Financial Accounting

1- Paper Company receives a $4,916, three-month, 6% promissory note from Dame Co

1- Paper Company receives a $4,916, three-month, 6% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receivi…

1- Perry acquired raw land as an investment 16 years ago. The land cost $50,000.

1- Perry acquired raw land as an investment 16 years ago. The land cost $50,000. In the current year, the land is sold for a total sales price of $120,000, consisting of $10,000 c…

1- Prepare the annual adjusting entries necessary on December 31. 2- What amount

1- Prepare the annual adjusting entries necessary on December 31. 2- What amounts should be shown for each of the following on the income statement for the year? The accounts list…

1- Professor Stoian writes a book. The demand for the book is P=20-Q. The margin

1- Professor Stoian writes a book. The demand for the book is P=20-Q. The marginal cost to make it and sell it is $2 per book. The total fixed cost is $10. If a unique price is ch…

1- Read the following siatuation:\" You are the assistant sales manager for Broa

1- Read the following siatuation:" You are the assistant sales manager for Broad-wide Films Corporation (BFC), 83 North Boulevard, Norwalk, CA 09701. a movie distribution company.…

1- Sensitivity analysis: A. is a quantitative method of evaluating a decision-ma

1-            Sensitivity analysis: A. is a quantitative method of evaluating a decision-maker's sensitivity to ethical situations. B is the process of changing the value of key v…

1- Simon Company\'s high and low level of activity last year was 60,000 units of

1- Simon Company's high and low level of activity last year was 60,000 units of product produced in May and 20,000 units produced in November. Machine maintenance costs were $52,0…

1- Singer and McMann are partners in a business. Singer\'s original capital was

1- Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to salaries of $12,000 and $18,000 for Singer and McMan…

1- Sol purchased land as an investment on January 12, 2010 for $85,000. On Janua

1- Sol purchased land as an investment on January 12, 2010 for $85,000. On January 31, 2016, Sol sold the land for $30,000 cash. In addition, the purchaser assumed the mortgage of…

1- Standard cost systems enable management to determine a. the difference betwee

1- Standard cost systems enable management to determine a. the difference between standard cost and actual cost. b. indirect labor costs. c. shipping and materials costs. d. accou…

1- Steve Corp bought a $600,000 apartment building in June of 2015. Of the purch

1- Steve Corp bought a $600,000 apartment building in June of 2015. Of the purchase price, $104,950 is allocated to the value of the land. What is the maximum amount of depreciati…

1- Suppose that Kristi is unsure about what to do with her life. Should she go t

1- Suppose that Kristi is unsure about what to do with her life. Should she go to graduate school now or wait until she decides what she wants to do? Select one: a. She should go …

1- The Affordable Care Act benefited health insurance companies by providing the

1- The Affordable Care Act benefited health insurance companies by providing them with more paying customers and new government subsidies. 2- Immigration reform efforts are compli…

1- The Dandy Jeans Company produces two different types of jeans. One is called

1- The Dandy Jeans Company produces two different types of jeans. One is called the "Simple Life" and the other is called the "Fancy Life" The company's Production Budget requires…

1- The Nandina Corporation was formed and began operations on July 1, 2016, and

1- The Nandina Corporation was formed and began operations on July 1, 2016, and incurred the following expenses during the year: If the corporation chooses not to expense but rath…

1- The establishment of uniform accounting standards in the United States arose

1-The establishment of uniform accounting standards in the United States arose in response to the need to: a*Return the trust within the market which had been lost due to false an…

1- The first step in preparing a flexible budget is to a. identify the fixed and

1- The first step in preparing a flexible budget is to a. identify the fixed and variable cost components. b. prepare the budget for each activity level by multiplying each variab…

1- The goal of systems design is to a. determine when to implement a system b. m

1- The goal of systems design is to a. determine when to implement a system b. meet user needs c. determine the size of the competitor's system d. make changes to the present syst…

1- The income statement for the year 2011 of Poole Co. contains the following in

1- The income statement for the year 2011 of Poole Co. contains the following information: Revenues $70,000 Expenses: Wages Expense $45,000 Rent Expense 12,000 Advertising Expense…

1- The master budget for a service enterprise A) will have the same types of bud

1- The master budget for a service enterprise A) will have the same types of budgets as a merchandiser B) may include a sales budget for sales revenue. C) will not include a budge…

1- The payment for the monthly rent will require the following entry Answer Debi

1- The payment for the monthly rent will require the following entry Answer Debit Cash and Debit Rent Expense Credit Cash and Credit Rent Expense Debit Rent Expense and Credit Cas…

1- The recording of wages earned but not yet paid is an example of an adjustment

1- The recording of wages earned but not yet paid is an example of an adjustment that Answer A. recognizes an accrued expense. B. apportions revenues between two or more periods. …

1- The requirement that only transaction data capable of being expressed in term

1- The requirement that only transaction data capable of being expressed in terms of money be included in the accounting records relates to the Answer A. cost principle. B. moneta…

1- Tomas and Saturn are partners who share income in the ratio of 3:1. Their cap

1- Tomas and Saturn are partners who share income in the ratio of 3:1. Their capital balances are $80,000 and $120,000, respectively. The partnership generated net income of $30,0…

1- Two classes exist in separate views as follows Customer (CustID, Name, PhoneN

1- Two classes exist in separate views as follows Customer (CustID, Name, PhoneNum) Customer (CustID, Name, EyeColor, Gender) Which attributes should be assigned to the merged Cus…

1- Use the information below for Darwin Company to answer the question that foll

1- Use the information below for Darwin Company to answer the question that follow. Darwin Company's product costs are 2- Which of the following is not a prime cost? a.machine ope…

1- Weber Company purchased a mining site for $627,458 on July 1. The company exp

1- Weber Company purchased a mining site for $627,458 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 80,911 tons will be recovere…

1- What is the concept of sustainable income? Please describe it in your own wor

1- What is the concept of sustainable income? Please describe it in your own words. Can you give an example of what this number may look like by using the income statement of a re…

1- What is the largest investing activity outflow during the most recent year? (

1- What is the largest investing activity outflow during the most recent year? (Indicate reconciling item and amount) 2- What is the largest financing activity inflow during the m…

1- When consumers receive tax rebates and use them to pay down debt rather than

1- When consumers receive tax rebates and use them to pay down debt rather than to increase spending: Select one: a. the resulting fiscal stimulus will be much larger than the ini…

1- When posting the column totals of a cash payments journal, a debit should be

1- When posting the column totals of a cash payments journal, a debit should be posted to a. Sales Discounts b. Unearned Revenue c. Cash d. Accounts Payable 2- A basic manual acco…

1- Which of the following causes the AD curve to shift left? Select one: a. a ta

1- Which of the following causes the AD curve to shift left? Select one: a. a tax cut b. increased consumer confidence c. increased import growth d. an increase in business invest…

1- Which of the following costs is the most likely to be allocated to a product

1- Which of the following costs is the most likely to be allocated to a product in a traditional job costing environment? A. Direct materials B. Direct labor C.            Manufac…

1- Which of the following individuals is eligible to claim a Premium Tax Credit

1- Which of the following individuals is eligible to claim a Premium Tax Credit for 2014, assuming their household income is 100% or more of the federal poverty line (FPL), but no…

1- Which of the following is part of the primary objective of investing in tempo

1- Which of the following is part of the primary objective of investing in temporary investments? a. All of these choices are correct. b. realize gains from increases in market pr…

1- Which of the following is the calculation of the failure-to-file penalties? a

1- Which of the following is the calculation of the failure-to-file penalties? a.20 percent of the tax due b.5 percent of the tax due c.5 percent of the tax due for each month or …

1- Which of the following is true with respect to the related party rules? a.A d

1- Which of the following is true with respect to the related party rules? a.A disallowed loss on a related party transaction can be used to offset any future gain when the proper…

1- While performing an audit what kind of observation an auditor should perform

1- While performing an audit what kind of observation an auditor should perform for the physical inventory count. Explain relevant procedures in your own words and give examples? …

1- Why do we post the total of the cash column instead of each individual cash t

1- Why do we post the total of the cash column instead of each individual cash transaction that is shown in the cash receipts or cash payments journal? In perpetual inventory, why…

1- Xavier and Yolanda have original investments of $50,000 and $100,000, respect

1- Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The articles of partnership include the following provisions regarding the…

1- Xavier and Yolanda have original investments of $50,000 and $100,000, respect

1- Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The articles of partnership include the following provisions regarding the…

1- calculate those ratios that you think would be useful in this analysis ? 2- c

1- calculate those ratios that you think would be useful in this analysis ? 2- construct a DuPont equation and compare the company's ratios to the industry average ratios? 3- do t…

1- prepare a multiple-step income statement for 2014. 2- Prepare a separate reta

1- prepare a multiple-step income statement for 2014. 2- Prepare a separate retained earnings statement for 2014. Presented below is information related to Ivan Calderon Corp. for…

1-)Please refer to the following information for Peartree Company: • Common stoc

1-)Please refer to the following information for Peartree Company: • Common stock, $1.00 par, 100,000 issued, 95,000 outstanding • Paid-in capital in excess of par: $2,150,000 • R…

1-. Identify and explain the basic financial statements for investor-owned healt

1-. Identify and explain the basic financial statements for investor-owned health care entities and not-for-profit entities. Q.2.Balance sheet. The following are account balances …

1-02 Busin W WileypLus WileyPLUS ttps:/ /edugen Kieso, Intermediate Accounting,

1-02 Busin W WileypLus WileyPLUS ttps:/ /edugen Kieso, Intermediate Accounting, 16e actice Gradebook ORION Downloadable eTextbook Assignment INTERMEDIATE ACCOUNTINGI & II (CBA…

1-1, 1-5 EXERCISE 1-1 Identifying Direct and Indirect Costs LO1-1 Northwest Hosp

1-1, 1-5 EXERCISE 1-1 Identifying Direct and Indirect Costs LO1-1 Northwest Hospital is a full-service hospital that provides everything from major surgery and emergency room care…

1-1-Direct fixed costs are classified as controllable by the CEO and top managem

1-1-Direct fixed costs are classified as controllable by the CEO and top management but allocated fixed costs are not. True or False 2-A flexible budget report compares actual res…

1-1. Net income for Harris-Smith Company for 2017 includes the effect of the fol

1-1. Net income for Harris-Smith Company for 2017 includes the effect of the following transactions involving the sale of fixed assets: Sales Asset Price Cost Gain/Loss X $ 20,000…

1-1. Net income for Harris-Smith Company for 2017 includes the effect of the fol

1-1. Net income for Harris-Smith Company for 2017 includes the effect of the following transactions involving the sale of fixed assets: Sales   Asset Price   Cost    Gain/Loss X $…