Financial Accounting

1. X Company currently buys a part from a supplier for $13.70 per unit but is co

1. X Company currently buys a part from a supplier for $13.70 per unit but is considering making the part itself next year. This year, they purchased 3,100 units of this part; nex…

1. XCELL Printing has created a new cartridge for 3D printers that they claim is

1. XCELL Printing has created a new cartridge for 3D printers that they claim is far superior to the closest alternative cartridge sold by MM Printing. XCELL is in the process of …

1. XYZ Company deposited $15,000 in a bank account in return for issuing shares

1. XYZ Company deposited $15,000 in a bank account in return for issuing shares in the corporation. This transaction would affect which two financial statement elements? (Points :…

1. XYZ Company produced and sold 70,000 backpacks during the year just ended at

1. XYZ Company produced and sold 70,000 backpacks during the year just ended at an average price of $30 per unit. Variable manufacturing cost were 12 per unit and variable marketi…

1. XYZ Enterprises purchased equipment for $70,000 on July 1, 2013. The equipmen

1. XYZ Enterprises purchased equipment for $70,000 on July 1, 2013. The equipment is expected to have a five-year life and a residual value of $10,000. Using the sum-of-years'-dig…

1. XYZ had Revenues of $200,000 during 2015, and its Accounts Receivable increas

1. XYZ had Revenues of $200,000 during 2015, and its Accounts Receivable increased from $40,000 to $50,000 during 2015. How much cash did XYZ collect from customers during 2015? X…

1. Xavier and Yolanda have original investments of $50,000 and $100,000 respecti

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 d…

1. Yes or No 2. Excess of purchase price over the book value, excess of purchase

1. Yes or No 2. Excess of purchase price over the book value, excess of purchase over fair price, excess of purchase price over the salvage value 3. Tangible asset related to the …

1. Yoshi Company completed the following transactions and events involving its d

1. Yoshi Company completed the following transactions and events involving its delivery trucks 2016 Jan. 1 Paid $22,015 cash plus $1,635 in sales tax for a new delivery truck esti…

1. You are considering an investment opportunity that would give you $20,000 per

1. You are considering an investment opportunity that would give you $20,000 per year at the end of each of the next 5 years. Assuming you desire to earn 9% interest, how much wou…

1. You are considering buying an investment that pays you $20,000 at the end of

1. You are considering buying an investment that pays you $20,000 at the end of every year for 6 years. If you desire a 9% rate of return on your investment, what price would you …

1. You are considering creating a financial portfolio comprising two stocks whic

1. You are considering creating a financial portfolio comprising two stocks which have a correlation of 1 Choose one answer. A. The portfolio will have a risk level somewhere betw…

1. You are constructing a portfolio of two assets, Asset A and Asset B. The expe

1. You are constructing a portfolio of two assets, Asset A and Asset B. The expected returns of the assets are 13 percent and 16 percent, respectively. The standard deviations of …

1. You are given the following information about copper in the United States: Si

1. You are given the following information about copper in the United States: Situation With Tariff $0.40 per lb. S0.20 per lb. S0.60 per lb. 210 million lb 140 million lb. Situat…

1. You are in the process of auditing Leonard, LLC as of and for the year ended

1. You are in the process of auditing Leonard, LLC as of and for the year ended December 31, 2017 (it is now March 2018). Leonard shows $8,540,725 as the balance of accounts payab…

1. You are responsible for forecasting your company\'s revenue for the next 24 m

1. You are responsible for forecasting your company's revenue for the next 24 months. You have three years of historical monthly data and previous forecasts that indicate the comp…

1. You are the beneficiary of a trust fund established by your aunt. Your aunt h

1. You are the beneficiary of a trust fund established by your aunt. Your aunt has given you two options to choose from with respect to how you wish to receive the money. You can …

1. You are to research, compose, and type a scholarly paper based on the scenari

1. You are to research, compose, and type a scholarly paper based on the scenario described above. Choose one ending to the scenario to discuss within the body of your paper. Refl…

1. You decide first to assess the company\'s performance in terms of debt manage

1. You decide first to assess the company's performance in terms of debt management and profitabil final percentage answers to 1 decimal place. Lo., 0.123 should be considered as …

1. You have an initial amortizing loan (similar to a mortgage) of $250,000, to b

1.         You have an initial amortizing loan (similar to a mortgage) of $250,000, to be repaid in equal 30 payments, over 30 years. The annual interest rate is 8%. What is the a…

1. You have estimated the following probability distributions of expected future

1. You have estimated the following probability distributions of expected future returns fo stocks A and B Stock A Stock B Probability Probability Return -10% 10% 15% 20% 40% Retu…

1. You have forecast the sales for your company for the next 12 months using mon

1. You have forecast the sales for your company for the next 12 months using monthly revenue data. The forecast model you used produced the time series residuals shown below. Are …

1. You have invested in a company with the following statistics... Annual Revenu

1. You have invested in a company with the following statistics... Annual Revenue $2M Annual profit $400k (20% of revenues) Cost of Purchase $7M – all paid at the start. Annual Gr…

1. You have the following info. on a potential investment: capital investment: $

1. You have the following info. on a potential investment: capital investment: $279,000 estimated useful life: 3yrs estimated salvage value: 0 estimated annual net cash inflow: $1…

1. You invest $100,000 at 10% for 1 years. How much will you have? and how much

1. You invest $100,000 at 10% for 1 years. How much will you have? and how much interest will you earn? 2. You want $300,000 in 10 years. If you can earn 10%, how much do you have…

1. You just won the state lottery. One option to receive your winnings is to tak

1.    You just won the state lottery.  One option to receive your winnings is to take 20 annual payments of $25,000.  Another option is to take a lump sum payment today (discounte…

1. You keep the accounting records for a small merchandising corporation which o

1. You keep the accounting records for a small merchandising corporation which operates on a fiscal year that ends on December 31. Using the separate general journal form provided…

1. You keep the accounting records for a small merchandising corporation which o

1. You keep the accounting records for a small merchandising corporation which operates on a fiscal year that ends on December 31. Using the separate general journal form provided…

1. You keep the accounting records for a small merchandising corporation which o

1. You keep the accounting records for a small merchandising corporation which operates on a fiscal year that ends on December 31. Using the separate general journal form provided…

1. You own a pizza shop and you use both labor and capital to make your pizzas.

1. You own a pizza shop and you use both labor and capital to make your pizzas. Currently the marginal product of labor is 5 pizzas per hour, while the marginal product of you cap…

1. You would like to have $44,073for the down payment on a house you plan to buy

1. You would like to have $44,073for the down payment on a house you plan to buy five years after you graduate. If your investments earn 1.2% APR compounded monthly, how much do y…

1. You\'ve been saving up for a new car that you think costs $25,000. You alread

1. You've been saving up for a new car that you think costs $25,000. You already have $10,000 and you think that, with interest and additional savings, the $10,000 will grow to $2…

1. Your CPA firm was engaged to audit ABC Corporation. During the audit you exam

1.     Your CPA firm was engaged to audit ABC Corporation. During the audit you examined the following instrument:    Smith, Inc.                                                  …

1. Your client\'s company wants to determine the relationship between its monthl

1. Your client's company wants to determine the relationship between its monthly operating costs and a potential cost driver. The output of regression analysis showed the followin…

1. Your company, which uses the perpetual method, purchases inventory for $7,000

1. Your company, which uses the perpetual method, purchases inventory for $7,000 on account, but before paying the invoice returns damaged goods for a $650 credit. What is the jou…

1. Your friend finds a used Toyota Prius on CraigsList. He purchases it for $16,

1. Your friend finds a used Toyota Prius on CraigsList. He purchases it for $16,000. He puts $1,000 down, finances the balance over 4 years for 5.95% interest, and will make month…

1. Your supervisor requests a careful, common-sense definition of increasing ver

1. Your supervisor requests a careful, common-sense definition of increasing versus decreasing returns to scale -- a production-specific concept. She also wonders how increasing a…

1. Yummy Tummy Desserts has 3,000 quarts of ice cream in WIP Inventory, with all

1. Yummy Tummy Desserts has 3,000 quarts of ice cream in WIP Inventory, with all materials already added. What are equivalent units in ending WIP Inventory for materials if the ic…

1. Zane’s Auto Supply had the following items listed in its trial balance at 12/

1. Zane’s Auto Supply had the following items listed in its trial balance at 12/31/2016: Currency and coins 650 Balance in checking account 2,600 Customer checks waiting to be dep…

1. Zorro Manufacturing had always made its components in house. However, Simpson

1.       Zorro Manufacturing had always made its components in house. However, Simpson Components Works had recently offered to supply one component, P7-43, at a price of $5 each.…

1. [5] A company, operating in the U.S., has the revenues and expenses shown in

1. [5] A company, operating in the U.S., has the revenues and expenses shown in the table. Revenues 220,000 Expenses - Labor - Materials 50,000 10,000 Depreciation6,000 2,000 1,00…

1. [5] A company, operating in the U.S., has the revenues and expenses shown in

1. [5] A company, operating in the U.S., has the revenues and expenses shown in the table. Revenues 220,000 Expenses Labor Materials 50,000 10,000 Depreciation 6,000 2,000 1,000 R…

1. [ROA and ROE models and Ratio Components] The Salza Technology Corporation su

1.     [ROA and ROE models and Ratio Components] The Salza Technology Corporation successfully increased its “top line” sales from $375,000 in 2012 to $450,000 in 2013. Net income…

1. ____ Johnson purchased equipment. The cost of installing the equipment would

1. ____ Johnson purchased equipment. The cost of installing the equipment would be a. debited to Depreciation Expense b. debited to Installation Expense c. debited to Miscellaneou…

1. ____ Johnson purchased equipment. The cost of installing the equipment would

1. ____ Johnson purchased equipment. The cost of installing the equipment would be a. debited to Depreciation Expense b. debited to Installation Expense c. debited to Miscellaneou…

1. ____ Most countries require companies to follow U.S. GAAP in preparing their

1. ____ Most countries require companies to follow U.S. GAAP in preparing their financial statements. 2. ____ Companies face many uncertainties when preparing their financial stat…

1. ______ Borrowing money from a bank a. Increases assets and decreases liabilit

1. ______ Borrowing money from a bank a. Increases assets and decreases liabilities b. Increases liabilities and decreases assets c. Decreases assets and decreases liabilities d. …

1. ______ The failure to adjust an unearned revenue that has been partially earn

1. ______ The failure to adjust an unearned revenue that has been partially earned and was originally recorded as a credit to Unearned Revenue will usually result in an a. Oversta…

1. a machine ship has direct materials cost of $1,800,000 direct labour of $4,20

1. a machine ship has direct materials cost of $1,800,000 direct labour of $4,200,000(direct labour rate is $50 per hour) and budgeted indirect manufacturing costs of $850,000. ma…

1. a project will require an initial investment of $300,000 and will return $75,

1. a project will require an initial investment of $300,000 and will return $75,000 each year for eight years. if taxes are ignored and the required rate of return is 9%, what is …