FREE Trial S
  1. study help categories
  2. business
  3. accounting qa by year and month

Top Selling Accounting Questions

Your success in business thus far has put you in a position to purchase a home for $500,000 located close to the university you attend. You plan to pay a 20% down payment of $100,000 and borrow the... On January 1, 2021., Labtech Circuits borrowed $270,000 from First Bank by issuing a three-year, 9% note, payable on December 31, 2023. Labtech wanted to hedge the risk that general interest rates... The controller for Haley Corporation is concerned about certain business transactions that the company experienced during 2015. The controller, after discussing these matters ,,vith various... Palmer Corporation, operating as a US. corporation, expects to order goods from a foreign supplier at a price of 200,000 pounds, with delivery and payment to be made on April 15. On January 15,... Douglas Company's beginning inventory and purchases during the fiscal year ended December 31, 20--, were as follows: Units Unit Price Total Cost January 1, 20-- Beginning inventory 1,080 $ 8 2$ 8,640... Peanut Company acquired 100 percent of Snoopy Company's outstanding common stock for $315,000 on January 1, 20X8, when the book value of Snoopy's net assets was equal to $315,000. Peanut chooses to... Three production processes-A, B, and C-have the following cost structure: Fixed Cost Variable Cost Process per Year per Unit $120,000 $3.00 90,000 4.00 80,000 4.50 a. What is the most economical... The acquisition cost of a bus is $100,000. The trend in operating costs can be given by the equation $/km 0.5 + 5 x 10-6 d where d is the number of kilometers traveled from new. A bus travels an... Mei-ling and her friend Curtis Lesperance decide that they can benefit from joining Match a Creations and Curtiss coffee shop. In the first part of this problem, they come to you with questions about... On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April: Opened a business bank account with a deposit of... A U.S. company sells goods to a customer in Canada on October 20, 2017, at a price of CS1,000,000. The company receives payment from the customer, in Canadian dollars, on February 1, 2018. The... Assume you are producing and selling Ethiopian cultural clothes. Customers complain the lack of creativity and quality in your product. Explain how you segment, target the market and position the... Three types of gasoline are manufactured by a company Regular, Super, and Extra. Regular should have at least 11 percent additive 1 and 17 percent additive 2. Super should have at least 13 percent... Two years ago, you opened an investment account and deposited $5,000. One year ago, you added another $2,000 to the account. Today, you are making a final deposit of $7,500. How much will you have in... Hardy and Dora Knox are married and file a joint return for 2019. Hardy's Social Security number is 466 - 47 - 3311 and her birthdate is January 4,1975. Dora's Social Security number is 467 - 74 -... Platinum Web Services designs and maintains websites for small business entrepreneurs. Competition has been intensifying in recent years and the company has been losing business to larger web design... On July 31, 2022, Cullumber Company had a cash balance per books of $6,250.00. The statement from Dakota State Bank on that date showed a balance of $7,800.80. A comparison of the bank statement with... Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2021, for $680,000 cash. At the acquisition date, Sierras total fair value, including the... 1. List your most relevant conclusions from the Foxy Originals case. 2. As Ger and Chemel, what is your decision? Why? 3. How does the information generated by the managerial accounting systems... 1. Company ABC's password policy has always been that the system generates passwords for its users instead of letting them pick their own. The passwords are random 8-character strings with upper and... You are to prepare a tax return using the following information. You will need to use Form 1040, Schedule B if applicable, you determine. John, age 53, (social security number 554-78-4556) is single... Imagine you work for an auditing firm. Your most recent task is to determine whether or not your firm should bid to perform the auditing services of a public company. Determine the fundamental kind... Crane Company, which began operations at the beginning of 2018, produces various products on a contract basis. Each contract generates a gross profit of $75,000. Some of Crane's contracts provide for... 8. The Honorable East India Company must pay two liabilities, 100, 000 in exactly three years (t = 3) and 120, 000 in exactly five years (t = 5). The current interest rate is 8% effective per year.... Riyaz is a public listed company with a reporting date of 30 November 2016. It owns and operates various online businesses. Its customers order goods through Riyaz's websites, and these goods are... Colours Ltd has three production departments (Blue, Red and Green) and one service department in its factory. A predetermined overhead absorption rate has been established for each of the production... Exhibit 1 presents a partial MRP transaction report for the parts necessary to manufacture the lamp shown in the product structure to the right. Compete the MRP transaction report in the exhibit for... c). Assuming that Thomas Co. had a balance in Merchandise Inventory on December 1 of $6,000, determine the balance in the Merchandise Inventory account at the end of December for Thomas Co. (Post... Chocolat Inc. is a producer of premium chocolate based in Palo Alto. The company has a separate division for each of its two products: dark chocolate and milk chocolate. Chocolat purchases... Meyer Co. follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. The company's annual accounting period ends on December 31, 2011. The following... 1. How much does Warkworth incur in holding costs each year with its current system of delivering directly from the factory to its stores? 2. Say Warkworth opens a distribution center in southern... Suppose you own a successful food truck business in Portland, Oregon. After a few years of operation, you decide to expand your business to other cities in Oregon. In order to start a new business,... Database Systems Introduction to Databases and Data Warehouses 1st ed Nenad Jukic, Answers Identify 2 specific Australian companies that your chosen costing system is suitable for, and explain why. Edwin, Marketing VP of Amalgamated Sales, Inc., writes a letter dated August 1 to Bargain Stores, Inc., offering to sell candy to Bargain Stores at $50 per case for the next one month. In mid August,... Marco Polos Travels: How does Polo characterize Kinsay, and what does his description reveal about European priorities and values in the late thirteenth century? Why would European merchants find... Pintime Industries Inc. entered into a business combination agreement with Sydrolized Chemical Corporation (SCC) to ensure an uninterrupted supply of key raw materials and to realize certain... Ron Christian and his wife, Kay established a carwash, Crossroads on 20 acres of worthless desert land 30 years ago on the outskirts of El Paso. They would have never imagined the urban sprawl that... On July 1, 2020, Moira and Johnny organize their new company as a corporation, The Crowening Inc. The articles of incorporation state that the corporation may sell 200,000 shares of common stock with... Place-Plus, a real estate development firm, is considering several alternative development projects. These include building and leasing an office park, purchasing a parcel of land and building an... The SUTA rate for Worldwide Industries is 4.2% and its FUTA rate is 6.2% less the 5.4% SUTA credit. If its weekly payroll is $52,174 and none was for payments to employees in excess of the $7,000... Indicate whether each of the following actions would result in a change in unrestricted, temporarily restricted, or permanently restricted net assets this year. a. A donor gives the organization a... Inventory management Three companies that compete in the footwear market are Foot Locker, Finish Line, and DSW. The table below shows inventory levels and cost of goods sold for each company for the... On June 30, Year 3, Franza Companys total current assets were $900,000 and its total current liabilities were $360,000 On July 1, Year 3, Franza issued a short term note to a bank for $72,000 cash... CT Gift Shop is profitable but has a cash flow problem as of the end of June. December is the busiest month, and the shop expects to make a decent profit by the end of the year. As of the end of... One of Spa Magic's products is a whirlpool spa. Two processing departments are involved in the whirlpool spa's manufacture. The tub is assembled in one department, and a second department assembles... You have been hired by Hill and Associates, CPAs, as a first year accountant. The firm has a client who is in need of some tax advice. One of the partners of the firm has asked you to help this... Parent acquired 100% of Subsidiary on December 31, 20X0, when its net book values and fair values were as follows. Note Note Receivable Payable 7 Term Interest rate 4.20% 4.50% Remaining useful life... how Brunos decision to increase the use of robots and the general trend of increasing automation could affect in the future the following: Angelas bargaining power, Angelas real wage, and Brunos... Connor Ltd. is a large private company owned by the Connor family. It operates a manufacturing business in northern Ontario. It has applied to the ICB bank for a new loan of $100 million to expand... The following information came from a recent balance sheet of The Coca Cola, Co. End of Year Beginning of Year Assets $92.0 billon $90.1 billion Llabilities $61.5 billon ? Owners' Equity ? $33.4... KA Nitro Corporation purchased an 80% interest in Mars Company on January 1, 20X5, The following determination and distribution of excess schedule was prepared on the purchase date: Price paid for... Logan, a 50 percent shareholder in Military Gear Inc., is comparing the tax consequences of losses from C corporations with losses from S corporations. Assume Military Gear Inc has a $100,000 loss... Which of the following accounts has the highest EAR? A. one that pays 5.4% every six months B. one that pays 1% per month C. one that pays 2.4% every three months D. one that pays 9.6% per year Assume the beginning inventory as of January 1 Consisted of 500 units that were purchased for $8.25 each. During the month, three new purchases were made. The firs purchase consisted of 700 units... From your current data for the interval (all thirty points), you have a certain percentage uncertainty for the average that would be (o/x)-100%. If you wanted to reduce the percentage uncertainty by... Using the following Information, Answer the multiple Questions Use the following information to answer questions 1 and 2. Awesome Inc. Statement of financial position As at December 31 Awesome Inc.... Two copies of sales order document is prepared from the inventory database and the customer database, both of which are stored on a hard drive. One is sent to the shipping department and the other is... A taxpayer purchased land at a cost of $520,000 and constructed new legal offices costing $1,300,000. He paid this construction expenditure on 9 November 2019 and commenced using the building from... 1. Jesse wants me to investigate GanttProject software to determine whether it would be suitable for SCR. She asked me to prepare a summary of pros and cons, and a sample of screen shots and... The Desert Conservation Agency was authorized by the United States Congress to commence operations on October 1. 2014. Record the following transactions in general journal form. As they should appear... Brenda Jo Smith is an architect who operates her own business. The accounts and transactions for the business follow. Transactions o. Brenda Jo Smith invested $20,000 in cash to start the business.... Clear Sound Audio uses a periodic inventory system. One of the store's most popular products is an MP8 car stereo system. The inventory quantities, purchases, and sales of this product for the most... Although she has not examined this client's particular case, your manager confirms that it is likely that an internal reconciliation issue is impacting what the client sees. After speaking with the... Thornby Inc. has completed its fiscal year on December 31. The auditor, Kim Holmes, has approached the CFO, Brad Potter, regarding the year-end receivables and inventory levels of Thornby Inc. The... Company 1 can enhance 60% of transactions and charge 8 cents per transaction. Company 2 can enhance 40% of transactions and charges 5 cents per transaction. Every phone call that deals with... Respond to the following scenario with your thoughts, ideas, and comments. Be substantive and clear, and use research to reinforce your ideas. Apix is considering coffee packaging as an additional... Bear Island Ltd has a weekly payroll of $300 000. The employees receive entitlements to two weeks sick leave per year. The sick-leave entitlements are classified as non-vesting. Past experience, and... Forest Land Wood Products manufactures lumber and wood components. The company has two main product lines: Hardwood and Softwood. Hardwoods are used for flooring, cabinetry, paneling, doors and trim... Prepare comparative Balance Sheet (Horizontal Analysis and Vertical Analysis per item) for the years 2015-2016 and interpret the result and discuss your assessment on the company performance. ASSETS... I-Covers Company manufactures designer cases for cell phones. Each cover sells for $20.00. The cost currently assigned to each decal is $12.00. A competitor is introducing a new designer line of... Assignment 6.4 Exercises Problem 4: Rate of Return Calculations a) An investor deposits $150,000 into a retirement account. They feel they need $1,200,000 when they retire in 20 years. What return... Critically examine the following: (i) Interviews introduce more bias than does the use of questionnaire. (ii) Data collection through projective techniques is considered relatively more reliable.... At January 1, 2017, Youngstown Company reported the following property, plant, and equipment accounts: Accumulated depreciation ? buildings. . . . . . . . . . . . . . . . . . . . . . . . . . .... A parent company purchased a 90% controlling interest in its subsidiary several years ago. The aggregate fair value of the controlling and noncontrolling interest was $276,000 in excess of the... At the end of Year One, a company has an enacted tax rate of 30 percent. During Year One, the company reported a $110,000 gain for financial reporting purposes that would not be taxed until Year Two.... . Timber Company presented a statement of financial position containing the following accounts among others: Subscriptions receivable - preference Subscriptions receivable - ordinary Preference share... Madari Ltd purchased 100% of the shares of Concerto Ltd on 1 July 2020 for $70,000. On the date of acquisition, the equity of the two entities was as follows: Madari Ltd($) Concerto Ltd ($) General... Issued a $15,000 ACH payment to First American Bank and Trust for partial payment on the bank note, which included no payment for interest. The terms on the back of the bank note stipulate that... Burlington Clothes was incorporated on October 1, 2014. The articles of incorporation indicated the company was authorized to issue 600,000 shares of no par value common shares and 200,000, $2... At Macrohard, Inc. the cost of secret project X is $100,000. According to a confidential management report, the following can be expected in each of the five years of the machine?s life. Assume the... Suppose any tax payments are made on the due date, and the annual tax bill is $12,000. Compute who owes who (seller vs buyer) and how much, if closing is (a) on December 22, and (b) September 10. (c)... *how do I record the journal entry and calculate and record the gain and loss on the sale of the marketable securities? *Be sure to consider the effects of both the purchase and sale commission... On January 1, Luther Co. issued a $1,000,000, 5 year, 8% installment note payable with payments of $250,456 principal plus interest due on January 1 of each year for the next 5 years. Required: 1.... One model A1100 Kawasaki Jet Ski Personal Watercraft was sold for cash. This model retails for $9,375.00 plus 8% sales tax ($9,375.00 x 8% = $750.00). Invoice Number: G4011. Because a perpetual... During the coming accounting year, Baker Manufacturing, Inc., anticipates the following costs, expenses, and operating data: Direct material (16,000 lb.) $ 160,000 Direct labor (at $17.50/hr.)... The Burdell Wheel and Tire Company assembles tires to wheel rims for use on cars during manufacture of vehicles by the automotive industry. Burdell wants to locate a low-cost supplier for the tires... Our monogramming subcontractor gets $13 for each sweater. They also charge a 3% holding cost based on the $73.88 per sweater cost. Shipping cost is paid by the customer when the order is placed. Cost... On January 1, 2012 Paris Inc. purchased 80% of the outstanding common stock of Torres Co. for $144,000. On that date, the fair value of the remaining 20% interest was $35,000 and Torres had Common... In animal crossing new horizon, Marina bought $100 hydrangea on credit for her garden from Zucker. Upon planting them, Marina noticed that some hydrangea already died and returned $20 hydrangea back... On May 31, 2022, Windsor Landscapings common shares were trading for $15, and the company had the following shareholders equity accounts Common Shares (no par value, unlimited authorized, 1,010,000... Required: Based upon what you find, answer the following questions: A. What is the return on assets for Big Store (a) in 2012 and (b) in 2021? (Round your answers to 2 decimal places.) B. What is the... Webmasters.com has developed a powerful new server that would be used for corporations Internet activities. It would cost $10 million at Year 0 to buy the equipment necessary to manufacture the... Blazer Chemical produces and sells an ice-melting granular used on roadways and sidewalks in winter. lt annually produces and sells about 100 tons of its granular. In its nine-year history, the... F Ltd. deducted the following reserves on its income statement for the current year: $20,000 reserve for doubtful accounts, $30,000 reserve for warranty claims, and $150,000 reserve for amounts due... In Figure 2 below, the belt puley diameter at B is 65 mm and weighs 10 kg. The belt pulley diameter at D is 86 mm and weighs 12 kg 03m 04m 2 KN 0.3 m 65 mm 1 KN 3 KN B6 mm 3kN Figure 2 Transmission... 1.Karel set up a new company file. Now she sees relevant entries in the Customer Type List and Payment Method List that she doesnt remember creating. Where did they come from? 2.In the cash basis of... Denver Cabinets Company (DCC) produces and sells specialty wooden cabinets. Production is machine-intensive. DCCs variable costs are direct materials, variable machining costs and sales commissions.... A homeowner purchases a property for $1,000,000. She finances the purchase with an 80% LTV, 30-year fully amortizing graduated payment mortgage (GPM) carrying a 10% interest rate. A 20% rate of... Colonial Pharmaceuticals is a small firm specializing in new products. It is organized into two divisions, which are based on the products they produce. AC Division is smaller and the life of the...
Showing 1700 - 1800 of 4912