Accounting Questions and Answers December 12, 2021

A company has the following information related to Cash Description From Bank Statement From Cash Ledger Cash Balance, Beginning of Period 8713 9893 Cash Balance, End of Period 13115 Deposits 5739 6869 ETF Collections from Customers 1513 Service Fee 131 What is the ending cash balance the company should report on its Balance Sheet (Note Enter

Compute the cost to be assigned to ending inventary for each of the methods indicated given the fallowing information about purchases and sales during the year. (Do not round intermediate calculations. Round final answers to 0 decimal places, eg. 2,520.) January Beginning Inventory 105 items 4 420 May 1 Purchases 400 items 9 3,600 Total

You invested 8,500 in a mutual fund when the offering price was 3130 and the NAV was 3020 This purchase was made one year ago today. Today, the fund distributed a total of 1.59 in longterm gains and 585 in shortterm gains The current offering price is 33 42 and the NAV is 3218 What is your return for the year 9.46 4.35 737 8.23 10 61

Assume Tesla buys 100 robots that cost $100,000 each. They believe the robots will have useful lives of 10 years and that they will be able to be sold for parts at that time for $10,000each. Assuming Tesla uses diminishing depreciation calculations with an acceleration factor of 2, What depreciation will Tesla report on the 100 robots in the first

Ben Jerrys provided the following accounting information for 2021 Jan. 1, 2021 Dec 31, 2021 Finished goods inventory. . . 160 000 155 000 COGM 827 000 Sales revenues 1 210 000 Selling adm. expenses 105 000 Tax rate 35 3D Required 1. Prepare a schedule to calculate the cost of goods sold. (20 points) 2. Prepare the income statement of

Which of the following statements is true? a. Sales Prices influenced primarily by local competitive conditions and not responsive on a short-term basis to exchange rate changes is a conditions would result in the foreign currency being the functional currency. b. Financing denominated in the currency of the foreign unit or generated internally by

In 2021, Martha paid $2,240 of tuition and $940 for books for her dependent son to attend State University this past fall as a first-year student. Martha files a joint return with her husband. What is the maximum American opportunity tax credit that Martha can claim for the tuition payment and books if the couple's AGI is $100,250 ?

Basil Partnership has the following information and transactions during 2021. 1) Class 1 (4%) building, opening UCC balance $660,000. This building was originally acquired in 2014 at a cost of $870,000. It was sold during the year for $585,000. There is no other property in this class. 2) Class 8 (20%) furniture, opening UCC balance $30,000. New

In the following games, all payoffs are listed with the row players payoffs first and the column players payoffs second. GAME 3 Player B B1 B2 B3 A1 10, 12 8, 8 12, 10 Player A A2 9, 3 7, 6 11, 2 8, 10 9, 4 14, 5 In Game 3 above, Both players have a dominated strategy. Neither player has a dominated strategy. Player A has a dominant strategy.

Which of the following statements is false? a. Even small companies use computerized accounting systems. b. Most computerized accounting systems use principles from manual systems. c. Subsidiary ledgers and special journals are only useful when a business doesnt have a large number of similar transactions. d. Large companies often integrate their

Carnival World complete with Circus Time by providing a variety of carnival rides for children and adults. Carnival World sells tickets for 70 per person for a oneday pass. Variable costs are 42 per person and fixed costs are 170,800 per month. 1. Compute the contribution margin per unit and the number of tickets that Carnival World must sell to

Hi I would like to ask about income for this situation? Is the fine amount 10,000 and club member 5,000 does not include in the expense? Is the loss from selling the equipment included in the expense? Revenues Motorcycle and Parts Sales $450,000 Expenses Purchase of inventory, parts, and supplies (Note 1) $135,000 Golf club dues (Note 2) 5,000

Traeger Inc. is the defendant in a lawsuit filed in January 2020 due to a workplace accident that occurred during the same month. Traeger determined that a loss of $3 million was probable and on February 24, 2020, a settlement of $3.2 million was reached. Financial statements for the year ended December 31, 2019, are issued on March 14, 2020. How

At the beginning of 2020, Ye Old Donut Co. acquired a machine with a fair value of $7,091,901 by issuing a four-year, noninterest-bearing note in the face amount of $8 million. The note is payable in four annual installments of $2 million at the end of each year. What is the effective rate of interest implicit in the agreement? Group of answer

On January 1, 2021, Adas Artwork Inc. recorded a right-of-use asset of $41,700 in connection with an operating lease ($41,700 represents the right-of-use asset before any payments are made). The lease calls for 5 annual payments of $10,000 at the beginning of each year. The interest rate charged by the lessor was 10% and is known by the lessee.

Jim's Computer Products manufactures keyboards for computers. In June, the two production departments had budgeted allocation bases of 10,000 machine hours in Department 1 and 5,000 direct manufacturing labour hours in Department 2. The budgeted manufacturing overheads for the month were $34,500 and $37,500, respectively. For Job 501, the actual

Under the provisions of the Companies Act, 2017, list down the circumstances under which a company shall be deemed to be unable to pay its debts. Also discuss the conditions which a prospective creditor would have to meet if it intends to file an application to the Court for winding up of the company

At the beginning of the month, supplies were $3,000. During the month, $4,000 of supplies were purchased. At month's end, $2,500 of supplies are still on hand. What is the adjusting entry? ending balance in the Supplies account?

Elaine is interested in determining if men are more satisfied in their jobs than women in the healthcare industry. She administers a job satisfaction questionnaire to 20 men and 20 women working in hospital administration. Her grouping variable is gender and dependent variable is job satisfaction. The job satisfaction scale consists of 8 items

A city is finalizing its financial statement and has one last fund to consider. An internal service fund for technology services. Where should that fund be presented on the government wide financial statements A. as a stand alone item under the business type activities of the statements B. as part of the fiduciary funds financial statements C. in

Pedro Rodrguez Cruz and Mnica Santiago Del Valle, are married under the community property regime and file their income tax return as married filing jointly. Pedro's date of birth is January 1, 1950 and Monica's is February 1, 1955. The couple's address is Urb. Bella Vista, Calle Monte #1, San Juan, PR 00910. Both are citizens of the United

A, B and C have been operating a partnership for several years. According to the terms of the partnership deed profits and losses are to be shared between A, B and C in the ratio of 4:4:2. B is to be allowed a salary of $54,000 per annum. The interest of 10% per annum is allowed on the capital account balances outstanding as at the beginning of

For most of us, the only time foreign currency issues impact us is when we are traveling. Typically, you go to a bank, AAA, an ATM or some place in the foreign country to exchange US dollars for the currency of the destination. If their currency has a lower value, you effectively get a discount on your purchases while there. What happens though if

Ivanhoe Quest Games Co. adjusts its accounts annually. The following information is available for the year ended December 31, 2022. 1. Purchased a 1-year insurance policy on June 1 for $1,500 cash. 2. Paid $6,800 on August 31 for 5 months rent in advance. 3. On September 4, received $3,150 cash in advance from a company to sponsor a game each

Using a compound interest calculation, complete the table by computing the compouded interest amount for each year and in total. Assume the loan was borrowed on the first day of the year, and that you are calculating the interest for a full year. Round all yearly amounts to the nearest whole dollar. Facte Aunt d Al ae Lan pered Compound interest

Which one of the following is not an objective of internal control? To enhance the reliability of financial statements To guarantee the accuracy of the accounting records To ensure compliance with laws and regulations To safeguard assets

In QuickBooks Online, if the Deposit to: Undeposited Funds account is selected on the Invoice, then funds are recorded directly in the Multiple Choice A. Petty Funds account. B. Company owners checking account. C. Checking Account. D. Undeposited Funds account.

Victor Mineli, the new controller of Carla Vista Co., has reviewed the expected useful lives and salvage values of selected depreciable asset categories at the beginning of 2021. Here are his findings Category Date Historical Accum. Useful Life (Years) Salvage Value of Asset Acquired Cost Deprec. Original Proposed Original Proposed Building 112003

Lake Company, organized in 2020, has the following transactions related to intangible assets in that year. Lake Company uses the calendar year for financial reporting. 112020 Purchased patent (9year life) 540,000 412020 Purchased trademarks (indefinite life) 240,000 712020 Purchased copyright on artwork expiration date 712035 345,000 12312020

The custodian of a company asset should have access to the accounting records for that asset. be someone outside the company. not have access to the accounting records for that asset. be an accountant.

11) Terry Lampron wishes to make eight annual withdrawals of 3,000 each beginning (1pts) on May 1, 2011. Assuming a 4 percent interest rate, on May 1, 2010, Lampron must deposit an amount of money equal to (find present value) O 20,198.23 O 27,642.60 O 26,192.10 O 9,936.30

Which of the following statements best describes a drawback A drawback is a term coined by the World Customs Organization that permits member countries to temporarily withdraw from their trade pact. O It is a method used by the CFIA to determine the overall quality of drawn liquids included in agricultural shhments. It refers to goods that in

Which of the following best describes the Administrative Monetary Penalty System It is a civil penalty regime designed to encourage compliance with customs legislation through the application of monetary penalties. O It is a penalty scheme in the Criminal Code that imposes fines. It is a system of computerized checks and balances that applies to

Which of the following is not an internal control activity for cash? Employees who have access to cash should be bonded. Banking facilities should be used as much as possible. The amount of cash on hand should be kept to a minimum. All payments should be made with currency, not checks.

Ahmet bought a new house for 4000000 TL and financed 85 percent of the purchase with a mortgage loan at monthly interest of 1,65 percent. Ahmet will repay the loan wit monthly equal payments starting next month. What are his monthly installments?n

Joel Hamiton owns 2,050 shares of indian Wolf Corporation common stock Joel purchased the 2.050 shares on Apri 17, 2011, for 41,000. On Decemtber 8, 2018, Joel sels 1400 shares for 17.500 On January 2, 2019, Joet buys 700 sharee of Indian Wolf Corporation common stock for S0,100 and 150 shares of indian Wolf Corporation preferred stock for 4,000.

Control over cash disbursements is generally more effective when payments are made by check. all purchases are made on credit. disbursements are made by the accounts payable subsidiary clerk. all bills are paid in cash.

Prime Parts, Inc. (PPI) is a leading wholesaler of aftermarket auto parts and supplies for the automotive repair and reseller industry. PPI provides national reach, rapid delivery, and customized account service. PPI is expanding its operations and introducing a new information system to handle the large volume of sales as a result of its growing

On June 30, 2021, Streeter Company reported the following account balances: Receivables $ 50,700 Current liabilities $ (15,800 ) Inventory 87,750 Long-term liabilities (51,250 ) Buildings (net) 84,100 Common stock (90,000 ) Equipment (net) 34,500 Retained earnings (100,000 ) Total assets $ 257,050 Total liabilities and equities $ (257,050 ) On

Armidale Company Ltd (ACL) manufactures Special-purpose machines. ACL applies Activity-Based Costing (ABC) to work out the cost of its products. The following are the primary manufacturing operations with their respective budgeted overhead costs for the month of December 2021: Activity Budgeted Cost (total) Cost Overhead cost allocation base

The CEO has provided you with the following summary projected statement of financial position Summary forecast statement of financial position as at 31 December 2022 ASSETS Noncurrent assets Property, plant and equipment Current assets Trade receivables Cash and cash equivalents Total assets EQUITY AND LIABILITIES Share capital and share premium

An NSF check should appear in which section of the bank reconciliation? Addition to the balance per bank. Deduction from the balance per books. Addition to the balance per books. Deduction from the balance per bank

(1p 12) Southland, Inc. has just borrowed 50,000 to purchase a delivery truck. The contract calls for four annual payments of 15,773.54, beginning one year from today. The annual interest rate Southland is paying equals O 8 O 12 O 10 O no correct answer given

Information related to Martinez Co. is presented below. 1. On April 5, purchased merchandise on account from MarinCompany for $33,500, terms 2/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $910 on merchandise purchased from Marin. 3. On April 7, purchased equipment on account of $44,400. 4. On April 8, returned damaged

Notification by the bank that a deposited customer check was returned NSF requires that the company make the following adjusting entry: No adjusting entry is necessary Miscellaneous Expense Accounts Receivable Cash Accounts Receivable Accounts Receivable Cash

Blossom Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per books, 8/31 $ 33000 Deposits in transit 1400 Notes receivable and interest collected by bank 8000 Bank charge for check printing 190 Outstanding checks 18900 NSF check 1600 The adjusted cash balance per books on August 31 is

Overview of Target Organization: What is the nature of the business or service provided by the organization? What are its history and mission? Are SDGs being integrated/addressed by this firm/organization? Are the SDGs prioritized based on local needs? Are SDGs being reported in their CSR/Sustainability communications? More specifically: does the

Jesse has a massive spreadsheet that they use for keeping track of staff schedules, sales by store, and commissions. Store managers email Jesse their information each Monday. This spreadsheet and its related information is only on Jesse's computer and it is never in the organization's integrated system, but they will run reports for anyone who

Which of the following is a basic principle of cash management? Defer the timing of major expenditures Increase the speed of receivables collection Maintain a high cash balance for unanticipated emergencies Keep inventory levels high

Which one of the following is not a key principle of cash management? Invest idle cash Plan the timing of major expenditures Maintain as much cash as possible in order to pay obligations when due Keep inventory levels low

Use the financial statements of Heifer Sports Inc. to find the information below for Heifer

Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, YearEnd Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders Equity Accounts payable Shortterm debt Total current

Which one of the following is not reported as part of cash and cash equivalents on the balance sheet? Money orders Commercial paper Treasury bills Restricted cash

Which of the following is not a basic principle of cash management? Delay payment of liabilities. Increase the collection of receivables. Invest idle cash. Keep inventory levels high.

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Q3 Prepare a Triple Column Cash Book from the following transactions and bring down the balance for the start of next month 2017 Nov. Cash in hand 3,000 Cash at bank 12,000 2 Paid into bank 1,000 Bought furniture and issued cheque 1,500 Purchased goods for cash 50 12 Received cash from Mohan 980 Discount allowed to him 20 14 Cash sales 5,000 16

Which one of the following sections would not appear on a cash budget? Investing. Cash receipts. Cash disbursements. Financing.

Lindas Luxury Travel (LLT) is considering the purchase of two Hummer limousines. Various information about the proposed investment follows Initial investment (2 1imos) Uneful 1ite 01,500,000 Salvage value Annual net income generated LLT Cost of capital 10 years 140,000 6 142,500 144 Assume straight line depreciation method is used, Required Help

Match each situation with the fraud triangle factor (opportunity, financial pressure, or rationalization) that best describes it. (a) An employees monthly credit card payments are nearly 75% of their monthly earnings. Select the fraud triangle factor Rationalization Opportunity Financial Pressure (b) An employee earns minimum wage at a firm that

The internal control procedures in Dayton Company result in the following provisions. Identify the principles of internal control that are being followed in each case. (a) Employees who have physical custody of assets do not have access to the accounting records. Select the principle of internal control Physical controls Independent internal

Jolson Company has the following internal control procedures over cash receipts. Identify the internal control principle that is applicable to each procedure. (a) All over-the-counter receipts are entered in cash registers. Select the principle of internal control Establishment of responsibility Segregation of duties Independent internal

A Field Check ____. Group of answer choices Makes sure that everything thats required to be filled out is Is looking for the size of the field Makes sure that what youve entered is reasonable Is only checking for numbers or letters

Tott Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable to each procedure. (a) Company checks are prenumbered. Select the principle of internal control Documentation procedures Segregation of duties Physical controls Human resource controls Establishment of

Identify which control activity is violated in each of the following situations. 1. Once a month, the sales department sends unnumbered sales invoices to the accounting department to be recorded. select a control activity Segregation of duties Physical controls Human resource controls Establishment of responsibility Independent internal

If an employee is not supervised or does not report to anyone else, or if employees report to one another the activities of unsupervised employees cannot be monitored their actions may result in fraud as there is no one to check the actions of unsupervised employees. there may be collusion between employees who report to each other which may

7. A project has the following cash flows Year cash flows (75,000) 20,000 30,000 50,000 1 2 3 a. What is the payback period b. If the cost of capital is 10, what is the NPV Payback period Year Inflow Cumulative inflows Payback period Net present value Year Inflows Discount factor Present value 10

Fraud due to asset misappropriation can be reduced by conducting background checks on employees. assigning responsibility and segregating duties. use of physical controls and internal verification procedures. doing all of these.

Which of the following types of frauds has the potential of being the most costly to a company? Financial statement fraud. Misappropriation of assets and resources. Taking bribes. All of these.

Consider two lotteries. Lottery A is such that an individual receives a prize of 1.25 units of a consumption good with 50 probability and 0.75 units of the consumption good with 50 probability. Lottery B presents the winner with a prize of 1.5 units of a consumption good with 50 probability and a prize of 0.5 units of the consumption good with 50

Which of the following is not an element of the fraud triangle? Financial pressure Opportunity Segregation of duties Rationalization

Eleanor issued P10,000,000 of 10% bonds on July 1, 2008. The prevailing market rate of interest for these bonds was 12% on the date of issue. The bonds will mature on July 1, 2018. Interest is paid semiannually on July 1 and January 1. Eleanor uses the effective interest rate method bond premium or discount. The following present value factors are

ABC Corporation borrowed SAR 150,000 at 10 interest from NCB Bank on Jan. 1, 2020, for specific purposes of constructing specialpurpose equipment to be used in its operations. Construction on the equipment began on Jan. 1, 2020, and other general debt existing on Jan. 1, 2020 was SAR 200,000, 12, 10year bonds payable SAR 100,000, 11, 5year note

Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payment constitutes realized income and determine the amount of each payment Grady must include in his gross income. (Leave no answer blank. Enter zero if applicable.) Problem 565 Partc (Algo) c. A gift of 51,000 of Ford Motor

Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger M. Muncel, Capital Account Number 301 Salaries Expense Account Number 622 Dated PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 76,000 May 31 G2 38,000 M. Muncel, Withdrawals Account Number

4. Present value of Annuity Henry is going to receive 150 every year for 12 years. The annual interest is 6. Calculate the present value of Henrys annuity. PV 5. Perpetuities annuities last forever Victoria is expecting to receive 2,000 a year forever. Interest rates are expected to remain constant at 5. Calculate the present value of Victorias

The level of the data hierarchy with the most "items" is Group of answer choices None of these statements are true Information, because financial statements and journal entries are everywhere throughout an integrated system Information, because each transaction represents one small piece of information Data, because each transaction is a piece of

Scrimshander, Inc. is a shipping company, transporting goods using cargo ships. On January 1, 2017, the company purchases and puts into service a cargo ship costing 10,000,000. The expected useful life of the ship is 25 years, and the salvage value is 800,000. Enter your answers below in whole dollar amounts without a sign. a. Calculate the

Fred currently earns 9,100 per month. Fred has been offered the chance to transfer for three to five years to an overseas affilliate. His employer is willing to pay Fred 10,100 per month if he accepts the assignment. Assume that the maximum foreignearned income exclusion for next year is 108,700. Problem 562 Parta1 (Algo) a1. How much U.S. gross

Why is issuing a shortterm note receivable an investing activity if its short term and not long term Dont investing activities only involve Longterm assets Investing activities Sale of building Investment in bonds of another Issuing a short term note receivable for 10,000 company Financing activities Repaying long term notes payable Operating

In January, 2022, Harmony Inc. has the following expenditures related to manufacturing a new generation of its product. Match each expenditure to the appropriate accounting treatment on the right. v Takes possession of a manufacturing machine. The vendor sends an invoice for 650,000. A. Capitalize to the Machine account. B. No accounting entry is

Cullumber Company owns delivery equipment that cost 53,800 and has accumulated depreciation of 27,300 as of July 30, 2020. On that date, Cullumber disposes of this equipment. For parts b d below, enter D for debit or C for credit in the first box and the amount in the second box. a. What is the net book value of the equipment on July 30, 2020 b.

The Lark Company purchases a warehouse on December 28, 2020 for 150,000 (which includes all capitalizable costs). They put the warehouse into service on January 1, 2021, assigning it a useful life of 28 years and a salvage value of 10,000. Enter your answers below in whole dollars without a sign (e.g., xxx). a. Calculate the depreciable cost of

The Statement of Cash Flows (check all correct answers) a. provides information about a companys cash receipts and cash payments during an accounting period b. is not related to the income statement of balance sheet c. has sections related to operating activities, financing activities, and investing activities d. is an area in which international

Art Burtscher has a choice of investing 10,000 at either 5 percent simple interest or 5 percent compound interest that is compounded annually. What will be the difference between the total amount of interest earned after two years no difference O 25 O 50 O 100

Use the following information to answer this question Windswept, Incorporated 2021 Income Statement ( in millions) Net sales 11,150 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income 7,650 465 3,035 88 2,947 Taxes 619 Net income 2,328 Windswept, Incorporated 2020 and 2021 Balance Sheets ( in

Standard setting bodies (check all correct answers) a. are usually in charge of enforcing standards b. include the FASB c. include the IASB d. include the SEC e. include the GAAP

Dividends are recognized in profit or loss only when a. the entitys right to receive payment of the dividend is established D. it is probable that the economic benefits associated with the dividend will flow to the entity and C the amount of the dividend can be measured reliably. 3 of the qualifications above must be met to be recognized as

A, B, C have the same options which are they?

W. 01 A p5 p6 p2 A Reduced graph TChoose Waitfor graph Resource claim graph Resource allocation graph Directed graph Reduced graph Cycles graph

Use the following information to answer this question Windswept, Incorporated 2021 Income Statement ( in millions) Net sales 8,650 Cost of goods sold Depreciation 7,340 410 Earnings before interest and taxes 900 Interest paid 88 Taxable income 812 Taxes 284 Net income 528 Windswept, Incorporated 2020 and 2021 Balance Sheets ( in millions) 2020

Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Hargin Income Stateeent For Year Ended December 31 Sales (10,000 units at 300 each) Variable costs (10,000 units at 240 each) Contribution margin Fixed costs 3,000,000 2,400,000 600,000 420,000 280,000 Income 1. Assume Hudson has a target income

FDT Pty Ltd, a corporate tax entity, has the following transactions for the 201920 tax year Date 300619 120719 121219 240120 170220 Transaction Nil Balance Received Unfranked Dividend 201819 Balance of Company Tax Paid Paid Fully Franked Dividend Received 201718 Tax Refund following amended return Paid Fully Franked Dividend 4,200 15,000 14,000

On July 1 of the current year, West Company purchased for cash, 8, 10,000 bonds of North Corporation to yield 10. The bonds pay 9 interest, payable on a semiannual basis each July 1 and January 1, and mature in three years on July 1. The bonds are classified as AFS securities. The annual reporting period ends December 31. Assume the effective

1 Given two points (1,1,1) and P (10,3,7), Do the followings (1) Find the line equation P(t) which starts at P(0)P and ends at P(1)P. (2) Calculate the point which divides the line in a ratio of 0.30.7. 2 Find the equations for the tangent line to the curve F(t)(3 cost,3 sint,10r) at 1 x2.

Duty paid goods returned to Canada are Not subjected to duty and taxes because they have been transhipped into Canada via a thirdparty country that has a trade agreement with Canada. Subject to full duty and taxes. Not subject to duty because they were imported previously into Canada, provided they are not advanced in value or improved. Not

Ivan Valentine made 4,000 on an investment that yielded an 8 percent return after 1 year. How much did Ivan invest O 40,000 50,000 60,000 O 70,000

In 2019, Hexafun, Inc., had sales of 530,000, costs of 325,000, depreciation expense of 70,000, and interest expense of 40,000. Assume a tax rate of 21. Answer the following A. Prepare a (simplified) Income Statement to calculate the companys net income for 2019. B. Suppose the firm paid out 35,000 in cash dividends in 2019. What was the addition

Suppose that Samsung's line of LED Smart TVs is: P = 2,000 -0.005Q; the allocated TC = 80,000,000 + 500Q; the equity capital invested is $100,000,000 and the corporate tax rate is 30%. The firm's break-even point is: Question 5 options: 69,400 230,600 100,000 160,000 44,300

The IFRS conceptual framework includes (check all correct answers) a. the objective to provide financial information that is useful to current and potential providers of resources in making decisions b. Relevance and Faithful Representation as two fundamental qualitative characteristics that make financial information useful c. Four enhancing

Customs law imposes 3 basic obligations (1) to report goods to customs, (II) to make due entry of them, and (III) to pay duties and taxes that are applicable. True False

When using the Navigation Bar in QuickBooks Online to enter in sales transactions, a user must perform the following: Multiple Choice A. Select Create (+) and click on the drop down arrow for New transaction. Next, select the type of transaction and complete the online form. B. Select Sales and select New transaction from the Customer transactions

Answer the following questions in a 2 paragraph reflection 1. How has your PSR reading gone this semester so far 2. Have you improved your use of the PSR method or stopped doing it 3. If you stopped, why What barriers did you face to continuing or doing it as well as you wanted 4. How can you make the process more efficient for yourself 5. What

In 2017, Eklund, Inc., issued for $103 per share, 90,000 shares of $100 par value convertible preferred stock. One share of preferred stock can be converted into one share of Eklund's $25 par value common stock at the option of the preferred stockholder. In August 2018, all of the preferred stock was converted into common stock. The market value

Explain the meaning of intention to enter into a legal relationship as one of the essential requirements of a valid contract. Annie works as a graphic designer. She agreed with Chris, her father, that for a sum of $5,000, she would prepare a series of promotional poster advertising Chriss business. Annie prepared the posters and they were duly

Investigate the State of Georgia income tax with holding law, and find the answers to the following questions: Who must withhold the tax? How are covered employers and covered employees defined? Are there any reciprocal agreements into which the state has entered? If so, describe them.