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Accounting Questions and Answers January 30, 2011

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LIFO is a big concern. Many US companies use this method and need to decide what method to change to. Which method would you suggest? Why? Please answer with one hundred words or more.

Which of the following entrepreneurial characteristics is often thought to be innate or considered one of the "not so learnable" entrepreneurial traits

Si, lors de la cration d'une socit de gestion, la technique de gel successoral est utilise, alors les actions ordinaires de la socit de gestion sont dtenues par les enfants, et les parents dtiennent des actions privilgies participantes, votantes ou non, et rachetables au gr du dtenteur. Est ce vrai ou faux?

Which of the following is a red flag of fraud? O High quick ratios O High turnover of key employees O High inventory turnover rate O High current ratios
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2 Three cases are presented below, and you are requested to classify the type of tax with reasons. (6 marks) Case 1: The tax rate is fixed at 12.5% Case 2: The tax rates are given as follows: Amount BWP Tax to be deducted 0 - 30 000 0 30 000 - 60 000 0 + 5% of excess over P30 000. 60,000 + 1 500 + 12.5% of excess over P60 000. Case 3 20 % on

Select all that apply Examples of current assets include which of the following? Multiple select question. equipment cash accounts receivable inventories land

A prior period adjustment requires an adjustment to Multiple choice question. the ending balance of other comprehensive income. net income in the current year and future years. the beginning balance of retained earnings. the income statement in the current year

Open the10-Kreport for iHeartMedia, Inc. for the year ended December 31, 2018. During this year, there is substantial doubt that iHeart Radio can continue as a going concern. Read through the report relating to the going concern opinion. In your own words, what do the auditors state is the going concern issue in the Report of Independent

When firms engage in foreign direct investment (FDI), they: A. become multi-national corporations (MNCs). B. reduce their tax rate since they can tell each country that they do business in that they paid their taxes in other countries. C. can exploit workers by paying them below-market wages in depreciating currencies. D. all of the above

The auditor has an existing credit card in bank A. Is the auditor allowed the audit bank A? Why or why not? How can reputational risks affect the bank and other financial institutions? The expert in financial complex transactions hired by the bank is a novice in the industry and has only very few recommendations. Will you rely on its report? Why

Portfolio Analysis Exercise: recommendation for Retail, Credit, Insurance, Brokerage, and Real Estate. With all the SBUs plotted what is your recommendation for the parent corporation to do with each of the SBUs, which should be kept, invested in, or divested

Beginning Retained Earnings (Pilsner) $ 192,000
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There had been a $10,000 April check made payable to Todd's Mountain Bikes. The reference line in the register noted, "one-quarter partnership interest." creat journal entry

Cash flow statements accomplish all of the following benefits for the salesperson except Group of answer choices adds a professional touch to the sales presentation demonstrates the value of executive time lost using commercial air travel assists the salesperson in dealing with financial concerns provides detailed cost information and net present

Enquiry involves the auditor: a. observing the actual control being performed. b. using questioning skills to determine how the control is completed. c. testing the physical evidence to verify that a control has been performed properly. d. re-performing the control to test its effectiveness

prior quiz is the week one. now I'm up to week 2 recordings .I put the week on transacation incase you might need it. please help me with this im struggling a lot. Week 1 1 Purchased 25 Quidditch Snitches with cash for $396 each, Cheque No. 902. 3 Purchased 11 boxes of radio-chipped Golf Balls from Hike for $253 each, terms net 30. 4 Purchased 12

For partners joining an existing partnership, Blank______. Multiple choice question. the RUPA primarily states the rules for the partner's admission and not a partnership agreement. the terms include the new partner's capital contribution but not compensation. the terms and conditions of a new partner will be mentioned in the admission agreement.

. Unmodified opinion is the opinion 2 points expressed by the auditor when the auditor concludes that the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. O True O False
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Furniture Inn manufactures computer tables. Recently a supplier has offered the tables of the same quality @ $14 each with an assurance of continued supply. The following is the budget for 4000 units prepared for the quarter ending 30 September 2019.

Question 11B: Decompose the calculated 2021 and 2022 ROE from Question 11 to ROA and Equity multiplier, and comment on your result. (Total asset at the end of 2019 is $99,215,000) 30 words max, 3 marks
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Enquiry involves the auditor: a. observing the actual control being performed. b. using questioning skills to determine how the control is completed. c. testing the physical evidence to verify that a control has been performed properly. d. re-performing the control to test its effectiveness

Analyse numerical information about an asset and explain the meaning of it to another learner
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In Imperial Rome a form of Arsenic was used as a poison.Congratulations, you have been promoted to the position as "Official Food-Taster" to the Emperor,the second such appointment this week!!Why do you think that Arsenic has been a favorite with poisoners over the centuries? A worker was cleaning out asbestos from a ceiling in the school.He was

How would you suggest to improve the use of performance information in Outcome-Based Budgeting (OBB) and thus improving the service deliveries in the government?

5. (a) Should Bio-Tech sell CPG at the price offered by General Drug
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How do businesses make money? What strategies can they use to gain a competitive advantage?

Saola's VP of Marketing was concerned about the change in the recognized Allowance for Bad Debt, especially since her department has not changed any of their policies or procedures. How could you explain to her the need to use the new rules and the likely reaction of Saola's stakeholders to the change?

As an accounting intern at the bank: Category: A Theory-Practice goal What is your goal #1? What will you do to achieve this goal? List a few specific actions. Who/what will help you achieve this goal? List specific resources. How will you evaluate your success towards this goal? Be specific.

Doer Company produces a single product that sells for $ 120 per unit. Fixed expenses total $12,000 per month, and variable expenses are $ 80 per unit. The company's sales average 500 units per month. Which of the following statements is correct? Multiple Choice The company's break-even point is $12,000 per month. The fixed expenses remain constant

Discount Received is an example of Other Operating Revenue. Select one: True False

Im on WGU's QUM2 task 1. Im having trouble with recommending a course of action that aligns with the linear regression analysis results. Does anyone have any suggestion and how that suggestion aligns with the linear regression analysis? The topic is how a hospital is trying to decrease the nurse attrition rate by increasing nurse participation in

1) Demonstrate how to identify and account for investments classified for reporting purposes as held-to-maturity, trading and available-for-sale. Why do you think we have different types of securities? 2) Explain what constitutes significant influence by the investor over the operating and financial policies of the investee? How can this help or

The company controller has asked you to prepare a memo that compares and contrasts the relationship test requirements for a qualifying child with the relationship requirements for a qualifying relative. Present your answer in a standard business memo format, using appropriate terminology, correct grammar, spelling, and punctuation. Prepare a memo

Carl Corporation, an S corporation, distributes a machine to curtis, a major shareholder in carl corporation. the machine had an adjusted basis of $70,000 and a fair market value of 160,000. carl corporation recognizes a gainnfor the distribution of the machine of: A. 70,000 B. 0 C. 90,000 D. 160,000

hi, could you please help me to write the reflection on the article "the time has come, The KPMG Survey of Sustainability Reporting 2020" in word count from 250 words to words for my assessment unit auditing and assurance, please?

Critique common conflicts of interest that arise in management accounting or other accounting engagements. How can these conflicts be overcome?

effects of court rulling in support on separate legal identity on companys in simila matters

A.Audit working papers are the property of the auditors, who may distort the papers, sell them, or give them to third part. Is this statement true or false? Justify with your explanation. B.Many CPA firms are taking a business risk approach to audits. Define what is meant by business risk. Provide an example of a business risk that could result in

Required for conclusion for article review. (max 1o0 w0rds) Reference article review ; https://drive.google.com/file/d/1xBSFJgqpR3wLkIqs5FoLIrkXDOMJIHvu/view?usp=sharing

(vii) The short-term investments are to be regarded as cash equivalents. (viii) The ordinary shares were sold for cash. Required: Prepare a statement of cash flows for Cash King Ltd for the year to 30 June 2016 in accordance with the requirements of HKAS 7 Statement of cash flows using the indirect method

What factors might agfectt tge level of assurance you could take from an assurance statement received from a third party

Accounting List a few things data concerns to take into consideration when modeling cost behavior

looking for journal of THE EFFECT OF TAX RATE PERCEPTION, TAX UNDERSTANDING, AND TAX SANCTIONS ON TAX COMPLIANCE

thanks in advance 2. Explain the effects of this crisis on exchange rate of the involved countries in the crisis. Show yam reasons using the supply and demand curves of exchange rate. Providing e link between your reasons and the International business finance theories and their reievant concepts. [3'00 words) (Smarts)
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The credit arrangement for the purchase of the boat by Jones must disclose only the amount borrowed, the terms of loan, the monthly payments, and the true interest rate. Group of answer choices True False

Step 2: Installation an configuration of DHCP services The DHCP service must be configured on the JAP server; it will supply the IP addresses to FRA. JAP must be configured with a static IP address and FRA must always receive the same IP address upon startup
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7 points 5? Opus Corp has decided to issue equity in order to raise capital to expand operations. The company has received approval from the board of directors to issue 95,000 shares of the company's common stock on May 1, 2020. On the date of issue, the common stock has a. par value of $0.40 and a market value of $4.00. What amount will Opus Corp
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Michelle Chen works for Fashion Productions in Northwest Territories and is provided with a company-owned automobile. The automobile was in Michelle's possession for 365 days. Of the 52,184 kilometres driven, 27,660 kilometres were for business purposes. The purchase price of the vehicle was $30,920.00, excluding the GST calculated at 5%. Michelle

INDUSTRY IQUIDITY RATIOS FORMULA COMPUTATION AVE. 1.1 Current Ratio 1.80 1.2 Acid-Test Ratio 0.94 1.3 Average Collection Period 25 1.4 Accounts Receivable Turnover 14.60 1.5 Inventory Turnover 7
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Enquiry involves the auditor: a. observing the actual control being performed. b. using questioning skills to determine how the control is completed. c. testing the physical evidence to verify that a control has been performed properly. d. re-performing the control to test its effectiveness

SHOULD FAMILIES BE A FOCUS OF ATTENTION FOR GOVEREMNT POLICY CRITICALLY DISCUSS THE ROLE GOVERMENTS PLAY IN PROVIDINGSUPPORT FOR FAMILIES

To determine cash paid for merchandise, which two adjustments are required? Multiple choice question. change in inventory and change in accounts payable change in inventory and change in interest receivable change in inventory and change in accounts receivable change in accounts receivable and change in accounts payable

Define the cash, expenditure and revenue items in relation to budgeting. Provide at least one (1) example for each. (Minimum 50 words)

In your initial post, consider the steps in the accounting cycle. In what order do you think the financial statements should be produced? Specifically, does the position of the closing entries make sense to you as described in the textbook, or does it make more sense to produce the statements in the order described in Milestone One, in which the

When the subsidiary also has preferred shares outstanding, in addition to common shares, if the preferred shares were noncumulative, net income would be allocated to the preferred shares only if preferred dividends were declared during the year. Group startsTrue or FalseTrue, unselectedFalse, selected

Divisi Penjualan PI. ABC akan di audit untuk melinat efektifitas dan enslensl pencapaian target penjualan. Jenis audit yang akan dilakukan adalah: a. Audit Manajemen b. Audit Kepatuhan c. Audit Laoran Keuangan d. Audit Target Penjualan
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For each of the following annuities, calculate the annuity payment. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Annuity Payment Future Value Years Interest Rate $ 24,850 8 5% $ 1,030,000 43 $ 856,000 29 8 139,000 14 4
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18. What is the primary purpose of the Administrative Simplification provision of the HIPAA document? 19. List the four sets of HIPAA Standards and give a brief description of each standard. 2. 3 . 4. 4 Chapter 1 Orientation to the Dental Profession
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Assuming you have PHP50,000 in excess funds. In which investment vehicle will you put your hard-earned money: (a) in the equities market to purchase an equity instruments i.e., invest in a newly-launched initial public offering (IPO) of an established Philippine company and/ or purchase existing listed shares from the Philippine stock market

c. (4 points) Based on the facts above, briefly explain whether the profit-maximizing price in Los Angeles would be the same or different than the price in Honolulu (no additional calculations are necessary)
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2-stage DDM model: g = 0.2459 for 3 years; g =Rf = 2% afterward Intrinsic value = D,/(1+R) + D,(1+R)2 + (D,+P;)/(1+R)3 = 0.2071*1.2459/1.0528 + 0.2071*1.24592/(1.0528)2+ (0.2071*1.24593 + 0.2071*1.245 93*1.02/(0.0528-0.02)) /(1.0528)3 = 11.55 VS Stock Price => under-/ over- priced
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Explaln the following below using the provided details - Projected Statement of Financial Position 1 - Projected Statement of Financial Position 2 - PROJECTED STATEMENT OFCOMPREHENSIVE INCOME - PROJECTED STATEMENT OF CASHFLOW - PROJECTED STATEMENT OF CHANGES IN OWNER'S EQUITY Projected Statement of Financial Position 1 Year 1 Year 2 Year 3 ASSETS

4 Identifying and Analyzing Financial Statement Effects of Cash Dividends Freid Corp. has outstanding 8,000 shares of $50 par value, 6% preferred stock, and 44,000 shares of $1 par value common stock. The company has $328,000 of retained earnings. At year-end, the company declares and pays the regular $3 per share cash dividend on preferred stock

What are the benefits can be obtain if the inventory/goods reserved by employee of a grocery store for purchase is paid on time or in allowable number of days limit?

Contesta las siguientes preguntas sobre la pelicula "Visitadora de carceles" sobre Concepcion Arenal. Cul era la forma de pago para las reclusas por su trabajo en la crcel? Qu tipo de deberes hacan las reclusas? Qu tipo de abusos sufran las presas en la crcel? Quin se beneficiaba del sufrimiento de las presas

Please show you work when solving the guestions below. Question 1 The following information was taken from the records of a manufacturing company: Actual overhead $3,000,000 Estimated overhead $3,097,500 Actual units produced 1,000,000 units Overhead rate $2.95 What is the amount of applied overhead
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As a marketing manager for an airline, would you sell a seat to a passenger who walked up to the gate at the last minute at the variable (marginal) cost? Why or why not? Do the costs from the accounting system include all relevant costs for the decision? In a paragraph or two about your differential analysis

Outline your expectations of taking an accounting class. Example: I hope to learn how companies record financial information, I hope to understand how to read financial statements, I hope to learn how to balance my checkbook. Also discuss reasons why you have set these as the expectations for this course

Part B: Financial Model Create a 3- to 4-page financial plan for the operation of the information security department as defined in Part A. Include the following: Description of each cost category along with the total annual operating costs Estimated annual operating costs for supporting the information security department based on the information

Steve's Sausages begins business in March.In planning his business, Steve sets the following materials standard:Each sausage should take 250 grams of pork, and pork should cost 10 per kilogram, therefore each sausage should contain 2.50 of direct material. In March, Steve purchases 80 kilograms of pork for 750.Steve makes and sells 300 sausages

Information pertaining to the liquidity of an entity may be used to predict the availability of cash, after the settling of debts for the same period. Select one: True False

Cost planning is budgeting. Do you budget? Are budgets as helpful as theoretically proposed? Use your experience to support your response. Consider budgets from a business perspective. Whichbudget(s),based on reading, do you believe is/are most important to the organization's success? How does the government's budget process compare to the

Select all that apply When a business provides a service to a customer "on credit", it means that: Multiple select question. an asset has been created or increased. Accounts Receivable will be increased. the business will be receiving payment for its services immediately. the business will receive payment for its services at a later time

Imagine you are working as an insurance broker, and a company comes to you wanting to insure one of its production factories. Identify at least two distinct risks you would analyze as you decide what kind of coverage and premiums this client can expect to pay in order to be fairly and sufficiently insured

On May 1, 2010, Goodman Company began construction of a building. Expenditures of P120,000 were incurred monthly for 5 months beginning on May 1. The building was completed and ready for occupancy on September 1, 2010. For the purpose of determining the amount of interest cost to be capitalized, the average accumulated expenditures on the building

Please talk about brand equity of AirAsia. Include 1 and half pages.

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An auditor's assessment of their client's integrity would not include the client's attitude to risk exposure and management. Group of answer choices True False

The SNF QRP program aligns quality measures across the post-acute-care setting. Which of the following is a potential result of failure to report quality measures in the MDS? Deficiency at G level during the annual survey Civil Monetary Penalty 2% reduction in the annual payment update (APU) No penalty or reduction in payment at this time

Check here LOADING... Let I represent the income (in millions of dollars) for a company. A company posted a net income loss of $12,175 million for the fiscal year 2016.

Maddy has net employment income of $45,000. During the year, he received spousal support payment of $10,000, Child support payment for his 10 year old son of $12,000 an a $50,000 term deposit that paid interest of $2000 in the year. Determine his Earned Income for RRSP purposes. (Please show the calculation).

Which type of foreign direct investment occurs when a firm is trying to open up a new market that is similar to its domestic markets? Select a Choice Below current question choices OptionA Brownfield foreign direct investment OptionB Horizontal foreign direct investment OptionC Vertical foreign direct investment OptionD Platform foreign direct

Reference Case High economic growth Low economic growth High oil price Low oil price High oil and gas supply Low oil and gas supply High renewable cost Low renewable cost
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The standard price per unit for direct materials Blank______. Multiple choice question. does not consider purchase discounts is adjusted for an allowance for waste and spoilage can change based on a change in the delivery method

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C Budget surplusishortage at the and of Dacambar $3 150 Frovide a 180-800 word statement as to whether Joe will have enough money at the end of December to cover the spring semester's tuition. Include figures and shortage overage amounts
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Suppose we put $2000 into an account earning 10% interest compounded continuously., How long will it take (in years) for us to have a balance of $6000 in the account? Round your answer to the nearest year and select the correct option listed in the screenshot below. \f
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In ABC Corporation, the Cash Short and Over account is used to reconcile discrepancies in cash transactions. What classification does this account take, serving as either a Misc. Expense or Misc. Revenue, depending on its balance? Question 4 options: Asset Account Equity Account Liability Account Revenue or Expense Account

Explore the features of web-based and stand-alone feed readers by completing an internet search. While conducting your searchplease make notes regarding the questions listed below. a. What is a web-based feed reader? Give an example of at least one current application. b. What is a stand-alonefeed reader? Give an example of at least one current

How is FOB Destination different from FOB Shipping Point? (4 points in short with example). Types of audit reports issued by the auditor.

describe what a possible process of decision-making that takes into account emotional impact could look like. Decisions in this case include, for example, setting particular performance targets or selecting what programs can be delayed

What is the purpose of the confidentiality rules in the AICPA Code? Describe the specific provisions and when confidentiality requirements might be waived.

Within governmental accounting, there are several different types of funds both major classifications (governmental, proprietary, or fiduciary) as well as subclassifications under each of these. how would you distinguish the differences of the various subclassifications under one of the major classifications?

Please help me Chad incurred a net operating loss in 2021 of $13,450 which he is carrying forward to 2022. In addition, Chad has provided a list of medical expenses he's incurred for 2022, a mortgage interest statement from Go Prime Mortgage, Inc., detailing the amount of interest paid in 2022, and a 2022 property tax bill from the Gallatin County
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The manager responsible for the accounting information concerning cash flows is the: payables manager. B production manager. credit manager. D purchasing manager. E controller

BlossomCorp. owns 75% ofAyayaiInc. Both companies are in the mining industry. During 2020,BlossomCorp. purchased a building fromAyayaiInc. for $2,130. The building's original cost is $25,000and its carrying amount inAyayaiInc.'s financial statements is $1,600.Blossom's Contributed Surplus account contains a credit balance of $350from previous

1) Eulis Co. has identified an investment project with the following cash flows. Year Cash Flow 1 $ 970 2 760 3 1,430 4 1,790 a) If the discount rate is 9 percent, what is the present value of these cash flows? What is the present value at 1? percent? What is the present value at 23 percent
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On 7/15/XX, the patient pays the collection agency $200. The agency sends check No. 9876543 to the office. Post the agency check on the patient's ledger, reverse the adjustment by $200, and indicate account closed
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