FREE Trial S
  1. study help categories
  2. business
  3. accounting qa by year and month

Top Selling Accounting Questions

Your IT audit team has documented the following observations at Egencia from the IT General Control walkthrough: The applications programmer migrates the code to the system's test region. A second... Pedro and Lucy started to create a budget (based on last years income and expense statement) but got stuck. They know that you have learned how to create budgets and are asking for your help. They... Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The companys balance sheet as of June 30th is shown below: Beech Corporation... Which types of advisory services can be classified as a "pair of hands" role where you closely follow the clients instructions and are paid for effort? An online store sells a product for which the daily demand is normally distributed with a mean of 120 units and with a standard deviation of 10 units. We assume the source of supply has a constant... The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 10, had the following normal balances. Cash $ 93,380 Petty cash 100 Accounts receivable 21,390 Allowance for... Faye Bhd holds 80% of 100,000,000 ordinary shares (issued at RM 1 each) of Khush Bhd. Kiut Bhd and Sweet Bhd, two other investors, each holds 10% of the remaining shares. On 1 April 2021, Faye Bhd... Steve Reese is a well-known interior designer in Fort Worth, Texas. He wants to start his own business and convinces Rob ODonnell, a local merchant, to contribute the capital to form a partnership.... MILK-VITA DAIRY FIRM LTD Milk-Vita Dairy Firm Ltd. (Milk-Vita) is a medium-sized dairy operating in Atlantic Canada. The companys founder, Frank Morgan, owns 60 percent of the shares. Four private... Big Guy Inc. purchased 80% of the outstanding voting shares of Humble Corp. for $360,000 on July 1, 2017. On that date, Humble Corp. had common shares and retained earnings worth $180,000 and... Johnson, an ICAEW Chartered Accountant working as a sole practitioner, acts for Sue, completing her income tax returns. Johnson has recently seen information proving that, on her last two tax... Analyze the advantages and the disadvantages of each of the three options that Carlos Vega has identified. Expand the current location by adding a second story Move to a larger location down the... Edmund and Lydia Stefanek of Little Rock, Arkansas, are using Excel to track their family budget to determine whether they can afford the monthly loan payments that would come with the purchase of a... The payroll register for Automotive Service Center for the pay period ended June 30, 20--, showed the following: Total Earnings Taxable Earnings: FUTA $623,000.00 4,500.00 4,500.00 574,000.00 SUTA... The Heinrich Company manufactures two types of plastic hanger racks (Foldaways and Straightaways) especially suited for mounting near clothes dryers. Because permanent press clothing must be hung on... Scroll down to complete all parts of this task. Ember Corp. purchases 20,000 shares (15%) of Stanton Industries at a price of $31/share and pays legal fees of $35,000 for the acquisition. The... Pertain to the financial data of Anycorp, Inc., which recently hired you as Controller. Anycorp has been experiencing rapid growth and is negotiating with EasyBank for a new larger line of credit.... A senior executive of a public sector company recently quit his job under the VRS with a hefty packet of INR 1 Crore. Ms. Dhana-chor Chit Fund Company has offered the following investment scheme for... Moravanti Italian Imports has four employees and pays biweekly. Assume that box 2 is not checked for L. Torabi and R. Beninati and is checked for G. Fisher and J. Tillman. Required: Complete the W-4... 48. A program design should include programs for muscular strength (reps from 12-15), muscular hypertrophy (3-6) and muscular endurance (1-6) True False 49. The similarity between the Macrocycle... Acme 3-D Printing Co. custom produces products for customers by using computerized 3D printing. An employee (clerk) at Acme takes orders from customers, each order contains the specifications for one... ABC Inc. entered into an agreement with a customer on April 1 to provide accounting services starting immediately. ABC Inc. charges $900 a month for these services, and the customer agrees to pay ABC... On 1 January 20X4, Dart Incorporated commenced business operations. The following information is available to you: 20X6 $45, 000 20X4 20X5 20X7 $ (300, 000) Earnings (loss) before tax Tax rate... Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business, Karane has acquired various types of assets. Below... A. Which one of the following deductions is available under S25-5 ITAA97 (Tax related expenses) Choose the best answer! a. Payment of Income Tax b. Fees paid to a tax agent to do a Tax Return c. Fees... A randomized controlled trial comparing two drugs for treating insomnia is said to have 85% power to detect a 20% relative reduction (RR=0.80) in sleep problems nine months following treatment at the... Sonya Jared opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,000, Accounts payable $1,500, Supplies $500, Equipment $6,000, Accounts payable $4,200, and Owners... The JMR Company is a family business that currently uses no debt in its capital structure. The owner-managers agreed on a plan to issue a large amount of debt to expand the company's operations.... The trustees of the Ketzel Park Special Revenue Fund approved the following budget for calendar year 2019: Transactions and events for calendar year 2019 were as follows: 1. Recorded the approved... Warner, Inc. is a c-corp which purchased and placed in service land, building and equipment which were then sold several years later. Compute the after tax proceeds from the sale given the following:... You have been asked to prepare the financial statements for Computer Solutions for the year ended December 31, 2021. The following additional facts are collected for use in making adjusting entries... Dogge Inc. provides vacation lodging services to both family and senior citizen customers. Yearly demand for overnight lodging services, Q, are as follows: Family P F = $40 - $0.0004Q F Senior... 1 Part 1 of 41 3 points eBook References Graw H Required information Internal Analysis: Looking Inside the Firm of Honda Corp. The strategic actions managers take link firm resources and... Shah Ltd (Shah) manufactures a single product, the Choco. The budgeted sales price and production cost per unit of the Choco is as follows: Selling price 360 Variable materials 50 Variable labour 40... Fracto Inc. is a Canadian controlled private corporation with a December 31 year end. For the taxation year ending December 31, 2019, its Net Income For Tax Purposes was made up of the following... On 01 February 2017, Paul Ltd acquired 720,000 ordinary shares of Sam Ltd and as a result Paul Ltd holds 80% shares in Sam Ltd. The purchase consideration was as follows: Cash paid $ 550,000 A... Patty Banyan is a single taxpayer, age 27 (birthdate May 18, 1992) living at 543 Space Drive, Houston, TX 77099. Her Social Security number is 466-33-1234. For 2019, Patty has no dependents, and... You have just arrived in a new city and would like to see its sights. Each sight is located in a square and you have assigned each a beauty value. Each road to a square takes an amount of time to... Your client, InsureCorp, is an insurance company considering launching an 'income insur- ance product in the island nation of Autarka. Income insurance is a product that fully insures a household... Starfax, Inc., manufactures a small part that is widely used in various electronic products such as home computers. Results for the first three years of operations were as follows (absorption costing... 1.Identify the three countries with the most favorable collection experience as measured by their receivables turnover ratios. RTR US = RTR Saudi Arabia = RTR UK = 2. Which country appears to have... Gulf Uniform Supply, Inc. (GUS), a merchandising business, is organized as a corporation. The business sells a complete line of uniforms for a variety of businesses and organizations, including... Gopher Gulch Corp. is a little two-store retailer operating in a local market. Its problem is that one store in the company is losing money while the other one is making money, based on company... Prepare T-accounts and a trial balance for the following transactions in the books of 'Mary Ward' for December. 1 Dec Introduced a motor vehicle to the new business worth 18,500 1 Dec Transferred a... Reporting Pension Contributions and Adjustments The following are some general year-end reporting guidelines employers should follow when reporting pension contributions and pension adjustments... Adjustments to be effected on 28 February 2019 The following was found as per physical count 1.1). Trading Stock RB0 300 1.2). Packing Material R700 2). Depreciate equipment at 10 % p.a on the... You are an investor who is considering adding Chem-Med to your portfolio. As such, you are interested in the company's record of profitability, prospects for the future, degree of risk, and how it... Dwight Donovan, the president of Rundle Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase... Markowis Corporation sells three different models of mosquito zapper. Model A12 sells for $50 and has variable costs of $40. Model B22 sells for $100 and has variable costs of $70. Model C124 sells... This mini-case takes us back to b-school grads Sally and Dave. Youll perhaps recall from Previous that theyre thinking of buying a condo which will cost $100,000. In Chapter 4, Sally and Dave were... Prepare worksheet entries and post to the worksheet for the following items. Identify each adjustment by the letter used in the problem: A). Record the January 1, 2015 balances of general fixed... Brookes Books is a retail book store. The company is owned by Brooke Riley, the only shareholder (to be). Brooke has asked you to keep the records for the store and to prepare its financial... Prepare a Consolidated Balance Sheet for Big Lake Bakeries which owns 100% of Marble Falls Orchards. The fair value of Marble Falls net fixed assets are $2,675,000. Big Lake aquired 100% of Marble... Whereas, MCPS Manufacturing costs of products sold NPMC Non-Product Manufacturing costs MCFP Manufacturing cost of the production This is the complete question. There is no additional information... The information listed below refers to the employees of Brennan Company for the year ended December 31, 2013. The wages are separated into the quarters in which they were paid to the individual... You are an Analyst for the professional service firm, BUSI 1043 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. It is your first day on... There are three bonds in the market as follows: 1. A bond with 4% coupon rate (paid annually), 10 years to maturity, and $1,000 face value 2. A bond with 4% plus current (short) rate (paid annually),... Assumptions: AR advance rate 85% Inventory advance rates: raw material 25%, finished goods 50% Ineligible AR consists of invoices aged over 90 days Company has terms with vendors no cash is due to... From the perspective of a bureaucrat, which government accounting method is more feasible for each revenue source? Cash Basis, Modified Accrual or Full Accrual. Explain your response. The key to your... 3. In column G, Brett wants to calculate the number of days the invoice is overdue. If the age of the invoice is greater than 30 days, it is overdue. Calculate the days overdue as follows: a. b. C.... An asset is worth $10,000. The likelihood of an attack is once every two years with an expected impact of 80% damage. The risk acceptance level is $2000. A control that would reduce the risk to $1000... Davy Company is developing a cost function to estimate the manufacturing overhead rate for next year. You are the management accountant in charge of this project. You have discussed possible cost... Two transfer pricing principles exist in Company A: Markdown: selling price is the reference, The transfer price is set in a way to leave a target margin in the selling entity Cost-plus: Cost of... The audit firm of DCG, LLP is performing an audit of Argo Co., a publicly traded company, for the year ending December 31, 2014. You have been given the assignment of assisting in the planning... The Taylor Corporation is using a machine that originally cost $66,000. The machine has a book value of $66,000 and a current market value of $40,000. The asset is in the Class 5 CCA pool that allows... Santana Rey created Business Solutions on October 1, 2016. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up... Selected financial data for Amberjack Corporation follows. Sales Cost of goods sold Net income Cash flow from operations Cash Marketable securities Accounts receivable Inventories Total current... Prepare journal entries, as appropriate, to record these transactions. (We suggest you post the journal entries to general ledger T-accounts.) Note: The Croton City continuing problem is introduced... Perform a Net Present Value Analysis for a Project Learning outcome: Student is able to apply NPV analysis to project decisions. Assume a student is planning to pursue a two year masters degree in... Sgt. Barnes is a veteran police officer filing as Head of Household. Currently, her taxable income is $50,000, but has been asked to sit for the Leutenant's exam. She is excited about the opportunity... Work these problems relating to after-tax cash flow (ATCF) computations: 1. Compute the present value after-tax cost ("PVATC") of a $9,500,000 purchase of equipment on January 1 that your corporate... Assume a parent company acquires its subsidiary by paying $1,200,000 for all of the outstanding voting shares of the investee. On the acquisition date, subsidiary's assets and liabilities have... Part 4 Section 2: Mitigation of audit risk through use of the EY Helix Blockchain Analyzer for Public Networks 1. Identify if there are any example audit risks that might not be addressed by use of... Suppose that you are the new CEO at Memorial Hospital. Me- morial is a nonprofit hospital with 300 beds and is located in a busy metropolitan area directly adjacent to a large university. Memorial is... Apollo is uncertain of how he feels about Olga. He thinks she makes him happy, but he is not sure. Below is the joint distribution for whether Olga is around, X 1{Olga around}, and whether Apollo is... International Foods, a U.S. company, acquired two companies in 2013. As a result, its consolidated financial statements include the following acquired intangibles: Intangible Asset Date of... As the Budgeting Officer for Best Fit Ltd, you are required to calculate the budget variances for the financial year FY 202X. The data for the Performance Report is below: Items Sales Cost of sales... Rebecca and Thomas are married and file jointly for the 2020 tax year. They are both advertising consultants for the same company. They earned $85,000 in salaries in total and the company forgave a... The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Debits Credits Cash $26,300 17,100 Accounts Receivable Prepaid Insurance Land 15,400 165,000... Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint. Not all information given is needed for the solution. Finished goods inventory,... AccountantSea has recently increased its long-term borrowings to fund the acquisition of two new cruise ships. The bank approved the increase subject to a debt covenant of maintaining a debt-equity... SPG is a US MNC that has operations in Europe, the Middle East, and Africa. It has identified needs of leverage of USD24 million in 7 months for a six-month period. To lock in the rate on this loan,... The Bowerman Warehouse Corporation (BWC) is organized in Oregon and operates 15 retail and grocery stores in several of the western United States. BWC is owned by a small group of private equity... A client of Park Street's expected a delivery of samples for an event on Friday evening. The order was setup correctly by Park Street, however the vendor that was hired to pick up and deliver the... 1. This question is designed to develop your ability to find given legislative, administrative, and judicial tax law sources and apply them to a fact situation. Facts: Jessa Williams was hired three... Jack Uzi, wholesale toys online, operates out of his office in his parents apartment, with 0 inventory. Every toy he sells is first purchased then re-sold, but only after the order comes through. You... Last year Justice League Services purchased and installed a new X1600 Wall-E Super-Smasher used in compacting cars, SUVs, and small trucks into 2 cubic yards of compacted metal. The X-1600 Wall-E... Consider the decision problem of a representative household optimally choosing a sequence of consumption (c) and asset holdings (+1) over an infinite horizon, taking as given the real interest rate r... Subpump Limited is an active business corporation owned 100% by George Simpson, who has been attempting to sell the company for several years and have recently received an offer from a serious buyer.... A Project management company approached your IT company for a system to keep track of their projects. It is possible for an employee to work on more than one project. Each employee will have only one... Luke Corporation produces a variety of products, each within its own division. Last year, the managers at Luke developed and began marketing a new chewing gum, Bubbs, to sell in vending machines. The... The Katash Company is a leader in the poultry market. It produces, sells and markets fresh and ice packed commodity chicken and frozen products known for their value and healthful qualities. Katash's... Prestige International contacted the CPA firm of Teitel & Deiana to perform an audit of their financial statements. In arranging for the audit, Prestige International clearly indicated that they... You are a trainee accountant in your second year of training within a small practice. A more senior trainee has been on sick leave, and you are due to go on study leave. You have been told by your... 15 Dec A credit note to the amount of R17 298, was issued to Receivable Croock in respect of goods returned by Receivable Croock. The cost of the goods was R6 828. 18 Dec Snarl Entity returned some... Grainy Goodness Company manufactures granola cereal by a series of three processes, beginning materials such as cats, sweeteners, and nuts being introduced in the Mixing Department. From the Mixing... Suppose a researcher collects data on houses that have been sold in a particular neighborhood over the past year and obtains the regression results in the following table. Using the results in column... Oakley Wholesale Hardware and Supplies (OWHS) sells tools, lumber, and other remodeling supplies to commercial contractors. The company controller is compiling cash and other budget Information for... Euro Engineering Ltd manufactures three types of ceramic coffee percolator; the Metal, pink and the Zinc models. The maximum market demand and resource requirements of each of these products are... The City of Mall uses a June 30th year-end. On March 1, the City hired Frank Sears as its City Manager at an annual salary of $100,000. Frank-like all other employees earns 12 vacation days per year...
Showing 900 - 1000 of 4912