Accounting Questions and Answers December 19, 2022

How is 992,335.51 calculated? Where does this number come from (aka formula/equation)?

Duration ( periods months) Hourly Rate Hoursmth Total Costmth Discount rate (per month) Revenue Alt 1 Revenue Alt 2 Probability off Alt 2 Bonus Probability off no Alt 2 Bonus Alt 2 Bonus Amt Prob Probability 0.7 0.3 Alt 2 Bonus Calc Inputs Outputs Alt 1 NPV Alt 2 NPV Alt 3 0.45 Rev Bonus Alt 2 30 percent chance off losing 338,442.99 24 140 1000

The Human Resource Department (HR) in a company usually has a variety of forms required to be completed when hiring a new employee. For each scenario, discuss which forms might be needed and which are necessary to be in compliance with payroll laws. a. Company As main office is located in Texas, but also has offices in New Mexico, Oklahoma, and

A payroll accountant is preparing the final pay for a commission-based salesperson. Who has resigned from the firm. What will happen to the salesperson's commissions that have been earned but not paid?

Explain to me how did they get the discount factor, new inflows and cumulative cash flow?

scounted cash flow table to calculate the time needed to pay back the initial vestment. Cash Flow (50,000) 30,000 30,000 40,000 25,000 15,000 will we reach a breakeven point Discount New Factor Inflows 1.00 (50,000) (50,000) 0.87 26,100 (23,900) 0.76 22,800 (1,100) 0.66 26,400 25,300 39,550 47,050 0.57 0.50 Cumulativ e Cash Flow 14,250 7,500 2.04

For instance, the city council is considering constructing a 20-mile long bike trail through their city. In your post, discuss some of the things they need to consider. What would the tangible costs be (cost of concrete cost of the land, labor cost, and cost of renting the machinery)? What would be the intangible benefits (the benefits that don't

Assume that you have a rich uncle who dies. In his will, he leaves you with the following option: You can have $100,000 today or $200,000 in ten years. Interest rates are 10 percent. Which would you choose? Explain Why?

Use the data below for Schoen Ltd to answer the following question Date Jan. 1 May 21 Aug. 3 Dec. 14 Explanation Beginning Inventory Purchase Purchase Purchase Units Unit Cost Total Cost 16,000 15,050 12,600 37,440 81,090 400 350 280 780 1,810 40 43 45 48 Schoen Ltd uses FIFO and 635 units are sold during the period. What is cost of goods sold

Your manager agrees that its probably in the best interest of the company to do some noise monitoring, after you gently mentioned that based on the OHS Legislation, you are required to do so in order to ensure your workers arent being over exposed to noise. Great job you Evaluation What type of equipment might you use to do some area noise

With respect to the Hola-Kola case: The Capital Budgeting Decision, why is Net Working Capital not added for every single year 1,2,3,4 as well? Ideally, there should be no WC in Year 0 because the company has not started with production. And then there should be for Year 1,2,3,4 and year 5. Why is it subtracted for year 0 and added back in for

Account Receivables Account Payables Net Working Capital (NWC) 4,438,356.16 1,278,246.58 (4,240,109.59) 4,240,109.59

Explain in more detail?

Input Area Expected return Standard deviation Lower bound Upper bound Output Area Percentage in range Perentage below lower bound 11 24 13 35

Many public listed companies have been adversely affected by the global economic crisis triggered by China-U.S trade war plus the recent covid-19 pandemic. Evaluate the effectiveness of the current risk management policy that will be undertaken by the company to protect its business value. Using big data analytics approach, devise a comprehensive

Stiedemann Ltd has the following information for the most recent year Account Net Sales Accounts Payable Depreciation Expense Cost of Goods Sold Selling and Administrative Expenses Accounts Receivable Income Tax Expense What is Stiedemann Ltds Net Income Amount 176,000 7,000 13,000 87,500 23,500 5,000 13,000

Assume Rafael can earn an 4 percent aftertax rate of return. Use Exhibit 3.1. Would he prefer 1,500 today or 2,250 in five years,EXHIBIT 31 Present Value of a Single Payment at Various Annual Rates of Return Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 12 0.893 0.797 4 5 6 7 8 11 9

.Write in your own handwriting using a 1012 column worksheet. Use blackblue ballpen. Journal entries and solutions should be in good accounting form with correct explanations (ie To record purchase of equipment). All amounts should be captioned, no abbreviations. II. Current Assets and Current Liabilities The accounts below were taken from the

Joe Brock owns 10,000 of the 60,000 outstanding shares of Big Corporation; Leslie Ross own 20,000 shares; Mark Jones and his twin brother Sam each own 5,000 shares; and about 300 other shareholders own the remaining 20,000 shareswith no one other shareholder owning more than 1,000 shares. According to the provisions of SFAS 94, since Leslie owns

Log the following action for Facedown Paper Company Collections on account, 155,000 Selling and administrative expenses paid 22.000 Paid to account, 37,000 Direct materials purchased on account 26,600 Indirect materials purchased into the account, 4,200 Requested direct materials costing 8,750 and indirect materials costing 4,200 to manufacture

Todds aftertax pay with the salary sacrifice option would be 54,809 (includes LMITO). Calculate and show your workings for the total benefit value for the package. According to Little Pear Salary Packaging Policy, would this agreement be accepted or rejected Explain why it is accepted or rejected.

What are companies approach to sustainability for Qantas airlines and also give recommendations to improve it. What is the sustainability that are substantiated by learned concepts or research? for Qantas airlines. SWOT analysis of Singapore airlines weaknesses and threats. Please provide references

a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Round to one decimal place. Enter all amounts as positive numbers.,The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Calvin Motorsports,

In recent times the demand for high quality, and more informative auditing and assurance services has increased. With reference to the main theories used to describe the demand for assurance services. Explain why the demand for assurance services has increased based on the main theories?

The records of Healthy Soft Drinks show the following figures. Calculate the missing amounts. Employee Earnings Salaries for the month $Answer Overtime Pay $2,200 Total Gross Pay $Answer Deductions and Net Pay Withheld Statutory Deductions $2,400 Charitable Contributions $Answer Medical Insurance $160 Total Deductions $2,627 Net Pay $6,973

Pearson, Inc. for 2021 has 50 million in sales with 4.5 million of net income. They show about 32 million in total assets. During the year the company was involved in two lawsuits. Lawsuit A was filed against Pearson by 3 employees for wrongful termination. They are suing for back wages and other damages totaling about 150,000. Pearson has some

Leah next must draw a sample from Ms. Danielle Rollins. Ms. Rollins indicates that she has a history of bruising after venipuncture, and sure enough, a hematoma begins to rise shortly after Leah inserts the needle. She then notices that Ms. Rollins has become pale and is perspiring. What other steps should Leah take? What type of communication

Leah is preparing a patient, Ms. Rollins, for a blood draw. Ms. Rollins tells Leah prior to the procedure that she is known to bruise at the needle site following venipuncture. Ms. Rollins seems anxious, and Leah notices that she is sweating and that her face looks pale. What can Leah do in this scenario based on her observations & knowledge

Show the journal entries.,Unless indicated otherwise, WTG pays its noninventory bills exactly 30 days after incurring the charge. 1) 2) 3) WTG incurs salary costs of 32,900 for a 5day week. All employees are paid on Friday for the preceding week. Therefore, salaries for Week 1 would be paid on Friday of Week 2. Assume that December 31 of the

Describe the publicly traded, dividend-yielding company you In your description, include the following: Why would you choose target as a company for publicly traded to work? For the company target? Name & Ticker symbol of the company? Current stock price per share for the company? Dividend paid most recently by the company?

On December 1, Gotham City issued $1,000,000, ten year, 6% general obligation bonds at par with no bond issue costs. The bonds pay interest on September 1 and March 1. What amount of interest expense and bond interest payable should Gotham report in its government-wide financial statements at the close of the fiscal year on December 31?

Novak is the primary provider of spirit apparel for many high schools. Management has been evaluating two of its key products for changes in selling price and sales volume in comparison to expectation the quarterzip jacket and the hooded sweatshirt. Novaks expectations and actual results were as follows. Quarterzip Sweatshirt Budgeted Sales Volume

Schreiber Corporation performed an inventory count on its year end date of November 30, 2021. The physical count reported on that date was $756,120. As of November 30, 2021, the bookkeeper adjusted the balance in the Merchandise Inventory account to agree to the $756,120 physical count. Schreiber Corporation uses the periodic system to account for

What is "Dirty Data" What are some safeguards against data integrity issues? Why is the flow of information both up and down the management channel important? Give two examples of monitoring activities in your control environment Write at least a paragraph in response to each question. Use examples from current events if possible. How does

Calculate the insurance premium values for Columns E and I. The formulas are based on a flat rate of $100 per policy, $35 added for each policy level, and 60% additional for each year under 100 in age. For example, Policy Level 1 costs $35 and Policy Level 2 costs $70 plus $100 base rate. If the client is 67 years old, then an additional $33 is

1001 12747 67 1 154.80

What would the sales journal look like? What would the general journal look like?

2 3 6 6 8 10 11 12 13 14 15 Journalizing sales and cash receipts transactions proving and ruling journals 1., 4., 5., 6. DATE 2020 Oct 24 Brought Forward 26 Slumber Inns 28 Cash Sales 29 Summit Lodge 31 Cash Sales Total 2. Col. No. ACCOUNT TITLE 1 2 3 4 5 6 Column title General Debit General Credit Accounts Receivable Credit Sales Credit Sales Tax

The unadjusted trial balance for Margo firm as of December 31, 2018 is given below. Use this trial balance and the data given for necessary year-end adjustments in order to create a corrected, adjusted trial balance and financial statements for Echo firms bank. Required: 1. Complete the adjusting entries, based on the data that you have been

Cash Cash Equivalents ACCOUNT Accounts Receivable Allowance for Doubtful Accounts ShortTerm Investments Merchandise Inventory Supplies Inventory Prepaid Rent Prepaid Insurance LongTerm Investment (60 ownership) Land for Future Expansion Debt Service Fund Land Machinery Equipment Buildings Accumulated Depreciation Patents Copyright Goodwill

Sales for March were 19.66 million. You see that there are liabilities of 6 million and total equity of 7.3 million. What is the total asset turnover?

Recreate the trial balance for Knighttime Tours and ensure that debits equal credits..,A parttime bookkeeper for KnightTime Tours has created the trial balance at the end of the year, and cannot get it to balance. All the entries have been journalized and posted to the general ledger properly, and all the accounts should have normal balances. May

On April 1, 2019, Exceed Technologies paid $240,000 for rent on warehouse space one year in advance. If Above and Beyond makes the appropriate adjusting entry. How much will be reported on the December 31, 2019 income statement for rent expense?

Your client received the following income during the taxable year: social security, $4,500, a gift from his brother, $1,500, and $1,000 from a Pega 4 drawing. The client has doubts about whether it is gross income or adjusted gross income. Using the information provided. How can you explain both terms to the customer?

Identify and describe your current life stage. How does your current age or life stage affect your financial thinking and behavior? To what extent and in what ways does your financial thinking anticipate your next stage of life? What financial goals are you aware of that you have set? How are your current experiences informing your financial

Calculate the maturity value of a promissory. Note having a face amount of $3,200, an interest rate of 14%, and a term of 140 days. Assume 360 days in a year.

If your firm estimates bad debt expense as 2 of credit sales, which are 286,000 for the year. and the Allowance for Doubtful Accounts has a debit balance of 2,860, how do you record bad debt expense

Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 125% of direct labor cost. Selected data concerning the past year's operation of the company are presented below. January 1 December 31 Direct materials $ 91,000 $ 54,000 Work in

The following data are for Ivory Inc. Cost of goods sold for the year Beginning inventory Days sales in inventory Calculate the ending inventory. 5,322,500 435,000 28 days

The decision that Malaysia would adopt IFRS was in large part based on the view that Malaysian reporting companies and the Malaysian economy.Would benefit from adopting accounting methods that are the same as those adopted internationally. Do you think that all Malaysian reporting entities or companies have benefited from International

It is required to test whether those who practice yoga have average blood sugar less than 120. A sample consisting of 17 persons who practice yoga is observed. If their mean blood sugar is 108 and S.D is 8. What would you conclude? Also find the confidence interval and interpret the results. The mean yearly sales of a product in a mall is 55.3.

Crest Corporation established its Poblacion branch in 2019. Merchandise costing P120,000 is shipped to this branch. During the initial year, the home office acquires an equipment for P80,000 to be carried in the branch books, and the branch maintains physical possession and use. The equipment has a useful life of 4 years. The branch sells 60

For each of the two items below, the company keeps its records on a cash basis. The companys accounting year ended 30 September each year. (4) On 2 February 2021, the company paid insurance premium for its premises amounted to RM60,000 for the year ended 31 January 2022. It was recorded as follows RM 60,000 2021 February 2 Dr Insurance Cr Cash No

How many things that you do during your waking hours are purely biologically based? (Are there any?) Give at least 3 examples of routine behavior and distinguish the learned cultural practices from biology. How do your examples relate to the concepts of holism and cultural integration and why this relates to the four field approach of anthropology?

This problem seeks to determine the set of flows that minimizes the total cost of satisfying customer demand. The situation you can model in Excel and solve using Solver or LPSolve is depicted below where two plants can deliver to 3 distribution centers and directly to some retailers. The total cost associated with transporting and storing one

500 500 Plant 1 Plant 2 DC 1 DC 2 3 DC 3 3 2 2 1 Max flow 400 400 LO 350 6 DC 1 01 6 DC 2 DC 3 4 3 3 2 2 4 2 3 Retail 1 Retail 2 Retail 3 Retail 4 C. Assume that there is also a requirement on the maximum allowable flow through each DCs that is given below Retail 5 250 150 300 200 100 Determine the flows along each arch that satisfy the design

During 2020, Polly started manufacturing and selling a new product with a three-year warranty. Polly prepares annual AJEs once each year as of 12-31. Based upon past experience with similar products, Polly estimated the following warranty costs as a % of sales dollars: First year of warranty 2% Second year of warranty 3% Third year of warranty 6%

On 01-01-21, Hazel began giving its customers one coupon on each $150 package of Hoosier that it sold. The coupons do not expire. Upon submission of two coupons, Hazel will give the customer an iPhone case. Hazel estimates 30% of the available coupons will be presented for redemptions. In 2021, Hazel sold 18,000 packages of Hoosier. In 2021,

Mr. Boyba is a mixed income earner. In year 2020, he earned gross compensation income of P1,887,880, including 13th month pay and other benefits of P138,000. In his trading business, his gross sales is P2,764,180, cost of sales is P1,245,882 and incurred total deductible business expenses of P529,150. 1. What is the income tax due of Boyba under

HB Company is a private company with a significant amount of long-term debt. The company reports under IFRS. One of the conditions of the debt-financing indenture is that it must provide quarterly financial statements to the lender. HB pays tax at the rate of 25% on the first $200,000 of income and 40% on any income in excess of $200,000. During

BW Enterprises generates information from its six divisions. In terms of IFRS 8, these divisions are operating segments. The following amounts (stated in millions) have been assembled to determine which of these operating segments are reportable in accordance with the standards thresholds Auto parts Office furnishings Publishing Retail Finance

How should you account for inventory if you have your own store? What method of inventory valuation (FIFO, LIFO, etc.) would be most appropriate? How would you use this inventory valuation information to make financial decisions for your company?

Calculate the market annual growth rate for each product category?

Annual Market Sales Annual Market Growth Rates MARKET ANALYSIS Socks Industry Sales 2015 5,256,000 Q5 2016 5,534,555 Q6 2017 5,435,000 Q7 2018 5,643,777 Q8

Inventories in the warehouse are actually there and have not been made up All sales orders are included in the sales journal The companys lease with the bank is in the name of the company rather than the president The controller includes the proper items in the balance sheet, income statement and footnotes Inventories are not on consignment from

Additional information Equipment that cost $8,000 was sold for the carrying amount of $3,750 Dividends declared and paid were $10,000. Required Prepare the operating activities section for the statement of cash flows using the direct method.

Palm Tree Limited has the following financial statements Income Statement For the Year Ended December 31, 2022 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income Tax Net Income 165,000 97,500 67,500 27,500 40,000 3,500 36,500 11,000 25,500

Michelle Inc. uses a level 4 variance analysis of its manufacturing overhead costs and has the following results for April. A. Budgeted direct labourhours per unit is used to allocate variable manufacturing overhead. Fixed overhead is allocated on a per unit basis. B. Budgeted amounts for April are Direct labourhours Variable labourhour overhead

Soft Cushion Company is highly decentralized. Each division is empowered to make its own sales decisions. The Assembly Division can purchase cushion stuffing from the Production Division or from external suppliers. The Production Division has been the major supplier of stuffing in recent years. The Assembly Division has announced that two external

Trokken Company's accounts receivable balance was $175,000 at year-end 2014. At year-end 2015, its accounts receivable balance was $135,000. How should the change in accounts receivable under the indirect method cash flow statement be recorded?

Use theinformation

June 0 22,000 2,000 40 198,000 53,600 364,400 Production Data Beginning work in process units Units started into production Ending work in process units Percent complete ending inventory Materials Labor Cost Data Overhead 112,800 Total

The garden supply company is also considering taking out a loan and buying a small truck to save costs on deliveries. The truck costs $65000 and is expected to earn end of year after tax net cash inflows of $11000, $17000, $20000 and $20000 for the next four years before it wears out sufficiently to be unreliable and must be sold for an estimated

Michael Anderson is starting his computer programming business and has deposited in initial investment of 15,000 into the business cash account. Identify how the accounting equation will be affected. Assets Liabilities Owners Equity Gomez Service Company paid its first installment on a note payable in the amount of 2,000. How will this transaction

Suppose the taxpayer originally purchased the machinery by paying 12,000 in cash and giving the seller a note for 12,000. When she sold it she received 38,000 in cash and the buyer assumed the 12,000 note. a) What is the amount realized b) What is the adjusted basis of the machinery c) What is the gain on the sale of the machinery

What is Sarbanes-Oxley Act of 2002? Explain. What is the importance of Sarbanes-Oxley Act of 2002 in Auditing in CIS Environment. Explain. What are the requirements established by the Sarbanes-Oxley Act of 2002? How does the Sarbanes-Oxley Act relate to internal controls? Explain.

Abdula Corporation, a legal firm, closes its ledger every month. In March, Abdula purchased 1,360 of supplies and debited them as Office Supplies. On March 31, Abdulas Supplies Expense was increased by 1.520 for the adjusting entry. On the same day, the balance of Office Supplies was 11.120. What was the beginning balance of Office Supplies on

Read each description. Match the consumer types to the corresponding products. 1 Early Majority 2 Innovator Laggard 4. Early Adopter 5. Late Majority I 1) Electric car A plugin batterypowered automobile 2) PlayStation VR Headset A gaming headset worn over the eyes to simulate a reallife experience 3) Movies newly released on demand Rented via

Calculate the WACC for a company with 84,841 in equity, 78,466 in debt with an average interest rate of 0.08, a tax rate of 0.53, a beta of 1.21, a risk free rate of 0.05, and a market risk premium of 0.08. Question 2 pts Suppose a company uses only debt and internal equity to Finance its capital budget and uses CAPM to compute its cost of equity.

I can't find the percentage of AR Transactions. There are 2 sales transactions for customer 100180 totaling $5,250.11 and 43 sales transactions for customer 100140 totaling $74,177.48.

After reviewing a list of parties related to Roger Company, you notice that the customers with customer numbers 100180 and 100140 are related to the owners of the company. Please use the Roger Company Accounts Receivable file to determine the amount of accounts receivable that relates to sales made to these relatedparty customers. What percent of

Although Homeland plc was a public limited company, it was not listed on a recognised stock exchange. However, Daniel was keen for the business to become listed and felt that it should be floated immediately after the current expansion phase was completed in three years time. He, therefore, saw Vulturus Ltd as providing bridging finance to help

iHerb Inc. has several herb extractor evaporators that were purchased four years ago at a price of $20,000. These machines currently require annual maintenance costs of $2,000. However, the maintenance agreement with the manufacturer expires at the end of two years and iHerb expects annual maintenance to increase to $8,000 per year thereafter. The

Balance sheet. The following are account balances as of September 30, 20X1, for Ray Hospital. Prepare a balance sheet at September 30, 20X1. (Hint net assets will also need to be calculated.) Givens Gross plant, property, and equipment Accrued expenses Cash Net accounts receivable Accounts payable Longterm debt Supplies Accumulated depreciation

Depreciation expense Labor expense Bad debt expense Supply expense 75,000 650,000 9,000 94,000,Statement of operations. The following are annual account balances as of September 30, 20X1, for Snead Hospital. Prepare the portion of the statement of operations ending with operating income for the 12month period ending September 30, 20X1. Givens Net

ABC Co has a current assets of $50,000 and total assets of $150,000. ABC has current liabilities of $30,000 and total liabilities of $80,000. What is the amount of ABC's owners equity?

To acquaint students with the annual report and Form 10-K of a publicly held company audited by a CPA firm.2. To provide data for the practical application of certain steps in the financial statement analysis and audit processDetailed Instructions:For this assignment, you may select any public company that issues stock and is traded on the stock

What was the effect on earnings per share of these sales to franchisees? BV charges franchisees various fees and discloses them in a somewhat confusing manner. The income statement shows, in revenues: Royalties and other fees $8,142,000 However, Note 1 to the financial statements lists: Royalties and other fees $7,590,000 Area Development fees

Doug Heffernan is a delivery driver for Quick-to-You Delivery, and is paid based on hours worked each week. He earns $880 a week for a 40-hour week, and time and a half (per hour) for anything over 40 hours per week. During that last week of November 2021, Doug worked 46 hours. The income tax withholdings are 20% of gross earnings, Canada Pension

A small printing firm CreateUrCards is currently keeping its accounting records in paper journals and ledgers. It is a very tedious way to maintain records and a new staff member (Jesse) at CreateUrCards has suggested that at a bare minimum, they should consider using an integrated accounting system to minimise errors. Jesse has created a basic

You are a CPA and have been asked to volunteer a few hours of your time to review the accounting records and procedures of a small nonprofit, charitable organization with an annual budget just under $5 million. During your review, you are surprised to find accounting records indicating that the CFO initiated and approved three non-payroll checks

Consider the variation of the effective index of the optical modes of a multimode silica fiber with the normalised frequency (V number), at an operating wavelength of 1.55 mm, as shown the figure below. Effective index, n. 1.440 1.440 1.440 1.445 HEH ME Ma Normalised frequency, V WA TM (a) Determine the maximum Radius (Rmax) of the fiber by

2 het p , and C 3 , 1 2 Find B and P

There are many disadvantages of EOQ, one of which is the assumption of steady demand of a business product and immediate availability of items to be re-stocked. Given multiple assumptions of this model. In what ways do you think the model lack reliability when it comes to fluctuation of orders?

Company ABC receives proceeds from a note of 880 dollars. The note does not have a stated interest rate, and the face amount of the note is 1,000 dollars. What is the implied interest rate, rounded to one decimal place? What formula do I use to get this answer?

The transfer of shares from Mr Lee to Mr Siva will be liable to tax under the Real Property Gains Tax Act. Explain to Mr Lee the reason that he will be taxed under the Act. Assuming that Mr Lee is liable to RPGT on the transfer of shares, compute the RPGT and show all workings. Based on your answer in advise Mr Lee and Mr Siva on their legal

Mr Lee and his friend Mr Ramu, both Malaysian residents, incorporated a company, Platinum Properties Sdn Bhd on 1 January 2010 and subscribed for 200,000 and 100,000 shares respectively. The principle activities of Platinum Properties are investing in properties. As at January 2013, a valuation was made on the land and also buildings owned by the

Explain a situation you have observed (or read about) in which. A firm made a decision considering irrelevant costs or did not consider relevant costs. What was the outcome of the decision, and what could have been done differently?

Corp sells tables and currently has sales of $25,000 Fixed costs of $2,000 Selling price of $20/unit CM ratio (%) of 20%. Also assume a 40% tax rate. Corp's net income (after taxes) will be 0 (zero) if sales (in units) decrease by what percentage?

The ABC Toy company invites you to take part in a cost study in order to improve the marketing and therefore the sale of a single product: the "Glisse" outdoor play gantry. For the past year N, you must calculate the cost price of this playset purchased from a supplier. You have the following information: -Stocks at 1/01/N: 200 gantries at 109

Identify at least one bias that impacts your decision making process.Discuss what triggered this particular bias and what steps you plan to take it to address it. Discuss how this bias impacted your decision. How confident do you feel about your decision making processes in general? Do you suffer from the "overconfidence" syndrome? If so, under

During audit of the bank. You have found out that that 50% of the asset is invested in land properties. What is the risks of these and what will you audit procedure will you perform?

You are currently performing analytical procedures. When you have also received an confirmation letter from third party that indicates a higher amount of accounts payable of the company to them. What will you do next?

Douggen manufactures and installs specialist industrial pumps. The business commenced trading on 1 January 2012 and purchased the following assets Plant and machinery 80,000 Motor vehicles 24,000 Before preparing the financial statements Douggen needs to decide how the business is going to depreciate various assets.,2. If plant and machinery is

Calculate a $5000 extra payment every 12 months that would be applied to the principle. Here is the current MS Excel spreadsheet info. I thought I would need an column for the $5000 extra payment so I created it.

Extra Payment Payment Beginning Scheduled Annual Number Balance Payment 5000Baloon Payment Date 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1,064.84 1 2 3 4 5 6 7 8 9 10 11 12 512022 170,000.00 612022 169,194.78 712022 168,387.85 812022 167,579.22 912022 166,768.87 1012022 165,956.82 1112022

What is your opinion on the fairness of equitable distribution and community property? Which is better? Judges are not financial experts. Does it make sense to allow one person with complete discretion to impose a legal decision?

As month end approaches, your company has to pay the salary of all their staff. You are required to key in that transaction under Payment Voucher based on the details below Description Salaries of January 20XX, Date 310120XX Wooden Door Manufacturer 20101000001 NAME LEE CHONG WAL DESIGNATION DEPARTMENT GROSS EARNING BASIC SALARY TOTAL

Assume that you work for an accounting firm, Glotzer and Associates LLC. The firm takes pride in being regarded by the profession as the firm that is out in front and shaping the future of accounting. To that end, Glotzer and Associates LLC expects all employees, as part of their duties, to stay current with recently issued accounting standards to

The following information is given a) Excess tax depreciation over accounting depreciation, $72,000. b) The rental income on the tax return is greater than the rental income on the financial statement by $14,000. c) The warranty expense on the financial statements exceeded the warranty expense on the tax return by $7,000. What is a deferred tax

On January 1, Year One, a company acquires the rights to an intangible asset for $300,000 with no residual value. The intangible has a legal life of ten years but is only expected to help generate revenues for six years. The straight-line method is always used. What is the net book value of this intangible asset at the end of Year Two?

You decide to check out the telephone numbers for the vendors. All of the vendors have telephone listings except for Lantern Co. You go by the address and there is a print shop called Austin Printers. You go in and ask how long they have been there and if they have ever heard of Lantern Co. They reply that the company has been at this location for

Below is the financial information of Martin Corporation for 2017. Gain on sale of investments 160,000 Net sales 45,000,000 Cost of goods sold 31,000,000 Loss on disposal of wholesale division 670,000 Interest income 105,000 Loss on operations from wholesale division 690,000 Selling and administrative expenses 8,200,000 Dividends declared on

Discuss two primary factors, two secondary factors, and one additional factor related to the functional currency of GPP, and provide a conclusion on what GPPs functional currency should be. (5 marks) b) Assume that GPPs functional currency is the Canadian dollar. i. Prepare a detailed calculation of the foreign exchange gain or loss for the year