Financial Accounting

1) All of the following would be considered in evaluating product or sales mix a

1) All of the following would be considered in evaluating product or sales mix allocations,  except Select one: a. deciding which product offers the lowest contribution margin per…

1) Allocating the cost of longminuslived tangible assets used in the operations

1) Allocating the cost of longminuslived tangible assets used in the operations of a business is referred to as: A. depreciation B. using up the asset C. an accrual D. a deferral …

1) An American Company that sells consumer electronics products has manufacturin

1) An American Company that sells consumer electronics products has manufacturing facilities in Mexico, Taiwan, and Canada. The average hourly wage, output, and annual overhead co…

1) An employer-employee situation in which the contract is of an indefinite leng

1) An employer-employee situation in which the contract is of an indefinite length, and either the employer or the employee may terminate the employment for any reason or for no r…

1) An individual whose average three highest consecutive years of compensation i

1) An individual whose average three highest consecutive years of compensation is $130,000 will have a maximum benefit payable at retirement from their defined benefit pension pla…

1) An investment will pay $15,000 at the end of each year for eight years and a

1) An investment will pay $15,000 at the end of each year for eight years and a one-time payment of $120,000 at the end of the eighth year. (Use Table 1, Table 2) Determine the pr…

1) Angela has a monthly income of $120, which she spends on MP3s and a composite

1) Angela has a monthly income of $120, which she spends on MP3s and a composite good whose price is $1. Currently she doesn't belong to any MP3 club so she pays the retail price …

1) Answer part A and B based on these facts: You own a company that specializes

1) Answer part A and B based on these facts: You own a company that specializes in making ice cream in the State of New York. Recently the State government of Texas has created a …

1) As of January 1, 2018, Barley Co. had a credit balance of $520,000 in its all

1) As of January 1, 2018, Barley Co. had a credit balance of $520,000 in its allowance for uncollectible accounts. Based on experience, 2% of Farley's gross accounts receivable ha…

1) Assume Fong Sai-Yuk uses a periodic system. Prepare all necessary journal ent

1) Assume Fong Sai-Yuk uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indic…

1) Assume that C purchased 200 shares of stock X Corporation for $11,000 five ye

1) Assume that C purchased 200 shares of stock X Corporation for $11,000 five years ago and also purchased 100 shares of stock of X corporation for $1,000 three months ago. X Corp…

1) Assume that Cane expects to produce and sell 81,000 Alphas during the current

1)  Assume that Cane expects to produce and sell 81,000 Alphas during the current year. A supplier has offered to manufacture and deliver 81,000 Alphas to Cane for a price of $84 …

1) Assume that Cane expects to produce and sell 96,000 Alphas during the current

1)  Assume that Cane expects to produce and sell 96,000 Alphas during the current year. One of Cane's sales representatives has found a new customer who is willing to buy 11,000 a…

1) Assume that Cane’s customers would buy a maximum of 81,000 units of Alpha and

1)  Assume that Cane’s customers would buy a maximum of 81,000 units of Alpha and 61,000 units of Beta. Also assume that the company’s raw material available for production is lim…

1) Assume that in a country the total holdings of banks were as follows: Amount

1)    Assume that in a country the total holdings of banks were as follows: Amount in million dollars Required Reserve $45 Excess Reserve $15 Deposits $750 Loans $600 Treasury Bon…

1) Assume you have 8000 to deposit today. Roten Bank offers 12% per year compoun

1) Assume you have 8000 to deposit today. Roten Bank offers 12% per year compounded monthly (1% per month). Brooke Bank offers 12% compounded annually. How much will your investme…

1) Assuming Kenny died today, calculate his gross estate. A) $5,000,000 B) $5,50

1) Assuming Kenny died today, calculate his gross estate. A) $5,000,000 B) $5,500,000 C) $2,140,000 D) $6,731,840 2) Assuming Kenny died today, calculate his probate estate. A) $2…

1) At the end of the year, a company reports a balance in its Allowance for Unco

1) At the end of the year, a company reports a balance in its Allowance for Uncollectible Accounts of $2,000 (credit) before any year-end adjustment. The company estimates future …

1) BMX Company has one employee. FICA Social Security taxes are 6.2% of the firs

1) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA …

1) Balance sheet and income statement data indicate the following: Bonds payable

1) Balance sheet and income statement data indicate the following: Bonds payable, 10% (issued 1988 due 2012) $1,000,000 Preferred 5% stock, $100 par (no change during year) 300,00…

1) Based on above table, calculate Apple\' s allowance to gross receivables rati

1) Based on above table, calculate Apple' s allowance to gross receivables ratio for 2017 and 2016 2017 2016 2) Based on the above tables, Calculate the following growth rates bet…

1) Based on the following data, what is the quick ratio, rounded to one decimal

1) Based on the following data, what is the quick ratio, rounded to one decimal point? Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 20,000 I…

1) Based on the graph below identify the following: The profit maximizing output

1) Based on the graph below identify the following: The profit maximizing output is ["6 units", "5 units", "8 units"]    The monopoly price is ["$1,300", "$900", "$1000"]       Th…

1) Baxter Company, which pays a 12% commission to its salespeople, reported sale

1) Baxter Company, which pays a 12% commission to its salespeople, reported sales revenues of $280,000 for the period just ended. If fixed and variable sales expenses totaled $70,…

1) Because unemployment payments and welfare? payments, which reduce a? recessio

1) Because unemployment payments and welfare? payments, which reduce a? recession's severity, naturally increase during a? downturn, they are referred to as __________. A. Automat…

1) Beckowsik Company began business in June and completed the following transact

1) Beckowsik Company began business in June and completed the following transactions A) Received $50,000 cash and issued common stock to the stockholders B) Purchased supplies for…

1) Beech Soda Inc. uses a perpetual inventory system. The company\'s beginning i

1) Beech Soda Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:Quant…

1) Beech Soda Inc. uses a perpetual inventory system. The company\'s beginning i

1) Beech Soda Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were                 …

1) Beech Soda Inc. uses a perpetual inventory system. The company\'s beginning i

1) Beech Soda Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January                     w…

1) Beech Soda Inc. uses a perpetual inventory system. The company\'s beginning i

1) Beech Soda Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January                     w…

1) Before finding earth, the only foreign transactions the Endorians ever had wa

1) Before finding earth, the only foreign transactions the Endorians ever had was with the Vulcan’s. The Vulcan economy has always been very stable with little to no inflation, th…

1) Beginning WIP inventory is 900 units; completed and transferred out were 3,40

1) Beginning WIP inventory is 900 units; completed and transferred out were 3,400 units; and Ending WIP inventory is 800 units. What is the number of units started? Show calculati…

1) Below are selected T accounts from Bri Cheese Dairy with incomplete informati

1) Below are selected T accounts from Bri Cheese Dairy with incomplete information:                     Work in Process                 Oct. 1 Balance    20,000 | Oct. 31 Goods   …

1) Boston Railroad decided to use the high-low method and operating data from th

1) Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activi…

1) Brady Self Storage purchased land, paying $160,000 cash as a down payment and

1) Brady Self Storage purchased land, paying $160,000 cash as a down payment and signing a $195,000 note payable for the balance. Brady also had to pay delinquent property tax of …

1) Break-Even Sales BeerBev, Inc., reported the following operating information

1) Break-Even Sales BeerBev, Inc., reported the following operating information for a recent year: In addition, assume that BeerBev sold 51,000 barrels of beer during the year. As…

1) Brill Co. made the following expenditures during the current year: Costs to d

1)    Brill Co. made the following expenditures during the current year: Costs to develop computer software for use in Brill Brill Co. made the following expenditures during the c…

1) Bruno Corporation is involved in the business of injection molding of plastic

1) Bruno Corporation is involved in the business of injection molding of plastics. It is considering the purchase of a new computer-aided design and manufacturing machine for $443…

1) Bruno Corporation is involved in the business of injection molding of plastic

1) Bruno Corporation is involved in the business of injection molding of plastics. It is considering the purchase of a new computer-aided design and manufacturing machine for $443…

1) Budgetary slack is created when : A) When the difference between actual and b

1) Budgetary slack is created when:             A) When the difference between actual and budgeted amounts are accidental             B) When the difference between actual and bud…

1) Budgeted Income Statement Pendleton Company, a merchandising company, is deve

1) Budgeted Income Statement Pendleton Company, a merchandising company, is developing its master budget for 2015. The income statement for 2014 is as follows: The following are m…

1) Budgeted sales for Parker Corporation for the second quarter the year are sho

1) Budgeted sales for Parker Corporation for the second quarter the year are shown below: The company has a policy that requires the ending inventory in each period to be 15 perce…

1) Building 2) Accounts Payable 3) Mortgage Payable 4) Salary Expense 5) Unearne

1) Building 2) Accounts Payable 3) Mortgage Payable 4) Salary Expense 5) Unearned Rental Income 6) Accumulated Depreciation 7)Office Supplies 8) Service Revenue 9) Prepaid Insuran…

1) Business activities that either generate or use cash are classified as operat

1) Business activities that either generate or use cash are classified as operating, investing or financing activities on the statement of cash flow a) true b) false 2) Equipment …

1) Business reporting should exclude information outside of management\'s expert

1) Business reporting should exclude information outside of management's expertise or for which management is not the best source, such as information about competitors. 2) Manage…

1) Business reporting should exclude information outside of management\'s expert

1) Business reporting should exclude information outside of management's expertise or for which management is not the best source, such as information about competitors. 2) Manage…

1) CK Venkat Chemicals releases the following data related to direct labor costs

1) CK Venkat Chemicals releases the following data related to direct labor costs for February: Actual costs 7,700 hours at $13 Standard costs 7,000 hours at $9 Calculate the direc…

1) Calculate Q1 2016 Non-GAAP gross profit: 142,627 150,760 155,603 158,893 159,

1) Calculate Q1 2016 Non-GAAP gross profit: 142,627 150,760 155,603 158,893 159,623 2) Calculate Q1 2016 Non-GAAP EBITDA (apply all relevant SBC and nonrecurring adjustments to EB…

1) Calculate the inventory turnover using the following data for the current yea

1) Calculate the inventory turnover using the following data for the current year 2014 Net sales on account during 2014 $ 500,000 Cost of merchandise sold during 2014 330,000 Acco…

1) Calculate total contribution margin for both scenarios (ie. chairs and tables

1) Calculate total contribution margin for both scenarios (ie. chairs and tables) in the table below: making the tables first? or making the chairs first, up to total demand. 2)  …