Financial Accounting

1. A stock dividend will: A. Increase common stock dividend distributable B. Inc

1. A stock dividend will: A. Increase common stock dividend distributable B. Increase the total stockholder's equity C. Increase the par or stated value per share D. Decrease tota…

1. A stock sells for $10 a share. you purchase 100 shares for $1000 and after a

1. A stock sells for $10 a share. you purchase 100 shares for $1000 and after a year, the prices rises to $17.50. What will be the percentage of return on your investment if you b…

1. A taxable temporary difference is expected to lead to the payment of: a. more

1. A taxable temporary difference is expected to lead to the payment of: a. more tax in the future and gives rise to a deferred tax asset. b. less tax in the future and gives rise…

1. A taxpayer has generated a net operating loss in the current year and is weig

1. A taxpayer has generated a net operating loss in the current year and is weighing whether to carryback the NOL or elect to carryforward the NOL. The factors to consider in maki…

1. A three-year fire insurance policy was purchased on July 1, 2018, for $9,360.

1. A three-year fire insurance policy was purchased on July 1, 2018, for $9,360. The company debited insurance expense for the entire amount. 2. Depreciation on equipment totaled …

1. A three-year-old machine has a cost of $17,200, an estimated residual value o

1. A three-year-old machine has a cost of $17,200, an estimated residual value of $1,200, and an estimated useful life of 32,000 machine hours. The company uses units-of-productio…

1. A transfer price is the price that is used to value transfers of goods and se

1. A transfer price is the price that is used to value transfers of goods and services from one subunit of a company to another subunit in the company. from Work in Process Invent…

1. A truck that cost $42,000 and on which $35,000 of accumulated depreciation ha

1. A truck that cost $42,000 and on which $35,000 of accumulated depreciation has been recorded was disposed of for $10,500 cash. The entry to recor A) loss of $3,500. B) credit t…

1. A truck that cost $42,000 and on which $35,000 of accumulated depreciation ha

1. A truck that cost $42,000 and on which $35,000 of accumulated depreciation has been recorded was disposed of for $10,500 cash. The entry to recor A) loss of $3,500. B) credit t…

1. A truck that cost $42,000 and on which s35,000 of accumulated depreciation ha

1. A truck that cost $42,000 and on which s35,000 of accumulated depreciation has been recorded was disposed of for $10,500 cash. The entry to record this event would include a A)…

1. A unfavorable direct labor rate variance indicates that the: a. the actual co

1. A unfavorable direct labor rate variance indicates that the: a. the actual cost of direct labor per hour was less than the standard cost of direct labor per hour. b. both actua…

1. A unique or significant happening. 2. Annual information required by Regulati

1. A unique or significant happening. 2. Annual information required by Regulation S-X. 3. Changes in control of the registrant. 4. Interim financial statements. 5. Third quarter …

1. A, B and C decide to form a partnership for the purpose of developing real pr

1. A, B and C decide to form a partnership for the purpose of developing real property. A and B are wealthy individuals, with no particular real estate experience. C is an experie…

1. A. Discuss the deductive, inductive and pragmatic research methods. Include i

1. A. Discuss the deductive, inductive and pragmatic research methods. Include in your discussion examples of accounting research that used each method. B. Why do business manager…

1. ABC Co. (lessee) signs a lease agreement on July 1st, 2018 to lease equipment

1. ABC Co. (lessee) signs a lease agreement on July 1st, 2018 to lease equipment from Daly Leasing Company (lessor). The following data relates to this lease agreement: () The ter…

1. ABC Company has produced a higher level of production in May than it produced

1. ABC Company has produced a higher level of production in May than it produced in April, but had the same variable costs per unit and the same total fixed costs. Which of the fo…

1. ABC Company issues 10% 10-year bonds with a face value of $X and the bonds pa

1. ABC Company issues 10% 10-year bonds with a face value of $X and the bonds pay interest twice a year on June 30 and Dec 31. The market interest rate at the date of issue is 12%…

1. ABC Company manufactures electric saws. Based on past experience, ABC has fou

1. ABC Company manufactures electric saws. Based on past experience, ABC has found that its total overhead cost can be represented by the following formula: Total overhead cost = …

1. ABC Company must sell 1,000 units to break even with its current contribution

1. ABC Company must sell 1,000 units to break even with its current contribution margin of $.50 per unit. How will breakeven change if the contribution margin increases? A. The nu…

1. ABC Company uses absorption costing in its GAAP financial statements and vari

1. ABC Company uses absorption costing in its GAAP financial statements and variable costing for its internal management reporting. .ABC Company has produced 20,000 cell phone cov…

1. ABC Corp has Accounts Receivable of FC 400,000 and Accounts Paya March 31 and

1. ABC Corp has Accounts Receivable of FC 400,000 and Accounts Paya March 31 and April 30, 2010. The applicable exchange rates at as of FC 300,000 on both that date were as follow…

1. ABC Corporation makes a product with the following standard costs: Standard Q

1. ABC Corporation makes a product with the following standard costs: Standard Quantity or Hours 4.3 pounds 0.7 hours 0.7 hours Standard Price or Rate S6.00 per pound $20.00 per h…

1. ABC Inc., contracted XYZ LLC to lease certain real property on behalf of a cl

1. ABC Inc., contracted XYZ LLC to lease certain real property on behalf of a client. ABC emailed the landlord a separate agreement for the payment of ABC's commission. The landlo…

1. ABC Inc., sponsors the \"Pioneer Trial Ultramarathon,\" with an advertised fi

1. ABC Inc., sponsors the "Pioneer Trial Ultramarathon," with an advertised first price of $10,000. The rules require the competitors to run 100 miles from the floor of Blackwater…

1. ABC Ltd. acquired 90% of XYZ Ltd. in 1990. There was no goodwill or fair valu

1. ABC Ltd. acquired 90% of XYZ Ltd. in 1990. There was no goodwill or fair value adjustment arising therefrom. For the year ended 30 June 2001, ABC Ltd. reported an after tax pro…

1. ABC generally causes the least amount of cost distortion among products becau

1. ABC generally causes the least amount of cost distortion among products because indirect costs are allocated to the products based on none of the above. 2. Chicago Steel's oper…

1. ABC problem backpacks, purses homework Activity Based Costing Problem Elliot

1. ABC problem backpacks, purses homework Activity Based Costing Problem Elliot Page, Inc. manufactures and sells two products, backpacks and purses. Annual sales in units of each…

1. AICPA auditing standards address the confirmation of accounts receivable for

1. AICPA auditing standards address the confirmation of accounts receivable for private company audits. What are the circumstances under which confirmation of accounts receivable …

1. Aaron and Michele, equal shareholders in Cavalier Corporation, receive $25,00

1. Aaron and Michele, equal shareholders in Cavalier Corporation, receive $25,000 each in distributions on December 31 of the current year. During the current year, Cavalier sold …

1. Able Inc. adopted a defined benefit pension plan, with the following balances

1. Able Inc. adopted a defined benefit pension plan, with the following balances on January 1, 2017: plan assets $264,500; projected benefit obligation $422,800; Accumulated OCI-n…

1. Absorption costing is also known as all of the following EXCEPT a. Variable c

1. Absorption costing is also known as all of the following EXCEPT a. Variable costing b. Full costing c. Traditional approach d. Functional approach. 2. The distinction between a…

1. According to the Phillips Curve, in the long run inflation equals (Points : 1

1. According to the Phillips Curve, in the long run inflation equals (Points : 1) The rate of increase in government spending The rate of increase in transfer payments The rate of…

1. According to the Power video you watched for this class, which of the followi

1. According to the Power video you watched for this class, which of the following is NOT a law of power: Power flows like water. Power is static. Power is never static. Power com…

1. According to the Week 5 lecture, why do most businesses fail within the first

1.  According to the Week 5 lecture, why do most businesses fail within the first few years? 2. If an Accounts Receivable account is not eventually converted into cash, what happe…

1. According to the value-based management model, what is the stock price per sh

1. According to the value-based management model, what is the stock price per share given the following data? Year 1 Revenue 850.00 Fixed costs 100.00 Variable costs 280.00 Additi…

1. According to virtually all conventional (non-Austrian) economists, what role

1. According to virtually all conventional (non-Austrian) economists, what role does the central bank play in a financial crisis? a.) Contractionary fiscal policy to reduce levera…

1. According to “New Study on Collaborative Execution Finds Supply Chain Collabo

1. According to “New Study on Collaborative Execution Finds Supply Chain Collaboration Can Improve Operational Metrics by 50 Percent or More” (Bloomberg, 2012) By a ratio of nearl…

1. Account Titles Account Balances Sales Discounts 14 Withdrawals 89 Rent Earned

1. Account Titles Account Balances Sales Discounts 14 Withdrawals 89 Rent Earned 42 Equipment 516 Cost of Goods Sold 112 Accounts Payable ??? Inventory 315 Delivery Expense (freig…

1. Account classification ASSETS LIABILITIES AND CAPITAL a. Current assets f. Cu

1. Account classification ASSETS LIABILITIES AND CAPITAL a. Current assets f. Current liabilities b. Investments g. Long-term liabilities c. Plant and equipment h. Preferred stock…

1. Accounts Payable a. asset b. liability c. revenue d. expense 2. Equipment a.

1. Accounts Payable a. asset b. liability c. revenue d. expense 2. Equipment a. asset b. liability c. revenue d. expense 3. Fees Earned a. asset b. liability c. revenue d. expense…

1. Accounts Payable has an invoice to enter in February 2013 from Computer Consu

1.       Accounts Payable has an invoice to enter in February 2013 from Computer Consulting International for support services from October 2012 to September 2013 for $12,000. How…

1. Accounts payable (a .k.a. trade accounts payable) is the account credited whe

1. Accounts payable (a .k.a. trade accounts payable) is the account credited when goods or services are purchased on open account (meaning payment has been delayed - often due in …

1. Accounts receivable arising from sales to customers amounted to $120,000 and

1. Accounts receivable arising from sales to customers amounted to $120,000 and $51,000 at the beginning and end of the year, respectively. Income reported on the income statement…

1. Accounts receivable from sales transactions were $49,710 at the beginning of

1. Accounts receivable from sales transactions were $49,710 at the beginning of the year and $62,191 at the end of the year. Net income reported on the income statement for the ye…

1. Accounts that are not closed to a zero balance at the end of each period. 2.

1. Accounts that are not closed to a zero balance at the end of each   period. 2. A system of recording transactions in a way that maintains the   equality of the accounting equat…

1. Accrual accounting is used because a. cash flows are considered less importan

1. Accrual accounting is used because a. cash flows are considered less important. b. it provides a better indication of ability to generate cash flows than the cash basis. c. it …

1. Accrued salaries of $600 owed to employees for December 29, 30, and 31 are no

1.     Accrued salaries of $600 owed to employees for December 29, 30, and 31 are not taken into consideration in preparing the financial statements for the year ended December 31…

1. Acme Manufacturing is producing $4,000,000 worth of goods this year and expec

1. Acme Manufacturing is producing $4,000,000 worth of goods this year and expects 0 to sell its entire production. It also is planning to purchase $1,500,000 in new equip- ment d…

1. Acquired $30,000 cash from the issue of common stock 2.Borrowed $40,000 cash

1. Acquired $30,000 cash from the issue of common stock 2.Borrowed $40,000 cash from national Bank 3. Earned cash revenues of $48,000 for performing services 4.Paid cash expenses …

1. Acquired $30,000 cash from the issue of common stock. 2. Paid $10,000 cash to

1. Acquired $30,000 cash from the issue of common stock. 2. Paid $10,000 cash to purchase land 3. Narrowed $10,000 cash 4. Provides services for $50,000 cash 5. Paid $1,500 cash f…