Financial Accounting
168450 questions • Page 344 / 3369
A business machine, which cost $10,000 two years ago, was sold on January 1, thi
A business machine, which cost $10,000 two years ago, was sold on January 1, this year, for $19,000. Depreciation was as follows for the calendar-year taxpayer: Actual Depreciatio…
A business makes a provision for doubtful debts equal to 5% of its trade receiva
A business makes a provision for doubtful debts equal to 5% of its trade receivables. At 31 March 2012, net trade receivables were shown in the Statement of Financial position as …
A business makes one product that passes through a single process. This business
A business makes one product that passes through a single process. This business uses weighted average costing. The details of the process for the last period are as follows Mater…
A business makes one product that passes through a single process. This business
A business makes one product that passes through a single process. This business uses weighted average costing. The details of the process for the last period are as follows; Mate…
A business operated at 100% capacity during its first month and incurred the fol
A business operated at 100% capacity during its first month and incurred the following costs: production costs (10,000 units) direct materials 80,000 direct labor 120,000 variable…
A business operated at 100% of capacity dunng its first month, with the followin
A business operated at 100% of capacity dunng its first month, with the following results: Sales (115 units) Production costs (144 units): $667,000 Direct materials Direct lat Var…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: Production (10,000 units) Direct materials 140,000 Direct labor 40,000 variable fa…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (10,000 units): Direct Materials $140,000 Direct Labor 40,000 Var…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: Production costs(10,000 units) 140,000 Direct materials 40,000 Direct labor 20,000…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (20,300 units): ? ? ? Direct materials $174,200 ? ? ? Direct labo…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (10,000 units): Direct materials $140,000 Direct labor 40,000 Var…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,800 units remain unsold at the end of the month and sales total $1,101,000 fo…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,700 units remain unsold at the end of the month and sales total $1,046,000 fo…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,600 units remain unsold at the end of the month, what is the amount of invent…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,900 units remain unsold at the end of the month, what is the amount of invent…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,900 units remain unsold at the end of the month, what is the amount of invent…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,500 units remain unsold at the end of the month, what is the amount of invent…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,800 units remain unsold at the end of the month, what is the amount of invent…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: If 1,800 units remain unsold at the end of the month and sales total $1,023,000 fo…
A business operated at 100% of capacity during its first month and incurred the
A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (10,000 units): Direct materials $140,000 Direct labor 40,000 Var…
A business operated at 100% of capacity during its first month, with the followi
A business operated at 100% of capacity during its first month, with the following results: Sales (90 units) $90,000 Production costs (100 units): Direct materials $40…
A business operated at 100% of capacity during its first month, with the followi
A business operated at 100% of capacity during its first month, with the following results: What is the amount of the income from operations that would be reported on the absorpti…
A business operated at 100% of capacity during its first month, with the followi
A business operated at 100% of capacity during its first month, with the following results: Sales (120 units) Production costs (150 units): $600,000 Direct materials Direct labor …
A business operated at 100% of capacity during its first month, with the followi
A business operated at 100% of capacity during its first month, with the following results: Sales (97 units) $5,335 Production costs (121 units): Direct materials $739 Direct labo…
A business orders sunglasses with a happy smiles on the arms and sells them for
A business orders sunglasses with a happy smiles on the arms and sells them for $50 each. During a typical month, 900 sunglasses are sold. It costs $25 to place an order and 25 pe…
A business owns (purchased) cows. How should the corporation record the cows, ar
A business owns (purchased) cows. How should the corporation record the cows, are they assets to the corporation ? if so, what type of assets to be classified as ? (i.e. inventory…
A business owns (purchased) cows. How should the corporation record the cows, ar
A business owns (purchased) cows. How should the corporation record the cows, are they assets to the corporation ? if so, what type of assets to be classified as ? (i.e. inventory…
A business pays off a note payable. What effect does this have on the accounting
A business pays off a note payable. What effect does this have on the accounting equation? Assets go up, Liabilities go down, and Stockholders' Equity remains the same. Assets go …
A business provides its employees with varying amounts of vacation per year, dep
A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year’s vacation pay is $61,…
A business purchase equipment by paying cash of $8,000 and issuing a note payabl
A business purchase equipment by paying cash of $8,000 and issuing a note payable of $12,000. Which of the following occurs? Cash is credited for $8,000; Equipment is credited for…
A business purchased supplies for cash. The business will decrease its Cash acco
A business purchased supplies for cash. The business will decrease its Cash account and: increase its Supplies account. decrease its Supplies account. increase its Supplies Payabl…
A business received an offer from an exporter for 20,000 units of product at $15
A business received an offer from an exporter for 20,000 units of product at $15per unit. The acceptance of the offer will not affect normal production or domestic sales prices. T…
A business received an offer from an exporter for 25,354 units of product at $16
A business received an offer from an exporter for 25,354 units of product at $16.00 per unit. The acceptance of the offer will not affect normal production or domestic sales price…
A business received an offer from an exporter for5,000 units of product at $8 pe
A business received an offer from an exporter for5,000 units of product at $8 per unit. The acceptance of the offerwill not affect normal production or domestic sales prices. Thef…
A business sells products for rich demand is highly seasonal A business sells pr
A business sells products for rich demand is highly seasonal A business sells products for rich demand is highly seasonal Directions: Use the information below to answer the follo…
A business which enters into a contract to purchase a product which compensates
A business which enters into a contract to purchase a product which compensates the manufacturer under a cost reimbursement agreement should take an active part in the determinati…
A calcium carbide plant is reported to have the following economic investment da
A calcium carbide plant is reported to have the following economic investment data: Total capital investment--$ 8,600,000 Working capital Plant service life = $ 600,000 = 10 years…
A calendar year S corporation reports an ordinary loss of $80,000 and a capital
A calendar year S corporation reports an ordinary loss of $80,000 and a capital loss of $20,000. Mei Freiberg owns 30% of the corporate stock and has a $24,000 basis in her stock.…
A calendar year company paid $24,000 on October 1, 2012 to purchase two years of
A calendar year company paid $24,000 on October 1, 2012 to purchase two years of insurance coverage for its retail shop. The prepayment was initially recorded as an asset. A.) Wha…
A calendar year company plans to pay its December gas bill in January. As of Dec
A calendar year company plans to pay its December gas bill in January. As of December 31, no adjusting entry has been recorded. As a result, the balance sheet is accurate, but the…
A calendar year corporation has an election under Subchapter S. What will be the
A calendar year corporation has an election under Subchapter S. What will be the effect, if any, of the fllowing event on its S status? a. The board of directors of the corporatio…
A calendar year corporation, placed the following assets into service this year,
A calendar year corporation, placed the following assets into service this year, 2015: Intital Recovery …
A candy bar manufacturer is interested in trying to estimate how sales are influ
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses six small cities and …
A candy company makes Chocolate and Peanut clusters which produced the following
A candy company makes Chocolate and Peanut clusters which produced the following results last year. Chocolate Peanut Total Sales $500,000 $600,000 $1,100,000 Variable costs 420,00…
A capital (or finance) lease and operating lease are recorded differently on the
A capital (or finance) lease and operating lease are recorded differently on the balance sheet, but their effect on the income statement is the same." Do you agree? Explain. A. No…
A capital investment has a net present value of $1,000.00 at a required rate of
A capital investment has a net present value of $1,000.00 at a required rate of return of 10%. At a 12% required rate of return, the net present value of the investment is $100.00…
A car dealer acquires a used car for $14,000,terms FOB shipping point. Additiona
A car dealer acquires a used car for $14,000,terms FOB shipping point. Additional costs in obtaining andoffering the car for sale include $250 for transportation-in, $900for impor…
A car dealer is offering to a buyer one of two incentives: zero percent financin
A car dealer is offering to a buyer one of two incentives: zero percent financing or $3,000 cash back. If the car price (before the incentives) is $25,000, find the following to c…
A car manufacturer purchases $5,000 in tires (for cash) from a tire plant. When
A car manufacturer purchases $5,000 in tires (for cash) from a tire plant. When would a tire plant be able to record revenues from this sale? As soon as the car manufacturer puts …
A car rental agency has bought three economy-size, four medium-size, and two ful
A car rental agency has bought three economy-size, four medium-size, and two full-size cars; see Table 11-25. Using composite depreciation, compute the annual straight-line deprec…
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Financial Accounting
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