,770 applies for a mortgage with monthly PITI of $1,669.50. The applicant's other financial obligations total $281.43 per month. (Use...
- Q internal controls for cash disbursements
- Q NESTLYNNE Corporation has manufactured 100,000 units of Product X in 2019 at the following costs: Labor- P242,500 of which 93% represents direct labor, Materials- P182,500 of which 90% represent direct...
- Q NOTE: This is all one question. It has 10 different parts Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of...
- Q Elliot Company produces two products. Product A and Product B. Elliot can sell all the units it produces of each product but it has limited production capacity. Product A requires...
- Q Peabody (1994) 181 CLR 359. Part IVA, anti- avoidance provisions, specific anti avoidance provisions, ATO rulings and relevant cases. can I get these points about that article
- Q The Sales Discounts Forfeited account O A. represents additional sales revenue O B. C. is a balance sheet account represents the discount lost when a customer does...
- Q Accounts receivable has a debit balance of 3200. and the allowance for uncollectible accounts has a credit balance of 550. A 50 accounts receivable is written off. Early the following...
- Q At the end of the day, the cash register tape shows $1,060 in cash sales but the count of cash in the register is $1,085. The proper entry to account...
- Q Your direct costs for a given project are $520,000. If you apply a markup of 18% to cover field indirect costs and home office overhead and want to make an...
- Q 15) True and false (10 1.5 = 15 ) Questions 1 2 3 4 5 6 7 8 9 10 Answers ...
- Q (Ignore income taxes in this problem.) Henscheid Roofing is considering the purchase of a crane that would cost $104,972, would have a useful life of 7 years, and would have...
- Q can a paralegal assitant who is negligent while working on a clients case be sued by the client for malpractice? can this paralegals attorney- employer be sued? if so on...
- Q Crystal Displays Inc. recently began production of a new product, flat panel displays, which required the investment of $1,500,000 in assets. The costs of producing and selling 5,000 units of...
- Q adjusted trial balance excercise. my answers arent balancing would like to know where i have gone wrong , thanks heaps ...
- Q Harold bought stock in Macy's, inc. on Jan 23, 2019. It has performed really well, and on December 20,2019 he decides he would like to sell the stock in order...
- Q Discuss the current operating performance concept of income and the all-inclusive concept of income. Is comprehensive income consistent with either of the two? Discuss why or why not.
- Q plz fast
- Q Current Attempt in Progress BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs...
- Q 7 7
- Q Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system). Sold $28,000 of merchandise, which cost $21,400, on Mastercard credit cards. Mastercard charges...
- Q 9. Which of the following statements contains a mistake? A sound argument is a deductive argument that is not only valid but begins with premises that...
- Q Marcus has won a $9 000 000 state lottery. He can take his prize as either 15 yearly payments of $600,000 or a lump sum of $5,135,000 . Which is...
- Q On February 1, 2008, Pat Weaver Inc. (PWI) issued 10%, $2,000,000 bonds for $2,116,000. PWI retired all of these bonds on January 1, 2009, at 101. Unamortized bond premium on...
- Q Efficient Business Systems Adjusted Trial Balance March 31, 2018 Balance Account Title Cash Accounts Receivable Merchandse Inventory Office Supples Equipment Accumulated Depreciation Accounts Payable Salaries Payable Notes Payable,...
- Q QUESTION In international taxation; debt financing is more preferably than equity financing. Critically discuss why is that the case and explain how does the income...
- Q Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: $40,000 Raw materials Work...
- Q oscoe companys comparative balance sheet show total assets of $1,090,000 and $945,000, for the current and prior years, respectively. The percentage change to be reported in the horizontal analysis is...
- Q Please help! Required information Skip to question [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Co. borrowed cash from First...
- Q Referring to the legitmacy theory, discuss the implications of a company that fails to comply with society"s expectation
- Q Required information [The following information applies to the questions displayed below.] The fixed budget for 20,600 units of production shows sales of $535,600; variable costs of $61,800; and...
- Q 3 questions in total Current Attempt in Progress Spring Water Company Ltd. needed to raise $69 million of additional capital to finance the expansion of...
- Q Which one of the following is NOT true of the Principles in the AICPAs Code of Professional Conduct? They are set forth as enforceable standards. They are expressions of ideals...
- Q In 2021 a single individual operates a business as a sole proprietorship. The business has revenue of $280,000 and expenses of $112,000. The individual also has $4,000 in capital loss....
- Q I need help with this question please. thank you! Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.) 2. What is...
- Q which of the following should prevent members of the affiliated group from transferring appreciated assets to absorb any losses that would be disallowed in the event of a disposition or...
- Q During the current fiscal year, a company had revenues of $530,000, cost of goods sold of $380,000, and an income tax rate of 35 percent on income before income taxes....
- Q Grand Champion Inc. purchased Americas Sweethearts Corporation on January 1, 2016. At the time, Americas Sweethearts had the following assets and liabilities (stated at fair value): Cash $63,000...
- Q Forrester Company is considering buying new equipment that would increase monthly fixed costs from $379,500 to $507,000 and would decrease the current variable costs of $75 by $10 per unit....
- Q Zach exchanges land held for investment for an office building used in a business owned by Julie. The fair market value of Zach's land is $240,000 and his adjusted basis...
- Q The Burlington Company has 12,000 units in beginning finished goods. If sales are expected to be 60,000 units for the year and Burlington desires ending finished goods of 15,000 units,...
- Q Marigold Corp. uses a periodic inventory system and reports the following for the month of June. (a) Compute the cost of the ending inventory and the cost of...
- Q General Mills needs a steady supply of ingredients for processing. What are some risks the company faces regarding its ingredients?
- Q On January 1, the partners of Van, Bakel, and Cox (who share profits and losses in the ratio of 5:3:2, respectively) decide to terminate operations and liquidate their partnership. The...
- Q The adjusting entry for unearned revenues will be by Cr. revenues and dr. Liabilities. Select one: True O False
- Q pls answer all pls Profits have been decreasing for several years...
- Q Following are the total assets and liabilities at the beginning and end of the year for Maren Company. Beginning of Year:Assets:80,000,Liabilities:35,000 End of year:Assets:118,000,Liabilitites:40,000 Determine the...
- Q Sharon Lee Corporation has pretax financial income (or loss) from 2020 through 2026 as fllows. \table[[,Income (Loss),Tax Rate],[2020,$67,200,25% (98,000)20% 126,00020% 42,00020% 147,00020% (84,000)25% 178,00025%...
- Q Pool Corporation is the worlds largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation which trades on the NASDAQ exchange...
- Q Hickory Company manufactures two products13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor- hours. It...
- Q Do you think that the owners of a corporation can maximize the object of the firm and satisfy the socially imposed constraints? Did the accounting standard rules played any role...
- Q Suppose that in January 2006, Kenneth Cole Productions had EPS of $1.65 and a book value of equity of $12.05 per share. ...
- Q In many organizations, responsibility for testing Segregation of Duties is relegated to the IT auditor. The reasoning behind this assignment correlates SOD controls to logical system access. -If you were...
- Q Suppose your mortgage is $55,400 for 25 years. The index rate is 7.5% and the margin is 2.5%. After three years, the Treasury index decreases to 6.5%. Using the adjusted...
- Q How to solve
- Q Describe the role protocols play when engaging with specialist advisors?
- Q A fire on the premises of montreal inc destroyed most of its records. Below is an incomplete set of data for operations in 2022 raw materials beginning inventory 13000 purchases...
- Q Don is a florist, and this year one of his flower delivery vans was damaged in a traffic accident. The van was originally purchased for $32,000 and the adjusted basis...
- Q Provide a brief Explanation on following accounting matters on how they are impacted by Corona-virus Disease: Intangible Assets Financial Instruments Please provide the explanation like following:...
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