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Accounting questions and answers for July 08, 2023
Accounting questions and answers for July 08, 2023
Kingbird AG purchased a new plant asset on April 1, 2022, at a cost of 954,000. It was estimated to have a service life
Vibrant Company had $990,000 of sales in each of Year 1, Year 2, and Year 3, and it purchased merchandise costing
The following is a list of eligible medical expenses that have not yet been claimed: -December5,2021: $680
1. 2. 3. 4. 5. 6. Form the following information calculate WC:- Annual sales are estimated 100000 units @ 20/-
Logan Company owns equipment that cost $140,000 when purchased on January 1, 2018. It has been depreciated using the
A10-year bond was issued at par for $250,000cash. This transaction should be shown on a statement of cash flows under
Down Under Products, Limited of Australia has budgeted sales of its popular boomerang for the next four months as
Entries for issuing bonds and amortizing premium by straight-line method Smiley Corporation wholesales repair products
Why would an auditor contact an audit client months after an audit has been completed? To inform the audit client that
Refer to Sales Journal below: Sales Journal Jan 4 Cr. Archer Limited Bought 6 boxes of tiles 1,000 Beta Company
J Co. (a Canadian-controlled private corporation) had a Class 8 UCC balance of $10,000 at the end of 2022. In 2023, J
24 V For the circuit on the right, determine the equivalent resistances Rac and Rab. (You must specify series-parallel
Many of the accommodations to improve work-life balance increases the costs to the company. Large successful companies
Use the method of partial fractions to obtain the time-domain signals corresponding to the following z-transforms: (b)
Amari's Alterations uses a job order costing system. At the beginning of January, there is only one job in Work in
Find all the node voltages/mesh currents in the circuit shown above. Note that, depending on the analysis. method you
Favor Company has a current ratio of 1.35 on December 31. On that date the company's current assets are as follows:
For the most recent month Time Tec Industries Ltd. incurred the costs as listed in the table. Production supervisor
Key trade-offs an organization may face when deciding on pricing strategies are type of raw material used in
For part of the summer of this year, Sammi worked full-time at a local accounting firm. Sammi is a 19-year-old
If a company's revenues are greater than its expenses, increasing its revenues and decreasing its expenses will A) not
If Capital has been credited, it is likely that A) services were provided to a cash customer. B) the owner made an
Organize U provides inventory services to corporate clients. In March, Warehouse A, used the services of Organize U to
A cybersecurity committee is discussing items in the risk register and is making decisions about their disposition. The
Mr. King and Ms. Almeda are two candidates for the same financial securities sales position. Mr. King has a consistent
An auditor has observed that a systems engineer does not possess the necessary qualifications for the position. What
Markus is an accountant in the accounting department of Armstrong Insurance. Markus has a son that has college tuition
The term, "work", A. refers to only activity for which one is paid a salary. B. refers to only activity for which one
A causal linear shift-invariant system is characterized by the difference equation y(n) = y(n-1) + y(n-2) + x(n)-x(n-1)
Government-wide financial statements include which of the following? O Balance sheet and income statement. Balance
The pill to deliver a particular drug has a solid spherical inner core of pure drug D and is surrounded by a spherical
Question 2 The Silver Oak County created a legally separate county hospital authority. Members of the board of the
Based on the figure below: a. Determine the voltage across 60, b. Determine the power dissipated through 1.60. c.
Walter White's lawn statue fabrication machine has a life expectancy of 45,000 units. The machine cost $1,000,000 and
A time-scaled model for the body's blood glucose level is shown below. The output is the deviation in glucose
Which of the following is a true statement about the Federal Accounting Standards Advisory Board? OIt is a sub-agency
Describe, Golden rules in accounting with types of accounts and examples?
Suppose that Morduch believes that her company "Meals" can put aside only $37,500 today to buy the new van in 3 years.
Consider the packet-switching network below with the costs associated with each link indicated. Using Dijkstra's
Use the Convolution to find the output of the system shown in the figure below, given that the input signal is x(t) and
Calculate i, and is currents. 12 R2 250 V1 -25V R1 :500 R3 V1 100 R4 R6 R8 240400 160 R1 28Q What should be the source
Design and build the following circuit using only the parts listed. Design a circuit so that we have forward/reverse
Three parts of a single phase electric system are designated A, B and C and are connected to each other through
Determine the trigonometric Fourier Series coefficients of the signal shown below. X(t) = T - < t < Otherwise -T/2 1
Given the signal x (t) = 10 sin [400 t]; a- (3marks) Is x(t) an even or odd signal? Justify your answer. b- (3marks)
To comply with the matching principle, the cost of labor services of an employee who participates in the manufacturing
Consider the pneumatic cylinder A, associated solenoid controlled valve and magnetic reed limit switches to interrogate
Analyze your familiar companys industry, financial stability, and any recent news or events that may impact the audit.
Peter Minuit, director-general of the Dutch West India Company in North America bought Manhattan Island from Native
The system in Figure 1 below represents a radial system network which consists of two downstream fuses, four
The famous KB Steakhouse is located near Fred's Spring Rolls Bar & Grill. At the end of the company's fiscal year on
Discuss in detail about liquidity and solvency ratios in detail and its pros and cons with real life examples?
Assume that Deral Ltd is required to produce its financial statements on a monthly basis. The following transactions
White Rhino provides daycare for children Mondays through Fridays. White Rhino charges each parent $610 per child per
Kingbird Company combines its operating expenses for budget purposes in a selling and administrative expenses budget.
Extreme Ltd is a small firm that specializes in selling bespoke PC monitors. The firm needs to purchase an additional
Rainbow Corporation uses the allowance method in estimating uncollectible. At the end of the year, it estimates that 2%
As part of a group-term life insurance plan, Morticia received $50,000 of group term insurance. The cost of Morticia's
Given the following data, what is cost of goods sold as determined under the FIFO method? Sales revenue 350 units at
Colonial Corporation uses the retail method to value its inventory. The following information is available for the
Lydia Ltd buys a car for its day-to-day operations for the price of 20,000. The company expects to keep the car for
John (age 50) and Mary (age 49) have two dependent children. In 2023, they have the following information: Wages - John
Discuss the differences between Memorandum of understanding (MoU) and Contract in details with relevant examples?
You are given the following data for the current financial year of Rio Co. Ltd: Variable Fost Fixed cost Net profit
POR Ltd. has furnished the following data for the two years: Sales Profit/Volume Ratio (P/V ratio) Margin of Safety
You are given the following particulars i. Fixed cost 1,50,000 it iii Variable cost 15[per unit Selling price is 30 per
FIND OUT the cost of joint products A and B using contribution margin method from the following data: Sales A: 100 kg @
A business merger differs from a business consolidation because: Select one: O a. a merger dissolves all but one of the
In a balanced three phase with three-wire Y-to-Delta circuit, the source phase voltage is V = 120/0 and impedance on
Explain the difference between evolutionary and revolutionary change and evaluate techniques to plan effective change
FIND OUT the cost of joint products A, B and C using average unit cost method from the following data: (a)
Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor $ 285,000
The following table is based off a survey of employment from 2018. What is the p- value for testing if the proportion
Discuss secular seasonal and cyclical variations within economic data be sure to indicate how each type of variation
Consider the circuit shown in Figure P6.76 with transistor parameters = 120 and V=. (a) Determine the small-signal
1. Calculate the total current in the circuit. And the current passing through 1kohm? Use Kirchhoff's laws. 2.
A son is born to Fatima now. Fatima wants to give her son $55,000 when the son is 18 years old. The bank gives 3%
Mewah Holdings Berhad makes two products and is currently reviewing the profitability of its product line. The company
Overhead cost variances is: The difference between overheads recovered on actual output - actual overhead incurred. (a)
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs
Texxon Corporation issued $400,000 of 20-year bonds with a payment rate of 12%, payments are made semiannually. Assume
The following information is available from the records of LoopTech Services. On January 1, Velma Morgan, Capital had a
The Whispering Winds Company is planning to purchase $458,000 of equipment with an estimated 7-year life and no
At Cullumber Company, overhead is assigned to production departments at the rate of $5 per machine hour. In July,
On April 1, 2022, Assissippi Ski Resort purchased a used snow grooming machine for $140,000. Assissippi's management
Griffin Corporation prepared the following two income statements (simplified for illustrative purposes): First Quarter
A Close Corporation must maintain proper books of accounting and record all business transactions such as Select one: O
As an assistant engineer, in order the calculate the friction loss of a fluid flow, you are being asked analysis the
The following list of balances for the year ended 30 June 2021 was taken from the records of Jay Z Ltd Share capital
Meewasin Building Ltd. manufactures a caulking compound that goes through three processing stages prior to completion.
ABC Company is trying to decide whether to replace an old machine with a new one. The following data were analyzed.
The following are the purchase transactions for the Bittersweet Company for the month of October 2020, Merchandise
Redford Company hired a new store manager in October 2021, who determined the ending inventory on December 31, 2021, to
Silver Sage Company prepared income statements that reflected pretax income of $47,000 for 2021 and $65,000 for 2022.
Joe's Tax Service provides professional accounting and tax services. All tax return services are classified into one of
Dealer A quotes $5.60/$5.65 and Dealer B quotes $5.70/$5.75 for the same share. At what price would an investor sell
Use the following table: Cash Short-term investments Receivables Inventory Prepaid expenses Total current assets
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process
Prepare a statement of cash flows using the direct method. Prepare a reconciliation of profit to cash provided by
Bond A pays an 8% annual coupon, has a YTM of 6%, and has 12 years to maturity. Bond B pays a 6% annual coupon, has a
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