Accounting Questions and Answers July 13, 2023

Explain why it is necessary for all business organizations to have effective financial management systems and explaining how the information held in financial management systems contribute to ongoing business performance and business planning.

A company negotiates a loan of $700,000 payable annually in seven equal installments. When preparing its financial statements, the company should show a current loan payable amount of: a. $700,000 b. $600,000 c. $100,000 d. zero

Dan was laid off from his job in 2021 and did not work at all in 2022. His Form 1099-G reported unemployment compensation in the amount of $15,000. His filing status is single and he has 2 dependents. How much of Dan's unemployment compensation is

The Health Maintenance Organization Act of 1973 provided all of the following except: a. Enabled participants to pay a variable cost and receive a broad spectrum of health services. b. Purported HMOs would operate effectively due to the incentive

Choose the sentence that has the correct capitalization: Employees of the company were laid off with little hope of returning to work. Employees of the Company were laid off with little hope of returning to work.

Davidson Company sold one of its worn out delivery trucks on December 31, 2022. The truck was purchased on January 1, 2019, for $50,000 and was depreciated on a straightline basis over a 5year life. There was no salvage value associated with the

What is one potential drawback of a strategic alliance in a health care environment Oa It causes confusion within both participating organizations Ob It can lead to the downfall of one of the organizations participating in the alliance Oc It

Allstar Brands markets Allround cold medicine and that brand is carried in drugstores 1 2 and 3 but not by store 4 Drugstore All Sales 1 2 1000000 640000 3 500000 4 400000 Cold Medicine Sales 100000 52000 30000 40000 Allround Sales 46000 29000 7000

The table below shows the annual growth rates in a country for the period 20142020 Year Growth rate 2014 23 2015 19 2016 07 2017 02 2018 2019 2020 21 32 31 The average annual growth rate in this country from 2014 to 2020 A is 118 O B is 140 O C is

The value of a business asset or security is __________ related to the expected cash inflows of the asset, __________ related to the riskiness of the asset, and __________ related to when the future cash flows are received. a. directly; directly;

Kristyn purchased video recording equipment The equipment is used 40 for her wedding photography business and 60 for personal purposes Which of the following correctly describes how the equipment will be treated Bonus depreciation is permitted for

One company has data on its inputs and output for this year The sales price of the product is 4000 the wage rate including fringe benefits is 1800 per hour and the material cost is 2 per pound If to increase the total productivity by 10 how much

Kappatronics Medical Devices has 5 sales territories (Central, NE, NW, SE, and SW) with varying numbers of customer accounts in each. Accounts in all regions have an average buying power of $150,000. The number of potential accounts in Central, NE,

Balances of the current asset and current liability accounts at the end and beginning of the year are as follows: End Beginning Cash $ 67,000 $73,000 Accounts Receivable (net) 73,000 62,000 Inventories 54,000 35,000 Accounts Payable (merchandise

A battery has a noload emf of 123 V dc with an internal resistance of 50 is connected across a circuit as shown R 1000 R 3300 R4700 r 50 31 Determine the total current IT 32 33 R 5600 R 1000 F E 123V dc R 2200 What is the terminal voltage of

Figure 419 shows the block diagram of a closedloop feedback system for the carrierfrequency stabilization of a wideband frequency modulator The voltagecontrolled oscillator shown in the figure constitutes the frequency modulator Using the ideas of

The result of a Hopkinsons test on two identical shunt machines is given below Line voltage 250 V Field currents 12 A and 15 A Armature currents 145 A and 115 A Armature resistance of individual machines 015 0 1 2 Estimate the efficiency of the

A noise process has a powerspectral density given by 10 108 0 Sn f 8 if 108 0 108 11 if 0 108 This noise is passed through an ideal bandpass filter with a bandwidth of 2 MHz centered at 50 MHz Find the power content of the output process

The perphase impedance of a short threephase transmission line is 05531592 The threephase load at the receiving end is 1200 kW at 08 pf lagging If the linetoline sendingend voltage is 33 kV determine a The receivingend linetoline voltage in kv b The

In the circuit given below if Vx5 V and R 14 ko and Ri73 k Determine the value of the voltage Vy www Sensor It is required to design a noninverting amplifier with a gain of 6 and the resistance R2 26 km Determine the value of R1 www 2 Veu

Let A a a B a ay a C a 2a find a A B X C b A x B C c AX BX C d A x B X CLet A a a B a ay a C a 2a find a A B X C b A x B C c AX BX C d A x B X C

Use nodal Analysis to find the following Given V2145 Volt V3102 Volt V499 VoltV5144 Volt R5175 KQ R624 k R775 kn R8285 km V2 Rs ww a Voltage at Node A in V is 1 M b Current flowing through R5 in mA is c Current flowing through R6 in mA is d Current

Write a set of phasor node voltage equations in matrix form to find V V2 V3 and V4 You must eliminate the control variable from your equations Do not solve 1090 V 5 20 A 16 19 j2 92 m 4 4V j8Q2 HH 4 492

A circuit in the inverting amplifier configuration is shown below Derive the transfer function VoVin If R32k2 R107k2 R3RR and C36F what is the 3dB frequency of the pole created by this circuit Enter answer in Hz eg 10Hz is entered as 10 R V in C R

Suppose the voltage v2 as shown in Fig is to be designed such that over a certain temperature range V2 is numerically approximately linearly proportional to the thermistors resistance Rth with approximation accuracy being within 90 It is known that

In the circuit shown in Figure 2 above 41 42 43 44 The number of Mesh circuits is Develop the Mesh equation for loop h Develop the Mesh equation for loop 12 Develop the Mesh equation for loop 13 1 1002 E 15V T 1 R2 2200 R3 4700 12 R4 3302

For the given circuit if you connect voltmeter in place of RLOAD it creates in that location Choose the right response from the below list of possible answers and then type it in Vb R1 ww a Short circuit b Open circuit c No effect RLOAD R2 ww Va

The following data relate to a firm; earnings per share $ 10, capitalization rate 10 percent, retention ratio 40 percent. Determine the price per share under Walter's and Gorden's model if the internal rate of return is 15 percent, 10 percent and 5

Below you will find information regarding all sales and purchases of inventories made by Pioneer Ltd during January 2011: On January 4th, Pioneer purchased inventories on credit for 30,000. On January 14th, Pioneer made cash sales of 34,000. On

4 What is the carrying value of the bonds at the end of the second period third number Premium 5791301 Carrying value bonds 43291301 Face Rate Market Rate Semiannual payments 14 10

The following information is about Forten company: Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $22,125 (details in b ). b.Sold equipment costing $97,875,with accumulated depreciation of

VITTLE VERE Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses excluding depreciation 149400 37750 Depreciation expense Other gains losses Loss on sale of equipment Income before taxes

Record entries for the following transactions for the companys current year November 1 Purchased debt investments as trading securities at a cost of 150000 This is the companys first and only purchase of such securities December 5 Sold a portion of

2 Pet Products Company uses an automated process to manufacture its pet replica products For June the company had the following activities Beginning work in process inventory Units placed in production Units completed Ending work in process

Alpha Co paid $180,000 to purchase a piece of land on which to build a new building. Additional costs incurred were: real estate broker commission $10800 legal fess of purchasing$1400 landscaping expenses $6000 expense to demolish old house located

The Pottery Co has recently undertaken their year end inventory inspection. During the inspection some items were discovered which had been damaged. A vase which had originally cost 182 and would have sold for 465 will now have to be discounted and

What is the market for corporate takeovers and how would its existence encourage organisations to make accounting disclosures even in the absence of regulation?

In each of the cases below assume Division X has a product that can be sold either to outside customers or to Division Y of the same company for use in its production process The managers of the divisions are evaluated based on their divisional

The following cost data pertains to Crazy Cow Corp. for December 31st, 2022: Ending Raw Materials Inventory: $160,000 Beginning Work-in-Process: $40,000 Ending Work-in-Process: $20,000 Direct Materials Used: $100,000 Direct Costs Incurred in

The accounting records of EZ Company provided the data below: Net income $ 55,700 Depreciation expense 9,700 Increase in inventory 2,850 Decrease in salaries payable 1,910 Decrease in accounts receivable 3,800 Amortization of patent 710 Amortization

On January 1, 2024, Wildhorse Co. issued eight-year bonds with a face value of $6000000 and a stated interest rate of 4%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are: Present value of 1 for 8

Explain why partnerships and S corporations are considered pass-through entities, and present an example of how the pass-through works.

a. Provide the journal entry to record the share repurchase transaction. b. Provide the journal entry that would have been required if Pharoah had paid $9.00 per share when the shares were repurchased.

Pharoah Ltd which has a December 31 year end had the following shareholders equity account balances as at December 31 2024 Common shares 1018000 shares issued and outstanding Retained earnings 12216000 5228000 On January 22 2025 Pharoah Ltd

Selling and administrative costs are typically: a. Variable. b. Mixed. c. Impossible to classify. d. Fixed.

Sheila died on 6 June 2023 leaving an estate valued at 950,000. Her will directed that a specific legacy of her painting collection, valued at 410,000, should be left to her son, with the residue of her estate being left to her husband. Sheila had

Cornell Company purchased equipment on January 1 2023 for 160000 They anticipated the equipment would last 8 years and have a residual value of 40000 The equipment will produce 2000000 units of product The company produced 240000 units in 2023 and

Required: Prepare a contribution format segmented income statement for the Leather Division, with segments defined as product lines.

Severo SA of Sao Paulo Brazil is organized into two divisions The companys contribution format segmented income statement in terms of the Brazilian currency the real R for last month is given below Sales Variable expenses Contribution margin

The following information available from Special Hours Co for 2019 Ordinary shares capital 300000 shares Preferred shares 6 20000 shares cumulative convertible to ordinary shares 1 to 10 Bonds 10 4000 bonds convertible to ordinary shares by 1 to 50

Nordic Exports Inc. reported net income of $150,000 for 2015, but its cash balance decreased$40,000. Which financial statement should Nordic Exports management refer to for an explanation of this situation? a. Balance Sheet b. Income Statement c.

ACCT 400 Advanced Accounting Financial Statement Analysis Project To complete this project, you will need to find online the 2022 annual reports of Walmart and Target, one of Walmarts competitors. Please download this assignment file and answer the

For the openloop system Gs 3s22s 3 assume there is a feedback with a proportional gain K And sketch a locus of closedloop roots verse K What is the minimum value of K to achieve a stable system

Find the shear force bending moment when and RA and KB RB P 7kN 18m FA 7m 23 P 7KM and CHP RR

Consider pn junction diode is doped with NA corresponding to 1 acceptor atom per germanium atoms Calculate the barrier potential VB at room temperature Assume ND 10NA 108

For the circuit shown below the capacitor voltage and inductor current at t 0 are 0 V and 0 A respectively Use the sdomain method to find the constants a b c d and a where e 3000 in the following expression of Vo asb Vos csdste s V10tut V Answer

For the logic function FABCD Em01256791011131415 draw a 4variable Karnaugh map Instead of ploting the cells with 1s fill the corresponding cells with their minterm notations such as m0 m1 m2 etc

1 If the noload output voltage of a regulator is 245V and the fullload output is 239V what is the percent load regulation 2 marks 2 A fullwave rectifier produces an 75V peak rectified voltage from a 50Hz ac source If a 12 muF filter capacitor is

You are required to submit a report that explains with a sufficient level of detail how the results are obtained Also you need to submit your codes if any Everything should be submitted on BB in a single zipped file Data Consider the following fuel

Transistors can be used in switching applications When used as an electronic switch a BJT is normally operated alternately in cutoff and saturation VINO RB www Vcc 10 V Rc 10 VOUT Using the transistor switch circuit above i Determine VCE when VIN

Design a regulated power supply at 15VDC output from a 240V AC 50Hz supply Assume the transformer has a turns ratio of 121 and a load resistance of 33002 The filter capacitor is to produce 15 ripple factor for the full wave rectifier Draw the

Using the full adder already designed as a block design an 8bit ripple carry adder a Add 3 splitters to circuit Each splitter should have an input width of 8 bits and a fan out of 8 b Attach two eastfacing splitters to the 8bit inputs A and B c

Vil R C C L0 WH R C3 L I V Hs k IObtain and write down the Transfer function HsVss Try to simplify the equation by joining parameters together and naming them eg A B CZ Compare and confirm the transfer function by showing the plots of LTSpice and

Drive an equation for linear signal conditioning that will convert the sensor output in the spanning the range 1V to 4V into a 0V to 7V span a Design a zerospan circuit to do the corresponding transformation b If there is a 8bit ADC AnalogDigital

An ideal singlephase 1 kVA 480220 V stepdown transformer have the open and shorttest circuit tests performed and the result is the following Opencircuit test OCT Secondary side Voc 220 V Loc05 A Pa 35 W Shortcircuit test SCT Secondary side V 18 V

Consider the following data sequence of length six x0 0 x1 1 x2 0 x3 1 x4 0 x5 1 Compute the windowed sequence xw n using the a triangular window function b Hamming window function c Hanning window function

Plot Vot if Vint10sin 200t Assume ideal diode Assume capacitor is initially discharged Vin t VD t N

A coil connected to a 300V 50Hz sinusoidal supply takes a current of 12A at a phase angle of 40 Calculate the inductance of the coil

Find the even and odd parts of a discretetime signal below 1 n 20 xn 0 n 0 xn 1 3 2 1 0 1 2 3 11

25 cm We intend to acquire a magnetic resonance image of the object illustrated below Assume infinite slew rate gradient pulses a Assume you are selecting a slice in the zdirection Which direction would you choose for phase encoding and why 2pts b

For the following circuit aDetermine for which connection A or B the circuit oscillates b Find the frequency of oscillation co c Find the value of gmRthat will guarantee oscillations R

On July 1, 2022, Kent Corporation Company sold goods to Smooze Company for $800,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of $1,221,163. The goods have an inventory cost on Kent Corporation books of $620,000. Record

Lina contributes 2000 to her childs RESP during the year How much may Lina deduct for that contribution O a 2000 O b 400 O c 1400 O d 0

On January 1 Year 1 Solis Co issued its 10 bonds in the face amount of 8000000 which mature on January 1 Year 10 The bonds were issued for 9080000 to yield 8 resulting in bond premium of 1080000 Solis uses the effectiveinterest method of amortizing

Elaborate Cash Budget and discuss its importance for an organization?

An industrial firm has two electrical loads connected in parallel across the power source Power is supplied to the firm at 4000 V rms One load is 30 kW of heating use resistive and the other load is a set of motors that together operate as a load at

If A 4 and w 4 rads in the circuit below what is the steadystate amplitude in volts of the voltage across the load resistor

The circuit in Figure P 11512 consists of a source connected to a load The complex power delivered by the source to the load is S 661 j198 VA a Draw the circuit in the frequency domain b Calculate the circuit current I by expressing the current in

In providing accounting services to small businesses you encounter the following situations Sheffield Corporation rings up cash sales and sales taxes separately on its cash register On April 10 the register totals are pretax sales of sales 5100 plus

Business Services Ltds year end is 31 December On 1 July 20X1 they purchased a machine at a cost of 67014 At the time they estimated that the machine had a useful life of 9 years and no residual value On 1 January 20X5 Business Services Ltd sold the

Organa Company has a defined benefit pension plan The following information is available at year end sheet Projected benefit obligation 1345000 Accumulated benefit obligation 1085000 995000 OO Vested benefit obligation Fair value of plan assets

The following transactions 1 through 6 relate to fixed assets 1 Purchased land and building for 157800 cash The purchaser also agrees to pay 1800 for taxes already assessed The purchaser borrows 100000 at 15 interest principal and interest due in

A company had the following transactions relating to stock investments with insignificant influence during the year This is the first and only time the company purchased such securities May 4 Purchased 840 shares of Lobe Company stock at 130 per

Oxford Co has a materials standard of 21 pounds per unit of output Each pound has a standard price of 16 per pound During February Oxford Co paid 57800 for 4910 pounds which were used to produce 2450 units What is the direct materials quantity

A purchases budget estimates merchandise purchases given current inventory and expected demand over the coming period. Discuss?

Journalize above Transactions

Ivanhoe Restaurant Supply Company had the following transactions 1 Issued 4300 shares of 100 par preferred stock at 107 per share for cash Issued 7300 shares of common stock with a par value of 10 per share for 109500 Purchased 430 shares of

Discuss the term Portfolio Diversification along with its pros and cons?

A temperature sensor exhibits firstorder time response with a time constant of 2 seconds Temperature changes suddenly from 40 to 70 at t0 a What is the sensor output at t1s b At what time will the sensorindicated temperature be 55

23675 million 21604 million 23480 million 15880 millionOn June 1 2023 a company began construction of a new manufacturing plant The plant was completed on October 31 2024 Expenditures on the project were as follows in millions July 1 2023 October 1

Following are descriptions of land purchases in four separate cases 1 At the midpoint of the current year a 40000 check is given for land and the buyer assumes the liability for unpaid taxes in arrears of 1000 at the end of last year and those

When reconciling original documents with entries in the ledger, the auditor obtains evidence for the conclusion regarding which audit objective: a.Existence. b.Accuracy. c.Completeness. d. Presentation and disclosure.

A person travels frequently and needs to purchase a special laptop computer costing $17,000. If the discount rate is 11.9% and the term is 137 days, find the maturity value (face value) of the loan she will be applying for. Use the formula

A company issues 640 bonds paying interest semiannually Face value 1000 5year bonds Face Rate 14 Market Rate 16 Cash proceeds from the sale of the bonds was 59705548 What is the carrying value after the second periodA company issues 640 bonds

Outdoors Ltd has closing inventory valued at 53000 Included in this value are 23 food packs costing 59 each which are out of date and now cannot be sold Also included are 17 tents at a cost of 258 each with a selling price of 470 These are now old

On January 1 Novak Corp had 62000 shares of nopar common stock issued and outstanding The stock has a stated value of 4 per share During the year the following transactions occurred Apr 1 June 15 July 10 Dec 1 Dec 15 Issued 13950 additional shares

Consider the following transmission line 20 V 200 a Find the incident power on the line b Find the incident power on the load c Find the reflected power of the line d Find the reflected power of the load e Find the power dissipated in the line l

An RLC circuit is shown in Figure P 1131 Find the instantaneous power delivered to the inductor when i 1 cos cot A and 6283 rads is Figure P 1131 20 10 mH 10 F

Rashad meets with his company's accountant to discuss the budget of anticipated and actual expenses for each segment of the organization. This involves review of which type of budget? a. Capital budget b. Expense budget c. Nonfinancial budget d.

Time units for most commercial payers are reported in increments of how many minutes? 1 minute 7.5 minutes 30 minutes 15 minutes

A meat and fish product company is registered with WSIB. Its payroll is $2,000,000, and its WSIB premium rate is $ 2.12 in 2023. How much did the company need to pay for its WSIB premium in 2023? $42,400 $4,240 $424 $ 424,000

According to IAS 19, employee benefits are recognized a. at the end of each pay period after the employees have rendered service. b. when employees receive their salaries. c. at the beginning of each work pay period. d. Any of these depending on the

In accrual accounting , the effects of business transactions are A ignored in preparing financial statements B reflected on no more than one individual financial statement C recorded when the economic effect occurs D recorded only when cash flows

When creating a new record that is almost identical to an existing record, it is best to a. copy the entire existing record and then make the necessary changes. b. copy only the parts of the existing record that will remain the same in the new