Financial Accounting

1.Which of the following would not be on the statement of cash flows? a. cash fl

1.Which of the following would not be on the statement of cash flows? a. cash flows from financing activities b. cash flows from investing activities c. cash flows from contingent…

1.Which of the following would remove the effect of inflation as it measures the

1.Which of the following would remove the effect of inflation as it measures the value of all national output? I. Real gross domestic product (GDP) 11. Nominal GDP (A) I only (B) …

1.Which of these parties involved in preparing and auditing financial statements

1.Which of these parties involved in preparing and auditing financial statements provides oversight of the reporting process and other parties? 2. Which of these is a safeguard to…

1.Which one of the following would be included in gross income for federal tax p

1.Which one of the following would be included in gross income for federal tax purposes? As an employee of Air Canada, Ethel flew to the UK in an empty seat on the plane Chris rec…

1.Which one of the following would be the most persuasive type of evidence? (a).

1.Which one of the following would be the most persuasive type of evidence? (a). check register, (b). bank statement, (c). observation of assets, (d). inquiry with the in-house at…

1.Which one of the following would not be included in gross income for federal t

1.Which one of the following would not be included in gross income for federal tax purposes? Frank won $2,000 on the game show Jeopardy Grant stole $500 from his employer’s petty …

1.Why do the wash sale rules apply to th sale of stock at a loss but not to the

1.Why do the wash sale rules apply to th sale of stock at a loss but not to the sale of stock at a gain? 2.Phong is a life insurance salesmen for Swan insurance and spends 4days a…

1.Why doesn\'t the type of decision-making process a consumer uses stay constant

1.Why doesn't the type of decision-making process a consumer uses stay constant?2.Even though some airlines target business clientele, is the decision to use these carriers more l…

1.Windsor Company is constructing a building. Construction began on February 1 a

1.Windsor Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,076,000 on March 1, $1,224,000 on June 1, and…

1.Wright company expects cash sales for july of $12,000 and a 20% monthly increa

1.Wright company expects cash sales for july of $12,000 and a 20% monthly increase during August and september. credit sales of $4,000 in July should be followed by 10% decresesd …

1.XYT Company engaged in a transaction that generated $50,000 cash deposited in

1.XYT Company engaged in a transaction that generated $50,000 cash deposited in the company bank account and required the company to pay $12,000 out of that account. XYT's margina…

1.You have been hired by ABC Company to determine the total market value of its

1.You have been hired by ABC Company to determine the total market value of its assets. You started off by looking at its current Balance Sheet. Total assets, cash and receivables…

1.Your boss says: “Why do I need to tell you what type of learning capability I’

1.Your boss says: “Why do I need to tell you what type of learning capability I’m interested in? I just want a training program to teach employees how to give good customer servic…

1.Your company, Metro Express has five employees, each of whom earn $3,000 per m

1.Your company, Metro Express has five employees, each of whom earn $3,000 per month. Today January 31, 2011 is not a pay day. Each employee wages are subject to FICA social secur…

1.Your firm has been providing long term care insurance (covering nursing home c

1.Your firm has been providing long term care insurance (covering nursing home care) for your workers. It costs the firm $2200 per year per employee to provide this benefit. Suppo…

1.Your mortgage statement says that your loan is at 4.68 percent APR, with month

1.Your mortgage statement says that your loan is at 4.68 percent APR, with monthly payments. What is the effective annual rate on your mortgage (i.e., taking into account the mont…

1._______ The net effect of a stock dividend is that Retained Earnings decreases

1._______             The net effect of a stock dividend is that Retained Earnings decreases, and… a. cash decreases     b. Dividends Payable increases    c. Paid in Capital incre…

1.a) Explain what determines the value of a company’s stock and what determines

1.a) Explain what determines the value of a company’s stock and what determines a credit quality? b) What is the best way to appreciate the interrelatedness of the income statemen…

1.a. Explain what a traditional I.R.A. is. Explain why $1000 deposited in a trad

1.a. Explain what a traditional I.R.A. is. Explain why $1000 deposited in a traditional I.R.A., used to buy shares of a particular mutual fund, which are held for 10 years, earns …

1.a.Explain the Nature of Political, Economic, Social and Technological Forces.

1.a.Explain the Nature of Political, Economic, Social and Technological Forces. Under External Environment Ansoff's Product/Market Growth Matrix. Portfolio Analysis Model Market E…

1.company receives a $55,000 cash deposit from a customer on December 15 but wil

1.company receives a $55,000 cash deposit from a customer on December 15 but will not deliver the goods until January 20.  What month will revenue be recorded? 2.During 2010, Sigm…

1.gillian \'s gandemin signed a lease on july 1st and paid $240,000 in cash. The

1.gillian 's gandemin signed a lease on july 1st and paid $240,000 in cash. The term of lease is 2 years beginning on July 1st Prepare the appropriate journal entries for July 1st…

1.gillian \'s gandemin signed a lease on july 1st and paid $240,000 in cash. The

1.gillian 's gandemin signed a lease on july 1st and paid $240,000 in cash. The term of lease is 2 years beginning on July 1st Prepare the appropriate journal entries for July 1st…

1.gillian \'s gandemin signed a lease on july 1st and paid $240,000 in cash. The

1.gillian 's gandemin signed a lease on july 1st and paid $240,000 in cash. The term of lease is 2 years beginning on July 1st Prepare the appropriate journal entries for July 1st…

1.gillian \'s gandemin signed a lease on july 1st and paid $240,000 in cash. The

1.gillian 's gandemin signed a lease on july 1st and paid $240,000 in cash. The term of lease is 2 years beginning on July 1st Prepare the appropriate journal entries for July 1st…

1.gillian \'s gandemin signed a lease on july 1st and paid $240,000 in cash. The

1.gillian 's gandemin signed a lease on july 1st and paid $240,000 in cash. The term of lease is 2 years beginning on July 1st Prepare the appropriate journal entries for July 1st…

1.journalise the following 2.prepare adjusting journal entry that is required on

1.journalise the following 2.prepare adjusting journal entry that is required on December 31st 3.post T-accounts and determine the final balance. Action Quest Games Inc. adjusts i…

1.obtain the financail statement(Annual report) of a company of your choosing. t

1.obtain the financail statement(Annual report) of a company of your choosing. the financial statements should include the following: A. the balance sheet B. the income statement …

1.prepare adjusting entries for December 31st 2.prepare journal entries to recor

1.prepare adjusting entries for December 31st 2.prepare journal entries to record cash transaction in 2019. Greenock Limited has the following information available for accruals f…

1.prepare quarterly adjusting entries required at March 31st Debit Credit insura

1.prepare quarterly adjusting entries required at March 31st Debit Credit insurance 15.240 2,890 22,200 Supplies Equipment Accumulated depreciation-equipment Unearned revenue Loan…

1.statement information and additional data Selected financial for ABC Corporati

1.statement information and additional data Selected financial for ABC Corporation is presented below. ABC Corporation Balance Sheet and Income Statement Data                     …

1.statement information and additional data Selected financial for ABC Corporati

1.statement information and additional data Selected financial for ABC Corporation is presented below. ABC Corporation Balance Sheet and Income Statement Data                     …

1.suppose that author kessel places an order to buy 100 shares of Google. explai

1.suppose that author kessel places an order to buy 100 shares of Google. explain how the order will be processed if it's a market order. would it make any difference if it had be…

1.value: 100.00 points The following data relate to the operations of Picanuy Co

1.value: 100.00 points The following data relate to the operations of Picanuy Corporation, a wholesale distributor of consumer goods: Current assets as of December 31: Cash $ 6,70…

1/ A company had average total assets of $912,000. Its gross sales were $1,089,0

1/ A company had average total assets of $912,000. Its gross sales were $1,089,000 and its net sales were $985,000. The company's total asset turnover equals: Multiple Choice 0.93…

1/ A company has bonds outstanding with a par value of $110,000. The unamortized

1/ A company has bonds outstanding with a par value of $110,000. The unamortized premium on these bonds is $2,585. If the company retired these bonds at a call price of 99, the ga…

1/ A company issued 10.0%, 5-year bonds with a par value of $160,000. The market

1/ A company issued 10.0%, 5-year bonds with a par value of $160,000. The market rate when the bonds were issued was 11.0%. The company received $153,969.90 cash for the bonds. Us…

1/ A company must repay the bank a single payment of $27,000 cash in 6 years for

1/ A company must repay the bank a single payment of $27,000 cash in 6 years for a loan it entered into. The loan is at 10% interest compounded annually. The present value factor …

1/ A company purchased a weaving machine for $341,560. The machine has a useful

1/ A company purchased a weaving machine for $341,560. The machine has a useful life of 8 years and a residual value of $19,000. It is estimated that the machine could produce 768…

1/ A company\'s current net operating income is $16,800 and its average operatin

1/ A company's current net operating income is $16,800 and its average operating assets are $80,000. The company's required rate of return is 18%. A new project being considered w…

1/ A firm has $3,430,000 in its common stock account and $34,300,000 in its paid

1/ A firm has $3,430,000 in its common stock account and $34,300,000 in its paid-in capital account. The firm issued 490,000 shares of common stock. What is the par value of the c…

1/ ABC Co. has an average collection period of 70 days. Total credit sales for t

1/ ABC Co. has an average collection period of 70 days. Total credit sales for the year were $5,800,000. What is the balance in accounts receivable at year-end? (Use 360 days in a…

1/ Adams Manufacturing allocates overhead to production on the basis of direct l

1/ Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $334,500; materials of …

1/ Allen Lumber Company had earnings after taxes of $560,000 in the year 2009 wi

1/ Allen Lumber Company had earnings after taxes of $560,000 in the year 2009 with 390,000 shares outstanding on December 31, 2009. On January 1, 2010, the firm issued 26,000 new …

1/ Alvarez Company\'s break-even point in units is 1,650. The sales price per un

1/ Alvarez Company's break-even point in units is 1,650. The sales price per unit is $12 and variable cost per unit is $10. If the company sells 3,800 units, what will net income …

1/ An employee earns $5,650 per month working for an employer. The FICA tax rate

1/ An employee earns $5,650 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $118,500 of earnings each calendar year and the FICA tax …

1/ An employee earns $5,750 per month working for an employer. The FICA tax rate

1/ An employee earns $5,750 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $118,500 of earnings each calendar year and the FICA tax …

1/ An overstatement of ending inventory for 1998 will: A understate the 1998 inc

1/ An overstatement of ending inventory for 1998 will: A understate the 1998 income. B understate the 1998 current assets by the same amount. C overstate the 1998 costs of goods s…

1/ Bagrov Corporation had a net decrease in cash of $19,000 for the current year

1/ Bagrov Corporation had a net decrease in cash of $19,000 for the current year. Net cash used in investing activities was $61,000 and net cash used in financing activities was $…

1/ Barber and Atkins are partners in an accounting firm and share net income and

1/ Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capital balance for the current year is $129,000, and…