Financial Accounting
168450 questions • Page 81 / 3369
1. (25 points) Boston Inc. bought a new snow-melting machine on March 1, 2013 fo
1. (25 points) Boston Inc. bought a new snow-melting machine on March 1, 2013 for $100,000. Boston expected to use the snow-melter for five years, and expected it to be worth $10,…
1. (26 points) On 01/01/2014, Company Big (B) acquired 25% of Company Small (S)\
1. (26 points) On 01/01/2014, Company Big (B) acquired 25% of Company Small (S)'s shares. To acquire the shares, B borrowed $ 4,000,000 from bank, paid another 1,000,000 cash out …
1. (28 points) The following list of accounts and their balances represents the
1. (28 points) The following list of accounts and their balances represents the unadjusted trial balance of Alt Company at December 31, 2017: Cash Equity Investments (trading) Acc…
1. (2pts) Revenue recognition accrual basis vs. cash basis: Ring The Bells, Inc.
1. (2pts) Revenue recognition accrual basis vs. cash basis: Ring The Bells, Inc. provides doorbell repair services to customers and began operations in February 2018. On March 4th…
1. (3 points) M includes one coupon in each bag of dog food it sells. In exchang
1. (3 points) M includes one coupon in each bag of dog food it sells. In exchange for eight coupons, M sends customers a leash. The leashes cost M $3 each. M estimates customers w…
1. (30 points) The accounts related to the Balance Sheets as well as Income Stat
1. (30 points) The accounts related to the Balance Sheets as well as Income Statements for Company Y are given below (as of Dec 31st 2015 and Dec 31st 2016). Company Y does not di…
1. (45 pts total) An article in JAMA by Mandelblatt et al (2002) compared the so
1. (45 pts total) An article in JAMA by Mandelblatt et al (2002) compared the societal costs and benefits of human papillomavirus (HPV) testing, Pap testing, and their combination…
1. (50 total points) Joe runs a farm. He rents the land for $100 a day, and he c
1. (50 total points) Joe runs a farm. He rents the land for $100 a day, and he can hire workers for $20 per day for each worker. His short run production function is given in the …
1. (6 points) The following cost data relate to the manufacturing activities of
1. (6 points) The following cost data relate to the manufacturing activities of Newberry Company during the just completed year: The company uses a predetermined overhead rate to …
1. (8 POINTS) Sam and Jessica, who are married, paid $3,200 in daycare expenses
1. (8 POINTS) Sam and Jessica, who are married, paid $3,200 in daycare expenses for their three-year-old daughter, and $4,000 in preschool expenses for their five-year old son, al…
1. (8 Points) one example of each. Define the terms accrual and deferral in refe
1. (8 Points) one example of each. Define the terms accrual and deferral in reference to adjusting journal entries. Give 2. (12 Points) Your examination of Engel Company's records…
1. (9 points) The following data have been taken from the accounting records of
1. (9 points) The following data have been taken from the accounting records of Larder Corporation for the just completed year S1,550,000 $210,000 $345,000 S360,000 $315,000 .. $2…
1. (9 points) The following data have been taken from the accounting records of
1. (9 points) The following data have been taken from the accounting records of Larder Corporation for the just completed vear. $1,550,000 $210,000 $345,000 $360,000 $315,000 $210…
1. (Activity based costing) Mercy Memorial Community Hospital is under increasin
1. (Activity based costing) Mercy Memorial Community Hospital is under increasing pressure for the charges it assesses its patients. Except for an explicit consideration of direct…
1. (Cash Collections) Snobby Crab Shack budgeted credit sales in the first quart
1. (Cash Collections) Snobby Crab Shack budgeted credit sales in the first quarter of 2009 to be as follows: January …
1. (Cash Collections) Snobby Crab Shack budgeted credit sales in the first quart
1. (Cash Collections) Snobby Crab Shack budgeted credit sales in the first quarter of 2009 to be as follows: January …
1. (Cash Collections) Snobby Crab Shack budgeted credit sales in the first quart
1. (Cash Collections) Snobby Crab Shack budgeted credit sales in the first quarter of 2009 to be as follows: January …
1. (Financial forecasting) Which of the following accounts would most likely var
1. (Financial forecasting) Which of the following accounts would most likely vary directly with the level of firm sales? Provide a brief explanation of each. Yes No Cash _____ ___…
1. (Ignore income taxes in this problem.) Henscheid Roofing is considering the p
1. (Ignore income taxes in this problem.) Henscheid Roofing is considering the purchase of a crane that would cost $136,040, would have a useful life of 9 years, and would have no…
1. (Ignore income taxes in this problem.) Sibble Corporation is considering the
1. (Ignore income taxes in this problem.) Sibble Corporation is considering the purchase of a machine that would cost $460,000 and would last for 6 years. At the end of 6 years, t…
1. (JE and Taxes) Journalize the following Dunder Mifflin Transactions. A. Dunde
1. (JE and Taxes) Journalize the following Dunder Mifflin Transactions. A. Dunder Mifflin bought printer paper (for resale) for $350. B. DM purchased 3 more packages of sticky not…
1. (July 1) Purchased merchandise from Boden Company for $6,600 under credit ter
1. (July 1) Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2. (July 2) Sold merchandise to Creek C…
1. (Please Note: There may be more than one correct answer) If Peggy says to Lar
1.(Please Note: There may be more than one correct answer) If Peggy says to Larry, "I'll give you $50 if you stand on your head for one hour": Larry must verbalize his assent in o…
1. (Points: 5) An aging of a company\'s accounts receivable indicates that $2,00
1. (Points: 5) An aging of a company's accounts receivable indicates that $2,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $200 credit balance, t…
1. (Points: 5) Significant changes in stockholders\' equity are reported in 1. s
1. (Points: 5) Significant changes in stockholders' equity are reported in 1. statement of stockholders' equity 2. statement of cash flows 3. income statement 4. retained earnings…
1. (Section 11.4) Suits Only, a dry cleaning firm that specializes in cleaning b
1. (Section 11.4) Suits Only, a dry cleaning firm that specializes in cleaning business suits, operates in a perfectly competitive market. The firm faces the long-run average and …
1. (T/F) Regulation §1.162 does not corresponds with Code Section 162. 2. Larry
1. (T/F) Regulation §1.162 does not corresponds with Code Section 162. 2. Larry David is traveling out of town for business. According to Reg. §1.162-2, which of the following wou…
1. (TCO 1) A foreign key is: (Points : 5) a value which can connect two tables s
1. (TCO 1) A foreign key is: (Points : 5) a value which can connect two tables simultaneously. a unique value that identifies each row within a table. another name for a candidate…
1. (TCO 1) Intangible products, such as income tax return preparations, educatio
1. (TCO 1) Intangible products, such as income tax return preparations, education, and healthcare. (Points : 5) Business Goods Services Entrepreneur …
1. (TCO 1) Intangible products, such as income tax return preparations, educatio
1. (TCO 1) Intangible products, such as income tax return preparations, education, and healthcare. (Points : 5) Business Goods Services Entrepreneur …
1. (TCO 1) Performance reports often compare current period performance with A-
1. (TCO 1) Performance reports often compare current period performance with A- Performance in a prior period. B- Planned (budgeted) performance. C- Both A and B are correct. D- N…
1. (TCO 1) Wathan Inc. sold $180,000 in inventory to Miller Co. during 2008, for
1. (TCO 1) Wathan Inc. sold $180,000 in inventory to Miller Co. during 2008, for $270,000. Miller resold $108,000 of this merchandise in 2008 with the remainder to be disposed of …
1. (TCO 1) Which of the following is a sign that an ABC system may be useful? (P
1. (TCO 1) Which of the following is a sign that an ABC system may be useful? (Points : 5) Operations staff agrees with accountants about the costs of manufacturing and marketing …
1. (TCO 1) Which one of the following is not a benefit of budgeting? (Points : 5
1. (TCO 1) Which one of the following is not a benefit of budgeting? (Points : 5) It facilitates the coordination of activities. It provides definite objectives for evaluating per…
1. (TCO 11) An advantage of financial cost of quality measures is that they (Poi
1. (TCO 11) An advantage of financial cost of quality measures is that they (Points : 3) are often easy to quantify and understand. …
1. (TCO 2) Clear product/projects specifications: (Points : 5) Define the proble
1. (TCO 2) Clear product/projects specifications: (Points : 5) Define the problem Can become a guide for future projects/products Is a formal document listing requirements All of …
1. (TCO 2) Gardenia Company has the following projected account balances for Jun
1. (TCO 2) Gardenia Company has the following projected account balances for June 30, 20X9: Accounts payable $60,000 Sales $800,000 Accounts recei…
1. (TCO 2) Jim has taxable income of $300,000 and a tax liability of $30,000. Ja
1. (TCO 2) Jim has taxable income of $300,000 and a tax liability of $30,000. Jane has taxable income of $600,000 and a tax liability of $120,000. They are taxed under a tax rate …
1. (TCO 2) Red Barron Trucking discloses in the notes to the financial statement
1. (TCO 2) Red Barron Trucking discloses in the notes to the financial statements certain lease obligations. Sally Smith, CPA, believes that the failure to capitalize these leases…
1. (TCO 3) Describe a process costing system, including the types of companies t
1. (TCO 3) Describe a process costing system, including the types of companies that commonly use this system. How can process costing information be used in incremental analysis? …
1. (TCO 3) Which of the following preventive controls are necessary to provide a
1. (TCO 3) Which of the following preventive controls are necessary to provide adequate security for social engineering threats? (Points : 2) Controlling remote access Encryption …
1. (TCO 3) You have been approved for a $70,000 loan toward the purchase of a ne
1. (TCO 3) You have been approved for a $70,000 loan toward the purchase of a new home at 12% interest. The mortgage is for 30 years. How much are the approximately annual payment…
1. (TCO 3) You increased rates by 10 percent across all services and profits dec
1. (TCO 3) You increased rates by 10 percent across all services and profits decreased by 5 percent. Cost per unit remained constant. What could account for this change? (Points :…
1. (TCO 5) A whole set of marketing intermediaries that join together to transpo
1. (TCO 5) A whole set of marketing intermediaries that join together to transport and store goods in their path from producers to consumers is (Points : 5) administered dis…
1. (TCO 5) The changing marketing environment presents a continuous challenge to
1. (TCO 5) The changing marketing environment presents a continuous challenge to companies wishing to increase their sales revenues. A number of processes are used to try and obta…
1. (TCO 5) The changing marketing environment presents a continuous challenge to
1. (TCO 5) The changing marketing environment presents a continuous challenge to companies wishing to increase their sales revenues. A number of processes are used to try and obta…
1. (TCO 7) Workers in a McDonald\'s are trained to cook, clean, fill drinks, tak
1. (TCO 7) Workers in a McDonald's are trained to cook, clean, fill drinks, take orders, and fill orders. During a shift they work each job for one hour. This is an example of job…
1. (TCO 8) Which of the following statements is false? (Points : 4) A taxpayer c
1. (TCO 8) Which of the following statements is false? (Points : 4) A taxpayer can be charged a penalty for the late payment of taxes if an extension to file was granted. The inte…
1. (TCO 9) Trent files his tax return 35 days after the due date. Along with the
1. (TCO 9) Trent files his tax return 35 days after the due date. Along with the return, Trent remits a check for $8,000, which is the balance of the tax owed. Disregarding the in…
1. (TCO A) Listed below are several information characteristics and accounting p
1. (TCO A) Listed below are several information characteristics and accounting principles and assumptions. Each of these items is assigned a number. Match the number of each with …
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Financial Accounting
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